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

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

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

>> that's true >> viacom buyback doing a great job. obscured by this it is incredible how good his over the top is doing, they have the first advertising bump in a long time. this is a space that is just -- >> i wonder, broadly, what the environment is doing, you think, to sentiment on m&a, international getting regulatory approval, uncertainty over pricing, right >> it is bad i pick up the new york times, they have a lead story, the business section, basically says that everybody in the valley is -- i read that, like, holy cow this is the new york times but one thing is clear, if i were one of those companies, i would be afraid to buy somebody. if i was a faang company, i would be afraid because of concentration. those are natural buyers, great balance sheets alphabet, they would be a natural buyer. i think they're feeling -- i better not buy it. it is time to make it so that we're not on the radar screen. so they're the ones that i think are most vulnerable to not being able to take advantage. >> that's called being defensive. we'll

the ceo of the combined company to be called viacom cbs. this is what he told our andrew ross sorkin about the deal and about content scale earlier this morning. >> you look at content, we clearly have scale and content between the studios that we operate, paramount television, cbs television studios, nickelodeon, viacom international studios, a library of 140,000 television episodes, 3600 films, we have 750 series ordered to or in production. there is true content scale here >> obviously on a moment like this, got to bring in david on the phone, david faber joins us to talk about the deal and the mixed reception to the notion that cbs might have a big dtc offer. >> i think that's a key point, guys by the way, the show is really good i just want to say that, watching from my hotel room, i realize why it is so popular you don't even need me that said, sorry wasn't there to deal with what we have been waiting for, for years, the third time did prove a charm in listening to bakish speak to andrew sorkin, they are going to make a lot of their d

. >> the other big news this week was viacom/cbs the predictions of whether or not they have the scale to fight with the big boys. do they? >> it's funny to me it wasn't that long ago they broke up. the idea was, oh, you know, you separate, you get a higher valuation from the markets place. that wheel has turned more than 180 degrees. there is an open question, is this big enough to compete in today's media world? does it need to merge? does it need a vertical integration like at&t or verizon or something like that i do think it still has a lot of good brands. cbs streaming service, you know. a lot of the attention is on how many of these direct to consumer products can we have and i think they moved -- you know, they shouldn't have waited any longer my guess is they will be in the top five or six and probably do have the scale i still think it's an open question whether they need a bigger partner. >> do you think the spurs and a continued wave of consolidation the space -- and i ask that in part because increasingly folks are looking at big tech companies and whether or not they are i

emily: viacom ceo there. coming up, softbank's massive fund makes its first ever energy storage send that set. we -- set. we find out what energy fault is with the ceo. this is bloomberg. -- vault is with the ceo. this is bloomberg. ♪ emily: softbank's massive vision fund made its first ever energy storage that, investing in energy volt -- vault. this company stacks concrete blocks in a tower that can store and release energy. it is presenting it as a solution to lithium batteries, claiming it can't supply electricity 24 hours a day. to discuss what this means for the energy storage market, i sat down with the ceo. >> we have designed an innovative new system tower. it includes a six arm crane and 35,000 metric ton bricks that are all orchestrated with a proprietary -- software set, so that is the whole system integration. we take excess energy from solar or wind when it is produced and not needed. that energy is used to raise the blocks and when the energy is needed by the grid, we lower those blocks and d

cbs and viacom finally inked a merger deal. we will talk to viacom's ceo about synergies and the road ahead. what slowing economy? chinese online retailer alibaba defies the slowdown of missed a -- amidst a trade war with sales surpassing expectations. first to our top story, it was a big week for tech ipo's with fleet work and cloudflare filing to go public. the web security company cloudflare has been in the news lately, given its relationship with controversial message board, 8chan. three alleged gunman posted manifestoes on 8chan before three separate mass shootings in the united states. cloudflare stop providing services after the latest shooting in el paso, left two dozen dead, largely taking the platform off-line. so, is now the time to go public for cloudflare? i discussed it with liliana baker and will curtain. >> like many other tech ideas, -- ipo's especially in software, , it is not profitable. it has a pretty good growth rate though. it's really trying to look at its competitor, fastly. fastly went public earlier t

