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tv   Fast Money Halftime Report  CNBC  July 26, 2019 12:00pm-1:00pm EDT

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people listen. be interesting to see if we're in for a new generation of i.p.o.s off this new population. >> and what happens to them. the strategy is get in late stage, put a lot of money in, pump up the valuations we saw what it did to uber. >> absolutely. don't forget next week china and the fed. let's get to tyler and the half. thank you very much. go to the bullpen for the veteran right hander, scott wapner is off today. all a flutter over twitter easy as abc for alphabet. it is noon and this is "the halftime report" >> a tale of two fangs, alphabet soars but amazon stumbles. where these two go from here twitter flying high on strong results. the stock now up more than 40% this year. is it a buy from here?
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the american economy slowing, but not as bad as expected will it affect the fed's next move and have stocks already priced in a friendly fed plus a big upgrade on the big banks, buffett making a play too. is it time to get bullish on the financials the halftime report starts right now. it is good to have you with us on this friday. not as hot a friday as it was last weekend our investment committee today, joe, stephanie, zarod, josh brown and ron. >> i haven't this many friends around me in a long, long time. >> since high school that's good. >> yeah. the s&p 500 record highs nasdaq and nasdaq 100 hitting new all-time highs as well with the fang trade front and center. let's start with amazon versus alphabet who wants to talk alphabet >> sure. >> go. >> i mean, i own it.
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it was a very good quarter i think that google sites growing 21%, constant currency up from 19% from last quarter shows you last quarter was the aberration you didn't see this massive deceleration that was lasting. that's good to see a resell ration i think people are excited the disclosure on the call was better still a lot of question marks riding that but at least it was a little bit better. >> didn't talk about a regulatory risk until the end of the call. >> right but i think the bigger surprise was the allocation, they have $25 billion in cash and buying back a $25 billion program. so the expectation so low and the valuation kind of reasonable -- >> up 11% or so today. why has the stock been so unloved. >> i think after the last call there was no clarity it was like we will not give you any guidance and we're not going to tell you where things are going to go.
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so people were looking for real metrics and the underperformance you had seen and the overdelivery on the metrics we were looking for and look at cash flow, which is the most important one we're buying back shares, we have regulatory risk and so does everybody. you have to bake that into your numbers like facebook did with 5 billion. it's attacks really on their earnings. >> the president came out this morning saying i hope google doesn't have any problems in china. we'll find out the market didn't react whatsoever so they're looking at a regulatory risk when you have growth and issues of this type in all the names amazon notwithstanding, it's a blip on the screen. >> we'll get to amazon in a minute looks like search is, as always, the engine there. >> advertising >> advertising and cloud. >> and cloud >> cloud is growing and they're disclosing numbers on cloud. >> aren't they a kind of -- aren't they a number three in that business? >> yes
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it's 8 billion for 36 billion at amazon which is why amazon going to 37% aws growth isn't that big of a deal it's large numbers microsoft is 17 billion. >> being third in a business -- >> is okay. >> that's one. two i think a lot of the street were thinking more like 6 billion for analyzed cloud revenue and google is on an 8 billion run rate, ahead of expectations 40% growth in quote/unquote other. so 40% of the revenue comes from advertising and cloud and now you have this other unit with some of the bigger bets they have made starting to surprise to the upside. >> you own it you said. >> um-hum. >> i own it too. >> own it. >> do not own it. >> would you add >> everyone owns it. everyone in america owns it, it's one of the biggest holdings most people are in an index or an active fund tracking an index. so i think it's good for the markets overall to have a
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company like this where expectations were low come along and say we're not going anywhere, we're still google, still alphabet. >> it's a huge name. >> it's 3% of the s&p. >> right. >> would you add it, absolutely. >> why would you not own it? or why do you not own it >> from a perspective of looking at technology overall, the semis have been the place where there's been opportunity, a lot of strong momentum in the semis, that's where i've been i mentioned last week i had gotten out of the smh, i had some capital i was looking to deploy once i heard from the fangs. to me amazon is indicative to what we hear from the s&p every other day, which is basically if we ever get a pull back in the market, that's great i'll be a buyer. here you go preside you got your pull back i put a bid in this morning, got filled at 1929 love the fact i got open the revenue growth is there. yes, i understand one day is going to cost them more.
