yahoo!'s biggest problem right now. >> remember what happened last time when we had some kind of rumblings that perhaps yahoo! wasn't going to have the spinoff. everybody ran into alibaba as way a way to play alibaba. all these people playing yahoo! as a proxy for alibaba. i agree with tim. the chief accounting officer on a friday night before a long weekend stepping down, i have no idea what happened. but that is just a very strange thing -- >> you piece things together -- >> where there's smoke there's fire. >> and i disagree with tim. i think there is a lot of imputed value still for this tax-free spin. we're talking about a few billion dollars possibly but you're also talking about an asset that they've owned, they've sold back to the company. yahoo! has sold back to alibaba in the past. and they've watched the stock now decline 40% over the course of this year. at any point they could have been managing this risk. really we've known all along that yahoo!'s quarter has been trading negati

within yahoo!at is the strategy for growing the business now you are within this bigger company? david: we have a novel ad platform. it's all about wide-open creative expression. it's trying to get the most creative parts of the ad industry, to give them a space, a digital space where they can tell those same stories. where they can inspire us to become customers of these brands. get us to drive the beamer or drink the coke. yahoo! is building more and more content on top of tumblr. there are digital magazines you have probably heard of, yahoo! food, yahoo! tech and travel, those are built on tumblr. what we launched a couple of months ago was the ability to take that advertising we're developing for the tumblr network, where you come to get the reach demographics and engagement of the tumblr network. you take that same content and roll it out to the full reach of the yahoo! network. emily: i want to ask you about the "competition." i know there is not necessarily a direct comparison. what do you t

. ♪ emily: breaking news coming from yahoo!. yahoo! saying the irs did not grant requested ruling.e will get to our at large, cory johnson, but breaking news headlines coming out of yahoo!. we will give you the update as we get it. this is having to do with the irs situation and some of their tax obligations dealing with the alibaba spinoff. i will get back to that when we have cory back with us. however today in unicorn news, , $160 million has been raised from insight venture partners. the latest round of funding ballot at $1.2 billion. blabla is a ridesharing service between cities. outside europe, they operate in india and mexico. as far as the name, writers can bla if they would like to write in silence. light chat, or have a conversation. cory johnson is with us, our editor at large. he has been taking a look at yahoo! headlines. what does this mean when it comes to the irs and how much yahoo! can be taxed on this alibaba spin off? cory: yahoo! made a smart investment a long time ago. now they want to sell that without paying taxes. distributing it to the yahoo! shareholders

we lived this at yahoo.ncertainty is the thing that kills your company. >> it seems to me that the uncertainty still exists at yahoo. right? now you have the uncertainty over the tax spin-off, people have viewed that company and that stock, as a alibaba proxy. and now if you lose part of that. what do you have? >> i hate seeing it cast that way. i still have a lot of friends there. i have great love for yahoo. i think it's a terrific place. i think the board was bold when they brought marissa in. and i think now all it is is a tracking stock. which is kind of an insult to the people who work there. so put it in three categories. the first category is alibaba. we spent a lot of time on it when i was there. it's a complicated thing. very complicated thing. it has nothing to do with the operating business. and it's a distraction, it will sort itself out. do they spin it, do they not spin it? is it taxed, not taxed? there is a windfall. the question is how big. part two, it's operations, it's a tough place to ru

. ♪ emily: breaking news coming from yahoo!.e will get to our editor at large, cory johnson, but again, breaking news headlines coming out of yahoo! we will give you the update as we have it. this is having to do with the irs situation and some of their tax obligations dealing with the alibaba spin all. i will get back to that when we have corey back with us. news, $160icorn million has been raised from insight venture partners. the latest round of funding ballot at $1.2 billion. outside europe, they operate in india and mexico. you can choose if you want to write in silence, like chat, or have a conversation. is with us, our editor at large. he has been taking a look at the headlines. what does it mean when it comes , how much yahoo! can be taxed on this alibaba spin off? corey: don who made a very smart investment a long time ago -- yahoo! made a smart investment a long time ago. distributing it to the yahoo! shareholders has been their plan. the big thing with the irs , andg this been office ok they've been waiting for word f

