Meeting. Policy announcement coming up at 2 00. In global news chinese stocks rallying overnight. This morning snapping the threeday losing streak. The shanghai composite closing up 3. 5 . Big growth. In europe greeces stock market will not be reopened today as some had expected. The exchange is waiting for an okay from the ecb and government decree. Thats 6 or 700 points. Huge. Stocks to watch this morning, twitter earnings and revenue are both above estimates but it was the Monthly Average user number and it grew at its slowest pace since it was public and that is accounting for a pretty substantial selloff today. 32. I dont know the last time it was there. Jack dorsey this weird beard, calls this unacceptable. Have you seen the beard hes sporting . I have. Its like does the not pass by mirrors . People dont talk. He has a lot of yes people. Yeah it looks good. Yeah, it looks good. I like that egg yolk. Right here. More of his comments and reaction from analysts in just a few minutes. Shares of yelp also dropping sharply. The consumer website posting a surprise loss in the Current Quarter revenue view was far below street expectations. In other news yelp chairman max lynchman is stepping down. Shares in gilead getting a boost. The hepatitis c top sales estimates. Earnings also beat the street and the company is raising its full year sales. Stocks to watch part two. Part 2. Part 2. So many stocks were watching today. Got to split it up. Buffalo wild wings, the earnings falling short of estimates. They were hurt by higher labor and chicken wing costs. It is giving the stock a boost. The stock is up by 9 . Get this we have the ceo sally smith. She will be joining us on cnbc at 7 40. Remember the last time we said where are the wings . I dont smell any just yet. There will be wings. We ate too much. I dont know. What did you eat yesterday. I eat more after . You did . Yeah. Really its weird because you hear ritz carlton. You would think they would have good croissants. And they did . Yeah champaign, too. You drank champaign without me . Were winning the j. D. Power thing again. Winning again. And also beating the last record on a scale of 1,000 points higher or so. Like you need an excuse to drink champaign and eat croissants. Maybe mimosa. I got an email from the trainer, a picture of us eating. Wait a minute what trainer . He has a trainer. A guy. Where did you get a trainer . This pushup thing hes not mine. We didnt talk about it. I did the urban mudder over the weekend. I didnt know that. The cousin. He was on our team so the entire team saw us eating the croissants. They were not impressed . No. The urban mudder. Only requires 30 pushups . Thats it . That doesnt sound 5 1 2 miles. People that live in the city. Okay. City dwellers. City dwellers fat, happy. Let me tell you about another few stocks to watch. Iac interactive beat the streets. They say more users signed up for the dating services. The paid version of tender outperformed expectations. Last month iac said it plans to float 20 of the match group. Panera shares going higher. Restaurant sales were a bright spot. Picking up in the quarter, its up by 8 . Looks like there will be deal news this morning. Bell gum Chemical Group solvay is buying u. S. Rival cytec for 7. 25 in cash or 2. 5 billion in total. Cytec makes composite and adhesive materials for the aerospace and auto motive industries. The products are used by mining companies. In tech news microsoft rolling out windows 10 today. Free for windows 7 and 8. 1 users but if you didnt reserve your copy already, dont get too excited. Microsoft is upgrading in small groups. Windows 10 designed to let users more easily work across platforms from mobile to desk top. In p and g land the appointment is effective on the 1st. David favor caught up with lafley last night. David has a broad away of experience around the world, a cross our businesses and he delivers consistently. And thats what were looking for. Someone who cooperationalize strategy with excellence somebody with a real track record, somebody who is an outstanding leader that people will follow. P and g will report quarterly tomorrow. And jon moeller will join us. Lets check on the markets this morning. The futures as you saw earlier up a little bit, 30 40 points 35 points right now. Great session yesterday. Almost 200 point snap back. Still below the december 31st close on some of the averages. In europe looking at it on the way in a little bit mixed. Responding positively to the nice move that we saw in china. These markets also bounced back yesterday. Theyre higher but you see up a point, half a point, 3 4 of a percentage point. The asian markets, the one on the bottom. 3 1 2 up. 8 1 2 on monday. More than 5 on tuesday. Up 1 on tuesday and then closed down 1. 7 . Weird story in the journal today that whats different about chinas response to all the turmoil is that theres not a Single Person that you can point to. We had bernanke. Hes the guy that was leading our efforts to keep the market higher, the stock market higher now that i think about it with his quantitative easing and then mario draghi right. Is now keeping the markets up in europe. Then they just did like a they have like a guy that doesnt have a face for china. Yeah. Hes like a shadow guy. This is not, by the way that person is different than the birka person on the cover of the post. Thats gisele getting some type of surgery on her breasts supposedly. Really . Shes in paris with her sister. You didnt see this yet . No. This im interested in. Why, because gisele forget the headline. You can see the business news. Why would she need any cover up . Shes perfect. She doesnt need anything. Inside this is this is not good. Hold it will. Cloak and sager because apparently it was to no. No. No. I dont believe that. I dont believe that either. In the new york post. Exactly. Well, my point, you know getting back to what i was saying, this whoa. We have welcome. Youre a guest here. Youre a guest here. We did it. Julia, i did this. I have time. All the way across the table. At least it went that way. Off the table. Anyway this person is get it