so these the winners and losers and there's some companies like viacom mtv who sent or night play this game, we'll stand on the sidelines and where is the winner will license or materials now. so keep my amazon's got a lord of the rings million that stream of thrones is coming out with a pretty cool for hbo. who is netflix is apple's hired spielberg and oprah, content so you and i are going its its peak tv, its golden age tva bite. if you're the player inside of it, it's very expensive to keep up our so one year from now we'll come back and revisit the topic and see how many players are still in existence. yes, okay, and then lastly as a fast food fan, myself i don't eat it enough of it are as much as i'd like to because i'm trying to be guardian slap law. >>go sample burger king's new impossible burger right because they've launched what wanted nationwide. yeah we've already got a few locations in the bay area that offer for months to get on your such easy pickings i know you passed fared i can talk me now is very thing with the all the time these are publicly traded company so why no

one week until cbs and viacom self-imposed deadline for a merger deal. plus the newest twist, and the t-mobile and sprint saga. charlie is back with a two-for-one exclusive. jasper you know is coming up. ♪ ou need. wow. thanks, zoltar. how can i ever repay you? maybe you could free zoltar? thanks, lady. taxi! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ while managing your type 2 diabetes- why think about your heart? lower a1c helps, but type 2 diabetes still increases my risk of a fatal cardiovascular event. and that's why there's jardiance- the first type 2 diabetes pill that offers a lifesaving cardiovascular benefit for adults who also have known heart disease. it can significantly reduce my risk of dying from a cardiovascular event. and it lowers my a1c, with diet and exercise. jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. ketoacidosis is a serious side effect that may be fatal. a rare, but life-threatening bacterial infection in the

viacom, 14 minutes of advertisement for our. -- per hour. executives are realizing this, and the viacom 2013 thatsaid back in the commercial minutes were unhelpfully high, but they have to pump in more and more commercials because there audience -- the audience is getting smaller. rather vicious than virtuous, but otherwise they have to charge the markets more per advertisement. scarlet: there is a great line in this story from someone who is observing all of this, saying that to many commercials is probably the main reason people cut the cord, but it is definitely in the top five. for younger generations, like my kids, too many commercials is why people do not even bother paying for cable tv service to begin for it. -- begin with. they see the commercials, i do not want anything to do with this. they either have to cut the advertisements out of youtube, getting premium services -- scarlet: just turn away for four seconds and hit "get add -- "skip ad." ads are so much longer in america than they are in europe. they go on and on and on, they

cbs and viacom have reached a working agreement on the combined companies' leadership team. viacom's ceo bob bakish is expected to lead the combined company -- okay, charlie wants to do a victory lap. go ahead. i will leave myself out of it. >> the preliminary announcement is today on the deal you have -- by the way, we reported this yesterday that it was coming down the pike. we had thought the official announcement would be next week when they both announce earnings. i think you will get that next week. but we got right now the preliminary announcement that they have a deal to merge the companies, that bob bakish, the ceo of viacom, as first reported by fox business, that he was in the pole position. he is going to be the ceo. joe eianniello will be second i command. the question is does joe stay beyond the transitionary point. it is unclear from what we know right now. i don't think he will. but we'll see what happens. but this is pretty big news. the long-held goal to shari redstone who runs the controlling national amusements holding company, owns the controlling shares

. >>> breaking news on cbs and viacom julia has the details. >>> the "wall street journal" reporting that cbs and viacom reached a working agreement on the combined company's leadership team with the expectations that bob bakish will be the ceo and joe eianell. this report also saying that cbs finance chief would be the cfo of the campaignombined company. both shares are down less than a percent on the news. this all comes ahead of both company's reported earnings this coming thursday. my sources tell me there's expectations they'll announce a deal before then but working out the details of the financial agreement between those two companies. so more details on the management team as we await news of an official deal. back over to you. >> julia, thank you. >>> also got some other breaking news european governments do have their pick for the next head of the imf. they are going with bulgaria do deal the executive board of the imf has to vote to approve her, but what needed to happen first is the europeans need to coalesce around one candidate there's kind of this informal agreement go

. >>> cbs and viacom havech reportedly r a working agreement on who will lead the combined company if a merger is approved. the "wall street journal" says cbs's actingou executive over see cbs's branded assets while the head of viacom wouldk he ceo role of the proposedombined company. viacom shares were also off a fraction at 29.78. >>> to this week's market monitor who has the names of three well-known global companies that he believes have good prospects for growth in the future. alan bond is back with us. he is comanager of theerjenson quality growth fund. welcome back. >> hi. >> we start with johnson & johns johnson. we know about the lc-related lawsuits it faces. a junior in kentucky found in favor of johnson & johnson but it is only one of tens of thousands of lawsuits it still faces. i assume youis don't feel i a big overhang on this compa? >> yes, so johnson & johnson, obviously a well-known health care business with wide range of global businesses. we think all poised to grow due to an aging population globally and developments in pharmaceutical research, and the stock has be

cbs and viacom. we know what their earns are but we would know who would manage the company if they happen to merge. the head of viacom will be the c.e.o. the head of cbs will run the cbs part of the assets and we know the c.f.o. will be the cbs person. they're not saying they're merging but just in case, they've got a plan. alix: maybe if something comes up, they might have a plan. tyson foods out with earnings. delivered pretty strongly. they beat on the bottom line, they also came in right above their expectation. estimates for the top line as well. and the big takeaway for me is that the best could be yet to come. you have the african swine flu decimating the hog population in china in theory for the guys like tyson, they have car gill. this is going to be very good for them going forward because it's going to be a huge lack of supply of protein like chicken and beef that they will have to send over to china. and you will have a huge lack of supply. that's not happening yet but it will be a big b

