sara eisen rounds up the action.s, we'll discuss what could happen if the fed is behind the curve. >>> and then later, the government is moving closer to banning inflight cell phone calls. can't happen soon enough. we'll be taking a poll. sorry, i showed my hand. >> frame's next, please. >> in the next hour, we'll show you whether flyers want to make calls from 30,000 feet or if they're in favor of this ban. cnbc.com/vote. chime in in just a bit. f purchas for my business. and i get a lot in return with ink plus from chase. like 50,000 bonus points when i spent $5,000 in the first 3 months after i opened my account. and i earn 5 times the rewards on internet, phone services and at office supply stores. with ink plus i can choose how to redeem my points. travel, gift cards, even cash back. and my rewards points won't expire. so you can make owning a business even more rewarding. ink from chase. so you can. >>> welcome back. the stuff you miss during commercial breaks. oh. the dow up 85 points right now, just off the h

thank you, sara eisen. >> gemma godfried, a look at this. saw emerging markets take a tumble. trading at the lowest telephole since july 1st >> saying russian sanctions are hitting global sentiment. it's providing overreaction opportunities in stocks and also a healthy reality check in the bond markets. if we start on the stock side, actually starting to see instead, that, for example, commerce bank come out to unicredit come out and said the terminal so far will only have a minor impact on their businesses. and when you started to see russia's hardest supermarket chain, calmed magnet, saying it only gets u.s. and eu food imports. only account for 1% of sales. you can see this overreaction. what we would say, the reason it's so healthy, that the real risk is in bonds. if you look at west sovereign bond yields especially in the periphery, moved too fast. we saw spain, for example, being able to borrow at a two decade low, or ireland borrowing for cheaper than the u.s. you do start to get concerns. and european and high yield issuance has actually started to exceed, and we're se

sara eisen has yet to accept.ly evans did it yesterday while i was away, but i owe you one, jon. >> look at you. selfie ice buckets. both of you. well done. >> we're not fancy, you know, big-time people with whole crews going around. we go in the backyard and get it done. >> yeah. wore my fancy shirt. i don't know if viewers saw it. it says "live a little." we all have to get our kicks somehow. >>> and talking about all hour, uber. covered the competition with lyft. today's squawk on the tweet, who do they need to hire to respond? tweet us, we'll get some of your answers up next. how about over there? what does it mean to have an unlimited mileage warranty on a certified pre-owned mercedes-benz? what does it mean to drive as far as you want... for up to three years... and be covered? it means your odometer... is there to record... the memories. during the mercedes-benz certified pre-owned sales event now through september 2nd, you'll get complimentary pre-paid maintenance and may qualify for a two-month payment cr

sara eisen looks at which companies are seeing pricing power and why it's happening now. >> expect to pay more for candy and chocolate. hershey's and mars are lifting prices 7 to 8%. that goes for coffee as well, starbucks, and kraft are boosting prices for packaged coffee and beverages. kraft is raising prices on cheese and oscar mayer meats. >> as the economy improves as the labor market improves, it's become increasingly clear that individual companies from across the spectrum are finding the environment a little more amenable to price increases. it's certainly not anything that's going to set alarm bells off. certainly something we haven't seen in the last several quarters. >> it's not just at the grocery store. you may have noticed a slight cost in burritos at chipotle. make can i and pepsico which make frito-lay snacks both talked about raising prices on new sneakers or chip flavors. for the most part, those higher prices are feeding into fatter profits. pulte group and camel cigarettes both mentioned higher prices behind a better quarter. >> i'm not sure the economy is strong e

we'll see if that can trickle into the top line. >> sara eisen, thanks so much for that.ld imagine the key here. we've seen it at least with coffee prices, for example, when you're able to hike prices and if you hold onto it, the margins will be even bigger. >> absolutely. certain names, lie chipotle, people are still willing to pay for that name. prices come down, wider margins, especially if you look at the hedging. starbucks says 40% of the coffee price is hedged. if they stay high, that's okay for them, they're somewhat protected, if you will. >> the index reported the last day of july, that's the biggest quarterly jump since the third quarter of 2008. it's worth noting firms it's real, the fed is behind the curve. >> gasoline prices are actually at six-month lows, so we're seeing these prices go up, but at the pump there's some relief. >> agricultural commodity prices have crashed this summer. >> same with natural gas. >> for all hysteria, you should see what food prices are like. they cannot get off the matt. some things are down 20%, 25% since the spring. >> dom ha

