jim farley has been serious about taking on tesla and his admiration for tesla. how well positioned is tesla compared to ford, rivian? seth: americans -- steve: americans want to know how well gm and ford and rivian are doing, but to be honest, they are behind. they came late to the game. they should have started years ago. general motors has been making electric cars for 11 years and they were only able to make 25 thousand last year compared to tesla's 925,000. they have a long way to go. that being said, rivian makes a great truck, but they are laying people off. they have taken their production numbers down to 25,000 well tesla is ramping their predictions up to 1.5 million. the real people to look at, they saw the writing on the wall. he took battery production in-house early. they have deep pockets, factories on multiple continents. then there's the chinese. most americans never heard of a chinese auto company, but dyd, and others are going to be coming to market 4023, 2024. they are moving faster than any other auto company except tesla. the chinese are sub

>> is great news for tesla and tesla investors. everybody thought it was going to be a soft quarter. we saw 254,000 units delivered. a 50,000 increase year-over-year, 40% growth. the big surprise was revenue and profitability, they hit 60.3 -- $63.9 billion. the largest car deliveries in history in june. i think they are on track to deliver 340,000 units in q3 and i think they will hit 500,000 in q4. if they do that, that will be closer to 50 or 60% growth. analysts were predicting profitability of a dollar $.81, they hit $2.27. they are on track for record deliveries and profits. tesla has got manufacturing capabilities and supply chain relationships no one else has. someday they may not be the king of the hill but for the next year or two they are looking awful strong. emily: they have made 564,000 vehicles so far this year, and say they will make a million and a half. can they really make twice as many vehicles as they made in first half as they want to in the second half of the year? >> they have another plant going online and

tesla up 60%. if you look at where they could be with texas and berlin, annual capacity, is there a surprise to be upset? consensus is below even where tesla has guided. where are you? >> i think over the next six months is probably more risk to the numbers. to those delivery numbers. in part because essentially they are going to have to accelerate slightly above 50% for the back half of the year. we are still coming out of the shutdowns, and still just in the phases of ramping berlin. i want to be clear that i think the next six months, there can be some softness to these delivery numbers, because it all comes down to how the world is going to i guess a line for them to produce more. i think what's more important is just that the market has a flashlight that looks into 2023, i think we forget that when we get our heads wrapped around these quarterly earnings. the question for me is not about what the margins are this quarter, what they are going to be he next quarter, what the deliveries are next

it's only going to grow and it's not to tesla's benefit. tesla is a market leader. they created this market. they deserve tremendous credit for that, but i think the consumers want more than one choice. liz: they do. >> and i think that we need to be careful and there will be better options for investment over the next few years. liz: well, i wholeheartedly agree with you on tax hyundai is coming up fast and while there's a big gap between tesla sales and hyundai, they're all coming, and i will say this about my model y. i'm over the moon about it. it's not the greatest ride. very bumpy. oh, my gosh. >> there's issues with every vehicle. the one i bought i went in making fun of the sales guy because of known issues. he handed me the keys, it was a rollercoaster, so i had to buy one. liz: i get it. >> and these are fun. people should test drive them. liz: elon is dancing here, remember that? he's recently gone shirtless. oh, it's always interesting to watch him and the stock is at 817, craig you say 250 within the next 12 months please come back, thank you so much. >

plus — tesla pulls the plug on bitcoin. selling three quarters of its holdings after a steep fall in the cryptocurrency. we start here in the uk — where a final battle to become the next prime minister is taking place as the country faces the worst cost of living crisis in a generation. as you've been hearing, formerfinance minister, rishi sunak, and the foreign secretary, liz truss are the last remaining candidates. they will now face a vote by conservative party members around the uk — with a result expected in september. whoever wins could mean a very different approach to the economy. truss says "you cannot tax your way to growth" — she is proposing more than 30 million pounds in immediate tax cuts. sunak wants to delay the tax cuts until inflation is under control. "borrowing your way out of inflation", he says, "isn't a plan, it's a fairytale". the economic challenges facing the next prime minister are huge. last month, the rate of inflation hit 9.4% the highest rate for a0 years — driven by a leap in the pric

>> twitter or tesla? >> for me, it is twitter all day long. i can't stomach tesla. we are in a difficult environment. i think the story is a very exciting one. there are carmakers i would rather own. >> you can see the road ahead for tesla in terms of the shared gains and the new factories spirit. we don't know what the road ahead is for twitter on the things we are waiting for and waiting for. >> there is no good news. to me, this is a would you rather. as a company, we have questioned the box and we have determined there are no other buyers for it in the high market selloff. by the way, later on in the show, we are going to start talking about how high multiple tech is starting to rally. twitter all day long. >> courtney, what would you say? >> i have to agree here. i have to do a would you rather. i think tesla is just so expensive right now and i don't know how much we can justify that especially when you compare it to ford or gm where it is significantly cheaper. not that i would necessarily buy on twitter, but i would go for twitter. >> i feel like pete might