. >>> viacom and cbs worked out a deal where viacom's chief robert bakish could lead the combined company if they reach a merger deal. both stocks down in a down market. >>> where's oil? that's interesting. despite the seizure of a tanker in the gulf by the iranians, lots of goings-on there, despite all of that, $54 per barrel for the price of oil this morning. how about that. gas keeps on coming down. not a lot, but the average now is $2.71. i keep reminding people, we have had gas buddy forecasting 50 cents a gallon less by the end of the year. >>> fed ex and ups, they are going to pay their sunday drivers less than weekday drivers. that's the report. why would they be doing that? you are the economist. >> that is strange. maybe they can get away with it because people do this as a part-time job or something? so you get an increased supply of drivers on weekends as opposed to during the week. ashley: that makes sense, right? stuart: it does. ashley: if you are going to go seven days a week, try to save with lower paid drivers on sundays. stuart: owhat are the drivers wo make less on the

neil: it is not affecting deals in the works, like cbs viacom. what is going on there? >> there are other factors why that is going to happen. i think it will happen, could happen as early as thursday from what i understand. i think it is a 50/50 chance what i'm being told that finally, shari redstone from sumner redstone's daughter, essentially controlling, she is leading the company, national amusements, which has controlling shares in both these big media companies, she has wanted to see the merger since 2016, for a lot of reasons we reported, written about on foxbusiness.com. it is finally at the stage where it is happening. we were first to report, bob bakish, if it happens will be the ceo. joe ianniello, ceo of cbs will essentially run cbs. be his nominal number two through a transitionary process. unclear whether he stays long term. the question is, what happens next. just let me say, there is no normal agreement no matter what you kind of -- what the journal reported on friday or thursday is exactly what we've been saying. there is a set of working principles. a

. >> karen >> selling some puts >> viacom cbs has legs viab >> that does it for us on a very big market day thank you so much for joining us be sure to catch live coverage markets in turmoil tonight >>> my mission is simple to make you money. i'm here to level the playin ins there is always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm trying to save you money. my job is not just to entertain but educate and put this in context. call me at 1800-743-cnbc or tweet me @jimcramer. wh

. >> karen >> selling some puts >> viacom cbs has legs viab >> that does it for us on a very big market day thank you so much for joining us be sure to catch live coverage markets in turmoil tonight >>> my mission is simple to make you money. i'm here to level the playin ins there is always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm trying to save you money. my job is not just to entertain but educate and put this in context. call me at 1800-743-cnbc or tweet me @jimcramer. when will the pain stop? that's all anyone wants to know after another agonizing day where the dow plunged 760 points and the s&p plummeted 2.98% and this is because of china's latest move to retaliate against trump by turning the trade war into a much feared currency war. we had big milestones that make me want to call the bottom most other markets, that's exactly what i've been doing but in this market, i think we need to be more cautious because i fear an opening tomorrow that

., cbs and viacom. may be one with what we are seeing with drug , they are certainly involved in the business. there will be a few reports worth focusing on. of the point, the bulk numbers are out, we know earnings are up not a lot. the latest figures .1 .5%. the question is where do we go from here. dicey given a bit the potential on trade and other issues. vonnie: thank you as always. dave wilson with an update on what the market is doing. growing to $75 billion, coming to the market today. book is now basically the largest since aramco. i'm interested to which durations are selling the most. this is to find the anadarko deal. what the market turbulence over last couple of days, it is unlikely they were like to do it. softening does not look that great. islooks as if the order book substantial. i guess given the size of the acquisition, it has to be. let's look at where european markets have settled. we are through the auction process. a very negative session. we have come down. we started off positiv

liz: viacom also moving. >> here's what we know. listen, you follow the imbroglio of t-mobile/sprint. little different when you have regulatory reviews and things like that out there. it takes time. you got to dot the is, cross the ts. you have to get management structure nailed down. then you have to get price. liz: they didn't put in a self-imposed deadline. >> there's no self-imposed deadline. liz: they wanted to do it before earnings. >> that doesn't mean like they have to do it. i have been told by deal participants that they would like to get it done on thursday, make an announcement. it's unclear it will be thursday. the chances, because of figuring out the management structure and the price, like how many shares of viacom or of the combined whatever stock it's going to be, if you own x amount of viacom shares or cbs -- now here's another fly in the ointment. we should also point out, if they do not announce it and again, i'm hearing chances are slipping. that doesn't mean it won't but the chances are going down. if they don'

