softbank runs.uch debt atas so this point. what happens to sprint and are there other losers? jeremy: i think that is a really good question on sprint. you had the ceo of softbank saying he thinks sprint can stand on its own and it will not need another cash infusion or a loan from softbank, that it will be cash flow positive going forward. i think you have softbank saying it does not expect needs any support. other losers in the deal, that is hard to say. some armed competitors -- some arms competitors. thanks to bloomberg technology reporter jeremy kahn. up next, eu ministers meet in brussels to discuss a series of pressing issues including fighting terrorism and turkey. it is the first session from boris johnson. we will have a live report. this is bloomberg. ♪ vonnie:vonnie: live from london and new york, i am vonnie quinn. europeans is the market close. time now for the latest bloomberg business flash. blackstone group will capitalize -- rental landlords. according to people familiar, blackston

softbank executives say they've secured about $17 billion after selling some stockholdings. these include shares of chinese online retail giant alibaba group. but the firm plans to take out new bank loans worth $9.4 billion for the arm deal. in march, softbank's interest-bearing debt exceeded $110 billion, that's due to acquiring other firms including a u.s. telecom operator. softbank chief executive son says the company has a stable income coming from its core business of mobile phones. he says the firm's overall debt will not change much. iot can create a huge online network linking all kinds of items that come loaded with sensors and communication functions. one major application will be self-driving cars. vehicles will be able to discover the location of other cars as well as road signs and traffic signals. this could help prevent accidents and congestion. microwave ovens like this can also be equipped with iot technology. it can check the weather forecast and suggest a recipe using voice technology. in the world of iot, appliances will need semiconductors to control the

of course, we see softbank's offer.er of chips that going to about 95% of all smartphones significant movement into the internet of things, taking on the likes of intel. will it still get to do with the regulators? you have heard the chancellor of the united kingdom saying british assets three weeks after the brexit and they are still en vogue. is it more about the expansion into the mobile sector? softbank saying we look at this before brexit. it was already appetizing. some commentary coming about what its clients, samsung, apple, qualcomm, how will they feel about it no longer being independent? the key stock to watch and all of that is arm holdings? guy: it is all about arm holdings. we will show this later. it may have been something they were talking about before. that is a nice correlation between those two. you think the brexit is a good idea. is the market reacting rationally at this point in time? >> i think it is. things are going to start looking up immediately, they were just naÏve. slowdowngoing to see a a

the soft pound gives softbank the upper hand. the japanese company makes a -- 24 billionlion pound bid for uk's arm holding. ♪ manus: you are welcome to "the pulse." good morning, i am manus cranny could we have a lot to digest, not least a coup that went and came. it was quashed. it happened in turkey late on friday. we got the lira, stocks and the deal of the day which is arm on your board. .tocks in turkey, down 3.5% you are seeing this index down the most in almost three weeks. you are seeing this real risk aversion. recovered froma one of the most demolished emerging-market currency trades. the dollar lira at 2.94. what you are seeing is a shift. where will we go next? it go tolmost see around 2.90. goldman sachs says they reckon it will weaken. you are seeing this big turnaround. the demolition that to go way that's effective place in the currency on friday dropped nearly 5%. we crawled back 50% of those moves. 43% rally, softbank buying arm holdings. premium.e, a 43% we are bang on the money. the market seems to be pressin

. -- agree to be bought by softbank of japan. two day.e today -- the this is the biggest ever japanese acquisition in europe. they definitely have a huge preference -- presence in the mobile computing industry, designing chips the go into many mobile product. chrysler, shaking up potentially bad news? , according topany our reporting, may be under investigation of the department of justice, having to do with securities fraud. we don't know the details, but there have been civil lawsuits involving dealers potentially saying that the old more cars than they actually have. shares initially dropped on these headlines. they have since climbed back to some extent. they are only up 3/10 of 1%, but nonetheless you can see the bounce the shares have seen from the bottom and we will be bringing you developments or updates on the tory as we get them. vonnie: absolutely, thank you. mark crumpton has more from our newsroom. mark: ted cruz is scheduled to speak wednesday at the republican national convention in cleveland, but he is telling pol

softbank to acquire the company shares. pretty heavily traded in the u.s.t fallout for sprint and alibaba. sprint shares are down that would divert resources from it. earnings, we have got to talk about that as well. beating estimates. there is a slowdown in the boy's business in particular bringing shares lower. the company missing estimates and bank of america falling but not falling as much as estimated. >> thanks. we are about an hour and a half away from the european market close and about 40 minutes away from the equity market close in turkey. --ant to start with the 100 four set in stubble 100 index -- instanbul 100 index. moving on, we have seen a bit of resilience to the geopolitical risk. we were seeing gains as much as eight -- .8%. pre-much unchanged. european stocks trimming gains. pretty much flat on the stoxx 600. julie was mentioning, this is , right now uprmer 43%, the biggest jump on record and it highest price on record. this is after softbank agreed to for $32 billion, a 43% premium on friday's close. i finally want to take a check on st