i think there is still enough luxury auto demand for tesla. tesla is the best ev. tesla cvs compete with control complex to an -- combustion interviews. i see no port on demand anytime soon. haidi: how important in a highly anticipated do we see getting the model y suv in the cyber truck? >> i think it's important to launch the cyber truck next year if they want to heavily compete, fully compete in the truck market. because they are ramping up production, gm is coming out next year. tesla does not want to be late to the party and risk losing that first thing that they've enjoyed right now. so as long as they are unscheduled and come our trucks in the middle of next year, i think they will be competing in doing well in the market. haidi: always great to have you with us. he was mentioning one of the key risks of tesla with further lockdowns of how it could impact the chinese factory. adding just 12 high mid risk areas with a subject to lockdown. adding four new covid cases outside of quarantine, 17 local covid-19 cases in 12 new high mid risk areas that are subject

why won't that happen to tesla >> it will happen to tesla i don't know if it will be crushed to that degree even if it does, i'm long term bullish on tesla even if it goes below $400, i'm happy to hold it for the long term i see it breaking through the trillion mark in the long term about it we're talking about maybe even 8 to 10 years ahead i'm happy to be a long term holder of the stock. there are several models of the entry to market votes on the low end and high end of the market so the association between tesla equalling electric vehicles will start dilute over time as consumes have more options and as we know, you know, the battery division did great the solar division due to capacity constraints did very, very poorly. and those government subsidies that they sell over in europe will obviously also diminish over time if, you know, more manufacturers are producing evs. they need to bite government issued credits anymore from tesla which is a big part of the revenue as you know. >> looking at the issues of supply and demand. i know this quarter will see the impact of the shutdown

. >>> a tough second quarter for tesla. shares on a bumpy ride following the latest results showing output hurdles. >>> and another tech giant announcing plans to slow down hiring on growing fears around the economy. it is thursday, july 21st, 2022. you are watching "worldwide exchange" here on cnbc >>> good morning welcome to the show. two of us on your screen i'm dominic chu at cnbc global headquarters and that is brian sullivan in frankfurt, germany following the latest on the european energy crisis and restart of the nord stream 1 gas pipeline from russia following the end of scheduled maintenance. we will have more on that story with brian in a moment first, let's kickoff the hour with the markets and your money. futures are indicating a modestly lower open. dow lower by 82. s&p down 11 and nasdaq down 32 tech and growth stocks are helping to lead the markets higher they did so yesterday. the nasdaq jumping 1.5% with the dow and s&p notching modest gains. the nasdaq is the winner this week up nearly 4% the dow is up 2%

but despite hurdles, tesla beats analysts expectations in the 2nd quarter. we'll check in with wall street. and protesters and panama block roads. again, they're rejecting a government deal on fuel price cuts that they say was signed under pressure. but welcome back again to the w business. i'm christy plaza in berlin. europe is facing a looming natural gas crisis. this winter rushes president vladimir putin has warned that supplies sent through nordstrom, the north room on pipeline, which have already been reduced, could be cut off completely to prepare the european union on wednesday, told member states to reduce their gas usage by 15 percent through next march the european commission has asked you citizens to use less warm water, so which of the lights and turned on the heat and air conditioning to prepare for a wind. so without rushing gas, russia is black mailing us. russia is using energy as a weapon and therefore in any and wet event, whether it's a partial major cut off of russian gas or toto cut off a brush from gas. europe needs to be ready. and in

tesla says it has cashed in. u.s. futures under pressure after the s&p 500 managed to gain ground for a second session. but it was a volatile day with tech taking a hit one point after google says it would pause hiring for two weeks. we are watching tesla paring back from earlier gains after the earnings. the 10 year yield is above 3%. oil is falling in the asian session. under pressure in the asian session but in new york we had to pare back some declines given the risk on sentiment around the equity space. look at this chart. we talk a lot about the china property sector and the crisis there. i'm fascinating about what is happening with the u.s. real estate market. existing home sales falling for six consecutive months to a two-year low. prices are high. mortgage applications are at the lowest in 22 years. if you have not checked out the story on bloomberg, more americans are moving to europe because of affordability. italy, spain, greece are some of the favorites. annabelle: let's look at asia today. we have that b

liz: no price targets for either gm or tesla, cuts by you? >> still $1,000 tesla, $50 on gm. and when i look at tesla, it all goes back to my view it's a disruptive technology player in the midst of of what's going to be a mass transition to evs. liz: okay. there were 679 at change. apple, you've been very hot on apple many part because of the role it could start to play in sports streaming. this earthquake of a headline, ucla and sc are are leaving the pac-10 to go to the big ten. you've got to figure when these contracts come up, there's going to be a hunger game withs, amazon, apple. do you see them a play in here? >> i think nfl sunday ticket, we believe they're potentially in the winner's circle versus amazon. and when you look at big ten, right there cook calls, ultimately, he calls his individuals and basically says get us back into the negotiation because i believe apple will play a role in some sort of big ten tv package which could be upwards of, you know, over a billion dollars annually. liz: well, usc v. ohio state, can you make a prediction? >> i'm still going to