had the story come out late friday >> that is an area that has been a black hole while you were away, viacom did a merger >> yes, they announced a deal, yes. >> he joined us. >> i did call in. >> you did call in >> briefly we had a discussion about it there was some distress that the synergy numbers announced were lower than the street had anticipated. >> that's what i -- >> often times it is what you like to call underpromise, over deliver. and that may be the case here because i did hear higher numbers associated with the potential deal, than they came out with that seemed to be somewhat of a disappointment overall, the sector not doing particularly well. particularly since disney's quarter, which we all know is less than stellar. certainly for disney. >> good numbers. and then this is one of those that reminds me, one of the most discouraging things i've been involved with in the last couple of years dupont i think dowdupont separate would have been worth more viacom/cbs, clearly separate, at least in the beginning interesting. >> they're getting together. and the question obviously will

i have him on speed dial this is outrageous >> viacom will pay their ceo well mr. bakish, ianniello staying on he'll get his $70 million when he leaves, ianniello, could be fairly soon, we'll see and you and i sit here i make fractions of what you do. think how i feel. >> i'm a loser i'm not what i appear to be. >> yeah, i mean, bakish will make 55% more this coming year than he made last year and i saw one table that puts him now, will be in the top 20 or so paid s&p. >> you look as the list, you'll see media ceos among the top -- >> my company -- >> say again his helmet antonio brown -- >> i'm appalled. >> you work a lot. >> i work my ass off i was up at 3:30 this morning working. >> harder than pretty much anybody i had the pleasure of knowing. >> i was tweeting how bad the canopy growth conference call was, 3:30 in the morning >> you read the jcpenney call. >> yes, i did. >> why >> guys wake up at 5:30 -- >> right i get up earlier than the bad guys i'm underpaid versus the bad -- cf cfos make more money than i do how is that possible >> i'll show you how much -

the other day that fella who runs viacom, he showed up on another show >> that was only because i was 100 miles away >> i've been working to get that >> that's never happening. just, never. >> where was i i just think that keith block is a guy who closes he closes. now, splunk last night, i like that conference call, but doug is switching the way he accounts for things they had gigantic orders, but he's switching to a subscription business that's not unlike what happened when adobe switched and went down. last chance to buy adobe buy splunk right here, right now on this downgrade. >> interesting sales force more of the same though >> i think sales force's quarter actually lagged. vm ware has been hit badly because it's been pivotal. a pivotal buy. so sales force has been the big laggard. a lot of people don't like the data deal. i bet that keith block explains it just like they explained mule soft, which was a brilliant acquisition. i think it was the right acquisition. we'll hear tonight a lot of people think it could be a shortfall >> but yesterday the money >> actually, i'll be on

so this is a very strong -- you know what, david, this is like viacom and cbs it created a lot of money, a lot of wealth with morris and altria but you know what, this market is growing so quickly. i totally understand >> what i am interested in, in part, though, is the differential in market caps would have indicated this would have been a purchase by philip morris however, in this press release they're talking about it being a merger of equals, which would mean you're obviously greatly increasing the value of altria to make it a merger of equals. >> yeah. >> and we'll see what the respective -- and by the way, they're probably negotiating something else, but what the respective ownership would be of the two shareholder bases, management typically merger of equals means share of board, similar ownership, management combined [ bell ringing ] >> i remember altria, a 45% stake in -- i remember when it was a growth vehicle and now pm is not growing at all. altria switched in terms of the dividend >> let's look at what's going on at the big board, you heard the opening bell great plains ene

. >> right there is somewhat analogous to cbs and viacom, they worked together, separated and now coming back together, conceivab conceivably, in order to have more scale in a rapidly changing -- >> the core product is not bad for your health. not like the overall world of consuming entertainment is going away >> no, it is not people are doing it in different ways they're vaping their media these days bob pisani has more. let's join him, bob? >> on the downside, again, trade wars, economic uncertain ty weighing on us, look at the global markets, we're slowly getting out of august. good to remind everybody generally down, small move up in the shanghai everybody is down 3% to 4% it is remarkable in august how down the markets are we're down 3%, 4%. shanghai, japan, germany, spain, doesn't matter everything is down 3% to 4%. we talked about the defensive dominance this month with utilities and reits up, consumer staples flat and all the cyclicals to the downside. defensive, utilities and reits up, oil is up, oil is held steady in the mid-50s. oil stocks continue to drop in the last couple o