talks are heating up about a possible cbs/viacom merger.merger talks are complicating the new ceo search. the ceo would have been found by now, would have been ianiello, maybe bob bakish. that would have been found out by now if they didn't have merger discussions. liz: there it goes. >> that's what's going on right now. discussions are clearly impacting the ceo search because nobody knows who the new ceo is. this is heating up. i'm hearing from people close to the board that if you were going to say what is the most likely scenario here, okay, it is that cbs now merges with viacom, that's what they're talking about internally. i'm not saying it's definitely going to happen. just to be clear here, it doesn't have to happen. this is a very fluid situation. but they are clearly focused on that now, and that's why you haven't seen the new ceo. the most likely outcome, if that does happen, and again, it's an if, is that what i understand is that bob bakish, head of viacom, has the inside track on the ceo job. that's what i'm hearing from people

then do you really want to run the whole thing with viacom. i have nothing against viacom.e a big watcher of "the jersey shore" and mtv. i'm not. liz: right up my alley. masterpiece theater from jersey. >> it is a more mature product. cbs is a maturing product. liz: you are immature. >> no, i'm not. stop. you are so nasty to me. in any event, it's not the most ideal ceo situation in the world right now. even though cbs is like -- has this great news division and a long-time, you know, wasn't it known as the tiffany network? that's where we are right now. very confusing situation. it's holding up this search which is past its unofficial deadline. the viacom thing is still on the table. liz: charlie, thank you very much. i am so nice to him. >> where do i begin? liz: nine minutes before the closing bell rings. where does he end? hot money, cold comfort. the market's warming up a little bit in april but is there a cold front coming? our $800 billion closer, you heard me right, tells you how to heat up your portfolio with some cool stock picks. can i get some help. watch his he

she's pushing again for the combination of viacom and cbs. announced as that conference happens. back to you. liz: charlie, don't ruin my hometown, please. please. >> listen, let me tell you something about your hometown. your hometown has gasoline selling at $5 a gallon. liz: so? >> this is insane, this place. this is why people spend 50 grand on a tesla. because you can't buy gas for under -- liz: the vice president is on our screen right now, he was just talking to people at an ice cream parlor. they are all heading to iowa. pretty interesting. >> i will tell you this. one of the things at this conference is the democratic party, what's going on there. listen, this is a financial conference. there are a lot of democrats here. they are really worried about the far left tilt of the democratic party, how it might blow up the markets. they are counting on biden winning. just so you know. they think this guy has a shot if he gets through the primaries, they think he can beat donald trump in the general election. liz: a lot can change in the nex

. >> caller: in the big game hey, i have my question, though, is regarding viacom and cbs. i'm a long-time viacom shareholder and have a little bit of shares of cbs and can't believe how cheap the stock is for viacom with the price earning of 7.9% and maybe paying a dividend of 2.7 it seems to me that a cbs-viacom merger should be a no brainer, especially with talks that there could be up to $1 billion of cost synergies what is your view? >> john, i could not agree more which is why viacom is a huge position for our charitable trust, which you can follow along by joining the club. we got a call on friday at 11:30 and i'm going to say exactly what you said. i may even borrow it from john in florida because that's exactly how i feel i think viacom's the cheap one just in case because i think they're having a good quarter anyway peter in california. >> caller: hi, jim >> peter, what's up. >> caller: thanks for taking my call hey, i bought ayx stock in january this year for about $71. >> nice. >> caller: now it's around $80 in the last two weeks, it's dropped every day a little

if that viacom thing happens, then it does become a question of who becomes ceo.h or ianniello. the talk inside of cbs says it's likely to be bakish based on his relationship with shari redstone who now controls national amusements. liz: what is the strong case for the cbs board to say sure, let's merge with viacom. nickelodeon ratings are tanking, mtv is not what it used to be and this board independently before the new members were put on, they had pushed it away. >> it's a great question. but you are assuming that cbs is in a very strong position. just so you know -- liz: it was. >> it was. every broadcast network out there has come under the pressure from cord cutting. cbs is coming under that pressure. just point of fact. the reason why the fox regional sports networks which are being auctioned, we heard as of late last week, sinclair is in the lead, they were thinking of getting $20 billion for all of them. they are going to come in at $13 billion. it's a simple fact that people are consuming programs differently, particularly, you know, millenials and young