off: yahoo!'s plan to spend alibaba stock has been dealt a setback after the company reveals it withdrew a setback from a ruling from the irs after it received for the agency would not approve the deal. scarlet: good morning. i'm scarlet fu. pimm: and i'm pimm fox. we are 90 minutes into the trading day. let's look at how stocks are moving. the continuation of yesterday, maybe a followthrough. the dow jones industrial average adds about 21 points. the nasdaq is basically unchanged. scarlet: we had a strong opening and it kind of faded. come inside the bloomberg terminal. you can see we are just off our session lows right now, still clinging onto gains. look at it over three days and you can see how we open higher and have been coming down to the unchanged line where we were yesterday. this is on the heels of a big gain yesterday and a decline on friday before the long weekend. pimm: taking a look at the chinese stock market, one the that she called the selloff and is calling for a rebound of about

yahoo! could make a multibillion dollar fill from the irs if it presses ahead with the alibaba spin off. >>> it is 5:30 on the east coast and 10:30 here in london. the s&p 500 is expected to open higher by 17 points or so. the dow jones expected to add 160 points after the 400 point dpan session. we saw a pretty awful week last week to continue today given that we have seen a very strong hand over from european markets. well it's the cyclicals on a day like this when risk appetite is rampant. the autos and industrial sector moving us high. the cac 40 up by 2.24%. how do you make money in markets like these? this is what investors have been telling us. >> i think if you're going to look in the china market, the on shore market even though we had quite a route in terms of pricing, you can still argue that it's overvalued. if there is value to be had it's more in the offshore market. say the h shares market where we're seeing lower pes. >> coming into the year we were overweight china and it he

glenn: yahoo! is a really interesting business.t is mostly a tracking dock for -- stock for alibaba these days. and because there is now some glimmer of hope that yahoo! shareholders will be able to get access to alibaba perhaps in a more tax favored way, you are seen positive reaction to that news, but i think in the long term, yahoo! is in a situation where lots of executives have been leaving and thinking about leaving, so i do not see a great way out for yahoo!, alibaba their stake in alibaba notwithstanding. emily: their former cmo left recently. glenn and brian, thank you. we will be watching to see how this meeting in seattle progresses. now, news just out that scott walker is quitting the presidential race according to "the new york times wrote that could potentially help a another , and carly fiorina has gone up to 15% of the vote, up record, but her business remains a serious sticking point. at the helm of hp, the company lost over half its value, and 30,000 people were laid off. disputes how bad her tenure was and points

yahoo! rose 2% on tuesday, but still, 39% down. a time when things seemed like they were on track, but more doubt coming forward here. angie: absolutely. how big will that tax bill potentially be? thank you for that. top corporate stories on the bloomberg terminal. plans to raise $2.5 billion by selling new shares. they plan to use the money to pay down debt and avoid a clinic rating cut. it plans to cut spending and reduced $30 billion in debt. encore touched the low. sony tries to stay ahead of the game, cutting costs to keep up sales momentum of the playstation in holiday shopping season. sunny raised its four year sales target as profit quadrupled in the first quarter. ck, people have asked about they dislike button, and people are working on it. users have called for other expressions. those were the top corporate headlines this morning. after putting the economy front and center of his successful leadership challenge, malcolm turnbull is facing some challenges in choosing his cabinet. let's get over to paul allen in sydney fo

yahoo!'s request for a favorable ruling on the spin off and by going forward the company is relying solely on an opinion from its tax advisor that the plan will measure up and should be tax free. they aim to complete the spin off in the fourth quarter. the company owns 384 million shares of alibaba worth under $23 billion as of monday's close. that's less than the market cap of 26 billion. yahoo! stock dropped more than 45% this year while alibaba shares are down nearly as must have. yahoo!'s decision carries some risk as the irs could challenge the spin off in an audit that would put shareholders to be hook for billions of dollars in taxes but any challenge would likely take years. they paid $1 billion for a 40% stake in alibaba in 2005 and investors closely followed this company's plan for the spin off viewing it as a way to unlock value. analysts believe yahoo! and it's stake in alibaba would be worth more separately as long as the spin off isn't subject to tax incurred from selling the sh