all over this week. That could be gisele. Thats a different thats the person that anyway. But we digress. They dont have anyone in china spearheading. I dont believe this joe, the gisele news. I just want to say. And ill tell you why. Would you like to go i want to expand on this. How is it you think whats in the birka . You say this is the country with the best doctors in the world and if you are going to have if youre going to have work done, youre going to come to the United States. You talked about this. The Health Care System in the United States, the best surgeons, best everything. Except she asked to pay in euros. You were going to come back to that. Yes. Besides, if youre going to recover somewhere after surgery. Nice place to do it. Paris. Lets get back to twitter. Shares doing a dramatic about face after beating on the top and bottom line and they plummeted. Jewel boorstin is here. Absolutely. It was quite a wild ride for twilter. First shares surged on better than expected numbers but then quickly gave up all of those gains on the Earnings Call after guidance about major challenges to growing twitters user base which added 2 million new users to the core service. Cfo anthony noto warning that twitters problems with stagnating growth wont get better any time soon. To be clear, however, we do not expect to see sustained meaningful growth in maus until we start to reach the mass market. We expect that will take a considerable period of time. Interim Ceo Jack Dorsey said hes nod said with twitters user growth and he is working on better communicating twitters value. On the up side notice he says its 1 3 where the companys longterm potential is and theres plenty of room to grow and add advertisers. It wasnt enough to reassure investors spooked by stalling user growth. We need to do three things one, we need to ensure a more disciplined execution. Two, we need to simplify our service to deliver twitters value faster. And, three we need to better communicate our value. So certainly a lot of work to be done for twitter and really a lot of talk on the Earnings Call about how theyre not happy where things are right now in terms of the product, in terms of how its marketed. Julia, stay right here. We also have an analyst joining us on set to talk about this. Victor anthony is here. Victor, i think whats stunning is looking at user growth that basically didnt change. 302 million to 304 million, thats growth of less than 1 . Its phenomenal to see a new social Media Company seeing that much growth. What happened . To be clear, better than expectations. Expectations you were thinking it was going to be less than that . Expecting that users would have declined. Thats why he stopped falling earnings. The comments were subdued, borderline negative. That in itself the idea that you can sit and not grow in your user base thats kind of phenomenal. They need to describe their value better. Hard to over estimate or under estimate when youre looking at stagnant growth. Yeah. Its a problem. Investors are punishing the stock for lack of user growth. Engagement decline from last year. Thats an issue. Also talked about all of these different product launches and iterations that they announced and talked about it at the analyst call. Nine months later they talked about all of the product launches failed to drive user growth. Thats a big issue. Now they talked a lot about how they have this new project enlightening. Overhaul of Twitter Service coming in the fall. They made a lot of little changes since november that havent had any impact really as weve seen. The question is do we think that a project overhaul in the fall is going to change the game for twitter . Is it going to make it something thats now a very valuable service for a small group of people or make it something mainstream . The confidence in that working is no longer there. Thats probably why youre seeing the reaction in the after market. Which i think is a little bit overdone by the way. Investors are losing confidence. Now maybe product enlightening would work. Talking about a Marketing Campaign in the Fourth Quarter to get user growth to drive the user growth over the next several months. Well see whether or not that works. We have to wait and see. Thats probably why youre seeing the stocks. Is it worse to be running the company . Know i think they need to find someone else to come in. Do you want them to remain independent . One of the questions is whether you get through the fall still wondering about whos supposed to be the ceo. If the numbers dont improve and somebody emerges and says look well take you out now and call it a day, that they would take that deal. I think thats highly likely. That is highly likely . It is. Is that built into this stock price . Its not. Its not. Someone may come in possibly google. I think google has failed twice in the social media efforts. I think they realize that they need a presence in social media. Thats what the time is being allocated to right now i think. Theres a new pressure to announce a new ceo. Twitter is not going to sell right now because they think theyre at the bottom and theres a lot of anticipation in terms of things turning around this fall third and Fourth Quarter. I think google would make sense but we shouldnt expect a sale at this point in twitters life cycle. Victor what price would it snake the company is a 24 billion market cap now . Anything in excess of 30 billion. If any company could do it google would do it. They have a responsibility to shareholders if someone were to come in and make an offer for the company. They have to entertain that offer. It sliejs a lot. 30 billion. You have an asset thats growing. Asset revenue 7 . I plan on being done with twitter in a year or two. Are you still sitting here . What else are you going to be using . Im not going to be using anything. Talking to people, going out, being outside. It seems like twitter has proven its useful for 300 million people. Right. The question is whether it can go ever grow anywhere does it matter though . Can you make those 300 million users very valuable . Yesterday they did say they