disney is offering cheaper and has a huge library of original disney classics that, you know, people keep coming back to come over 50 years! how big a threat is the competition? michael: you know, i think barry diller said it well couple of weeks ago. netflix has won. they are not going to go out of business. they are not going to lose a material number of subscribers. the question is -- can they grow into their valuation? and i don't think so. international, sure. if they had 100,000 subscribers in each of the 200 countries they do business, that is 20 million a year. they can do that for another 10 years. can they continue to grow domestically? no. can they turn cash flow positive? no. not with the current model. they can at higher prices, and i honestly think if these guys and -- end up being a no-growth company, they will trade at my $183 price target. competition is going to slow their growth. i do not think anyone is taking subs away from netflix. i just think they will compete for wallet share, and new subs are going to choose the new programs if they have small kids and not v

we will open the false for those classic disney -- open the vaults for those classic disney movies. will there be a constraint on netflix? they have to get more money to pay for their library or get more subscribers. disney is doing everything they can to be the clear number two. they want to be the clear leader among all the insurgents. the content is beloved by millions of people and an instant brand recognition, that is powerful. if you are warner media or your apple, what is apple's promise when it comes to content? they used to be about think different, but they rolled out a service that thinks the same. alix: we know that david is ross on friends. jon: the character was based on him, yes. alix: i might appear monica but deep inside there's a lot of phoebe. great to have you on set. coming up, bank of america analyst call underway. some of the highlights after the consumer arm outpaced the training arm. on bloomberg radio, sirius xm channel 119 and on the bloomberg business app. this is bloomberg. ♪ alix: here is what i am watching. bank of america reporting a record second-q

disney already has a lot of experience in this field. second, they are price competitive and household names. when you compare disney plus, they're pricing at around seven dollars, and rumors of a bundle hulu currently has 30 million u.s. subscribers. it is a competitive package and they should be able to scale up quickly. emily: thanks so much for stopping by. eric: thank you. emily: customer data is at the heart of a controversial new medical plan in the u.k. former u.k. science minister is proposing to sell patient to but forising debt, english national health service, which provides free medical care to more than 55 million residents, some are sounding the alarm. england's national health service provides free care to everyone who walks into the hospital or doctor's office. as costs rise, that puts the system under increasing pressure. billions of dollars are trying to put to better use. after taking care of everyone in the country for seven decades, the nhs has lifelong medical records of practically all of its residents, some 55 mi

in the wake of the disney/fox merger, the hulu scripted original team is joining walt disney. this emmett speculation over if disney can create compelling original tv shows not tied to existing licensed titles, as it launches its own streaming service. in may, bloomberg reported disney could take full control of hulu in a deal with co-owner comcast. up, while jeffrey epstein could be waiting up to a year to go to trial in the midst of sex trafficking allegations, silicon valley executives wasting no time distancing themselves from him. we will discuss next. this is bloomberg. ♪ emily: jeffrey epstein facing charges of sex trafficking underage girls, has long claimed a social of -- a social circle of powerful in washington and wall street, but a different group of elite distancing themselves from even the briefest and counters with epstein -- entrepreneurs of silicon valley. the way these contacts came about is jeffrey epstein's little black book, his contact list as rest is, which include a lot of names we recognize here in tech. tell us. >> certainly. who the people relatio

disney is offering cheaper and has a huge library of original disney classics that people keep coming back to over 50 years. how big of a threat is this competition? >> i think barry diller said it . well a couple weeks ago. -- said it very well a couple weeks ago. netflix has won. they are not going to go out of business or lose a material number of subscribers. the question is, can they grow into the valuation? and i don't think so. international, sure. if they had hundreds of thousands of subscribers in the countries they do business, that is 20 million a year. they could do that for another 10 years. can they continue to grow domestically? no. can they turn cash positive? not with the current model. emily: coming up, microsoft has beaten earnings-per-share last eights for the quarters. did it deliver this time around? and elon musk seeks to merge human brains with artificial intelligence. more with how his neural implants are already working in rats and monkeys. this is bloomberg. ♪ emily: microsoft earnings out thursday. investors have driven market value up to $1 trillion larg

