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Welcome to squawk alley. Im Carl QuintanillaMorgan Brennan has the morning off. What a morning it is too beginning with major tech earnings four big one, twitter, amazon, alphabet and intel and intels ceo bob swan will sit down with us as we look at potential datacenter recovery, pcs and unbelievable characterization of what china was like last quarter. Yeah, surprising mix, the pull in from people freaked out about tariffs actually had some benefit, sounds like, for the pc business, of course, there were some problems there as well but interesting stock action this morning. Intel actually a bit in the red this morning it had been up as much as 4 , i believe, at the open and near there. Up kit a bit afterhours and amd higher than intel which is an interesting dynamic that ill want to dig into but, you know, beyond just intel, you have lots of different earnings story, peop ....
In the u. S. , which we had to reduce our tax asset, reducing completely our tax level in the u. S. , with Significant Growth of our net profit. Swiss re says it is considering a partnership with softbank after better than expected profits and returning more cash to shareholders. We feel comfortable that we have the ability to return funds to share hoholders. And a number of negative earnings limit cap gains in europe as James Bullard tells cnbc that rates should not go up too quickly. The idea that we have to go 100 basis points in 2018, that seems like a lot to me thats price for perfection. Everything would have to go just right. The economy would have to surprise on the upside a bunch of times in the year im not sure thats a good way to think about 2018. Good morning flat open so far across europe the stoxx 600 slightly into negative territory, but not by a massive, ma ....
Good monday morning. Welcome to squawk alley. Were at post nine john fort is live at one market in San Francisco what a morning, guys, for the first day of the second half of the year not only is the dow set a record high, transports setting the first record high since the beginning of march but you have the ten year at 234, above levels that they said were critical. What does this say the dow, the transports, financials, its coming to some degree at the expense of the big cap techs. Seems like a first of the month effect june if you remember, june 1st, market was up. 75 you have the 2430 in the s p 500. You closed june below. That it seems like a rush of money. People looking for that rotation to continue into july. Does it count on a shortened session . I it this prices count do we have a majority i dont know exaggerated on some level in term of the magnitude of the lift especially after the open certainly got our attention well ....
Million subs, compared to that guidance of 2 million. The company beat up earnings in revenue. Reed hastings last night talking about competition on the call. We had a great couple of years at these price points and theres a lot of competition entering the market. Were focused on increasing value by having more spectacular shows so that people watch more of netflix. Lot of analysts are struggling how to value these guys. Is it a cash flow story . Is it a mushy hit maker story . Whats your take on this . How do we know what where its going to go. People were short the stock yesterday. Obviously were seeing major shortcomings. Carl, i think youve actually frame this had correctly. This is an unbelievably difficult company to analyze quarter to quarter. I have a rule of thumb, never bet against netflix or Reed Hastings. That said its extremely difficult to forecast whats going on here. Essentially the u. S. Has reached some kind of ma ....