steve kovach. one more question related to growth since we're talkingabout stocks like dell for a moment. you mentioned jeff degraf looks at charts and makes call what he sees. growth value. growth versus value. watching that closely? >> yeah. >> broken down lately. >> it has. saw it move parabolicly higher in a straight line in june. then corrected in a straight d down in july. below 50-day moving average suggesting possibly going into 2025 you could see some of these bigger leadership rotations. the question is, does the broader market like that? the lesson from '22, value led but we were in an overall bear market. could be a question of, be careful what you wish for with growth versus value. >> bring in christina hooper of invesco and america investments. welcome to the program first time. christina, you first. do you agree or disagree with these views? >> agree with what a lot of she's saying. the other 493 will be able to deliver enough to satisfy markets. so i agree. it's a high bar. they pro

it was a trump rally on your phone. >> steve kovach with the trump-musk session. very much. >>> coming up on the show, getting defensive. the stock our next guest is breaking out with and why you should do the same. >>> if you viceyou haven't done follow our podcast on apple or spo spotify. we'll be right back. with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity. >>> welcome back to "worldwide exchange." time for the "wex wrap-up." cnbc learned former economic council director under president biden, brian deese, is advising vice president kamala harris. >>> we are watching shares of jetblue set to add more than 20% drop this morning after moody's downgraded the earnings about the financial health of the airline. >>> boeing reports july orders as boeing tun continues to redistrict the deliv

steve kovach, i guess we thought we would be looking ahead to earnings. of layoffs at cisco. >> it's going to be a big day for cisco next week. cisco is planning, scott, its second round of mass layoffs. that's going to affect thousands of employees, according to a new report today from reuters. cisco back in february cut 5% of its workforce, or about 4,000 employees. reuters saying the new cuts will be of a similar size. cisco is cutting costs as it transitions to a.i. focused sales and absorbing cyber security firm splunk, which it bought for $28 billion in a deal that closed back in march. no official word from cisco on the layoffs but the company is set to report earnings wednesday next week. shares right now down shy of 1%, scott. >> i'm sure we will. steve kovach, thanks. you have a good weekend. phil lebeau, what do we know about stellantis, phil? >> job cuts, that will be going to one plant in the detroit area. not a huge surprise here, scott. what stellantis warned is the warren, michigan, truck plant, potential impact on 2450 jobs. not all throu

send it to steve kovach for a look at the biggest names into the close. i don't know how you pick on day like today because there are many. >> yeah. let's talk about kellanova because they're safe from today's selloff after reports mars is in talks to buy the food manufacturer. shares up about 15% now. kellanova, of course, is the company behind products like cheese its, eggo waffles and pop tart, everything in my pantry basically. with today's move kellanova has a market cap of over $24 billion. mars, which makes m&m and's snickers a private company. to crypto because those crypto currencies falling hard through the weekend into today. following friday's disappointing jobs report. the biggest drop in japanese markets overnight since 1987, bitcoin dropped below 50,000 for the first time since february and crypto related stocks like robinhood, coinbase, micro strategy and marathon digital are all falling in sympathy as well, scott. >> steve kovach, thank you. come back to you in a little bit for more stocks on the move. we're all over this selloff. recessi

but we start off with steve kovach who has the details on apple's beat on the top and bottom line. steve? >> hey there, mel. and not just a beat on the top and bottom lines. they return again to top line sales growth. that is one of the big headlines on this report. let's go over the results here, though. eps was a beat. $1.40, street was looking for $1.35. revenue, a beat at $85.78 billion, and that is up 5% year on year, about where apple had guided to last quarter. and iphone revenue, a beat here again. that is $39.3 billion, and services revenue, $24.21 billion. slightly beating expectations, but up 14%, continuing that double digit growth in that segment that we've seen over the past few quarters. and then i also got a chance to catch up with ceo tim cook about these results, and, of course, i focused largely on artificial intelligence, and where it plays into the iphone upgrade cycle. and, of course, capital expend s expenditure is the big theme this quarter. let's talk about what he told me on a.i. spending and capex. first on a.i. spending, telling me, quote, what we've done

