Open. Its all eyes on the screen tonight as the first gop debate kicks off in cleveland while john stewart presents his final daily show. Coming up on the show facebook serves another blow to twitter as it launches a Video Streaming Service but dont expect to see the Worldwide Exchange team on there just yet. Well explain why later. Plus investors cut the cable as disney disappoints. We tune in on the details. Were live in beijing with the latest after investigators confirm a winged washed up on shore is that of missing jet mh370. Disappointing jobs data. The number of new jobs created slowed to 185,000 but at the same time Manufacturing Index jumping to its highest level in ten years. Goldman sachs as well as jp morgan upping their u. S. Gdp target for the year. A slew of earnings coming out today and of course that could change the story on wall street. If you take a look at european markets a host of Companies Reporting earnings in germany and that of course right now at this point moving the xetra dax higher. The cac 40 with a loss of around 8 points and were looking at the athens ase. Now open for the 4th straight day and it is higher after moving lower over the past couple of days after being shut for over five weeks. Keeping investors excited. Were looking at the ftse 100 down about 26 points. Will the bank of england give my clarity as to whether that rate hike will come this year. Indeed seema. A muted performance from european equities today although yesterday was a pretty Strong Performance performance, a bit of a risk on sentiment. On monday we touch 0. 60 on the german ten year. Quite a marked move over the last couple of days. A similar sort of move in the u. S. We were at. 15 on monday were now at 2. 26. We had seen yields kick up a little bit on safe havens during the course of this week. Its been relatively muted almost in the main Currency Pairs this week. The euro just dipping below 109 today but as you can see only 20 basis points move and were looking at the yen at 124. 8. We will be looking at sterling today. Its been there for the last month or so but over the last three months it has been pretty strong. Both against the u. S. Dollar but more importantly on a trade weighted basis because of the weakness in the euro. 44. 9 and below 50 on brent. 49. 6 at the moment. Bill ackman is disclosing its 7. 5 stake in mondelez. Theyre worth at 5. 5 billion as of wednesdays close. The wall street journal which first reported the story says ackman wants the snack maker to grow revenues cut costs or sell itself to a rival. Mondelez welcomes ackman as an investor investor. Shares up 6. 7 . Cant seem to shake them off. Hes already on the board and a very active investor of the last three years and he actually lead to that split during craft and mondelez. Its very interesting. You have two investors invested in the story. He was pushing mondelez to link up with pepsi in 2013 and that didnt go through. It will be interesting to see how he can change the conversation and the future of mondelez. The issue of course with mondelez is sales of 34 billion. Market cap of 5 million. Its already a monster itself. Pepsico could buy it. Those two are the big potential buyers out there. Im sure they would be interesting. The under lying problem for revenues and this is something that both activist investors have been referring to is they have seen slowing sales. Much of their exposure is emerging markets. It gets exciting thinking that a deal like that can happen. Craft had already bought from mondelez its snack food business so i dont think it really adds up but its interesting. Well see what he does once he gets his teeth into his 7. 5 stake. It could be a tasty deal. Very good. Lets take a look at the other top stories this hour. Tesla Second Quarter loss nearly tripled as heavy spending on future projects such as its battery factory offset higher sales. The operating loss beat forecasts and revenue rose 24 but the electric car maker is cutting its sales target and says pricing is under pressure pressure due to the strong dollar. Tesla may raise more cash to expand production. Shares falling about 6 in after hours trade and in germany down by 5. 5 . Fit bit Second Quarter results beat forecast but margins fell due to higher spending on new products. The Company Launched three new wearable devices during the quarter. The strong dollar accounted for a third of the margin decline. It also doesnt expect margins to improve for the rest of this year. That all together lead to quite a sharp sell off on the shares after hours down 13 as you can see in germany its down 9 today but do bear in mind its up 160 since its june ipo. Now the fitbit ceo will be on squawk on the street today at 10 00 a. M. Eastern time. Green mountain plans to cut 5 of its work force after Second Quarter earnings that braet beat forecasts. It also continues to struggle with declining sales of its coffee brewers and single serve pots. Shares plunging 29 in after hours and currently in germany off 29. All right. 