the higher-end reads meanwhile, close the session highs, only 30 minutes away from s&p 4k we've got tesla tonight. let's get to the half. >> carl, thanks very much. welcome to the halftime report momentum for the bulls do they finally have it? and if so, where can it really take stocks from here? we discuss and debate that with the investment committee with me on set is jenny harrington coming off the best day since june 24th. a nice little reversal here. we were negative early on. we're positive now dow's trying to get to a triple digit gain for the day 31,913 s&p 500 trying to get to a 1% gain today, 3968 nasdaq, the outperformer, 11,916 we repaired some technical damage all three majors above their 50-day moving average for the first time since april bitcoin at fresh highs since mid june is there momentum for the bulls? can it last? >> i think it can last one of the things i've been thinking about a lot is magnitude. when i say it can last, this does not mean i think that we're going to ricochet off the bottom i don't think we're in the land of, what do they call it, alphabet-shaped re

we are talking more about tesla earnings. elon musk saying the company is set for a record-breaking second half. we will break down the numbers and find out what else he had to say on the earnings call. this is bloomberg. ♪ >> taking a look at u.s. futures. we are pointing a bit lower here. the nord stream pipeline and all the like happening there. it's like about earnings because they have been out delivering. tesla shares boosted extended trading which was volatile with better than expanded results. there getting production back on track. they made more ev's in june than any other month in the company's history. we also learned they sold most of their bitcoin holdings. david: su keenan is with us in new york. let's start with the numbers which were quite good. >> tesla beat on profit estimates and the ceo said the quote supply chain hell that the company has been through may be coming to an end. it is musk's view that the commodity price rally is tapering off, and he is optimistic the company can achieve record volume. th

not for the construction of tesla or their own construction. emily: what are we thinking, was this for an outside secret project or a secret project for the ceo? ed: we don't know. sources tell us that omead afshar told some employees to generate the order and told them that it was literally for a secret project. beyond that we don't have much more information. we know that it was generated earlier this year and that the consideration of suspicion around it has been in place for a number of months, first through the internal auditing team and more recently the head of legal themselves who have been looking into it and the involvement of omead afshar. emily: a number of other employees have already lost their jobs over this. is omead afshar, you know, is he going to keep working at the company? go on a leave of absence? ed: according to sources we have been told that people have been fired and connection to this and that the consideration right now is that omead afshar will be put on a leave of absence. we don't have timing on that and we did of

the tesla ceo could face bigger fines if he loses not to mention the tesla stock if twitter shareholders think he is distracted in a public legal battle. look at this tweet he recently tweeted. he is pretty confident. twitter will have to reveal damning evidence in court. some say that will be tough to put off. the tech titan chose not to review twitter's data agreeing to the deal, doesn't mean he waived his right to ever see it. musk's lawyers refused a request for over two months, stating quote, sometimes twitter ignored mr. musk's requestions, sometimes it rejected them, sometimes it complained to comply while giving mr. musk incomplete or unusable information. we cannot rule out this is another dramatic ploy from the tesla ceo to negotiate a lower price with the stock trading 39% lower than the offer, some analysts say they gets the company for 30 bucks a share. nonetheless twitter is in a bad spot, facing daunting task of fighting him in court fighting morale. some are considering jumping ship. every advertiser is asking themselves did i get my money's worth with number of bots on t

have a great day. >> bullish on tesla. >>> up next, the latest housing numbers. are rising prices scaring buyers out of the market? we'll find out next. ♪ ♪ >>> welcome back to "the exchange." inflation was early to hit the housing market sending home prices soaring, but now that inflation is actually seeping in, is it scaring off all of the buyers diana olick has the latest mortgage numbers diana? >> kelly, you're right as consumers worry about inflation fewer are buying homes and if they are, they're buying less expensive homes the average loan size strength, as well. mortgage applications to buy a home fell 4% for the week and were 18% lower than the same week a year ago and that's according to the mortgage bankers association seasonally adjusted index and the mba did adjust for the july 4th holiday, and this is the average rate of the 30-year fixed stayed put the average purchase loan size was $415,000 and that's after reaching a record high $460,000 in march of this year and that drop is likely due to moderating home prices and weaker buy are activity at

liz: net worth is held in tesla, obviously. charlie: and that's how he's paying for this so what are some of the trades going on? let's backup. what are the bankers telling me, they say look at the stock price about $39, $40, they think that's where they strike a deal. that is the general assessment among bankers, okay? i'm not saying it's going to happen but i'm just telling you when you talk to investment bankers they think settle, they think musk goes through with it, they think this is just a dance, to get the deal down to 40. now, does twitter go for 40? that's where it becomes interesting. liz: can i just tell you right now, the market cap for twitter is at $30 billion. do you think twitter is going to go from 44 billion and accept this? charlie: because it might go to $20 billion. i mean, there's not much in this company right now. we are heading towards a secular decline in online advertising. liz: doesn't matter, he signed it. charlie: doesn't matter. liz: what do you mean it doesn't matter? i guess that's what the jud

