American express. Just a few of the names set to report when the bell rings an hour from now and any one of those could set the tone for stocks tomorrow. We will have all of the action realtime for you. Well decode the reports so you know what they mean for your bottom line. And the moment twitters earnings come out, we will talk exclusively with the Ceo Dick Costolo. Julia boorstin is at twitter headquarters in california. Dont miss this inside look at whats happening with twitter. Costolo speaking with us even before the Earnings Conference Call and you can ask him. A lot of questions about twitter, its significance in social media, its earnings, growth rate. All those things well get into next hour. And its not just president obama. The senate, we talked about this yesterday, the senate now taking steps to prevent companies from claiming their headquarters are outside the u. S. In order to save on Corporate Taxes. That man, illinois democrat dick durbin, has introduced a bill that would prohibit any federal contract with Companies Involved in a tax inversion process. Dick durbin will be here. There will be a lot to talk to him about on this issue coming up. His state hit hard by all this going on. Keep an eye on walgreens. Thats coming up. Were watching markets with the dow off about 30 poins at the moment, 16,952. Meanwhile, the nasdaq is up about 6 points after falling yesterday, and the s p 500 off about four to 1,974, as we head into the final hour of trade. Were waiting for the president. Hell be leaving the white house shortly. Before he gets on marine one and heads to Walter Reed Hospital, hell be making a statement. We believe, were told its about ukraine, but we believe it could be a part of the situation today where they announced those sanctions, but all of that is relevant and all related and well wait for that statement from the president. I will say, those sanctions have hurt the market today, the announcements of those sanctions. So, this could be market moving, whatever the president says, coming up in a few minutes. So, well watch for that. While we do, lets get to the Closing Bell Exchange with sam stovall from s p capital iq, david kudlow, nicholas colis and Rick Santelli as well. Sam stovall, weve been highlighting the weakness in the russell 2000 lately. This is one sector that really is kind of having its own correction right now, isnt it . It certainly is, bill, down a little more than 9. 5 , but the bottom really occurred in the middle of may. So, you could actually say that the sell in may is working if youre looking at small caps specifically, but it seems as if its bounced off of that danger zone and now is trying to work its way back to break even. Eric, what can you tell us about the action youre seeing . Well, im not actually surprised. The russell 2000, if you look at its performance last year, was astounding. I mean it was outpacing large cap significantly. Coming into the year, we were concerned about pockets of valuation problems within the 2,000, particularly biotech, some of the higher flying tech names. Youve seen corrections. We think that the market is going to move forward and the russell 2000s driven by the domestic economy, which we think is straelengthening. David, is this the correction weve been waiting for, it doesnt happen to the whole market, just to segments of the market instead . Well, thats what weve seen a lot of this year as these internal corrections or rolling corrections through different sectors, but we think theres more of a broader correction to come. As we move through earnings season, and this has been a great earnings season for stocks. We still believe were in a secular bull market, but we think theres a more meaningful, broader pullback for the overall stock market the next few months as we come to an end to qe, which the last time we did qe2, the market sold off 19 . Also, were going to get to the point where the fed moves from easing to neutrality to tightening. And when theres been an inflection point, stocks have pulled back 5 to 15 . All right. Both of those factors, were looking for a pullback in stocks here. Nick, want to raise the issue with you about tax inversions and about tax outversions, if we could use that language. Take a look at windstream today, basically spinning off some of its assets into a real estate play that lets it lower its tax rate. Nick, what happens if Corporate America, having seen what they can do to invert now looks at their real estate, and im thinking of some of the biggest retailers in this country, and say, wait a minute, we could spin off all of our real estate, too. Thats right. Its a very big opportunity for Corporate America and a very significant one, and its definitely a way theyre trying to address what are still structurally very high tax rates in this country, visavis a lot of other ones. Thats created a lot of imbalances and confirmations are sillplay trying to redress that using these innovative structures. Rick santelli, talk of sanctions against russia took the wind out of the sails of the equity market today. What did it do to other markets . Weve seen oil and gold go up a little bit, then come back again. What about the debt market . Well, you know, we could make a case that bund yields were affected because when they got down to the 1. 11, 1. 12 area, they went comatosed basically after that 10 40 eastern announcement, so there was no bounce, no mean reversion. The Euro Currency pretty much made its low of the session, the lowest since november, right after that. You know, we cant just look at the Energy Markets and draw conclusions because that isnt the energy that the pipeline thats controlled by putin going into that part of europe is represented by. But ill tell you what, i know that these sanctions make sense to many, and i am not a Foreign Policy expert, but somebody like putin, with energy as his big trump card, to me, id certainly hope that germany and some of these countries, areas that are bordering and use that natural gas, have backup plans. Maybe its time we should look for bottoming coal, maybe, in the u. S. But i think, you know, after having lived through the 70s, theyd better have an energy plan. No economy works without energy. Putin has a lot of influence. Yeah, all right. Folks, were going to have to go at this point. Sorry for the abbreviated exchange, but the president , were waiting for him. He should be stepping out of the white house shortly to make that statement on ukraine and the russian sanctions. So well get to that live in just a couple of minutes here. And we have 53 minutes to go until the closing bell. The dows off 22 points again after some gains earlier in the session. Its been an upanddown hour. The s p 500 off about four, the nasdaq bucking the trend, adding eight. And volume on that index as well has been heavier today. Still to come, that tsunami of afterthebell earnings heading our way tonight. American express, amgen, twitter, panera bread just among some of the names reporting. Well bring you their numbers the second they sit the street and tell you how they might affect the markets and your portfolio. And twitter Ceo Dick Costolo speaking with us exclusively after releasing that earnings report. Find out how he plans to pump up twitters user growth and wait until you hear his plans to beef up advertising as well. Plus, is it new evidence that the Housing Market may be stalling, or are falling prices good news for housing right now . The contrarian view that might surprise you is still to come here on the closing bell. Dont just visit new york. Visit tripadvisor new york. With millions of reviews, tripadvisor makes any destination better. White chocolate loversividual. Dont like dark chocolate. Milk chocolate lovers dont necessarily like dark or white. Before we couldnt really allow the consumer to customize their chocolate. We needed a scalable Cloud Solution allowing them to select what they are looking for. Now there is endless opportunity to indulge. Customization is made with the ibm cloud. The ibm cloud is the cloud for business. Down day right now, but were watching all of the markets. Anythings possible. This market just feels like it could go either direction, and it has today. The dow was up 73 points on the open this morning. Around 10 30, 10 40 eastern time when they announced eu sanctions against russia, the market cascaded lower and weve been below 17,000 since that time, and along those lines, the traders are watching very closely for this statement the president is expected to make outside the white house. It could happen any time now, as he departs the white house for Walter Reed Hospital there in bethesda, maryland, to visit with people there. But at any rate, waiting for that statement. Could have something to do with ukraine and the russian sanctio sanctions. And as we await more earnings, Bertha Coombs is watching the movers. U. P. S. Moved lower on weaker than expected Second Quarter earnings as revenue fell despite increased profits. U. P. S. Trading down about 3. 5 . Etna fell, despite reporting betterthanexpected secondquarter results. However, it reported a rise in medical costs in certain areas, raising some investor concerns that a long run of growth in those might be ending, or low growth, rather, in those costs. Etnas trading down about 3 on the day. And windstream surging after receiving Regulatory Approval to convert some of its assets into a reit. It is trading at about 10. 8 . And Telecom Companies today, it was the best performing sector. Centurylink, frontier, at t and verizon. And gravity, meantime, setting in on el pollo loco. The stock moving lower, finally, after having an explosive run since pricing at 16 a share and opening at 19 on friday. Investors today pulling back. Its off now just over 9. 25 . Kelly . Bertha, thank you for now. Now, that caseshiller composite housing index released today showing a slight decline in may, the first time its slipped in 27 months. The index is still running up better than 9 on the year, so, is a slowdown in housing prices here a bad thing, or would ko it help spur sales . Lets find out. As we all know, all real estate is local, so were going to go local with some realtors to get a view from different key cities around the country. From atlanta, its joe gibson from Keller Williams intown real estate. From las vegas, its cynthia silver from century 21, martinez and associates. And from miami, its Patricia Delana from century 21 premier elite realty. Just a warning, the president could start his statement from the white house any moment and well have to be rude and step into that when he begins. Patricia, let me start with you. Miamis long been a very volatile real estate market, very hot, very cold. You guys are back to some degree, arent you, at this point . Well, miamis in a very unique position, because what were doing is attracting buyers from all over the world still for many different reasons. 62 of our buyers are foreign buyers, and 90 of those buyers are buying cash. We have buyers from brazil, venezuela, argentina, france, canada, colombia, mexico and peru. And what these investors see thats different is tremendous opportunity in growth right now in miami. For one example, there is the design tower. We have over 22 billionaires that have recently placed deposits on this tower. Wow. We have the miami world center, brickell city center, with billions of dollars invested in miami. Right. Do you risk overbuilding, as in the past . I think right now the competition is healthy and creating a very balanced market, keeping prices very affordable. Okay. And joe, how different are conditions in atlanta, and to what extent do you think the recent increase weve seen in home prices is now leveling off because of that increase, in other words, because its gone a bit too far, more than people can afford . Sure. There is always a possibility of that, but the atlanta market is so strong, prices do continue to edge up, but its a healthy kind of increase. We have plenty of buyers. We have more buyers than we have product. And i just dont see an end in sight. But its a very healthy, healthy growth. I happen to know the atlanta market, youre kind of spread out, so is it equal across the board there or the closer you get to town or the closer you get to town, the better. We have a lot of densely populated intown markets. The decatur area, buckhead, midtown, those city center areas are the ones with the greatest growth, anywhere from 10 to 20 growth over the last just year to today. And cynthia, jo made a point that gets to the heart of this, theres more buyers than product. Is that your experience in las vegas as well . No. As a matter of fact, in las vegas, whats changed this year is that our inventory is up 30 and sales are down 7. 