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they'll figure it out. they always do figure it out from the regulatory risk standpoint, although jim stuart made an excellent point you have to look at margins you're talking about companies running 22%, 30%, the profit margin for amazon is nil so i think the regulatory risk is less than the regulatory risk is with facebook or alphabet >> you and i have talked about quality stocks i'd like to flip for a second to mcdonald's and starbucks, those are killing it we talked about even if if you don't play in technology, there's still these high quality names that are executing really, really well -- >> in part because of technology. >> absolutely. mcdonald's bought an ai company out of israel, helping to customize menus -- so there's a lot of fascinating things. >> i don't know how mcdonald's finds a way to beat comps to this degree. >> since 1971. >> they've had some ups and downs. i'm saying in recent memory the
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new ceo -- >> he's killing it. >> -- 5% comps this is a very, very, very mature business. and he's finding levers at all times. so that's pretty impressive. >> let's take apart amazon a little bit more. what did you see there yesterday that gave you cheer or wanted you to drink a beer? >> aws growth that was terrible, wasn't it? decline from 41% to 37%. >> to 37%, yeah. >> it's a typical street overreaction to a perceived slow down it's the same as it was for alphabet at the last quarter everyone does -- excuse me, everyone does own alphabet but on the mutual fund side holding of alphabet was the lowest than it has been in three years so there's a lot of room for people to come back in once again and i think we're making the same mistake looking at amazon and determining the best days are behind it. >> retail unit growth expanded
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8% e commerce grew 16%. that's also huge the last couple years, the retail side of the piece has und under whe under whelmed. to see that that shows you there's a lot behind it and the growth can continue. if they want to spend away, spend away but the growth is there. >> you know what's funny, people were saying with walmart and target e doubling their efforts on e commerce, that's potential for amazon, it actually validates the idea that more and more of this type of spending, even grocery is going to migrate online it helps that people get into that habit, whether it's walmart or amazon that drives them to that habit it doesn't matter because the growth in e commerce is still so strong after all these years.
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>> when steve mnuchin said depends which me trick drives the retail sales amazon has it's between 4 and 7.7% they're a monopoly they're not. there's a lot of politically motivated rhetoric that has nothing to do with the fundamental business that's why people look through some of these comments. >> you get google and facebook with real regulatory risk and amazon with political risk both could be as big as each other. >> is there a would you rather game we could play, amazon versus alphabet? >> i don't think professional investors are playing that game. they're either investing or not, or in this case over waiting or under waiting relative to the benchmarks. >> in my portfolio i'm more overweight amazon than i am in google i want to be in google but they had issues, stumbles, like we
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talked about, maybe that changes maybe not but amazon the long-term, i think the growth rate and the adjustable market is huge for them that's why that is a bigger overweight for me. >> that goes back to my point, amazon is a much bigger position than alphabet. i think at a certain point you have to wonder are we borrowing from some of these fang names to get in and out and go from one name to another? facebook approaches 210 now it's below 200. were people viewing the earnings of facebook to say okay, maybe i'll take something off, maybe a netflix or another fang name but i think they're interchangeable. >> any worry about the international business with amazon that was a weak spot, they lost money internationally, is that right? >> it's the smaller part of their business it's the second inning in terms of the international growth. so they're spending so much more. >> these numbers did not include
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prime day, either. >> no. >> that was third quarter. let's move to twitter having their best day in three months hitting their highest level in nearly a year. beating earnings estimates you bought twitter recently? >> i did i followed josh. he's the one you have to give props to, he's been behind the name for a long time. >> awe that's very nice. >> you followed me into walmart, i'll follow you to twitter i give this credit to josh but i built a small position starting last week because i did think that the engagement numbers sounded like they were going to be good. and they were, actually, in fact, up 14%, best since 2017. so i think this one is probably the least owned of the fang-like names kind of thing. i was waiting for guidance and guidance was lowered but not as bad as expected. they now derisked the numbers, you have the olympics coming up,