so if they miss again next quarter, which comes around the time that disney is introducing disney plus, that becomes a real problem for investors, especially if growth is not only slowing in the u.s., but slows overseas, which has been the engine for the past few years. emily: let's talk about the current quarter where they say they will add seven million subscribers, a huge jump from 2.6 million. this quarter, we know that "stranger things" is back. as for last quarter they highlighted "dead to me" and "murder mystery," but does this mean it is so dependent on an original hit like "stranger things," and does that make it more challenging? because subscriber additions really depend on a huge hit. lucas: sorry, go ahead. emily: michael, you first. michael: you know, i honestly think what lucas said is right. i think this is a blip. i think that netflix subscriber growth will be like movie box office. when there is lots of great stuff, they will see an increase in subs. the numbers on "stranger things" are pretty impressive, it is a really good show. they have a handful of really great c

disney to disney company of today. i think that is a transition apple needs to make. emily: do you think we will see apple continue to innovate radically in hardware and/or software, or no? om: radically is a very strong word. i think they will try a lot of interesting things. they still have the design dna. the ux dna. but you know, those days of taking wild gambles probably are not going to be there as much, mostly because steve jobs could get the company to bet big on a decision. sort of like getting rid of the cd-rom, operating on the on usb. those things were pretty radical at the time. we forget how much of an outrage there was around those decisions. he could do it because he was steve. i think now they have to play it a little bit safe. emily: you really closely follow the telecom industry. what do you think about the choices that apple has made, not investing in 5g this year? we are expecting it to come next year. as huawei is being penalized by the united states and that could thwart its efforts to grow its 5

it is original movies from disney. the fox library that disney purchased. it is the new original content from apple. i think they have never had so much competition in terms of known content that they have previously licensed as well as original content that will be pulled off their platform and go to competing platforms. emily: how does netflix fill the void? is it all about original content? or can they fill it with original content? >> one thing netflix has benefited from even with the amount of money they're spending on original content is the first mover advantage they have had in terms of generating market share. the issue, now there's more connected tv homes in the united states than homes with the cable box. so the economies of scale have changed in that they are no longer differentiated from a lot of the other services. so, i don't see them outspending apple or amazon. so i don't think original content can do it alone. what i have said for some time, i think they should invest money in buying an existing content provider that has a library and a fa

and the otherght, is disney has that huge library and disneys, marvel, . then you pull in the fox deal, and they have a lot of content. it is the new series that can lock people on, and that is what i think netflix has an advantage. alix: dan morgan, thank you very much. good to see you. coming up, moments away from morgan stanley earnings. this is bloomberg. ♪ when you rest on a leesa hybrid mattress, bedtime is no longer simply the time you go to sleep. it's time to switch off and catch up. enjoy me time, and we time. 40 winks or 8 hours solid. the leesa hybrid mattress combines two technologies to give you deeper rest and rejuvenation. 1,000 pocket springs provide edge to edge support, responsiveness and comfort, while premium foams relieve pressure. keep you comfortably cool and limit motion transfer. leesa's hybrid mattress is not only recommended by experts, experts choose to sleep on it too. try it yourself in any west elm store. or order online and we'll ship it to your door so you can try it risk free. the leesa hybrid is american made. built to

the most important one being disney plus. i really think it is not all bad news. netflix has actually been able to a mass 100 50 million subscribers across the world, and all along it has been dealing with competition. there has been amazon prime, hulu, all of the overseas players in the markets, and it has been able to achieve this dominant status. second, i think a lot of the original content has been resonating well with viewers across the world. they are hit series and they are able to generate a lot of momentum around these series, and that becomes another key to retention. conversely, with all the competition, i think what is going to happen, it will accelerate the whole thesis, which might end up being a net positive, not a net negative for netflix. the shift inlerate streaming away from a linear television platform to streaming, and the key beneficiary there is netflix. at the end of the day, netflix is viewed as the centerpiece of a streaming bundle. amber: right. reporter so much, our from bloomberg intelligence with the latest. we are now hearing from t

so if they miss again next quarter which comes around the time disney is introducing disney plus, that becomes a real problem for investors, especially if growth slows overseas. emily: let's talk about the current quarter where they say they will add 7 million subscribers, a huge jump. this quarter, we know that "stranger things" is back and last quarter they highlighted "dead to me" and "murder mystery," but does this mean it is dependent on an individual hit and does that make it more challenging? subscribers really depend on a huge hit. >> go ahead. emily: you first. >> i honestly think what lucas said is right. i think this is a blip. i think that subscriber growth will be like movie box offices. when there is lots of great stuff, they will see an increase. the numbers on stranger things is pretty impressive, it is a really good show. that a handful of really great content or i think they will probably hit the sub number. the problem is next year when there is competition and we saw a preview of the quarter. next year, you have a couple quarters where they lose subs. emily: can the