steve kovach has those details for us. what are we learning here? >> take a look at shares of the fubo, the sports streaming service. they're up about 17, 18% now. this is after a judge just put forward an injunction blocking venue, another sports streaming service, from launching. that's of course the joint venture between warner brothers discovery, disney, and fox, where they're going to have this combined package of live sports for, i believe it's 43 bucks a month. and this is putting a temporary injunction on that service from launching. it was set to launch this fall based on an antitrust lawsuit filed by fubo tv. for now the judge agrees with fubo and it's going to put on hold the launch so they can have another hearing about this, i think, next week. but you can see shares of fox and disney and warner not moving too much on this. but fubo is up about 19% now. scott? >> we'll follow it. steve kovach, thank you very much. >>> apple, meantime building on recent momentum amid the broader market buildup. now up 14% off the lows of last week. and a

let's talk about with this with dan newman, kate rooney and steve kovach. steve, you cover apple. understand you have a new report involves those companies. so kovach kick us occupy. i'll live that to kate. >> oh, sure. no problem. >> it's in the midst of raising new funding and that it's likely going to be a roughly $100 billion valuation, though i'm hearing from a source it could top that number. the bug news today is from the "wall street journal." they are reporting that apple is a part of a massive funding round and they are indeed looking to invest officially in ai. using openai on the back end, but this is huge news in ai, against, according to the journal here citing sources. they also reported yesterday that microsoft is getting in on this deal. you might call it a party round, but you've got names like microsoft, apple trying to back the hottest name in silicon valley, looking to be more than a $100 billion valuation. i was just talk to get a venture capital investor trying to browned write this deal, and they were saying basically it's a -- it's well past the early-stage

. >>> let's send it over to steve kovach. >> yeah, shares of carter health up better than 3% following the earnings. it beat wall street expectations on the top and bottom lines. on revenues of nearly $60 billion. >>> shares of victoria secret also surging after naming a new ceo she start on september 8th. victoria secret provided early quarterly earnings coming in above its guidance. >>> thanks. up next, fed cuts are fast approaching. two stop strategists are standing by. standing by. you're watchin so this is pickleball? it's basically tennis for babies, but for adults. cnbc. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free. (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get

after they disappointed, steve kovach is digging into the key things to watch when apple reports. y on site, getting ready. >> yep, i'm at apple's site in cu couper chino. overall sales had been down five over the last six quarters largely on weak iphone demand in important markets like the united states and china. they expect the iphone sales to slump. that's an improvement from the 10% drop we saw in the march quarter, but what you should be watching out for is guidance from apple that the iphone is about to return to ground again. they're expecting a big upgrade cycle driven by ai features coming later this year. the september quarter is expected to include at least a week's worth or so of the next generation of iphone sales. now, there's some implications here, too, the ai rollout in other countries, especially countries like china, it's going to be a big complement. it's unclear how apple is going to tamle that one. one more thing is capital expenditures. that's a huge issue. we learned this week apple likely didn't need to spend boat loads of cash to create its own. they trai

>> steve kovach and the bevy of reporters that we have here.'s talk more about crowd strikes earning report. with me, peter. peter, you have a price target here a that was lowered 325 from 350. you still have crowdstrike as an outperformer but you added it to your outperform lifts. explain how readers should read the guidance. >> sure. our call is it's a tactic call into the quarter, so directionally, you know, given the uncertainty with crowdstrike, trying to understand what the numbers look like over the next call it 12 to 18 months, we're taking a stance there's a better risk/reward opportunity depending on what they give us in terms of numbers. >> how important is the earnings report itself that indicates what happened in the quarter and how would you compare that report to the importance of the earnings call and what gets said in answer to analysts questions? >> sure. contessa, i think you said it earlier. this is the first time we hear publicly from management. i don't think q2 is much of a concern. the incident was fikes, six days until

