Merger deal with pfizers generics unit. And disney domination. The studio breaking an alltime record for annual box office earnings, and of course, it is only july. So, theres a lot for investors to digest this week with stocks at record highs. Jim, coming off of those on friday, you were out, but a lot happened good to have you back. Thank you the starbucks calls kind of the emblematic of what happened this quarter. Starbucks had run big. So you had to figure, no matter what, how could it really move then it goes up big dollars because its better than expected, better than feared what were seeing are companies that we were worried about because stocks have run, and then the stocks do okay. So, this is a short sellers dilemma. Lets say youve been betting against companies because you truly believe theres been an earnings deceleration. If earnings just stay in line, the stock flies. If earnings are a little bit below, the stock doesnt do anything. Right. So, theres just this kind of bid
Power lunch kicks off right now. And stocks are hitting highs of the session on some breaking news out of washington, as you see, moving up by a half or a little more of a percent each lets get to Kayla Tausche with the details. Hi, tyler the market is moving on reports that u. S. Negotiators will be departing washington on monday to go to beijing my sources tell me these inperson facetoface talks are expected to take place in china at some point between the congressional recess, which begins friday, and a chinese holiday, which is set to take place on thursday, august 1st. Remember, the top u. S. Trade official, ambassador Robert Lighthizer wants to be meeting with members on capitol hill to talk up the usmca, he wants to get as much support as possible before lawmakers leave town for a month and so he personally, im told, has not wanted to leave washington until those conversations have wrapped up. That leaves just a window of a few days time for these inperson talks to take place. T
Accusing facebook of misleading investors as the doj launches this antitrust review. Corporate earnings going to be weighing on some stocks at least this morning boeing and caterpillar disappoint trade worries remain u. P. S. Shares sinking ahead of the open. Profits soaring more than 13 for the quarter. David abney joins us first on cnbc this hour facebook up first. Three different Government Agencies today, the ftc formally announcing that record 5 billion settlement with the company over privacy violations, imposing new requirement oz on Mark Zuckerberg and making structural changes to the board the s. E. C. Simultaneously announcing 100 million settlement accusing the company of misleading investors about the misuse of user data. And lastly, last night, the doj is opening a broad review of Tech Companies, that will scrutinize leading Online Market platforms. Didnt name any specific companies, but obviously facebook, amazon, alphabet are all in play. Of the alphabet soup, what is mo
Record sales for the most valuable company. And boeings billions, it is taking a 5 billion hit in the Second Quarter due to the worldwide grounding of what was its bestselling plane ever. And rate cut optimism. Stocks on track to open higher but on pace for worst week since may. Microsoft on track to open at a record high, market cap above a trillion dollars Quarterly Results beat expectations on cloud strength here is nadella on last nights Conference Call. Our commercial Cloud Business is the largest in the world, surpassing 38 billion in revenue for the year with growth margin expanding to 63 . Im proud of what we have accomplished over the last 12 months, and im energized by the tremendous opportunity ahead every day we work alongside our customers to help them build their own digital capability, creating new businesses with them, innovating with them and earning their trust. Cloud is a third of revenue and after at t they had quite the week. Yeah. I did something i never do i list
Season just step away from the roulette wheel because if you try to trade around the quarterly reports, you are going to get singed, if not burned after a record day, where the dow gained 27 points hallelujah s p climbed 2 , nasdaq inched up 0. 17 . That was easy earnings season is devastating for traders. No if you want to invest in a stock before reports and buy things if the stock gets hit thats another thing but trading no thanks. I didnt always feel this way. My Old Hedge Fund i used to place heavy bets on what would happen before it happened. I had as much legal information as i could get my hands on and always thought i had an opportunity to make a good call ahead of time but that was before regulation fd when the government leveled the playing field. When i was running you could meet with execs with small Interest Groups other people didnt want access or privy to that is illegal. These days everyone has access to the same information at the same time. I think thats fabulous. No