tv Street Signs CNBC April 29, 2016 4:00am-5:01am EDT
hello everybody. welcome, you are now watching "street signs." happy friday. >> these are the headlines. >> equity markets starting last day of april on the back foot. still on track to close the month higher. >> a day of reckoning. karl icon tells cnbc he's extremely cautious and says he no longer has a position in apple. >> scaling back growth plans. the owner of british airways
warns on demand. >> and first quarter losses at rbs more than doubled last year with restructure costs expected to exceed 1 billion pounds this year. ♪ >> hi everybody. good morning. welcome back. >> it's great to be here. finally. >> flew in last night. >> i did. from wolfsburg. hanover to frankfurt to london. but a good four day in germany. it was good. seven months into the volkswagen crisis. but i think finally there are some indication they are seeing a light at the end of the tunnel. still a great deal of uncertainty in the u.s. >> and it's friday. >> it's friday. that's good news. >> the lot of stuff going on. just starting off on a slight back foot. on top of that also just to
mention with regards to our asian markets that japan is on holiday because we've seen a lot of volatility from the currency, especially the yen. we'll get to that in a second as well. the european markets. the main european equity markets. a little lower. similar story down by 1.5% so for the dax and the cac 40 and the stock 600 on the month. i can't believe we're at the end of april. >> hard to believe. this year is flying by. >> says we're higher some 2% or so for the month of april. >> especially for european equity this is month. really playing catch up this year. . the u.s. higher but not that strong. we want to look at the top earnings movers. just talking about volkswagen. getting results from the luxury line. porsche stock off.
today the net profit coming in at 1.4 to 2.4 billion. that is forecast for this year. that would compare to a net loss of 273 million just a year ago. liquidity of interest here as porsche is under the volkswagen unblah. they expect net liquidity of 1 to 1.5 billion by the end of year. and really interesting. when we heard from the ceo. i was at the press conference. they were saying yes volkswagen is losing market share largely due to the crisis, also due to some concerns in the market conditions but on the high end. porsche, audi still strong in the u.s. and also other stuff.
>> it is interesting with the vw holding. and he also has a buy on the -- >> on volkswagen a very bullish call in the range of 200 euros. barclays, their price target not as high but they did upgrade simply on the fact now that we have a u.s. fix and agreement in principle there is more certainty and clarity and volkswagen can get back to the business of restructuring. >> they are holding onto the stake, but might be now you see a turnaround. >> now could be the moment but also i think the call is down to the fact that the stock is still off almost a quarter since the scandal broke. so the worst fears over litigation expenses are already priced in. other earnings in focus here today. iag saying it will moderate capacity expansion. however the owner of british
airways did beat expectations in the first quarter with higher than expected profits. >> rbs has posted a wider first quarter loss as the british bank struggled with lower income and higher restrshing. however results also showed net interest margins stabilizing and loun growth. >> and first quarter profited dropped 8%. still the symptom motock moving. meanwhile the petro chemicals division slumped 36% on lower prices and volumes. the german company stuck to its full year forecast. >> and dansk bank is maintaining full years earnings guidance. ceo explained earlier how the bank was dealing with negative rates. >> denmark is a special situation.
we have a currency bard you saw last year the big focus on protecting the krona. when there was pressure on it. we are now running very negative rates. over the last 12 months in the dansk bank accounts you have seen obviously we've had to deal with that. and -- it is not something we have a specific political view on. i agree we're seeing sluggish growth across a number of key markets. and there is a question whether negative rates are having the effects that it should have. >> karl icahn. it appears when he speaks the markets listen. telling cnbc he sold his entire position in the company. that sent shares sharply lower but also weighed on broader sentiment. he was once among apple's
largest outside shareholders used his appearance to explain just why he decided to sell. >> what i'm saying is i believe china is a great turnaround story innite but you could -- but that is the risk. you could look ahead and you might find three, four, five, months trying to, you know, an apple, a great together and then it becomes a no brainer again. the real thing i worry about is the relationship and i really don't know much about that relationship. so it makes it more difficult for me. >> huge move. in terms of the change of who's holding the shares. >> and we watched icahn's words for so long. so for him to say i'm out. >> he started buying in the third quarter of 2013. at that point $68 per share.
