tv Closing Bell CNBC April 21, 2016 3:00pm-5:01pm EDT
where commercially they're right on the spot, but prince -- prince at that point he had made it commercially. that's when he wrote his time to do whatever he wanted. thank you for phoning in. john sykes. "closing bell" begins right now. welcome to cloib dloib, everybody. i'm kelly evans here at the new york stock exchange. >> and i'm mike san tolli in for bill griffeth. a bit of a pullback, about half a percent in stocks today. the defensive sectors getting hit the harders, those like telecom, utilities, consumer staples. >> only health -- after the bell, we get big earnings, alphabet, microsoft, starbucks, visa, we'll tell you what to expect. >> plus the dean of valuation will join us to explain why he
just bought valent irnts and icon prince has died, wee talk to b.e.t. founder be his impact around the world. the market seemingly breathing a sigh of relief on this today, julia boorstin will bring us up to day. julia? >> dish and viacom came to the deal in the 11th hour, this sending shares higher today. up now about 12%, the stocks now in the green for the year. analysts saying 14 million customers it could have been a catastrophe secure since the ratings happened in decline. now, in addition to keeping viacom's 18 channels on dish, this multiyears renew at includes putting the viacom content on sling tv's direct to consumer's skinny bundles.
dish shares are up not quite as much, but analysts say this could help dish grow sling-tv's subscriber for the skinny bundles. the fact these two sides did strike a deal did protect the tv bundle for a bit longer. mike and kelly, back over to you. >> and now to general motors earnings beat. phil lebeau has the story there. hey, phil. >> hi, guys, the story about general motors is one they had better than expected numbers on both of top an bottom line. take a look at what they earned 1.26 per share. well above consensus, revenue also stronger than expected coming in at $37.3 billion, where is the earnings power for general motors? it's all about north america, as well as china. north america, the company made 2.3 billion. in china they made a $18 million. in both instances, it's a matter of heavier demand when it comes to the high profit, trucks, suvs
and crossovers, that's why they're raking in record profits. in fact they did have record profits in the first quarter here in the u.s. don't forget, when you look at general motors and compare it with the rest of the market, they continue to lag like so many of the auto stocks do, and one analyst asked ceo mary barra am why not spin those off? similar to what we've seen with other companies. and gm's ceo mary barra said she has no interest in doing that. >> interesting, phil. we talked a lot about the fact that the bit automakers are not getting a lot of attention for those who don't seem to be willing to project. did gm have anything to say about what the assumptions are for industrial voluming?
near the top of the cycle and that we're not going to see a drop-off. when you look at the numbers and their earnings, they continue to grow, they already did that back in january for all of 2016. >> you know, phil, meanwhile, elon musk, tesla, those reports about doors not working, other parts of the model x, they've had some difficulties here with. >> yes, it's good news/bad news if you're following tesla. elon musk is over in europe. he was asked by a couple reporters, how are things going when it comes to the model 3. musk confirming what other tesla executives said. i think it was last week that they're getting close to 400,000 in model 3 reservations. remember, that means 400,000 people have put down threat a or
from consumer reports earlier in this week. they're questioning the early reliability of the model x, particularly the falcon winged doors. these are not your standard doors. there's a lot of complexity in there. they have sensors built in. they're not supposed to run into the ceiling or the vehicle next to them. some have reported as malfunctioning. when you look at tesla, the model examine about model 3s out of the way. >> and phil, i wonder he made comments to the journal, suggesting we put those behind us, you know, in the age of social media, every time somebody tweets that the doors won't open, we're all going to
know about it. are we confident that the company has solved some of these issues? >> it's early. so it's hard to know, and this is still a niche vehicle. look they haven't delivered a whole lot of these. you see these problems with all models of vehicles, but we don't hear about it. how many people get on twitter and say, hey, my chevy c are you familiar uze had a problem, they only do it about the tesla models or a high-end model. that's when they do it. immediately people jump on it and say aha, we have a problem with this car. >> yeah, well tesla gets the up side and down side of being a cult brand. >> yes, they do. let's get to our "closing bell" exchange. we have hank smith jonathan corpina and our own rick santelli. hank, let's start with you. you have a barbell approach.
now right now the market is selling off the defensive stuff and is maybe rotating toward the offensive stuff, so do you think both those things can work at once. >> the base case is in a 2% expansion, which we clearly have had and we expect going forward. that makes sense. not enough growth to overweight the offense, and there's very low risk of going into a recession, so you want some defense there, and you combine that, stocks with better than bond-like dividend yields and higher quality characteristicses, and i think that's the way to play this market. >> what about this market today, jonathan? we've been weakening all session, the dow is down about 100 points. what are you hearing? >> it's okay for the markets to go down. we can't have the market continue to trend up. it seems like the market has evaporate rated higher, so to have a breather like this that we're having today i think is healthy for our market.
plain vanilla institution participation has definitely risen over the last few weeks. i think that's most important of what we are seeing in our market here. after the bell today, like i said earlier, microsoft, alphabet, visa, big names, ge, honeywell. there's no economic data tomorrow and next week should be a robust week. so i think we'll see investors stay away from this market just for a little while, so they get a better sense of how they'll trend. as we start torts into other sectors, we'll see the true colors. >> rick, yesterday you were flagging these wild moves and a lot of different asset classes, and here we're seeing a bit more upside momentum. what is your read exactly on what we see driving things? >> you know, i think if you look at the fundamentals, and this is at the heart of your great question yesterday, all the things we're talking about,
industrial, metals, pressure, industrial commodities in general. does that bring about a change? let's be honest. deutsche bank looked like it was melting down, everybody was horrible, probably some phone calling going on. as a matter of fact, a lot of web sites that show records of, you know, central bankers talks, the world changed, everything happened. we know they have huge input and i don't think there's any coincidence. there's some backfilling going on after mario drawingi, but the real issue a lot of markets have a life of their own. in other words, i think interest rates can keep going up. i think that some of these commodities and the crb have made the turn. they're not going to go straight up, but the real question is, when i look at mario and talk to sources in europe, and i think about what's going on in london, i think there will be additional
capital flowing into the u.s. now it's back in their court. does this mean things are normal and you can normalize? the minute we hear that certain markets aren't going to like it. think about this, kellie, when we had all those horrible january numbers, everybody is talking recession, nothing really changed. those other markets are the same. i really believe that the logistics of certain markets will outweigh the fundamentals for a while when they get a life of their own because they were so compressed for so long. >> this goes back to your point about being the 2% growth economy. we're about to lap i think the eighth year of this expansion now, but the growth is still sluggish, appeared leaves us vulnerable to the scares like we winced earlier this year. >> right, there's not enough growth to cede traditional
excesses in inflation, in inventories, in over-employment that would lead to an extra session, but at 2%, you have to be concerned that an internal shot could throw you into a recession like we had in 2011 with the external shock of the arab spring followed by the japanese tsunami. but this economy is much stronger than in 2011, so i think we continue at 2%, and i think the mantra of lower interest rates for a longer period of time is clearly in force, and with that, the bull market continues. >> all right. thank you very much. hank smith. we appreciate that. we have just under 50 minutes left in the trading day. still a market left and dow down 108. >> and another tidal wave of earnings is heading our way. alphabet, microsoft and starbucks are front and center. so we'll break down the results.