think theyre only at the third of the level. Monetization, they can grow. Wall street wants to see if it can be at the level of a facebook. I can buy alcoa for 13 billion. Twitter. Why does everybody have to be in social . Google has the greatest search engine. Its a verb. Theyre up 100 points last time they reported. Why do they need twitter . Well mainly because thats where the time is being spent. Shifting over. You spend time going through meaningless comments from every Single Person on the planet and never an unspoken thought and then you dont ever buy anything or click on anything. Only 300 million. Never induces you to do anything. Well have to get you to sign up for facebook. No not on that earth. Short facebook too. Psychologically short. Advertising. Advertising is working on facebook. Working on twitter. See bird man . No, i still havent seen it yet. The daughter just yells at him, youre irrelevant. Youre not even on facebook or twitter. Youre totally irrelevant. It was like like watching geez i dont know. Victor thanks for coming in today. Julia, thank you. Nice to see you. Coming up only well get to you live. Only a week left until the first gop debate. John harwood catching up with new jersey governor Chris Christie. Well do that next. Before we do that heres a look back at this date in history. Ery Auto Insurance policy has a number. But not every Insurance Company understands the life behind it. Those who have served our nation. Have earned the very best service in return. Usaa. We know what it means to serve. Get an Auto Insurance quote and see why 92 of our members plan to stay for life. Welcome back to squawk box this morning. The first gop debate. Fox news is luring the threshold for an early debate. The candidates that dont make the cut for the august 6th primetime event will now be invited to participate in a 5 00 p. M. Squareoff. They needed to reach 1 in polling. Primetime debate is the highest in the national polls. They say this is a way to allow some of those folks who might not have made it initially in. You want to have a woman in. She may be able to get in. 1 . 1 . That is a lobar. Right. Talking about different percentages. New jersey governor and gop hopeful Chris Christie making the rounds. Thats where he sat down with john harwood for the cnbc speak easy series. The math doesnt support donalds position. He says i will make us rich enough that we dont have to touch those programs. Listen, my proposal is substantive and based upon the facts on the ground by social security. This is not just about growth. Growth is very important to every element of our economy. I plan to deal with growth but you still have to deal with the facts, john. You had an Interesting Exchange with a pro trump voter last night. You said donalds great at getting attention but he couldnt govern. You talked about the great line about the mexican wall. Is this another one of those things where you Say Something that sounds good and it simply is not possible and not true . Well when you do that it hurts the credibility of the presidency. You have to have some experience in actually difficulty in governing. As i said last night, donalds got lots of skills and lots of talents that have made him wealthy and lots of people around him wealthy. Thats a great thing. Not necessarily the same skills that are transferable to governing. And so you need to understand how you have to work with other people, how if you disagree with somebody you cant fire them. Not possible for him to be a successful president . I think it is much less likely for him to be successful than it is for me to be successful. I dont think it would be in the best interests of our party to have someone who i dont think would be an effective president to be the nominee. In the end, thats why im running. Now of course what weve seen is increasingly other republicans are targeting trump, even now Chris Christie who calls donald trump a friend. Donald trump has taken so much attention and oxygen in this race, everybody else is fighting for a place. Chris christie is going to be on that debate stage next week and hes counting on a strong debate performance to help him break through. The flow, did either of you order from flo, the waitress standing behind you looking on . She didnt like either she didnt like you, which i suspect, or she didnt like christie. One or the other. Maybe shes conservative and she said e oh, harwood. Do you know . No, she actually does not dislike christie. I didnt think she disliked you. I dont think she disliked me. I think she disliked you. Where were you . Lindys diner in keene and we had a nice conversation afterwards. We talked about the minimum wage. She was giving christie a side eye when he was talking skeptically about the 15 minimum wage and she said she actually agreed with him, that she thought it would cost jobs and be counter productive. She liked christie. She did not like you. Its very clear to me. She was a probably a right of Center Person and said oh, boy, who came into my restaurant . John harwood. The we we we had a very good time together. The whole staff of lindys was fantastic. Theyve had president ial candidates coming in. Ronald regan was in there, barack obama was in there. They like to say if youre going to be successful you have to go to lindys. You saw christies skills i know youve been with the governor before. You get him talking and thats why i you know, i wouldnt count him out. We talked about that. Unbelievable. He has very good political skills. Very good. I saw him the night before at a town hall meeting. He was getting a hard time from various people and just handled it very well. None of the signature, you know yelling exchanges or anything. But just he went on for two hours. It was charming. The funniest moment was near the end this one guy, he had been bearing with asked him for two bucks to buy a beer. Christie reached into his pocket and pulled out 4. He said, by the way, when donald trump comes here get 100 from him. We asked you about what it was really hinging on for him. For christie is it all about the debates and making sure he real