is it going to be a net win for amazon >> you know, we think it will be obviously amazon is showcasing not only great deals, they're showcasing their music they've been spending all week showcasing whole foods they've built a big infrastructure around this prime day, and we think it will be very successful for them. >> is there any indication that this drives new consumer spending, ed, or simply, well, i need a pair of jeans in a month so i might as well get it now because it's on sale and it's kind of a zero sum game. >> we think it does drive new business it creates that spontaneity, that need to buy now and people obviously tend to buy stuff they don't need. ultimately, you know, this is a very quiet time and we think this drives incremental sales across all of retail. >> you've got a $2,100 target on amazon obviously we're optimistic does this matter for amazon? do these 48 hours or so matter to the stock, or is it just part of a longer term, more macro trend? >> i think it's more of a big macro trend, but i think the big fly away with amazon is emphasizing to people it's important

how much of that growth is driven by amazon web services. that's one part of the business that is a huge focus for people. it seems to be less about the retail operations, nmore about growth and cloud >> when you talk about profit, that's certainly the cloud that's amazon's profit engine that enabled it to make so many risky bets and go into new businesses interesting over the last few quarters, we're talking more about advertising. it's in the other revenue category it's been growing very, very quickly and taking on, you know, the duopoly that is google and facebook so it will be interesting. that's a high margin business as well we'll see what happens there we can't get away without mentioning regulatory scrutiny amazon typically plays it quiet. doesn't respond or talk a lot about this i wonder if they can get away with it this quarter with the scrutiny ramping up. >> deirdre bosa, thank you very much >>> joining us now is joel kalina, head of technology and media training over at web bush securities we heard what happened with regard to a

stocks, mostly amazon. so this is a play, just so viewers know, this is really a play on amazon >> it is it is. when you take the three products, you multiply the holding of amazon by three so you get a significant exposure to that stock which in the short-term has done quite well >> that is want. what is need >> need is consumer staples. >> toothpaste? >> exactly >> paper towels. >> that defensive play like cycle performer play. it's the consumer is going up sort of holding back but they'll keep buying toilet paper and toothpaste so you have the full staples a good balance sheets, good net income and dividends they don't pop as much lower beta to the market >> we have netflix earnings out today. netflix is a name everybody knows. a lot of people out there may have invested in it. what products do you have that would highlight a name like a netflix? if you're going big -- these stocks can move big. rolling the dice in a big way, is there a way to play netflix >> 3x communications is tak, you get exposure to

i mean i know amazon has a music services i don't think i've ever used it. >>m kr rr more off a spotify person >> i started with pandora and moved to amazon. maybe i should check it out. >> let's take a look up to the sky. so this is virgin galactic test launching the rocket they're dropped from a planefore their boosters switch on paved its way for the first launch to space. apparently it happened exactly as they planned it i feel like all the billionaires are going up to space or down to the sea. >> it use ood be sports teams and now it's spaces. >> year just chilling out on the the ground >> we're so claim. we hangout on earth all day. >>> more on that developing story in the it gulf a major story is gaining strength we're going to break down the impact on oil prices >>> and stocks could open at new ill-time highs where you can stl find opportunity in this rally when "world wide exchange" take prilosec otc and take control of heartburn. so you don't have to stash antacids here... here... or, here. kick your antacid habit with prilosec otc. one pill a day,

what do you expect out of facebook, amazon and alphabet? >> contessa, from a high level, this is a transition quarter, which is different than the wake-up quarter that netflix had. a transition quarter means there will be headwinds. but i think that the themes are on the broader f.a.n.g. will be intact at most risk next week is going to be google in part because last quarter they had a dip in their revenue. they had four years of consistent 20% revenue growth. that dipped last quarter that's not the reason why there's a head winwind they have to be more skillful at navigating questions on what potential regulation could come. google has been largely spared of these regulations and tweaks from regulatory bodies but i think ultimately that's something that investors will weigh more heavily on. and facebook is still in that camp they have regulatory questions i would put those in the headwinds camp apple is a unique case they're the only one of the f.a.n.g. companies that have exposure to china. that's about 10% of their business and that chin

off on monday the two-day event is expected to be a big revenue generator for amazon it could bring in just under $6 billion. it's gone up over time but also gotten longer. competitors are not content giving up the shopping spotlight. you have brands like ebay, target, walmart, best buy, macy's all hosting competing sales of some sort and you can call it a prime day halo effect because last year u.s. retailers with more than a billion dollars in sales saw the average sales jump 54% compared to an average july tuesday some industry experts say this year's surge could be as high as 79% so there's a piece of the pie perhaps for others too joining me now is the ceo and also former vice chairman at target thank you for being here with us today. >> good morning. >> amazon keeps lengthening this event. so now we're at 48 hours but they also started to focus a little bit more on profitability. does that look different this year for prime day are prices going to be as low for shoppers as we have seen before >> i think they'll be just as low. they're just sharing some of the pain with the ven

we are seeing shares of these big tech companies including facebook, amazon, alphabet and apple trading lower in extended hours. the justice department announcing it will open this broad antitrust review into market leading online platforms and whether they're reducing competition, stifling innovation or otherwise harming consumers as you said, the doj is not singling out individual companies as part of this review but it's looking into search, social media and retail services online so it looks like at least it puts google, facebook and amazon in the firing line here. those companies are not commenting so far. this is just a review but it could turn into a full blown investigation. we've already seen big tech companies in the spotlight as part of that bipartisan investigation into their market power in congress. that doesn't get to the ongoing antitrust cases here in europe just last week the eu opened a formal investigation into amazon and how it collects data from merchants. we're looking at how these companies react and if there will be commentary tonight when facebook reports its e

eastern time >>> still ahead, the e-commerce winner not named amazon, but that is still saying even better times may be ahead >>> and the ceo of one of the largest pharma giants of the world speaking exclusively to us his comments, if you care about pharma and healthcare, you wl nto arhem.il . >>> welcome back let's get you up to speed on some big stock stories of the day. ibm second quarter profit beat forecasts. the margins did go up a bit, but revenue fell for the fourth straight quarter ibm continues to struggle with its shift to the cloud cloud revenue did rise 5%, but that trailed rivals like microsoft and amazon and disappointed some investors. ibm down about 1% now. >>> ebay's second quarter results top estimates. more shoppers are coming to the ebay site. the company also raising its earnings guidance for the year sending shares up more than 5% by the way, ebay's ceo, def v we on "squawk on the street" today. >>> and united rentals dropping today. second quarter profit coming in above forecast but they trimmed the top end of the guidance for the year citing historically bad weathe

living is higher, seattle obviously had a huge influx of job growth from companies like starbucks, amazon i don't know that that is the same case that you'd see in the middle of the country. one more point, optimism has been on the way up we'll hear about the nfib next hour, see where that number falls. but they are staying that this could stall job growth there and end that hot streak that small business has been on >> and one more point here through all of your reporting, have you come across more anecdotes about the idea that small and medium sized businesses are not finding enough people to be able to hire to fill open spots >> yeah, certainly one thing we talked about last week was teen summer jobs. in massachusetts for example they are looking at a teen minimum wage because right now small businesses don't necessarily want to pay teen workers that will be there just for the summer this same minimum wage as that number goes up to $12 an hour in that state that they would pay workers that will be there all year long. skilled labor has been a top issue for small businesses for more tha