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the dow is back below 18,000, down more than the other averages, in fact down 10 points. the nasdaq is down only by 3 points, so more or less hugging the flat line. underarmour rising on better than expected earnings. strong demand for apparel as well as larges for new running and basketball shoes, hello stef curry and the curry 2, they helped, in fact kevin plink called out stef curry. >> i don't know that you can bake it into the analyst models every year, but definitely a primy um on it, for sure. financials can typically charge more and possibly make more on rising interest rates environment, but not all financials are created equal. susan lee has more.
>> typically when interest rates go up, that's when banking can charge more money. we crunched the numbers, just to figure out who the winners and losers are when we're a quarter away. so let's start with the winners first. the big one is blackrock. so pretty good returns, and they trade positively, get this, 90% of the time. goldman another big gainer, and trading higher, two thirds of the time. bank of america, wells fargo, jpmorgan chase all beat the s&p over that time period, but as you said, not ought banks were made equal. includes citigroup, which only manages a mere 0.8% gain. in fact aig is also a big loser as well, down 1% in the quarter,
so not a great bet for returns if you're looking to go long on any financials. overall, banks, financials, typically and do traditionally outperform the markets. back to you guys. >> susan, thank you so much, our susan li. take a look at stairs of bb & t. the company reported earnings that did beat analyst expectations, and improvement and revenues led to the better than expected results. >> in a first on cnbc interview, we're joined by kelly king. talk to us a bit about the operating environment. on the one hand, you did show good deposit long growth, having to take at mor allowances on the energy side of things, how do things shake out? >> we think overall it was a very solid quarter, you know, our revenue was up 10%, our earnings were up 8%. you mentioned our price was down a bit today, but we're
outperforming, so we feel good about that. the actual operating environment is challenging today. we've got on a long-term protracted low interest rate environment. that makes it tough for bank earnings. the economy is okay, but not great. it's growing about 2%, so that makes it very difficult to get the asset growth you would like to get, but we're kind of settling into that, so i think we'll have it for a while. i think all of us have to adjust or operating strategies accordingly, and that's exactly what we'll do. do you think longer term you'll be able to have better returns on equity. >> i do. of course you know the primary reason the internal equity is
down because we've raised it more than twice since before the recession, coupled with a relatively tepid economy gets you relatively lower. over the long term, we think we'll have a better economy, a more naturally upward sloping yield curve and rationalize a lot of the cost we've been adjusting to. so i think we'll have better returns on the equity, but one of the things we have to all come to grips with is if you want the banking system to be well or over-capitalized it would be impossible to have returns. >> just briefly, kelly, would you put a target will on what you're looking for, medium to longer term? >> yes. if you're talking total equity, i would say that currently, you know, good banks are running about 10%. i think in the near term, we can get it up to 12% or so. over the longer term, they we still -- and where do
acquisitions fade into the strategy here? you completed a couple deals recently. how is the pricing and the availability of deals in the region look? >> we've actually done four deals in the last 18 months, and they've got extremely well. there is not as much activity as you may assume right now because of all the challenging operating conditions, but we still thing there will be opportunities, but we said this morning on our call that we are really focused right now on realizing the returns from the investments that we have made, so we're not focused on strategic deals at this point. we're focused on improving operating performance. frankly i think that's what most of the banks are, so we we need to really focus on existing efficiencies. >> kelly king, ceo of bb & t, thank you. about 40 minutes to go here. pretty much all sectors are on under pressure. the nasdaq the outperformer,
only down about four, five. alphabet and microsoft are the big games. we'll tell you what analysts are expecting. >> and coming up, we'll talk to black entertainment television founder robert johnson about the passing of music legend prince. man, i'm glad aflac pays cash. aflac! isn't major medical enough? no! who's gonna' help cover the holes in their plans? aflac!