in march softbank's interest-bearing debt exceeded $110 billion. that's due to acquiring other firms. son says the company has stable income coming from its core business of mobile phones. he says the firm's overall deb will not change much. iot can create an online network linking. one major application will be self-driving cars.. vehicles will be able to discover the location of other cars as well as road signs and traffic signals. this could help prevent accidents and congestion. microwave ovens like this one can also be equipped with iot technology, can check the weweather forecacast, and sugge recipe using voioice technology. >> will lead semiconductors to control their sensors and other devices through the internet. they're working to take control in the semiconductor market. >> translator: from telephone poles to street lamps, the internet will connect all sorts of things. the network will also take in industrial equipment including jet engines and cars. i believe we'll all be able to look back on the deal ten years from now and think that w

softbank is said to be nearing a deal to buy u.k.-based chipmaker arm holding for $32.4 billion in cash. that is according to a person familiar with the matter. the deal would be the biggest ever purchased by softbank, which has become one of japan's profitable companies. representatives did not respond to e-mails and phone calls comment. china's housing market cooled last month as second-tier cities join some of the nation's largest hubs and imposing curbs to dampen prices. new home prices rose in 55 out of 70 cities in june, versus 60 in may. prices also fell in 10 cities more than twice as many as made. president obama has condemned the murder of three police of batonin a shooting rouge as acts of a coward. a suspect has been killed. two weeks ago, baton rouge police killed an african-american man, setting off protests. global news 24 hours a day, powered by more than 26 hundred journalists and analysts in 120 countries -- you can find more bloomberg's on the bloomberg at top . manus: let's bring you a little bit of breaking n

softbank buysn's arm.of america is topping wall street estimates but profits to buy 1% and the stock is relatively flat. david: welcome to the second hour of "bloomberg ." it's a busy monday morning with marcus responding to the failed coup in turkey and the bank of america earnings out this morning. thethan: softbank secured top banking global mobile holdings by buying arm for $32 billion. alix: coming up later, the tom barrick will be joining us. let's check in on the mork it's -- on the markets. the fx market was still open friday. a softer equity session in turkey and that hence mark was down five percentage points. there was no real spillover. the london was driven by the deal with arm holding. in the fx market, dollar-yen last week was the biggest week. yenakest -- the weakest since 2008. continues.kness a little bit of crude weakness, rent crude down by one percentage point. story was the real the backup in yields. treasuries at one of their worst weeks so far. the 10 year yields were having the

buying softbank is british ship maker arm holdings. in a deal worth 24 billion pounds or 29 billion euros -- chipmaker arm holdings. in a deal with 29 billion euros. >> it is one of the crown jewels of the british tech industry. arm holdings is one of the largest makers of microchips in smartphones and supplies copies like apple and samsung. its takeover by softbank will be the largest acquisition of a european technology business. the japanese telecom giant is expected to buy arm for 29 billion euros, above its market value. softbank's chairman said we have long regarded arm as a highly respected technology company. the market leader in its field. softbank has previously acquired japanese operations and the u.s. telecom company sprint. it will compete in the sector with american giants google and amazon. thedeal was facilitated by sterling falling against the yen, making the company cheaper to buy. the british government has said that the british brexit vote has not deterred foreign investment. softbank's decision confirms that britai

surging after is softbank agreed to by the designer for $32 billion.is the biggest takeover since the country voted to leave the european union. selena wang joins us along with anand srinnivasan. did brexit has something to do with this? armhey have been talking to on and off for a few years. he says it is not because of brexit. it has more to do with the timing of sales in stakes in certain companies. arm'se most of our's -- customers are in the u.s. and asia, they were not really affected. that said, the pound did drop. a 42% premium is high. emily: what does this mean for arm and the rest of the chip industry as we go through this broader shift in computing to mobile and internet of things? >> the fact this is an intellectual property company, this is not a chipmaker, they provide the intellectual property that chips can be made from. r or hardware company were to acquire the deal, there would be substantial revenue loss from arm. this was two steps removed, customer to carrier. in a sense, this deal makes a lot of sense. it makes sense that a third

