The road map begins with ibm, sales falling for the 13th straight quarter. Ibm not the only stock were reporting on this busy weeks this week. Mixed quarters for vz and united technologies. And facebook the company overtaking overtaking General Electric in market value. Ibm, sales down. Adjusted earnings did beat but the performance of the traditional and software dragging. Earnings hurt by the strong dollar. And they expected a slightly stronger currency impact. The cfo is calling the results a reflection of where we see longterm value in i. T. This will take some time. I think one of the things that happened that was wrong were ibm was that the stock ran in anticipation this would somehow be a breakout quarter. The cf so great. He made it clear it wasnt going to be a great quarter. I kept thinking what about what he said made him feel like this was the one. Software was not as long as id like. Backlog did grow. There were problems in brazil russia, india, china. I am not defending th
Good friday morning. Welcome to squawk alley. John fortt and i are back, joining our sara eisen once again. Good morning, guys. May nonfarm, calling for 184,000. National quick director gary cohn spoke to squawk on the stre street earlier this morning. When you look at how many people we brought back into the workforce and you look at the u6 number, the fact that its down since inauguration day, were clearly bringing people back in the job force. That said we want to continue to grow the job force and the president has talked about that. Thats why were so focused on tax reform and infrastructure. We believe we have to create a better and better job market in the United States. For more on the number, the market reaction, we are joined by jp morgans chief strategist. David, ill start with you. On a weak number like this across the board, is it a blip, speed bump in the trajectory or a signal of a bigger, more worrisome trend . The good news is that its tight as a drum. The bad news is t
Im carl quint knanilla along w sara eisen technology is one of the leader sectors and President Donald Trump is on his way to meet with g20 leaders in germany later this week, including the oneonone with russian president Vladimir Putin all this amid growing concerns over north koreas growing tension. That escalated over the weekend. Joining us to discuss is john rutland, and math chthew mcgwir former director at the world bank welcome to you both. Thank you for joining us good morning. John, your expertise is china. You have studied china for a long time. We have been trying to dissect the tweet this morning, trades between north korea and china grew over 40 in the First Quarter. So much for china working with us, but we had to give it a try. That was from President Trump as he embarked on this journey. What is the prospect of a risk factor for investors escalating tensions between china and the u. S. The two biggest economic superpowers right now . They look like they are going that
We were talking about the fouryear anniversarile earlier in the week, kara . Yes, that is a disaster, and remember that . That seems so long ago. Yes, it feels like most people in Silicon Valley agree, it is the most powerful company, and cohesive management, and doing ip novations, and fascinating m a, and hitting on all cylinders except for the recent conservative backlash from the trending area, but from the stockholders point of view and investors they couldnt be happie happier. And kara, this is ap al year ago. Yes, it could. Absolutely. This is a little different business, because that is a hardware business really, and it depends on the latest hot topic, and people are vested into facebook, and they have their lives there, and the Facebook Live video is pop ular ashs son ta have to keep innovating like other company, and cnbc and like anybody else, you have to keep innovating to be relevant to the consumer, and so far so good for the consumer. We will see if they supplant it wit
Welcome to squawk alley for a wednesday morning. Im carl kwinquintanilla. After a rocky start, donald trump named the republican nominee for the 2016 president ial race along with running mate indiana governor mike pence. Governor pence, the headline speaker tonight along with harold hamm of continental resources. Eric trump, speaker gingrich and others. A lot of unity coming together. The republicans argue as we had some members of trumps family speak last night. One thing to watch out for tonight, senator ted cruz and whether he has a fullthroated endorsement of trump. Primetime coverage on cnbc at 10 00 p. M. Eastern time on whats already a busy market day, too. Yes, indeed. Thank you, carl. Taking a look at the market. The dow is up about 44 points. S p up nearly 10 and microsoft certainly leading the dow, kayla, up 6. 3 . Cisco right behind it. Worth noting, the fact were currently set for nine Straight Days of gains on the dow. The nasdaq hit its record high one year ago. Its sti