business since april, just to put in the media world context, $40 billion of market cap, that's cbs and viacom together, assuming they combined, plus some. so this is a lot of additional market cap with a whole bunch of questions we don't know the answer to. they're doing the right thing. >> right. >> streaming, transforming the company, but what the downdraft is, what the real risk is, we don't know a lot yet. >> and their package seems extremely competitive with netflix, at least in the pricing, in terms of what you get for the value of $12.99. but when it comes to some of the other dtc services yet to be launched like a comcast service, where does it put disney what happens to those players trying to get a streaming service off the ground themselves >> well, everybody is priced a bit differently. i think -- look, if you are hbo and you are trying to price at $16, $17 above where you are today and you've gotten -- it takes you 30 years to get to 38 million subs and you have had the mantle of the best programming around, saying you're going to charge $2 more a sub and put "friends" into the p

billion in market cap added to disney since they announced streaming is more than the value of cbs and viacom combined if they in fact do combine. so it's been a big, big run. on your question on fox, i do think ultimately the price of the fox transaction is going to be questioned. when you strip away the fact that they sold off their sky interest and the regional sports channels it's still a $50 billion price tag, but a $50 billion price tag got them national geographic channel and fx and it will struggle like all the others and tv and film library. well, a today groe we see what's happening with the studio and people are going to question the fox studio value. the library certainly has value particularly as they need content to go internationally. but it's $50 billion the right number there particularly with the investment in originals they have to make, that's a big question. >> tom, thank you. julia, awesome interview with mr. iger thank you. >>> coming up, take a check on futures. they have been trading pretty much in tandem with yields and we saw the yields up premarket session lows of

we have been talking for months the fact that backis, viacom's ceo, would run the combined country. the ceo of cbs would have a significant role as well the exchange ratio has been the key. given the history between these companies, you can never say with absolute certainty they will get it done but given where the negotiations are right now and everything else that has come prior to it, you think they will be able to nail it down soon. >> by cbs and cbs. 50,000 cbs. >> you pointed out one of the great bright spots today if you are along cbs and have bought it recently is the company, of course, we know it as a huge drugstore chain, also one of the largest insurers in the country. >> yes. >> cvs shares up almost 6%. >> a great job larry really delivered david, this is kind of a fear is fear itself fdr moment can we remember that the banking system collapsed and we were in a deflation spiral that meant we had 27%, you know, unemployment industrial production declined rapidly. what i look at here, i don't see -- the fear is fear itself is much more about this is what happens when you

they are still debating exactly what premium cbs has to pay for viacom because viacom is losing money right now. they've been a little bit depressed in the share price market cap. so that will happen, but a lot of analysts are saying they are going to be another player in the streaming wars. that is not going to happen. they are too small. they don't have the financial resources. i think as soon as this deal is done and they are a recombined company again, the buyers are going to be in line, knocking on the doors. vonnie: and who might those be? porter: verizon a year ago made an offer. i think they need something to compete with at&t, which bought time warner. you have verizon, then there's microsoft, which has 80 million xbox users deployed around the world that can stream anything, but they don't have any content to sell those 80 million xbox users. apple is pretty thin in terms of content. they are coming into the market later this year, early next year. there's no shortage of buyers for cbs-viacom. vonnie: porter bibb, thank you. porter bibb, mediatech capital partners managing p

. >>> up next, cbs and viacom merger talks going in slow mo. charlie gasparino is here with new exclusive details on the sticking points in this amazing race. charlie breaks it down next on "the claman countdown." fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? (past them because she didn't sknow they were talking to her.g and she would just walk right (deborah) i just could not hear. i was hesitant to get the hearing aids because of my short hair, but nobody even sees them. (avo) our nearly invisible hearing aids are just one reason we've been the brand leader for over 70 years. (deborah) when i finally could hear for the first time, i started crying. i could hear everything. (avo) call 1-800-miracle to start your 30 day

this is a look at disney and specifically how disney is valued relative to viacom cbs which is a big media company that will be coming together a dramatic line, which you usually don't see in a relative valuation chart. it is a forward pe of disney and the other two stocks compared to the s&p 500. hey, what happened here? a couple of things the fox merger closed, the acquisition of fox assets closed which was expensive and somewhat dilutive but increased the market cap also the analyst day, the investor day in april where they laid out the direct-to-consumer video offering and almost immediately the market revalued the company and declared success probably down the road for disney's approach right here you are seeing exactly the opposite here when it comes to cbs/viacom, trading at less than half of the market valuation, people treating these companies as essentially orphaned or doomed in the new world. whether it is true or not, it is very interesting it is almost game over in the market's view as to disney versus the rest of the industry, guys. >> okay. mike, great stuff. thanks ve

russia the country's anti-monopoly watchdog said apple maye be abusing its position >>> and cbs and viacom were expected to announce a merger, but there are talks over an exchange rate ratio. >>> the yield on the ten-year note is at 1.731, but many say we're on our way to recession. is the bond market screaming recession or something else? >> if it's not screaming, it's speaking loudly. it's starting to discount a high probable of a doleability of a e six 6 to 12 months >> is that globally or the u.s.? >> i think that would be globally i think the u.s. economy is stronger than most of the rest of the world the european economy is close to recession already. the german economy may be in recession. the asian economy is struggling as well. the central banks were cutting interest rates there in anticipation of weaker growth. if the u.s. is in recession, the entire global economy will be in recession. >> the reason i ask is because who is leading whom? you look at these negative interest rates around the world, particularly in germany. i wonder if our bond market may be signaling a recession bu