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the election coming up -- >> the election is going to be -- >> i wanted to be involved you have to give him time on this one. >> twitter has been -- i've been in it since the i.p.o., there's been a lot of years where it was a terrible performer, and i added to it. i just always had the feeling if you can get the audience to continue to come back, ultimately you will find a way to make money with advertising that's how ever advertising business on the planet works they just weren't as good as getting personal details of their users as companies like facebook so they were in the shadow let's talk about twitter in 2019 this is a company that's been profitable for seven quarters. it wasn't long ago people were saying they'll never make money, they had half a ceo, revenue up to $841 million. twitter could be at a quarter billion dollar run rate by 2020. this is a bigger story i think video has gotten them
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there. switching to this daily average user metric versus other metrics that weren't fair to them. that's been a boone. there are a lot of things to like i feel if they can stay on this pace of advertising growth and daily average users, there isn't any reason why the stock wouldn't get higher valuation. >> what did twitter do right >> i think they got video right. they did a good job with video cards. they've made big media companies their partner on big events. we talked about women's world cup soccer this summer the election the election is a twitter election let's not leave any -- let's not leave any doubt on the table about what's going to be the most important media platform to own for both the primary and the election so that's all going to take place on this platform so twitter, it's up to them. they could blow it or they could
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really pull every lever they have and make a lot of money from it. that's just one event of many that twitter owns. including tv premiers and season finales, launch of new things, like disney set top box and every movie that comes out every company that wants to have their product scene is turning to twitter to generate buzz. it's undeniable. can you make money from it or not? i think dorsey is showing us they have figured out a way finally to monetize this stuff it's not hurting the user experience because people are showing up every day. >> there's another angle there's the allocation angle when you think about twitter twitter is finally, to josh's point, showing the growth. you're a money manager you look at size class, think of small caps, mid caps, large caps, then you say i got twitter. twitter falls into a mid capsize, just got above $31 billion today. from a size class perspective --
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>> it's tiny for the category especially. >> now it has the ability to show the growth i think from an allocation perspective, that's one of the biggest catalyst twitter has going for it. >> any final thoughts? >> content producers in the smaller class are going to syndicate programs across multiple platforms, whether it's facebook, twitter, youtube you are going to get programs distributed out among all of them simultaneously, drawing advertisers from each and every allocation you make. there's a class of business that's based on content that's going to affect a lot of these different -- >> to that point i think this is a key point. the advertisers in america, who are spending tens of billions of dollars do not want there to be a do-oply with facebook and google and then they have to tow the line and figure out both companies and how to get a better deal. they have always wanted there to be another platform out there, they thought it would be snap.
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that turned out not necessarily to be the case twitter has the opportunity to be the third platform. it's nowhere near comparable to alphabet, youtube and snap but it's got a chance. >> they have a deeper bench as well >> they had to put on a lot of people too in terms of audience cure ration and so forth >> yeah. >> that's been an expense they've had to endure. >> that's not going away. >> i think steve leaseman is on twitter right now. he's looking at something there, it's his device as we pivot to gdp growth. >> i was going to ask josh if monetary usable daily is a gap term. >> yes >> it sounds like a message for somebody who wants to own the stock. >> thanks for coming by. >> this is monetizing in real time gdp slowed to 2.1%, steve. let's talk about it a little bit senior economics reporter. is that growth going to do
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anything to the fed's attitude >> i don't think so. i think they made up their mind they were going to cut i thought it was a more consequential number than they gave it credit for they steered the market towards this rate cut. it's still on. there are still aspects of the report that perhaps support the idea of a rate cut the idea that capital spending is slowing another point was, did you see the federal government spending number in there, tyler >> yes >> 7.9%. do you know when it was last higher than that the financial crisis, 2009 the post spending. >> and they just passed a budget that increases spend -- >> in two years. i didn't see the contribution effect but it was a big number we warned about this all of last year because the economists don't count government spending the way it actually occurs they accounted for it in the year it was passed where it seems to dribble out over more time than that