at one point he was holding 53 million shares in the company valued at something like $2 billion. and makes a point about china. taking us back to march. they passed that law that all content has to be stored on servers based in mainland china. as a result of that they then had to shut down their ibooks and i -- in kind. but if they can't get china right from the beginning. >> and i think the demand side in china as well. concerns the market is saturated but also the competition, the lower end models. we've got mark holton coming up. i want to ask him.
is cheap now? >> and -- >> i know. maybe when everybody else sells is the time to get in. >> what are you do? e-mail the show. "street signs" europe @cnbc.com. the show is on twitter. @streetsignscnbc. coming up on the show. weak oil, weak ruble yet high inflation. will the central bank will standing pat on rates? we've got the central bank decision later today. we discussion russia and the central bank in a bit. you're watching "street signs." lovely friday. see you after the break.
good morning. and welcome back to "street signs." we want to bring you some comments coming from the swiss national bank chief. they continue to be in focus throughout the week. once again we have the swiss national bank saying they still have room to maneuver. they will consider further unconventional methods with jordan, saying that the swiss franc is still significantly overvalued. about 1096 is the level of the euro and he's saying despite negative rates we've had success. however the currency is still overvalued. and that is the message we continue to hear from central banks around the world. they stand ready to act if need be. >> analysts remain divided ahead of russia's meeting. stuff will be on hold at 11%. some signs suggest the bank could be open to a 50 cent cut.
something something something. good morning peter. what do you think they will do? >> i think they leave rates on hold at this meeting. i think it is rather likely we're going to see a rate cutting cycle start or begin. i think it is a little early at this stage to see one. if you listen to the commentaries from the central bank they are very much about maintaining the stability. they have seen that since the beginning of the year which is good --. but i think they will need to see a little more further inflation declines before they cut rates. >> inflation has gone from 16% down to 6% is what the cbr expect this is year. you are saying 8%. >> roughly. >> how would it look? >> i think there is a lot of room to be a fairley aggressive
rate-cutting cycle. there is definitely about 200 basis points worth of cuts which they can do. in my view it will be a more back loaded cycle so it will be 2017 story rather than 2016. >> -- ruble rates. largely tied to oil. are you convinced oil will go even higher? >> i wouldn't like to extrapolate. but if you listen to the central bank they are of the view that the improvement in the oil price is more with market sentiment rather than a change in underlying supply/demand. so they are a little more sangen about the improvement in fact the oil market. it's certainly been supportive for the ruble, no doubt. >> just earlier this week we heard from president obama speaking in hanover saying sanctions need to stay in place for the time being.
how is that factoring in? >> interesting enough, it's had a benign impact on inflation. the imports they are obviously not coming to the same extent. and consequently --. had a rather stranger effect than initially you would think. the question for me looking at the overall sanctions have they been effective. and at the system from the banking system has declined and tells you the systems aren't having the heavy impact that we thought they would. >> this morning, @real miracle 66 tweeted back. points out they are the cheapest market in the world at the moment. do you think that we are going to see fund flows heading properly back into russia, or is
it still to early again? >> i think in scope of currency you can do well. that's largely repricing the fed. you can get 10 year bonds in around 9% in local currency. and if you think you have seen the worst then 9% yield is pretty decent i would say. so no reason why the recent performance can't continue. i think it should can't. >> and other central banks a lot of surprise over the bank of japan this week. what do you think they have up their sleeve next? >> i don't know. but then i think they don't know either if i'm blunt about it. i think they did some stuff up the path and in a strong manner. the problem the japanese have is the more they do this and the longer is they really dues credibility with markets. >> wait and see mode to see what the fed does. because the latest meeting.
it wasn't you could argue anymore clear. >> no. about clear as mud really you would say. >> i think to my mind really on the fed, they left the door slightly open for a june rate hike. but i still think it is rather unlikely. in the sense that if we were to get a rate hike. look at what markets are pricing in in june, july, they really have to come out and start talking in a an aggressive sort of hawkish manner to pre prepare markets and i can't see them doing that. >> the ruble doing well year to date in total return terms. and looking at the interlinked currency plays, and especially when seeing the yen take off the way it has. the impact on broader currency markets, are we going to see more of an impact given the volatility? >> we've seen fairly substantial volatility declines.
