Well as eric jackson of Spring Owl Asset Management and an outspoken critic of management teams, including yahoo and viacomm. Earnings in revenue beat expectations. A big win for Ceo Jack Dorsey who, of course, runs two companies. The stock of square down more than 20 so far this year. Prior to todays move. I did speak to dorsey last quarter about the path to profitability. Square has been a very strong and really predictable business for us. And were really happy about that because we feel like we have a real understanding of how the business grows and what it takes to move it forward and can really understand what to do next. Predictable, of course being the keyword. How much of a victory is this quarter for jack dorsey . Short term its a great victory, longterm its a problem because square catches mass of competition from everywhere. And not only is card readers now, you have apple pay and new infrastructure. A lot of new technologies that could be developed that could really hurt t
Consumer related stocks. Check out shares of ford and gm, both sinking. Plus check ott the retailers like nordstrom and macys getting crushed today. Is the stock market telling us the consumer may be tapped out . I dont think so. I think first of all, retailers have all bounced since may, so maybe the sell off, its often oversold condition. We had a nice bounce, but the auto stocks have been lousy for three years. Think about it. You have in my opinion, the best vir environment in the last maybe 50 years. The stock market is basically tripped. If these stocks have gone sideways to lower over that period of time, you have to ask yourself when is the right time the own these stocks. Weve had this conerer sags for a while, so i think the autos tell one story. The reteailers tell a story, bu i dont think you can say the consumer is dead. Well, ill tell you, the auto sector is the most concerning. I look at auto nation. Mike jackson was on cnbc back in january. Said 2016s not going to be a
Founder phil liven. Our top story, shares of netflix are getting crushed, down about 14 . Second Quarter Sales were you will, but the good news stop there. Only 160,000 new customers signed up for the service in the u. S. In its most recent quarter, well short of the 500,000 estimate. And then the Third Quarter guidance came in well short of expectations. Im guessing this does not get the yumyum, as you like to say. Yeah, no yumyum here. Theres a lot of headwinds for netflix on the pricing front. They added theyre taking out some of the people being grandfathered, i guess thats resulting in less people renewing, but the good news is theyre making more money with this higher pricing, even with the fourstream plan, theyre still only 12 a monday, 3 less than hbo. What i like to look at with this business is obviously quarter to quarter, according to Reed Hastings on the earnings call. I look at, you know, how bingeable are these shows . I dont know if youve seen Stranger Things but this i
Good morning and welcome to World Wide Exchange. Oon cnbc. Im sara eisen. Good morning from me as well. Lets check in on the global markets. U. S. Equity futures after a mixed session yesterday that actually managed to close positive. Looks like the gains continue this morning. It is a busy day in terms of kbhik data and earnings. Dow futures up 48. S p up 5. Nasdaq futures up 31. As for the 10year treasury note yield, it is fed day. Day two of the decision. Well expect that in the 2 00 p. M. Hour. No news conference, but of course traders will be pursing the statement the 10year treasury yield sitting prefed, 1. 57. Still very low. Stimulus talk from japan today. Check out the japanese yen which is falling. Pre pressured on more expectations of further easing. This comes among reports japan the government will unveil 265 billion of stimulus in a passage. The move according to the reports is an effort by shinzo abe to reflate and stimulate the economy. Though the amount the japanese go
Now. Good morning and welcome to World Wide Exchange on cnbc. Im sara eisen alongside don chew. Lets check on the Global Market this is morning. Breaking the nasdaq winning streak we saw some raem declines yesterday in u. S. Stocks and looks like the selling continues this morning sort of in a marginal way. Dow futures down 20, s p down 3. Nasdaq down nine. Wall street cover story leads with a earnings report. Big Companies Like mcdonalds and starbucks. Whats interesting again were talking about a market thats been down like you said seven straight days. We havent seen any pri siptous drop. Were not seeing any kind of panic. Slow and steady. Decline for stocks in the u. S. As for the 10year treasury note yield weve seenle it around the world starting in japan the last 24 hours or so continuing into the u. S. , 1. 53. Some selling pushing yields higher. See how we go. Big government jobs report on friday. Absolutely. At least with the european side of things, the germ dax off t. The cac