they are currently paying to disney to invest in their own content. but they need to keep building their customer base. 151 million today, but it needs to be bigger to make the business model work into it with cash flow. tom: matt, thank you so much. we have a lot more coming up. andldine sundstrom of pimco bob michele of j.p. morgan asset management. ace ins are in the bond technology, but it is this whole dream of beating amazon as well. buts not 2000, geraldine, what is it? what is the character of all these companies chasing the amazon model? geraldine: i think the tech sector is different from the 2000 and should be split into two parts. there is a part of the tech that established, that has a lot of quality properties that are generating growth and very strong cash flow. on this one, we would definitely overweight, especially in the software sectors. then, there is the part that is till -- unicorn might be an exaggeration a part of tech that losses, andling on it is really about having faith in the business model. ,hen you separate those two it

disney reporting next week and the shares a rallying as well. pfizer also announced a deal with mylan. mylan will receive 43% of the new company and pfizer trading down into that. about theis talking fed. here's the 10 year yield this year on the year, down 60 basis points, city three basis points which is a huge rally but this area could debt consolidation appears we can have the 10 year yield bottoming out of the fed supporting the idea is higher in the month of july which the first time we have seen them since april. it will be interesting to see what cut rate cuts they cut and the language. is the language priced into the tenure deal? technicals messages that will be the case but we will wait until wednesday to find out. sheryl: thank you so much. coming up, three months after talks broke down, u.s. officials are heading back to china to restart trade negotiations but was to have been a different. we will discuss,'s bloomberg. ♪ mark: president trump a signed a bill ensuring that of victims compensation fund for 9/11 never runs out of mone

concern for netflix shareholders moving forward with so much good competition on the arizon, led by disney=, much cheaper platform. the second issue being people switching from platform to platform, depending on what shows are on, canceling and then re-subscribing, which is not good for netflix. overall, netflix is a good company doing well, but the valuation is stretched for the coming competition. emily: shira, you are nodding. why? shira: i thick it is a good point, that the bull case on netflix is the default. it is the everything store for entertainment. if people decide, we are not that interested, we will turn it off for six months and switch to hbo or try out disney+ for a while, then i think netflix loses that position as being the subscription service people subscribe to and that never turn off. i think that is a big risk for netflix, particularly at this valuation. emily: next week, we have facebook, alphabet, amazon. i have a chart showing how microsoft has surpassed all of that. ross, what are you watching for next week? ross: i think all these companies are taking a different

we had the interesting bidding war at disney with its merger of fox and having to spin off its sports network. we have seen at&t with dish work -- dish network and having to do the same thing. what do you think? >> regional sports networks, fox was required to divest -- actually disney was required to divest the 21st century fox network. they sold it for $10.6 billion to sinclair. what was interesting about that process is you already saw some interest from tech companies. amazon at one point was one of the bidders. one of the networks that was pulled out of that was the yes network, sold for $3.5 billion to the yankees, but also amazon was one of the players. so more generally, at&t says it wants to sell regional sports networks, which are much more limited. they have the rockets, the penguins, the mariners. they are not nearly as big as the fox networks, but you are not integral to warner media. warner media is largely national media. networks are likely to be very interesting to companies that are local, like sinclair, two other regional broadcasters, but we step back and see all o

apple and disney plan to launch subscription services later this year. warner and nbc are planning for later this year. us from stamford, is anticut, to discuss audience data measurement expert. how the new take on season of "stranger things" and losing "the office" nets out? >> i think netflix is going to be fine. i am sometimes negative on netflix and people call me on it. i just think the future will be tough for them. they have made some wise decisions in terms of the money they have invested the past few years in terms of original content. obviously, "stranger things" is an example of that. their previous titles that have done well for them as well. the problem is not just "friends." it is original movies from disney. it is the new original content from apple. i think they have never had so much competition in terms of known content that they have previously licensed as well as original content that will be pulled off their platform and go to competing platforms. emily: how does netflix fill the void? is it all about original content? can they fill

decide, we are not that interested, we will turn it off for six months and switch to hbo or try out disney+ for a while, then i think netflix loses that position as being the subscription service people subscribe to and that never turn off. i think that is a big risk for netflix, particularly at this valuation. emily: next week, we have facebook, alphabet, amazon. i have a chart showing how microsoft has surpassed all of that. ross, what are you watching for next week? ross: i think all these companies are taking a different path. we used to look at it as they all kind of rose and fell together, but it is now as if they are all separating into their own orbits. it was from the explosion of facebook being a corrupt company. facebook is doing well in the advertising format because instagram is still a juggernaut, but their fines, their legal bills, the regulation, i just don't see a future where facebook is not heavily regulated going forward, and i think they are very clueless, and libra kind of proved that. on the others of the coin, we think amazon is doing well, and they are dominating t