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it may not be there forever, as high as that, but that may come off. i think there is argument on both sides of the table to hold and to cut i think it's the cutting -- this is an interesting chart. this shows how much of the strength in q 1, the 3.1% number actually reversed in each of the categories it's also a hint to how much the trade war might have affected the data, both positively and negati negatively a 1% contribution to gdp became a 1.1% drag in the second quarter. .5% of inventories became a 1% drag in the second quarter the noise created by the trade war is different than the neg tiffs created by the trade war. >> with all due respect to my friend larry kudlow, who i have
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did deep respect for. >> here it comes. >> i don't use it in the sarcastic way people use it. larry said it was severe monetary tightening that slowed the u.s. economy several years ago economists were saying the fed were too easy and needed to raise rates in 2011. now it's severe tightening and holding back the economy to steve's point it's the trade war holding back the global and domestic economy there's some justification for them to stop after one some of what larry had to say i took issue with this morning because i don't think as he promised we're having an investment-led productivity-led boom >> that's my question, business investment, why has it not quickquic kicked in? >> because of the uncertainty. >> why would i put money in -- >> that is a long tail
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investment versus something shorter and a better return. >> the final words are the most important, the consumer has not waivered at all over the last six months strong, 4.3 -- >> it was 4.3 but in last quarter it was 1.1 because of the shutdown so you have to average it in i agree with you, i think the consumer is very strong and manufacturing is very weak we heard that in earnings this week, right. mcdonald's and starbucks versus cat, 3m, dow. >> boeing. >> it's nice to see the consumer did perk up and that's 70% of our u.s. economy. >> the percent of manufacturing -- >> right. >> manufacturing generates most of the headline volatility and some of the actual volatility in things like interest rates, those data points on manufacturing. but as a percentage of the economy it's been shrinking for decades. and becomes less and less
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relevant to what's actually going to happen with things like gdp. >> the one thing i would say about that is when you look at the rest of the world, manufacturing is about to contract hence the record $13.7 trillion in negative yielding sovereign debt you see overseas. i would make the case quickly here the fed should do one and done and sit back the rest of the year and become data dependent again and not listen to the noise about pushing rates down back 50 points. we're not in an emergency here. >> final thought you're ready to go >> very quickly. the better than expected number today will color the guidance of next week. it means they may not promise more >> hashtag, monetized. >> yeah. >> he's ready to go now. >> a gauge for somebody who wants to own the stock. >> steve, thank you. have a great weekend the question is have stocks already priced in a friendly
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fed. mike santoli joins us now. what do you say? >> i say it's obviously at least partially sew. it's part of the context why we're up as much as we are probably not the entire story. it's an unusual cycle, up 20% in the s&p in seven months leading into what is universally anticipated to be a quarter point cut next week. obviously the bond market has been pricing in the this cut fully for at least a month right now. corporate yields which i look at a lot as an anchor, they are now back down to multiyear lows. so whatever financial financial benefits you're going to get it'll take a confirmation of what the fed is going to do. the trend looks higher, maybe what the market is telling us it's not all about the fed
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because we have a 2% economy with low yields and inflation. seems as though we priced in a lot of what the fed can do and the question is what's behind it, in terms of the 25 to 50, though, i think when you look at the gdp number today, the interpretation of what the fed's up to is it's kind of a technical adjustment they really just need to get short dated treasury yields down because the rest of the world is so far down it's conspicuous to have 2% on a three-month yield which means 25 basis points and done doesn't make that adjustment for you because then you would be down to around 2% on the fed funds anyway, not to get all mechanical about it but it seems as if the market is going to be looking for more from the fed. it's not clear to me that's going to be the next true catalyst for this market as we sit here up 21%. >> does anyone in the group think the market has not priced in a fed cut >> no. it's completely baked in this.