remember, he claims to be taking tesla private at $420 per share several years ago. and then it came out in the subsequent months that the plant was always half-baked, some people thought maybe it was a marijuana joke, a 420 reference. it never happened, he was sued by the f sec. a similar plan of attack may be going on here, where, potentially, he went into this half-baked and now, when he saw what he was buying for the price, maybe he truly decided, you know what? i don't need this and by the way, he was able to unload quite a bit of tesla shares in the meantime, in an effort to fund his deal. so, he has sold billions of dollars of tesla, that may have been a way for him to do this more artfully, other than sending alarm bells to people that he thought tesla was overvalued, but is also on the table. >> alex, no you're not an attorney but you know an awfully lot about this deal and how things have gone up to this point. you made an interesting point to me earlier when you talked about elon waving that right to due diligence, now this letter from the attorney says he

emily: does it damage tesla? ross: no. it's a positive for tesla. he's not going to be the ceo of twitter. he doesn't want anything to do with that. he's going to lose billions of dollars. he's a very wealthy man, so he will survive. from a tesla perspective, tesla is an massive growth mode right now. it couldn't be a better environment to sell electric vehicles and they've got to brand-new factories and his focus needs to be on tesla right now because the next 12 to 18 months are the most consequential months for tesla's futures i've seen in eight years i've been an investor in tesla. i'm happy -- it's still a waste of time and distracting, but i'm happy he's not going to end up being ceo of twitter and hopefully he will learn his lesson and focus on what he has done great, which is tesla and i think that's what he's learned. emily: stranger things have happened and i'm going to keep using that fun. ross gerber, always great to have you. coming up, calls for crypto regulation are getting louder but gary gensler says there are laws in place and cryp

tesla posting strong results, beating estimates. results in getting production back while the supply chain issues and covid lockdowns and covid lockdowns in china are still there. here is what elon musk said during the call. >> due to a prolonged shutdown of our china factory the past for years have been quite a few force majeures, and it has been supply chain hell for several years. alix: joining us now, garrett nelson, a research analyst at cfra. he raised his price target to 1125 per share. in the short-term, how long do you think demand is going to continue this strong if we are headed into recession as a rates rise? garrett: that is a good question. it is not demand, it is production. they have these two factories which recently started up during -- they are in the process of ramping up to full capacity. that is going to really strengthen their sales in the second half of this year. while the second quarter was, you know, they had their fair share of operational issues in the second quarter, the end of the quarter on a strong n

tesla and apple. then move to exit. that is meta's message to managers as they look to further cut costs, reduce head count we'll discuss what it signals for the rest of the industry >> we're going to start with a series of price target cuts for big tech targets for netflix and nvidia, microsoft and apple all this morning. nvidia, gaming revenue that has the street worried netflix, a slowdown in streaming spend driven by macro headwinds. apple cut the price target saying we should expect much worse than historical growth for hardware in the upcoming quarter. this gets in the thick of earnings season. john, carl, this is something we have talked about in the past. there is great hopes on the businesses of the three hyper scalers, john. but i wonder if this earnings season could be sort of a reality check. i just went through a list of the biggest players. is that going to weigh heavily on cost spend? >> more important and you look at those stocks on the screen right now, notice that microsoft is down s

tesla not performing today the company's win streak of record deliveries comes to an end after china lockdowns weighed on numbers in april and may. it is a theme of supply chain slow slowdown, which we'll talk about with apple and amazon today. speaking of amazon, it's hard to believe it's been a year now >> tesla shares lower this morning and ending in a two-year streak of record deliveries. phil lebeau joins us phil, i was a little surprised i was a little focused on that blockbuster june number, stronger than in the company's history. i thought the street might be focused on that also >> i think the street is focused on that, but you also have to think of the totality in terms of -- look, q2, we knew the challenges in china, as you take a look at these numbers, keep in mind this is a company twhere most thought it would deliver 256,000 vehicles, delivering just over 244,000 vehicles, but it was the highest production rate ever in june, monthly production rate in june. clearly you see the momentum building as the company is working toward increasing production china was the big dra

tesla is up 10%. it did report better than expected q2 profit last night. this as ford updates wall street about its ev strategy. phil lebeau joins us phil, what is the big question for investors to keep in mind when it comes to evs right now >> battery production, sara, and by extension, the ability to ramp up final assembly if you listened to the tesla call yesterday, a good chunk of the time for elon musk was spent on how they can increase their battery production because that is ultimately the key of getting their sales of vehicles well over 1.5 million or close to 1.5 million. that's what the street is expecting for the full year and they're only at 559,000 right now. today ford came out and said, look, we plan to have a run rate, a production rate by the end of next year of 600,000 evs and we have the battery supply needed to make that commitment and then you have rivian today showing the first amazon electric delivery van. those are going to be deployed by amazon. there's an order for 100,000 of those. so it's all about the battery production and by