. >> disney was a very popular one. disney continued to issue them after they were obsolete as a trade mechanism. what i focused on, and i have been mulling doing something about this hobby for a while, but what caught my attention, the other big hot area of collectors interest is anything presidential related. you have donald trump, who was the head of a public company with lots of stock and bond certificates. he meets the presidential collectors interest, so trump stock certificates are hot. the irony is that a company that went bankrupt is worthless, now those are among the hottest sellers relatively. there are some you can find, there is a trump certificate up for $800. carol: on ebay, right? >> some are for sale on other sites for $6,000. it depends on who has signed them. one was signed by mark twain, a railroad stock. jason: closer to our time than mark twain, the financial crisis, companies that no longer exist, lehman, bear stearns, countrywide, people want these certificates. >> it is a funny part of this mark

they have been a great partner for the last decade. .e do direct to consumer nhl.tv is streamed by disney streaming services. that was originally banned text, through major league baseball. we have tried to make sure we are touching all the bases. that continues to evolve. ed: and issue on the horizon is collective bargaining agreement coming up. where are the players and owners most aligned at the moment? gary: we all believe the game has been growing. we have a 5050 partnership with our players. the collective bargaining agreement has this season and two more coming up. we and the players association each have a reopener. our relationship is cordial, professional. it may be the most cooperative that has been in my tenure. thelet's talk also about concussion in the sport. much more awareness about that. how do you deal with that without making the sport to soft -- sport too soft and friendly? gary: safety is paramount to us. we have been very focused on diagnosing concussions and return to play decisions after there has been appropriate treatment. and, that science and medicine continues

tom: is a new disney, one of the big surprises of the last 18 months? christopher: i think it did nothing and suddenly came to life. tom: confidence over the streaming project? christopher: it is largely that. bob iger has done a good job in buying key content assets, and now he is going to monetize that in a direct to consumer fashion in a way that only disney can. tom: we have bank of america earnings, the first look. we are bringing it up as we can. the issue of bank of america is line by line, it will come out on this consumer juggernaut. at the first information that we see, use of cash is where i am mentioning the return. of net income available to common shareholders and the book value increases by 10%. nejra: that net income up 8%, something i focused on. second quarter epf's coming in at $.74 versus $.63. second quarter net interest income, $12.91 billion. billion soe, $12.44 coming in slightly soft. tom: deposits increased by 12% as well. let me bring in alison williams again. why is bank of america different from jp morgan? they are much more

talking to salesforce, disney, other companies like that. the thing i heard at the time is that jack dorsey did not want to sell twitter, but there was a lot of pressure to sell because they were struggling. now that they have been able to right the ship, i don't know if he would be eager to do that. much moremakes it a attractive offer than it has been over the last couple years. vonnie: we are going to leave it here, thank you, kurt wagner. coming up, president trump is taking aim at apple. rejecting its bid to avoid some china tariffs. how the tech giant is responding to the president's demands to move production to the united states. this is bloomberg. ♪ "bloombergs is markets." i'm vonnie quinn in new york. amber: i'm amber kanwar in toronto. it's been a busy week of tech earnings but also news -- were new regulatory concerns. donald trump is taking aim at the industry heavyweights, tweeting apple will not be given puttingaivers, and google's relationship with china in question. joining us for a look at how this may affect the spectru

disney was a very popular one. disney continued to issue them after they were obsolete as a trade mechanism. michael: what i focused on, and i have been mulling doing something about this hobby for a while, but what caught my attention, the other big hot area of collectors' interest is anything presidential related. you have donald trump, who was the head of a public company with lots of stock and bond certificates. he meets the presidential collectors' interest. trump stock certificates are very hot. the irony to me is that a company that went bankrupt is worthless, now those are among the hottest sellers relatively. there are some be confined for, there is a trump certificate up for carol: on ebay, right? -- up for $800. carol: on ebay, right? >> some are for sale on other sites for $6,000. it depends on who has signed them. one was signed by mark twain, a railroad stock. jason: and more closer to our time than mark twain, the financial crisis, companies that exist -- we are talking about lehman, bear stearns, co