softbank throws down its biggest gauntlet yet, a bid for arm. what the deal means for semiconductors. chuck robbins speaks to us about brexit, m and a, and whether or not he is backing donald trump. netflix plunging after hours, down 15% on disappointing earnings. subscriber growth dropped with only 1.7 million new subscribers this quarter. reed hastings says it is due to price increases, not market saturation. >> with new members, we have not seen any effects. we changed our prices last october. we have had a couple quarters of great growth. this is around change resistance. whatever the price is for something, people do not like it to go up. but the new pricing is working great. emily: netflix is seeing sales and profit growth from fast-growing international markets. what are investors looking for? i want to bring in cory johnson and paul dergarabedian of comscore. they do not believe this is due to market saturation. it is simply because netflix raised their prices. these new prices are kicking in. is that the reason? cory: i wish i could jus

softbank will acquire arm holdings.asa son who created softbank who runs it and made the big bet to buy the huge stake in alibaba many years ago, that has turned out to be one of the greatest investments of all time, bought vodafone's wireless company and turned it into a leader in japan, after it was a lag gerred but a slip on sprint has decided this is his next big bet. he says today is the most historical day in softbank's history on the conference call that began for u.s. investors. i'm not interested in the multiple i'm paying 36 times ebitda, he goes on to say we announce the owner of the chip design company that is absolutely number one i invest at the beginning of every paradigm shift, in the internet of things, it's going to explode. thousand devices per population what i was trying to explain will be connected and it's not just going to be things people carry around. everything will be connected. >> he's right. visionary. would have bought the stock lower but given the fact that you've got that yen/pound, it i

a potential blockbuster deal for softbank. yvonne: given how much the pound has fallen, it could be a good deal for softbank. it has been quite a volatile couple of months for softbank. will the still help them boost their image? juliette: this is japan's most inquisitive company. a little bit of dubious circumstances under which he left. share prices have been doing incredibly well over the last couple of months, one of the most inquisitive companies in japan. boughtkes in sprint -- stakes in sprint and alibaba. --is going to be quite a bit quite a test for the new prime minister. we are hearing 32.4 billion cash deal. much.: thank you so let's head back to turkey to watch the developing headlines. the government of the turkish prime minister say 6000 people have been arrested over the attempted takeover and almost 300 people were killed and 1400 wounded in the failed coup. tell us the latest. >> the government crackdown continues after friday's failed coup attempt. 6000 people have been arrested, mostly army officials and ju

rishaad: is there any industrial logic for softbank in this? don't believe convoluted logic. if it's simple, it's simple. soundingake it work like with the chip design, it can help with the phone companies which will help you get better deals. and we see this is the main reason they are highlighting. again, this is someone who has made things work in a long-term. when he invested in alibaba, it took 15 years. on a long-term horizon, it could make sense of but in the near term, it doesn't seem to make much sense. rishaad: sprint also looks a bit of a strange one as well. you could say that made some we willt does this mean get into actually designing computer chips at the end of the fit in how does that with the rest of the units? >> don't ask me. it's a good question. [laughter] some of the devices he's talking about, refrigerators and smart houses, also require steel, iron requires iron and requires iron mills so you can stretch the logic any which way but in simple terms, it doesn't fit the investment logic, strategy they have defined so far.

softbank has one third of the company also that it controls.bank, a japanese investment company will have controlling stakes. anyone that wants to come into yahoo japan will have to navigate around softbank. softbank controls the border and gets to say what happens in the future. yes, you's state will remain with yahoo!, but it is not clear who wants that asset. rishaad: it does seem that yahoo!'s remaining assets will remain, for the time being, with the holding company. they also have a big stake in alibaba, which has a stake also. >> you are going to be very close to softbank if you're going to be investing in the remaining company. i think there is intellectual property that will be left over also. marissa mayer has cap this deal selling the core assets to verizon and unifying two of the early pioneers of the internet, yahoo! and aol. verizon bought them earlier. aol, that is not exactly a winning company. yahoo! has not been a winning company, so perhaps we can get these two, what do you do when you put them together? >> they have been str

perhaps it will make it more digestible for softbank. if you look at their strategy beforehand, they have been accumulating their war chest. they've been diverting key holdings, stocks ebb cluding alibaba. so they've been building up their firepower. there is a strategy here and that strategy is access to small phone chips to help them with the rollout of incident of things. that's the big idea here. yes, it duds look pricey but the price in sterling has made it a bit more palletaby letable. we'll see tomorrow and bridge you the update. jules, back to you. >> thanks, sri. neal, a gre neal, great to have you on the phone. what do you think? >> i think it has a great strategy. if you see the orders in the last three to four years, it's been completely diverse to all clear to gaining companies to even operators and even distributors. so if you look at the potential of a.r.m., it's a competing space and has a share in smartphone space. it's almost a $25 million fortune the next five years for a.r.m. but if you look beyond that. there are dif