what does yahoo! do next?board is apparently going to continue its efforts to follow through with the spinoff, but as an investor, scott, do you go into this with the enthusiasm that you had before? i don't. i think she is the most overpaid ceo in history right now. tom: what if the rest of yahoo! decides there down from the june peak? scott: you are one thing, you're are the most trafficked website in the world, which you should be able to monetize. they have a ton of eyeballs that you should be able to turn into money. but you brought the right point. the company's core business is in decline. the ceo has made some of the worst acquisitions in the history of tech. senior-level hires that have cost an excess of $100 million in some instances. this -- this is going to fill up might inbox this morning, if she had not announced that she was pregnant with twins, she would not have been kept in. tom: you are willing to say this? scott: she got a reprieve from death row that she is pregnant with twins. i realize ho

plus will yahoo! engage in the ultimate game of chicken with the irs and push ahead with the alibaba spinoff? the answer could determine the fate of marissa mayer. and later we've got five ways to profit from apple's big day without having to buy a single share of apple's stock. we'll tell you about that on a very busy "fast money." back after this. equals great rates. it's a fact. kind of like shopping hungry equals overshopping. dad: yeah, 20 something years now. thinking about what you want to do with your money? daughter: looking at options. what do you guys pay in fees? dad: i don't know exactly. daughter: if you're not happy do they have to pay you back? dad: it doesn't really work that way. daughter: you sure? vo: are you asking enough questions about the way your wealth is managed? wealth management at charles schwab. >>> welcome back to "fast money." shares of palo alto networks, the cyber security company, up about 35ers in the after hours trade right now on about 373,000 shares worth of vol

what yahoo!s looking to do apparently is lame or heavily on its legal counsel to figure this out and they say there is still a way to do this and be tax-free. a lot of questions, but yahoo! definitely has more uncertainty but it does not necessarily mean the deal is dead. angie: what do investors think of all of this? brian: i think investors are probably a little tired. this is something that has been talked about for years, you could say. in january, they were told there will be something tax-free. they have had more bad news. again, today. the stock is down but it was not like it collapsed. it went down as much as 16% after hours trading it went near 4% down later on. i think they are digesting this and once again yahoo! is figuring out how to handle the massive stake in alibaba and we will see what happens. angie: that is the question we ask. thank you so much, bryan womack. you can get more on that story and all of the day's top stories on our digital destination, bloomberg business is bring

content at yahoo news and yahoo finance and oversaw the launch of a dozen new digital magazines. her move should bolster stx, the first major studio to be launched at this scale in hollywood in more than 20 years. it's backers include tpg's growth fund. stx's first theatrical release was last month's "the gift." the next film is "the secret in their eyes" opening in november. scott, back over to you. >>> guys, i remember, jon fortt said if this was to happen, it was going to be a big deal. remember ross levinson was on, the former yahoo interim ceo. he said yahoo needs to paut stake in the ground, say this is who we are. you can't be everything to everyone. yahoo has embraced let's bring everything in. which doesn't make it special. now this executive departure, what's the read here? >> she was with yahoo finance, one of the many areas of oversight. that's one of the things i discussed with ross. i think they did exactly wrong. you go there, there's no unique content any more. they're pulling it in from cnbc.com. pulling it in from business insider. there's no reason to go there.

yahoo's valuation has been defined by it.ow you think she can't wait to get this off the books. >> kind of like low interest rashgts or how a lot of people feel. you want to get alibaba out of the way if you are yahoo and see how the core business performs. it's gone from having little value at times to having a little bit more. at least in the eyes of investors. they have to get the core business growing. they've got to show that mobile growth and video growth that's going to outpace the decline in the tradional display advertising business, whichas been brutal. i think marissa myers got to make the case all over again that she's even doing a good job. i mean, the core business itself, the business overall has just been stagnant, and investors are frustrated, especially because alibaba isn't shining sunshine. >> we talked about that long leash that she had because of this stake, and watch it get shorter and shorter over time. >> finally, tesla getting ready to launch an all electric suv. the company set to start deliveries o