started from once next week rolls around unless apple comes in on monday and bids for both abs and viacom not going to happen. while occidental scooped up apache, and we get perfect quarters from citigroup and goldman sachs. highly unlikely. this isn't a what have you done for me lately market it's a what have you done for me this morning market. with that in mind, what's the game plan for next week? let's start with citigroup and goldman sachs. citi will have a hard type topping jpmorgan it could be more like wells fargo, which was a tab subdued only closed down about $1.25 i doubt sit tee will be as bad, but the stock is running up too much at this point don't get too excited. people want revenue growth, not endless buy backs. goldman stricker, the ceo made his mark, and i like his mark, but it will be out for these guys with the huge corruption case in malaysia as far as i'm concerned, this turned on whether goldman's compliance team knows what they're doing. i think they're the best in the business, but you can't always stop every potential crook who works for you. if the stock pulls

cbs, viacom, discovery, lion's gate, people have been talking about cord cutting for several years everstarted to lose subscribers, you're now finally moving in the other direction. think for the video game companies, ever since fortnite came out, people have been switching to free to play. electronic arts finally have good free to play game. that's how i'm thinking about it, john. everybody loves the names we just talked about, the microsoft, googles, amazons, apples for the most part but these other names are pretty unloved. the big giants are going to need their content. >> dan, that's good stuff. look forward to hearing more from disney this week about that space. always good to have you. thanks for calling in. >> my pleasure. >> dan niles. >>> the dow's down about 118 points right now. take a look at the worst performing stocks in the average so far in today's session. far and away, boeing biggest drag down 4%. resqwkll" mo "ua aeyafter this break. don't go anywhere. >>> european markets set to close in two minutes. stocks lower in monday's trade ahead of what investors are expecti

. >> by that logic, does that mean good things for the likes of viacom and our own parent with universalt >> well, it's interesting. so we upgrade cbs to a buy this year because we started looking at cbs's value and saying, you know, cbs has a ton of library tv content that another service would use. i think -- i think when it comes to these other companies, nbc u has to commit to what disney has committed to. i don't think they will. so far they want to build an a bot service not an s bot service. they bought -- everyone's now realizing that there's two flavors here. there's an s bot which is what disney and netflix are and there's advertising video demand which is where viacom and nbc are playing. so the question longer term will be will they pull back more library content from the likes of netflix or will they continue to selling to netflix? at some point you have to be all in i think to get the street's attention and that's what disney did yesterday. >> michael, near term and long-term, how do you think this plays out with hulu? we know the aspirations to bundle all three of these st

and viacom adding a stamm cam. fans can watch which reaction cams they want to watch.cans plan to spend a record amount on mom this year. mother's day spending will hit 25 billion up from 23 billion, working out to roughly $196 per person. jewelry, special outings, gift cards, flowers, and electronics. marcus and lawyer, back to you. >>> don't forget about mom. >> or call and say, i love you, mom. >> you should do that all the time. >>> coming up here on "today in the bay", a cool start to our morning. the question is, kari, how will the day end up? >>> it's going to be another nice day. low 70s in the south bay. a live look at san jose. starting out cool with 50s. low 60s by 11:00. so a slow warmup today. a look at our microclimates coming up next. >> here the golden gate bridge. you can see 101. a little glow from the lights. but the lights all the way across the span. a good drive from the north bay. we'll show you how things are checking out over on the east bay. >>> if you're summer flight plans hit a big snag, you might have cash coming your way. nbc bay area res

good looks neat in the best and so when the police confinement vans and stuff meet in front of the viacom the not enough but obvious small provincial town near can you call on them hot off the party not persons with dispute quite a few for this didn't begin the next night. and consume a dem to get him off the biggest in the us. if. it's got a month that i've always wanted to play with the reason frankly. i didn't get to do that i got to sit with her outside the studio and talk to her and play one of my songs she was looking for a song played on my song so that was it but well i mean i was you know i got favorites you know i was lucky enough to sing on a couple of things or joe cocker when he was playing in he was one of my heroes so i was very lucky to do that and i'm. yeah i sang with the doobie brothers became friends of mine so when i actually liked it and i did some stuff with alton sang with tina turner. it's enough. that i missed out on the research or whatnot. i'm still complemented with some give isn't it obvious presley. i'm. elvis. and it was in that sense he did say that's a yo

viacom as a potential acquisition candidate and the longshot is netflix. right now when you look at that services business, the $50 billion per year, in our opinion, the evaluation, $450 billion in services, they cannot trip over their shoelaces on services. specifically on the content piece. now they need to put more fuel in the engine from content. a. ee them do that with m & emily: you believe content is not necessarily king. the fact that they don't have all the contact in the world, is that a game changer? >> distribution is king. the biggest news apple made is they are moving away from the device and hardware strategy and letting viewers access it on their televisions this year. emily: apple has to have shows that people want to watch. >> the majority of o.t.t. subscribers are watching more streaming content on their smart phone than they are on a dwirs device. not a single netflix, amazon or google show is in the top 10. the number one show is "friends" for which they paid $100 million this year. emily: friends reruns are never going to die. what do