so it's going to be an interesting needle for softbank to thread.hey've got to not raise licensing fees so much that their partners think about going elsewhere, but at the same time, build on technologies in graphics, in wireless and other areas they can sell and make more money for customers. >> and that's probably one of the good reasons why apple has not n probably will not buy arm. that's something people talked about for years. the iphone is probably the most successful single arm device ever. but i don't know if that's true. i just made that up. it sounds right. but what you said -- >> you should run for president. >> if it's in everything. so if one company owns it, apple or, you know, samsung or something like that it may be more tricky for that to work out. >> do you see softbank as being a platform agnostic owner that can do business with every company? >> sure. why not? they don't make a computer. they don't make a phone. absolutely. i think this acquisition makes a lot of sense relative to some lately. yes, great acquisition. >> what do

reporter: softbank says it will keep its armed headquarters in the u.k.nd plans to double the number of staff over the next five years. johns. secretary of state kerry says the transatlantic partnership deal could soften the blow from a brexit. negotiators from both sides are trying to finalize the final proposal. the deal would create the largest free trade area, but has faced a string of opposition in recent months. >> it is a large market. and when you are talking about a very significant marketplace between the united states and , that has a very significant ability to act as a counter to whatever negatives may or may not ultimately attach to whatever construct is negotiated between the u.k. and europe. >> after a failed coup in turkey, a two week low against the dollar on friday. it has risen nearly 1.7 percent, trading at 2.9 against the dollar. authorities say they will not intervene to prop up the currency. instead they will watch markets adjust by themselves to provide confidence to foreign investors. let's get a check at the main index, and when

softbank to buy a.r.m.oldings for $32 million and the republican national convention about to kick off in cleveland following another deadly attacks police officers, this time in baton rouge. it'smond, july 17th, and "squawk box" begins right now. >> live from new york where business nerve sleeps, this is "squawk box." >> good morning. i'm andrew ross sorkin along with joe kernen and michelle caruso cabrera. becky is off. >>> before we do that, right now in france, they're observing a moment of silence for the victims of the terror attack in nice.

softbank could come after arm to challenge the likes of intel.ted in a converted bond -- barn in cambridge. usp is up for sale post-brexit. that could be playing in the favor of softbank. will we see a counterbid? how will we see the government react? all those big questions. whatf: speaking of brexit, are the latest indications of how the decision to leave the european union is impacting the economy? anna: a couple things to touch on this morning. from a a new forecast well-respected body that produces forecasts for the u.k. economy talking about a short, shallow recession. brexit is hidden -- hitting house prices and spending. gdp are cutting the 2017 forecast from 2.6% to 0.4%. they expect unemployment by 2019 to get to more than 17%. look out for any conversations from brussels about article 7, another article we might have to get to know. that is how european parties could respond to any delay in triggering. yousef: let's get back to the markets. perspectiveor local is the chief investment officer for emirates nbd. let's get your take on wha

what a big slum coming through from softbank. -- what a big lum coming slump coming through from softbank. nintendo, continuing to rise on the pokemon story. it has now overtaken sony in terms of market cap. and mcdonald's japan also getting a boost, pokemon story. that is because the happy meals toy sales have increased. popokemon is not even in apan yet, but it is developing story. is going toiss go find some pokemon later here in the studio. bank is widelyl expected to slow the pace of interest rate cuts when it meets today. this comes after the failed coup to get a selloff in the currency and a sovereign debt. manus: we are joined from istanbul. today we have a central bank decision and they want to use this as a message. we heard this from christine muchde, which is very business as usual, despite the political instability. how can they do this? >> look, they have already taken measures after the coup where they said, we are going to provide the market with the liquidity that it needs. this is a regular rate decision meeting. so, i think the decision, the reason why some economists m

japan's softbank buying uk based apple supplier arm holdings. david farber, david, has the story for us right now. >> i do. that's right. arm. i want to hear about the hedge fund guy and i'll wait for that. but as for this deal, of course, many people actually not expected it. they weren't waiting for a deal of this type. arm holdings, bill and kelly, not necessarily thought of as a consolidation play and not for softbank. talking about the name you might have expected. perhaps the main customer or intel. apple being the main customer or samsung or qualcomm. softbank, well, that was probably something that people had not thought about and the man who founded softbank and runs it as the ceo has been thinking about it. in fact, for quite sometime. at least for the last few months. and only recently approached the company with the deal they simply couldn't refuse. a 43% premium to the stock price just on friday and the multiples are staggering. 33.6 times the company's ebitda. 20 times the revenues. over 60 times earnings. you get the picture here.

