romain, you have been looking at broadcom. didine: broadcom results cross the wire just a moment ago. q2 adjusted eps pretty much in line, $5.14 per share. tousted net revenue at 5.6 5.9. that is a range. the analyst estimates falls within that range. same thing on the revenue side. shares down 1.5%. i think we also got gapper earnings crossing the wire. up $2.51,s per share, versus eps estimate of $.61. not providing any sort of sales and earnings outlook. 15.9% in after-hours trading, pulling the 2021 guidance for calculated billings for the quarter. this is a stock that was up about 124%. expectations were high. also getting some other breaking, what could be a big deal for oil. we were getting holdouts on production cuts that were looking to be extended. opec-plus says they do have a tentative deal with iraq and saying they are meeting over the weekend. there i'd been some talks that they had broken the compliance for those production cuts. aec saying they have tentative deal on better quota compliance. i want to switch ge

gap, slack and broadcom all trading lower. slack in particular sliding some 15, 16%, of course it's been a strong performer so far year to date >>> up next, a big win for private equity u.s. allowing p-e investing in 401(k) retirement plans. we'll discuss how that mhtig impact your money and your decisions when "closing bell" comes right back this moment. this moment right now... this is our commencement. no, we'll not get a diploma or a degree of any kind. but we are entering a new chapter in our lives. our confidence is shaken; our hearts cracked. the kind of a crack that comes from the loss of a job; from life plans falling apart. we didn't ask for it... but we are rising to meet it. and how far we've come isn't even close to how far we can go. we just have to remember how patient we were... how strong we can be. (how strong you can be.) and remember this; there's a crack in everything for a reason. how else can the light get in? ♪ tomorrow starts today. >>> welcome back americans saving for retirement will now be able to

[laughter] yeah, broadcom, it's almost run like a mutual fund business filled with chip companies, other types of tech companies. diversified chipmerrick. they reported -- maker. they reported in line results for the quarter, so big whup, right? they had serious supply issues, and despite that, they're okay. they're benefiting from 5g, that gives them a 40% increase in iphone content over 4g, making good money on cloud computing, even from home broadband with so many people working from home right now. stock looks cheap at 15 times free cash flow. jack: thanks, jack. carlton's idea a little more old school. >> it is. taking a look at caterpillar, it's looking interesting to me now. earlier this week we noteddededd that dividend looks safe, 3% yield, but also about the reopening story. the stock has been running up as some regions have reopened. new york city is expected to allow construction projects to continue next week. so it might mean that caterpillar has a little more room to run. jack: thanks. and, ben, you're looking at a financial. >> i am. i'm looking at capital one. with this

delayed until much later this year guy, i don't know if you were doing last night, but if you caught the broadcom call, and they talked about a major delay at a manufacturer, something like that. it's a cryptic way that he often refers to as apple without naming apple we are to believe based on that cue that the newest iphone will be later in the year and not september as it normally is. does that impact this run here >> you would think it would, right? but it's interesting because if you go back and remember months ago when apple said they would have problems in china on that friday the stock closed at 323, i think all-time high at the time and that monday the stock opened at 3.16-ish and by thursday it was making a new all-time high. so apple is somehow impervious to what it usually is bad news a and so much of this move higher has been multiple expansion. with that said some of the multiple expansion is multiplied as they move toward the services company and it's just a question of how much. 295 is the price target and as much as apple is a buy and hold name, it's been an incredibly great trad

. >> broadcom reported, they take on so much debt. they made so many acquisitions they did the cea acquisition, some thought it was an acquisition too far. they talked about really off the chart demand for data. and when people are trying to figure out, okay, where does tech fit in in this moment, maybe you go for the raw data plays. is this as pertinent as buying an airline stock orb a crui a c stock? no and carl asked do you short a covid index? i think broadcom is levered enough, but they said a major client had a push out to build things that client is apple keep track of the fact that apple, while it's numbers we know revenues service stream doing quite well had a second note today, apple looks like it will be later if you read the tea leaves of broadcom >> look, when we look at a one-year, it's an actual "v" a literal "v" on the screen. the low was -- where were we 180. something like that. back during the height of the market selloff >> these are checkmarks. almost like checkmarks david, when you look at the bottom to where we

the broadcom ceo says that means wireless revenue will happen one quarter later than usual. elon musk is stepping up his rivalry with amazon founder jeff bezos, saying that it is time to break up amazon, that monopolies are wrong. that is the bloomberg business flash. francine? tom? francine: thank you so much. the markets are on the move, focusing more on some of the positives out there, instead of focusing on the pretty horrific u.s. jobs figures that we could get later today. so basically stocks are rallying because of the stimulus we saw, certainly in europe, the u.s. jobs report. just a reminder, it is expected to show the highest unemployment since the 1930's. i'm also looking at oil, looking set for its sixth weekly gain after a tentative agreement to extend cuts on production by opec-plus. officer,hief financial at 11:30 a.m. in new york. ♪ ♪ necessary toit was increase size and i can assure you there was unanimous view in the governing council that action had to be taken. in the face of that inflation oflook and given our mandate price stability, action had to b