21st century fox reporting results that beat forecast as modest growth at its Cable Networks offset a revenue decline at its movie studio and fox broadcast network. On the call new Ceo James Murdoch says the Company Expects an increase in cable subscribers this fiscal year. However, shares still fell by 3 in after hours after losing 7 in the regular session as media stock on the whole got crushed in the wake of does nissisneys disappointing earnings. The eu cleared a big travel retailer based in switzerland to buy a majority stake in World Duty Free now that this deal seems to be going through according to the regulators they will be creating the worlds biggest travel retailer. Still to come on Worldwide Exchange, new Services Data with a september hike on the fed. But could another banker fit janet yellen to the post . We discuss, next. Try the superior hold. Of fixodent plus adhesives. They help your denture hold strong more like natural teeth. And you can eat even tough food. Fixodent. Strong more like natural teeth. Fixodent and forget it. No students ever been the king of the campus on day one. But youre armed with a roomy new jansport backpack, a powerful new dell 2in1 laptop and durable new stellar notebooks, so youre walking the halls with varsity level swagger. Thats what we call that new gear feeling. You left this on the bus. Get it at the place with the experts to get you the right gear. Office depot officemax. Gear up for school. Gear up for great. Welcome back. These are the headlines. Bill ackman raises his stake to 5. 5 billion. The battery runs out of tesla shares as the Company Slashes its earnings outlook and debating donald. The first of the gop president ial debates kicks off in cleveland ohio. The u. S. A. And the united kingdom, who is better . Who will be first to raise Interest Rates . Janet yellen or mark carney . While the market is pricing in a hike before the bank of england makes its move david miles suggested the u. K. Could pull the trigger first it follows a number of not so subtle hints that a rate hike is coming. Trading just shy of a four week high against the u. S. Dollars. The strong pound causing havoc for british exporters and in the u. S. Janet yellen looks on course to hike rates in september if theres no ugly surprises in the data. In fact wednesdays nonmanufacturing pmi reached the highest level in a decade slashing expectations. It prompted them to increase the payrolls estimate to 225,000 while jp morgan refirms to 240,000. I dont think its about who goes first. Symbolically thats a little important but isnt it more important to see who raises by how much over the next couple of years . I dont think the market pays attention to that. What we dont want to see is another greenspan, 14 hikes in a row in the course of two years. Thats more important over the medium term of course but i do think it would be an incredibly surprise if the bank of england went before the fed. We know the fed is the biggest and most important central bank in the world. The dollar is the reserve currency and mark carney has that extra freedom to wait until somebody else goes first and see how they react and as we were discussing earlier, the strength of sterling against the dollar and more importantly on a trade related basis he has extra breathing room. It makes up a third of britains economy. Definitely an impact there. Theres more pressure on them to actually raise rates but havent you noticed in the last six to 8 weeks the bank of england has been much more vocal about raising rates but also david miles saying himself it could happen in 2015. Both Central Banks have the weak Commodity Prices to contend with. Its interesting to see how he views the drop in Commodity Prices because he said its really just temporary. Now we see its not really that temporary. This has been a place for the last nine months to 12 months and what an impact it might have on inflation. Id like to hear similar comments from janet yellen. All eyes today on mark carney. Facebook is taking on telescopetele periscope with its own account. Vips can post a live broadcast with real time comments. Unlike periscope and merecat the videos can be watched multiple times. Facebook wont say when Common People can join the action. I hope thats our producers take on it and not facebooks. Its only vips and could keep it more interesting but the fact that it stays up there as well is a key differential rather than evaporating over 24 hours. That will be the differentiating factor from facebook when you take a look at periscope. Now facebook adding their component. I feel bad for twitter here. When you take a look at twitter that was the only thing they had that facebook didnt but now their social media nemesis joining the ranks. And these guys have big facebook followings already and periscope offered something and now its much easier where they already have this massive following. Another thorn in twitters side. You will see them evolve their strategy. They have a verified account but Going Forward im sure theyll open it up to the masses. Im just looking at comments from the u. S. Secretary of state who was currently in Southeast Asia and he has said that we will not accept restrictions on freedom of navigation and overflight in the South China Sea. He expressed serious concern about the situation in the South China Sea at the asia meeting and says policy was needed. Back to tech, just a month of launching apple music has logged in 11 million trial members. E telling usa today that 2 million of those opted to sign up for family plan which cost 14. 