avengers is the concluding chapter in the marvel superhero saga from disney. ,avid: time for all of the lead a deep dive into the stories making headlines and moving markets with insights from industry veterans and insiders. today we are looking at private equity as seen through the eyes of major international fun. -- major international fund. we welcome john vaske, the north american head, along with sonali basak. thank you for being here. let's talk about the u.s. first. you do all of the americas. let's start with the u.s.. as you look for investments, what sort of things are you looking for. is it private companies, public companies, what are you looking for? john: a little bit of everything you described. we are primarily in equity investor. the u.s. is less geography we've expanded into. new york in 2014 and san francisco in 2017. we are chasing trends across the assets, sustainable investing, smarter systems. a connected world. when we talk about the things we wanted to put capital against him you almost have to be in america. by way of mandate, we can

. >> speaking of movies and entertainment, what could possibly boost a disney remake ticket sales? try beyonce and donald glover. at stars help the lion king the box office. get how this't movie works until they described it as a national geographic documentary with beyonce and donald glover. this, i was bewildered as to what they were doing. >> i love national geographic. scarlet: did you go see this? caroline: i don't know if i will be able to cope with it emotionally. scene was hardh enough as a cartoon. family members have been and they said it is fantastic. >> we almost went because our air conditioner broke. tickets available, we are there. coming up, china's new star. the latest stock venture, the star board. we will discuss. theeijing an answer to nasdaq. first day of trading on the star market, gains in all 25 companies listed. what were some of the big success stories today? shery: we are talking about 25 companies making their debut on the star board, and we are talking about raising a combined $5.4 billion on the first trading day, stocks jumping an average of 40%. ther

you are talking extremely high potential, this could revolutionize air travel, it could be the new disney world. on the other hand, it is speculative. it is the kind of thing that is hard to value. you can see why it might make sense to go public. emily: on the other hand, they could never happen or happen in 100 years. a space company, never taking a person into space, will very soon be a publicly traded company. max: when they started talking about this 15 years ago and have the first test flight in 2004, the idea that private space was going to be a big industry was a joke. elon musk was just at the beginning of spacex. it was going on but it was niche. having this happen, a privately held space company go public, is a big deal. virgin galactic has had test pilots in space. they have had humans there which is different from jeff bezos and elon musk. the kind of travel we are talking about is not like going to the moon. it is like going to space for a few minutes. just to the edge of space, experiencing weightlessness and coming down. it is in between a trip on the soyuz and the idea wh

ginseng malaysia has been up for most of the session, reaching an agreement with disney at fox. some relief for investors. tsmc, down 1%. one of the biggest drops in the asian region but the chip stock had a significant run with earnings by texas instruments. tsmc talking about lifting the capex. 10%,lifting the mood, up the most since 2014 on the earnings beat. this is bloomberg. ♪ paul: 10:29 a.m. in hong kong, 12:29 in sydney. time paul allen. the european central bank has centered strongest signal that stimulus will be stepped up with lower interest rates and renewed asset purchases on the agenda. eurozone inflation remains far from the bank's goal and recession clouds are gathering. the new governor of the bank of turkey deliver the country's biggest rate cut in 17 years, slashing are in costs by 425 basis points. japan is weighing a new trade weapon against south korea as the staff persons. wednesday is the deadline for a decision on whether to remove seoul from its white list. it would curb the chip meant -- shipment of hundreds of products. the u.s. is urging both side

disney plus in the fall, warner next year. more content at the end of next year. >> microsoft shares popping after reporting fourth-quarter results topped estimates. a continued strength in the cloud business. another big quarter for microsoft. this was expected. what is the top line take away? >> almost every line item was good. we did not find anything negative. the potential in the enterprise space is enormous. >> tensions between i ran and the west -- iran and the west grew after the u.s. withdrew from the nuclear agreement. iran is accused of breaching the deal's caps on enriched uranium. >> do what is necessary. the europeans need to take the necessary action to the united states has basically in my view shot itself in the foot by withdrawing from this agreement. >> is the necessary action europeans need to take? you want them to buy oil. what is the way out? >> it is up to them to decide. they made the commitment that iran's economic relations with the rest of the world will be normalized. they made the commitment after