5 versus the same period a year ago. However, what we are seeing is that we did keep the bulk of the gains that we made in home values the same time last year. So, were still selling at 98. 9 of list price. Ladies, stand by for just a moment. The president s not beginning yet, but we are getting a sense of what hes going to say. Our correspondent michelle carusocabreras stepping in with a preview of that statement. Reuters is reporting right now that the u. S. Is going to slap sanctions on several Large Russian banks that are stateowned. Vtb, the bank of moscow, the russian agriculture bank, and also a shipbuilding corporation. They are not specifically including spare bank, the largest stateowned bank. Its not clear why. Hopefully, we will get some answers to that later. The sanctions are very similar to what europe did earlier. They prohibit u. S. Citizens or companies from dealing with debt maturities debt carrying maturities longer than 90 days. So, only shortterm debt, also no new equity. When it comes to the shipbuilding company, theyre going to freeze any assets they have in the United States and prohibit all u. S. Transactions with it. Thats a much more standard kind of sanction regime that weve seen in the past when it comes to certain companies. So, sanctions on banks, but its not that you cant do business with the bank at all, its just that you cannot deal with their debt or their equity that matures longer than 90 days from now. It makes it very difficult for those banks to raise capital in the west if both europe and the United States are doing this, guys. And thats the intent. Michelle, thats exactly what i was going to ask you. These sanctions on the Financial Institutions now bring the u. S. Up to where the eu is . Yes, exactly. Very specifically. When it comes to these debt maturities and the way that they are, this is a different way than weve done sanctions nth past, right, or that were familiar with, where they designate a certain entity, say in iran or a certain country, and say, all right, everybody in the United States or anybody who wants to conduct dollar transactions, you cant do that anymore with this institution. That is not the case here. These are very specific kinds of transactions and very similar to what europe did. To your point, yes, kelly, youre right. I know theres no answer to this, very quickly, but the optics of this announcement, this is a pretty important announcement and this is sort of a lock buy by the president , if this is how its going to work. Hell step out of the white house, head toward marine one, first make this statement and then head on to the helicopter there. This is the kind of announcement you would think they would go to the rose garden and make a big deal out of here. Like i said, theres no answer to that. Its just very interesting how theyre choreographing this particular announcement today. Yeah. Yeah. I dont know what else to say to that. I wasnt expecting an answer. Im just making an observation. Thanks, michelle. Well be back to you after this happens here. Lets get back to our guests on real estate around the country. You know, we keep hearing as Housing Affordability becomes more out of reach for those firsttime home buyers, the rental market is so strong right now. Jo gipson, is that the case in your town in atlanta . It is definitely the case in atlanta. Its, again, a product problem. We dont have enough rentals. Theyre building them. Construction for rentals has exceeded what its been in years past, but there are not enough of them right now. Patricia, can i just ask you something with regard to the news about sanctions on russia . We know russians have been a big presence buying in miami and in the florida area. Can you tell us whether youve seen any change in that of late . Not yet. A lot of our foreign buyers are buying in miami exactly for political reasons, safety reasons and acceptance. Miami being an international city, foreigners feel more accepted and comfortable in the miami area. So, we still see that very strong. Cynthia silver, what about your rental market . I mean, you guys, you got hit really hard. You more than any city maybe symbolize the boom in real estate we saw in the 90s going into this crash, and then you symbolize the hardest hit. Is it thats true. Is the rental market now strong because of that . It is still very strong here. Having said that, its interesting to me, as more and more of our potential buyers have returned to Financial Health and theyre in a position to purchase homes, weve just developed other areas of our rental market that are super desirable, and thereby, were commanding higher rent. Were even seeing more luxury homes and penthouses on the strip that are renting out or being purchased by investors as highend rentals. The return rate on those is excellent. Any idea on underwater or foreclosure rates right now . You know, weve got 70 of our home sellers above water now. And so, with only a third of the homes under water, its been a vast improvement for us, but we do still have a high demand for rentals in all price ranges here. Getting a Real Estate Agent to talk about foreclosures is like asking a golfer to utter the word shank. You just dont do that and i apologize, but i know its part of the market right now. Thank you all for your thoughts on the Housing Market in your part of the country. Thanks for being with us. Thank you. Heading toward the close with 40 minutes left here as we await the president. It will be interesting to see. I mean, the market, the traders are awaiting to hear the fine points of what the president s going to say about russia and the sanctions and its impact on the markets and the european economy. So, well wait to see what impact it has to the markets. The dow down 20 points as we wait for that statement. Up next, the tale of two restaurant chains. This chart will tell us the story. What Chipotle Mexican Grill is doing right and what can panera bread do about it. Results are due after the close today. Also coming up, congressman darrell issa in a first on cnbc interview. Well talk about the widening congressional investigation into alleged corruption at the Exportimport Bank that is hoping to get recertification from congress. Today a witness pleaded the fifth during a hearing. What is it with congressman issa and witnesses pleading the fifth these days . Remember lois lerner and the irs . Weve got darrell issa joining us ahead on the closing bell. Your 16yearold daughter studied day and night for her drivers test. Secretly inside, you hoped she wouldnt pass. The thought of your baby girl driving around all by herself was. You just werent ready. But she did pass. cause shes your baby girl. And now youre proud. A bundle of nerves proud. But proud. Get a discount when you add a newlylicensed teen to your Liberty Mutual insurance policy. Call to learn about our whole range of life event discounts. Newlywed discount. New College Graduate and retiree discounts. You could even get a discount when you add a car. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. In a we believe outshining the competition tomorrow requires challenging your Business Inside and out today. At cognizant, we help forwardlooking Companies Run better and run different to give your customers every reason to keep looking for you. So if youre ready to see opportunities and see them through, we say lets get to work. Because the future belongs to those who challenge the present. Were waiting for the president to come out of the white house on his way to marine one, making a statement about the situation in ukraine, the sanctions against russia to be announced. And our Washington Bureau chief just emailed me. I was questioning, youre doing this as sort of a walkby, such an important statement. He says as soon as they turn that camera around, bill, youll see this major podium that the president s going to make the announcement on in front of marine one, which should be very impressive. So, i stand corrected in that regard. Thank you. Not just saying it in stride, i guess. Exactly. Heres how markets stand. Dows off 25, the s ps also negative on the session, down to 1,974, by the way. The nasdaqs up about seven points. And so, Different Directions for the second day running. On we go. A lot of interest in panera bread earnings out in a few minutes. Morgan brennan previews that action for us. Morgan . Thank, bill. Take a look at panera year to date, down about 16 . Thats a stark reversal for the fast casual chain which was considered a growth story just last year. This year, the company has seen weaker sales while at the same time rolling out costly automation plan called panera 2. 0. Consensus estimates for q2, 1. 74 per share on revenue of 640 million. For samestore sales, were looking for 1. 7 increases both in corporateowned and franchise cafes, and also expect the automation rollout to weigh on results. Also watching for potential impact from food inflation. So, ahead of the earnings, shares are up today more than 2. 5 . Guys, back to you. Yeah, not a bad performance on the session, morgan. Thank you. The names panera and chipotle used to go hand in hand when we were talking about healthier fastfood options and growth in the casual space and lately their companies and share prices have diverged. So, what is chipotle doing right that panera is doing wrong . Lets bring in two restaurant analysts. Nick is from Wedbush Securities and Bob Derrington from wunderlich securities. Good to see you both. Nick, whats your answer to that question . I think chipotle has been able to differentiate itself and continue to differentiate itself. It has prisicing power at the e of the day. Its Business Models conducive to running that line faster and faster so they can drive samestore sales gains. When panera, maybe theyve lost a little of the differentiation over the last few years. The sandwich sub category is extremely competitive. And really at the end of day, theyre not in the same position as chipotle to move that line faster and faster. So, weve seen more of the group issues be a headwind. And i want to ask in a second what your views on the shares is, nick, but bob, same question. And you know, why is it that a couple of years ago in fact, it was panera who was almost first into this space, but now chipotle seems to have the edge here. And whole industrys watching them, by the way. Kelly, id call it death by 1,000 cuts. I think panera breads brand has been considerably more differentiated in years past. I think a lot of competitors have tried to steal some of the specialness of what the concept has, and in doing so, weve seen a lot of encroachment from whether its a starbucks or a Dunkin Donuts or a mcdonalds, try and capture some of that, and i think its being their business. Its affected their sales. Ive long equated them with a starbucks. Its an inviting environment that they pose. You feel like youre in a comfortable environment there. I mean, so, why arent we going there more often, bob . Well, the problem, bill, is that there are so many options today. Chipotle is far more differentiated in the marketplace. Panera bread i think has a lot of brands that are trying to emulate it and the quality of the experience, whether its in the decor, the quality of the food. And i think paneras at a stage where theyre clearly trying to break away from the pack, as they have in the past. Nick, what is your view in terms of price targets and the like for each . And why is it that panera, like bill was saying, its a place where you can have a coffee, have a business meeting. Shouldnt they be getting a lot more visits and a lot more of the starbucks model than they appear to be getting from this space . Well, theyre trying address that with the panera 2. 