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we'll keep an eye on things. the low on the session was minus 131, but pretty much we're steadily lower throughout the session. sun, edison, also filing for bankruptcy protection. the two-year acquisition bid driving the debt up $16 billion making it this year's biggest u.s. bankruptcy, mike. >> it shows the limits of financial engineering. they kept pulling the levers until it all ran out. >> a different one. >> we did report earlier today that music icon prince has died. he was 57 years old. >> let's bring in the founder of black entertainment television, robert the johnson who joins us by phone. welcome. great to hear from you again. >> thanks, kelly and mike it's a sad day. >> what were your authorities? do you have any more information that has been reported? >> no i don't have any more information that's been on the
tv, cable news. in fact i was flying down to west palm when i look at my phones on the plane and saw a crawl come across that prince is dead. it was shocking, unbelievable, because i didn't know about some of the prior illness that he had had and the emergency. and i sat on the plane and thought about, pulled out my iphone and started playing some of his opportunities, as i said, he was an amazing icon of music, a giant, a legend. he belongs in the same, you know, height as michael jackson. >> you know, robert, just to put him into a bit of context. i'm old enough, i was kind of a teenager when he was at his popular height. he came, recorded his own music, starred in a film early in his career. he crossed over. lots of different parts of the industry and the culture in a way you don't see that many
artists do. >> prince was more than an artist, more than a musician. he was a genius in his ability to take the brand and turn it into something universal. he had no boundaries on his music, whether he replied pop, rock and roll, whether he played blues. he was a perfectionist bar none in music. he also believed in taking his music into other entertainment venues. that's when he did the film "purple rain." his style of dress was something that sort of was a cultural shock to many people to see that kind of dress on a man who had that kind of raw energy of music and the guitar driving sound and the vocals. so when you put all of that together, he was absolutely a unique genius, but a real part
business guy. i remember the times i would meet with him, he was quickie, idiosyncratic, but he had a brilliant mind. >> can you give us any insight or examples into some of those meetings, when you're talk talking about strategy? >> the one thing about prince. prince was very -- i wouldn't say he was reclusive or whether that was sort of his style of trying to be special or unique, but when prince would come to b.e.t. and get off the elevator at my floor, he had a rule with us that we had to get and you have employees off the floor. he would dash from the elevator about 20 yards into my office, so nobody would see him. he would do the same thing going back. then i remember the time he asked me to come up to meet with him at paisley park. i went up there. prince had this thing on certain days hi staff couldn't talk to him, but look, and on other days
they could look at him, but couldn't talk to him. so i arrived there. not knowing which day it was, so finally after a while, they walked me to a room. now, i'm a business guy, ike expecting to be in a business office. i walked into a room and i survey the room. i look around. the only play that looked like you could sit down, there was a round bed, a square bed and a heart-shaped bed. i said to myself, i know prince, but there's no way i'm sitting on one of these beds. [ laughter ] >> so you chose the square bed? >> i just stood there. all of a sudden, prince appeared. there was a desk, so the typical kind of desk that entertainers use with all the lights around it, and there was a seat that he had for me to sit down, and we sat there and talked about everything when he put the emblem on his cheek, when he
decided he was going to take on warner bros. for his music rights. when he talked about things he wanted to do with opera singers, and he just -- we sat down there for about 45 minutes talking about business other than music videos and music. he was -- he was that kind of a genius. s the last time i saw him perform was at the nba all-start game. he is prince perform. it was an amazing treat, an amazing experience for all of those people to be with prince that night. >> there are plenty of people now, who if never got a chance to see him perform surely wish they had. i'm sure there will be much more in terms of tribute. robert johnson, thank for you joining us. great to hear your stories. so sad to hear the passing of
prince today. time for a cnbc news update. sue? >> hi, kelly and mike. secretary of state john kerry will meet -- the two will discuss the process of u.s. sanctions relief under the iranian nuclear deal. volkswagen has reached a deal with u.s. authorities over the diesel emission scandal consumers, rigged to cheat on emissions test will have the option of having the auto maker buy back. it will include substantial compensation. gop presidential candidate ted cruz blasting rival donald trump's comments on north carolina's bathroom law saying grown men shouldn't be allowed in a bathroom with girl. trump says on "today" this morning saying north carolina should have left the wlaus the way they were. papa john's says it's
removed high fructose corn syrup from the entire food menu, becoming the first pisa chain to do so. and says by summer, the chicken it uses will be raised without human and animal antibiotics. >> corn futures still soars somehow. >> wow, thank you, sue. >> see you in an hour. well, just under a half hour to go in the trading day. the dow is down 126 or so. the s&p 500 down 12. a leading trader will tell us what he's watching into the close. plus called the dean of valuation. aswath danodaran joins us to tell us why valent is a buy now. looking for balance in your digestive system?
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top estimates and revenue matched the street forecast. the company resolved a dispute with activist investors. plus par managing partner to the board. oscar immune i don't see talked to us. >> i'm going to also some some of the board members that are leaving, because we had a great run, but at the end of the day working together, employees and the board and our management team, i think tell work well. united's stock has been on a wild ride, down to close 9%. a big drop today, mike. thank you. mark, what's interesting is you're not saying this is a one-day move.
you see health care breaking down, don't you? >> it's a mean reversion. it was a worst performing sector over the last three months, now the best performing over the last month. you look at a daily chart of health care, you see recently a few thing technically make it interesting. re it reps a risk reward. >> financials who knows, you know, we've talked about some of the overpriced consumer areas. could health care come back to the forehere? >> and really the supply and hmo stocks that have led the way.
we're also, we've got some investors involved liking some of the louter valuationses. mark, thank you, though. mark newton. back to you, mike. of the dow and s&p 500 both down about 0.35%. you've heard of the six stages of grief. how about the five stages of a stock, it's been examined, and he joins us next. if you thought yesterday was a big day for earnings, stick around. google parent alphabet, microsoft and starbucks leads today's parade. we'll have them all, coming up. what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool.
- a drop of water by itself isn't much. but if you've got a leak in your house, those drops add up. a faucet dripping every second can turn into five gallons a day. when it comes to your water bill, that's way more than a drop in the bucket. the more you know. welcome back. dow is down about 112 points, the nasdaq is down only six, but the brought look at things, it tells you the kind of across the board pressure we really are seeing here. only about three to seven, the gainers versus the decliners today, we mentioned the health care earlier was the only sector
newton making his case for that. >> and some of those supposedly are selling off the most. >> someone was telling me that. well, valent stock is down 67% year to date, some even suggesting that bankruptcy might not be far off. our next guest says this story includes special lessons. >> joining us is aswath, who says valent is worth $43, and he bought it at 32. srcht just the case for make it was oversold and you're buying into it, but a thoughtful case why the business model deserves that kind of valuation? >> i think in a sense, if you were devising a company on the dark side, value would be it in
is. you've this on hanging over there where you were debtholders essentially saying if you don't file by -- cough nance will kick in. but at the right price eetch a bat company can have a good valuation. it does own good valuations. i think at $32, it looks like the odds are in my favor. when it's hard to estimate -- and also just where does the debt calculus come in. there is two adjustments.
i've assumed it's bad news they're holding back, not good news, so i would lower the operating margin to reflect some of the acquisition related operating income is probably going to go away. they'll have a tough i'm borrowing at a reasonable rate. there's a very real chance. they should be pushed to make concessions they would not want to make. i have built that into the valuation. november i valued it at almost $77, so i've scaled it down deto reflect the problems. jim said in the past that it was
-- and valent always go one big acquisition too far. and at the pace that they are growing. going back to where this leaves the company is it not going to be a roll-up with the growth it once delivered, what does it look like from here? >> it looks like a traditional pharma company with a fairly significant eye care and cosmetics arm. so it's more of a conventional company, where revenue growth would be 3% to 5%, so i think there's no chance it can go up to being the roll-up monster that they were. and it would just be run as a routine profitable business.