. >> finally, yon mentioned yahoo. rough week for yahoo.friday the top manager of itself media unit left to. that is the third senior exec to leave yahoo in had the past couple of months. yahoo's plan to spin off that $24 billion stake in alibaba in trouble after the irs said it had series concerns. both yahoo and alibaba -- i think it's managing to hang on to the three handle today, but this morning it did open. $3 for the -- >> it did, indeed. >> you've got different fish to try. when you take a look atta hue's position in this increasingly mobile environment what do they need to do? >> yahoo has done a good job producing traditional media app on a mobile device. traditional media apps wronk is where the wroout is going. i don't think it's where most people have them. it's an engagement platform, and i think the folks winning the media battle are the folks that are creating engagement on tom of the media platform. >> yahoo is doing a short news thing. they tried to remake flicker. they have tried to do this messaging app that they came ou

what is yahoo!'s next move?lus, apple drives ahead for his plan with an electric car and tesla investors are pumping the brakes. and practically what creed really operating as a public and if it -- as a public benefit corporation. first to our lead, china's president xi jinping is kicking off his first visit to the u.s. with a stopover in seattle this week. in a rare face to face, cap -- top chinese government leaders will meet with u.s. tech leaders like tim cook, satya nadella, and jeff bezos. tensions loom. president obama has hinted at new sanctions on cyberattacks, while u.s. officials are looking to strike a potentially groundbreaking cyber arms deal. joining me is cyber security expert with me from stanford, glenn solomon, an active investor in china. what will actually happen at this meeting? we know more about the names that will be there. what do you think will actually be accomplished at a meeting like this? >> i think it is an indication of the interest amongst the tech companies in silicon valley in

obviously, yahoo!s sitting on a huge stake and there are some questions about how it would be taxed. we have 30 seconds. yahoo! is a really interesting business. it is mostly a tracking dock for alibaba these days full -- attracting stock for alibaba these days. and now that many think they will be getting a better access to alibaba in a more positive way, that has reacted positively. with executive living and thinking about leaving, i don't see a way out that is great for yahoo!. their stake in alibaba notwithstanding. emily: we will be watching to see how this meeting in seattle progressive. news just out that scott walker is quitting the presidential race according to the "new york times." poll showsew cnn that carly fiorina has vaulted into second place with a 15% vote. but her business record remains a serious sticking point. with fiorina at the home of hp, the company lost over 30% of its value and 30,000 people were laid off. tom perkins, who was on the board of hp at that time, he took out a fu

finance, for yahoo sports, forria hoo entertainment. to think it's worthless is so lard for me to feel. >> i think you're probably right. there is a multiple -- >>> it ain't glencore. it doesn't need saving. they don't make copper, they're not an iron ore is company. >> those they're no valet. >> petrobras, a six pack of pbr is more than a petrobras, ppr. we haven't gotten to updates. abe is on the tape, and sara eisen in cincinnati with a ceo doubleheader. hey, sara. >> good more, i'm in cincinnati where kroger is holding its leadership meeting behind me here. they have phoned in thousands of associates we'll talk to rodney mcmillen how they plan to keep 47 quarters of growth, and keurig green mountain launching its new cold machine. they desperately need a hit. both of those interviews only on cnbc. we'll be right back. ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ which allergyeees. bees? eese. trees? eese. xerox helps hospitals use electronic health records so doctors provide m

look at shares at yahoo. 20.30 and 28.55.down in a big way this year essentially. >> nicole: those hit in all-time low. because she's got to get rid of this and, we'll see if they get it tax free or handle it. new york disaster, boeing made emergency landing at new york's jfk airport after experiencing hydraulic failure. it was headed to ireland and returned to the airport about 15 minutes after takeoff. had a small fire in gear come -- luckily no one was hurt. >> lauren: following wall street route on monday. stocks in japan down 4%. we'll run the action there and we will show you how we're shaping up the day after the major selloff right here in the u.s. can the dow stay above 16,000 today. remember the big night of the washington nationals, the punishment handed out. we will tell you what it is. first morning markets and breaking news. it's tuesday morning. ♪ ♪ all in on ♪ nts are here. it's not just big data, its bigger data. we're beta testing the new wearable interface... ♪ xerox believes finding the right solution shou

they'll almost call the change something related to what we're seeing with yahoo!. i think yahoo!able to get grandfathered in here. >> how about netflix? we talk about this stock almost every day because it's been down so much in the market volatil y volatility. >> fighting it today. >> fighting it hard. stock's been down almost every day. >> but they talked about some of the expansion they're going to do in some of the asian markets. that's obviously put a little bit of wind back in the sails, pushing the stock back up over $100 a share. yesterday we were talking -- josh was talking about the potential this thing could test down a few more levels. certainly we were sitting at a level where we were two months ago before this rapid run to the up side. so i think when you look at netflix right now, very difficult if you're trying to decide is this thing going to break back up towards the highs off pull back down. competition is still very aggressive only to get more aggressive but they've got that international expansion. >> this is one of those stocks that may be somewhat in the wa