0 initiative. When we have conversations in those markets where weve seen that being implemented, like charlotte, like boston, we are seeing, you know, very impressive doubledigit sales lift. So, i think its just a matter of time until we see that being rolled out throughout the United States. And so, when it does actually, you know, expecting to see samestore sales come right back. Okay. Gentlemen, wed love to continue the conversation, but we are waiting for the president. That may be imminent, so were going to take a break, but thank you both for your thoughts today on panera and chipotle, as we get ready for those panera earnings here. Were heading toward the close, about 30 minutes left here as we wait for the president to come out and talk about the russian sanctions. Up next, House Oversight and Government Reform Committee chairman darrell issa. Well talk about the widening congressional investigation into allegations at the Exportimport Bank. He supports continuing the bank, albeit with important changes. Well talk that out with him. And lator, senator dick durbin speaks with us about a bill aimed at cushing tax inversions, a hot potato issue on wall street. Thats when u. S. Companies, as you know, buy smaller, foreign firms in order to cut the taxes owed to uncle sam. Senator durbins bill could affect a lot of multibillion dollar acquisitions now in the works. But is it the right way to fix this snish thats one of the questions that you wont want to miss that he addressst coming up on closing bell. Stay tuned. Re. During the cadillac summers best event, lease this all new 2014 cts for around 459 a month or purchase with 0 apr and make this the summer of style. Over 20 million kids everyday in oulack access to healthy food. For the first time American Kids are slated to live a shorter life span than their parents. Its a problem that we can turn around and change. 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Switch to comcast Business Internet and get the fastest wifi included. Comcast business. Built for business. If youre just joining us, were waiting for president obama to be coming out of the white house on his way to bethesda, maryland. Hell stop to a podium and make some comments about sanctions against russia. You may have heard the eu earlier in the day announcing sweeping sanctions against the russian government, and that took its toll on wall street, frankly. It took the equity markets down. We had been up 73 points on the dow, then it fell on word of those sanctions. So now traders are waiting anxiously to hear what the president has to say, an as soon as he makes that statement, well take you live to the white house. 70 sanctions, 30 internals. That was art cashins assessment earlier as the dow is off 35 points. Our next guest is just getting out of a hearing regarding the exim bank. Its the Exportimport Bank that helps American Companies do business overseas, a controversial agency lately, up for congressional renewal and being scrutinized by the Republican Congress because many feel its an arm of crony capitalism. Today a key witness in those hearings pleaded the fifth. It was a witness that was called for by our next guest. Hes joining us in a first on cnbc interview, representative darrell issa, who chairs the government veracyoversight and committee. And we apologize if we have to interrupt once the president cuts in with more on the sanctions against russia. Absolutely. Let me cut to the chase. Do you believe congress will renew the charter before it runs out september 30th . I believe we will. I believe that the work thats being done now to express the need for reforms, making the igs findings of nearly 40 ongoing investigations a matter of Public Record and getting us turned around to where we can believe that the investment made in helping American Companies compete internationally is being made in a transparent way. I think thats going to help go a long way toward getting bipartisan support for reauthorization. Do you think Kevin Mccarthy shares that view . Well, i commented yesterday that my opinion was that he did, that there were conditions under which he would do a short or even a longer renewal. But thats for him to speak for himself. What i think is important is that its undeniable that the exim bank at times has made possible sales overseas of American Companies that otherwise would not have happened. The question is, is that criteria clear and transparent . Can we count on corruption not being part of it . Can we aggressively go after people who, in fact, are corrupt in this organization . If we can do that, then i certainly think members in both parties would say, if its necessary in order to get an export sale to have this kind of support, and if our competitors are doing it and were competing against those countries, then i think youll get that support. And thats what we were doing the hearing on today is exposing, so we can get the reforms so people can vote on a bipartisan basis for renewal. Certainly, fraudulent activitys one thing. That needs to be looked into. But these charges of capitalist cronyism, that theres favoritism that occurs when the bank makes these loans. The charges of corporate welfare for korpgs that probably dont even need the money to make these deals overseas, how do you police that . What changes do you propose to try and change an environment that is, frankly, part of the whole lending process . It is a very subjective process to begin with. Well, it is subjective, but remember, the original intent is american jobs for exports being supported by guarantees or outright loans. If the american jobs is the first question, then obviously, a very Large Company like boeing or General Electric is going to have larger loans and larger amounts of them. But it has to be based on whether or not thats actually the case. In some cases, what we find, and year after year, what we find is that the majority of loans were made to Small Companies while the majority of money, by far, is made to just a handful of large companies, and that does beg the question of is there enough access to a small or Mediumsized Company that, in fact, has a product desirable overseas and needs exim support . So, again, regulating it and making sure its honest and transparent i think is going to help promote the confidence, regardless of where those loans are made. Just so you know, mr. Chairman, were inside the twominute warning for the president right now. Go ahead. Speaking of that, i want to ask you about the president , the extent to which hes using executive orders on fronts from tax policy to immigration and whether thats an Impeachable Offense in the future. I shouldnt smile about Something Like this. Clearly, the president has a need to use executive orders to honestly execute laws passed either by him or his predecessors. He shouldnt use it to distort the intent of a law. Thats why theres a case thats going to be brought against the president to try to hold him accountable, to make him enforce portions of the Affordable Care act that hes chosen not to, or at least come back to congress for that kind of approval. I think thats important but that doesnt sound like a scam, which is what john boehner called it this morning. Well, look, when the president does things that are clearly outside of his lawful authority, there are two choices fire him, which is what you were talking about, or go to the court, get him to executive faithfully on his obligation. By the way, its not just the president. We have organizations all the way down to small bureaucratic organizations that are not treating the American People fairly consistent with the law but would you agree this is an issue which john boehner has said the democrats themselves are using to their advantage . All right, we have to leave it there. Mr. Chairman, thank you for your time. We have to go at this point. Yep, the president coming out right now. Hes heading to bethesda to visit some of the patients there at walter reed memorial, the hospital. But before he does, hell go to this podium right now and sort of add on to the eu sanctions that were announced this morning against russia, and now well hear what the president has to say about it. Good afternoon, everybody. In the netherlands, malaysia, australia and countries around the world, families are still in shock over the sudden and tragic loss of nearly 300 loved ones, senselessly killed when their civilian airliner was shot down over territory controlled by russianbacked separatists in ukraine. These grieving families and their nations are our friends and our allies. And amid our prayers and our outrage, the United States continues to do everything in our power to help bring home their loved ones, support the International Investigation and make sure justice is done. Since the shootdown, however, russia and its proxies in ukraine have failed to cooperate with the investigation and to take the opportunity to pursue a diplomatic solution to the conflict in ukraine. These russianbacked separatists have continued to interfere in the crash investigation and to tamper with the evidence. They have continued to shoot down ukrainian aircraft in the region. And because of their actions, scores of ukrainian civilians continue to die needlessly every day. Meanwhile, russia continues to support the separatists and encourage them and train them and arm them. Satellite images, along with information weve declassified in recent days, show that forces inside russia have launched artillery strikes into ukraine, another major violation of ukraines sovereignty. And we have information that russia continues to build up its own forces near the Ukrainian Border and that more Russian Military equipment, including artillery, Armored Vehicles and air defense equipment, has been transferred across the border to these separatists. Since the beginning of the crisis in ukraine, the United States has worked to build a Strong International coalition to support ukraine, its sovereignty, its territorial integrity, its right to determine its own destiny and to increase the pressure on russia for actions that have undermined ukraines sovereignty, territorial integrity and ability to make its own decisions. The core of that coalition is the United States and our european allies. In recent days ive continued to coordinate closely with our allies and our partners to ensure a unified response to the shootdown of Malaysian Airlines flight 17 and russias continued arming of the separatists. And ive spoken several times with Prime Minister ruta of the netherlands and Prime Minister abbott of australia. Yesterday i had a chance to speak with Prime Minister cameron of the united kingdom, president hollande of france, chancellor merkel of germany and Prime Minister renzi of germany. We are united in our view that the situation in ukraine ought to be resolved diplomatically amid a sovereign, independent ukraine is no threat to russian interests. But weve also made it clear, as i have many times, that if russia continues on its current path, the cost on russia will continue to grow. And today is a reminder that the United States means what it says, and we will rally the International Community in standing up for the rights and freedom of people around the world. Today, in building on the measures we announced two weeks ago, the United States is imposing new sanctions in key sectors of the russian economy energy, arms and finance. Were blocking the exports of specific goods and technologies to the Russian Energy sector, were expanding our sanctions to more russian banks and defense companies, and were formally suspending credit that encourages exports to russia and financing for Economic Development projects in russia. At the same time, the European Union is joining us in imposing major sanctions on russia. Its most significant and wideranging sanctions to date. In the financial sector, the eu is cutting off certain financing to stateowned banks in russia. In the energy sector, the eu will stop exporting specific goods and technologies to russia which will make it more difficult for russia to develop its Oil Resources over the long term. In the defense sector, the eu is prohibiting new arms exports and imports and is halting the export of Sensitive Technology to russias military users. And because were closely coordinating our actions with europe, the sanctions were announcing today will have an even bigger bite. Now, russias actions in ukraine and the sanctions that weve already imposed have made a weak russian economy even weaker. Foreign investors already are increasingly staying away, even before our actions today, nearly 100 billion in capital was expected to flee russia. Russias energy, financial and defense sectors are feeling the pain. Projections for russian Economic Growth are down to near zero. The major sanctions were announcing today will continue to ratchet up the pressure on russia, including the cronies and companies that are supporting russias illegal actions in ukraine. In other words, today russia is once again isolating itself from the International Community, setting back decades of genuine progress. And it doesnt have to come to this. It didnt have to come to this. It does not have to be this way. This is a choice that russia and president putin in particular has made. There continues to be a better choice, the choice of deescalation, the choice of joining the world in a diplomatic solution to this situation, a choice in which russia recognizes that it can be a Good Neighbor and trading partner with ukraine even