S p off by almost five and nasdaq down by 24. You see President Trump calling out china and a little afternoon, word about nancy pelosi announcing an impeachment announcement, then President Trump saying hell release the full transcript. This is just the volatility we saw. Definitely wall street watching washington to see what news comes next weworks cofounder adam neumann is stepping down as ceo. The starrup once valued at 47 billion has shrunk in a matter of weeks he said, quote, i am so proud of this team and our company. Our business has never been stronger in the recent weeks, the scrutiny towards me has become a distraction. I have decided it is in the best interest of the company that i step down as executive each will have three votes down from 20. Weworks former copresident and vice chairman have been named coceos of the company the Parent Company, we, could layoff 4,000 to 5,000 in response to this there may be a search attempt for a new ceo. They named two and said they were
The private equity giant 3g capital sold 20 million shares but there is a reason behind it. Stocks are set to open slightly lower well start off with that wework news, of course sort of trickling out yesterday, after the close. A delay in the planned Public Offering that has been so, well, such a focus over the last few weeks. As the price at least that wework thought it would get for its shares has rapidly declined over concerns about its Business Model, over concerns about governance, ever since they actually issued the s1, which mr. Cramer didnt take a fancy too, a lot of this goes back to mr. Adam newman, the man who founded the company and runs it. And this has been a chaotic process. Having reported on it now for a couple of weeks, i can sort of tell you ive never seen anything quite like this in terms of the disarray in preparing for a Public Offering. And i guess what was clear and perhaps funlly made clear to them was they werent ready. They were not ready to actually face pot
Good monday morning. Welcome to squawk alley. Obviously watching the dow down 142. Oil is the story of the day. Prices surging following attack on the Worlds Largest Oil Production facility in saudi arabia, disrupting the Global Supply of crude. Brian sullivan in houston with more on this hi again, brian. Reporter hey, carl, good morning. Playing a little zeppelin rock and roll there the market is rocking and rolling. So many effects from the attack, moments ago the u. S. Telling saudi arabia they believe they came from iranian soil lets put size and scope into perspective. I know you talked about how big this outtake facility really is, and it is not completely analogous. Heres a good example. We showed it earlier 5. 7 Million Barrels off line, facility is 7 million total barrels, 10 million all together there were two attacks so the two attacks outcake is what the market is focused on they hope to come online slowly the next couple of days. If you factored in five of the biggest refi
End down today, it will probably still be a strong july wall streets eyeing what would be a fivemonth winning streak thats very impressive. It is we have some downgrades today on the research front. Ford, ge, csx, u. P. S. , salesforce, thats just a few. We will dig into some of the reasons why. And twitter left its heart in san francisco, but elon musk saying the newly branded company, x, will still call that city home despite its downward spiral, as he says ill be out there next month. You will . Well, september, for dreamforce oh, dreamforce. Im a big believer in the city, and i was out there in september and was i dont want to say i was horrified. But its mnot the city that i remember were going to talk more about that, but i want to get to the markets as we start our coverage for the week. Today is our last day of july. As we said, fifth straight month were coming off what was a fairly strong week sure. And what seems to have been generally speaking, and of course, we got a lot mo
First republic and theyre not my main bank. Charles get the kisco ball . Liz disco ball, of course. Doesnt work if you dont have the disco ball. Chris thank you for the trade. The stocks are wiggle around here and anyway and the majors began losing afternoon gains after around 2 00 p. M. Eastern, thats when the Federal Reserve released the Second Quarter senior loan officer Opinion Survey and Dow Jones Industrials was already over the map and and the banker tightened a quarter for all loan categories and consumer real estate and auto loans and survey rerespondents and considering that on this last day of july and regional, zion, key, and top seven winners over the last 31 days and look at which index was on pace to grab the best performer of the month. Gold medal and big tech sucking up the oxygen in the room and turns out small and mid cap stocks rob the nasdaq of the win. We have 59 minutes left to trade on russell 2000 looking to close out july with 5. 8 gain. Nasdaq this, dont get