mainly speaking because we priced out this fed rate hiking cycle. the interesting thing on funding currencies, you know, if you are talking about carry trades and so on. is managing funders are the appreciating at the moment. so the euro has appreciated a little bit and japanese yen and swiss hasn't done a lot. we've seen investment carriers outperform but the funders have been more troublesome. >> they have been pretty well already. or is it going to be switching out? >> i would say another month or two they will do reasonably well. latter part of this year i think they will price in fed rate hike in 2016/17. >> what is your take? >> short dollar brazil. basically long dollar brazil should start to do well. >> better bread with water than
cake with trouble. >> ooh. >> like that one? >> -- cake though. >> -- [ inaudible ] >> tough one. >> we'll bring you the decision live here on cnbc. stay tuned for that. >> meanwhile earnings, first quarter not profits for sanofi rose by 6% on the year. the french drug maker says it hopes medivation will constructively engage in deal talks after it made an unsolicited $9.3 billion bid for the company. >> astrazeneca have dropped 12%. that was in line with expectations. as it comes under pressure from expiring patents. revenue inching up by 1% thanks to the sale of rights to certain medicines. >> and posted a slight beat in first quarter operating profit on sales which were broadly in line with expectations.
but the pharma cut its forecast due to currency moves. >> we basically had a negative impact from a number of the emerging markets impacts. and also the full year a slight decline in the u.s. dollar will be a drag on earnings in 2016. >> -- of $1.2 billion. -- >> and italian oil company eni reported a 790 million euro net loss in the first quarter. on weak crude prices. and claudio joins us in the milan with the latest. what is new in the latest release here. >> since 2014 the oil prices
have been weighing on eni. in 2015 it reported actually a profit of 617 million. the situation in terms of bottom line is worsening. adjusted net profit also came in at 69%. the loss there was reportedly 2 million. the consensus loss was 220 million. so they missed there as well. productivity did grow by 3.4%. but that's lower by something from last year. and the profit fell by 95% to 73 million. the consensus was operating profit of 22 million. they did beat but that was a strong decline. they are working on the sale of
chemicalunit. they did also say they are confirming their guidance for 2016. the stock took a hit in the beginning of the session. now trading in positive territory ever so lightly higher. back to you. >> have a great weekend. another earnings report out of porsche. the luxury brand say they expect to swing back to profit in 2016 and they are undeservedly committed as vw's annual shareholders. volkswagen's ceo once again apologized for the company's diesel emissions scandal saying "the rules were broken and boundaries were overstepped and" and saying how sorry they were for that. in the meantime saying he was quite satisfied with the start to 2016 and that vw is "instead
of stepping on the gas." . i asked him something about 6.2 billion or whether they could go higher? >> what we know today it is the right figure. we have taken everything that we know into account at the present time. when it comes to technical retrofitting and possible fines. i cannot entirely exclude at this point in time that this amount might not be enough. >> you mentioned that you are looking at partnerships for the e mobility drive. are you also in discussions with other oems when it comes to sharing some cost? >> there is a wonderful example, we purchased nokia here -- the map service. and we are in discussions with
particularly the german partners in terms of infrastructure and we're talking to ford to make headway there as quick as possible. >> can you really afford a fight with the uaw at this time given volkswagen's issues in the united states? >> well this is not just a matter of our approach but also of the uaw. we've already expressed that we will not be -- preclude such voting. we just want to prevent that the work force is divided so any holistic solutions, we're open for discussion to that. >> and you had two minutes to speak to president obama and had the chance to apologize about the scandal. what did he say in response? >> he accepted my apology.
and he encouraged me. to continue the discussions with the authorities in the u.s. successfully. and he also encouraged me when it comes to the future in the u.s. >> well it was interesting. i've had the chance to speak to the ceo of volkswagen three times in the seven months. and it was clear management did seem more up beet. as you said there are still some unknowns with the u.s. they dodged a lot of questions on the technical fix in itself. >> they are paying people in the u.s. are they doing the same in europe? >> basically said do not expect compensation in europe because the standards are very different in the united states. they don't feel they owe anyone
compensation in europe since they are able to fix those cars. but on the u.s. fix it was still uncertain. i asked the very nature you have this buy back. they said we can't even discuss that due to the fact that it's still being held up in the courts. >> vw sees progress in china saying the best start to a year since they entered the market. a look at china's great hope for electric vehicles. >> han just bought his first vehicle ever. an electric crossover. complete with 15 thousa$15 thou incentive from the government. incentives for china have helped them become the world's largest supplier of electric vehicles. many are built in shenzhen by
the company byd. >> it is easy to see why consumers would buy a byd. they are the largest in the country. >> by 2020 there will be 30 million electric vehicles running in china. so at that particular year, 2020, there will be 10% of the new sales car will be electrical. >> occasionally you see teslas in china but not many because they are imported and have hefty tariffs. as much as china's government wants to cut pollution levels by having people drive electric cars, there are challenge, including places to charge in congested cities. >> chinese consumers live in large apartment complexes not in stand alone homes where they can more easily have a charging solution. so one of the conundrums for the
buyer is where do you charge it? >> not a concern for han who is -- another big stock in focus this morning. and jeff is standing by in zurich awaiting and joins us from inside the room. >> we are a couple of minutes away from the start of this agm. and if you look onto the stage you can see that they have now taken their positions ready for this event to start. and if i just walk 'round here you can see hundreds and hundreds of small investors who have come to this agm credit swiss to talk about payment and performance and they want to hear about what the management has to say about the current pay and compensation package for 2015.