. >>> es sencillo, usted se monta en el carro tesla, conducido por el chofer de tesla, y el viaje solo durarÁ 2 minutos entre el centro de convenciones y el resort world de las vegas. una experiencia que definitivamente hay que vivirla. el presidente del centro de convenciones de las vegas dijo que este proyecto busca transporte de calidad para avanzar en el desarrollo del transporte en las vegas. >>> y continuando con esta nueva forma de transporte, y muchos estadounidenses nunca tendrÁn un vehÍculo elÉctrico. segÚn un informe de consumer reports. es que muchos no sabÍan del crÉdito tributario ni los incentivos que se dan por manejar un carro elÉctrico. >>> vamos a la pausa y al regreso les contarÉ el balance de lo que fue un evento y del que grandes y chicos disfrutaron. >>> y mÁs adelante, una mujer del Área de la bahÍa, regresÓ de entre medio de la guerra entre rusia y ucrania. ♪(mÚsica)♪ (comerciales). >>> organizadores de la feria del condado marÍn dicen que fue todo un Éxito este aÑo, el primero de gran magnitud despuÉs de dos aÑos de pausa por el coronavi

the focus now turns to stocks and whether twitter and tesla, which must owns, will take a hit by the investors wanna see must just get back to focus has the space x. because twitter from the beginning is just really been a distraction. it's been overhanging the stock musk sped to take over twitter stirred controversy back in april. critics were concerned the tesla ceo would promote misinformation on the popular social media site, especially on matters related to politics and health. most said, the acquisition was about stopping censorship and defending freedom of speech. analysts say the billionaire, mave, experienced buyer's remorse, is trying to walk away. and the wait is contracts are structured. it's very difficult for buyers to walk away. either their, these contracts are drafted with a hot air to, to provide a high degree of certainty for the sellers. now, terminating the $44000000000.00 contract will have to play out on the legal front. and social media will surely have plenty to say about it. then merlin, al jazeera. ah, so let's bring it, i guess from new york, we joined by

he had to sell off some of his, his teslas stockman. so we did learned that the world's richest man on paper doesn't actually have that much money in the bank. now, his tweets on this topic of swung really from positive and negative to completely bizarre. but interestingly, he did not tweet about this announcement trying to cancel the deal. this came from a statement from his lawyers. that is definitely very interesting. now here's what he says. he's claiming he was misled. now, what do you make of that argument? well, some legal experts say he's gonna have trouble standing that up in court because twitter doesn't make a secret of the fact that it has a problem with bots and fate accounts. and he puts a number around 5 percent. and now twitter, what the musk is saying is that he thinks that number is far higher and that he hasn't been given all the information. but it could be argued that he didn't know about this problem before because he in fact tweeted about it and spoke about it before he made the bid for the company. now twitter is

, tesla shares are higher. i'm not sure why, but we can discuss this adjusted earnings of $2.27 per share. that beat the estimate of $1.8 is revenue dropping from a year ago, but fell short with the margins at 27.9% down from last quarter the company said inflation and more competition for battery sales and other components that go into electric vehicles. the company converted 75% of the bitcoin into fiat currency it purchased $1.5 billion of bitcoin in early 2021. it closed last year with $2 billion in bitcoin on the books. on the call, musk explained for the liquidation. >> we are open to increasing coin holdings in the future. this should not be taken as some verdict on bitcoin it is just that we were concerned about over liquidity with the lockdowns in china. we have not sold any of our dogecoin >> musk talked about inflation >> inflation will decline toward the end of the year. we are seeing prices of commodities trending lower take it with a grain of salt early prognostication is fraught with error >> tes

the focus now turns to stocks and whether twitter and tesla, which must owns, will take a hit by the investors want to see must just get back to focus has to be sex. because twitter from the beginning, you just really been a distraction. it's been overhanging stock. musk sped to take over twitter stirred controversy back in april. critics. we're concerned the tesla ceo would promote misinformation on the popular social media site, especially on matters related to politics and health. mac said the acquisition was about stopping censorship and defending freedom of speech. analysts say the billionaire, mave, experienced buyer's remorse, is trying to walk away. and the wait is contracts are structured. it's very difficult for buyers to walk away. either their, these contracts are drafted with a hot or 2 to provide a high degree of certainty for the sellers. now terminating the $44000000000.00 contract will have to play out on the legal front. and social media will surely have plenty to say about it than to madeline al jazeera. ah, so let's bring it, i guess from new york, we joined by ji

emily: you know, i am curious whether out you are watching this tesla twitter story, tesla is such a massive stop now and we are seeing it get caught up in the ups and downs of the one most twitter saga. getting new headlines from the ceo of twitter in a memo to employees saying they're going hold him accountable for the $44 billion deal. every time any news breaks, you know, it impacts not just twitter stock, but tesla stock. do you see an impact on the broader markets here or is this a separate narrative in itself? liz: i think some of this is very company specific, because this is not something going on across the entire industry. at this point, i do not think there is an impact on the broader markets, but as we get through the remainder of the year, we start to hear things about other companies. i think the m and a activity may pick up later in the year and into 2023, which is not the twitter and tesla story, but the m&a narrative could pick up. what you might find as the economy slows further is that those transactions, those mergers and acquisitions, are happening because of fi

