so paypal goes public mistress the 20th anniversary of the paypal. when two decades have passed it all these people are not involved in the day-to-day creation of the company, they are more open about war stories and reminiscing. i did not the push as hard to get answers to questions. in fact how many of them made fun of me for being interested in this b that have been 20 yeas ago. in the back of my mind is that spent all day thinking about the future, no one you think i'm a curiosity thinking about the past, right? that was part20 of it 20 years d passed they were happy to chat. but i would say there are two other pieces that were helpful. one is i did have the good fortune of having a number of people who share e-mails i don't know why they kept these notes and documents andy the board minutes and various phone lesson things, but they did. they said hey, this could be helpful to you and ithe was. it gave me the ability to see now a somewhat through the haze of timet but someone wrote to te entire company in the moment. so i hope you get the immedia

with paypal, it's memorable. it's friendly sounding and as you put it she's like your pal is more than your friend like your pal. has your their arm around you right? it's a warmer relationship. it's a warmer definition and and warmer image in your mind. she says the the peas create plosives so you have to like stop the air in your throat, which leads you to like. remember the name for a halfbeat longer. there's some pretty decent linguistics research on this and you you have this change later, but you have the capital p and the lowercase l which create ascenders and you have the lowercase p and the lowercase y or sorry the lowercase wine lowercase p which create descenders that's like visually very symmetrical now the interesting thing and we never could find the origin is that at some point they capitalize the middle p and and she went under great. i'm very grateful. she went into her files and she came back and said jimmy. the only thing i can find is this little note that i have that says chose paypal with a

kate rooney has the story on paypal >> paypal's cfo left for walmart earlier this year. i was talking to lisa elliott, saying there's been some concern that there hasn't been a resolution, there also maybe be a c.o.o. to step up, but there's been a huge focus, because there's a void here. the elliott investment, you mentioned paypal hasn't acknowledged that publicly, so any comment on that around the call elliott also has a stake in pinterest, but there's a lot of speculation that deal might be back in play there's a thought out there that full-lr full-year guidance may have to come down. we've seen things like currency headwinds and consumer spending has been hit paypal tends to skew toward more discretionary spending so the bar has lowered for paypal in previous quarters. the question, though, john, is the barlow enough to paypal. it remains, investors call it a show he emphasize story. based on how many times they have moved the goal post in terms of their own metrics and targets. >> good question jeff, is the barlow enough how exposed is paypal to downward consumer e

we'll start with paypal. shares higher after a beat across the board raising full-year guidance as well revenue up 9% year over year the company did report a net loss compared to a nearly $2 billion profit in 2021 a big focus on cost cutting, expected to reduce spending by $900 million this year, $1.3 billion in 2023. one area they are sharing, the other big news driving the stock, investment from activist elliott. a day after revealing a pinterest position, they've amassed a $2 billion stake in paypal last fall it was rumored those two companies were exploring a merger which had me scratching my head, carl. i wonder what elliott is going to do now with a piece of each of these you mentioned a few minutes ago the big pop in fin tech overall. but it's interesting what's driving that at this particular moment it's not excitement over crypto or the flows from retail investors and meme stocks. it seems to be fintechs acting more on the fin side than the tech side. sofi able to flex its bank muscles. paypal being

so why isn't that going to hit paypal, too? >> they've testify felt the pinch and the pain they felt it in the third quarter of 2021. they were the first company in the space to talk about inflation and supply chain challenges and they missed numbers for several quarters in a row as a result. >> why isn't there more? we're seeing snap today. they also already had a bump in the road where they said, okay now they're cutting themselves why isn't more pain ahead for paypal >> well, one data point i would highlight is visa just disclosed last night their metrics for the month of august. if you look at the one-year comparison in terms of growth in e-commerce, it was actually very steady from july into august so we don't really see broad-based signs of slowdown. if you look at overall e-commerce spending, year over year comps are getting easier in the second half of the year. with that said, the most prominent risk we highlighted in today's report, and all calls have some element of risk to them and this one is no different, is the m

what you make of paypal, karen? >> paypal was interesting. the stock up and down a lot on the heels of chapter 5 in this idea that e-commerce is really slowing and with they participate in that slowing here ? this was a good quarter in terms of defining those kind of expectations. the cfo, needing a cfo and having that role filled is great. i don't have a strong feeling either way on blake jorgensen. that was important. obviously the elliott thing is important. the buyback as well. that's a massive buyback, $14 billion. the close, i think they were only about $100 billion company, so that's a really massive buyback. so there was a lot to like and to breathe a sigh of relief. so that's enough. it's a big pop. >> almost $1 billion in cost savings as well so they are really making an effort to streamline the company. >> we are not focusing on the quarter over quarter growth of 9% or effects neutral is 9%. 13% with the fx. and another fx edwin. operating margin of 11.2 which is more or less in line, but the cost savings and buybacks are things th