this could be the new disney world. on the other hand, it is super speculative. it is the kind of thing that i think is hard to value and you can see what it might make sense to go public. emily: on the other hand, it could never happen or not happen for 100 years. how big of a milestone is this that is space company that has never taken a person into space will very soon be a public traded company? max: when branson and his partners darted talking about this 15 years ago and have this test flight in 2004, the idea that private space was going to be a big industry was kind of a joke. elon musk, i think was just at the beginning of spacex. it was very niche. having this happen, having a privately held space company go up public is a big deal. we should also say virgin galactic has test pilots in space. it is not like they had no humans which is different from the jeff bezos and elon musk companies. it should be said the kind of space travel we are talking about is not like going to the moon. it is like going to space for a few minutes. you are going just to the ed

major stocks in the dow are .hings like disney let's get to the individual movers. beyond meat was lower before earnings. we have seen such a run-up in this stock that it's quite a change. chipotle mexican grill is up. it's not just an initiation of the restaurant stocks but putting too poorly on its conviction buy list at morgan stanley. we had a major deal and an interesting type of transaction. it's a spinoff and acquisition at the same time, pfizer and my land getting together. mylan getting together. it'll be a new company with $20 billion of sales by the year 2020. there is no name yet but we will bring that to you when they decide on one. that is a look at your u.s. movers so far. the u.k. prime minister ours johnson is stepping up preparations for a potential no deal brexit with around three months to go until the nation exits the european union. joining us with the latest is jeff shanker meant. got better today. does boris care? over 10 years ago, boris said a drop in the pound was a national humiliation. today, his rhetoric seems different. he spoke about

disney's avengers end game has taken three point $8 billion in theaters worldwide. avatar held the record for 10 years. according to revenue tracking website box office mojo, and ine is only 16 if you factor inflation, with the top spot held by gone with the wind. paul: bmw has prompted the production chief -- promoted a production chief to ceo, and this man will succeed but person who stepped down after four years following struggles to set a course for the luxury carmaker . tom mackenzie spoke exclusively with bmw's china president and ceo on the new appointment in the future strategy for the group. aim is to be slightly better than the premium segment. we expect the premium segment to grow single digits, so this is also orientation for us. 17% is because we have these models in 25 -- this year in china. it is high in the first half but in the second half will because her to the single-digit growth of the total markets. tom: do you think the market will bottom out? >> i think you see it already. talking about the total passenger market, the decline is slowing down

they would go to disney world. one of them threw a big party on a yacht. guys who were wanted for murder were waved through customs. jason: one of the things that happen fairly early on is that he was dearly working with law enforcement officials. they were endorsing at least some of what he was doing. zeke: vega would meet with these criminals. he'd give them his pitch. he'd say pay me this money, but you're still going to have to meet with the dea and you're going to have to sign a standard cooperation agreement. so these guys would have paid vega. they would be meeting with dea agents and prosecutors thinking their case had been fixed. now do the dea agents and prosecutors no that that's what they think? that's one of the things i was looking into. jason: to say the least, this is a high wire act where he's walking between law and some really bad people and yet, i mean, hopefully this isn't a spoiler, he's still around. you talked to him. here he is all these years later, look what i did. zeke: i would track down these retired law enforcement officials.

you are talking extremely high potential, this could revolutionize air travel, it could be the new disney world. you know, we go all own a piece of space. on the other hand, it is super speculative, the kind of thing that is really hard to value, which is why it makes sense to go public. emily: on the other hand, they could never happen or happen in 100 years. how big of the milestone is this that a space company which has never taken a person into space will very soon be a publicly traded company? and hisn branson partner center talking about this 15 years ago and they had their first test flight, i think in 2004, the idea that private space was going to be a big industry was a joke. elon musk was just at the beginning of spacex. it was going on but it was very niche. having a privately held space company go public, it is a big deal. we should also say, virgin galactic has had test pilots in space. it is not like they have had no humans there, which is different from the jeff bezos and elon musk companies. the kind of travel we are talking about is not like going to the moon. it is like

disney plus in the fall and warner next year. leaving at the end of this year and the end of next year. >> microsoft shares popping after a reported fourth-quarter results that topped estimates in the driver was continuing strength in the cloud business. another big quarter for microsoft was expected. what's the takeaway? >> almost every line item was good and we found no mistake in the quarter so far. or anything negative. the macro concerns could keep them from head bins but the market for cloud is so large and it just seems the tip of the iceberg at this point. the market potential in the enterprise space is an enormous. we think microsoft is better positioned than any company out there. ♪ abigail: welcome back to "bloomberg best." i'm abigail doolittle. tensions between iran and the west have risen significantly from the u.s. withdrew 2015 nuclear agreement and imposed severe economic sanctions. tehran responded by breaching the yield caps on and this uranium but this week am a both sides hinted a diplomatic path forward mi