welcome back to "street signs" and a very happy friday. i'm nancy hulgrave. >> i'm louiza --. your headlines this morning. >> europe is still on track to close the month higher. >> carl icahn sending market into a tail spin stateside after telling cnbc he's cautious on u.s. stocks and no longer holding a position in apple. >> owner of british air waits warns on demand. >> and amazon delivers.
>> good morning. and welcome back to "street signs". jeff cutmore is there in the room at credit swiss. walk us through what you expect. >> the chairman of the board has starts talking here and making the general introductions right now. and of course one of those people on the stage is the ceo of this business. but the honeymoon is over. he's been here some ten months
and during his tenure the share price has underperformed ubs and it's underperformed the kwurpurn markets as a whole. so the shareholders hear want to hear about performance and what to do to get the price moving again and also what he has to say about the pay and compensation agreements for 2015 and the pay for the outgoing ceo because probation groups in the united states have raised their concerns about the opacity in this package. and earlier we spoke with robert mccormick. he's advising shareholders to vote no. let's hear. >> the disclosure is quite limited. they held themselves to a standard of global investment banks. and big investments being paid. they lost a considerable amount of money.
and you really don't know how they got to some of these decisions. in terms of the design of the awards going forward they look good. but in terms of the amounts they grant in performance at 2015 seems quited a odds with the full performance of the company and you don't know how they got there? >> this lump sum of over $21 million which is going to be paid to 5 managers. now the frustration i think here is not only that the share price is underperformed but it is not clear how payments will be made to the five managers and i think that is what a lot of shareholders would like to hear at the agm. and that is clearly what -- would like to hear as well. >> jeff, brakes have been put on executive payouts in the past from the company. do you think that is a given that we're going to see it this time around because they have
tended to back it in the past? >> what we do know is because of the weaker performance one has said he'll forego 40% of his position. and we continue to see other stuff. as a result of these ultralow interest rates. we'll find out at the agm just how the management board feel about the concerns that are being suppressed by the shareholders. so i think we'll probably wrap up at this point and send it back to you and listen to what the chairman of the board has to tell us about how this event is going to run. >> thank you.
live from zurich. >> and we'll bring you some flashes as they come out of there. we are getting at the moment perhaps a pre release saying the bank's financial performance in 2016 will continue to be restructured. the markets yesterday. ugly close, call it the carl icahn effect right now. the s&p 500 called higher by less than one point. the dow jones by 5 points. and the nasdaq 17. it is the last trading day of the year. and that index up just .8%. it is the nasdaq however that investors have seen some disappoint in. as you can see on the month the nasdaq the only major loser
there off about 1.3%. we did see some strong tech earnings we'll get to in just a minute. but concerns over apple and the shear weight it has in overall tech indices there. >> the ftsi off about .7. the xetra dax and cac 40 both lower and the ftsi mib by .6%. overall a solid month but on the last day of the week and month we are off across the board. >> we are indeed. if i say -- what do you say? >> tigers, lions. >> puma. -- plus their women's business will help overcome the impact on the strong dollar. the puma ceo on the line.