sara eisen has the details. hi, sara. >> hi, kelly.average, american companies pay almost 40% in corporate tax rates while canadian companies pay roughly 26%. so, we did a little digging to find out what each company here paid last year. according to 2013 annual reports, burger king paid an effective tax rate of 27.5%. tim hortons paid 26.8%. so, you may wonder, why the deal? well, both companies' ceos went on media and analyst calls to stress the fact that it is not a tax-driven move. but here's the thing, the inversion may ultimately free up undistributed foreign earnings, which could be repatriated then without triggering u.s. taxes. >> if you look at the effective tax rate from last year, they are both roughly 27%. over time, the statutory rate for burger king should move toward 35%, and then the statutory rate in ontario's 26.5%. so, it's more of a long-term tax saving. in the near term, it wouldn't matter that much, but longer term, yes, they should. >> reporter: certainly an advantage longer term, while others see it as more of

i'm sara eisen. >>> here's another big deal today to tell you about.oche, the swiss drug company, is paying nearly $8.5 billion in cash for u.s. biotech company, intermune, helping the world leading maker of cancer drugs expand into lucrative rare disease treatments. intermune has a promising new drug to treat a lung condition. shares surged 35% today. meg terrell has more on what's driving this merger. >> reporter: health care companies have been on a buying spree. from pfizer's attempted deal to buy astrazeneca for almost $120 billion to the successful purchase of shire. mergers and acquisitions in the industry are at a record high. traditional targets, biotech companies, haven't been the main event this year. as companies pursue m & a for tax reasons. >> there has been an increased number of these transactions that are tax inversions. so, you know, kind of inverting into a nonu.s. corporation to, you know, really lower overall tax rates. >> reporter: that may be changing, lisa bako says. roche's purchase of intermune yesterday makes it still healthy

brain freeze, pot freeze, hash freeze, along with sara eisen. cnbc's sara eisen. the man that you loved as a child and trust as a mother, the president of the council on foreign relations, richard haass. in washington, bloomberg columnist, al hunt. al doesn't know what all the kids say about richard haass in d.c.? >> that's what i've always said about richard, as does the lovely susan. >> loved him as a kid, trust him as a mother. >> we're not going to talk about that editorial. i want to go first to you, al hunt, because i think one of the most fascinating things about what happened last night, obviously a tragedy unfolding on an international scale but peter baker put it best in his analysis. sending warplanes back to the skies of iraq, president obama on thursday night found himself exactly where he didn't want to be. hoping to end the war in iraq, mr. obama became the fourth president in a row to order military action in that graveyard of american ambition, and it appears, al, that he had absolutely no choice but to finally get involved. >> yeah, joe, i think

our sara eisen has been doing some digging beneath just the surface numbers, and she joins us now. well, that company, kelly, paints a much more pessimistic view of the consumer than some of the recent economic data. so, i went through conference calls and comments for the second quarter for all sorts of consumer-focused companies, retail, restaurants, food, beverage and household products. the most popular word used to describe the environment for the consumer right now, challenging. here's a little sampling for you. in north america, the overall retail environment in our categoryremained challenging, with soft traffic and permanent promotion in a retail environment for most of the quarter. that was the ceo of guess. challenging economic environment, according to kimberly-clark's cfo. our outlook for the fall season reflects confident optimism tempered with the reality that many customers still are feeling the impact of an economic environment that at best is improving very gradually. that, interestingly enough, came out of macy's cfo. macy's has been faring a little bit better th

. >>> sara eisen is at the new york stock exchange for sue today, but we begin with the big news in housing starts jumping, and for a second straight day the storks are up. d.r. horton up almost 3% today. toll and others also showing gains. diana olick is in washington. >> tyler, this is a tricky number. it combines both sippingle family housing starts and multifamily apartments like this one. so let's break it down, shall we? single-family starts we're up 8.3% and up 10% from a year ago. multifamily against mostly those apartment rentals, up 33%, month to month up 50% from a year ago. where? the big construction jump was in the northeast, also in the south, and midwest did take a hit. west is seeing a jump, because there's so many supply, but construction is really booming most in markets where most of the activity is in that multifamily. this is a new report from trulia, new york, boston, houston, northern california, these are directed at young mill lennial getting ready to resident and downsiding baby-boomers. that's why you're seeing the apartment reits hitting new all-time highs today

sara eisen joins us for business before the bell. >>> all right, all right, all right! best margarita this side of the r-i-o grande. >> i go to my friend woody, thoughtful man and friend. i said, woody, you know, you always seem to keep it pretty cool. what do you do when you've got a problem or conflict coming up in your life? he lowers his head for about 15, 20 seconds. he looks back up to me and looks right in my eyes, deep into my soul and he says, i just forget about it. that's true. it's incredible how you do that. >> it works. it really does work. vo: this is the summer. the summer that summers from here on will be compared to. so get out there, and get the best price guaranteed. find it for less and we'll match it and give you $50 toward your next trip. expedia. find yours. nobody ever stomped their foot and asked for less. there's a reason it's called an "all you can eat" buffet... and not a "have just a little" buffet. because what we all really want is more. that's why verizon is giving you even more. now, for a limited time, get more data! 1 gb of bonus data

