And we hear from the viagogo chairman and founder after that stubhub cash deal from ebay. First, our top story. Five years ago, alibaba pulled off its biggest ever ipo on wall street, and today, it rang up the biggest share sale in hong home in hong kong in 10 years. The listing is being seen as a triumph for a stock exchange. Stars toyears it lost u. S. Rivals. This comes as prodemocracy protest have gripped the city for weeks. Joining us from washington, john freeman, Vice President of Equity Research at cfra. If you take a look at the company raising an additional 11 billion, where do you see that company in terms of that use of cash . Thank you for having me. It will be interesting to see what they do with the extra cash. I think that brings them to about 43 billion in total, 21 in net cash. I would like to see them invest more heavily into the Cloud Business, which is 8 of revenue now, it was growing 64 yearoveryear growth in the last quarter. We have seen this movie before, how t
Trailing it, microsoft, about 50 for the year joining us, ted smith, cofounder cramer likes to say apple is the key to the market. Do you agree i do. What about it is so important . I think the breadth of technologies they deliver to consumers and enterprises over time, and the fact in the latest cycle where they come out with apple pay, apple card, all of the partnerships theyve got going, in addition to core products, theyre so dominant on so many fronts. Getting investors familiar with new fronts has been a bit of a challenge this year, feels like were getting there, wouldnt you say the thing we talked about is slowing of iphone sales. The dominant apple story of the last decade is actually coming, that chapter is over they have to transition people to things like subscription services, streaming is one of the big wars payment, theyre doing more retail things now. With apple credit card, i think as a new chapter opens, were seeing more and more stuff like that. You talk about apple
The week. Right now there are more than a dozen fires across the state. The largest is the kincade fire in the north bay. And here is the latest numbers. We know the fire has burned more than 54,000 acres. Containment has dropped to 5 . 94 buildings have been destroyed and another 80,000 are threatened by flames. Firefighters now believe it will take at least until november 7th to contain the fire. Thousands of schools are closed today because of smoke and the ongoing Power Outages. In fact we have a full list on nbcbayarea. Com and also run those on the bottom of your screen right now. And we are tracking new evacuations overnight in Sonoma County as the fire continues to spread, today in the bay Sharon Katsuda is near windsor and giving us different vantage points all morning long. What do you see now . Reporter that is right, laura and marcus, were here off of pleasant avenue new thought road where there was an active fire a couple of hours ago and behind me there are still some fla
Trade deal, and also expectations for another Federal Reserve Interest Rate cut all pushing most markets higher. Lets talk about the global oil giant, bp, announcing its latest results in the coming hours. Its the last set of numbers for current boss bob dudley, who revived the company after the deep water horizon disaster left it on its knees. Deep water horizon. However, big challenges await his successor, with growing climate concerns leading many to question big oils long term viability . Public opinion is arguably turning against the sector. The Royal Shakespeare company is ending its partnership with bp at the end of the year, saying it could not ignore the strength of feeling against the deal. Meanwhile, in the us, exxonmobil is in court fighting a claim that it misleading investors about the potential costs of climate regulation to its business. And Climate Change is arguably already having a measurable impact on the industry. The number of big Institutional Investors, like pen
Intelligence individual. And, in india, however company is to capture the ecommerce market and in coming years. To our top story as the trade ceorages on, seems like the might be making progress in getting the president s ear the f phone calls. That is what via phone calls. That is a President Trump told reporters. He is the one that called. That is why he is a great executive. Others go out and hire very expensive consultants. This one called donald trump directly. I would take their call, too. He calls me whenever there is a problem. Emily pto discuss this and mort to welcome kathy wood. So great to have you here in the studio. What do you make of tim cooks approach . I think this is good news for apple, for technology. Emily the president has the night some of apples formal requests to give a tariff reprieve on the mac pro, for example. How much do you think these tariffs are actually going to impact apple given that starting september 1, we are supposed to see tariffs on air pods,