. >>> welcome back to "squawk box," viacom reporting 13 dollars a share. it's helped by a return to growth n in domestic ad sales. >> that stock not reacting too much on the back of this >>> a couple other stocks on the move to tell you about we have service lyft reporting a smaller than adjusted loss in the second quarter revenue rose 72% that was a beat if terms of the forecast, gaining more riders. they gained more per ride. the company also boosting its outlook for the year but then again there was a lockup and that's put pressure on it as well >> 157 million shares are eligible on august 19th to be traded. >> you will w5uatch to see ever single insideer. >> surprise, surprise, lyft and uber earnings going up now they have public market pressure on them as well >>> shares of roku surging, revenue beat estimates roku topped 30 million users live on "squawk alley" at 11:15 a.m. eastern time. >>> well, the countdown is on over at burger king, the fast food chain is launching the impossible whopper nationwide today following successful limited tests. you b

earnings reports include uber, kraft heinz, viacom, cbs, amc entertainment and norwegian. customers are threatening to boycott equinox and soulcycle fitness chains after news that the chairman of their parent company will hold a fund-raiser for president trump. the "washington post" hosted billionaire steve ross will host a fund-raiser at his home in the hamptons tomorrow. both chains reported on twitter they do not support the fund-raiser. some high-profile lgbtq activists and celebrities are calling for the boycott. >>> fedex is ending its ground delivery contract with amazon at the end of the month. instead it will pursue more ecommerce deliveries from other companies such as walmart and target. the move comes after the worldwide shipping business announced in june it was ending its air shipment contract with amazon. amazon is expanding its own shipping and transportation, reducing its reliengs ance on f ups, and the postal service. >>> galaxy has announced a new note 10 version. the note 10 will feature more battery room but will no longer carry a jack. there's a rainl

you mentioned viacom might as well get right to it. decent quarter they came in above -- looking for my notes here, sorry i'm like you they beat on advertising, better than had been anticipated, up three. film did a bit better. they had solid advertising growth, operating income was ahead of consensus at $757 million. overall, viacom responding positively as i said yesterday, it's getting really close i swear it really is viacom and cbs most likely early next week. >> going back and forth with backish this morning, the ceo. reminds me pluto tv, which they bought -- >> yes, he was very excited. >> yes now up to around 18 million monthly average users. that's up 50% since they announced the acquisition just in january >> advertising supported streaming service. >> we can talk about roku too. such a big winner. i think viacom has been flat lined for ages maybe it's done. >> it may be but the most important thing coming forward is the merger with cbs and the two sides hammering out an exchange ratio. this certainly helps, having a decent q

let me ask you a little bit on cbs and viacom, where is this thing going? >> i hear it is not going to happen today. that is kind of obvious. it could happen tomorrow i'm hearing. neil: well -- >> listen, it will be a big deal, it is interesting, cbs is always thought of, one of the biggest, greatest names in broadcasting, and it is, part of a company now that is not that big. if you even merge it with viacom, which owns mtv, nickelodeon, other properties with cbs, you have something like a 30 billion-dollar company which is small between tech. the question why is it taking this long? they would like joe ianniello to stay on with his contract as stablizing force with the company, sell the merger to analysts, see what happens. going forward it will be interesting. there is talk of growing the property, buying nickelodeon, by i hear they're looking to sell, shari redstone, has everything in one, is looking for a nest egg for her grandkids, children, grandkids, you name it. you know, they're looking to sell out. so, but that, i'll tell you, buying this company

i reported earlier this week that vice had been making overtures to cbs/viacom and to shari redstone probably not the greatest time to do that but the deal would make a lot of sense. it's a private company and would bring a lot of millenial eye balls to cbs and viacom which excuse old on the cbs side and young on the viacom side so that's something that could be in their crosshairs despite bob backish saying he's not interested i think that's shari's call in the end. i also think discovery communications is a natural fit with this combination once it gets down the road it's all about shari trying to get out. she needs to get out, so she needs somebody who's attracted by the bulk and the power and the range of a newly designed cbs/viacom >> well, let's see if we get a deal first you're ten steps ahead of them bill, thank you for joining us >> and happy birthday day after birthday to both you guys. >> oh, thank you that's so nice i guess we publicized it very well bill, thanks >>> still ahead, the trade factors. i sat down with the ceo of adidas and got his take on the how the u.s./chi