burger king seeking to buy coffee chain tim hortons, and our sara eisen has maybe had a coffee of theirsd the details. hi, sara. >> reporter: hi, kelly. sampled the coffee and a doughnut, and i do know what the craze is all about right now. look, we don't have a deal on the table. we don't know anything about price at this point. what we do know is that the companies are talking. they did confirm this. and that if burger king does, in fact, buy tim hortons up north, that would create the third biggest fast-food chain in the entire world with 22 -- $22 billion in system sales, 18,000 chains around the world. you hit on the tax point. that really is the key here. the headquarters would move for burger king from miami to ontario. federal tax rate in canada, the corporate tax rate, 15%. that's a lot lower than 35% u.s. tax rate we have here. now, it goes higher when it comes to local taxes, but you get the point. certainly, that tax rate is a big part of the story, but you know what, analysts and investors, by the way, loved word of this deal. both stocks went up double digits. said there's

susan cameron, ceo of reynolds american, thank you so much for being here with our sara eisen.really appreciate it. >> thank you for having me. a pleasure. >>> allergen is fighting back against a hostile takeover bid by valeant pharmaceuticals. the botox-maker claiming ackman was insider trading while plotting to take over the company. will this finally get the s.e.c. to look into ackman's actions? that's next. >>> also, technology and data have already transformed the retail industry and things will look a lot different in another 25 years. coming up, find out which retailers are best positioned to lead this change and dominate the new landscape. so we're all set? yyyup. with xfinity internet your family can use all their devices at once. works anywhere in the house. even in the garage. max what's going on? we're doing a tech startup. we're going public! [cheering] the fastest in-home wifi for your entire family. >>> welcome back. allergen suing valeant, bill ackman and pershing square for allegedly violating insider trading laws. allergen is fighting a hostile takeover bid. t

>>> in celebration of my good friend and colleague sara eisen's birthdays, a picture of her child kindly supplied by her sister without her knowledge. happy birthday. you were beautiful. >> you can see a real blond, too. i keep telling you. >> the only one on the network, aapparently. time for "squawk alley." over to you. >> wow. graduated from milk to martinis for sure. happy birthday, sara. >>> it is 8:00 in netflix headquarters in los gatos, california. 11:00 a.m. on wall street. "squawk alley" is live. ♪ >>> and the welcome to "squawk alley" for a thursday. we're here with henry blodgett, editor and chief in ceo. as always, jon fortt and kayla tausche. good morning, everyone. busy day, market mildly negative. milestone for netflix. a post on facebook, ceo reed hastings said the company passed hbo for the first time of in subscriber revenue. kicking our ass in profits and emmys but making progress. we are honored to be in the same league. and a graph shows how far netflix has come over the past year. now back in 2010, the time warner cwarn warner ceo asked if netflix pose add threat.

sara eisen is down at the new york stock exchange.ing an awful lot, and passing a lot of blame on about a lot of other things. >> challenging is what they're saying, scott. it's not just retail. it's companies that are consumer focused. beverage, food, household products, a much more pessimistic view than some of the recent data would suggest. i went through a bunch of conference callses from the second quarter, from all of these types of companies to scour for ceo commentary about the u.s. consumer. let's just give you a little taste of what we found. in north america, the overall retail environment remained challenging with soft traffic and permanent promotion in a retail environment throughout most of the second quarter. that came from the ceo of guess. the challenging macroeconomic environment from kimberly-clark's ceo. tempered with the reality that many customers are still feeling the impact of an economic government that at -- that came from karen hogan, the cfo of macy's which has fareed up better. a lot more comments on onlin

. >>> let's get right to the july jobs report with cnbc's sara eisen. sara, what you got? economists were looking for. the economy added 209,000 jobs during the month of july. it's above 200,000 so it's still a positive sign but economists were looking for a number like 230,000 jobs and it's not as good as june, which was 298,000 jobs. that was actually revised higher. the other headline here is that the unemployment rate ticked up to 6.2% from 6.1%. now, it sounds like higher unemployment rate might not be good news but it actually is because it means more people are confident and they're coming in and looking for jobs and entering the labor force and that could explain why the unemployment rate is ticking higher. add it all up, it's not as good as people were looking for -- >> sara, can i interrupt you for a second? we're all shaking our heads here. do you think that somebody in the federal government could come up with a measurement for unemployment that doesn't require great reporters like you to say every month, okay, it looks like good news but it's really bad news o