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the market has certainly priced in a fed cut but i think more and more understanding the economic number that is we're getting, this is about the rest of the world. we're making this move because of the weakness in the rest of the world. we'd be better served to lend them over the next three years an alphabet or facebook or adobe. or one of our technology companies. let's move them to europe for the next three years. >> try to stimulate growth. >> yes. >> what is the market pricing in, one and done >> no. >> three quarters of a point by the end of the year? >> that's what they're pricing in, three quarters of a point by the end of the year. >> i don't understand the transmission mechanism of this we're going to do a cut to perk up german automobile manufacturing and that leads to paris having a better start up scene? what on earth is any of this about? i have no idea if you saw these numbers and
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only paid attention to economics in let's say the pre-financial crisis era and you looked at this number and i said, you're in charge of the board, cut, hike or stay stay what are we doing? >> but the fed is worried about two things structurally. >> optics and career optics. >> i don't think it's that when judy and shell get there, that's where the career risk starts right now it's risk that inflation stays too low for too long and the trade war is distorting global economic activity so much they're taking out an insurance policy. >> the notion is nice -- >> it's a take back from december. >> i don't know that it works because so much of this is not about liquidity. it's about sentiment. >> you go back to the consumer being strong, manufacturing being weak and you invest the
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way you invest and that's not a bad thing. >> we need to wrap up the longest a-block in the history of halftime report there's a lot of letters left here, a b, a c, a d, an e and i believe an f here's what's coming up in the other letters of the halftime report. >> announcer: betting on the banks. why one firm says now's the time to buy a handful of the big financials even warren buffett is upping his stakes we're looking ahead to the biggest weeks of earnings, the desk is hitting apple, under armour, verizon. starbucks surging more than 5% on its results a month after similar gains the trend continues with the stock gaining another 4.8% for more go to cnbc.com/kensho
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the halftime report is back in 2 minutes. [ dogs barking ] what about him? let's do it. [ sniffing ] come on. this summer, add a new member to the family. hurry into the mercedes-benz summer event today for exceptional offers. lease the glc 300 suv for just $419 a month at the mercedes-benz summer event. going on now.
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i am bsuperhuman. things that money cannot buy. oh, like your soul back. your brother took my soul. the boys in the lab made me a new one. i'm black superman. black superman is good. very good. there's two of us and one of him. time to work as a team. [ screaming ] i'm sue herera here's your cnbc news update. the fda has improved a new warning about an increased risk of blood clots and death with a
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10 milligram dose of xeljanz the u.s. weather agency is warning that record breaking temperatures will become more frequent due to climate change a spokesperson described the temperatures in europe during the past week as unbelievable. >> what's significant is that normally when you get a temperature record broken it's by a fraction of a degree. what we saw yesterday was records broken by two, three, four degrees it was absolutely incredible a suspected meet rite has fallen to earth and landed in a rice field in india. it weighed about 33 pounds, had magnetic properties. it will be sent to a lab where it will be examined in detail. you're up to date, that's the news update at this hour. >> it's either a meteor rite or a large grain of rice.
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>> indeed. >> we have the word on disney. >> disney said "aladdin" is set to cross the $1 billion box office mark today, about two thirds of the ticket sales coming from overseas this is the third to reach this mark and the fifth disney brand to do so along with beauty and the beast, the pirates in the caribbean. they're within a percentage point of record high from that stock. >> josh you own disney, you were saying a moment ago it is the ultimate consumer stock. i can't imagine if you were building a portfolio of individual securities you would not have disney as a core holding. >> i think that's been the case for generations. you know, the thing with disney that i've said consistently and i've always believed this is that the technology will always change think about "steam boat willy" a
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black and white, quasi silent film and you had the innovations in radio, tv and video games they don't always get it right on day one the netflix deal in 2013 was a stop gap message until they figured out what they wanted to do with direct streaming it wasn't a good deal for them, putting their content gave netflix an advantage and head start everyone had to have netflix because of disney's films. they figured that out. they've been working on this project and now this fall you're going to have find out how powerful this company is when it sets its mind to dominating the next phase of consumer media technology and so i think there's a lot of excitement about that. but put it aside disney is a consumer business today. and they make money in so many ways from a situation where like we saw this morning from the gdp report, 4.5% growth in consumer
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spending from the first quarter to second. it's tremendous for disney they're selling things to everyone at all times and not just here, globally. if you want to own a stock with exposure, you could do better than disney, maybe but disney is a no brainer. >> ahead of next week's fed meeting, doubling down on bank stocks, easing monetary policy will boost financials and city goldman, bank of america will be among the winners, all three stocks getting an upgrade to out performance. it's our call of the day any thoughts here? >> it's interesting. if you're right about one and done in terms of the fed, then that means that the money bank earnings estimates actually go up because most of them have already baked in three cuts. so if you only have one, obviously optically the numbers are going in a different direction than they have been for the last several years second you have a very, very
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trag attractive allocation program happening. they're all buying back stocks, just increased their dividends if they're right about the cycle extended, then that will benefit, every company talked about the consumer and how it's so strong. the stocks have outperformed i actually added to bank of america after they reported. >> two more things i agree with all of those, valuation they alternate two to ten times earnings buying solid companies, great balance sheets the second one we saw finally some lending coming back i think that's going to be a boost to their earnings going forward. the last six quarters lending was come douwn and it's all abou interest rates now if you get stabilization on interest rates, the companies are long down the road. >> i'm long citi and j.p.