will it or won't it announce after the bell today an official merger deal with viacom? less than an hour to the closing bell. let's start "the claman countdown." liz: we are just getting this breaking news out of washington, d.c. the u.s. state department is having its daily briefing and right now, as you see, it has just called china a thuggish regime for releasing personal details on a u.s. diplomat who apparently met with leaders of hong kong's pro-democracy movement. hong kong of course has been roiled by protesters furious with china for what they say are china's authoritarian tentacles reaching from the mainland. waiting on more details from the story, but this could cause more agitation ahead of continuing trade talks between the u.s. and china. right now we are still holding on to gains. we are watching it, 298 points for the dow. the bulls appear at the moment to be oblivious to this constant brinkmanship between the two nations. check it out. we have the s&p better by 1.66%. as you see, the dow up 1%. but the true leadership is coming from the small and midcap

revenue for the ncaa men's basketball tournament the company declining comment on merger talks with viacom. >>> and shares of amarin pharmaceuticals are down today, down 22% company says the fda plans to hold an advisory panel meeting to discuss whether the label for its heart disease drug should be expanded that means the fda will delay its final decision three months. amarin off 22.8% >>> straight ahead, recession warning signs and the global rate race to the bottom. yet another central bank joining the club in the global easing cycle. who did it, what it might mean for the markets and your money is next. >>> and later on, aside from chick-fil-a, perhaps no fast food chain has more of a cult following than taco bell and now fans of taco bell have a new reason and a new location to celebrate over the weekend it's the taco-tel and we'll tell chgerernabout it when "worldwide exan" tus. otion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding techni

i do think it's worth noting on the heels of those viacom earnings that viacom's big plays in the free ad supported content with pluto tv. as we see disney fight it out with netflix and all of these other pay services, we are going to see the rise of these free ad-supported services. part of that is just because that digital premium content ad revenue is so valuable in this space. that's what hulu is in a lot of ways about, even though disney is offering this bundle with these three services they're going t mao make money o those hulu subscribers so i think that's something to keep in mind, there are two different battles here, one for the ad dollars and another for the subscription dollars but back to this question of what draws people into the new services, i have always heard that it's the new content, which by the way that netflix advertises with great expense, that brings people in and then what they do once they watch a new season of a new show is they just stick around and watch what used to be "the office." >> final word. you're flipping that script around it sounds like. >> al

cbs/viacom we did the kensho on it. walter, viacom or cbs, what's the play based on the merger >> if the merger happens, i think viacom is strengthened more by the merger than cbs is if your question is to pick one or the other, viacom but if the merger doesn't go through, i think cbs is stronger the stocks are off today because it was supposed to happen by a self-imposed deadline of yesterday. they couldn't get it done in time, but every report is they're still working on it and a deal is going to come through. >> joe, mcdonald's, all-time high today what do you do >> a couple weeks ago, stephanie link and i were talking. we both own mcdonald's we felt the valuation was getting high i'm glad i didn't sell any once again, mining for information on what this company is doing they're refranchising. they're now up to noichb% in terms of refranchising the digital transformation, the kiosks, the self-serve, it's moving the needle, lifting margins. think about the stock over the last four years. this stock is a double since a

viacom. this is bloomberg. g. from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you pre-order a new samsung note. click, call or visit a store today. ♪[music] news.omberg's first word british prime minister boris johnson is urging the european to show common sense on brexit. johnson wants the e.u. to says isthe deal, he unacceptable. the prime minister adds there is plenty of time to get a new before the october 31 deadline for leaving. the british parliament has deal three times. trade negotiators are currently meeting ino washington in september but recent escalations have raised the possibility that talks could break down once again. president trump spoke to reporters at the white house today. >> what is happ

>> plus the $8 billion roundup and charlie breaks it on cbs' possible tie-up with corporate sibling viacom. less than an hour to go until the closing bell. i'm susan li in for liz claman. let's start "the claman countdown." susan: breaking news. it seems like the lights are back on after reports of a power outage in london, and large parts of england and wales. the uk power company blaming a grid failure and apparently, people were stuck in the tube without air conditioning, believe it or not. i feel sorry for them. >>> let's get back to the markets because we are just a bit off. 45 points down for the dow, well off session lows as the white house clarifies only the u.s. government will not be shopping at huawei. overall for the week, the major indices are finishing lower as u.s./china trade concerns roiled the markets. chip makers making a comeback as well after the white house said they will continue to review huawei waivers for u.s. tech firms. uber has got to be the stock of the day, down some 6% in the session, after reporting a record $5.2 billion loss and revenue that missed estimat

cbs would get six out of 13 seats and viacom gets four. apple will soon start handing out special iphones to security discoverrs so they can flaws first. apple is offering up to $1 illion to find problems in its operating systems. caroline, that is your business flash update. caroline: we're going to return to one of our favorite topics on the show. it's meatless meat. newcomers like impossible foods, legacy veggie burger producers are changing the recipes and the to keep up,d trying but have lost the market share. they have r farms, seen a massive growth in sales, pie is slowly e being eroded. joe: we both grew up in vegetarian families. think about all of those fake burgers and fake hot dogs and i those es feel sad for companies because they were so early, the classic too early thing. romaine: can we admit, some weren't very good. out, my mother own.d make her it was basically borderline child abuse. they got boca burger. go into stores now, once of get past the meats, all these are there. they don't have the same marketing power. some u

