Welcome to squawk alley, im carl quintanilla, john fortt, sara eisen at post 9 with reaction from the interview with flannery thanks for spending extra minutes with you david faber, our colleague, is commended for doing exactly what hes done all his career, asked all tough questions. I was impressed with mr. Flannery, very impressed he did a bill parcells, Bill Belichick thing. He didnt need to tell you how bad it was and how the previous coach didnt do a good job hes focused on the future he used words i have said to him, you know, horrible, horrendous he was much tougher on ge than i was, and i commend him for that. And he will say he is underpromised that doesnt mean he can overdeliver initially, but i was very pleased i thought he killed it, frankly, i thought he killed it, and he made you feel that this was going to be a new broom sweeping clean, and i think thats just what has to happen, but Going Forward were going to speak about flannerys ge, but he has to take some tough actio
Quarter. The company also cutting its forecast josh, you were in this stock a long time ago. Youve since been out. What do you make of the quarter and whats happened with the stock . So, im not getting back in but i would tell you if youre looking to sell, make you already had that opportunity, im watching the canned. I want to see how she goes out, because when you have a stock thats down almost 10 premarket and it gains back as much as it has in that day, psychologically youre just thinking like anyone that want to be out of this thing may have already gotten out maybe we saw the worst of the news that we expect to see all year this. Stock has been downtrending into the news its not like its a shock, and i think the reaction is more important than the anticipation. Did you miss your best chance to get in . I dont feel like theres any rush, but its just like do you want to put shorts on now that all of the bad news is now they kitchensinked it and it was worse than expectations but if
The sfenate flaplan ylan reporter we dont have to rely on sources because the Senate Version of the tax bill is now officially out. Here is some of the key details. As weve been reporting, it would delay the introduction of the corporate rate cut by one year to 2019 however, it would get down to 20 and stay there permanently it would also limit the ability of companies to deduct their interest, but give them full and immediate expensing for five years. The individual side of the senate plan is quite different from the house version of the bill the Senate Version has seven individual tax rates the top tax rate is 38. 5 . The senate bill will also include a full repeal of the state and local Tax Deduction. Now, that gives them a lot of money to play with to do some other things in the bill such as keeping that 1 million limit on the mortgage Interest Deduction. The house version of the bill had lowerered that for newly purchased homes. The Senate Version of the bill it keeps it at its cu
Yales Robert Shiller with that today. Professor, welcome back. My pleasure. Your new survey says investors are the least bullish they have been since back to 2001 energy. Well, thats true but they were very bullish just several months ago so its kind of oscillating were referring to my oneyear confidence index. Yeah. Yale school of management publishes. What do you think it all means for where and how investors see where the stock market currently is after whats been a really strong year . Well, im concerned its not just the oneyear confidence, but its also the valuation confidence that both individual and Institutional Investors that we here at yale tabulate separately. They both have lost confidence in the valuation of the market most people are worried. Its the high price earnings ratio or i use the high cape ratio. You do have a weakening of optimism, and you have a concern about overpricing. Im not alarmist about that. Maybe i should be. I dont know one thing thats savings this is
Trump about how we could end up in a major, major conflict in his words. Did put some pressure, if you see the nikkei, down about 0. 3 . Same with the hang seng. In europe this morning n some early tlading, things are mixed. The ftse is down by 0. 25 . The cac is up by that much. The dax is up by 0. 10 . With crude oil prices this morning, looks like wti is still below 50. Up 27 cents. Tech stocks on the move this morning. After quarterly reports late yesterday. Lets give around up of whats going on. Amazon eps tops estimates by 36 cents. Saying revenue from the Cloud Business, advertising and Subscription Services helping to drive those results. Alphabet beating the street on both the top and bottom line. Strong ad sales sending profits up 29 , despite some advertisers boycotting youtube. And microsofts ref knew ju revenue just missed consensus. Sales of the Cloud Services platform jumped 93 in the quarter. Last but not least, look at intel. Reporting lower than expected quarterly rev