joining us now for business before the bell, sara eisen, what have you got?t two-day stretch of gains for stocks in about four months, looks set to make it number three today. small business optimism, index, forward-looking index of small business pointed to signs of strength, greater propensity to hire. kate spade out with results. that company is just on fire. 55% increase in north american sales, especially a standout, given the challenged retail environment. we'll be watching kate spade and also tesla is one to watch, trading at a record high. consumer reports, which help launch the success, giving it a nearly perfect driving score a while back is now saying long-term reliability issues are surfacing, the 17-inch display screen stops functioning. slightly negative. we'll be watching tesla as well. >> sara eisen, thank you. >> can i just say really quickly, mark haperin gave me from page six, the markets, donny deutsch in the hamptons playboy theemd party last night. >> bold faced name. >> donny deutsch. if you want to know why there was a hiccup in the as

. >>> in celebration of my good friend and colleague sara eisen's birthdays, a picture of her child kindlyister without her knowledge. happy birthday. you were beautiful. >> you can see a real blond, too. i keep telling you. >> the only one on the network, aapparently. time for "squawk alley." over to you. >> wow. graduated from milk to martinis for sure. happy birthday, sara. >>> it is 8:00 in netflix headquarters in los gatos, california. 11:00 a.m. on wall street. "squawk alley" is live. ♪

sara eisen, back to you. >> not bad, that manufacturing number at 57. thank you, rick. today and what does that job report mean for fed policy and interest rates? thank goodness our senior economics reporter steve liesman has the answer back at h.q. comment also on ism, pretty big beat there. >> big number there. rick is absolutely right on that. you had the employment index up to 58.2. that's the best number since june 2011. the new orders index, highest since december. very good internals there. the construction data, again, a huge disappointment. the revision upwards, going to matter for may. then you have this big negative for june, unclear. and we'll tell you as soon as we get it how all this factors into the revisions of q2 and ultimately what we'll have on monday morning, the first look at the third quarter. let me show you this data. the only thing that matters is the impact on the fed. nonfarm payrolls, people saying not too hot or not too cool. 209,000 -- that's my typo there. the participation rate, people coming into the workforce, what does that mean? that'

sara eisen's greatest moment in her career as she delivers that. >> i've been waiting for a long timecept your als ice bucket challenge. and in turn, i challenge simon hobbs with cnbc. bring it on. oh, man! >> yes, the coo of carnival, i accept your als ice bucket challenge for charity. >> and i couldn't be happier to do it. >> oh! >> i got it on myself. >> that is cold. >> and applause from the crowd. >> and i now nominate the coo of priceline, darren houston, i nominate you and the booking.com team in amsterdam. the ceo of mare not, arnie sorenson, i nominate you and your team outside d.c. and i also nominate the ceo of gopro, nick woodman, to pull off an event like the als ice bucket challenge as only, i assume, the gopro team can do. thank you, sara. >> you look very nice in your little t-shirt. the crowd is happy. how about you pick those people? >> lots of thinking. and they're good friends of the show. >> it's raised a lot of money. it's gone absolutely viral and it's huge. >> they have raised just over $15 million so far. that's up, i think, from $7 million last week, which is

. >>> and that brings us to cnbc's sara eisen. scandal. >> there's a lot we still don't know about this hack attack. the biggest question that the authorities and fbi are going to figure out at this point, is it financially motivated? in other words, we are hearing from sources that some of the credit card and account information was stolen, but not clear whether they're doing anything about it or using it or any consumers are facing losses. was it that or simply to gather intelligence which would point more to the direction of the bloomberg report that it could be state controlled. no definite answers on this point so i don't want to overplay what the motivation or who the source was. >> hold on. sara, that's what we do here on "morning joe." we overplay things, we generalize. we try -- >> rumors, speculation. >> that's it. you have just described -- like that's our show. that was a pitch for a show. we're just going to make a lot of stuff up. let me ask you something about this warren buffett, burger king/tim horton's deal. now

also we've got managing editor of the news website, bobby ghosh, sara eisen and op-ed columnist danabecause dana always cheers everybody up. >> he writes only about the happiest things in washington. >> he's polly annish, i beneficiary he had would be a bit more biting at times. >> the economy is better. >> and see that's the thing, okay. the economy is -- >> no. >> hold on. the economy is better, sara, right? >> right. >> but nobody is noticing that it's better. >> well, no, they do notice. that was what was interesting about our poll. they know the economy is better. it's just not better for them. >> why are they so depressed? >> it's a number of things. first of all, they're not recovered from the recession. yes, financially they have recovered, but there are still one in three americans that are either supporting a child over the age of 21 or a parent over the age of 65. the great recession made that. so you have these folks sitting there, they're digging out and sitting there going i'm still dealing with the recession. yes, my income, by the way, flat, but i have a job and all t