as ukraine is also developing ties with europe and other parts of the world. Im going to continue to engage president putin as well as president pore cheoshenko and o partners in pursuit of a diplomatic solution, but it is important for russia to understand that, meanwhile, we will continue to support the people of ukraine, who have elected a new president , who have deepened their ties with europe and the United States, and that the path for a peaceful resolution to this crisis involves recognizing the sovereignty, the territorial integrity and the independence of the ukrainian people. Today the people of ukraine, i hope, are seeing once again that the United States keeps its word. Were going to continue to lead the International Community in our support for the ukrainian people and for the peace, the security and the freedom that they very richly deserve. Thanks very much. Is this a new cold war, sir . No, its not a new cold war. What it is is a very specific issue related to russias unwillingness to recognize that ukraine can chart its own path. And i think if you listen to president poroshenko, if you listen to the ukrainian people, theyve consistently said they seek good relations with russia. What they cant accept is russia arming separatists who are carrying out terribly destructive activities inside of ukraine, thereby, undermining the ability of ukraine to govern itself peacefully. Thats something that no country should have to accept. And the sooner the russians recognize that the best chance for them to have influence inside of ukraine is by being Good Neighbors and maintaining trade and commerce, rather than trying to dictate what the ukrainian people can aspire to, rendering ukraine a basile state to russia, the sooner that president putin and russia recognizes that, the sooner we can resolve this crisis in ways that doesnt result in the tragic loss of life that weve seen in Eastern Ukraine. Go ahead. So far, sanctions havent stopped vladimir putin. Are sanctions going to be enough . And are you carrying lethal aid for ukraine . Keep in mind, the issue at this point is not the ukrainian capacity to outfight the separatists. They are better armed than the separatists. The issue is how do we prevent bloodshed in Eastern Ukraine . Were trying to avoid that. And the main tool that we have to influence russian behavior at this point is the impact that its having on its economy. The fact that weve seen the europeans, who have real, legitimate economic concerns in severing certain ties with russia, stepping up the way they have today i think is an indication of both the waning patience that europe has with nice words from president putin that are not matched by actions, but also recognition as a consequence of what happened with the Malaysian Airlines flight that it is hard to avoid the spillover of whats happening in ukraine impacting europeans across the board. And so, we think that the combination of stronger u. S. And european sanctions is going to have a greater impact on the russian economy than weve seen so far. Obviously, we cant in the end make, you know, president putin see more clearly. You know, ultimately, thats something that president putin has to do on his own, but we can do is make sure weve increased the costs for actions that i think are not only destructive to ukraine, but ultimately are going to be destructive to russia as well. All right . Guys, ive got to get going. Israels attempt to discredit secretary kerry . The president there announcing additional sanctions on portions of the russian economy. As he said, those three key areas energy, arms and finance. We didnt see much of a market response. The dow was down 50 points at the low during his statement, and when he was answering questions, but it has since come back. John harwood is standing by there in washington. I mean, you know, this is sanctions in slow motion, john. Vladimir putin publicly complains about them, but it doesnt seem to change his strategy as it pertains to ukraine. Question is whether it changes as they get more severe. This is the president seizing on a development hes been waiting for, which is a different attitude on the part of europe, in particular germany, italy, france, the united kingdom, to try to decide that theyve gotten to a place that they were willing to suffer the pain themselves of inflicting pain on russia in response to the downing of that jetliner. So, i think the administration, if they got out too far in front, it wouldnt affect russias behavior because europes a bigger player with russia in any event. And so, now the combination of the two both tightening at the same time in similar ways. You said, finance, arms, energy. At least it holds the possibility. We dont know its going to work and were going to find out relatively soon if it will, but since nobody believes that military action itself is an option, this is the best shot theyve got. Now, the president did get a question about arms to ukraine, and what he said was, the problem right now isnt the ukrainian militarys capacity to respond to the separatists backed by their russian equipment. So, he indicated that thats not where theyre going, and they believe that theres some room to run with these sanctions. John harwood, thank you for now. We want to get out to michelle carusocabre carusocabrera, whos back at cnbc headquarters as well. To the point john harwood was making, when asked whether the u. S. Will supply lethal aid to ukraine, he says its not that they need more arms assistance, its that theyre trying to figure out how to prevent russia from being a proxy in perhaps stirring up more unrest in Eastern Ukraine. I think hes absolutely right. I would add that i think whats happening today and the conference that president obama had yesterday with the leaders of france and italy in particular, who are both very reticent to actually do something as strong as has been done today, this is a seat change for europe. Now, that doesnt necessarily answer bills key question, which is does this make putin act differently . We dont know that, but weve certainly gotten to a place where we werent necessarily even close to getting to before. The europeans were not willing to go along. I think the key moment came not when the plane went down, because remember, everyones reaction to the plane was, oh, maybe putin will realize that arming the rebels is a problem, and what did we see after that . He actually increased arms to the rebels. I think that was the moment when europe woke up and said, okay, were not dealing with somebody whos like us. And so, now we have to do something different. So, italy coming along. They were the most reticent. France coming along, thats a very big deal. But theyre still going to sell that Aircraft Carrier to the russians, yes. All right, michelle. Thank you very much. As we said, even through all of this, as the traders waited anxiously for this statement, we didnt see much of a response. You know, right now theyre waiting for that gdp report tomorrow morning and then the fed decision tomorrow, so theres a lot for this market still to digest over the next 24 hours. Yeah, even oil, gold, some of the areas you think would be much more sensitive, perhaps, than just equities are not showing the same level that you might otherwise expect in this kind of discussion, when its happening front and center and right into the close here. Weve got seven minutes left. Well take a break and come back with the closing countdown for this tuesday. After the bell, then all eyes are going to turn to crucial earnings hitting wall street, including twitter. Ceo dick costolo is here exclusively as soon as the numbers are released. Keep it right here. Thats straight ahead. Youre watching cnbc, first in business worldwide. Faster than , we believe outshining the competition tomorrow requires challenging your Business Inside and out today. At cognizant, we help forwardlooking Companies Run better and run different to give your customers every reason to keep looking for you. So if youre ready to see opportunities and see them through, we say lets get to work. Because the future belongs to those who challenge the present. [b ll rings] time and sales data. Splitsecond stats. Its so close to the options floor, youll bust your brainbox. All on thinkorswim, from td ameritrade. Welcome back. In other international news, we have breaking news now on argentina. Our kate kelly with the details. Kate . Thanks so much, kelly. The argentine mirabal, the stock market rallying about 6 on lateday notification that some friendly bondholders, people who lent argentina money through government bonds issued prior to 2001 and then accepted lower payments than expected in order to help the country through a difficult economic period, they are moving for some relief in the situation which is pushing argentina toward default. A recent court filing in new york urging judge tom griesa, who recently urged argentina to pay all creditors at once and put them in a situation where they may reach technical default thursday morning, theyre urging him to lift his order, insisting everyone be paid in full at the same time, i. E. , end of the day tomorrow, and give some relief to argentina, which has claimed it cant afford this. So, some relief at least in the argentine market, although it seems dicey as to whether this will actually result in judicial action as asked for. Kate, as you mentioned, that index up almost 6 on that news today. Now out to Bill Griffeth and the closing countdown. Were going out near the lows of the session now, kelly, down 53 points on the dow. Transports are down 110 points now, so four days straight down for that index. And the russell has been lagging as well. Heres the transport. Look at this. Right on the lows of the session. Thats been a fourday slide after hitting those alltime highs. That was the strongest sector for a while, not now. Now we get earnings coming out at the top of the hour. Twitter is the one were highlighting because dick costolo, the ceo, will be joining us live to answer our questions and your questions about this company and their future. Theyre looking for earnings to be essentially unchanged. The breakeven for that quarter. But the other Companies Reporting as well, look at this American Express, amgen, panera and Dreamworks Animation all reporting in the next couple of minutes here, bob pisani. But this weakness in the small caps and the transports continues today. Right. I think its interesting. Everybody says ukraine hasnt had any effect on us today. 220 or so . Yes. Formally, we finally got a formal word of what the sanctions were and were coming into effect. The market did drop lower. Germany had been weak. Weve noted this for a week now, germanys been clearly affected by this. Buying yields in europe are at historic lows. Obviously, they moved lower recently because of what was going on with the ecb, but just since the ukraine crisis, theyve moved lower. Clearly, thats in response to that. A little plight to safety there. We have spanish bond yields below u. S. Bond yields. Yeah, right. Strange . Is this not strange . That inversion continues here. Speaking of which, earnings continues at the top of the hour, but tomorrow we get the gdp report for the Second Quarter again and then, of course, the fed tomorrow afternoon. So, again, a lot coming up here. Yep. And remember, this is a little bit unusual for today because normally theres a thing called the fed drift, where the day before the fed announcement usually has been a positive day for the world market. Thats obviously not happening and heres the impact. By the way, American Express, another company that does a lot of business as well in europe, well be looking for any comments they have on the impact of people buying in that country, these countries as well. Always about the guidance, thats for sure. Thank you, bob. Thats right. Okay. See you later. Were going to go out down 55 points, but there is a lot more to come. The tone will be set by the earnings that are coming out that we mentioned just a moment ago, and you can stay tuned. Weve got dick costolo, the ceo of twitter, joining us to answer questions about the companys future. That guidance will be key for that company that has really fallen on hard times the last few months. Stay tuned now. Its the second hour of the closing bell with kelly evans and company. Ill see you tomorrow. Thank you, bill. Welcome to the closing bell, everybody. Im kelly evans. And it looks like markets are going out on their lows of the session. Take a look with the Dow Jones Industrial average shedding about 66 points here. Thats 0. 4 . 