what are your thoughts on softbank? say it is not in this space.the future of softbank. are ai robots, which is quite interesting. a lot of the chips that amd makes it would support the rise in artificial intelligence that softbank is banking on. it got amd on a really decent price as result of the decline in the pound. presentation,ot a i think it is called, what is it again? and stopor two minutes chasing pokÉmon and you will tell us what is hot in the space. space, what is hot in the is a lot of stuff below the surface. we have built up a lot of hype around the internet of things, but we don't see a lot of it. so a lot of these initiatives from smart inner prices is about cost-cutting. tois about finding ways reduce your costs through predictive analytics, where you can monitor maintenance equipment. it is about smart building solutions that will drive energy. it's a lot easier to drive a business case on something that will save money than these future scenarios that may or may not produce revenues in the future. you want to know what is not ho

we're seeing softbank opening up in tokyo.print, the struggling wireless carrier, posted its subscriber gains. you've seen softbank shares of about 3.5%. are at a two-year high on that news. and watch the stocks out of depends morning. we saw earnings come out in the last hour, and they missed estimate. the estimate was 454 billion. let us get to the first four news. >> thanks. let's talk to you -- about the u.s. politics. dnc chair debbie wasserman schultz deciding not to appear after her resignation. bernie sanders supporters ignored his pleas, interrupted in chance at the first mention of hillary clinton's name. sanders be slater along with michelle obama. -- has promised economic growth, and hopes to hand over an economy much stronger than what he inherited. the stock market has jumped 12% since he was elected in may. china has ordered its major internet company to stop all original news reporting come up giving the government control over information online. they said that companies had searcy violated regulations, causin

softbank nearing a deal to buy arm holdings.k times says negotiations are not final, but it could be the first large-scale transaction since brexit. the deal could be worth more than $32 billion. fors get straight to david the china open. lots of anticipation. are waiting for those property prices. let me give you an update. shanghai underperforming. there's very little to trade on at the moment. may be property prices will give us something positive. have a look at taiwan, a third marketigher, the latest in asia to enter a bull market. we now have eight markets. let's get the list up for our viewers. philippines,tan, indonesia, vietnam, thailand, new zealand, and india. next up could be hong kong. we are about 2% away from the 20% threshold. have a look at the off shore renminbi following the fixing from the pboc. not much reaction in the offshore space. kiwi dollar is where we are seeing the action. we have consolidated at these levels following the latest inflation data. a big drop their, 1.3% drop in the kiwi from session pe

arm does not fit inside softbank in any shape or form.ot something that softbank had and it is a complementary acquisition. arm is a solid and good acquisition. they will let it run independently. the decisions will stay in the u.k.. a steady cash flow, cash generation business. softbank's their biggest deal with sprint, $21 billion in 2013 or sprint, and it hasn't turned out well. they need a steady cash generation business, and they hope arm will be that. >> pimco turns to the hedge fund world to get a new ceo. who is the man, and why go to the hedge fund world if you are pimco? ande has had a long successful career in the hedge fund industry. he came in as the ceo of man group. he started as ceo in 2013. and you saw assets increased by 1/3 through acquisitions and the share price doubled in two years. it was a company under pressure, and he did a great job taking it to the next level. pimco is a different beast from man group. he will now be tasked with replicating that, and taking this company, restoring it to some of its former glory

softbank is a good example. britain is still open for business.us: i know everybody is talking about arm, and what will happen next. softbank getting demolished yesterday. what does that signify to you? will there be a rush of everyday -- a rush of m&a? are you expecting people to build biotech decisions? swiss investors looking to biotech companies off equity market investments. jonathan: sterling weakness, 10% off the value of arm. it is a heck of a premium. that wasn't the real issue. they thought they could get it marginally cheaper. that wasn't the issue. it was banks looking at the growth and companies that will continue growing. if britain has companies that are able to grow, that is the main thing we should be looking for good manus: the other chart -- it is the s&p 500 versus the msci on the global. this is the s&p 500. msci all world index. we have this dramatic new record , the fifth time in six days a new record, the dow closed at a record for six straight sessions. profits of clot -- profits have .eclined by 6% the longest losing stre

softbank up 43%. tom: thank you. removable wall today. we will look at the turkish going back 40 years. you can see the outright evaluation of turkish lira and that blue dot up there is when mr. one came in. if i blow this up, it is the dollar lira with president erewhon. president erdogan. a weaker lira again. the turkish lira is a litmus paper for the system. it has been terrible, then stability, then really really bad and looking for new stability right now. >> trying to figure out where to go next. that is the big question. let's go to our middle east managing editor in istanbul. our investors reacting to what we saw friday and the weekend? what is the sense in the investment community? >> well, i mean, this was the first chance that people reacting over the weekend. at the moment, the markets are down. down almost 5%. with banks especially hit hard to and the airlines and airports hit hard. so important to turkey, tourism, being hit. tom: how will this change the politics between united arab emirates and turkey? interesting calculus