>> i'm dying to find out what they're going to tell me they have hiding from the last few years, so i think that will be the biggest factor. the second is i think they're talking about not being willing to sell bausch & lomb right now, but i think it depends on how desperate they become. 6 sgli aswath, thank you for joining us. compelling case, latest charpt in what's happening over at a valent. >> it would help to have a ceo, too, a permanent one. yeah. >> they'll get there, i'm sure. the dow is still down, we're about 100 points. up next we'll tell what you to expect from today's big earnings after the bell, alphabet, microsoft, starbucks and more, stay tuned.
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with starbucks, jon, what are you watching for? >> getting close to taking out the all-time split adjusted high, so can the bulls stay in charge? after the bell, the street will be looking for eps of 797 on revenue of 23.37 billion. also what are the revenue trends for core google. there up and at 45% margin. risk to listen to on that call regular torrie challenges, also google needs to invest a lot of money. when we talk of any investment cycle that would impact margins and surprise investors. >> josh, thank you very much. out in re monday, washington, we have deer ra. >> reporter: it's all about the rising cloud for microsoft.
this portion of the company's business has really pep to propel the company and into a new era of technology. so investors are going to be watching to see whether or not cloud services can continue to grow at the breakneck pace that it's been growing, and if it can continue to revitalize the stock price, and good es what? it's only a few bucks away from the all-time high, last seen in december of 1999. as for what we are expecting, 64 cents on revenue of 22.1 billion. we'll bring it to you shortly. very much looking forward to it. mean thai susan li, what do you have in particular in mind? >> reporter: most analysts i spoke to say they are expecting a pretty strong quarter, looking for eps ground up to 39 cents apiece.
analysts are also looking for updates on the mobile app. how many orders are being made on mobile. also looking for maybe some feedback on the loyalty program change. just l.a. week they changed how you earns stars at starbucks, so it's not how many drinks you buy, but how many dollars you spend at starbucks. then we're also looking for anity date in light of the -- stash bucks closing at 15 cafes in belgium and being impacted by the tragedy in the paris attacks last year, kelly, back to you. >> suiten, thank you very much. with about nine minutes left in the trading day. we're joined here on the floor by jeff taylor of digital risk. he's got some thoughts about the housing market. >> you know 2016 is a lot like 2015.
one, the world economy is still very difficult for people who felt comfortable, but on the other hand it's very low interest rates, so if people haven't refinanced, i think it's a heck of an opportunity, but i think the big push will be how do they use technology to drive that living experience. this is one of those spaces that hasn't been disrupted yet, so i think a lot of the big banks are trying to use mobile apps and digital technology. >> what's your read on markets generally here? we've talked about the divide. how big is it between the all-time highs on stocks, and the weaker underlying trend, housing included. so i think it will be choppy, very volatile. .
welcome back. just about four minutes left. about half a percent loss, the nasdaq holding up better. art cashin said about a 00 million to the bond side. bob, you know, it's really the supposed safe dividend yield stuff that's really leading the down side. 3:00, stretch re yields moved up, all of a sudden, particul particularly -- modest move up in -- remember all these people who piled into high-yield incidents as the market fell
apart appeared bond yield moved to the up side. some of them may be moving out of the utilities. to see some of the the defensive names now seem to be a bit out of favor. i think people should keep an eye on that. we've been talking about earnings perhaps the commentary a bit better, and i think gdp will be important tomorrow, as they start talking about business is better than three months ago, you get a shift in the sentiment. you've had the defense i have been stuff selling off, guess what? they sell off when bonds sell off, and the alpha bets,
starbucks, and we'll see if that -- >> this is the next question. is this going to be enough to get a bid in the cyclical names? in your industrials? in your materials, even if the financials to a certain extent, there is modest movement in that group this week, there's not particularly today, so i would say we're still on the fence, you could start building an argument, hey, a bit of rotation, but you don't have a lot of ammunition, and still well above the weekly lows. it seems as if the market can back off a fair bit and still not compromise this trend? >> yeah, the trend is definitely to the up side. this is one of the weaker days we have seen in a long time. as so this is a bit of weakness, and it's interesting to see they're not buying the cyclical
names. the market is still out about whether it's a real rotation going on, but you can see them trying to lay the foundation for some kind of move to the up side. i think the big thing is watch the industrials. i keep pushing them. you may want to talk about microsoft toward the close. impltsd you know, you have had the dollar firming up, or at least it wasn't going down, and it seems like it's created this is moonor reversal trades. >> initially the euro rose, dollar weakened, and a lot of people were scratching their heads. i don't think draghi said anything particularly different or changed the conversation. generally the idea is still weakness in europe, and u.s. is still the best way to play it. >> it seems like investors if they had their preference, would ignore the central bank make rho stuff. we'll see if they're free to do that. >> wouldn't it be wonderful -- we're actually doing that. >> bob, thanks very much.
ringing today's closing bell, anna armstrong, and up at the nasdaq the fresh air five. kelly, over to you for the next hour. thank you, mike, welcome to "closing bell", everybody. i'm kelly evans, dow going out with a decline of 110 points or just about today on wall street. it was the underperformer, the weakest one, talking a bit about vising, it was down after the earnings report, koch was lacking today, same kind of reasons. it was health care that was even green on the session today. the nasdaq almost down into positive territory closed down two points. we are about to get another slew of earnings that would have a
real impact tomorrow. look at that. i think we decided that was a hepta box? >> and kayla tausche will have visa's numbers, and seema mody will break down schlumberger. back with us for the hour, mike san tolli along with our own jon fortt, and christy short joins as well as fast trader dan nathan. mike, i thought you put it well that some of these dividend paying names, they sell off when bonds sell off. >> and people have been saying they're kind of huddle in there for safety, and this rotation has been going on for a while. as these guys, you know, had a lot of air under them. it doesn't necessarily have to be more alarming than that,
though i think most agree that this was dao you for a pause. >> not to get too overly specific, but verizon, that was a big mover to the down side today, what do you make of that? >> i think it's a crowded trade. mike was saying we had a lot of investors who looked for defensive nails, they stuck with them, continued to work, u.s. telco, consumer staples. when you start to get negative fundamental news like you said in coca-cola, in verizon, you're going to take profits. when you this i about the decline in coke of 6.5%, that's pretty substantial for a stock massively outperforming. there's a lot of companies that have mentioned the fact that the dollar being down, the vix down 5%, that should have been a very positive thing near term for multinationals, coke is still blaming the dollar for the -- it's really important he. it's banging up on support, $94,
that's been the range over the last, let's say 14, 15 months. if you see a bounce there, i think multinationals will have more pain to go. >> fair point. moo enwhile, jon, the bar is high. we've hard already from ibm, intel, and they're basically telling you that the old gart is struggling with turning the ship. >> i've just seen the google release, but a key question, because of that from microsoft, we had intel's ceo tell you the enterprise overall looked kind of weak, part of it was because of gdp concerns, and part of that was because of a ship to cloud. you hope more of those enterprise customers shifted to azure and office 365. they didn't get hit as heart.