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morgan the companies resistant to change their model in the banking industries are the companies not performing well. citi the focus on earnings, the consumer division fantastic. goldman sachs, they recreated themselves any of these companies that were frustrated by the regulation and raised their hand and said we want to go back to the old days and continue focus on trading. they're not appreciating the ones that have changed, citi, j.p. morgan and sacks. >> they're diversified, not just one stop earnings. >> and they all have coffee shops now. some trades on some of the stocks that will report earnings next week, including apple, under armour, verizon and chevron. e lfmeept tus after this when it comes to your customers' expectations,
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there's one thing you can be sure of. they're changing by the nanosecond.
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that's why cognizant created a unique engineering approach to design and build new digital products. learn how cognizant softvision designs experiences and engineers outcomes. ♪ cool. ♪ welcome back to the halftime report next week the busy week for earnings let's trade some of the name first up, josh is apple. i think the report is friday what's the key here? >> you're not going to have blow out numbers in any hardware. this is about services that's where the volatility, upside or
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down side will come. regardless of what happens you're talking about one of the best companies in the world, selling at 17 times forward estimates, it's reasonable to be long here. verizon, joe you own it, thursday is the day. the consensus is for an eps of about a buck 20. >> if you expect it to get back to $61.58, the highs back in november that's not the story. this is a longer term investment, this is the build out of 5g they're ahead of at&t in terms of the locations in april they rolled out multiple cities i'm staying with it either way i don't expect much out of the upcoming earnings to get this mov moving to the upside. >> stephanie you own under armor it comes out tuesday. >> the restructuring is still making progress, margins headed higher inventory lower not expecting much on the top line but they're continuing to execute. >> chevron, you own it. >> we do
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it's going to be interesting we'll look at the capital allocation story, the cash flow story. the dividend is almost 5%. the question is what is the return on investment. >> are they better off not getting that deal than getting it >> i believe so. they were better off not buying anadarko they stuck to their knitting and that's going to show in the stock. we like the stock as management is well controlled. up next josh brown's advice for young investors on when is the best timtoe invest. it may surprise you. halftime is back after this.
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welcome back, everybody. we have a new edition in our educational series for beginning invests it's part of our new initiative called invest in you, ready set go it's part of acorn's savings and investment app josh brown and his colleague take the video on the best advice for young investors bill welcome good to have you here. >> thank you. >> good colleague of josh's. one of the things you guys point to, i don't mean to overstate this, is the idea, obviously
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markets are at record highs right now. that's not traditionally a great time to invest a better time is after they have plunged, right >> sure. and my personal opinion, it's always a good time to invest we try with our clients to get them to think long time frames, meaning probably 30 years, the typical retirement for most folks. i think regardless of the market cycle, condition, the sooner you start, time in the markets will always be time in the markets. >> for a young investor would a bear market be good right now? >> i think so, their retirement hasn't been earned yet it's still out there. >> for an old investor like me it would not be a good thing. >> perhaps that's why having a financial planner can help you make that decision. >> talk to me about the traditional advice of dollar cost averaging into the markets or averaging out as you decide to monetize. >> yeah. tyler, i believe that children are our future and one of the things -- so i
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want everyone to go to cnbc.com and watch this video with bill -- ♪ we are the world >> i want everyone to watch this video bill and i made because we make an important point. people think it's skillful to predict the next 5% move in the market or they look at things like the market is at an all-time high, terrible time to invest, that's not true. the market made 50 all-time record closing highs in 2013 after a ten year bear market where the s&p went nowhere finally you start making money to the upside. that was not a good time to sell and stay out it was a great time to invest. here we are six years later, still making new highs so i don't want young people, and bill would agree i don't want people looking at all-time low, all-time high and thinking those extremes should dictate their behavior if you have 40 years, it's