99 a month. Assuming all trial members become paying customers come october apple would have half as many paid members as spotify. Q also says july was a banner month for the app store that saw 1. 7 billion in transactions with a large number in china. Shares of apple in correction territory but in yesterdays trade it did move higher. Apple up by. 5 . Jury duty is seen as a nuisance as they have to miss work but even former u. S. President s wont miss their duty. George w. Bush surprised the crowd at a dallas courthouse wednesday when he showed up for jury duty. He mingled with jurors and left after a few hours once he was not picked to serve. One juror says bush was very personable and friendly. Shouldnt be a surprise. He has a lot of time on his hands. You dont think hes out there supporting his brother. He will at some point. His brother probably doesnt want him out there supporting him. Trying to distance himself a little bit. Maybe the former president will be watching the debate a little bit. Or he might be watching him. Lets go back to the show and well give you a run down of what to watch this trading day in the u. S. Weekly jobless gains out at 8 30 a. M. Eastern time. The number of people filing for Unemployment Benefits expected to increase from the previous week. The fed needs to see a sustained recovery in the labor market before it decides to raise rates. As for earnings michael kors and viacom report before the opening bell and monster beverage nuance communication and zinga. Donald trump will be at center stage and potentially take fire as he and his republican president ial rivals take part in the first debate tonight. Trump, Jeb Bush Scott walker and six others will square off at 9 00 p. M. Eastern. The primetime event offers americans their first look at the major candidates with six months to go before iowa holds the first nominating contest. Seven other candidates that didnt make the cut will hold a separate debate at 5 00 p. M. Eastern. All of the u. S. President ial candidates may be breathing a sigh of relief as john stewart prepares to host the daily show for the final time. In the 16 year with stewart at the helm the daily show is known for its political satire. It won the emmy for outstanding variety, musical or Comedy Series ten straight times from 2003 to 2012. Which are you most excited about watching tonight . John stewarts last daily show or the gop debate . People have been tweeting in throughout the show. Jason says hell be watching both but says wow jon stewart will wish he could cover the debate outcome himself. Get in touch with us worldwide cnbc. Com or twitter cnbcwex. I think because of the donald the gop debate peaks for me. I think because of donald trump and a lot of his controversial comments you can be sure that a lot of people will be tuning in to see what he has to say. I hope that on the show they pull together an epic montage of his epic bits. Those get me going. But on top of that impressive guests live today. Celebrities. But we dont know who that is . We dont know yet but i can guarentee it will be great. Those are big shoes to fill for the next tough. Very tough. Absolutely. Coming up on Worldwide Exchange malaysia confirms debris found in the indian ocean is that of mh370. But whats next for the investigation . Were live in beijing finding out. Welcome back. Debris from a jet found last week on reunion island is that from mh370. Were getting flashes that the Malaysian Team on reunion island collected more aircraft debris. Theyre sending them to france for analysis. They dont specify what part or number of parts have been recovered. So you can see the story continues to develop. Lets get more from eunice live in beijing. Thank you so much seema. The story continues to develop. The family members here have been traveling to beijing for a meeting with Malaysian Airline officials. That is going to happen on friday morning. The relatives have been demanding that a senior malaysian government officials take place, are present at this meeting in order for them to continue to answer some of their many questions. Many of these families were devastated once they got the confirmation from the Prime Minister that the wing flap was part of mh370. In the hours afterwards though theres been growing doubts and questions about why the malaysian Prime Minister was so definitive in his statement when the french investigators as well as boeing were both much more circumspect so thats fuelling questions around families and they just issued a statement a couple of hours ago saying theyre hoping to hear the french authorities as well as boeing say without a doubt this part was actually linked to mh370. The Chinese Government also issued a Statement Today saying