viacom ceo would lead the new company. for such is loss after one of its t-shirts sparked online controversy. the design lists cities and countries but shows both hong kong and macau as independent nations. verse she says it is "deeply sorry and resolutely respects china." -- he says he will continue at the swedish event company until a successor is in place but is looking for another challenge in his career. sharesis tenure, his have outperformed industry peers . ams has offered 3.7 billion euros for ashram light. -- osram light. the offer is higher than 35 euros a share. that offer was accepted by osram's board. it was rejected by top shareholder -- by the top shareholder. francine: thank you so much. the bid for full control has started on the beach. he is on the campaign trail after pulling the plug on bullish government last week. he is calling on swift elections. tadeo. us now is maria is he ready for an election? morning.od he is 100% ready for this election he wants this election. he went out here and speaking to p

the last time they discussed this, 0.61 cbs shares for every viacom share that's where viacom wants it higher cbs is saying, your shares are trading with that baked in let's go back. >> and amass any executive payouts. that's all settled? >> a chance iaonelo stays on and he gets to stay and keep the money. that's what my sources are been telling me >> do you think that cbs/viacom merged is a stronger company >> yeah. if you look at the consolidation. everybody is terrified of disney right now, after acquiring fox and launching the streaming service. if you want to compete, you have to keep doing that >> i think just to get to par. i don't know if it makes them stronger but it puts them to be able to play with the other guy. it gets them larger to go after disney can the organizations merge themselves effectively can they put them together and make them work or will it be two things >> i think it's a great question can they tie themselves up, when they go to the cable operators and the satellite operators, do they have enough left to extract higher fees. a lot of the deals have been wor

first of all, viacom and cbs. the boards were working through the night, trying to announce maybe today that they will put cbs and viacom back together again. both companies are having a bit of trouble. the question is, what do they do when they get them back together? nejra: what a long time coming this has been. the second company we are looking at is aramco. here's the cfo on the company's up and downstream. >> the perspective of the market conditions, oracle within the country in upstream -- within the company in upstream is to maintain our position as the and crude producers increase the petrochemical production. nejra: so a 12% drop in the , tot six months of the year try and diversify away from saudi arabia. david: a very rich valuation, it seems to me. for our third company, we are looking at for saatchi. --dan -- at verse saatchi at versace. joining us now is brooke sutherland. these countries that are cities in china's mind, hong kong and taipei, this latest issue lists taipei as a separate saatchi -- by

the ceo of viacom. viacom stock will be higher if it didn't have all the trade talk the complicated merger. >> dow down 208 here to bob pisani and let's see what else is moving. >> happy monday, carl. it is a weak open. we tend to follow bond yields these days so 173 on the ten year on friday, 1.68 today guess what is leading on the downside, bank stocks. kbe, lowest level since late may for the bank index retail, industrial, energies, all trade related to the downside materials also down. utilities, naturally, are on the upside if you look at what is really going on, it is not a good third quarter, but it is never a good third quarter. this is just the problem with the third quarter. we say this all the time, august and september just really rough times for the market so we were up 13% in the first quarter, 4% in the second quarter, up quarters are not -- this is a lot, but up quarters are common typical for the third quarter to be down, we're down 1% so far. nothing unusual going on here. imagine if w

david: check cbs and viacom. charlie gasparino reporting a deal is likely to be announced after the bell today. they are working on final details and have pretty much settled on a price. any more developments from charlie, we will bring them to you. but there's a big development with the markets. they took another leg down. they were trading between about 150 down to about 200 down. now it's down almost 300 points. a full percentage point. that's a significant turn to the downside on the dow. nasdaq, not quite as bad percentage-wise. same with the s&p. again, it looks like there is some pessimism moving into the traders. jackie, what do you think about this? jackie: i think this is the point in the session where some of those fears start to become a reality. you look at the yield on the ten-year today, going down again. the china situation has not been resolved, especially with respect to currency. i think the guest was correct in saying they can't weaken it too much but that doesn't mean they can't keep it at th

viacom shareholders don't seem to be like the terms we are hearing about. reporter: some of the reporting out there, specifically dow jones, talking about a slight premium for cbs shareholders, and as far as the deal being finally done, if it gets done, this has been talked about so much over the years, it is kind of the challenge of putting humpty dumpty back together again because these companies were under the same corporate roof until the early to thousands when they were split 's when theyrly 2000 were split up. it shows you the difficulty they have been making it all fit, setting up the management, talking about a stock deal with the exchange ratios, all of these sort of details. let's just say it is not going easily. guy: i'm really curious about why not. since 2006 come of these companies are split apart. why is it so hard to put them back together again? what is it about these two businesses that don't fit neatly back together? what has changed? avid: it may be more of matter of personalities then the businesses themselves. if you think about the r