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irrelevant whether you make 10 or 12 contributions before a periodic short term, i think you'd agree with that. >> absolutely. >> you're a military vet, you had to come back into civilian life as have hundreds of thousands maybe even millions of vets over the years. what are the financial challenges that vets face and how can they face them best? >> so i guess first i want to thank acorn and cnbc for their advocacy on this topic, not just military veterans but bringing financial literacy to different investors. military folks face challenges in that transition, it's a lot more than just a change of jobs. for a lot of people, including me it's a change of the way they live their lives so the more we can do to help them through that transition, the better there's one day our military veterans are going to come home after a job well done, take off
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their uniform and hang it up we want as a nation to go back to the closet, put on a suit and get back to work that's what this is about. >> do they come out with skills translatable to the civilian workforce or do they need to find a skill >> absolutely. the three things listed that we put together with josh and our firm they list those things out. they're important to focus on, they were for me in 2007 there's no road map in the military within the army you get a clear career progression you know what you need to do from lieutenant, to captain to c colonel to general it's in front of you when you leave the military you do not take that structure with you. so i think those three points are important, it's important for me helping veterans make that successful transition. >> you earned a bronze star tell us how. >> i was there in the first tour in iraq. they kept me safe one night on patrol, we had an ied go off on
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our forward tank, had some hearing damage, a couple purple hearts and that was it i was part of a team that led a fire team around to eliminate that position and fortunately took three hostiles out of the battlefield that day. >> bill thank you for everything you've done. >> glad to be here >> to watch the videos go to cnbc.com/investinyou one last thing to know, nbc universal and comcast ventures are investors in acorn copper prices on pace for their worst week since may your trades are coming up. but first to kelly evans with what's happening on the exchange >> here's what's ahead of us, larry kudlow calls the consumer the hero of the second quarter what happens when the spending stops or if, we'll get into all of that. did you see home ownership rates falling for the second strait quarter now. there's more to the number than
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trade talks between the china and the u.s. kicks off next week, but copper is selling off. >> yeah. you would think if the talks are coming through and we're going to have a deal that copper would start to trade higher. the u.s. has no reason really to cut a deal the economy is humming along with gdp 2.1% growth came in the chinese can play the long game i'm not sure a deal gets done next week necessarily even though there will be talks that's why copper's having a tough time getting above 280 >> you also have to factor in 3m >> we call it dr. copper because it has a phd in economics. spike to 280 couldn't stay above 275. not rallying when it should. below 260 is going to be lookout below. >> all right bribe and scott, thank you for more thank you futures now.cnbc.com "half time" is back with final
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trades after this. "futures now" is sponsored by think or swim by cme group. eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade is it to carry cargo...he or to carry on a legacy?? its show of strength... or its sign of intelligence? in crossing harsh terrain... or breaking new ground? this is the time to get an exceptional offer on the mercedes of your midsummer dreams at the mercedes-benz summer event, going on now. lease the gla 250 suv for just $329 a month at the mercedes-benz summer event. mercedes-benz. the best or nothing.
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>> let's move to intel, steph, and. jim in nashville wants to know whether you still like it. >> no. i sold it back in may. but i bought xilink and broadcom i think they already derisk. they already lowered numbers intel last night had every chance to lower numbers and they did not. that's why the stock is actually down today on a good print after being up 6%. so i'm not there >> very quick. >> this is one that we sold, we're selling out all our positions i think. the auto cycle is at the tail end. >> mcdonald's a new all-time high today you mentioned digital before that >> i'm going to sell half. it's getting expensive >> all right and final trade here is would you like to trade seats with -- [ laughter ] because an eagle-eyed viewer asked why does josh have the esteemed left seat and you own the right there? >> well, we had good reason today. when bill sweet comes in, i move >> let's go to final trades with
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20 seconds josh, final trade. >> i forgot already. >> steph >> i think it's break out. >> silicon valley bank >> another digital name. >> starbucks going well above 100. >> monday you'll be back in the old place maybe. >> that'll do it "halftime. "the exchange" begins now. thank you, tyler see you soon and hi, everybody. here's what's ahead today. the consumer to the rescue starbucks, mcdonald's, has bro, mastercard, hershey's all with lifetime highs can this keep going? we'll debate that. and is new consumer the new big tech not so fast. google and twitter are soaring themselves on strong earnings but amazon is in timeout we'll tell you which tech stocks you can count on from here and intervention needed or

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