good to have you with us this morning. first quarter profit and sales slightly below consensus. confirming cautious outlook for 2016. why the caution? >> -- hello. i think we said at the beginning of the year we were looking at -- sales growth. coming from the time when the brand didn't do really well. where we are and where we should be and -- >> what are you doing to offset this very strong dollar? >> a combination of many things. of course in the european market there are price increases we do to try and get a little bit in trade. and we try to be efficient in the way we work. there have been a couple of things, raw materials because of
the weak oil price have actually become cheaper and transportation costs, shipping products have gone down. so there are some positive effects. but it is hard to keep your gross margin. and we have said we'll be trying to keep ours flattest for the year and are working hard to achieve that and we did achieve it in q1. >> the factors effecting not just but your rivals. nike threw in a cautious outlook as well. your top german rival -- is forecasting double digit sales. is some of this down to product mix? >> yes. we are coming from a low base and have to work our way up again.
but it is very new and we need some time to get good distribution with the trade and strong -- and we feel we can also gain momentum. we take one step at a time and feel that high single digits growth is good this year. >> and just mention s rihanna. can you give us an idea exactly what you pay for rihanna's contract? >> no, i cannot. ha ha. i think there are certain celebrities in the world that are commercial but -- is very involved in what we do. and she's very valuable for our corporation. with other celebrities we'll have different campaigns pushing part of the products. athletes in certain instances of course. in soccer and in running. you say in the olympics it will
be a great thing for us. and on the lifestyle side, people also see you. local celebrities. in china and korea. and celebrity, it is important in today's world and today's media where things are being transferred very quick they are a very good way of communicating product, directions and messages. >> bjorn, thank you. ceo of puma. back to the campaign trail in the united states. never a dull moment these days. john boehner didn't hold back about ted cruz. lucifer in the flesh. i have never worked with a more miserable --. allowed his inner trump to come out. tracy potts is joining us.
from nbc news. tracie some strong words from the former speaker of the house. what does this say about the fight within the republican leadership when it comes to the presidential race. >> you have to wonder if boehner could coalesce behind someone like cruz if he became the nominee. here is donald trump trying to get the republican establishment. those on capitol hill, behind the scenes and in the republican party behind them. while some may have a distaste for trump. clearly some may have more of a distaste for ted cruz. ted cruz is already fundraising off that lucifer in the flesh comment from john boehner. sending out an e-mail trying to raise an e-mail with supporters based on that saying that this is the tone in washington and that we need to turn things
around. what we are seeing right now is a big focus on indiana, which is the next state to vote, coming up of course on tuesday. not a lot of ground separating donald trump and ted cruz. with john kasich agreeing to be out of the picture. but interestingly still on the ballot. and kasich is now speaking out about the fact that he even considered dropping out of race after his big losses this week. but he doesn't want to disappoint his supporters. and of course we're also watching the democrats where interestingly bernie sanders who's behind and really trying to figure out if he still has a path to victory here. he's now turning away from attacking hillary clinton and attacking his party, talking about what they should be more aggressively going after like automatically voter registration, perhaps setting himself up to be a major player and a big influence on that party platform this summer. >> thanks for that one tracie. and never a dull day with that presidential race.
carl icahn now saying he's bailing on apple. that news sent shares sharply lower. but also weighed on broader market sentiment. >> connecting with investor. linkedin shares jumping as profits beat forecast. revenue also outpacing expectations. shares are down by around 50% over the course of the last year. tune in later. a first on cnbc interview at 3:00 p.m. cet. and amazon powered past expectations for the first quarter. among the stand out performers with revenue rising 66% on the year. the company also gave a rosy
outlook for the current quarter. joining us for reaction is market halten. just as investors were losing their faith in fang. here we have amazon. >> what excited me most was that the performance was driven more by improvement on the retail side than the amazon web services business which is what we've come to recognize as being the key driver of the moment. so there was a billion dollars of additional sales relative to expectations all coming from retail. >> still cloud revenue was extremely strong. and this after we saw concerns over parts of the revenue at microsoft. how does this figure position amazon against competitors.
>> approximately a $10 billion run raid and microsoft has about $2.5 billion and google a distant third. amazon is dominate player. grew that in the first quarter. it is the fastest growing -- business in history. >> how can they grow that rate? >> particularly interesting when you figure amazon started as essentially a book seller online. and its drive to produce the bex infrastructure for its own business, it's come up with the best infrastructure for other people's business. and can now attack a opportunity in cloud which is --. >> based on that do you think the stock has room to grow here? >> i think it has a lot of potential. and we have to remember there
will always be tricky quarters but the opportunity over the long-term is astronomical. >> and you own it is th? >> we own it. >> what's pushing retail ahead. >> they had a slight acceleration in growth because of the prime offer. a 50% increase in prime users last year. that then starts to drive official growth going forward. because a prime user buy about 2 to 3 times more units then a non prime user. there is always an amazon box in the hallway, every day. >> do you think we're going to see more structural changes to the company given they now have very different divisions under the amazon umbrella. >> you have to look at adamazon now as the tech company. deutsche bank will over take --. then 4 or 5 fiems more profitable. as the technology company. not a retailer.