theyre hoping the malaysian side will continue to search for answers and follow through with this investigation into the incident and also to support many of the families. Back to you. For now, thank you so much. Now police have identified the suspect in wednesdays attack inside a tennessee movie theater. The assailant has been named as 29yearold Vincent David montano who has a history of mental illness. He was shot and killed by officers before anyone else was seriously injured and the investigation into the incident is on going. And switching gears to markets, taking a look at u. S. Futures right now, they are slightly higher on the day. Yesterday the that nonism Manufacturing Index hitting a ten year high catching many analysts by surprise but that number some what disappointing and that of course denting sentiment. Right now s p 500 up fractionally on the day. The dow indicating a lower open by three points. Coming up on Worldwide Exchange are wearables back in fashion for investors . We give fitbit a Health Inspection after its earnings debut. Thanks for calling angies list. How may i help you . I heard i could call angies list if i needed work done around my house at a fair price. You heard right, just tell us what you need done and well find a top rated provider to take care of it. So i could get a faulty light switch fixed . Yup or have a guy refinish my floors . Absolutely or send someone out to groom my pookie . Pookies what you call your . My dog. Yes, we can do that. Real help from real people. Come see what the new angies list can do for you. 10 30 a. M. Here in london and 5 30 in new york city. Here are your headlines from around the world. Lets talk mondelez. Bill ackman takes a bigger bite out of the company raising his stake to 5. 5 billion. Reports suggest the activist investor could be considering a takeover of the snack maker or a merger. Tesla shares in reverse after it slashes its guidance. Delivering a third consecutive quarterly loss as it burns cash on new models and factories. Wti still on the slide and brent falling below 50. Oil and gas stocks head south in europe and the dow heading for another day of decline. Its all eyes on the screen tonight as the first gop debate kicks off in cleveland while jon stewart presents his final daily show. If youre joous tuning in thank you for joining us on Worldwide Exchange. Its the countdown to the u. S. Jobs report coming out tomorrow. Ahead of that fau tours lower on the day. The dow is down about 11 points. Nasdaq with a loss of around 2 points. This as apple shares staged a bit of a come back in yesterdays trade though still in correction territory. We take a look at european markets of course with greece retreating from the headlines thats been driving the price action and thats been sending stocks lower on the xetra dax down by 12 points. 6,721. Of course super thursday waiting to hear from the bank of england and any inclination on whether rates will rise in 2015. A quick look at the cac 40 down by around 9 points but i want to point out that the French Market up 20 year to date. The italian market up about 24 so far in 2015 and a quick look at the athens ase. Continuing to capture the attention of investors. Up by 3. 4 after suffering three days of losses. Also want to point out whats happening in the commodity markets. Volatility continues and the weak Economic Data pushing prices lower in yesterdays trade. Continuing in todays trade with a wti crude at 4491 down by around 1. 5 . Brent crude the international gauge of course something watched by those in the middle east closely. 4963 right below 50 trading flat on the day. A quick look at spot gold. We just spoke to someone that said we could see gold headed lower to around 1,000. We are trading at 1085. Basically flat. And we have worrying news out of japan. According to reuters an earthquake has shaken buildings in tokyo. Now the state broadcaster nhk has said that an east japan earthquake has a preliminary magnitude of 5. 2 on the rector scale but more importantly there is no tsunami warning. As soon as we get more information on the story well bring that to you. Fitbits Second Quarter results beat forecast but margins missed due to higher spending on the products. The Company Launched three new wearable devices. The dollar accounted for third of the margin decline and doesnt expect margins to improve for the rest of the year. It fell 13 in after hours trade and is down today in germany. But its up since its ipo. Lets talk more about it. Good morning to you. Thank you for joining us. I suppose the Bigger Picture for these wearable fitness devices over the last year we have seen in developed markets smartphones reach saturation levels. How far are fitness devices from going to those levels . Very very far. So the rate is probably around 5 or 4 at best in many countries in the markets. So we have a long way to go. Now of course smart watches are a big threat to fitness devices. Are they poorer at tracking fitness in people or is it that the people that only want fitness in that device that theyre much cheaper. One key thing is conception. You