From Raymond James to get his quick take on the street Google Properties revenue, thaep thats the properties the company owns and operates, 19 to 28. 7 billion that was above what kessler was looking for. Operating expenses were higherx. Ruth porat said there were some unusual items and pointed out 545 million expense related to a legal settlement in france also called out some unrealized losses tied to certain venture investments, although she declined to say which ones switching gears a bit, i asked her about competition. We just heard from amazon. Their ad business is growing very strongly. I asked her how much of a threat she thought amazon was she thought the online ad market continues to grow and her point is it doesnt have to be one winner, its not winner take all. I asked her about wamo as well the team at Morgan Stanley cut their valuation by 40 in part because they said the industry is moving toward commercialization slower than expected i asked ruth porat whether commerciali
Road map begins with the curse of the unicorn uber under pressure again. We have that softbank disaster after the funds wework debacle. Masa son saying his investment judgment was poor. Hp rallying ahead of the bell, the target of a potential takeover effort by xerox well start with uber. Shares facing more pressure after hitting an all time low yesterday. Company reports another billion dollars in losses as you know and the post ipo lockup period is expiring, freeing up a billion shares for trade the take among some is the shares are so underwater, maybe the expire doesnt mean as much. I dont buy that reasoning. I think that what matters on the conference call, they committed to losing money. Now they committed to making money in 2021. The patience level is lost here. I think this is one of those stocks where you say why do i need this, i can buy i can name ten other stocks and the kinds of stocks that are going up are value stocks, this is the ultimate of what youre not supposed to b
Beyond meat. Ten year 1. 83. Caseshiller up 3. 2 year on year road map, record watch the s p at the all time high dow and nasdaq not far behind. Streaming wars, hbo max, details coming today david is live in los angeles ahead of the warner media investor day and some tough questions for boeing what to expect as Dennis Muilenburg testifies later today. Well start with the markets, a day after the s p hits the 12th all time high and the 14th record close of 2019 jim, halfway through earnings season here. What does it all mean . I think you go back and i was going back and looking at some of the big Billionaire Hedge Fund managers and what they have been saying and almost in unison said, look, you got to be very careful. It cant last. Numbers can go back to the negative the companies arent letting it happen the companies, for the most part of, the Biggest Companies reporting great numbers. The classic one is merck last week, merck got hit down to 79. 80. Bristolmyers, a cocktail, that was
The british Prime Minister Boris Johnson is Holding Strong on brexit. To delay he tweeted today quote new deal delay. Eal, but no earlier the Prime Minister had promised to send a letter brexit if he couldnt get a deal with the European Union by october 19th. And johnson are set to meet later this month at a theyt in brussels where hope to be able to sign off on an agreement. Deadly clashes continued in iraq today. Forces opened fire on hundreds of antigovernment demonstrators in central killing one protester. Shiite clerictop warned both sides to end the violence. The violence has killed more than 50 people and injured hundreds. Global news 24 hours a day on air and at tick talk on twitter, than 2,700more journalists and analysts in over countries. Im mark crumpton. This is bloomberg. Live from bloomberg World Headquarters in vonnie quinn. And live in toronto, im lang. Welcome to bloomberg markets. Were joined by our bloomberg audiences. The top stories were following from around the
And more importantly what you should be doing or not doing around it. We begin with big breaking headline shares of Johnson Johnson are higher after an oklahoma judge ordered the company to pay 572 million for its role in the National Opioid crisis however, that number, 572 million, far less than some expected meg tirrell is live outside the oklahoma courthouse where that decision was handed down less than one hour ago. Meg . It may not sound like a positive headline but j j stock is not reacting that way the judge found Johnson Johnson accountable for creating the states opioid epidemic, saying it created a public nuisance but they were ordered to pay 572 million. Now, the state had asked for 17 billion over 30 years. Now, that 572 million accounts for one year of what they call an abatement plan to try to fix the Opioid Crisis here in the state. Theyre saying here in the 42page decision that the state didnt provide sufficient evidence of the amount of time and cost necessary beyond y