you have a deal being outed viacom-cbs. viacom down and cbs lower fractionally. the terms of the deal we are hearing about would give cbs a slight premium. cbs shareholders and investors, both companies are frustrated. maybe it is just a timing thing but right now viacom is down 5%. tractor supply one of the worst performers in the s&p. it gave a poor outlook and instituted a dividend. that has turned the stock lower. the best performer, a positive --rt ruling guy: let's talk about what is happening in the u.k.. we will talk about italy in a moment. let's talk about the u.k.. for the last few minutes, we have learned that the president of the united states, donald trump, speaking with boris johnson a little earlier on today. they talked about trade and they talk about security. it would be fascinating to get a few more details and i'm sure they will reach out -- they will leak out. longview economic ceo and chief market strategist still with us. do you like u.k. assets? boris johnson is hanging a lot on the future of the u.k. on his relationship with donald trump

many thanks to kailey leinz on cbs and viacom. coming up, we know the russians tried to tamper with the 2016 election. what we need to do to keep them from doing it again in 2020? we talk to a senior advisor to the house finances committee. this is bloomberg. ♪ ♪ from the 5am wakers, to the 6am sleepers. everyone uses their phone differently and in different places. that's why xfinity mobile created a wireless network that auto connects you to millions of secure wifi hot spots. and the best lte everywhere else. xfinity mobile is a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an eligible phone. click, call or visit a store today. david: this is "balance of power" on bloomberg television. i'm david westin. bloomberg first word news, we go to mark crumpton. disruption yetst to hong kong's economy since disruptions began in june. airport authorities canceled are many flights a day after protesters jammed that terminals for a fourth day

resisted by cbs who thought viacom was second rate outfit. les moonves resisted. this we were first to report in march, was clear les was not getting contract extended. fox business beat "the wall street journal" easily on every major aspect of the story, this thing was happening. bob bakish would be the ceo. shari redstone would be, she would get some role in this, will be interesting, vice-chair woman. bakish gets the ceo role because he is very close with shari, everything you say about viacom as a product he has done a very good job since taking over. neil: that helps. >> taking over for dauman in 2016. people have been reporting to him. we'll see "after the bell," early tomorrow, barring something weird, you know, this thing is coming down the pike. neil: yeah. >> the other thing -- neil: jeffrey epstein stuff. >> i will write a full piece on this on foxbusiness.com. i had several conversations with jeffrey epstein in march. the reason why i did, the stories were starting to heat up, there was an aspect to the story i knew about. his involvement with a hedge

markets popped to drop and is today the day for the cbs/viacom merger. less than an hour to the closing bell. let's start "the claman countdown." liz: we've got some breaking news. boeing, the stock is just now coming off its session lows after some news from the federal aviation administration. while boeing is down 1.5%, you can see it was worse earlier. we get an idea about the return to service of the 737 max jet. this controversial jet which has been grounded since two fatal crashes, one earlier this year and one late last year. new faa head just sworn in, stephen dixon, says the faa is not following any timeline but also says this. >> this plane will not fly in commercial service again until i'm completely assured that it is safe to do so. liz: boeing does expect the plane to be back in service by the end of this year but based on what we are hearing, the faa may not recertify the aircraft in time for that projection to be hit. at the moment, boeing is down $4.73. still, just barely off the lows of the session. >>> over to the markets. wall street p

viacom weres and lower today. bloomberg has learned that the ratios being discussed would value viacom at current levels. the ceo would be the leader of viacom. a canadian company said a second ontario facility breached regulations. they had already been struggling from breaches in ontario. the national football league has taken its first major step in legal sports gambling it signed a partnership with sports radar. now, the company will have a right to distribute to the u.s. that is your business flash of. ate.lash upd romaine: let's go back to some breaking news. named a new ceo. david gibbs is going to be the new ceo, to replace greg creed. create has been there since -- creed has been with the company since 2015. gibbs is pretty much a lifer here. here at oneadership of the bigger fast food companies. caroline: ups is reaching for new blood, changing their cfo. they have brought in someone from outside, from pepsico. ryan newman will be appointed as ceo. crosswinds, all the winds for a company like ups. caroli

announcement of cs-viacom today after the bell or tomorrow morning. charlie gasparino is reporting on that about a possible deal. adam, paul, are with us. charlie is trying to dot the is and cross the ts as what role joe ianniello plays at the company. assuming they announce a deal, is there larger strength with the company in the landscape, cbs and viacom? what do you make of it. >> there is a strength in a combined company. it is about selling content or buying content and that's what we're seeing here. one of the takeaways on this one, when you look at one of the reasons why i think it took so long to get the reason done, the stock deals in the market today, today we saw all facets what i've been calling the vortex of volatility in action today. and doing stock deals in this environment is just extremely difficult. i think today was the ninth consecutive day the s&p 500 had a 1% intraday movement. those movements used to be few and far between. it is almost like a daily occurrence. stock deals like this will be more the new normal. connell: that is