need them to stay on for about a week. It usually stays on one day or two days. You have notifications, apps you can install of them. Who do you think is winning in the wearables space and at what point will apple be seen as a major competitor . Thats a very good question. The moment fit bit is definitely winning in the wearables space and they have been here for a long time. Apple is a little bit different. They cannot create a new wearable in the smart watch market. So we think just over 60 million for the year. And smart watch is about one third of that and two third of that would be fitness trackers. But its an incredibly crowded market isnt it . Yeah. What are you seeing in terms of pricing pressure. Are the likes of apple going to go down in price . They dont usually do that in other products. Its not necessarily to go down in pricing. They have been quite higher in terms of pricing for the products because they want to capitalize on the side of their devices on the hardware. Then you look at fitness manufacturer, the prices going down very strongly. Thats about 15 so thats very very cheap. Its less than a tenth of the apple watch. Well have to leave it here. Thank you for coming in. Now fitbit ceo will be on squawk on the street today at 10 00 a. M. Eastern time. Adidas says its speaking with an Investment Bank as it looks into options for its ailing golf business. Slightly better than expected earnings thanks to shares in the company. Planet fitness pricing its ipo at 16 a share. The top end of the expected range. It raises 216 million valuing the chain at about 1. 6 billion. Planet fitness has more than 7 million members. It caters to first time or occasional gym users with memberships for 10 a month. It will trade under the sticker symbol plt. He will be on squawk on the street at 10 00 a. M. Eastern time. Still to come on Worldwide Exchange, bill ackman finds a new company to snack on. Why the investor may be targeting mondelez. That story coming up next. And well leave you with a live shot from cleveland ohio. We, in fact wont do that but we will bring it to you after the break. Worldwide exchange back in two. Try the superior hold. Of fixodent plus adhesives. They help your denture hold strong more like natural teeth. And you can eat even tough food. Fixodent. Strong more like natural teeth. Fixodent and forget it. All eyes will be on current gop president ial front runner donald trump when he and the other top ten polling candidates take the stage for the first republican debate. What can you expect . Tracy potts live in cleveland with the latest. Good morning. So were standing outside the q. This is where both debates will be happening. Remember there are two. Theres the big primetime debate with the top 10 that made that cut and then earlier, a few hours earlier the 7 who did not make the cut at the bottom of the polls will be debating separately and given the fact that social media will be all over this they could make some news as well. Donald trump is going to be the focus because of his poll numbers he has said he wants to focus on the issues and this will be a new arena for donald trump. We havent seen him debate before as we have some of the others that are career politicians. The governor of the state barely made it in. He will be on that stage tonight along with a number of others. The format is two separate debates. We will not see opening statements. Too many candidates to try to get to the substance of this debate. Theyll go right into questions when the debate starts tonight. Thank you so much. Back to trading action it was a tough day for some of the media and cable companies. A lot of that being lead by disney after reporting disappointing earnings on the guidance front. Walt disney one of the big losers in yesterdays trade down by about 9 . We actually heard from time warner better than expected earnings from that company but similar story from Discovery Communications down by 12 but one company was able to buck the trend. The only spot here dish network with better than expected earnings. Investors cheering that stock up by 4. 3 but a very tough day for media in general. Astonishingly tough day. Disney grabbed most of the headlines but affecting a lot of other stocks in the sector. Lets move on and talk about bill ackman. He has gone to the pantry in search of another big investment. This time targeting the maker of oreo cookies and cadbury cream eggs. Landon has the details for us. Good morning. Ackman and his firm are disclosing a 7. 5 stake in mondelez saying they intend to file a report with the sec. The stake is worth roughly 5. 