>> want to point to what's on the screen there, google, the ticker, alphabet the name. they were looking for possibly a $23 move on either side. this is more in the range of about 40. the eps looks like a miss, but we want to make sure it's apples to apples before we get the the full details. josh limit ton, as he pores through the numbers for us on alphabet. >> those numbers are just out alphabet reporting 750. the street was looking for an eps of 797, and revenue likely 24.96. analysts were looking for -- google's segment revenue at 20.1 billion. other bets revenue, so everything from nets to fiber, aggregate paid clicks up 29%, cost per click down 9%.
on this conference call, obviously we have a lot more questions about core google's performance, cost controls, as well as those risks, including in europe. that call starts at 4:30 eastern, kelly, and we'll be on it. intoic to you. >> josh, actually just reiterate that the cost per click was better than expected? >> cost per click. it looks like down 9%, that is worse than expected. analysts were predicting down around 6%. >> maybe it was the street that had moved to a bit bigger decline, again looking at the shares off about 6%. what do you think this. >> that's a bit of a surprise. we were looking for $8.05. that was based on last quarter just reported below earnings. that was the first time they broke out the first bets, so i don't know if the number that josh gave -- i don't know what the growth rate is. i would be interested to hear what it is, but certainly a big
surprise. i my aggregated paid clicks, 29%, not too far off of what we saw last quarter, but this is a name that, you know, at over $500 billion market cap, they're still putting up double-digit growth, so i still think those numbers are pretty good, but to see such a big miss, 55 cents perhaps on the bottom line, a bit surprising. >> i think a key is that google stock had been rallying, and was near -- not at but near the highest of the years, and it would broken it into positive territory for the year. even though the pc market has been slowing down, it had made the transition better than most. google and facebook are getting the lion's share of that. even if the smartphone market is slowing down, people are using the smartphones, a lot of that benefit should accrues to google, but valuation wise, you see a lot of these companies not
quite hitting the revenue numbers, growth is still important. it's up from 550. last year when you started to get more information about the different divisions, and the new cfo. i think that's why ear seeing basically -- >> it doesn't mean it's that alarming at 6%. >> i would caution. that's a good talker. sometimes they let out some information on the call in terms of stats that have sentiments shifting in other directions, so be careful about maze assumption. >> and they were going to be the beneficiaries. >> we're seeing a lot of companies comment on that. going forward you'll see easier comparisons. >> le's see how that stock is
doing. >> some disappointment, in line with expect at theations, and then we had a miss, looking for $5 billion, got 4.99 billion. a lot of analysts said this was a tough quarter since the expectations were so high. >> thank you, beg sure to tune into mumm. kevin johnson listen joining our jim crailer to discuss these results. the shares are down 4%. what do you think, dan? >> i think it was priced to perfection. you have slight misses, i haven't seen the china comp numbers. they missed those. so when you're price to do per effect like this, expected growth of 20%, there's not a lot of margin for error, so i expect a lot of these companies hitting
the tape. even though all three of those stocks were unchanged it's probably not enough to get them back. i would expect some of these names that are kind of priced expensive. >> i think starbucks might have one of those, too, so we'll see what the commentary. >> kind of tightening up that chart pattern. we'll see if that el matter for where we go next. to recap, shares of google, trading significantly to the down side. starbucks on your screen, call it 4.5%. google still down to -- visa starting to hit the tape. microsoft starting to hit the tape, too. >> i'm sure we'll get those numbers, but it looks like the revenue will end up just about in line.
from the release, it look likes microsoft is saying, for example, cloud services, revenue grew 7%, cost and currency, you want to see something close to 10%, we can go on down the line. but i'm sure deidra has that information. coming in a bit light. revenue just slightly under what was suspected. we are going to look down for the breakdown, for what has been
driving a lot of microsoft's business. >> you were saying, john? >> here's a key number. microsoft saying azure grew with using of azure compete and sequel database year over year. that's the pace you want to see keep up. if you look at windows overall, sort of what we heard from intel yesterday and the day before, microsoft say eom revenue declined 2%, but that was better. so those two and ones. getting more sort of showing in terms of the focus is, they're already there.
alphabet and microsoft and starbucks, christine, they're all trading to the down side. so is visa. so unfortunately not a lot here for investors. we'll wait again for the full read, for the calls. but the initial response certainly as soon as a great one. it looked like the sentiment was ing -- a lot of the issues that are looking to dissipate, oil, a lot of these other issues are kind of falling to the wayside. the second half of the year shouldn't be much stronger. i'm not terribly surprised. so analysts were coming in, continually cutting their estimates and revenues were trimmed by about 3%, so to see them miss our estimate by four cents, i kind of think it was building up for that. >> we're showing visa on your
screens there. hi, kayla. the headline number is a beat by one cent on earnings by share. the expectations was 67 cents, the revenue numbers also coming in just slightly above estimates, 3.63 billion versus 3.6 billion. the company saying they did see headwinds from foreign exchange. they continue to see weakness in emerging market economies as well as oil-dependent economies. operating expenses for the company up slightly due to network and processing expenses, as well as increasing in personnel, but overall payments, volume growth for the company up 12%. here are two things that could be impacting the stock after hours. number one just before the earnings hid, the company amended its transaction, remember it was going to buy for several billion the european portion that had been previously owned by multiwall banks. it said that after consulting with the european commission and
other regulators in europe, they have eliminated an earn-out which would be payment dependent on certain metrics that the company would hit. they have el implemented a bigger cash portion, so that will be more money that is coming out of visa's pocket. finally they are updating their guidance for the annual net revenue growth. previously they said that would be expected in the high single-signature to low double digits. the company updating that 7% to 8% on a constant dollar basis, so it does appear they're taking guidance for the revenue for the year down slightly, but we'll keep reading through the release and we'll have more. >> those shares on visa lower. >> you know, if you sum up these four reports, these are exactly the kinds of cpanies that are not necessarily trading well. the stocks have outperformed tremendously. they're kind of the bulletproof growth type of companies as oopposed to the beaten-down
cyclical ones. visa stocks are up 60% in 12 months. this is not exactly representative of most companies, and i do think that's week people's expectations got a little high. >> dan? >> i just adopt know what you're paying for. 7% 8%, trading at 29 times earnings, you know, there's no real dividend yield there. what are you paying for? i think investors got a little excited heading into this event. obviously the market started to climb a wall of worry here, but all four of these reports suggest to me they're all premium valuation companies. obviously at one point they had a lot of premium growth. starbucks and alphabet are simply different, but i think they deserve to be down a few percent. >> jon? >> i'm going to say the microsoft cloud numbers not that bad. they grew 7%, costs and currency
just reported. last time, the azure growth is very similar, consumer subscribers were up more than a million and a half, so across consumer and enterprise, geffen the color you're seeing, the growth is still within the range you want to be microsoft says, yeah, wee seeing a slowdown and we expect a continued slowdown just because we have done all we can, yeah, maybe that's a concern, if there's just some blips during the quarter and cloud business is growing generally faster, they still feel better about windows than the overall pc market. >> and that's where, you know, as one analyst was saying, some of these we are leaky bucket names finally reached that inflection ship point. that's the bar for a lot of these names. do you want to be -- what part of that journey do you as an investor want to be on?