she joined yahoo! in 2012 and became head of media, heading important properties like yahoo!ance and sports. this is not the only shakeup this year. yahoo! promoted lori mann to chief information officer. another story we're watching, chris sacca taking to twitter to tweet about twitter and its ceo search and voiced support for jack dorsey. it is time for the board to formalize the obvious, he tweeted, making jack the ceo and let everyone get back to focus ing on making twitter better than ever. the market knows that jack has such strong teams that he can run both companies. jack dorsey has full support of the key suppliers -- of the key players at twitter. earlier on studio 1.0, i asked sacca if he was becoming an activist investor, which he deflected, but he explained why he wants to fix twitter. >> i have been invested since anyone can be invested. there are more than a billion people who have tried it and not stuck around. twitter needs to be easier and more exciting and less intimidating for all those people. emily: turning now to china. xi jinping's first state visit to

yahoo! expecting twins. and she says she plans to pretty much keep on working when they're born. so is she setting a bad precedent for women at yahoo! who have children and might want to take some time off? we'll debate. when i started at the shelter, i noticed benny right away. i just had to adopt him. he's older so he needs my help all day. when my back pain flared up we both felt it i took tylenol at first but i had to take 6 pills to get through the day. then my friend said "try aleve". just two pills, all day. and now, i'm back for my best bud! aleve. all day strong and try aleve pm, now with an easy open cap. that's amazing. it's amazing. this is amazing. that's amazing! real people are discovering surprising things at chevy. we're sold. it's so pretty. they're good-looking cars. it feels great. perfect. this is not what i would expect from a chevy at all. get more than you expect, for less than you imagined at the chevy 72 hour sale. now, get zero percent financing for seventy-two mon

how is yahoo is doing? >> i think yahoo is doing incredible. the content on our site in a various amount of ways, definitely mobile is huge, we're talking about millennials on the go and they're looking at it, they're watching our videos on their phone. they're commenting on the stories we write on their phone. they're taking our polls on the phone. tablets? laptop is still a huge part of our audience interaction. how they're consuming it is that they are becoming participatory. they're not just reading it and walking away. they're having a voice in it and that's in this age of social media they want to say something back. when they read something, we he can have tens of thousands of comments under it. or they'll engage in a poll right away. i think those things allow them to participate in our story. that's the biggest thing we found out. people, especially millennials really want to be in the story and not just from the sidelines. >> yup. that's definitely true. joe, our thanks to you, on a week where we know you're incredibly busy, we'll see

yahoo offers 16 weeks. it is clear that she will not take advantage of her own company policy, others hope her employ ease are not discouraged. >> as long as it is a clear policy, i don't think it should bother anyone. >> owes question why it is an issue at you will as it would not be talked about if she were a man. >> it would be taking as congratulations and do what your choice is for your family and the business and the balance you choose. >> not one right answer. if she wants to take a while or get back to work that is what show should do. she is due in december. >> the a's close out the series against the angels but the highlights are gapped to start's the first pitch. dan is going to sing the "national anthem," singing it prior to the san jose state home opener at spartan stadium and two years ago, i remember, he sang before a warriors game at oracle arena and rock out. people may not know but he is the lead singer in a band "public." ♪ what so proudly ♪ we hailed >> go, dan. >> the going of the warri

but according to our washington inside yahoo!t john ward says his residence with voters stretches far beyond. >> the majority of americans are not on t i think it is a minority of them. four million is a big number. but his numbers in the election are going to be a lot bigger than that. >> let me tell you something. in another life i was an anchor at fox news. this was unlike anything i ever experienced before covering political stories. at time it felt like the super bowl than the debate. especially in that spin room. >> it looked like the super bow i thought somebody was going to get tackled. >> somebody almost did. >> glad you're back and safe. if trump does get the gop nomination, i know who i want as his runnin how about this, trump-west ticket. we have a lot more on that. where is your button, buddy? >> i'm still working on it. it is going to be a huge button. i'm down all the way in social media. it is going bananas over the brand new endorsement video. now kanye is concentrating on his other passion, that is fashion. see,