steve kovach joins us with more. >> look, this is going to be the next level in that budding romanceld trump and elon musk. musk is going to be hosting that conversation with former president donald trump 8:00 p.m. eastern on x spaces, audio only. no idea what to expect here with these two men. musk tried this last year when florida governor ron desantis announced he was running for president. well, x melted down on that one. it was a complete disaster for the coming out campaign for desantis. all we know, two of the biggest personalities in the world are going to be broadcasting their conversation. in the meantime, trump today made his return to x posting what seems to be a campaign video. in one case it was labeled as an advertisement, but also unclear if that is regular post or not. there are regular posts as well. look, it's unclear who is really -- if he's spending real ad dollars on x. we know the history between these two. musk endorsed trump after the assassination attempt and has a trump-supporting pac he's bankrolling. "the wall street journal" reporting the pac's mission i

let's got to steve kovach with the details, and why it remains somewhat immune here. >> after hours, 2.5% so, a big reversal there. apple is growing again after sales declines in five of six quarters the company says to expect slay grown for the quarter we're in now. services is picking up much of the slack. it says it will have another double quarter, everyone's looking to the iphone 16 cycle, of course, which the street believes will see a big upgrade boost. tim cook on the results, and asked him what demand signals he's getting following the ai announcement. he says it's not clear until apple ai actually launches, but he said it would make a compelling reasons for folks to upgrade. china is a big down side here. sales were down of 6.5%. chinese customers tend to bike with cool new features, but it won't be easy for apple. the government needs to give its blessing first. i asked about cook that ai roll-out. he told me, quote, we're working on exactly what we will do there. there are definitely regulatory questions we have to respond to, and we're working constructively on those. ke

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steve kovach.eep an eye on between delta and microsoft and crowdstrike. we see the s&p up 1.5%, nasdaq up 1.8%. mike, let me come to you in the brief time we have. anything you're going to be focused on during the rest of the trading day? >> it's mostly about whether this market seems capped right here. i mentioned we were above yesterday's highs, basically went right back to that level. we're kind of fighting it out. to me, we're in the sort of tactical zone of is it safe to add back risk, because there has been a real, i think, a bit of a purge of positioning coming into this. in fact, you also saw some data that monday was one of the most active days for people shuffling around their 401(k) investments. so there clearly was a lot of attention and money in motion on monday. so people are wondering if it's safe to the normal highs, what they were positioned into last week. >> a lot of frustration in terms of getting online for some of those actual retail brokers. we're keeping a close eye on these

steve kovach has the very latest. hi, steve. >> yeah, tyler, maybe this one not as bad as feared. up, like you said, about 4%, following the beats on the top and bottom line. but the more important thing, we got new financial information on the i.t. outage in july. cr crowdstrike said it caused a 2 cent hit, and expects a $30 million hit over the next two quarters. as for the top and bottom line results, these comparisons do not include the outage impact. revenue, $964 million, street wanted $985 million. skrou crowdstrike is cutting guy dance. the ceo did reapologize for the outage and talked a little bit about how they plan to make good, but still more questions that we expect from analysts, especially over the fight between delta and so many other customers, tyler. >> all right, steve, thank you very much. and let's go to the other steve, steve grasso, to trade it a little bit. what do you say? >> so, you know, this is usually not where i'm at with accountability on this type of an instance here, but mark me if i'm wrong, you follow this on a daily basis, i follow the stock, bu