>> microsoft has set itself apart from -- we had to mention earlier that the stock is just below the late 1999 all-time high. intel appeared the other ones are not there. the street kind of figured that out already, so maybe the burden of proof is alternates high in terms of these numbers. >> let's go back to susan li. >> 100 million share buyback. i want to get back to some of the comp store sales since they have invested so much money in china, and it looks like we've got a big miss here in that regard, so looking for the quarter, same-store sales, market lookeding for 4.5%, which might explain some of the declines. >> susan that 3% is overall? >> yeah, overall for the asia pacific, china included in that basket, and it looks like it's coming in short. >> thank you. we know that's an area that starbucks is betting big on, let's sigh if we can flip over
and if schlumberger, which looks leek a slight -- seema mody has the results. >> that's right. reporting earnings that beat expectations by a penny, 40 cents adjusted versus the estimate of 39 cents, revenues topping expectation at 9.52 billion. the management says first quarter decreased of 16% was one of the steepest quarterly declines we have posted, this was driven by a continuing drop in activity and persisting pricing pressure, as well as from project delays. we look at the stock. it's basically flat after hours, but keep in mind schlumberger up about 30% over the past three months, of course analysts have been relatively downbeat given the dram it can fall we haven't seen in commodity prices, plus the drop in rig counts. given the rebounds and the market coming back, that's been helping some of these stocks outperform. >> seema, thank you. flat is certainly the new up
after hours today, mike. >> without a doubt. this stock is up from 60 to 80 in just the last couple months. it's also the class of the industry, though, so i don't think you'll necessarily get that real beta, that dramatic move. >> and christine, again we knew it was going to be a dis mall sector, because bev seen what's happened, so schlumberger a bit of afternoon exception? it is irony of one name that was a beaten down sector, it just speaks to the fact that analysts cut cut cut those estimates, so a lot of these names are actually having a great opportunity to pass that, whereas some of the names like google and microsoft, a lot of times the estimates were moving a little too high, but energy is expected to be down 114%, however, if you look over the next three quarters, you see that lighten up a bit and start to improve, and you've seen that comment on the oil stabilizing.
>> how much of a rotation do you think is under way here? >> we're talking about some stocks, again microsoft, google, starbucks, all flat on the year. they have made ground up, but energy stocks are up a heck of a lot more. you know they were really a disaster, so you've seen rotation, you've seen some of the better quality stuff, not really outperforming on the year right now, the s&p is up a couple percent, the nasdaq is down 1%, so seeing some consolidation, that makes sense. what makes me nervous is the move into materials and energy. i've heard christine talk about how certain things should abate in the second half. you've seen the dollar much weaker. i'm not so certain, and if we do see the dollar move back just to the middle part of the range, when you look at the dollar index between 94 and 100, you'll see a lot of stocks outperformed off the bottom, or not right back down, but retracing a good
part of that move. >> back to the larger discussion about the fed, but we'll leave it there. schlumberger is the exception. thank you, guys. combing through the earnings results. there's much more at the top of next hour with dan and the "fast money" crew. microsoft's earnings call will kick off at 5:30. they'll have the latest from the biggers movers after the bell. a deeper dive into alphabet's results, including what analysts will be looking for on youtube, and the falling crude prices have left alaska with a $4 billion budget gap. some of the solutions that governor walker has proposed causing a stir. s power... quite like the human foot. introducing the 255 horsepower lexus is 300 all-wheel-drive. with twenty-five percent more base horsepower. once driven, there's no going back. ithere was 14 of us in a four bedroom apartment.
man 1: i came as fast as i man 2: this isn't public yet. man 1: what isn't? man 2: we've been attacked. man 1: the network? man 2: shhhh. man 1: when did this happen? man 2: over the last six months. man 1: how did we miss it? man 2: we caught it, just not in time. man 1: who? how? man 2: not sure, probably off-shore, foreign, pros. man 1: what did they get? man 2: what didn't they get.