we talked about cbs viacom as a potential acquisition candidate. obviously the longshot is netflix. now, when you look at that services business, the $50 billion per year, the valuation to $450 billion. they cannot trip over their shoelaces on services. right now, they need to put more fuel in the engine for content. we see them doing it with m&a. emily: something else that you point out is you believe content isn't necessarily king, so the fact that they don't have all the original content isn't necessarily a game changer. dallas: i agree with dan, that distribution here is king. the biggest news is they are moving away from the device and hardware strategy and allowing ownle to access on their platforms this year. have: but apple has to shows that people want to watch. one thing they have is a billion subscribers and day billion devices. people are watching more streaming content on their smartphones than devices. netflix doesn't have a single top 10 show. not a single netflix, amazon, or hulu show ranks as a top 10. the number one show on netflix is "friends." i think the key is

viacom, pluto, they have big hopes an ad supported, free, no streaming will work.nk it will for a while, but it depends on the content. even if it's free, you won't click on pluto if you don't like what they are showing. romaine: talking about the competition. in my household, a lot of the competition is coming from videogames. [laughter] reed hastings addressed that last quarter. porter: he said he doesn't worry about over-the-top streamers, but about games, about fouor tnite. he's right. the gaming business is bigger than the entire entertainment industry in revenue generation, smart, theyx were might pick up some games and add those in, keep the younger players, the millennials and kids, coming back to netflix. caroline: so five years from now, who are the survivors? we have youtube on one side, gaming on the other, you have potentially disney-plus and netflix. who else will be up there that we will all be paying for? porter: it is hard to say what at&t is going to do with warnermedia, but they have the content to be a winner if they operate it right and price i

we talked about cbs viacom as a potential acquisition candidate and obviously, the longshot is netflix. right now, when you look at that services business, the $50 billion per year, in our opinion, the $450 billion in services, they cannot trip over their shoelaces on services. specifically on the content piece. they need to put more fuel in the engine from content. we have seen them do that in m&a. emily: you believe content is not necessarily king. the fact that they don't have all the original content in the world is not necessarily a game changer? dan: that's right, i completely agree with dallas. distribution is king. the biggest news apple made is they are moving away from the device and hardware strategy and letting viewers access apple plus on their smart televisions this year. that's game changer for apple to really become the portal through which they are accessing their streaming content or building their individual skin bundles. emily: apple has to have shows that people want to watch. >> they have a billion subscribers and a billion device. the majority of o.t.t. subscribe

in a world where viacom is fighting for relevance how can you compete with these offerings from disney, from netflix, hulu? going back, joanna, to the programmers who are in the traditional bundle they can't come out with something this compelling. so where does that leave them? >> they get gobbled up by another service and split the revenue and putting some of the programming on hulu or wherever they're at and also then trying to all figure out, like, we need the tv guide of today, right where do we get all of this stuff and where do we pay? >> i think disney is all in. to be successful in this space, you have to be all in. it's really, like, over time, you know, the companies experimenting with different business models and maybe content and just hesitating, you know, i don't think that's the way this kind of shakes out. the winners are going to be those that commit fully, invest aggressively and basically, jumping in with two feet and that's what disney has made this call and the numbers they threw out here. >> does espn just not matter, tuna, anymore? that is still in decline yes,

it's going to be really hard for netflix, which borrows money to compete with apple or disney or cbs viacomd. >> can i ask you a personal question >> of course >> you are a media analyst, one of the best in all the land. why are you covering apple >> i'm covering apple because i actually think it's an ecosystem meade media company in the end of the day i think all these companies are getting into the overtime top streaming business >> you recently upgraded appear to a strong buy. >> i did >> with a $225 price target. how much of that is the media strategy your world >> i would say i think hardware analysts overvalue units, and i really think of an installed base with revenue per unique user apple is now said that they have 900 million unique users globally they have a monopoly on the 15% of the world's richest people. that's a cool target market. >> it is apple has moved away from every three years you give us a bunch of money to buy a phone to every month probably without even thinking you pay us $10 to $50 for subscriptions. >> right wait until they get a tv subscription because that's go