steve kovach joins us now with the details. with the cfo change, steve. >> yeah, this is important. this is luca maestri, he's stepping down on january 1st, 2025, from that cfo role and the new cfo taking over is kevan parekh, he's on the finance team under maestri. one of his top lieutenants, as well. he's going to be joining the executive team as of january 1st, reporting directly to ceo tim cook. maestri is going to stay at apple, though, he's going to lead a corporate services team that manages things like real estate for the company. that's going to also start in january. now, maestri's been a longtime apple executive. he became apple cfo in 2014, a year after he joined apple's finance team. since then, stock up just 786%. and as for the incoming cfo, he's been at apple 11 years, and before that, worked at companies like reuters and general motors. stock is not reacting too much. but look, i think the real lesson, there was a succession plan in place for this role, apple went out of their way to say this was always the succ

steve kovach joins us with a closer look at the quarter and what was said. >> crowdstrike reversing whatowdstrike beat expectations in the top and bottom lines in the first report since the outage in july. we got the details on the financial impact it had on the company. crowdstrike said the outage caused a .2 negative impact to earnings per share. stock rose initially on the results but went negative after-hours when the ceo gave a meandering answer about how crowdstrike is looking at the integration into windows. as for the top and bottom line results, those were beats but do not include the outage impact. it's cutting its full year guidance likely because of the subpoen subscription revenue hit in the next few months. on september 10th, crowdstrike and other security companies will meet at redmond. i will send it back over to you. >> we know you will be watching, steve. a lot of backpedaling on that call for the outage they created. >>> tonight on "mad money," do not miss george kurtz. we're back in three. >>> welcome back to "squawk on the street." i am silvana henao with your cnbc u

steve kovach >>> still to come, starbucks shares surging after replacing the ceo.k a buy at these levels? we're going to discuss that when we come right back. medicaid, i have some really encouraging news that you'll definitely want to hear. depending on the plans available in your area, you may be eligible to get extra benefits with a humana medicare advantage dual-eligible special needs plan. all these plans include a healthy options allowance. a monthly allowance to help pay for eligible groceries, utilities, rent, and over-the-counter items like vitamins, pain relievers, first-aid supplies and more. the healthy options allowance is loaded onto a prepaid card each month. and whatever you don't spend, carries over from each month. other benefits on these plans include free rides to and from your medical appointments. you pay nothing for covered prescriptions, all year long. all plans have dental coverage which includes 2 free cleanings a year, fillings, and a yearly exam. they also have vision coverage including vision exams and a yearly allowance towards eyewear

. >>> meantime, epic games maker of "fortnite" and we have steve kovach here with more. >> they are launchinge on the iphone. you have one of the chief antagonists challenging apple competing with the app store for gaming. gaming is the most lucrative part of the app store business. 70% of the business. this is all possible because of the eu digital market act which went into full enforcement this spring. it forces apple to allow third-party app stores on the iphone for the first time. the european commission says apple is likely not complying fully with the dna. apple is still collecting some fees on the third-party app stores. those fees are less than before. epic says despite the fees, it is going to be launching the store anyway. on the call with cnbc, tim sweeney said the fight is far from over. he will still push the ec to push apple to lower fees. epic's goal is 100 million installs of the store across iphone and android. starting with its games at first, just a few of them. that includes "fortnite" return together iphone. it got kicked off in 2020. it wants to offer more games. this i

steve kovach joins us with the details on that. >> that's the real story, spaces, the live broadcastinghappened here. minutes before the 8:00 p.m. launch time for this conversation, trump posted a link to the "x" spaces and there were just errors for people getting in for several minutes. musk eventually tweeted that it was a ddos attack, which means basically attackers flooding the site with fake traffic in order to take it down, also claiming that he tested it with 8 million concurrent listeners before the event, but i would just note that the rest of "x" was working fine, outside of that one "x" space. and it finally started around 8:40 or so, 40 minutes late. here's musk explaining the delay on the space last night. >> hello, everyone. so, i apologies for the late start. we unfortunately had a massive distributed denial of service attack against our servers. and all of our data lines, basically hundreds of gigabits of data were saturated. we think we've overcome most of that and, so it's now time to proceed. but as this massive attack illustrated, there's a lot of opposition to peop