man 1: i need to call mike... man 2: don't use your phone. it's not just security, it's defense. bae systems. we have some breaking news on abc to get to with julia boorstin. >> that's right. abc and univision announcing they're going to entheir joint ownership of fusion network with univision becoming the sole owner. this is going to take place immediately. they do not disclose the pride that univision is paying to buy out abc, which of course is owned by disney, but they say. and this transition of ownership will happen once the reports
that univision is planning to bunding fusion into a new division aimed at millennial. but of course, this is the end of an era for the fusion network and joint ownership by abc and univision. back over to you. alphabet shares, starbucks down visa down 4.5%, moving about 1% to the up side, on alphabet specifically and kevin landis, value fund. welcome guys, rob, your thoughts here, and what do you think is most worrisome, expectation for
more up side. i think the takeaways that were key for the stock were continued high growth and google web sites. some folks were getting reads and getting more excited about google's quarter. >> it's hard to grow faster than the market, so sometimes if the macro picture slows down a bit, you're going to slow down, too. >> i guess that's part of the question, right? we had a lot of old -- and people were looking to this sector, to basically keep justifying the high multiples,
and that idea of growth. is the space itself slowing? is that any pause for concern? >> not really. in general, if you think of alphabet's financials, it's really driven by ads, and what's the big thing going on in the ad space? cord cutting, the move to digital, who would you rather be than youtube? they're in the right place. it's just that they've had so much success so far, and enough of a size that they can't just keep giving you hyper-growth numbers. every wujz in a while they'll have a quarter that comes in a bit light. >> part of the question is how much of a valuation do they deserve? if you're looking at a weakness, you would sigh enterprise cloud that is got to be, for the resources they have, the smarts they have, the fiber, they should have way out ahead. they are not there if there's a consumer slowdown and if ad rates on mobile, on youtube are not getting them to the growth
they need, maybe that's a problem, maybe they have the weakness in enterprise. >> well, i think my first comment would be we have an 80-plus billion dollar business growing 23% constant occurrencely. there's not many of those around. that's an impressive result. if you just talk about the size and the scale of this business, 23% growth is very, very strong. in terms of their cloud position, yes, i agree, google should absolutely have been the public cloud provider had they put the resources on this strategy earlier. they were very proprietary, but access to their infrastructure, they have seen how big of an opportunity the public cloud is. they're putting resources behind it now. >> kevin, you know, you mentioned the big thing going on is of course the move to digital and to mobile. you have google sitting right there. if you add up google and facebook market cap it's about 850 billion. is there enough for these guys
to each together and not really be poaching from each other long terr? >> you have the two, the one with the most momentum is the newer and smaller one, facebook, but i think as long as there's old media out there, and as long as i deep -- i don't own a cat and i keep getting cat food commercials, so i think ad tech has a ways to go, and i still watch linear tv, so they haven't gotten all of my impressions. they have runway. i just think it's a question of calibrating our expectations. they're such great success stories, but they have to put up really respectable numbers, and we need to be learning to be happy with that. >> are you a dog guy, kevin? >> yes. >> i would great with that, but a world where only cat owners get cat foot, is the deflationary store. that's just a long-term concern. >> think about it differently.
if you get nothing but really, really relevant ads, ads are much less of a burden, your quality of life goes up and you actually look forward to the ads. it's very difficult dynamic. >> if that's true, i look forward to that day. thank you both. let's send it on the floor to seema mody with an alert on norfolk. >> cost cutting seems to be paying off, reporting earnings of 1.29, much better than the estimate of 97 cents for the quarter. sales coming in at 2.42 billion versus the estimate of 2.4 billion, again despite a decline in freight volumes. income from railway operations came in at 723 million. that's up 19% year over year. you can see that stock is basically flat after hours, but again, it has been an outperformer so far this year. back to you, kelly. i just want to mention, advance microdevices, another stock i have, reported earnings,
adjusted loss versus the estimate of 13 cents, and did beat on revenue, 8$832 million, it does also see strong guidance for the second quarter, and that is what is helping the stock shoot higher after hours, up about 21%, so there you go, kelly, you've got a winner there. >> al bet it off a $3 base, but seema, thank you, jon, interesting to see the pop here. >> it is, the question is -- is amd going to be able to capitalize on an area that intel is moving out of the, which is the low and midrange consumer pc market? is there enough margin there for a company that small to of a bit of a comeback? if so, this is a much reduced amd, you know, perhaps they can get risen. it doesn't take much to move a stock that level. >> it's a $22 billion company. not exactly what we used to think of in the '90s. >> that's a big more than intel will save from the cuts they expect to make over the next
year. >> well, there's advance micro, up nearly 21%. crude prices beating down alaska's economy. the governor proposing a personal income tax for the first time in 30 years. we'll head to juneau next. comme? "super food?" is that a real thing? it's a great school, but is it the right one for her? is this really any better than the one you got last year? if we consolidate suppliers, what's the savings there? so should we go with the 467 horsepower? ...or is a 423 enough? good question. you ask a lot of good questions... i think we should move you into our new fund. sure... ok. but are you asking enough about how your wealth is managed? wealth management at charles schwab.
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lows of the year, but alaska is feeling the pain of the plunge. scott cohn is in juneau with the latest. hi, scott. >> reporter: hi, kelly. that behind me is mendenhall glacier, one of the breathtaking sights you can see in alaska. another thing, is the dividend checks, $2037 for every man, woman and child last year, but now those checks are on the chopping block. imagine how that's playing in downtown juneau. >> this is almost heresy, but it doesn't make sense to impose a state income tax when we still have a state different. dividend. the state is looking at a $4 billion gap. they're talking about
reinstating a income tax since is the 80. governor walker realizes this isn't going to win him any friends. there's something there for everybody to not like. there's parts that i don't like. >> reporter: here's the problem. alaska faces all kinds of new competition with things like shale oil. the fear here is these are the new normal. >> and once context where people would like their new normal to remain the same old checks. thank you, scott. time for a cnbc news update. sue? >> here's what's happening this hour, house speaker paul ryan uss the house is making good progress on a bill to help about weathero rico deal with their debt. he does say he did not want the
american taxpayer for pay for it. survivors of ecuador's devastating earthquake are growing increasingly desperate as they struggle to get food and water. as aid has been pouring in distribution has been very slow. race car driver tony stewart releasing a statement saying his doctor has given him the go ahead to return to racing. he missed the first eight races after breaking his back in an atv accident in january. and pop superstar prince was found dead in his home in sub b suburban machine accomplice today. the sheriff said the deputies called to his studios found him unresponsive in an elevator and krmt pr failed to revive him. he was claimed as one of the most inventive musicians, the president saying no one's spirit was stronger, bolder or more creative. he was 57 years old.
the president went on to say he and the first lady join millions of fans from around the world in mourning. the sudden death of prince, few artists have influenced the sound and trajectory of popular music more distinctly. we've seen the attribution popping up. we ask effect much more. alphabet shares are falling after hours, after a weak earnings report moments ago the the kufrl just got started. many investors are looking to hear more about youtube's numbers in particular. we'll have the latest details we'll have the latest details right after this.
if that's what you need. because you have enough to worry about. i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. welcome back. here's a check on the named reported earnings. schlumberger is down about a quarter of 1%, but meantime, some of the bigger movers including the big-cap tech names. julia? >> that's right, we with connect antist questions.
citing on the conference call, that one of the drivers of the revenue growth is continued strength of youtube as well as of -- going into the call, ubs analysts but the near 2020, and then it will comprise about a google recent ly now, of course youtube faces more competition than ever from facebook, which is making a big push into video, which of course is youtube's territory. guys, what are the thoughts here? >> we're looking for 35-plus percent growth.