broadcom ceo says the corridor will happen one sooner. elon musk is stepping up his rivalry with amazon bezos. yvonne tweeted that breaking up monopolies -- monopolies should be broken up and monopolies are wrong. adding tohest man is the host of investigating's of upstart platforms. they have put -- they have been point at $1.2 billion. it is controlled by an indian billionaire. they raised $10 billion in recent weeks and has an equity at 65 million. that is your bloomberg is/. tom and francine? tom: thank you so much. greatly appreciated this morning. we will come back and reset with importing conversation on what you will see out of the american labor economy reports today. we do this with risk on, futures up, yields move out to extraordinary new levels for the 10 year and 30 year. stay with us. this is bloomberg. ♪ good morning, everyone. "bloomberg surveillance" from london and new york as we moved to this historic moment for the united states, a grim jobs report at 8:30. if you need to be acquainted with the great depression, re-d

stock two, broadcom second quarter response book ends in fraction. they saw a limited impact from the lockdown they expand demand from a surge in the cloud and telecom customers offset by supply chain issues finally the gap. results missing forecast sales take a hit from, you guessed it, stores being closed. it is amazing, when your stores remain closed, sometimes people won't buy things in them although more than 1,500 locations have reopened for the gap. we'll focus on those numbers going forward. >>> every friday here on wex, we bring you a look at insiders getting bullish on their own stocks using their own money to buy their own stock. coming via insider score.com we have one big buy this week. the top five stocks this week. you ready? number five, hp, a board member buying $700,000. and then ups buying $1 million on the first day on the job at ups. number three, douglas emmett, they leicester job offices mostly in l.a. and a sprinkle in hawaii two, essent group, the ceo stepping up and buying 50,000 shares look at this, the stock most bought by

. >>> time for today's power movers oil stocks among the big gains broadcom is moving higher. that stock up 4.5% we end with slack on pace for its biggest one day drop ever. results are better than expected but the stock being victimized as the stay at home trade seems to unwind. it's down by 14% kelly. >>> hoping for a reopening a major factor in today's rally. universal orlando theme park opening today for the first time in more than two months. we'll get a check next on "power lunch. ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> welcome back to "power lunch. we're tracking a huge rally in stocks the airlines continue to soar. american has doubled this week it's up 13% today. the cruise lines are soaring they are still way off highs but a big rebound for all of the major names in that space and the travel stocks. booking holdings, expedia and priceline all higher today julia is watching the reopening of universal orlando >> universal orlando opening its doors to the public today. take a look at a live shot inside the park right now. the park is operating with limited capacity and new addi

nvidia, artificial intelligence, or maybe broadcom. you want companies reinventing themselves to become something better than a plain old merchant company like a paypal. same goes for apple. that needs to be the hardware, right? not anymore. it's about the service revenue stream facebook didn't used to feature shops, now'9" does you've got to wake up and smell the coffee sometimes i want to say, guys, don't you get it i don't think they get it. now, there's others, too how about nike that's a good one, as nike comes down, i want to own nike but in a tough market, you need to circle the wagons around a few good names that you feel comfortable buys and then buying more if they go lower, because they night, in case the neophytes are in there and those recovery places, sadly, they're not recovering. i need to go to dom. dom in new york, dom >> caller: jim bow, buia from long island, new york. >> what are you up to? >> caller: thanks for taking the time to answer my call >> what's up >> caller: my two to bes are ibr and o. i'm a 25-year-old

chip stocks, the semietf hitting a new all time high earlier led by the likes of micron, broadcom and mxp. piper sandler naming broad campaign its top pick saying it's well positioned for the next two years wheen qualcomm a buy rating and 105 price target for high hopes for 5g and shares of grubhub jumping higher now fielding interest from two european food delivery companies. sourcing telling alex sherman takeaway.com and german delivery hero both experrezexpressing int uber's got competition >> thanks. s&p is up 2.8% 31 minutes left of the session still ahead, how corporate leaders can push for meaningful change we'll ask daymond james if companies are doing enough as they join the discussion around racial equality in america here's a check on bonds. another major move higher in yields, particularly the long end. ten-year is up 0.9%. helping the banks all u week financials up u 4% hey! lily from at&t here. i'm back and while most stores are open, i'm working from home and here to help. here's a tip: get half-off the amazing iphone 11 on at&t, america's fastest network for iphones. s

last week broadcom reported a number that was good, wasn't fantastic, but they do have a 4% yield. the semis are still a great place to be. they will be brought down today as high flyers in what i regard as being a day of profit taking, but the semis come back earlier than a lot of others in terms of apple, i think the last few days we have learned more and more about how apple's service revenue has gotten even bigger, there are so many analysts, carl, that got off of it, they felt it can't go any higher and here we go and now you're headed into 5g. apple is good stock on a pull back >> a couple of halts to watch, jim, one is chesapeake for news, we've been talking about that name all morning. >> right. >> the other stock we were talking about with david which is nikola, first halt of the day on that for volt tilt. >> yeah. >> your opening comment, jim, about what today could bring starting to come into view. >> look, there are a couple services out there and i'm not going to particularly name anyone, some very nice people, that have been very good at running stocks now, running st