all these media companies got big and saw cbs and viacom wanting to get smaller, are we going to geteth warren we have to break up disney. espn used to be the only story and now we're talking about that. >> they want that to happen, though they don't want to talk about espn that's -- >> reinventing themselves -- >> although espn plus the early read is pretty good, right. >> it is pretty good, but i'm a big sports guy and not paying for that there's enough on tv am i going to have to pay another $5 a month. >> what do they do with hulu they own it but don't really own it >> losing money. >> how do they integrate the three things together. the bigger question how many of these services will people pay for every month? you have netflix, spotify and this -- >> this is my prediction they will start making it harder for you to leave right now it is easy to turn -- don't you think to turn these on and off. either that remains a part of the appeal -- >> like a gym membership. >> think about trying to cancel cable it's so difficult. >> it's an automatic monthly -- when was the last time you t

of our report about the notion that he's now, cbs is now immersed in takeover -- merger talks with viacomy else, and his short-term contract was related to that. but they pushed back on, this is people close to joe, that he is unhappy with this deal. they say not really, you know. he's okay with it, he's getting paid a lot of money. liz: okay is not happy. he wants the whole thing. >> i know. that's what i said. that's what i heard. they said you would be mischaracterizing it by saying he's unhappy. i like joe. i'm going to tell you this about joe. people forget this and i know a lot of people in corporate america that have dealt with joe over the years. he ran the business. les moonves was like the wizard of oz when he ran it. joe was the guy that really ran things, cut the deals, made the numbers work. he does deserve the ceo job. i don't think he's going to get it because bob bakish is very close with shari redstone. liz: if they merge. charlie, thank you. we'll be right back. ♪ can i get some help. watch his head. ♪ i'm so happy. ♪ whatever they went through, they went through togethe

like viacom. energy mixed. softness on brent could push down some of those big oil companies.are you seeing in individual movers this monday morning? matt: i'm seeing about 2:1 winners to losers. stocks areup, 185 down. in terms of who's winning or losing, take a look at the winners here. you've got some defensive stocks, british american tobacco is a winner this morning. you've got unilever as a winner. but also caring, some luxury stocks on the winning side. and then some banks. you was earnings season, bank earnings kicked off with j.p. morgan today. we get goldman sachs tomorrow. we get bank of america and, morgan stanley wednesday. lloyds is one of the gainers. ing is a gainer. unicredit, barclays adding to the stoxx 600. there's publicity's at the bottom. a lot of times after an acquisition, companies will fall. investors like this move to buy and focus on its online presence. look at the losers here. nestle one of the big losers, but that's not a defensive stock sold off out of market fears. that is ex dividend. that's the reason that stock is up there at the bottom. in

there's a slew of them out there, doesn't matter if it's discovery, amc, cbs, viacom, you know, maybe you want to get into a.i., buy an a.i. chip manufacturer, something that's growing explosively. i'm not going to tell them what to do. i'm going to say, look, that cash hoard just sitting there, that's where you get the next leg up >> dow is down 152 markets are lower across the board. that as the president is threatening tariffs on european goods like cheese and wine imf cuts the growth forecast to the lowest level since the financial crisis all right, so, what are we to make of this that seems to be why the market is upset so what we had, you know, here we go with tariffs again, maybe, doc. >> yeah, history doesn't like it and history will also show that you don't win wars when you're fighting on two fronts, scott. this is a very bad time for the president to be going after this when his own people are saying, we need to cut interest rates, we need to cut 50 basis points love larry kudlow, but when you're out there saying that and that's the thing that's holding us back, that's not

across the broadcast space you're starting to see a pickup, you're looking at cbs and viacom starting to perform as well so it is this continuing broadening out and you know, we started talking about tech, scott. but there are ways to bottom fish here and i did this going in a different sector, healthcare, cvs earlier this week i mean, with everything that's been going on, medicare for all, there's this supposition that the healthcare industry, insurance is going to go away. that's just not reasonable it's not fathomable. so, the beatdown in cvs is an opportunity to play that irrational expectation >> how about walgreens, boots. >> well, that's -- >> that's one i was buying so, here's the thing walgreens and cvs had been trading down from the beginning of the year and it really came from cvs' earnings report in mid-february so that was already baked in we knew that the end of last year was really bad. the read is that in medicare and other insurance selling season that's been going on near the end of last year, that prices picked up a little bit hopefully we're going to see that in th