5 billion as of wednesdays close. The stake includes call options and forward purchase contracts or custom contract to buy or sell at a specific price on a future date. In a statement mondelez welcomes ackman as an investor. The wall street journal which first reported the story says ackman wants the snack maker to grow revenues at a faster clip and cut costs significantly or consider becoming a take over target by selling itself to a rival. Potential buyers could be pepsico which has the newly formed kraftheinz. It split into two companies. Kraft food which is cheese jello and Maxwell House and mondelez. They merjedged earlier this year. Ackmans arrival puts mondelez in between two wellknown activist investors. Nelson peltz has a 3 stake in the company is on the board and played a role in the break up of kraft. He says he wasnt pushing for mondelez to do a big deal wanting it to improve margins and sales. Its taken several steps to reduce cost requiring managers to justify every expense in their budge. Last week the Company Reported better than expected Second Quarter result and raised its stock buy back by 6 billion. Checking shares today theyre up by 11 . Back to you. Thank you very much. Quick question oreos or cream eggs . Oreos all the way but you cant go wrong. Its chocolate. I have to agree with you as well. Dunk or slide . I dont really mind you just shove it in and eat it frankly. Landon, thank you very much as ever. Much appreciated. And before we go to break, these are the headlines, wti still on the slide with brent below 50 barrel. U. S. Futures now indicating a lower open too. The battery runs out of tesla shares as the Company Slashes its full year earnings outlook and debating dond, the firstald, the first of the president ial debates kicks off in ohio. Well be back in two. Welcome back. Quick look at asian markets and we are mostly lower here. The shenzen off by 0. 7 . There are a lot of concerns about ipos coming back to the market. Only the nikkei with a modest gain of a quarter of 1 . Goldman sachs estimates that china spent about 144 billion to boost the countrys stock market. It also adds that the cfs which operates the main rescue fund from the state has about 322 billion at their disposal. To be honest i dont care how big the arsenal or the fire power is if the measures dont work it doesnt matter. You would think with this scale of intervention that we would see some change stabilization in the stock market and improvement in the economy but we havent seen that yet. Its difficult to beat the market. These numbers are interesting because so far its very hard for any of us to know what the exact figures are and how much is in the war chest. Goldman sachs releasing their estimates as a interesting reference point. Its hard to beat the market when the market is going against you. China has bigger reserves in terms of its market as well as overall economies. Its hard to stem that tide. How quickly the story changed. China was once seen as a land of opportunity and now a source of concern telegraphed in earnings this quarter. Sales were down 8 . Volumes in china had fallen although today a bit of a breath of fresh air saying theyre seeing a increase in sales in china. And we had numbers from mercedes benz. They saw a 47 increase in july sales year on year. Thats massive given that other auto makers suffered incredible. The consumer is spending but theyre being selective. Lets have a look at european markets which were strong yesterday and theyre a little soft today. Germany and france just below flat. The ftse 100 is down 0. 4 of course. Oil and gas weighing on the ftse 100 today given the sell off yesterday. Another big day of roller coaster moves for u. S. Stocks following the slightly disappointing adp report and now our attention turns to tomorrow. We get that july jobs report. Futures indicating a lower open. The dow off by around 11 points. This as Oil Prices Continue to move lower. Lets give you a run down of what to watch this trading day. Weekly jobless claims are out at 8 30 a. M. Eastern. The number of people filing for Unemployment Benefits is expected to increase from the previous week. The fed says it needs to see a sustained recovery in the labor market before it decides to raise rates. Networks report before the opening bell. Second quarter loss nearly tripled such as the battery factor and new model x offset higher sales. Teslas operating loss beat forecast and revenue rose 24 . Ceo elon musk says tesla may expand their production. Shares of the stock falling nearly 6 in after hours trade down a similar amount here in europe. Lets talk more with the auto analyst at isi group. George tesla losing more money than expected. That shouldnt be a surprise because this is a company in its growth phase. No . Exactly. The quarter itself was in line with expectations when you look at the eps but youre right the Company Continues to lose money and burn cash and this is what the street is expecting because as you point out theyre investing in growth. Even with todays drop the stock is up 18 year to date. A lot of analysts have been voicing concern over valuation. What do you make about what the stock is trading at right now . We have a target of 320 so we clearly see further upside from here. When you look at the valuation of tesla youre not looking at metrics 12 or 24 months out. This is a longterm story. We believe in electric vehicle growth and tesla are in prime position to capitalize on that. Were expanding the fleet offering. Model x. He said he is still on track for late september. Is that very important in the medium term . The launch