16,916 is the level for the blue chips. The nasdaq, positive most of the session today, turning negative at the bell, down about two points. And the s p 500 off about eight, almost 0. 5 to 1,970, sitting just on a level that many around here had been watching. Lets get right to it about our closing bell panel today as we wait on some more earnings, including twitter imminently. First, lets talk markets. Lance, doug holtzeakin, cnbcs own kate kelly, and also with us for more on markets today is fast money trader brian kelly. Welcome to everybody here. And doug, look, we went out on the lows almost 70 points off the dow, in fact, related perhaps to president obama just announcing sanctions against russia. Is this reaction warranted . This is the traditional response to geopolitical risk. Markets have actually been ignoring it by and large, so this is actually probably a more reasonable reaction. Its interesting the way that the eu suddenly was a step ahead, it seems. And now the u. S. Is catching up on some of the sanctions theyre imposing. Is that how you read it . The real question is how severe the sanctions will be in practice. Weve heard the sectors that the president promised to hit, but the eu is not with tough energy sanctions and without that, you dont hurt the russian economy. So, weve had this dilemma from the beginning. And brian kelly, undeniably, any harm to the russian economy will do harm to the Global Economy and here in the u. S. Yeah. Certainly we saw it in some of the visa numbers and you just mentioned American Express. Well see what happens there. You know, i mean, its very interesting, because i do think this is the first time that the stock market in the u. S. Has acted as it should to these sanctions, because really, whats the end game here . Putin is not going to back down at any point in time, which means this is going to escalate. And that is not good in general for the Global Economy. Kate, do you agree . And in terms of putin not backing down, look at europe. I mean, they need the natural gas supply thats coming from russia in order to get through the winter, which, yeah, were in july right now, but thats only a few months away. So, their hands are a bit tied as well. I mean, its a tough situation in terms of the hard realities of commodities supplies alone all around. Doug, that goes back to why the eu suddenly has gotten ahead on this, gotten out front on this. Is it because they want to take action now with the hope that something will be resolved come the winter season . Certainly, if theyre going to have a problem, its going to be now. I think theyre also hoping that the ecb will bail them out a little bit on the growth front. They have two big fears. One is winter heating and the second is a recession. Theyre growing at 1 . If you hit russia hard enough, you practically deliver a european recession, and thats a big problem. Look at already whats happened in germany. Weve seen the ifo benchmark Sentiment Survey down three consecutive months, underperforming where people had hoped for an economy that up until next, brian, had been pretty resilient. It has been, and particularly in germany. And we know germany has china as their largest customer, so thats always a concern when you start to see germany weaken, because it does mean that perhaps china is starting to weaken, despite the fact that the shanghai composite has gone up over the last couple days. These are concerns, and if germany at the core is falling, then the rest of europe should probably fall as well. Weve seen the transports in particular take it on the chin for the last couple of sessions, and no exception there today, down better than 1 . Is this, again, one of these things we should read to some extent, guys, as a gauge of whats more to come . Is it that the transports in particular could be vulnerable here . Doug, whats your sense of things . Theyre vulnerable on the international front, so international transports a big deal. For me in the earnings, im looking at American Express because its really retail sales and its going to dictate how much strength there is in the u. S. Economy to survive what is a weakening global picture. Theres no doubt about that. Yeah. Brian kelly, one of the, i guess questions, if you wanted to put it that way, that people have had s why oil and gold havent responded more here. The reasons for gold have pretty much disappeared. So, weve had, you know, negative interest rates. Those are gone. You had china buying. You had india buying. Those are all gone now. And now youre starting to get a stronger dollar. So, for gold, thats very tough. On this dollar, i would watch and see what russia does. Because if the ruble gets weak enough, there is a potential, and its a very, you know, its a tail risk, i guess, that russia backs the ruble with gold. That would be kind of their parachute out of a really weak currency collapse. So, thats something to watch on the gold front. Wow. See, i mean, all the same kate, talking through whether russia would take a step like that . Im sorry . Hang on a second. Were going to get more on these American Express earnings that are now out with Bertha Coombs back at headquarters, everybody. Hold on one second. Bertha, it looks like a beat on the bottom line, at least. Looks like it beat on the bottom line. American express reporting 1. 43 per share. Thats 5 cents ahead of expectations. 8. 66 billion on the top line was more or less in line. The company says card member spending rose 9 from a yearago levels, and overall, the growth rate accelerated from earlier this year with higher volumes across all of our businesses in the u. S. And internationally. Back to you, kelly. Bertha, thank you. So, no sign necessarily of what visa was talking about here, at least in the initial read. Were going to dig through the release, lance, but i wonder if this doesnt then again make investors question whether its a visaspecific issue instead of a geopolitical one here. Oh, hold that thought, guys. We have got twitters Quarterly Report out. Julia boorstin you promised a wild ride. Joins us now with the numbers. Julia . Thats right, kelly. Twitters beating at both the top and bottom line with average monthly users of 271 million. Expectations were 267 million. Now, revenue came in at 312 million versus expectations of 283 million. And nongaap adjusted earnings per share, it was 2 cents per share. It was expected to be a loss of a penny per share. So, thats 3 cents better than expected. Now, going through the various metrics here, kelly, that look at twitters profitability, advertising revenue per user came in at 1. 02. It was expected to be 96 cents. So, thats better than expected. Also making gains. Theres been a lot of comparisons to facebook there. So, making gains there. Then theres another metric here, ad revenue per 1,000 timeline views. That came in at 1. 60. It was expected to be just 1. 49. Joining us now to talk about these betterthanexpected numbers, twitter Ceo Dick Costolo. Dick, thank you so much for joining us today. Sure. Surprising the top and bottom line. What drove Revenue Growth better than expected . We had a great quarter across the board, id say. Revenue up 124 . Thats great acceleration year over year for us again, a Fourth Quarter of revenue acceleration. The monthly active users, as you mentioned, up to 271 million. That was a net add of 16 million. The highest number of stlut net ads in the quarter. So, i think it was the highest number of net ads in five quarters, rather. So, i think it was a combination of things across the company that have really come together for us and im very, very happy about that. It in terms of user growth, how much of that is thanks to the world cup . And will you be able to hold on to those user, or will they drop twitter once theres no more soccer to talk about . So, i think fantastically, its generally been the case that its product changes that have driven new user growth and these live events that drive more engagement from our active users. So, it was over the course of the quarter product changes that weve made and that weve talked about that have driven the growth, not the event itself. So, how many new users were added before the world cup . Can you tell us, like, how much of that was just a total reduction of churn rather than just this big world event . Sure. I would say that it was a continuous set of growth across the quarter. It was no one moment or onetime thing that affected the growth in users. It was the combination of product changes that weve talked about over the course of the year that are starting to deliver the kind of results we wanted to see. And as i mentioned, the world cup drew engagement, more engagement from our existing users, and it was the product changes that drove growth. In terms of the revenue increase, i know you recently launched app install ads. How much are they to thank for this increase in revenue . Well, i dont want to steal my own thunder on the Earnings Call thats coming up please, steal your thunder. Although if anyone was going to steal their own thunder, i am a likely candidate. So, we will talk about that in a bit. But obviously, im delighted with the increase and the acceleration in revenue, even advertising revenue up 129 . Acceleration there as well, so thats all fantastic. Kelly, you want to jump in . Dick costolo, julia, thank you. Its great to see you. Can you talk about what your revenue projection or plans are now as we head into 2015 . I mean, how fast and how sustainable is your Revenue Growth . Well, anthony nodo, whos just joined the company, will be talking more about guidance Going Forward on the call coming up. You raise your gibs here. Your 2014 total revenue guidance is up to 1. 33 billion. The Prior Guidance has been 1. 2 to 1. 25 billion. What explains that differential and the raised guidance . I think the differential is due to the success that weve had over the course of the beginning of the year and our view as to how that success will translate into the back half of the year. Its pretty straight forward. Kelly . Can we talk for a second just about privacy, dick . Some of the questions coming in from folks about twitter have a lot to do with, you know, the security of their accounts. And this, as you know, is a huge issue in the u. S. And also internationally, almost the more successful twitter is, the more people are looking to interfere with it. Sure. Well, weve implemented a bunch of privacy and security techniques for our users and to protect our users, like two factor authentication. Weve implemented a very novel and compelling approach, the two factor authentication means you have to have more than just a password to get into your account, to boil that down. We take that very seriously. We have a whole product team focused on user safety and privacy and well continue to invest in that as we become increasingly the worlds Information Network. Obviously, its the case that we need to take that seriously and address it. Do you view facebook as a competitor, dick . Ill tell you how i think about the landscape. We have a very clear set of goals that we are looking to achieve, and theyre all based on the core characteristics that make twitter the worlds realtime Information Network, that were public, that were realtime, that were conversational and that were widely distributed. Were going to invest in those characteristics in service to our goals, and there will be lots of other companies that achieve success in this secular trend of the mobile landscape, and thats great. But now, your Monthly Average users, 271 million, its just a fraction of the 1. 3 billion that facebook has. Your average revenue per user is starting to make gains on facebook. You have 1. 02. Facebook this past quarter had 2. 