care about paypal. it's not on my list, but i have an issue with you. >> me? >> you you like a good fight! why aren't we talking about cvs today which you know i own and it has five years of earnings beat cvs. >> it raised guidance. >> there's an exciting one it's exciting because it goes up and you want to talk about paypal i love you, ckari, and how much is it down >> 6% -- >> carry on. i can take it. tomorrow our friend paramount is going to report. >> oh, boy, you're all bulled up ahead of that one. >> and i know you, i know when the earnings season came out you circled that date in black marker >> i noticed it today. i'm not one of the five people who cut it to sell in the last ten days. >> here is my point, okay? i love jabbing with you, but you've got to give me credit when it's due. you do >> why don't you let me get to cvs and let me finish paypal first. >> you drpt think i was going to get to cvs >> dazzle me >> i can't do it now because i want to talk about paypal. >> i controlled it there le

paypal confirming the $2 billion stake and the managing partner with the paypal's release highlighting the initiative that it says will drive that growth and value. investors i've been talking to say the elliott backing really gives this turnaround plan some teeth and it adds pressure to deliver many in the investor community had lot of and a bit of trust in the paypal team after it shifted in prior quarters tyler, you can see the excitement in paypal shares up more than 9% after what has been a tough year for that stock. >> in a phrase or two, what went wrong at paypal? what did they miss >> overspending, that's been one of the big things and over ambitious targets. they had set the goalpost too high as some might describe it and just lack of focus it seems like things like stock trading where the investor community said we really want to focus core checkout and that's the bread and butter and the revenue driver here and it may have taken that pressure to drive that, but it seems to be the investor community here. >> kate, thanks very much. that does it for "the exchange." i'll join c

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at the ready was the ceo of paypal. there are a lot of things going on that we might not be aware of right now and there is a lot of upside from here. >> thank you for joining us. under armour shares are higher today. the company matched estimates. it expects a more promotional environment and foreign- exchange. the dollar is crazy strong. at the head of arm under armour told me. i spoke with ceo colin brown who was ceo oh under patrick frisk who stepped down from his position in june. brown was somewhat upbeat on the u.s. consumer saying we are seeing some retail slowdown but i think the consumer is relatively healthy. employment a strong. we expect a stronger back to school and when it comes to the promotional outlook the company is giving. higher inventories across retail and not using of supply chain issues which opens up more merchandise. the quarter was better than feared just like a lot of earnings we have got the season. a lot of the bad news has been in the stock. under armour has a lot to prove on the growth s

by the way paypal had a big number. well done. if they want this to happen, they can make it happen. these guys can shake down entire governments. they steamroll executives and they are smart. they have 433 million printers and paypal has 429 million active accounts. critical mass is there. you can purchase what you see. that would take pinterest to the next level. even if they merge is not enough to get into amazon. that's why they need to buy at the end shop of fire as well. it's crazy that they have not emerged yet. at the is the dominant platform. pinterest is where these people live. two great tastes that taste great together. >> then shipping and fulfillment it should go to shop at five. they have deep knowledge of how to work with businesses making this combination company and unparalleled competitor. think of the advantages that could accrue here. first at the can get rid of the shipping apparatus and you shop of fives. that's the fulfillment leader. there is financing for people who sign up for the product. paypal could o

and paypal's jumping in the premarket. elliott confirms that $2 billion stake in the company let's begin with corporate earnings we mentioned amd, tarbucks, airbnb, jim. amd, i guess if the notion was there truly killing intel, some argue this should have been better >> let's get right to it first of all, tonight i have the implacable ceo they did not guide down. the next quarter they guided down they have a five-nanometer chip that the titans want we know who they are they sid double digits in pcs. that was confirmed by intel previously they said there was weakness in gaming, confirmed by intel, confirmed by pretty much everybody. what's really important, they gained a record amount of share, just a huge amount of share everywhere against intel xilinx was up 20%. they bought that i think they are going to blow away the last quarter. look, it's true. if i were in the pc business, i would be very worried, but i think that because she has this five nanometer -- we have to remember it's -- if you want to buy the ones for tvs