and this blings me to tesla. tell when he what you think is happening here because the stock is improving and elon musk is starting to believe or at least make some noises that maybe we're through the inflation. at the moment, tesla is up 4.5% with about 52 minutes left to trade. where does this go? >> this is another example and like what apple did it china. tesla navigated better than expected and now china is coming back and that's the hearts and lungs of the bull story. also that profitability and gross margin i think was better than expected. my opinion going into the second half of the year, this could be a trajectory for over 2 million units going to 2023 and in the ev landscape, it's still tesla's world and everyone else is paying rent. that's what you're seeing play out, especially also in a risk-off market. investors are catching up to risk and you start seeing that with tesla, but it continues to be the two pillars: microsoft, apple. those are the hall of fame quarters. >> finally, we got to run but yo

amazon, microsoft, tesla. how much of this is a technical trait? >> i am curious to see if this is a sustainable move. >> thank you so much. a great roundup. tesla should be higher. they need a quarter of deliveries and record production. factories in china and germany will remain idle for several weeks. they need to cover the company. we had mixed messages from elon musk about the cash that was going on and they did not seem to paint the picture they would be closing down some of the manufacturing units. >> there were reports out of china and germany. click the plants will be off-line for a couple of weeks this month. click the have -- glass half-empty would say what a terrible time to be off-line. they just came off of this bad quarter where production was paused because of covid and now they are shutting their production again in the glass half-full would say this is all go back better. auto companies typically kick plans off-line and do retooling. you can often get better production after you have had an opportunity to do that. we will have to

one of the richest people on the planet says that he's changed his mind about buying twitter, tesla seo. ellen musk says that fake accounts could amount to a 5th of twit as users. that's 4 times more. but he was initially told the company denies this and says that it will so mosque to push through the deal. we'll begin our discussion in just a moment, but 1st a report from out cirrus phantom on a $44000000000.00 deal to buy. twitter is the richest man the world. isla musk says he's terminating the contract 3 months after locking in the agreement with iq used the company of failing to provide information about fake accounts on the platform and whether they make up fewer than 5 percent of users. twitters board chair says it kept its end of the contract as planning to sue. i think twitter probably would prevail in this. i would think simply because there are, there is a deal. know, he must, can get out by paying a $1000000000.00 fine or $1000000000.00. it's, but it's hard to find a $1000000000.00 penalty. and my guess is that that's what he's trying to prevent is not having to make that 10

he is a very wealthy man so he will survive but to make tesla perspective, tesla is in massive growth mode right now. there could not be a better environment to sell electric vehicles in and they got these two brand-new factories and the focus needs to be on tesla right now because the next 12 months, the 18 months are the most constant once for tesla's future i have seen in the eight years i have been an investor in tesla. i am happy that this is still a waste of time and it is still distracting but i am happy he will not end up being ceo of twitter and hopefully he will learn his lesson and focus on what he has done great which is tesla. >> stranger things have happened. i am going to keep using that. coming up, calls from clear crypto regulations are getting louder. gary gensler says there are laws in place and crypto platforms are not coming forward. more on that next. this is bloomberg. ♪ >> there is a lot of noncompliance as in if you raise money from the public and that public has anticipated based on your efforts some profit, that comes into the securities laws. we at the fc

we should turn to tesla. stock of the day moving higher after topping q2 estimates weighs in on some of the issues. let's listen. >> i think inflation will decline toward the end of this year, we are certainly seeing prices of commodities trending l lower, you know, mainly economic prognostication sol short of there. >> joining us is jeffrey osborn. he has a hold rating on tesla. jeff, why is the stock up, is my first question, given the numbers were okay, and now the 2022 targets look harder to reach? >> thanks for having me on, sara they definitely bead the quarter that was nice to see a bit of a low quality into beat i think the eps headline is why it's up today. we were looking for more and they were very bullish certainly a lot of q&a was on that, but ramping factories, as well as reaffirmation, is the rationale. >> i get why it's good for the bulls to hear that 50% growth. isn't china the key to the story and very unpredictable here with the covid lockdown >> absolutely. a couple keys to the story in ou

and a tesla test. the ev maker expected to report numbers this weekend and a hot streak of records as shanghai shutdowns lead wall street to cut forecasts. first, look at the market, stocks staged a late friday come back, ending april start of 2022 on a slightly positive note. here is bloomberg markets reporter katie greifeld. katie: happy friday. it was a bizarre friday in the market. this chart shows you why. you had bonds in a huge rally, 10-year yields dropping 13 basis points. cash bonds closed early ahead of the long weekend and stocks took off. the s&p 500 finishing over 1% higher, nasdaq 100 up 17%, but stocks, the philadelphia semiconductor index down almost 4%. the first half of the year was bad for tech stocks and the nasdaq 100, but even worse for the chip industry. look at this next board, because it was bad all around, really. hardware and software falling more than 20%. look at semi conductors, down close to 40%. a brutal first half of the year for the chip sector. and today come the pai