then yahoo!for the irs to rule i guess pre-emptively on giving it some tax approval status for its alibaba spinoff. not apparently given that ruling granted. let's up on "closing bell." thank you, sara and mike. we'll hand it over to you, at "fast money" to sort through all this right now. >> "fast money" starts right now. live from the nasdaq marketsite overlooking new york city's times square -- i'm melissa lee. our traders on the desk are tim seymour, brian kelly, karen finerman, and dan nathan. coming up apple shares are doing something they haven't done before heading into an apple event and it's got some am fans very nervous. plus one big bank taking it on the chin but warren buffett sees value in it. normally stocks would be our lead. we did have ni

yahoo! in japan says the computer glitch caused more than 2 1/2 -- i'm going to get thousands of e-mails to disappear. it blocked users from accessing their accounts. e-mail sent to about 970 thoushs e-mail addresses during that time were lost. we're talk a lot of e-mails. yahoo! japan has created a special link for users to determine if their were affected. >>> transalert now for thousands who use the bus terminal. starting tomorrow, many gates of the terminal will be reassigned. the hope is to reduce delays and overcrowding with many gates being consolidated to the third floor. you can learn if your gate was reassigned by checking out the terminal. >>> sibling rivalry to tell you about. an explosive matchup between serena and venus takes place tomorrow at the u.s. open. serena easily beat madison keys yeofsterday in just over an hour. completing a straight set victory. venus williams also won her match. and now the two sisters will go head to head in the quarterfinals. that means venus cou

. >> yahoo is trading below $30 a share and so is it worth a trade right now. that is the question tonight. >> especially with the alibaba tax and business stuff. right over to you. >> "fast money" starts right now. live from the nasdaq markets and live from time square, i'm melissa lee. tonight volkswagen may be dominating the headlines but there is another german giant showing serious signs of strain and could have big implications for your portfolio. and casino stocks tumble. but it miets be time to double down on one and we'll tell you who later. >>> but first the stock that could ruin the hottest trades of the year. nike set to report in less than 24 hours. a big component of the crowded consumer discretionary sector and that has been the best performing groups of stocks. so if nike breaks down tomorrow, could that trade be ruined. and pete, i go to you first. because this reminds me of the bar we had for disney and everybody thought it was impossible that they missed and what happened, selloff in the media space. >> right, to your space. is china that hug

yahoo! will attempt some kind of spinoff structure. the stock has mostly recovered big losses in late trading but it is still down. most analysts commentary i have -- notis morning overwhelmingly negative, i should say. it is not clear what will happen now. yahoo! is in a similar position because it does not have the legal cover it was looking for from the irs and now it has to counsel lawyers when deciding whether to go forward with the spinoff, another version of the spinoff, or perhaps not at all, which would be a huge blow to many investors pressing her sue myrick to do something. pointing out that excitement over the possibility of the spinoff has been fading. alibaba shares hit their peak last november, this is the tale. alibaba versus yahoo!. yahoo! has outperformed alibaba. them have done poorly. it is not so fantastic. that is the whole problem. buying yahoo! for alibaba. want to get rid of alibaba, .owever they do it is because itry conveniently masks all types of problems. people

i think women get an incredible package at yahoo. that's the limit of her responsibility to her employees, she offers both maternity and paternity leave. to suggest she has to make a decision to satisfy others this her company is i think a little bit inprop. >> you don't think young women in yahoo particularly young women who might get pregnant, think, she took two weeks, i don't want to take all this time off. >> i see the point but i think women of yahoo probably understands that the ceo of yahoo isn't going to come back to work in the typical way that others have to. i think with the first child that marissa mayo had, she had help. most people understand, this isn't the typical coming back to work scenario. >> clinton do you agree? >> it seems to bother me every single move this woman makes is becoming a natural story. if she was a man what happens with with her family would not be an issue to discuss at all. that in itself is a worry as well, her ten-year-old son, you're forced to be under a microscope. that says as much about th

