Again. Bob iger joins us in a few moments. Apple looks set to continue. But Merrill Lynch adding insult to injury. And tonight tesla and fitbit coming out. But first up disney reported better than expected earnings. But they were hurt by slowed growth at the International Theme parks but still up more than 20 so far this year. And well have an exclusive interview with bob iger in just a few moments from now. Jim, you were up very early reading through the quarter, reading transcripts, i assume. You said today is the bears day. Well, i think a lot of it is selfinflicted pi disney. They gave a prediction which was a high single digit projection for cable. Its about 42 of their business and they missed the projection. When you set a benchmark and you underperform, even if its not as important as other things, you have to take the pain. And theyre getting punished for that. But lets find out. I mean, he certainly knows more. And for joining us is bob iger, lets go to it. You gave us three
Bill ackman taking 5. 5 in mondalez. Those subscribers worries that originated with disney. A trio of stocks tesla, Green Mountain and fitbit, hit hard. Our top stories are mondalez shares spiking. Bill ackman disclosing that 5. 5 billion shake in cadbury. They welcome Pershing Square as investors and will continue to focus on executing our strategy as we look at another sector where mass sick consolidation is the play. We have been through airlines and health care. Now, it is food. We can remember that nelson felts has a 2. 9 stake. I have to turn to you, david, with more than 10 being held by you. I have to expect that. Thats got to be the expectation in terms of the play for ackman jim. You and i have talked behind the scenes about what it was going to be. I have been chasing this for some time as many have. I have probably put on alert more bankers than we know about. I thought, what could it be what could it be . I dont think any of us would have expected it would be mondelez. The
It will have erased the gains of the year. Courtney reagan has more on whats exactly happening. One trader i talked to said there is no one sudden catalyst. Just a lot of things were seeing thats making this a be generally riskoff trade. If weve broken through sew key Technical Levels. Specifically on the s p 500. The next level we are looking for is 2,067. Well see if we break through or hold above it. Consumer discretionary, health care, telecom are the biggest drags. Energy is actually higher and crude oil which continues to fall. Despite all the retail news and movers in the Consumer Discretionary names weve been uk talking about it all today, 7 of the 15 performing stocks in the s p 500 are media stocks. It is kind of due to this reinvigorateing talk about cord cutting. If you look at the s p media industry, a subsector group here, having its week since october of 2008 when it lost almost 22 . You can see by that chart was level, then the steep falloff. One consumer discretion yae
Expected to hold steady at 5. 3 marking a seven year low. Again the report will be released at 8 30 a. M. Eastern time and its one that the fed is watching very closely. The last jobs report before they try to decide if theyre going to raise rates in september. Welcome back. Thank you. We talked a lot about those rates. Weve seen lockhart say theyre going to do it. We had powell on who said still data dependent but a lot of people swinging toward september. Yeah, you called this awhile ago. Well, Wishful Thinking that they quarter point, you know . You can do it. You can do it. Its not going to nothing is going to happen. You can do a quarter point. Im going to talk about the markets now because were going to focus on the jobs report and i decided that im kind of glad that were cnbc and Business News. Im still thinking about what i saw last night, what i witnessed and i want to talk about it but im glad we can talk about real other stuff, you know what i mean . It was fiery. It was row
Reaction. Plus on media week selloff, subscriber losses, advertiser declines weighing on companies. And the morning after well recap the gops best debate moments last night, the big winners and the losers. First up, the jobs number. The u. S. Economy added 215,000 jobs in that month. Unemployment remains unchanged at 5. 3 . Weve been watching wage growth average Hourly Earnings up by five cents. Thats about 2. 1 on the year. Just a smidge below the estimates. The Unemployment Rates, 5. 261 is not far from being rounded down to 5. 2 . Coming into this, i think a lot of, you have this core set of economists saying you dont need a strong number. You need a weak one to put it back. The interesting question for the next couple of hours is how many stock Market Participants are there with those economists that a rate rise is coming. If theyre not there, notable monitors of sentiment, if theyre not there, if they make that transition, what will that mean for the stock market over the next mon