it's a real cash machine alongside crowe, some of the products. we think today highlights why. they'll have to serve more ads as increased number, because the per unit cost is going down, so these other ways are going to be essential to the future of beating or at least meeting revenue targets. i think so. that's going to be a big part of revenue. it's a $10 a month subscription, so i would be interested to get color on that. there are some expectations. that could be up to 4.5% by 2022. they actually have higher market
share than any other cable network, so it's a great opportunity to monetize there, so i would be interested to see. >> guys? >> i wonder what you think about the growth rate that's necessary to justify the valuation that google's got, and what it is that they can do to accelerate growth from here. does their enterprise cloud strategy, which i keep harping on, does that have to be successful? diane green, who certainly has a lot of. >> i think the intersurprise cloud, as you mentioned, they're way behind on that. they should have a much larger mark share getting that on to catch up could be tough. that being said there's a lot of they've got this fire hydrant of
cash from search and ad, but i think ruth was kind of brought in to be the adult in the room to see if we could monetize it. technology is not about incrementalism. we need bold innovation. , and based off of valuation, they do need top-line growth. not a lot of up side. >> max, i'm wondering what you think about the reports we have seen on nest and the impact on google as culture. there's some report that tony at nest not too popular, an extreme version of the steve jobs' apple culture maybe? google -- alphabet paid more
than $3 billion for that. what does that say? >> i think they had hoped for a quick ramp-up around the therm other stats, cameras and a few of the existle products they sort of slurped up. it's been a much slower ramp. the flip side of the serb artificial intelligence. that looks to be a bright spot. we think that will be bigger, so it's a good offset. iot matters, and they had been slower than we had hoped. >> guys, thank you. we also want to mention facebook shares are trading lower. they're at it again. federal regulators taking aim at the c-suite and incentive pay. more next.
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the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ welcome back. the much time-outed frank law mandated that six separate regulatory agencies propose new rules on incentive pay for institutions, one of the lesser known agencies is moving on a new plan to curve bank boss pay. mary thompson has the details. >> the national credit union administration is the first of six regulators to approve the proposals, others soon to be following. registered investment advisers, public or private with a billion or more in assets on their balance sheets. still, executives at the biggest firms impacted the most.
the rule means they have to wait an added year. today's rule a reproposal from 2011, key changes include a man dade that is 67% of senior executives and with over 250 bi in assets be paid out after four years. it's three years for executives at firms with 50 to 250 billion in assets. overall the rule subjects more executives deferrals. second, incentive pay for these executives at firms with $50 billion in assets can be clawed back going back seven years. claw backs allowed of executives engaged resulting in financial or reputational harm, fraud or if the executives misrepresent performance to reduce pay. lastly, all firms with over a billion in assets need to retain records on compensation for up to seventh years. the rule is up for comment if adopted, firms will have 18 months to compile. kelly, back to you. >> we're still waiting to hear from others but for now, mary,
thank you. uber shaking up the auto world yet again. we'll tell you how after this. ♪ shake it up when we cook together, we rise above our differences. the right amount of garlic reigns supreme, and what separates us is mostly whether we're chopping or frying. food is a language we all speak. when we cook together, we find harmony in the kitchen. we make more than a meal. enjoy fresh ingredients
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those earns movers will get more details shortly. more than just tax season. we have to worry about ride apps like uber over taking business and rental car companies. according to travel and expense management, uber accounted for 43% of transactions expense. rental cars accounted for 40%. we're seeing uber share larger. how concerned should rental car companies be? >> hertz down close to 60% down. there is a lot else going on, these are favored hedge fund stocks but if you're losing corporate business travel. that's a tremendous part of the business. >> what about the tax season themselves? we talked about how to look at medallion companies struggling. >> for sure. i rarely get a taxi if i have a ride hailing option.
absolutely, if i'm going somewhere and not traveling far from the airport, say, it's only 15 to 20 minutes, i will absolutely use a ride hailing service rather than rent a car. was not always the case. if the costs are about the same and i know that coming back to the airport i'm not going to have to worry about returning a car, jumping in that shuttle, making sure they drop me off at the right place for business travel it's worth it. >> i spend five days in nashville using uber and not just talking about being in the biggest cities, driving up the coast -- >> like a country song, kelly. ♪ i spend five days in nashville and only used an uber ♪ >> not even a horse. i often made the calculations side by side because rental cars are cheap if you get a corporate rate but paying for valet parking and more of a hassle if you get on the shuttle. >> probably costs more to park your car overnight than to use uber four or five times. conference calls are about to begin for starbucks and
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how's it going
watson? welcome to the bank. hello tom mccabe. executive from dbs bank. i am keeping busy assisting your relationship managers. how so? i can read over a thousand research reports every day, to help you keep abreast of market movements and to help your relationship managers give better advice. that's great. today's fast moving markets make it hard to keep up. but together we can stay one step ahead. we make a great team, watson. >> welcome back. it's been another big hour for earnings. here is a look at shares as conference calls are starting to begin for starbucks and visa.
microsoft will begin at 5:30
eastern time. mi microsoft shares down less than 3% and alphabet and starbucks down 4%. >> the google call is talking about enterprise and saying that businesses are beginning to migrate to at least sniff out google's cloud services that they are offering now under green. that's positive for them if they can get traction there. >> mike? >> i think this doesn't really turn the whole story of this earning's season around at all but 70% of companies when they beat or report stocks go up. these are the kinds of stocks that already were considered to be kind of best in breed. a lot of good going on, stocks out performing. i think there is give back because expectations were high. >> we'll have to watch and see how this effects the trading day tomorrow. we have general electric, american airlines, caterpillar, mcdonald's, honey well. it will be a super busy one and want to mention after hours, boston beer down on its
earnings, haynes was higher and talk about norfolk southern and amd. there is plenty of ways to get a read, just not consistent yet. there is boston beer for everybody on your screen down 11%. thank you for joining us on closing bell. that does it for us. "fast money" begins now. >> "fast money" starts now live from the nasdaq market overlooking new york times square. dan nathan, brian kelly, karen finerman and guy adome. alphabet missing and starbucks missing on revenue. that stock is falling. look at visa tanking after slashing guidance. cnbc team coverage throughout the hour in each conference call with the headlines as they break and sell off in the bond market is reeking havoc for several high-paying dividend stocks. could any names be worth buying now and later, bill acreman gave $100,000 to a business s