but you look at other companies and paypal trying to expand. also, doing that very nimbly. one interesting question is the interest --relationship between them. >> he said the phrase expanding. robinhood saying, we over hired. >> what is interesting is that it is not the first time we have seen them cut. we are talking about different businesses here. i keep making the example. they already had crypto. hundreds of people on their staff rather than thousands. we are seeing this done more nimbly. maybe now they can play the catch-up game. paypal is also giving that money back to shareholders. >> a lot of great stuff. we appreciate it. big moves there. u.s. house speaker nancy pelosi continuing her asia trip. she is now in south korea. we will discuss her historic taiwan stop. joining us next to discuss. this is bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satis

. >>> an upgrade for paypal pushing though shares higher it's our call of the day we'll find out what the committee thinks now about fintech. we'll do that next ♪ ♪ the thing that's different about a vrbo vacation home. you always have the whole place to yourself. no stranger at the dinner table making things awkward. or in another room taking up space. it's just you and your people. because why would you ever share your vacation home with someone you wouldn't share your vacation with. ♪ ♪ this is xfinity rewards. wit our way of showingn't sha our appreciation.ith. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. >>> there's a bullish call on paypal the stock got upgraded to buy. elliott management to push for more cost cuts amy raskin, i feel like this stock, man, i feel like it's gone from loved to loathed nobody here owns it today. the valuation has come way down. the analyst who made this call was on, i think it was "techchec

they specifically mentioned the increased stake by activist investor elliott management in paypal as well >> yeah, no doubt about it, dom. obviously paypal has really struggled this year, down 46% as you mentioned year to date, but i think the elliott play is a real nice play the street likes it. they got a really good reputation in the space. i think on the cost reduction piece, i think they will really help there i think also the buyback $50 billion buyback and also an investor day that they are going to, have and i think also, you know, when you're looking at the management team, they are hired a new fco which i think would be a positive and catalyst for the stock. i like it here it's gotten really beaten up the multiple comes dramatically trading 26 times forward. >> an analyst over at daiwa is downgrading both vice area and mastercard citing reduced earnings upside for the credit card processing companies. jim, visa is a name that you own, so this visa call something that you're worried about in. >> not particularly worried about this part of the call. i'm on other side of the f

i think that paypal is sort of the opposite. i would prefer paypal to a lot of other things that may be trading more cheaply, but are more reliant on future growth. i think elliott's involvement is a good thing with the cross management, looking for growth in other areas. the company is already doing that themselves. if you own the stock, i think you can hold it. i don't think you need to chase it here. you are approaching resistance at the 126 level, but i think this is a stock with fundamental characteristics that you can buy here and do well over the long term. >> tim? >> i agree with that. i am going forward, though. jim farley has been talking lately about job cuts like a lot of other ceos, but he is also reiterating that they are going to increase a lot of the things that people didn't think ford was going to be able to do. to me, even after a 50% move, and as you say all the time, you make the most money when things go from terrible to kind of bad, i don't think he had either at ford. i think he had the environment that c

as an example, i know there's been a lot of enthusiasm around elliott's involvement with paypal, and maybe they would push paypal to return more capital, or improve margins faster but i think the dynamics of apple plus vc, et cetera, mean pie paypal is in a position to continue to invest that's a key example of the impact of all this money flowing around. >> right, and paypal has had a brutal year, as you can see on this chart, down 50% year to date it's interesting, james, you say that the dynamics haven't changed with consumer oriented payment methods like apple pay you'restill using a debit or credit card. and maybe this is too long term, what's preventing them from by passing the rails for example in the longer run, in the way that chinese finteches were able to, and financial was able to? is that ultimately a threat for the visas and master cards of the world? >> i don't think so. the reality is that visa and mama mastercard's ability to execute a transaction, whether it's apple pay or some other mechanism, you can't do it cheaper or faster or more securely, can't do it with bro

paypal really came out with a turnaround strategy, backing of elliott. an inflection point for paypal block, a little more subtle saying slow down on things like discretionary spending wasn't total turnaround plan basically what we're doing is working. here is evidence what we're already doing in terms of both companies are slowing down hiring, for example. they seem to be a little more cautious on what they need to do, but both are focused on near-term profitability and those days of costs and spending to growth, seem to be for all of these companies. >> back to basic block thanks. >> luove it. >> amazon sweeping up competition buying irobot, valuing roomba vacuum maker roughly $1.7 billion including debt this acquisition, latest for amazon after last week's nearly $4 billion deal for primary care provider one medical but the question remains, what's the impact talk to amazon and on irobot a product that it puts out i spoke with ring founder in april. he praised amazon's takeover of his smart home security company saying it's largely allowed ring to ope

