Giant. Plus, courtroom grilling the Trump Administration defending its use of executive power and the travel ban before a federal Appeals Court. Social medias in focus. Facebook and twitter getting some upgrades ahead of earnings tomorrow. First up though, a bunch of earnings to get to, time warner a beat on both the top and bottom line. Alaska air also beating the street announcing an increase in the Quarterly Dividend ahead of the meeting with airline ceos at the white house tomorrow. Big report focused on is disney, revenue falls short of consensus, rising costs as we said, declining viewership at espn weighing on the results. Here is bob iger last night talking to our Julia Boorstin. I think theres way too much pessimism about espn because espn is still in demand from three constituents you want to be in demand the most from, one, distributors, two, consumers, and three, advertisers. And the reason its in demand is the brand is still strong, the product is still good. Weve invested
Fargos ceos compensation went up despite the sales scandal that shook the bank. We have more details on that controversial story coming up. But we start with the budget blueprint the white house ingave this morning. You can see the percentages there. Hes calling for cuts, meantime, at the Environmental Protection agency and the departments of state, labor, agriculture and commerce all in the range of 16 to 31 . We have full Team Coverage on which stocks stand to gain and lose the most from these proposed changes. Kayla tausche taking a look at infrastructure. Meg tirrell looking at pharma and health care. We got some glimmers of what the white house wants to do with infrastructure. Its proposing to end several projects. The governments proposing steep cuts to infrastructure heavy agencies and their programs at agricultu agriculture, cutting rural water program. And a billion dollar budget cut at the defense departments corps of engineers which maintains inland water ways like dams and
Military strength. And some signs of a not so roaring economy. Retail prices are dropping. U. S. Futures now pointing to more or less a mixed open. Shares of eli lilly are tumbling more than 5 in the free market, failing to receive fda approval for a new Rheumatoid Arthritis drug. Stocks are looking to bounce back after the dow and the s p ended the holiday shortened week with the worst day in three weeks. And retail sales slowed down for a second straight month. We have geopolitical concerns and the Vice President is sending north korea a message during his visit to south korea. While issues like that remain the president and i have great confidence that china will properly deal with north korea. But as President Trump made clear just a few short days ago, if china is unable to deal with north korea the United States and our allies will. Got the dollar today at a five month low versus the yen. People going for safety. We mentioned gold getting near within about 2 bucks almost of 1300.
November. Ibm is set to weigh down the dow today. Notching the 20th straight quarter of year over year revenue declines. Plus, a border tax replacement. The white house considering a elimination of state and local deductions needed to pay for tax cuts. Some drama at 21st century fox as advertisers flee. Reports that primetime star bill oreilly is now all but out. It would be the third major departure for the network in the last year. Ibm bills down sharply in the premarket. The miss on the quarterly revenue overshadowing the sales beat. Down for 20 straight quarters. Ibm had an 11 quarter streak of opening lower on earnings. That was broken last summer. Now appears to resume. Yeah. Look, this was a kind of quarter where they actually didnt close certain business anded that they closed and had they closed certain business, you know what, things are on target. The Gross Margins are not done as much as they were. The signings are surprised that they did misit miss it. We accept it for qua
He was here when you were out one day. Andrew was out. Antimatter and matter together. Were both gentlemen. Okay. After another down day yesterday, its been five out of six down sessions for the dow and the s p 500, it looks like things are turning around in the early hours. Right now dow futures are indicated up by 43 points. S p would open up, so would the nasdaq. Overnight in asia, the nikkei ended flat. The hang seng was up by 1 . Shanghai was flat as well. In europe, as france prepares for elections, the cac is higher by 1 today. The dax is up as well. Ftse slightly lower. If you check out crude oil prices, this was the big story yesterday. After a slide of 4 yesterday, things are picking up this morning. You can see wti up to 50. 79 a barrel. American express posting better than expected q1 profit. The positive results helped in higher spending by card members i feel like our family helped them there. Amexs guidance indicating it was starting to mitigate some impact of losing key