if you buy yahoo, you get to capture the momentum of the spinoff. yahoo would have done better taking the tax hit and selling the stake outright. do you have to stay away from yahoo because that is so unclear and what was the alibaba affect that was a positive affect is now really casting over that company. >> i own yahoo, legacy position from the 1990s. i won't say too much. the key for yahoo ultimately as a company is reaccelerating its core business, and everything else as you suggest is just sort of a derivative of alibaba. >> live shot of the speaker's balcony at the u.s. capitol. what a shot. 30,000 people watching. just take a quick minute to look at this. >> as speaker boehner said, former altar boy himself, this is big stuff. he teared up behind the electric turn. >> if you thought the president's backyard was crowded yesterday, that is a crowd of a different magnitude. 30,000 people, and an incredible image right there. >> we are getting ripple effects from volkswagen's scandal continuing today. phil lebeau in chicago has more on that. >>

yahoo ceo announcing on tumblr that she's pregnant with twins. also saying that like her previous pregnancy, she'll take quote, limited time away from work. >> i think it's great that she has the ability to make the choices right for her family. >> reporter: it's an issue coming up lot lately in silicon family. tech companies giving new parents more time off. these women protesting netflix policy of giving unlimited time off to full-time but not hourly employees say she doesn't have to take a long leave. >> the best thing any ceo can do is expand paid leave to all their employees. >> companies in the united states that are beginning to dip their toe in paid leave is doing a good thing. there's a long way to go before we have paid parental policy in america. >> reporter: it's a debate that won't go away any time soon. who gets time off and how much time off is enough. >> it's one of challenges of unlimited paid parental leave is anybody going to use it? >> reporter: now about two years ago yahoo upped the paid parental leave to eight weeks. adobe

yahoo! is weighing it's options which include going ahead with the spin off either way. yahoo!res fell 3% in after hours while alibaba dropped 4% during the regular session as it cut it's sales estimates largely due to softness in china. if we look at how the stock is fairing in germany yahoo! off even more and alibaba off .3%. >> instagram is opening up it's platform to most advertisers worldwide as it tries to compete with snapchat. they'll debut in 20 more. instagram has 300 million monthly active users. it's parent facebook has consumer information that can more accurately target an audience. >> netflix is stepping up further into asia launching in south korea, hong kong, singapore and taiwan later next yearful the streaming service announced plans to launch in japan. it already operates in australia and new zealand. they're borrowing $1 million to help pay for the global expansion that it expects to complete by the end of next year. this comes as netflix fell for a 7th straight day tuesday after they argued that they're not generating positive cash flow. >> the number of d

she was pregnant when she was hired at yahoo!'s chief three years ago. the news comes as yahoo!s splani in planning to spin off its holding in alibaba. >>> samsung says it will release a new smartphone this thursday. the new watch is called the gear s-2 and it's equipped with 3g connectivity and samsung says the battery life is 2 to 3 daze. >>> what is old is new. a fully automated restaurant is now open in san francisco. customers order in store ipads, on smartphones and when their meals are ready, they pop up in small glass compartments and the founders call it fast food reinvented. it looked like an old-fashioned auto mat with a few new twists. >> it does kind of look like that. it's neat but i think i would avoid the tuna fish. i don't like my tuna fish coming out of little boxes like that. >>> when we return, serena's match to history. >>> a courtroom sketch artist gets a re-do at yesterday's tom brady's deflategate hearing. when you take a sip of our ocean spray cranberry juice, it's a little like... [ dog barks ] and it's also like... [ laughs ] [ engine revs ] but don't

yahoo and united airlines in the news.en-year at 2.23 despite the bank warning the fed not to hike. oil is just a tad lower. the road map has the rally continuing this morning. >> plus the september date has arrived for apple. a new iphone, ipad, apple tv, can it help the stock going into the holiday quarter? >> next big short. why one natural gas company is, quote, a disaster. >> first up, futures are arise again after the dow closed up 390. the nikkei surged up 7.7%. and short-seller, continuing to sell the alarm on his bet against china on squawk. >> the chinese economy, since i was on squawk in february of 2010, was growing at 15%, nominal. it's now growing at 5% nominal. 7% real, 2 % deflation. it has been going down in terms of the economy by 2% a year. that's going to continue. the model is broken. >> chanos reiterating his message, that is the economy is still 50%. investment driven, and as the economy slows down, he sees a credit event where they lose control of the currency, lose control of their financing, and t