jack: carleton, let's talk paypal, the stock has done, there is an activist investor in elliott management. will it work? carleton: i have confidence in elliott's admission. what i used to pay back with the burritos i buy but basically this is a company that got ahead of itself during the pandemic but there is a solid business, it became undervalued during the selloff we saw in check companies. you've got to get costs under control, return capital to shareholders. you have an activist there that is accountable. jack: give me a stock to love or too low. al: i want to dislike lucid, the electric vehicle stock. they make 6500 cars, they are having supply chain problems, still $30 billion, stock is down 10% after they said that. jack: don't how you are breaking into the car business. yeti, last christmas you told viewers to avoid it, the stock is tanked on earnings. what should investors do? al: ben: the stock benefited from the pandemic, they were looking at $80 coolers and decide to buy them. now we are here, inflation is roaring, food prices are high, people aren't buying $480 coolers or go

the person goes on to list three modern ways that you can pay them be a cash app bitcoin and paypal. were you afraid that if you didn't pay that you were gonna get your car broken into? yeah. absolutely. absolutely it was it was something i had to consider every time i came to work and actually just adjusting the way i parked and where i parked so it did affect me and it still does marsha looked around and noticed multiple cars had the same flyer. she says car breakings around the area happened frequently specially during the holidays even though she decided not to pay her co-worker who also got the flyer did send money. i felt extorted in some ways. yeah, like if i didn't give them money, are they going to come back? we showed the flyer to a cyber security expert who said this type of crime involving crypto and apps are in some cases hard to trace bitcoin is a cryptocurrency based on a blockchain so it while it is impossible to know who's behind a specific quality. you can still follow traces and see which transactions with rich which wallet. we also contacted paypal who confirmed t

paypal, salesforce, united health let's start things off with paypal >> well, paypal is a stock that bottomed under 70 -- 17 times earnings we've owned the stock. it was just cheap. the sentiment was so negative that we felt it's time for there to be a shift and we decided to add to the position. we did -- the stock is up 40% since mid-june, so the market is appreciating that things are not as bad as they looked a few months ago >> let's talk salesforce, up more than 3% today >> well, you know, salesforce, again, it's a big tech name and it's about growth in the economy. when people are worried about stagflation or worried about employment because they sell on a per seat basis, that's a problem. interest rates aren't just as high as expected, then they feel better about it. it's a name people can feel good about owning and we do and we think there's a lot of upside. >> home depot and sher win williams when the home construction days is up. give us insight and why you want to move to that play obviously home prices are up they're kind of off the highs but still up and rates are going

the person goes on to list three modern ways that you can pay them via cash app bitcoin and paypal. were you afraid that if you didn't pay that you were gonna get your car broken in? yeah. absolutely. absolutely it was it was something i had to consider every time i came to work and actually just adjusting the way i parked and where i parked so it did affect me and it still does marshall looked around and noticed multiple cars had the same flyer. she says car breakings around the area happened frequently, especially during the holidays even though she decided not to pay her co-worker who also got the flyer did send money. i felt extorted in some ways. yeah, like if i didn't give them money, are they going to come back? we showed the flyer to a cyber security expert who said this type of crime involving crypto and apps are in some cases hard to trace bitcoin is a cryptocurrency based on a blockchain so it while it is impossible to know who's behind a specific wallet. you can still follow traces and see which transactions with rich which wallet. we also contacted paypal who confirmed

. >> exactly, something i was trying to get at let's hit paypal kate rooney is here with a key number to watch for and this stock which has been battered from its highs, kate. >> the number one thing to watch for paypal is the executive search the cfo left earlier this year for walmart so there's concerns that the ceo doesn't have an heir apparent. there's a bit of a void on the management side. the second is the elliott investment paypal has not acknowledged that publicly but it sparked speculation about a possible pinterest combination. finally guidance may have to come down based on the international business and currency headwinds as well as a slowdown in china. the bar has been lowered in prior quarters the question for this quarter, is it low enough heading into earnings this time we'll see you in a few minutes back to you. >>> amd is the other big name set to report. kristina partsinevelos has a preview of that name. >> amd updated their annual guidance in mid-june so making expectations just a little bit more accurate and possibly easier to beat but there are three points i wa