06. Youre about half of what facebook has. Will you be able to have the same average revenue per user im sorry, advertising revenue per user as facebook does . We dont think theres anything structural from preventing us from having the kinds of Financial Results you see from other players in the space. Do you think youll be able to have the same size audience as facebook does . Our goal is to have the largest total audience in the world and reach every person on the planet. Thats our goal, nothing less than that. Now, you did add more than expected users this past quarter. You still only have 271 million. Thats up from 255 million at the quarter. So, youre growing, but its not growing that fast. How can you accelerate twitter user growth . What are you doing to make that leap . We have a very clear product road map that weve laid out. Were implementing that product road map. Weve added a number of product executives to the company, daniel graf, of course, running consumer product, a bunch of other executives who are implementing this road map. I like the progress theyve made in service implementing that roadmap, and that 16 million net new user ads this past quarter is the highest number weve had in five quarters and im very happy with that. But do you need to change what twitter is all about and make it more of a content consumption platform and less in service of the people who like to tweet . Because there are probably fewer people who want to tweet than people who want to read tweets. When you think about the 271 million monthly active users, the majority of whom create content on the platform, that content is obviously appropriate and applicable to a global audience and a broad audience. Weve talked about the reach and impact of twitter before, both in syndication off of our owned and operated properties, and we have hundreds of millions of people that come to twitter and dont log in that come to our properties. So, that audience that we have that already creates content is applicable to a much broader audience and well be talking more about that on the call. How important is commerce to your future . Do you have the raised guidance . Is that because youre going to be starting to generate more revenue from commerce . As weve discussed before, i think that the possibility of inthemoment commerce, now commerce, if you will, thats afforded by a platform like twitter is enormous and well continue to explore the possibilities. I dont think we have anything else to add. Can you address to what extent mobile app install ads are driving your Revenue Growth . Well, we like the opportunity presented by mobile app install ads and ill let anthony and the team talk about their guidance for that on the call. Have you opened up to sorry, go ahead, kelly. No, look, i understand if you want to leave the numbers to the cfo. Im just curious as a strategy whether mobile app install ads are an important part of your Revenue Growth . Mobile app install ads are a great opportunity. Weve obviously headed down that path and like the success weve had there and well continue to invest there. Now, we opened up to questions from our viewers, asked them to tweet in, askcostolo, and we got a huge range of responses. I saw a bunch of those. Im sure you saw some of them. We want to go through them sort of rapid fire style. Give us your fastest answers. How many fake accounts does twitter have and be honest . I think that we announced in our s1 that we have less than 5 of all accounts at any given time are sort of fake or spam accounts. Thats a challenge that obviously is something that applies to every platform in our landscape. We do a great job i think of eradicating those the moment we find them, and in fact, i think were Getting Better at that. Why is there no edit feature to typos . Well, theres something about the public nature of the tweets and broadcasting in realtime and having that realtime information stream that i think is delightful, and im not sure if being able to edit them in hindsight is the kind of platform we want to create. You dont let people fix their typos. Okay, how do you plan to increase the user base without ruining what makes twitter great to users . I think if you look at our apps on ios or android now and compare them to what they looked like a year ago, you would see that theyre, frankly, extraordinarily different. And yet, weve been able to make those changes as a cohesive set of product changes over time without disturbing or disrupting this growing core now over 271 million monthly active users, and im proud of that. Unfortunately, i understand we have to let you go and prep for your conference call, which starts shortly. Thank you so much for joining us. We appreciate it. Dick costolo, ceo of twitter. Kelly, back over to you. Thank you for having me. Our thanks to dick costolo. Julia, thank you as well. Well get more reaction to twitter, which is staging an impressive rally at this late hour on those earnings in just a moment. First, though, we want to round up all the other big names that have just reported after the bell. Bertha coombs has the highlights for us now. Bertha . All right, we begin with American Express. The dow component reporting secondquarter earnings that beat street expectations. Revenue at 8. 66 billion. That matched what the street was looking for. The stock is currently trading up here just a bit after hours. Panera posting secondquarter earnings of 1. 74 a share. That was in line with street estimates. Revenues coming in a little shy at 631 million. The stock at this hour is a little bit lower here after hours, down about 1. 7 . Buffalo wild wings, fantastic quarter, they had a fantastic quarter. They say they added one full point to their earnings. Their earnings beat both on the bottom and top line. Nonetheless, they are sounding off after hours, down 5. 5 . Amgen also posting betterthanexpected secondquarter results, also announcing that it plans to lay off 12 to 15 of its worldwide workforce and close sites in colorado and in washington, kelly. And those shares responding positively. Bertha, thank you for now. Our thanks to everybody. We want to thank brian kelly. Stick around and catch him coming up on fast money at 5 00 p. M. Theyre talking to the ceo of Spirit Airlines about its earnings beat this morning. Again, that all starts at the top of the next hour. Here the panel stays with me and weve got a couple guests joining us. We have more on the twitter results to come. Shares up almost 27 after hours, more than 10, trading just shy of the 49 level. Up next, a twitter shareholder reacts to the results and the interview and tells us whether hes buying or selling the shares following that big report. And after some very strong years, sales supplies outpacing demand in the Auto Industry. Well tell you why that could be bad news for carmakers and shareholders but potentially good news for consumers later on the closing bell. Youre watching cnbc, first in business worldwide. The world has gotten you far, but what if you could see more of what you wanted to know . With fidelitys new active trader pro investing platform, the information thats important to you is all in one place, so finding more insight is easier. Its your idea powered by active trader pro. Another way fidelity gives you a more powerful investing experience. Call our specialists today to get up and running. The ca illac summer collection is here. During the cadillac summers best event, lease this 2014 ats for around 299 a month and make this the summer of style. Yyyup. With xfinity internet soyour family can use all their devices at once. Works anywhere in the house. Even in the garage. Max whats going on . Were doing a tech startup. Were streamlining an algorithm. Were going public [cheering] the fastest inhome wifi for your entire family. The x1 entertainment operating system. Only from xfinity. I voted for culture. With a k. how are you . I voted for plausible deniability. I didnt kill her, david. And i voted for decisive military action. America, you cast your votes. Now, go to xfinity on demand and select the peoples hotlist to see this summers top 100 shows and movies. I voted welcome back. Lets continue the conversation on twitter, but here, and bring in two analysts to react to those earnings as well as what twitter Ceo Dick Costolo told us minutes ago. Twitter shareholder robert luna is here along with the panel. So, welcome, everybody. Lou, your first thoughts, first reaction here on a 27 afterhours move. Yeei think its a huge move promising signs. Another 16 million monthly active users compared to, i think last quarter it was about 9 million, but im still not convinced. Dick costolo said he wants to bring twitter to every person on the planet, but theres a key problem there. He has to face reality, and that is that simply twitter doesnt have much utility for every person on the planet. I think it is a niche product, which he is combating and fighting that categorization, but if you really look at the numbers, facebook at 1. 3 billion versus twitters 271 million. At the end of the day, mom, dad, even grandma understand facebook, but they dont have a clue what twitters for, and that shows up in the numbers. They have a lot fewer users. Robert luna, kind of to that point, whats your average cost on twitter and did you buy more here or lighten up on the position . Our average costs, kelly, on twitter is in the low 30s. A 25 move up after hours is never a time i get too excited about going out and buying a stock. You know, i was kind of hoping for a little bit of a selloff to add to our position. I would not be doing that at these levels. But i think this was show me the money time for twitter and to get bearish on the stock right here dubs maoesnt make a lot o sense. I cant find one metric they didnt beat on. This was a positive result for twitter. And when youre looking at the base, yeah, its less than a quarter of what facebook is, but as an investor in social media, thats really what the opportunity is. Theres a lot of room for expansion, a lot of room for multiple revenue sources. I think twitters a stock that you want to own as an investor right here. How much room for expansion is there, lance . You know what, i think theres probably more than people think about it, because although facebook and twitter are quite a bit different and not everybody can use twitter in the way maybe you think about tweeting out, were live tweeting dick costolos comments. Not everybodys going to do that. But when you think about twitter as an Information Network that a lot of people can watch, and thats where world cup showcased that possibility. It brought in so many eyeballs who could get great realtime information about what was happening in the world cup, and by the way, they worked it like crazy. I think the question about whether or not that played a role in those numbers, im sure it did, but it also was a proving ground. They did it better than theyve done anything else. And twitter will repeat that over and over again to prove, yes, this is a network for everybody. I think thats a fair point, but i do think there are going to be a lot of barriers to entry. I mean, how many globally, sort of leavening events are there like the world cup every year . I mean, there are very few things that so many people around the world care about. Oscars. Julia asked a good question about the oscars. How about the emmys . How about the tonys . How about the epsys. Julia asked about maybe more people want to read tweets than provide them, and i think theres a huge portion of society that doesnt care. I think in the media, we see what an important tool it is, but that may not be true of others. But you know what right, and i say that twitters better than a network because the percentage of people who are actually participating and putting content up is far greater than you would find with a traditional network. This is a new kind of media delivery system. Its sort of an amalgam. And i think that its strength p. M. So, yeah, its not for everybody to deliver and create, but its for more people than you would think. Doug . But twitters the most monetizing that. Twitters the most monetizing that. I would agree 100 that they are the best place in the world to get realtime news to break realtime news, but theyre focusing on advertising. And at the end of the day, not many of us can communicate in 140 characters or less, so it becomes more of a portal than a destination, and people include links to where they can provide more indepth coverage, and you have to monetize those eyeballs for a shorter period of time as theyre passing through, not when theyre staying put like they do on a platform like facebook. I think thats what were starting to see now, right . Theyre just now starting to increase monetization. Were seeing that in todays numbers. Again, i dont want to get too bearish here. When you look at dick costolo pointed to one unique proposition that they have to offer advertisers that facebook doesnt and some of the other social networks doesnt, which is realtime. So you know, journalists like yourself, kelly, are being kind of dragged on to twitter. The expectation now is that if you want realtime events, journalists, businesses that youre dealing with are on twitter. So, the ability to advertise in realtime i think is something yet that is going to be coming in following quarters. Doug . O, i think were seeing those numbers start to play out, though. I dont think that can be the end game, though, because if you look at traditional news outlets who have tried to turn themselves into online platforms, theyre not making any money. So, the more they think of themselves as just