Sentiment in about an hour our road map begins with amazons rough quarter, reporting its first yearonyear profit decline in more than two years. Shares down 6 ahead of the bell is now the time for investors to get in plus, turnaround for the chip makers intel delivers a big earnings beat demand far outpacing production. And the case for wealth taxes. What lloyd flablankfein says he be willing to pay higher taxes for. Lets start with amazon, though. Earnings miss, disappointing Holiday Quarter guidance weighing on the stock as the company ramps up spending on oneday shipping amazons earnings release, jeff bezos said, quote, customers love the transition of prime from two days to one day theyve already ordered billions of items with free oneday delivery this year its a big investment, and its the right longterm decision for customers. Weve been down this road before and their track record, jim, historically is pretty good on this yes, i think that theres a perception that they were down
Investments ever. Were closing in on new records in the markets, this amid new optimism for that potential china u. S. Trade deal as you saw stocks are set to open higher. And the tech lash heads to the states a major multistate investigation into antitrust practices at google, set to be announced later on this afternoon. David, kick us off on t. Interesting here. In so many ways. 3. 2 billion as you said the stake from elliott, the largest single investment i believe they made at the company, a long letter comes out this morning detailing the reasons why this could be a 60 stock within lets call it three years or so, 2021 is what theyre talking about. 65 or so upside to todays stock price. They believe 5 in dividends and 55 stock price, you could get to 10 earnings per share grower with significant margin improvement, what theyre calling for. And buyback. Something i want to make sure people understand here, it is interesting, people who know the company well, but sort of are vaguely
Overall number in the law, the budget control act, requesting basically a little bit over 1 trillion. 1. 1 trillion as the law allows for. Within that number, he really departed from the budget control act numbers, and he requested a lot more for defense programs. About 54 billion for security related programs. And covers that with an equal amount of cuts in nondefense spending, 54 billion. So thats a violation of the budget control act there. But more than that, its very politically unpopular. Yes members really like the , defense spending increase, but they dont like taking it out of nondefense programs agriculture cut more than 20 . Transportation, federal housing programs cut 15 . Labor, health, Education Programs cut similarly. State Department Programs cut tremendously. And congress is rejecting that. They dont really have their own plan nailed down. While they are inclined to give a lot more to defense, they are not as interested in those nondefense spending cuts. It matters of
Industry and this gathering. Reflecting back on the days of catv, and forward to the broadband era, is to trace an amazing path from Community Television to the expansion of television, and now beyond to broadband. You deserve congratulations for what you achieved as cable companies, as Video Companies and as network builders. You also deserve Straight Talk about what it means now that you are first and foremost broadband companies. You have pledged as an industry to assure that the internet remains open and free. In that goal, we are in violent agreement. We do differ on what that means. We part company, according to your recently filed motion papers, over the socalled internet conduct standard, the requirement that Internet Service providers not engage in conduct that impairs an open and free internet. And goes beyond the obvious bright line rules of blocking throttling, and paid prioritization. The internet conduct standard is the Going Forward rule. Often people say to me, tom i kn
After that, derek wall bank of bloomberg looks at a future trade legislation. Your phone calls, facebook comments, and tweets. Washington journal live at 7 a. M. Eastern on cspan. My city in a tin can far above the world planet earth there is nothing left to do sunday night on cspan q a a veteran astronaut produced many activities on the International Space station as your scientific and personal aspects of life in space. The only time i for a shiver of fear go up my back was on the dark side of the earth looking at one side of eastern australia in the darkness and watching a shooting star come in between me and the earth. At first i have the standard reaction of wishing upon a star, but then i had the sobering realization that was a huge rock from the universe going who knows . It missed us. If it hit us, it was a big enough one you could see it. Sunday night at it 00 eastern and pacific on cspan q a. Leaders from the cable and Telecommunications Industries recently gathered for the a