elliot says paypal has an industry leading footprint and comes after elliot confirmed it is pinterest's top investor and happened yesterday and singer is getting paypal down for a list down 67% over the past year. food storage maker reported stronger than expected earnings with the stock jumping 28%. tup said they were able to offset lockdowns in china and lower consumer sentiment in europe. and investors are swiping left on match group shares today after the dating site reported a second quarter miss on the revenue. it shared weaker than expected guidance as post-pandemic dating boom ebs. shares down 17.5% as the company also announced the exit of its tinder ceo, the sixth chief of tinder to leave the dating app since its founding back in 2012. and then there's this, match is killing off its meta verse dating plan. and the crypto coins business as well. put a halt to that. you either date in person or not. come on. dating in the meta verse, whoo. the seller's market seems to be selling as as high prices and mortgage rates scare abay would be buyers from open houses. lending tree, rocke

>> oh, we don't hold paypal right now. we considered it, so we certainly talked quite a bit about it and squared compared it to scare. we at this point prefer square. it is a higher growth company. despite the 15 billion-dollar buy back that paypal did, we need a better call lift which elliot has moved in. perhaps we'll see something around crypto. charles: what are some other names then standing out for you this earnings season? >> we really liked amds report. we got 61% data center growth number from nvidia. they're coming in over 80% a and b. at the same time intel's decline is 16%. something is going on there. amd is clearly doing something right. management which is incredible also said gaming should clear around q4. she is looking for sequential growth in q4. that is exactly what i want to hear on top of strong dater center. over all amd was stronger than the market reaction was next day. we don't own cloud flare but selling good things for cyber security. one thing about the cyber security only area impact budgets a

so, of course, there's also this speculation that new ceo bill ready's ties to paypal could potentially line those two companies up for a deal, but i think what's most important here is this is a company that's pivoting to focus on ecommerce >> julia, that's -- well, what i wonder about the reaction to this quarter is, is this about the fundamentals and the prospect that twitter -- sorry, that pinterest could grow into something significant beyond what it is right now or is it about the fact that, b boy, the business looks fundamentally pretty healthy and it looks positioned in a way that some kind of transaction could happen somebody could buy, the chances of that look higher now than it did a couple of days ago zp >> i would say, it's less that the fundamentals look healthy. there's this great growth opportunity. pinterest laid out some stats in its earnings last night about how their shopping ads the ads that are specifically trying to convert consumers to make purchases, those are performing really well and a lot of analysts that are watching this stock have thought, gee, why didn't

paypal has also reported quarterly results. and the news seemed to please investors with shares of the online payments giant jumping more than 12—percent in extended trading. now this of course follows what has been a turbulent 2022 for paypal so far. �*earlier this year, the company cut its revenue forecast citing the effects of inflation on consumer spending. however, the pandemic has led to an increase in the use of digital payments around the world. now, robinhood's staff is facing a difficult time. the retail trading platform has said that it's laying off about 23% of employees. the announcement sent its shares down more than 3% in extended trading. robinhood's cheif executive vlad tenev said the company is also changing its organizational structure to "drive greater cost discipline". robinhood's easy—to—use interface made it a hit among investors trading from home as gamestop corp> during the pandemic. to the uk now. where the national institute of economic and social research think tank is warning that more than

one surprise, paypal, up 11%, doing a much bigger share buyback, elliott management exposing a big share and outperformance with the company put into effect cost-saving measures effectively. as you said, it was a very busy news day. the story being nancy pelosi going to taiwan. the geopolitical tension causing stocks to swing between gains and losses. and a lot of fed speak. the fed will continue to raise rates until inflation is under control. the semiconductor index a sickly flat and yield hovering around 2.75% on u.s. 10 year. there were other news and other stories in play as well and you can't forget how busy this earnings season is. uber up almost 19%, a really strong performance. demand seems to be there but they also had to lever pricing and discipline. pinterest, a real surprise. they were able to do well in a difficult add environment. according to sources, the world's biggest maker of ev battery cells has delayed a decision to announce its north american plant because nancy pelosi has gone to taiwan. they don't want to get in the middle of the geopolitical tensions. tesla clos