. >> softbank group ceo and british prime minister discus d ed son's plan to purchase. son reassured the prime minister that he would not move arm's headquarters out of britain and he'd double the workfkforce the over t the next five years. >> translator: prime minister may welcomed softbank's commitment to england. especially after brexit. she said this move would bring a sense of security to british businesses and the entire country. >> concerns are mounting in the british market that the recent brexit vote could lead firms to move operations out of european countries. son says may pledged to do her best to ensure that investors could invest in britain with confidence. >>> a draft package of new economic measures. they include aid for small and medium sized firms to prepare for a brexit fallout. the package includes actions to restore areas damaged in the 2016 earthquake in southwestern japan as well as to improve response to natural disasters. it also recommends reducing the number of years that people must pay into the national pension system in order to receive ben

softbank officials say the companies will develop voice interaction technology that enables ai equipped cars to understand emotions. the research will draw on the technology between pepper developed by softbabank. the r robot behaves as if it ha emotionsns of its own. will sense driver'seelings anand interact with them. e t technologyy will be integrated with navigation systems and sensors installed in vehicles. >>> checking the markets. investors betting on the possibility of fresh stimulus have given a boost to tokyo stocks. phoebe amoroso reports from the tokyo stock exchange. >> investors are seeing reports that the japanese government t y be readying a stimulus package of 20 trillion yen. about $190 billion. many of them are getting their hopes up. the nikkei 225 added nearly 0.8%. that's the highest level in six weeks. the broader topix also rose 0.6%. the u.s. greenback hit a six-week high against the japanese currency. turning to individual stocks, exporters were the big beneficiaries in the dollar/yen pairing. names such as honda, panasonic, and mazda all trading higher. shares

i think softbank and a.r.m. probably see it this same way. at it with a very broad lens meaning i think the grant component of being successful is not just the processor but also connectivity and having a broad channel. we like going at that business or opportunity with the strength of the smartphone and we think a.r.m. and softbank will be good partners as we go on that journey. >> i want to speak to you about the political environment as well. i was just speaking to jeff a few days ago on this program and they were talking about the impact of protectionist policies around the globe, whether brecks sis or rhetoric on the campaign trail here. what is the impact on innovat n innovations, on companies like qualcomm if the u.s. or other countries move in more protectionist directions when it comes to business? >> you look at a company like qualcomm, most of our market and sales are outside the united states. but the majority of our wildfir workforce is in the united states although not all of it. i think it's very important for things like trade

softbank deal has me more interested in internet of things. i was early into the names and didn't live up to the hype. i'm watching huge premium. i love things so thed with housing. i think that is sweet spot second half year. whirlpool i'm doing great and mohawk, one i'm looking at, mhk. melissa: chris, what do you think? >> i think i see where it settles out to recount my numbers to seat risk to reward is. like charles is saying there are other companies out there. one of the best performers thus far i think it will be a fantastic performer back half of the year will be amazon. even where it is it is still roughly a peg ratio of right around one. a lot of upside to go there. google is looking good. many other as they say fishes in the see. david: charles, excuse me, netflix has revenue problem. they have missed revenue estimates past four quarters now it is five, five quarters in a row. isn't this emblem mattic what is happening in country where you have high stock valuations but they keep missing on the revenue front? >> revenue fronts you'

acquired by softbank group for just over 32 billion in cash.softbank into the mobile internet. and yahoo! with earnings after the bell. investors are waiting for a potential fail for assets. the company stopped taking bids and come to a decision on the sale. and investors seem to be parting ways with the fears surrounding tragedies. take a look at a higher opening reaching another record despite turmoil around the world. stuart varney joins us. your take on things, that markets and investors don't seem to react to these major upsets we're seeing? >> you know, maria, it's a mystery to me, maybe to you as well. but that coup in turkey, the news broke, i believe, on friday night. now, here you have extraordinary instability in a key nation right on europe's doorstep. i thought that that would produce a selloff on the market come monday morning. then we had the police shootings, the ambushes, that's what it was, in baton rouge on sunday and again, that raised the anxiety level for all of us here at home. and it goes back to what would translates in