we'll get you ready for tesla, united air and d.r. horton next. [music - cover of blondie's “dreaming”] [music playing] ♪ dreaming. ♪ ♪ dreaming is free. ♪ - in the last two years, we quadrupled our team and the pace we're growing, i couldn't keep up without ziprecruiter. they do the legwork and they get my job posting in front of the right candidates. i love invite to apply. i instantly see great candidates and i can invite them to apply. we have hired across all departments, engineering, marketing, hardware, field techs. you can basically tell ziprecruiter who you need, when you need it, and they deliver. - [narrator] ziprecruiter. rated the number one hiring site. try it for free at ziprecruiter.com try it for free at ziprecruiter.com >>> welcome back earnings seen is now in full swing. let's get the action and trade on three important names about to report in today earnings exchange tesla is after the bell. shares higher for a sixth straight session but still down 30% this year and that is on pace for its first yearly loss since 20

tesla -- twitter doesn't want to go to court for a year. i mean, this is crying for -- i'm not saying logic prevails, but logic suggests this is crying for a settlement. and that's what every single expert says. by the way, the courts have been there before, you know? it settles somewhere in the middle. i think there was a couple cases where, you know, contested mergers and, you know, they jus- lauren: i'm an e elon musk fan, i think he's a genius. i would not want to work for him or -- >> listen, i'm sure he's smart. he makes erratic calls, he says some really crazy stuff. 420, deal secure was a lie. b.s. so he's an erratic guy. i don't think, he's not the best ceo with. he's a little too out there. that said, he's smart. he's a free speech advocate, what's not to like about that. but, you this is an interesting one. he doesn't have good facts on his side. lauren: we'll see. charlie gasparino, thanks very much. closing bell ringing in three minutes. the dow fell 313 points to a session low. down 200 points to the downside right now. s&p an

markets are adding to gains on optimism over earnings and now tesla takes the wheel. elon musk's company reports results after the bell closely watched, of course will this be the catalyst to keep the stock's momentum going. plus rising mortgage rates and persistently high prices, and a key indicator of demand falls to a new 22-year low. we'll look at the impact on the economy and more kelly? >> tyler, thank you. >> hi, everybody let's get a check on these markets. as you see some followthrough and mostly in the nasdaq up 1%, a 4% gain over the past two days the s&p is only up four points and the dow is down 120. what's driving tech higher mostly software and chips. salesforce, nvidia amd up another 3.5% the communications services sector of the s&p also doing well today with some big recognizable names leading the way like disney up 3%. not enough to help the dow, though meta up 3% netflix, the best stock in the s&p after its results were up and tyler it's up 5.5% >> we'll start with the stock that investors will be watching after the bell tesla is reporting a drop a

one of the richest people on the planet says that he's changed his mind about buying twitter, tesla seo. ellen musk says that fake accounts could amount to a 5th of twit as users. that's 4 times more. but he was initially told the company denies this and says that it will so mosque to push through the deal. we'll begin our discussion in just a moment, but 1st a report from out cirrus phantom on a $44000000000.00 deal to buy. twitter is the richest man the world. ellen musk says he's terminating the contract 3 months after locking in the agreement with iq used the company of failing to provide information about fake accounts on the platform and whether they make up fewer than 5 percent of users. twitters board chair says it kept its end of the contract as planning to sue. i think twitter probably would prevail in this. i would think simply because there are there of a deal, know he must, can get out by paying a $1000000000.00 fine or $1000000000.00. it's, but it's our a fine, a $1000000000.00 penalty. and my guess is that that's what he's trying to prevent is not having to make that $100

tesla is in china, why can't twitter be in china? and make a lot of sacrifices that musk has made vis-À-vis tesla in china. emily: so you think of elon musk's does the deal as he promised and takes over twitter it could be an entrÉe for twitter back into china? isaac: i don't think it will necessarily be good for twitter's bottom line. it will certainly change the way the social media platform works. we see tesla on one side which is heavily exposed to china. spacex on the other side, and twitter will fit somewhere in between. i think it's possible they might fit closer to the tesla model than the spacex model. emily: how optimistic are you about the future of tesla in china? especially given the broader economic concerns? isaac: i think it depends on how far musk is willing to bend. there's a lot of concerns in china about tesla as a national security right because of all -- national security threat because of all the data it collects. i assume that musk will be happy to continue yielding to the chinese communist party with sharin

it is a very interesting time to be a tesla shareholder. i think if you want to be a tesla bull you have to believe that a lot of these problems including twitter get resolved in the second half and production ramps up at his new plants, and if you want to be a tesla bear, you just have to say like there's too much going on. elon seems scattered. he seems not focused at a time when ramping these new facilit ies is like key to the company, and then you just sit on the sidelines lauren: i hope i'm not going too far in left field but he's got a lot of problems on his hands. that's a joke. dan, al, thank you very much, and potential lawsuits, because people are losing money as all of this is playing out. well the big banks are about to lift up the hood on the second quarter and their earnings reports. our floor show is here to tell us if earnings season will pave the street with gold, after a disastrous first half to 2022 but first let's check the big boards the dow is down 185 points off the low but close to it as we're in the final 47 minutes