paypal is the other outperformer . airbnb, interesting, strong record quarter, strong outlook, high expectations from the street. one of the laggards. interesting one. emily: indeed, we are going to ask brian about that get airbnb, just not it's best, but second-best revenue ever. it's only going to get better with average daily rates 40% higher than pre-pandemic. the chair joins me now. i have to ask you about this market reaction. they have paired their reactions or the day but they are down for the year and what do you think investors are missing? brian: a lot of uncertainty and travel right now. i think the best thing we can do is keep telling our story. revenue was up 58% year-over-year, $3 billion in the last year. one of the things that we share with investors is that bookings accelerated from june to july. one thing that we saw is that there is a lot of demand for q3 q4 summer travel and we are focused on being in control, that's what we are doing. emily: there is some disappointment about your forecast, still

soy bring in bill, who handled this stuff for paypal. and it's natural. you'll buy this stuff. right now, it's a quiet, nice site. there's kind of veiled references to twitter, that we're a sweet and kind site. but i would say that the combination would be very powerful. i do not think, obviously, dan schumer wants it. he took a look at it. >> again, going back to silverman's ipo day. we already said, company is not thatpromotional. that's been the knock on them. >> i've interviewed them many times. and one of the reasons i like them. other than that he's from the brass, is that they're not trying to hook you in a salacious way. twitter, a lot of people come in because they want to see combat. there is no combat on pinterest whatsoever. it's just kind people. just nice and kind people, good people. >> yes. >> it's like the world, if the world were inhabited by everyone just on pinterest, there would be no more war. [ laughter ] >> so what do you make of inehorn there. einhorn twitter and elliott pins. what do you think will be the more powerful partnership? >> i think this pin

sometimes i get up to 3 calls a day with a boy from distressed paypal under info, afraid of a forced adoption news renewal. they asked me for advice. i will demo. i advised them to go abroad for gama road and barn ford over shay would have because until local authorities make a final decision on the fate of the child, it's legally leave. nicholas coronel, both of you on born from new la gala life, florida. back in flints, book, we meet kenneth and his son, william. they moved to germany just a few weeks ago with christensen's help. denmark is just across the bay. when danish authorities move to forcibly place kenneth's 8 year old child in foster care, the family left their home country. you i'll fall home got it. i think i did everything i could to make sure the boy was doing well and that's thank us evil all. now he himself is forced to experience how badly he's been treating ms. hardy at getting p at your old old lady table course i hope will win or court cases against the child protection authorities decision. but to be honest, i no longer believe him just as denmark annoyed, i mo

missing people and gather information at places where rescuers won't be able to reach san thought or paypal. your cameras attached to the head in the tail. and you can control the robot from a distance by watching the footage from those cameras. it's a long and thin robot, so it can go through narrow places and climb on high steps using its advantage in length. so what we'll go out with a game console is all the robot needs to get into motion. once the snakes had received instructions, it will calculate the movement of the body automatically. with over 40 motors, it's extremely flexible. the research is se conditions in a really soft site could still be challenging for the robot. but it won't, the won't photo the robot may get stuck in situations that we didn't expect, such as being caught by wires or something like cloth that has less friction against the wheels or whatever for pasting i joked or dead, it's not good at the operation has to stop at a place where the robot can no longer move it or the mother could have. a team is now conducting further research to make the robot fitter for t

elliott management taking a stake in paypal. they are looking for some sort of way to right size a company. tom: this is a good news story for paypal, right? lisa: the activists taking a stake, asking for cuts, and the market is cheering them. the market is also cheering under armour after coming out with weaker than expected earnings, seeing some resilience in the u.s., but weakness in china. yum! brands, i know that you have very close feelings, the parent company of kfc, pizza hut, which did not do so well. taco bell did do well. tom: driving the conversation forward, kristin emails in, love the blog seeker -- bob seeger. jonathan: we are not doing this. lisa: i don't know where you thought i was traveling, but people were asking me, how was kathmandu, the himalayan mountains? tom: thank you so much for driving the conversation forward. michael shoemaker with us, global head of macro strategy at wells fargo. buried in your note is something to watch for august. italian-german spreads. your team says this is a monitor on europ

there's a book a few years ago about musk in the rise and others the rise of paypal. credit card companies and banks at the time when that was starting didn't they could have crushed it and then and the early participators were wondering why didn't these big guys come in and crush it because the big guys didn't see what they were doing and realize the implications of what they're doing. so even though paypal stock has taken a hit still worth over a hundred billion dollars and none of the incumbents at the time 30 years ago 25 years ago for saul with paypal would do and you have that going on all the time if you have a free economy people things people never thought of yeah, that's interesting. i guess. i wonder how you square that with what we see in sort of the international context, which is very much the case that as companies develop as they sort of move up the industrialization ladder and as their population growth slows their growth does tend to slow i think china, you know obviously is a very obvious example that we've all probably watched happen within our lif