>> set of results yesterday. very strong. is it enough to put doubters to rest given the dramatic selloff we saw at the start of the year. >> >> as the start but they really need to do quite a lot more. the beat there was driven more by the lindher acquisition. hiring growth did o drop off. but it is a good start. and if linkedin can become the enterprise social network in the same way as facebook is the global social network. the upside is very substantial but they have a lot more to prove. >> apple and carl icahn selling out of his stake. >> personally i don't think it is that significant. at the end of the day he is a trader. he came up with some outrageous
assumptions to put the $200 out there and get everybody excited. he's now seeing what everybody else is seeing. growth is slowing. there is saturation and question marks going forward? >> is it china? >> i think china is kind of the excuse why he's exiting. >> lets give you a look at crude. and exxon and chevron get set to report.
a lot of questions coming out of thi this. he's come out saying that -- is the ideal ceo to lead the forward. a lot of investor have been questioning. nevertheless we've got expected to comment on the share price in recent months. also saying results from the investment bank have manifested in poor performance for the fourth quarter of 2015. [ congrats you can read fast ] and the performance of the wealth management business in 2015 was good and remains strong
during the first quarter of 20 is a as well. and want continue to give you updates. >> it was down about 3%. obviously investors look in the comments not just on --. >> energy stocks. they have enjoyed a rally of late. how are 2 major oil players going to be doing when they report earnings later on today? we've been through the technology sector. the bigger sectors. now it is the time of oil. >> absolutely right. we actually kicked off in terms of the big oil names with conoco yesterday which traded down by about 1%. particularly because of guidance on future spending plans because of the oil price. shares of both have been on a role this year. up more than 13% since the start of the year. the street is looking for exxon to post earnings on revenue about 48 billion dollars. earlier this week the credit
giant lost its aaa credit rating. having to reduce borrowing costs in order to keep up with programs. chevron also expected to report. a nearly 40% slide from the same quarter a year ago. another number to watch, free cash flow. last quarter it was negative $3 billion. and of course with all of these energy companies is guidance and expectations on the oil price for the year ahead. of course we'll be much better if they were reporting in the middle of the quarter. at the moment u.s. futures are bang on flat. the dow and s&p are bang on flat with the nasdaq expected to open down by about .2. >> great to see you wilfred. and have a nice weekend.
meanwhile here in europe the euro zone finance ministers are set to meet on may 9th. one said we are 99% of the way there. however still working on con distincti tingsy measures. >> in comments to a spanish newspaper he added that pushing rates further into the negative territory does remain an option. negative rates have been very effective since their introduction in 2014. senior analyst from dansk bank market is with us. >> investments are paging up a bit. and more banks are willing to
lend out. and something that's been supported. >> however inflation is still a problem. another negative reading coming out of france. awaiting the data in the euro zone in just a minute. >> we expect a negative print again today and that is also what we've seen in france, german and spanish figures coming out. we do believe -- will go down 2.8 again. so a --. we have very subdued pressure in the --. >> do you think it is going to continue? we keep hearing we are going to hit the 2% level in inflation at some point and that's been pushed out for year after year after year. when are we going to start to see proper rises in inflation? >> we do believe that base effects will lift inflation. we did expect that last year as well. but with a much higher oil price
now. there are signs that this will kick in this year. we'll have to wait to the end of this year. and we still believe that compared to what the ecb is expecting, they are too optimistic. >> you are staying with us for the data. -- >> crucial every time we talk about the ecb's rate plan. stay with us. we'll have that breaking in just a minute after this short break.
amazon shares soaring after the e-commerce giant blows wall street expectations. >> a crude climb. oil prices jumping 20% this month alone. now more than 75% above their 2016 lows. >> plus the world according to carl icahn. he tells cnbc why he no longer has a position in apple. "worldwide exchange" exchange begins rights now. ♪ ♪ >> good morning and welcome to "worldwide exchange" on cnbc. i'm sara