you've also got to remember with softbank. is domestic companies doing well.e: who is benefiting and who is losing from the yen strength? >> for example, companies like softbank, there cash flow, they are like a utility here. they are getting a cheap day but also by using the strong yen here as well. the exporter and those kind of prophets, they have/the -- slashed the profit. so they have already taken it on the chin in a sense. how is that likely going to affect the companies in japan moving forward? >> the usually built in a cushion, but there is a big disadvantage because the yen is stronger than we anticipated even as recently as june. what we're going to see here with the bank of japan, the economy really needs a weaker yen. oda market is expecting kur to do something. it will affect the larger companies so it is crucial. iq for joining us live from tokyo. let's get a head over to china now. uber has been given the greenlight to officially operate in china, removing a significant roadblock to their expansion. what does this mean for the operations of bot

softbank plans to fund the purchase.educing their ability to fight funding directly from sprint. >> one company is witnessing a reach of the nation and stock peter shares of dove -- of dove and holding -- and stock. which has been vilified by president erdogan as are presenting old turkey. border connected it to with erdogan via face time when his whereabouts and status were still unknown. flashat is your business update. >> the latest on turkey, stocks plunging after the way -- after this weekend's failed coup attempt. the index losing 9%. dollar giving back some some ofr getting back its gains. at joining us from washington is ancan add a mere -- is ayken erdemir. theident erdogan called coup a failed gift from god. i can bank -- arrested 6000 soldiers but his purges not limited to the military. i was thousand judges and prosecutors have been relieved of duty and arrested. this is the short-term affect. the midterm effect could be that it will probably produce -- -- hely boost erdogan's will use the opportunity to push

big move for softbank and what they're doing over there. york stock exchange where jim cramer joins us now. mr. cramer, what are you looking at? >> i think that you say that you wish you owned it. someone who bought a lot of calls at the end of the day. that guy must have been very smart and thinking how well mobile semiconductor stocks are doing because that's quite a buy there some of the money calls, quite simply brilliant. >> you think intel should have bought it today? >> i wanted intel to buy it when it was about $12 billion and they were like come on we can build it. almost everybody believes they can build something better than what someone is selling for. this was a great buy. sara was doing the calculations how great it was with the yener are sus the pound. the country put stuff on sale. will the british government like it? the canadian government was not allowed to see its crown jewel be sold. this is the crown jewel of technology for england. interesting what they do. >> does it say anything about post-brexit england? >> just th

softbank down .9%. analysts say there could be an upside.g reporting in korea, .3%, even though its operating profit rose in hong kong and china. and this is the future of those gold stocks. thank you, juliet. let's go back to philadelphia for the democratic national convention. tim kaine is speaking there. saying he trusts hillary clinton with his sons life. at the beginning of the speech he was talking about his son being deployed with marines. it doesn't seem the democratic to disaffected republicans, should they want to come. they also talked about security concerns, as well, and accusing donald trump about his transparency when it comes to taxes, asking whether he is saying, donald, what are you hiding? and questioning whether donald -- hisng his there share fair share of taxes. we are also waiting for president barack obama to address the convention. that is coming up a bit later. but this is the vice presidential nominee. not rico, rich. means in spanish is battle-tested, rocksolid, up for anything, not backing down. and friends, hill

we see softbank shares down 1% in the early session. yen continuing to strengthen and put the downward pressure on japanese equities up half of 1%. having a look at the oil contract after it fell to a three-month low during the new york session, we see a little bit of upside in the asian session. it is at $42. yvonne: thank you so much. , nintendosurge share has had a setback since the release of pokemon go. posted a worse than expected quarterly loss and elaine the release of a tss three for gamers. let's bring in our correspondent for more. it really went from pokemon go two pokemon no. >> it is important to remember these earnings reflect the time just before pokemon go. what we really saw their was a weaker underlying business for nintendo, because of sales of and the impact of the stronger yen pushed nintendo to a net loss of ¥24.5 billion. that is probably going to be a trend you will see in the coming quarters. obviously because pokemon go as we heard from the company this week is not going to be that much of a driver, but still,

japan is controlled by softbank. they have a controlling stake. yahoo! has a stake that is roughly the same size. the remainder of yahoo! will hang on to the stake. very valuable at this point but hard to see where it would come in. left withl also be this stub of alibaba shares. >> you will be very close with softbank if you are investing in the remainder company. >> they invested in sprint a few years back, which is a big deal for them. rishaad: bizarrely. >> they struck their biggest acquisition ever. i don't think they have spare casts -- cash around to take extra stakes and i don't think they want any more stock. rishaad: they said look out for some more crazy ideas. this may not be a crazy idea. taking of course verizon the core business. he doesn't necessarily create a success. >> you do give the two businesses a little more scale if you are able to integrate them together. tim armstrong is a former google executive who runs verizon right now. a lot of google talent in this industry and it will give them a little more scale to compete in online me