we have a slew of earnings and buyback amounts coming from moderna and paypal. just to mention a couple. but let's move to what we have seen in the aftermath of nancy pelosi's visit to taiwan. there we go. the taiwanese dollar is seeing volatility, coming off the 2020 highs we had been witnessing ahead of that visit. just above 30 against the dollar right now for the taiwanese currency thus far. indeed it is perhaps a sigh of relief out of taipei, david. david: yeah. she is in south korea now. we are following her trip, nancy pelosi. but after the stopover in taiwan which is in many aspects still being felt. stephen engle our chief north asia correspondent is here to get us up to speed on both political and also the military followed so far. stephen: i think probably she could return to the u.s. and everyone says good job. there was no major incident as the markets feared, especially coming after the rhetoric from beijing that they would not sit idly by. yes, the pla is doing a lot of drills right now, and yes, we might be under this situation for some time. we

paypal took that step and mastercard and visa did not. there's other disclosures to the card companies. in december of 2020 when nick christoph came out with a follow-up piece to the sunday times, visa and mastercard temporarily suspended services and mastercard looked like it was going to take more step. mastercard restricted on the steps and we fully intend to pursue claims against mastercard and discover in addition to our -- to the case that's currently pending, we've been approached by numerous other victims. we have close to a dozen climate at this point, and we fully intend to hold visa, mastercard, and discover and all of those benefits and facilitating child pornography -- elizabeth: that's a headline. mastercard and discover are not in the clear at this point. again, amex, do they just not take amex on that site? >> i don't believe they provide payment services. elizabeth: all right, they might very well be in the clear. how far could this suit go, and maybe not this particular suit but you're looking everywhere and the tentacle

come back leslie picker is here with the big hedge funds and what they are doing in the board rroom paypal has something to do with it. >>> and many of the world's biggest tech stocks up 10% or more in one month. more crazy market stats for you. >>> later on, incredible friday rbi on just how much money fast moving electric car owners are making and it is not on the stocks dow futures up 17. we're back right after this. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. [zoom call] ...pivot... work bye. vacation hi! book with priceline. 'cause when you save more, you can “no way!” more. no wayyyy. no waaayyy! no way! [phone ringing] hm. no way! no way! priceline

it is a big deal got, you just mentioned paypal, block, trillio robinhood risk-on names benefiting, had been throughout july, questions about what's going to happen in august and can that momentum continue who knows? guidance here might have something to say about it. i'm particularly interested to see what amd does tomorrow lisa su on "squawk on the street" wednesday morning as well the overall pc industry, the state of decline, perhaps, but is she able to eeekke out a bet story than we heard from the likes of intel we'll see. >> yeah. talked about that with cramer this morning specifically gaming. what that's done to both nvidia and amd. you know, semis, number of cross-currents really confusing now. whether it's pcs and gaming and crypto being offset. maybe by autos, on semi, seisint quarter, smacked at the open, though remains a tough read what's happening now in semis. not to mention the chips act and china/u.s. relations part to deal with. >> a lot data-centered data-centered dependent seems. from logitech, we saw gaming accessories cooled down along with webcams consumer leaning

thank you both >>> and bank of america is bullish in paypal. and there could be more buying opportunities ahead. we'll tell you why >>> and a quick check on the markets, the dow nearing -- it is down about 180s and we'll be right bac ♪ ♪ ♪ ♪ ♪ ♪ . >>> shares of pay pal opal are e today. potential crisp by cost cutting and share buy backs. and elliott disclosed $2 million stake and thanks to a new rule, there could be a whole lot more activism ahead leslie picker is joining me now to break down the details. >> yeah, we could see a lot more activism in the months ahead somewhat technical rule change in the way that investors can vote set to take effect tomorrow and this involves something called the universal proxy card and botattles over the board, investors can vote on any mix of their preferred candidates previously investors selected either the management slate or the dissident slate. in other words with that political analogy, they would havevoted for a one party ticket but the corporate defense practice says that it is a boon to