we are talking about yahoo! this spinng, it's efforts to off its stake in alibaba without paying a hefty tax bill. the irs outlined new concerns over transactions that mostly are intended to cut tax obligations. there,g up to scrutiny the agency says it has misgivings about these types of deals in which the business being spun off contains mainly investment assets, or when the active business is small. yahoo! spinning off its 15% stake in alibaba could potentially save it $9 billion. early the -- earlier this month, the irs declined to grant yahoo! in advance ruling. this is a critical step for marissa mayer, who has come under pressure for investors to return cash to shareholders, find ways to cut taxes, and avoid major acquisitions. yahoo! shares down 39% this year. back to top stories, sony ratcheting up the competition with its gain can't -- game console rivals. let's find out more. grace, what is about -- behind the price cut? behind the price cut is a compared to japan other parts of the world. this is for

yahoo's chief accounting officer emily: we have breaking news. yahoo's chief accounting officer is leaving the company next week. he'll be replaced by ken goldman currently c.f.o. and ken will serve as the company's principal accounting officer. we'll have more on this story as it develops. a lot of executives shake-ups at yahoo since marisa meyer took over. a new way to see the world, google has revamped its street view app giving users a chance to upload your own material and help google fill in the blanks stitching together a digital picture of the world. google wants to expand beyond roads adding wilderness areas, building interiors to the platform. we sat down with the google director to ask where virtual reality fits into the bigger picture of google's products and services. >> to make imagery front and center. make it delightful to browse from one place and discover new things. we hope that by making this delightful we will encourage more contribution and sharing of imagery. if you look at just roads, we have only a fraction of that but we

yahoo! aims to complete this spin off sometime in the fourth quarter and we did see yahoo!res rising some 4% in after hours but it makes you think about yahoo! after spinning off it's baba stake. they own it by 15% in alibaba. it's worth about $22 billion which is just slightly less than yahoo!'s market gap but some people said the future after baba does that make it a shell company from now on? >> it might. the share price has been driven up because of the enthusiasm for the alibaba stake and she is returning billions of dollars to shareholders through that spin off and investors are getting very impatient with her because of a lack of progress of turning around the struggling online ad business. she's been at the helm of the company for three years and people want to see results. so if we're now slapped with an period even bigger tax bill for that spin off, will that be another big problem, wouldn't it? >> it makes you wonder why they're going ahead despite the fact that they haven't gotten the okay now from the irs. but shares down 45% this year. alibaba isn't doing any

trying to sure up it's balance sheet and yahoo! will be moving forward with the planned spin off of its stake in alibaba. this is coming even though the irs has declined to say whether the transaction would be tax free so it puts marissa mayer on the hook because this deal now has to go through because she put it out there and if for example we find out later that the irs would want to call the money back it's going to create all sorts of problems. >> let's talk about other corporate news as well this morning. microsoft is changing the way it reports financial results. it will be breaking out revenue and operating income based on

julie walked us through how yahoo! has been underperforming. is yahoo!nything other than a holding company for alibaba stock? cory: the value of yahoos business is nil in the public market if you look at how much of alibaba they hold. how much are they going to pay in taxes? how much of the holding is going to go towards satisfying their gain in what was a fantastic investment gain for yahoo!. they are trying to avoid taxes. the question of how much will include shareholders is open. we brought up the revenue growth chart which i want to look at again. this also tells you there is urgency here. since the ipo a year ago is slowing in spite of doing all the acquisitions. the chinese economy is slowing quite a bit. we can look at their efforts to grow internationally, still struggling for alibaba. this is a company that has its own struggle. then you look at the shareholders, i mentioned those who cannot or will not. if you look at silver lake, citic, firms that went into the ipo with gigantic holdings that are available to sell. all of those sold in the ip

spinoff of alibaba the company's board, yahoo!'s company board, oughtrizing the company to continue to pursue the plan for the ad krr o spino spinoff. that's the late, back to you. >> seema mody. thanks for that. kind of felt like we -- that they had said that, yeah. >> well, yeah, and we also had that big lockup and talking about really the only people that were ready to be sellers in this that were probably 5%, rest were all insiders. wroo is one of those insiders and certainly this is the case what's good for yahoo! is bad for baba where they have been trading in lock step. reiterate, some of the parts, even alibaba's price today, says yahoo! has 40% upside. >> shares of the mining giant glencore tumbling 30% and hitting a record low on heightened fears of falling commodity prices and glencore shares are down a staggering 75% and karen has been taking a look at something more troubling in the debt. >> as we talked about, look at debt and that tells us something. you see that the glencore debt is absolutely getting crushed. credi