cvs and viacom are keeping investors waiting on news of their merger. the media giants work specter to announce as soon as yesterday for talks have -- but talks have dragged on. the current instructions -- discussions would value viacom are on the current level. five, investors may not get the premiums they would have liked. that is your bluebird business flash. -- bloomberg business flash. year bond yield falls to 3% for the first time since 2016. ask license and the trade war and fresh signs of a slowing economy have repelled a rally the government knows. data released on mondays suggest in july the country's credit demands fell to the second lowest amount this year. this is likely to increase pressure on chinese officials to boost their sales programs. roelof salomons it still whether us. if the fed is considering boosting stimulus, you would see investors piled into u.s. stocks. is he going to work the same way ?n china yucc >> the chemchina's to watch the monetary data. growth is slowing. they probably will do some stimulus. they have the room and

cbs and viacom are keeping investors waiting on murders sure news. that the current recession would value viacom at the current level -- investors may not get the premium they would have liked. the u.s. judge has reinforced in order for american airlines mechanics to end alleged slowdown. the carrier says it has a devastating effect and americans a suit of the union in may, arguing the labor group was doing it to pressure the airlines into a contract agreement. it is time to consider shorting u.s. tech stocks according to socgen which cites increasing regulatory scrutiny. last month u.s. justice department sent its strongest signal yet it is prepared to take on facebook and google. and that's your bloomberg business flash. >> thanks very much. olivia hows in london. minutes away from the open. up next, the stocks to watch, including the maker of the personal laundry detergent, cutting its 2019 guidance as quarterly profits missed estimates. this is bloomberg. ♪ ♪ welcome back. this is the european open. we are just about eight minutes away from t

protesters are waiting to see whether cbs viacom merge. -- cbs and viacom merge. they have been in talks for years. the finance ratio has stalled latest negotiations. a deal could be announced today. --ther sign verizon is selling tumbler to automatic. terms of the transaction were not terrio, suggesting tumbler sold -- material, suggesting tumbler sold for a fraction of what it fetched in 2018. tom: so much going on in argentina and the markets, but we need to stay on the hong kong story. hours ago, the hong kong chief executive. >> at arch everyone here to put down their prejudices, try to calm down emotionally and think seriously about our home. do we want to see hong kong fall into an abyss? tom: joining us from the hong kong airport is yvonne man. what is different today from monday? yvonne: size of the crowds are getting close to what we saw on monday. i would say thousands are out here again for the fifth day of protests. what we have seen as the protests have moved from the arrival hall to the departure. south dates into emigration and security have been s

with viacom, it's a smaller, nimbler company now. so i think shari, i think she's going to be more of a buyer than a seller i wouldn't rule that out 24 months from now. >> you think she's more a buyer? >> at this point there's a bunch of smaller networks, smaller studios out there for sale i think sony is the only other sort of target that's of any real size that, oh, wow, that could be a thing there have been reports from discovery last year. that would add, but that would add in the sense of the fight for these licensing deals. again, that era, i feel, is coming to an end. >> so much about this situation has been telegraphed in the press. what happens if the deal gets announced, with roughly what's expected and both stocks plummet? >> yeah, well, that will tell you that a sense of your prospect in my company aren't necessarily better as separate companies. >> you think this deal would be ironclad you don't think either could walk away? >> i think they could still walk away she can't interject herself in this process based on agreem

dagen: viacom agreeing to terms on a deal, charlie gasparino on the telephone with daelz hey charlie. on the phone: long nightmare i keep saying this on deals forever and forever, this thing, from what i understand from sources close to both companies both viacom, cvs is done, the parties have reached a merger agreement agreed two things that were holding up exchange ratio that is the price of how much you get you in own cbs versus how much you get if you own viacom shares both companies separately traded entities controlled by national amusements run by redstone family sumner redstone out of pocket ailing mogul sheri runs the show you put them together, and both sides have to get certain amount of stock, cbs bigger company so cbs gets more more value than viacom that is what they were working out last couple days delayed decision yesterday a lot of people thought he was coming down till today, they worked that out other thing wording out the keeping joe ianela. >> the announcement i hear announcement coming after the bell today, to see how long joe is locked in they want to keep him

viacom shareholders not getting much of a premium. last year they did agree on a higher ratio, but that was based on management teams then. a few things have changed. viacom will argue that they've gotten stronger since then. then tong its ceo since a slew of sexual harassment allegations. what cbsalk me through and viacom get from this merger. >> the big thing they get is scale. that is the buzzword in media these days, especially when they're trying to compete against the netflix of this world. netflix is spending more than $13 billion in its programming. it is difficult to compete with players like that. cbs and viacom will be combining paramount studios, nickelodeon, ,bs all access, cbs networks the number one most-watched tv network in america. number ones the network in america. at the same time, paramount studios has been having a tough time. even nickelodeon has been struggling. does it compare with the disneys of the world? is the big>> that hope that this gives the company is a chance to compete with the disneys of the world