t-mobile and viacom have announced a new content distribution agreement under the terms, t-mobile willuite of mobile services later this year it's important because there was a large negotiation going on with at&t. they recently got picked up, ended up staying on at&t however, they took a lower carriage fee from at&t, and that was a big question mark. >>> we are now seconds away, we should say, from the adp private payroll report and steve liesman is with us on set, and i believe, sir, in about three seconds, you will be allowed to tell us the number. >> thanks for covering me on that 129,000, adp reporting that private payrolls rose 129,000 in the month of march that is below both the estimate for adp itself and below the estimate for friday, and maybe enough below that you might get some tweaking of the estimates out there on the street. >> 117,000 was the estimate is this. >> that was the estimate for adp and 170,000 is the estimate for friday adp's been a little bit on the high side, and i will tell you, interestingly enough, they doubled down on their estimate for february remembe

cbs and viacom may explore a merger deal.g's key companies to report quarterly earnings, but the big news, it's pulling its 2019 earnings guidance phil lebeau joins us now with all the details. phil, of course, investors also absorbing i guess the company quantifying some of the impact of the 737. >> reporter: right right. you guys were talking earlier about why the stock is moving up in premarket one reason is because boeing has said, look, we think that we're going to take a $1 billion hit from the 737 max, all of the costs that go into the suspension of deliveries, fixing the plane, then increasing deliveries on the back side. but they spread those costs out because of how they do accounting when it comes to new aircraft deliveries over the life of the program. that's as long as they are delivering those airplanes, and that's going to extend out six, seven, eight, nine years so that $1 billion, when you account for it that way and extend it over that length of time, i think a lot of institutional investors are looking at i

most people are saying they basically want to merge the company with someone else, maybe viacom.e controls both companies, so it is an easy negotiation with herself. alix: much more to come. this is bloomberg. ♪ so with xfinity mobile i can customize each line for each family member? yup. and since it comes with your internet, you can switch wireless carriers, and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need and still save hundreds of dollars... do you guys sell other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. and now get $100 back when you buy a new lg. click, call, or visit a store today. ♪ the bidding war for anadarko. occidental raises its bed to try to snatch away from chevron. the stoxx sinks in premarket. hit fresh records as the bears try to poke holes in the rally. annualing suspends forecast, reflecting the magnitude of the 737 max 8 crisis. david: welcome to "bloomberg daybrea

other reasons viacom and amazon pushing more into advertising video on demand that clearly increases also pointed out the cfo sold 100,000 shares last week which was another factor that made them a little less excited about it but they haven't downgraded the target price much yes, down to hold but they've gone to 77 to 72 which is still above where they are now it wasn't a bearish downgrade is my point sort of tweaking a price target. >> well, the stock performance had been incredible. >> phenomenal. >> maybe a chance to take some chips off that table down 6%. up next a top strategist tells us why he's becoming more cautious on the market >> plus guggenheim's scott minerd is here to weigh in on the fed and if he thinks a rate cut should happen this year. we're back after this. what do advisors look for in an etf? don't just track an index, help me meet a client's need. is the fund built to sell or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and manage

>> cbs is probably going to try to do the viacom deal. right now it's about owning i.p.of ours. maria: david zaslav, ceo of discovery. we'll be right back with those robocalls. back in a minute. i switched to liberty mutual, because they let me customize my insurance. and as a fitness junkie, i customize everything, like my bike, and my calves. liberty mutual customizes your car insurance, so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ maria: welcome back. we've got this story on robocalls, taking a frightening step into the future. scammers are looking to trick you with familiar numbers. kurt, it's incredible, the robocalls come on your cell phone as well. >> and maria, good morning to you, and also are now using your own phone numbers. you may be answering a call from a number that sounds just like yours or looks just like yours and also new is the voice cloning technology coming is outstanding. it can grab clips of you that are publicly available and then recreate your voice, a clone of your voice, so the call you may get may go something l

opioid epidemic >>> and then in media, viacom upgraded from sector perform at rbc capital.its programming will pave the way for merger talks with cbs. >>> all right, we are awaiting the march jobs numbers, which will be released at 8:30 a.m. eastern time economists expecting 175,000 new nonfarm positions. that's the number for today that were added in the last month let's get right to our jobs panel for what we can expect joining us now, lanhee chen, a research fellow at hoover institution. kate moore is from blackrock, and our guest host for this hour, former council of economic advisers chairman and booth business school professor austan gooslbee if we bring out -- >> joe. >> -- a spread if we bring out a spread, a breakfast spread. >> you brought it! you brought a spread now, as you know, you owe me -- >> yeah, you didn't pay for it. >> -- a major dinner a major dinner the finest dinner in new york. and look what -- this is what -- this is what i'm given this is what they gave me. they gave me -- we got a half a bagel. joe, you chose not to eat this cheese and gave it to