capitol hill facebook hashares down 10% in te past three months. the risks facing the stock all in on apple. two big price hikes. one, a new street high it s our call of the day microsoft earnings after the bell the stock outperforming all the fangs over the past one year the traders take their positions. halftime report starts right now. good to have you with us on this wednesday our investment committee, joe, stephanie, the brothers najarian we re going to monofacebook. a hearing going on on the hill there mr. zuckerberg another big dayfor earnings steph, you own caterpillar missed they cut guidance. china story. this is b about weak demand in china? well, it is, but nothing they ve said today was surprising and if you look at the sell and buy side, earnings estimates, they re around $11 so the midpoint rath eer is about 10:48 so it s not that much off. they destock $1.2 billion of invenntory in a year s time. i like the risk reward and the stock reaction is telling you
heavyweights cat cuts earnings outlook. boeing sticking to the timeline for the return of the 737 max. softbank s massive wework bailout. the latest deal details and the golden parachute for adam neumann. mark zuckerberg goes to washington we re going tostart with that pair of dow components, boeing erasing earlier losses despite a big earnings miss. revenues slightly above consensus. company still sees the 737 max getting back to service in q4. and then there is caterpillar, missing with quarterly results, cutting full year guide, hurt by weaker demand in china the first decline in quarterly profit since 2016. as they had sales down in every region which you just talked about. my travel trust owns it does that mean i m an idiot? no it means you have to take pause and say they continue to buy back stock, they said would no longer be episodic cash flow remains really good. i didn t think i could make this much money with this decline in revenues all that said, so what 40
within reach stocks set for a higher open bullard still sounding the alarm for the economy and manufacturing. apple s moment of truth, the iphone 11 hits stores globally will it move the needle for investors? and washington versus big tech, mark zuckerberg meeting face to face with some of his harshest critics on capitol hill, including a surprise trip to the white house s&p is aiming for a fourth straight day of gains as we wrap up the week. volatility could be in the mix, given it is quad witching friday you got two fed presidents making the case, rosengren thinks the fed should have held steady, bullard pushed for 50 basis points we ll see what clarida tells sara eisen in an hour. when you look at what u.s. steel said yesterday, i know u.s. steel isn t a big market cap what it said about the economy and steel case, very good, versus herman miller very good, big industrial just not doing well i think that it depends upon who you look at, like, i think bullard looks at
investments ever. we re 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 let s call it three years or so, 2021 is what they re talking about. 65% or so upside to today s 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 they re calling for. and buyback. something i want to make sure people understand here, it is interesting, people who know the company well,
number overall, 130,000 jobs added, that was 20,000 or 30,000 less than expected, at least, given who you were listening to. private secretator read added 90 job. participation rate up .3%, that s the high since 2013 hours worked rose .1%. that was somewhat expected it is at 34.4. so overall your reaction overall remains market wary, if you want a job, you can get a job. that s an amazing economy. 3.7% we got to get used to that what i m shocked at is that i hear people talking about what the tariffs would do, even previous show. look, when smoot holly came in, we did real big tariffs before president roosevelt, really tanked the economy, or was participant in tanking the economy, bank failures, this is not bad given the fact that the president drew a line in the sand versus the chinese. i wouldn t expect it to be this strong you can say, listen, mining lost jobs well, no kidding the country has gone away from mining but what i don t like to see frankly is a big spike in he