. >>> japanese telecom operator softbank group is reportedly preparing to acquire a uk-based chip holder arm holdings. the foreign acquisition is among the largest ever by a japanese firm. arm designs and licenses chips mainly for smartphones and tablet computers and enjoys overwhelming market sharare acrs the globe. observers sasosoftba wanantso secure core technologygyor smsmartpnes and keke theead d in the so-calleled internet of things. that's the ia a thatll products, including elecicic appliances and automobiles, will be linked through the internet. >>> three law enforcement officers in the southern u.s. state of louisiana have been shot dead. three others were wounded. [ gunfire ] the shooting occurred sunday morning on a road leading to an airport in baton rougege. >> several louisiana law enforcement officers were shot. multiple officers were transported to local hospitals for treatment. i will tell you that three officers have died from injuries. >> the only suspect, a 29-year-old african-american male named as gavin long, was shot dead by pololice. on july 5th, white police of

softbank is still an acquisition that is a 25% premium on its highest stock price.umber of sab investors are thinking, there might be an opportunity. guy: chris, what do you make of this? you've got this arm story sitting here. a lot of people are running the numbers and saying, the pound is down. there are opportunities here. do we need to revisit all the stuff we are looking at? christopher: it has become the most volatile currency in the world, and massive deals are being derailed. we have heard anecdotally that --ry transaction the works in the works will be stopped dead. it's quite worrying from an economic point of view. caroline: do you feel there could be more m&a flooding in from the pound? is their opportunity as well as other things being stopped dead? thomas: if you look at the commercial property sector, there are opportunities. you got the decline in the pound. foreign investors will be taking a good look at it, but i worry about the volatility of the pound. you can do a lot of planning ahead of article 50 being triggered and see the pound at 1.50. i d

chip stocks surging after japan's softbank unexpected lie acquired arm holdings of the uk for $32 billion. which other chip names could be gearing up for a breakout. carter worth is at the smart board. >> thanks. i'm looking at a laggard in this case and sometimes that's very dangerous and sometimes it's where you get the good eating. it's qualcomm and the visuals speak for themselves. you have the semi-conductor index in blue and qualcomm over the past year. so you see a spread here of 2300 basis points. i want to pull it back on a five-year basis where the whole thing broke down. basically whatever qualcomm i'll leave this to those who study the funny-mentals. whatever the problem was over the past two years, it looks like that's starting to change. the stock got cut in half 82 to 42. that bottoming out action is what appeals to my eyes. let's draw some lines. 82 to 42. you could just do a simple trend line. take it away, put it back. i mean, we've broken above the trend line. you can name your pattern. some people like head and shoulders, cups and handles. we could put another shoulder

softbank decides shares dropped over 10% in tokyo as investors expressed concern about its 29 billing-euro-- 29 billion-euro deal to buy a british ship designer, arm. the british chip designer is the biggest ever acquisition. anna netflix reported a higher-than-expected number of canceled subscriptions and slower growth. the video streaming service plans to raise prices slightly in the u.s. this year, which analysts say is encouraging prospective customers to consider rival services like amazon. shares dropped 13% in after-hours trading. uber says it's at has been used more than 2 billion trips in more than 450 cities around the world. the milestone comes six months after it marked a one billion-ride marks from which it took six years to reach. uber has been boosted by $5 billion of funding. one last story for you now. vancouver may take the radical step to tax vacant houses and apartments. the move that city officials hope will drive skyhigh prices to become more affordable. prices are forecast to rise nearly one third this year compared to 2015. the city has strong demand thanked with po

we just saw softbank's for instance over $30 billion aacquisition of arm holdings. that's on the back of the stronger yen. the yen has moved from 120 yen from the beginning of the year to current levels i just showed you around 107. it hit 99 yen after the brexit vote came out. quick look at asian markets this morning. and we're in the negative seoul's kospi trading in the negative. markets open in an hour, ai, we'll have more then. >> thanks a lot for that update. ramin mellegard from the tokyo stock exchange. as he mentioned japanese construction machinerimaker komatsu says it will buy a major u.s. mining equipment manufacturer. komatsu executives say they will pay nearly $3 billion to turn joy global into a wholly owned subsidiary. they say the acquisition will be completed in 2017. global sales of mining machinery peaked in 2011, then declined due to china's slowdown and a slide in commodities prices. but komatsu is predicting the mining equipment business will grow over the long term. india will help boost the need for copper, gold and other minerals. they say