of the model x is important. Its clearly going to help hugely with demand next year and toward the second half of next year it should be about equal numbers in terms of production and deliveries. However the Investment Case is largely focused around the model 3. Thats going to be the more mass market higher volume vehicle and thats what tesla need to deliver to hit the half a Million Units by 2020. George i want to come back to the issue of spending. Theres really a very fine line between spending too much or really spending for growth and yesterday the ceo said they may have to raise more cash. This is a company just seeing too much of a cash burn that doesnt have spending under control you think . We feel that the capex is well maintained. Around q2 it was around 400 million. At the moment they have cash and Cash Equivalents in excess of a billion. A 750 million credit facility. They have already drawn down on that to date. Theres ample liquidity as things stand and they have spoken about being positive in q1. That being said they need to raise equity at some point in the future. And that doesnt change anything about the ratings . As we look at tesla historically they raised equity in the past and what they tended to do was put together hedges in order to help offset thedy dilution. We dont want to kind of speculate on whether tesla see themselves as a rival to uber in the future but whats interesting about tesla is the speed with which they have gone from being in autonomous driving to one of the forerunners and theyll be leading the industry when it comes to driveless features. Selfdriving electric car. Also your thoughts on the battery business. Power wall battery and power pack business expected to bring in revenue in 2016. Is that where your consensus is as well . We think theres potential to be about 5 to earnings but with respect to the Tesla Energy Business at the moment were not including it in our forecasts or our target price. Just want to move off tesla for a final question and talk more broadly about the car market globally. We saw earlier in the week the likes of bmw with disappointing shares in china. Sales were strong. Where do you want exposure for auto sales . Which markets are strong and which are suffering . Based on q2 earnings north america still looks one of the most attractive markets. Double digits from ford and gm and a large increase from sea that printed close to a 8 margin there. So north america remains attractive. In europe we still have evidence of a strong recovery off a very low base and china is a very mixed bag but we see this as a market normalization and longer term still structure reasons to want to be exposed to the market. Youre very positive on tesla. Whats the topic in the auto space . Outside of tesla, at this point, diamler. Great stuff. Thank you for joining us today. Auto analyst at evercore isi. We have a premarket trade for mondelez. Shares seen higher by 12 . Mr. Ackman took a 7. 5 stake in the company. That stake is worth around 5. 5 billion. According to the wall street journal he wants to make the snack maker grow revenue faster cut costs significantly or even sell itself to a rival. It will be interesting to see that. As that story develops is that last point what he is focussing on . That would be the most juicy story of course and probably the one thats most likely the share price reacting to because a 12 move quite significant. Thats not coming from change of management or something along those lines. Two active investors now a part of the story. Nelson peltz on the board and now bill ackman. Markets just below flat as we leave you and u. S. Futures pointing to a slightly negative open. Thats all we have time for on todays show on Worldwide Exchange. Thank you for joining us. And as we leave, we leave you with pictures of people gathering on the river in hiroshima in japan to commemorate the lives of those that perished in the atomic bomb attack. Good morning, breaking overnight, bill ackman taking a more than 5 billion chunk of mondelez. So what does the activist investor have planned for all of those oreos and ritz crackers. Tesla shares sinking as the auto maker cuts its sales forecast. Can you say 44 oil . How many people are hooking up with am music . New number today but will it turn the stock around . That is the question on thursday, august 6th 2015. Squawk box begins right now. Are you telling us absolutely everything . Not exactly. Were also out of coffee. Live from new york where business never sleeps this is squawk box. Good morning and welcome to squawk box here on cnbc. Becky and andrew are off today. We have some coffee talk this morning. Thats why were playing this music. Todays earnings disaster belongs to green mountain. The stock plunging close to 30 on revenues and the company is cutting 5 of the work force. This is a stock well be watching throughout the morning. Year to date the shares have fallen more than 60 . Look at that. It was already a bad chart over the last year and then plummeting. Another big story this morning, bill ackmans amassing a 5. 5 billion stake in mondelez. The firm