an Information Network i think the more they have to be innovative and be an amalgam. They cant look like a traditional news source. It wont pay. And i do think twitters so popular and heavily used in the media, in Public Affairs of all sorts, whether youre at the white house or youre in private pr, but beyond that, i still anecdotally have lots of friends and family members to whom i have to explain what twitter even is. And if i tell them they have an about tabitha says what is twitter . So, if you have to explain what you are to masses last word, lance. We explain all sorts of things. Remember how a lot of people are finding twitter. Theyre finding tweets on other sites. Its embedded all over the place. By the way, seems like some of the advertising, Revenue Program is starting to work. They are seeing an increase on per revenue per user. And so far, shares are still up almost 29 , 30 after hours. Its about 11, just shy of that 50 marb. I think the markets speaking. Well see if anything they say on the call changes that trajectory thus far. Thank you for now, everybody. The earnings have been coming in fast and furious this hour. Up next, well recap the results from twitter, American Express and all of the other big names reporting after the bell. Also, senator dick durbin unveiling a bill to curb Corporate Tax inversions. It does nothing to change the tax code overall. Well hear the details from the senator, whos here, in just a few minutes. Tdd 18003452550 there are Trading Opportunities tdd 18003452550 just waiting to be found. Tdd 18003452550 at schwab, were here to help tdd 18003452550 bring what inspires you tdd 18003452550 out there. In here. Tdd 18003452550 out there, tdd 18003452550 there are stocks on the move. Tdd 18003452550 in here, streetsmart edge has tdd 18003452550 chart pattern recognition tdd 18003452550 which shows you which ones are bullish or bearish. Tdd 18003452550 now, earn 300 commissionfree online trades. Tdd 18003452550 call 18886486021 tdd 18003452550 or go to schwab. Com trading to learn how. Tdd 18003452550 our trading specialists can tdd 18003452550 help you set up your platform. Tdd 18003452550 because when your tools look the way you want tdd 18003452550 and work the way you think, you can trade at your best. Tdd 18003452550 get it all with no trade minimum. Tdd 18003452550 and only 8. 95 a trade. Tdd 18003452550 open an account and earn 300 commissionfree online trades. Tdd 18003452550 call 18886486021 to learn more. Tdd 18003452550 so you can take charge tdd 18003452550 of your trading. Welcome back. Another wild day for earnings after the bell here, so Bertha Coombs joins us to round it up. Bertha. Yeah, ive got big reports and they keep coming. We begin, though, with twitter, reporting a 124 jump in quarterly revenue to 312 million, easily beating street expectations. Its monthly active users rose 24 to 271 million. The stock, as you can see, surging there after hours, up over 25 . Amgen posting a betterthanexpected secondquarter profit as well, helped by strong sales of its arthritis drug enbrill, up around 1. 25 billion. It also raised its fullyear forecast. The company also saying it plans to cut up to 2,900 jobs or 15 of its workforce and close two plants. That stock also getting a boost after hours here by about 3. 4 . And American Express reporting secondquarter earnings that beat street expectations as well. Revenues came in at 8. 6 billion. That was in line. The stock is trading higher. Well, its about flat at the moment. The company saying that customers spent 9 more than a year ago. Panera posting secondquarter earnings of 1. 74 a share, in line with street estimates. Revenues, though, coming in a little light at 631 million. Panera also cutting its profit outlook for the year. The stock is up here after hours, up 1 . Kelly . Bertha, thank you. The Auto Industry has had a heck of a ride the last five years, but are carmakers on the verge of becoming a victim of their own success . Our phil lebeau is going to explain why sales might have topped out, straight ahead. And the u. S. Senate now taking action to try and eliminate tax inversions. Coming up, the man behind a brand new bill, senator dick durbin joins us in a first on cnbc interview. Stay tuned. In a world thats changing faster than ever, we believe outshining the competition tomorrow requires challenging your Business Inside and out today. At cognizant, we help forwardlooking Companies Run better and run different to give your customers every reason to keep looking for you. So if youre ready to see opportunities and see them through, we say lets get to work. Because the future belongs to those who challenge the present. Welcome back. The political football is tax inversions continuing to grab headlines in washington. My next guest today announced a bill called the no federal contracts for corporate deserters act. His aim is to make it too financially painful for companies to change their home offices to an overseas address in order to escape high taxes. Joining me now, senator dick durbin, the author of the bill, a democrat from illinois. Senator, welcome. Good to be can you. I know you take this issue personally. Some of the biggest Companies Involved in tax inversions include ones in your backyard, potentially walgreens. How much revenue here is the u. S. Potentially losing and how much is this just a symptom of our broken Corporate Tax code . Theres an estimate that walgreens, if it decides to renounce its american Corporate Citizenship and move overseas, would be spared paying some 4 billion in federal taxes over a fiveyear period of time. Of course, that means that other taxpayers will be called on to make up the difference, other companies as well as individuals. I dont think thats fair for a company thats built its fortune here in america. The effective tax rate that most Companies Pay is well below the official or headline tax rate, if you want to call it that, and even as you move on one piece of this issue, there are other ways, including spinning off real estate that companies are going to try to lower their tax rate, and they say thats because the u. S. Isnt competitive. What is your response to these companies . Well, im for Corporate Tax reform and individual tax reform. I was a member of the Simpson Bowles commission and voted for that. I believe in it. We havent quite reached that goal and its hard to reach. Its politically extremely difficult. Our Corporate Tax rate at 35 , the nominal rate, is if not the highest, one of the highest in the world. But the effective tax rate, as you mentioned, is 25 , lower. And if were going to play this kind of scenario that says, well, if theres any Corporate Tax rate in the world lower than the United States, ours is too high, its a race to the bottom. We wont be able to keep up with other countries with even lower Corporate Tax rates. All the same, you cant prevent a company in this day in age from moving. You know, you could set up an island tomorrow and have a company move its headquarters there if it thought it would get favorable treatment. And one of the Companies Recently involved in this, hospera, is under pressure because its in the generics business and mylan and others in the generics business have already made this move. Theres the theory thats one piece of this. Theres whats happening is the other piece. And whether your legislation will really do anything retroactively to have stopped these companies or starting now. Will the whole congress be able to get behind you on this bill or on any others to come to keep this from happening . Well, understand, we are modifying or changing a law thats been on the books for ten years. What the law said was very basic. If you are an American Company thats given up your american Corporate Citizenship to lower your tax rate, socalled inversion, then youre disqualified from bidding on federal government contracts. Its pretty obvious why. If you dont want to pay the taxes to sustain this government and this nation, why should you be profiting from this governments business by bidding on it . We want to give the advantage to American Companies that are based here and have their employees here. This bill that weve introduced today is going to tighten this up, one of the loopholes thats used by the corporations to move overseas will be changed substantially by this bill. Would you support the president moving to executive order to tamp down on this issue of inversions . Yes, i do, and ill tell you why, because this is a growing trend. It used to be an exception, an unusual procedure, and now its become almost routine for these companies to walk away from america when it comes to meeting their tax responsibilities, shifting the tax burden, as ive said, to other companies as well as individuals. That isnt fair. We cant sustain and grow a good nation that has the services we need to succeed. You know, one thing that people may not an wear of is that the u. S. Is unusual in the way that its tax system is set up, because it basically says you have to pay the u. S. On profits you earn anywhere. Many other countries just say you pay us on the profits you earn here. So, when these Companies Move their headquarters, theyre still paying to uncle sam, just paying on what they earn here. Why not move the u. S. Towards that kind of system, as other countries, currently many of them already have in place, which is you just pay here on what you earn here, end of story . I can tell you, im open to suggestions, but i want to make sure the bottom line is this American Companies based in america that keep their jobs in america pay a decent wage, have a decent benefit package are advantaged by the american tax code. That to me should be our bottom line, and it should really guide us in our policy. If we start Rewarding Companies that are dreaming up ways to leave america, push jobs out of this country and avoid their tax responsibility, shame on us. And senator, just before we let you go, related to the question i asked about executive order, john boehner seemed to suggest that this talk about impeachment if the president uses his executive authority was it was a sham to talk about impeachment. He says its actually a talking point by the democrats to boost turnout ahead of the midterm elections this fall. Is he right about that, that this is actually an issue, impeachment, i mean, in which the democrats say, fine, go ahead . We think its a political winner for us. Speaker john boehner and the House Republicans dreamed up this notion of suing the president in court for the exercise of his executive authority, even though the executive orders from the president are far fewer than they were under previous president s. Its pretty clear he wants a confrontation. Weve seen confrontations in the past. The one thats ordained by the constitution involves an impeachment process, and some of the leading republicans are not dismissing that. John boehner may have second thoughts now about his lawsuit, but hes on the record starting this conversation. And senator, you have no doubts the president is within his authority here . I can tell you the president has been challenged in court where he has overstepped. He has been told by the court thats the case. But overwhelmingly, we have a situation where john boehner and the House Republicans refuse to take up critical measures like comprehensive Immigration Reform and then criticize the president when he uses his authority as president to try to deal with some of the challenges. Speaker boehner cant have it both ways. It reminds me of when president lincoln said to general mcclellan, if youre not going to use your army, do you mind if i borrow it . There comes a time in washington when Speaker Boehner should use his authority to solve some of our problems. Understood, senator. We will leave it there for now on these thorny issues facing congress and well see if we have any movement before the recess. Senator dick durbin of illinois, a state personally affected, we should say, by these inversion issues. Thank you so much for your time. Thank you. We have a news alert on ibm and Bertha Coombs has the details. Ibm electing two new Board Members to their board of directors. Alex gorske, the ceo and chairman of Johnson Johnson and peter voser, the former chief executive of royal dutch shell, who now serves as the director of roche holdings. So, a little bit of health care coming on there. Mr. Gorske will be a board member effective september 1st and mr. Vosers election will take effect on january 1st. Back to you. Bertha, a busy hour for you. We really appreciate your coverage on all of these news items 37 twitters earnings scorching cnbc. Com. The hot list is ahead. Plus, are redhot auto sales hitting a peak . Phil lebeau takes us behind the wheel. You do a lot of things great. But parallel parking isnt one of them. Youre either too far from the curb. Or too close to other cars. Its just a matter of time until you rip some guys bumper off. So, here are your choices take the bus. Or get Liberty Mutual insurance. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. See Car Insurance in a whole new light. Call Liberty Mutual insurance. Welcome back. Auto sales on a tear over the past five years. Some automakers now are fearing that they may be flooding the market with more vehicles than dealers can sell. Maybe that will be good news for buyers, though. Phil lebeau has that story for us now. Hi, phil. Hey, kelly. It will be very good news for buyers and were already starting to see that. Incentives last month were a little richer than the same month a year ago, and when you look at july auto sales coming out on friday, the expectation is the pace will be about 16. 7, 16. 8 million, a very strong pace relatively speaking. It will be the fourth straight month with sales over 16 million. The expectation is that next year, we could have sales hit 17 million, but take a look at this chart, because this says it all in terms of the growing concern on wall street. When you look at auto production and how much it has grown from 2010 through 2014 and then go out even further, and its going to continue to grow when plants in mexico come online and theyre sending vehicles to north america. That has analysts worried that the Auto Industry will be adding too much inventory. Excess auto inventory could spark incentive war, and that is the big fear here, is that you have them doing what they did back in the aerial 2000s of saying, hey, you want 5,000 off that vehicle . Well make that deal happen just so we can move the metal. And a lot of people in the investment community, theyre already worried about this. Look at the difference between the automobile Manufacturing Index and the s p 500. Not surprising, kelly. You want to invest in the auto sector at the beginning of the cycle, not at the end. And a lot of people look at this as an indication of, boy, maybe weve seen these guys add a little too much capacity. So, and phil, please stay with us. I want to get some thoughts from the panel, but its so interesting the extent to which autos, kate, could decouple from the Economic Cycle here, or if not, what that means for broader growth. No, absolutely. And this is going to be a key indicator of what kind of position were in going into this second half of the year. And i do think its an important gauge, because we have this running sort of wager. Is the economy in better shape or not . I mean, i have one Hedge Fund Trader i talk to a lot who says theyve been arguing with their boss all year as to whether to be bullish or bearish and there are arguments for both sides. So i agreed, this is a great indicator. Weve also talked about the credit aspect in all of this, doug, extent to which the availability of financing is driving a lot of this activity. But phils also getting to the heart of the supplyanddemand issue. Fundamentals are the key here. Certainly, were not going to see the Auto Industry driving more rapid pace of Economic Growth. To the extent its going to keep up with the economy, its going to depend on the strength in the household sector, and that is an open question right now. We just really havent seen the kind of combined job and Income Growth that looks like growing at 3 to 3. 5 . Its still closer to 2 , 2. 5 . Lance, have you bought a car lately . Actually, i have. I bought a mazda. Millennials, who are a lot younger than me, are not interested in having their own car. We just had a conversation about the alternative transportation, like uber and lyft. These businesses i think are more attractive to millennials than spending the money on something thats going to depreciate really, really fast. But even if thats the case, somebody has to drive around that vehicle. Phil, do you get a sense as to whether stuff like uber and lyft and the private car is fueling more demand for autos or interfering with it . I dont think its fueling more demand, and i think that when i talk with people in detroit, when i talk with the automakers, they find it interesting, but theyre not to the point where theyre worried about it, and thats because its a pretty small market where uber has an impact. Youre talking about metropolitan new york or metropolitan san francisco, l. A. , chicago. Overall, its a really small impact. But carsharing, no doubt, is coming in the future, and on a more wide scale, and that has the Auto Industry a little concerned about how do you keep sales going at a pace of 17. 5 or 18 million if you have more people saying ill share a car, i am not going to buy my own . And phil, what do people think is the ultimate run right here . To play devils advocate, going into this year, i dont know people would have expected the sales pace to be this strong. Is it possible it keeps surprising to the upside . Thats the expectation in the near future. Increasingly, im hearing people in the Auto Industry saying look, i wouldnt be surprised to see something go over 17 million by early next year and the pace is 17 million next year, maybe 18 million two or three years down the road. Nobodys forecasting that it goes beyond 18 million. In fact, they think its going to actually pull back into that 16 to 17 million range when you look out over the next five years. Thank you, phil, for now. You bet. Meanwhile, maybe argue more strongly when buying your car over the next several months. Bertha coombs has another update. U. S. Steel is moving higher in the after hours as they reported a narrower than expected secondquarter loss. Steel prices improved, but the impact of bad weather, particularly when it came to their flat row steel from the First Quarter they had higher repair costs and maintenance costs that continue to weigh on earnings in this quarter. They do anticipate that things will be better during the current quarter. The stock right now trading up here to 8. 4 at the moment. Back to you. And bertha, thank you. If you think thats impressive, take a look at whats happening to twitter right now. The shares are up over the 50 mark after reporting earnings earlier this hour. Its at cnbc. Com cnbc ablaze ant list is coming up next. Comer, the ceo of genworth is joining us as the parade continues. Well be right back. The cadillac summer collection is here. During the cadillac summers best event, lease this all new 2014 cts for around 459 a month or purchase with 0 apr and make this the summer of style. Machines will be sprayed to be made. And making something stronger. Will mean making it lighter. One day, factories will work with the cloud. One day. Is today. Here at fidelity, we give you the most Free Research reports, customizable charts, powerful screening tools, and guaranteed 1second trades. And at the center of it all is a surprisingly low price just 7. 95. In fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. Im monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. Call or click to open your fidelity account today. Having Necessary School supplies can mean the difference between success and failure. The day i start, im already behind. I never know what im gonna need. New school, new classes, new kids. Its hard starting over. To help, sleep train is collecting School Supplies for local foster children. Bring your gift to any sleep train, and help a foster child start the school year right. Not everyone can be a foster parent, but anyone can help a foster child. Could help your business didavoid hours of delaynd test caused by slow internet from the phone company . Thats enough time to record a memo. Idea for sales giveaway. Return a call. Sign a contract. Pick a tie. Take a break with mr. Duck. Practice up for the business trip. Fly to florida. Win an award. Close a deal. Hire an intern. And still have time to spare. Go to comcastbusiness. Com checkyourspeed if we cant offer faster speeds or save you money well give you 150. Comcast business. Built for business. Stories. In the last half hour, its been all about twitter. For that and the whole lot his alan wasler is wack, hi, allen. Twitter rocked our world. It was pulling in 300 readers every second. Now its cooling down a bit. It was our sixth postlooked up ticker. Its raced up to number three closing in on facebook. Before it came in, we had two other stories that were major heavyweights, an electromagnetic pulse warning, that was new for us. Finally a video mashup of all of mark faber dr. Dooms greatest hits, every time he predicted doom. Those are heavyhitters. Its all about twitter pretty much. I did notice, its great to have you back. Thank you, kelly. Up next, we will look at the data. We will talk more about twitter trading up almost 32 to 50 and change. Come friday, dont miss closing bell when reality tv star john tapper returns to the closing panel. Well be right back. Everybody nigh you didnt give for the lip to big john. [ male announcer ] what if a Small Company became big business overnight . Like, really big. Then expanded . Or their new product tanked . Or not . What if they embrace new technology instead . Imagine a companys future with the future of trading. Company profile. A Research Tool on thinkorswim. From td ameritrade. A Research Tool on thinkorswim. In a we believe outshining the competition tomorrow requires challenging your Business Inside and out today. At cognizant, we help forwardlooking Companies Run better and run different to give your customers every reason to keep looking for you. So if youre ready to see opportunities and see them through, we say lets get to work. Because the future belongs to those who challenge the present. Yyyup. With xfinity internet soyour family can use all their devices at once. Works anywhere in the house. Even in the garage. Max whats going on . Were doing a tech startup. Were going public [cheering] the fastest inhome wifi for your entire family. Only from xfinity. Welcome back. A lot to digest on micro and macrofront. We had a ton of tern e earnings. We are waiting for the figure, fomc, of course. 26th is up 30 over 50 a share after hours on these earnings, lance, a huge move. Yeah. This is, its probably the first really good move Dick Costello has had as ceo of twitterching hes talked about keeping their head down and focusing on the other things like growth, like revenue will come. Thats what he said wage to md directly to me. He doesnt want to go, we won, we won. He has a lot to do. If my twitter feed is any indication the safety issues that came up in the interview are causing a lot of concern and anger, particularly among women who think there are harassment on twitter. There are issues he needs to address before we can declare victory for them. Doug, what are you keeping an eye on . Im keeping an eye on the fed the economic reports later in the week. An ongoing debate on what shape the economy is in. The fed will give us a read on that. Strong, you think . I think more of the same. I dont see the foundations for, as i said, an act secceleration 3. 5 . What about senator durbin talking about avoiding tax avoiders . Thats fuzzy thinking at its worse. This is a tax problem. Contracting is supposed to be Getting Services for the American People that are essential and done at the lowest possible cost. This says, lets throw out the guy that can get it at the lowest possible cost and we will end up with inversion. By the way, i want to note that argentina has growth of 3 . They pay be in default 36 hours from now. What a world. Thats what im watching. So much to get through. We are watching twitter as we get into that call. We will hand it over to melissa lee at the mel heldment. You have a lot under tap. We will be trading those comments as well as the crazy action of twitter in the afterhours session. Its on heavy volume. If you are thinking about. If are you if an amazon trade, we got the three charts you need to know about. Uho. Dont go away. Over to you guys. Fast money starts right now. New sanctions against russia sparking a lateday selloff. Well have more implications for oil in the Broader Market coming up. Right now, shares are soaring after hours, the number of monthly users beating the expectations. Dick costello spoke before speaking to analysts and had this to say on how it was impacted by the world cup. Fantastically, its been the case product changes have gimp driven new user growth an these live events that drive more engagement from our active users. So it was
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