For future Public Offerings. Plus, the infamous biotech ceo Martin Shkreli was back in court today. He now faces eight counts of fraud and conspiracy to commit fraud charges. He has a trial date has been set. Well have the latest developments from the courthouse in just a few minutes. And larry kudlow has bold plans in a Federal Reserve restructuring, the whole thing. He says janet yellin and everyone else should be thrown out. Find out who he thinks should and its not larry. He doesnt think himself should be at the helm here, but he has some ideas about who should be. Coming up. Lets start with Jpmorgan Chase earrings beat. Kayla tausche is standing by on the floor of the stock exchange. The stock has been up close to 2 all day and it is really boding well for the rest of the banks as well, having a halo effect, not only on the other big Money Centers that still have to report, but also on visa, after positive data on credit card spending from the bank. That was just one data point am
Steady. Road map on a busy day for earnings including apple, coke and boeing. Apple surging in the premarket on the sfwheets more from the dnc. Less discord from inside the convention. President obama, joe biden and Vice President ial nominee tim kaine are on tap to speak today. Another tough quarter for twitter and jack dorsey, the stock plunging after results disappoint. What happens to the company next. But first up, apple shares are surging after the Company Reports a beat on the top and bottom line. Revenue did fall for the second straight quarter. Iphones saw the steepest sales decline year on year but that number was less than what the street was expecting. Analysts expecting an uptick in iphone sales when the new 7 is released later this year. Revenue guide not too bad. Jim, cost control, margin guide, okay. Yeah. I think there are probably people at home saying how could they have a huge decline and the stock run. The answer is in the number of iphones that they sold a lot of
It all, the dax, the ftse and frances cac, all up this morning as you can see britain not, perhaps, with the uk, at least for now the uk. Maybe not that much longer. The 10year, there it is, 1. 57. Only a few weeks ago we were below 1. 4. I know. We have moved up. Oil at 44. Didnt think we would take it at 45. Inventory at 10 30 today. Lets get to the rest of our road map this morning and it start with more fireworks from the Republican National convention as we kick off day three in cleveland and carl, of course, as we said is there live. Shares of Morgan Stanley up in the premarket on earnings. We will dig into the numbers. Also ill be speaking to Ceo James Gorman later in the show this morning. And roger aisles future at fox is in question. It appears he will be leaving the network he founded after the Sexual Harassment claims. Were going to give you the latest details and what does it mean for 21st century fox, the company. But first, lets get to carl in cleveland. Carl . Hey, good
Youre new to me. I love it. Were going at it. Great to have i hear you like a lot of stocks i dont like. Were known were known to like a good debate on this show. Good. Were ready. Lets start with mcdonalds. Jimmy, go to you first. What do you make of the selloff in mcdonalds today for a stock that has had a tremendous run . Look, easterbrook one of those guys like a head coach. Just, literally, i dont know why, but we felt this was a trap game. Some of us felt it was a trap game. Felt he was set up by pokemon go in japan. Stock runs up to 128. Knew he didnt have anything new, new initiatives, but i dont think people realized there would be a moment where technology didnt kick in hes talking about theyre going to do and theres a weird restaurant on wii. So in japan, set up, and then, wow, trap game. Ah you know . Pete, you were long. Owned calls . And still own them. I probably should be cutting them off. To be honest, scott, after the run, i wonder, pushed down a little while. Dissect
France the leader in terms of at least downside. The 10year note yield you ask, show you where we are. 1. 54 and crude is, of course, one of the key parts of the story here. It is up, but yesterday started up, and ended down. Took us with it on the broader markets. It would seem oil once again starting to core core late with the market overall. We will be watching it closely. Lets get to our road map this morning. And were going to start with Hillary Clinton. Getting a big endorsement from a major gop player, meg whitman, as the hewlettpackard executive calls donald trump a demagog. Time warner takes a 10 stake in hulu and the company raising its outlook, Strong Quarter, stock up on the news. We will give you more. Aig shares up nicely after that company beat earnings estimates. Helped by lower expenses. Announcing a 3 billion increase in its buyback. By the way we will talk to its ceo Peter Hancock later in this hour. There you go. Because that is the biggest upside surprise to them.