. >> we haven't spoken about tesla once i think tesla is going to report -- >> tonight you may be right about that. >> tesla is -- what you want to do, you want to lower the bar, not like netflix did, but when you say you have factories that are furnaces for money, if it turns out they've only burned half the money, then you have to buy. >> you were less bad >> right >> less bad is good. >> maybe only one is a furnace >> i think it was bernstein yesterday said preannouncements haven't been all that active, so we're relying on a lot of these hunker down memos from big tech, super bad feeling tweets from musk, the money burning furnaces line >> i think that every single -- faang, someone is taking something for every one of faang. isn't that amazing >> it may be justified >> alphabet has advertising. >> meta. >> you've got amazon, a piece today about how some of the parts are worth more because amazon retail is so bad. >> zero. >> netflix, minus 2, minus 1 we're supposed to love it? >> right >> alphabet being hurt by advertising? i mean, what kind of -- this is not a group that you want t

the one big development certainly had to be tesla. after the bell, it reported some earnings and revenue numbers that beat the street. the stock is up and after hours trading, but the reality is right now that it dead experience their first sequential decline in quarterly profit in more than a year. a lot of this was telegraphed because they had problems in shanghai where they were unable to manufacture cars and china manufacturing in general was slowed. so some of this was anticipated. the stock is up on all of this, but a little bit. about 2.5%. susan li is following these developments and has more. >> a lot of negative and positive. wall street wants the positive. you're up 4%. we saw the first quarter on quarter decline in a year. you have profit missing slightly. actually, profit came in better. sales missed slightly. gross margins. why do we care about automotive margins? tells how high the costs are, especially for tesla and elon musk trying to bring in the giga berlin. and he's spending billions right now not producing enough

phil, is tesla's dominance starting to erode? that has been the question all along, but we are seeing traction from some of the competitors. >> well, some traction, sara remember, tesla still sells 71% of the evs in the u.s. that's how much of their market share they had in the first half in the first quarter it was 74%. so a little bit of erosion they'll still remain strong over the next couple of years the call from adam jonas, i should point out, is not just about tesla, it is about the auto sector overall and the fact that if we are approaching a recession, you've got a number of factors that could be a headwind not just for tesla. adam jonas cutting the price targets on a number of the auto stocks 5 to 15%. you mentioned slowing sales growth pricing could deteriorate rather quickly if the country moves towards a recession. i want to talk about canoo, this contract with the army is with one vehicle. the potential here is why the stock is up. it's not actually a contract where they're providing x number of vehicles, but the po

tesla's share price — tesla also owned by elon musk — hasn't gone well. many shareholders are very, very upset with elon musk for doing this. his vast wealth is tied up in tesla. so, if tesla is doing badly, it really hurts elon musk. so, many people are speculating that he was looking for a way to pull out of this deal. it isn't really about bots or spam accounts, but about elon musk trying to get out of something that he agreed to. the problem is he's already put pen to paper, so it might be more difficult than he might anticipate to actually get out of this deal. he says he loves twitter, he's a very prominent twitter user, he loves free speech and felt the twitter had lost its way, so he said this had nothing to do with the financials particularly, but about a product that he loved that had lost its way and that he was a "free—speech," i think, "absolutist" he said, and that he wanted to kind of protect free speech on twitter. the problem with that is it's a slightly naive thing to say because then he couldn't really define what free speech was to h

remind us why tesla might bounce on it. katie: the deal here is that obviously, musk is the ceo of tesla. the bull case behind why you are probably seeing the shares move higher, tesla shares over 1%, higher than when i tweeted this, is perhaps musk will refocus his attention on tesla. supposedly his main company. musk has always been sort of a part-time ceo of tesla. he has a lot of projects going on, including spacex. we will see if this move holds two when we get to real trading on monday. interesting to see the after hours reaction. you see the knee-jerk move lower. twitter shares down 6%. tesla shares moving up to 1.5% or so. that is the knee-jerk. caroline: katie greifeld, as always, we thank you for the knee-jerk reactions, ultimate reactions. ahead of wall street week is our very own david westin, anchor of that show, anchor of the politics show for us, and a man who knows a lot about the law. and this is going to the courts. david: the one clear winner are the lawyers. there will be a lot of lawyers charging a lot

we know the impacted workers were working on tesla's autopilot systems. some of them have the option to relocate to the or the rather the tesla office in buffalo, new york. the search is on for a killer in the south bay. this after a homeless woman was stabbed to death in san jose. that happened. >> overnight near the intersection of south market and west san fernando street near the cesar chavez plaza and the san jose museum of art, the woman who was stabbed died at the scene. it was san jose's 21st homicide this year. also in the south bay, police in san jose say they have found an underground bunker filled with stolen property and guns charles clifford has details. well, the san jose police department says that early monday morning officers respond to reports of a burglary along south 10th street during the course of that investigation. they found an individual at a nearby homeless camp in possession of several stolen items after searching the camp. >> they found an underground bunker. the bunkers located along coyote creek at willow creek drive in a h