ckft areak >>> coming up on "techcheck," we mentioned paypal this morning, down about 50% for the year. b of a thinks now may be the time to buy. we'll talk with the analyst behind their call this moncht. >>> don'tmiss hpe ceo antonio neri at the top of the hour when we get to "techcheck." don't go away. with directv i can get live tv and on demand together: football, housewives, football, housewives... whoops. i just want to talk! get the best of live tv and on demand. call 1-800-directv power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with powerful, easy-to-use tools power e*trade makes complex trading easier react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity what if you were a major transit system with billions of passengers taking millions of trips every year? you aren't about to let any cyberattacks slow you down. s

you know, they really need what i will call a system akin to paypal. that would be ideal for pinterest and then right now if you had pinterest and it had something about italian villas, you would have to go to abercrombie and can't or rent savanna if you want to rent and you can't go to pinterest. >> and i want to talk about a name once among the growth companies and then went public. it is below 10 and it had already been down sharply during the month. not enough to reflect the good numbers that would be accepted by the marke . for the third quarter, palantir expects revenue of $475 million. that is up $55 million. and the revenue numbers of $1.9 billion for the year. income from operations up from $41 million-$43 million is not what the market and investors had been hoping. not a lot here. we have had to call but i don't have a lot to share from it. >> and i think what we heard a while ago, this is another thing you did not think that technology should be hurt by. technology was seemingly immune from other parts that are hurt the economy. in other wo

big earns, starbucks, airbnb, paypal and, of course, amd joe will be with me, carrie firestone, stacy rascon as well. michael farr, final trade. >> you've got to watch to see these earnings tonight disney is my final trade i think it will constitutional come back down 36%, growing earnings i like disney. their businesses are coming back, "thor" is doing great, stream sergeant doing great. >> stephanie diamondback energy. report free cash flow, a new $2 billion buyback. they're minting money. >> shannon >> workday we bought this one late june this is the great example of a software stock that can go subscribers. the next couple years, incredibly month in a hybrid environment. >> joe t.? >> on semiconduct ore. we spoke about it yesterday. take advantage of the earnings, the stock has bounced back nicely it's going to get there. >> michael farr, give me something on paypal which you own. that stock has been obliterated. what are your expectations tonight? >> yeah, i've started nibbling on the stock i couldn't own it for a long time i think it will be one of the leaders. yes, this company

. >>> shares of pinterest and paypal both up double digits but still down 65% from their recent highs. they have one more thing in common, activist investor elliott management taking stakes in both companies. leslie picker joins us now with a look at why shareholder activism seems to be picking up lately this isn't the only place either, is it, leslie? >> it is certainly not, tyler. activism saw a slight uptick in the first half of the year, but still well off the highs of the pre-pandemic era the second half of the year appears to be rife with activity as well. elliott confirming stakes in pinterest and paypal this week alone and bankers and advisers to companies and activists say they are expecting an unprecedented second half. >> i think we are already setting ourselves up at a good year but it's likely to be a record year for activism i predict unless there's a major event on the back end of the year, something macro or something that disrupts the markets, there should be a pretty significant amount of activity in the back end of the year >> markets are a key driver here, of cours

. >> also, i want to ask you about paypal here because you have a buy rating on it and $118 price target and it's sitting at 92.66 or something like that is it the perception that it's losing market share in the payment space? >> that's a great question that's the difference between the stock price today and something more of the price target we've done some work that proved historically -- actually in 2021 they outgrew econ by a thousand basis points they outgrew them. despite the fact that they had more exposure to diskregszary goods and now services are doing better and they still grew in-line with econ and the fact is that they're growing inline to outperform econ, but once perceptions die hard and the issue they have is 100% perception and too high of a cost basis with elliott management coming in and cutting costs and i don't understand they need 30,000 people they probably do the same with fewer people that's a great, great, great value/growth name that i think is going to go way higher than where it is today. >> i don't want to put words in your mouth, but i kind of do it sounds

stocks, even like paypal, fallen so far. >> big holiday between now and then, we'll see. >> amazon, could health care be a part of your membership. our next sees the potential for the company to bundle pharmacy business and virtual care. joining us is lance wilkes, what are amazon's ambitions here, remember, haven, the jv between amazon, berkshire, but now amazon seems to be on a shopping spree. what are the major ambitions >> thanks for having me, i think haven and some of the amazon care internally this year, it's really them getting their feet wet and learning more about the business what you're seeing now is an effort to really get a position in the market, probably related to reinventing care delivery, an integrated approach where you're taking convenient locations, digital and virtual care, and probably home care, bundling those together with online pharmacy that could allow them to go further in the market. as a stand alone disruption i think that would be substantial as well. >> it's a long way from here to that stand alone disruption. this is a really tough space, i also no