Just bought valent irnts and icon prince has died, wee talk to b. E. T. Founder be his impact around the world. The market seemingly breathing a sigh of relief on this today, Julia Boorstin will bring us up to day. Julia . Dish and viacom came to the deal in the 11th hour, this sending shares higher today. Up now about 12 , the stocks now in the green for the year. Analysts saying 14 million customers it could have been a catastrophe secure since the ratings happened in decline. Now, in addition to keeping viacoms 18 channels on dish, this multiyears renew at includes putting the viacom content on sling tvs direct to consumers skinny bundles. Dish shares are up not quite as much, but analysts say this could help dish grow slingtvs subscriber for the skinny bundles. The fact these two sides did strike a deal did protect the tv bundle for a bit longer. Mike and kelly, back over to you. And now to General Motors earnings beat. Phil lebeau has the story there. Hey, phil. Hi, guys, the story about General Motors is one they had better than expected numbers on both of top an bottom line. Take a look at what they earned 1. 26 per share. Well above consensus, revenue also stronger than expected coming in at 37. 3 billion, where is the earnings power for General Motors . Its all about north america, as well as china. North america, the company made 2. 3 billion. In china they made a 18 million. In both instances, its a matter of heavier demand when it comes to the high profit, trucks, suvs and crossovers, thats why theyre raking in record profits. In fact they did have record profits in the First Quarter here in the u. S. Dont forget, when you look at General Motors and compare it with the rest of the market, they continue to lag like so many of the auto stocks do, and one analyst asked Ceo Mary Barra am why not spin those off . Similar to what weve seen with other companies. And gms Ceo Mary Barra said she has no interest in doing that. Interesting, phil. We talked a lot about the fact that the bit automakers are not getting a lot of attention for those who dont seem to be willing to project. Did gm have anything to say about what the assumptions are for industrial voluming . Near the top of the cycle and that were not going to see a dropoff. When you look at the numbers and their earnings, they continue to grow, they already did that back in january for all of 2016. You know, phil, meanwhile, elon musk, tesla, those reports about doors not working, other parts of the model x, theyve had some difficulties here with. Yes, its good news bad news if youre following tesla. Elon musk is over in europe. He was asked by a couple reporters, how are things going when it comes to the model 3. Musk confirming what other tesla executives said. I think it was last week that theyre getting close to 400,000 in model 3 reservations. Remember, that means 400,000 people have put down threat a or from Consumer Reports earlier in this week. Theyre questioning the early reliability of the model x, particularly the falcon winged doors. These are not your standard doors. Theres a lot of complexity in there. They have sensors built in. Theyre not supposed to run into the ceiling or the vehicle next to them. Some have reported as malfunctioning. When you look at tesla, the model examine about model 3s out of the way. And phil, i wonder he made comments to the journal, suggesting we put those behind us, you know, in the age of social media, every time somebody tweets that the doors wont open, were all going to know about it. Are we confident that the company has solved some of these issues . Its early. So its hard to know, and this is still a niche vehicle. Look they havent delivered a whole lot of these. You see these problems with all models of vehicles, but we dont hear about it. How many people get on twitter and say, hey, my chevy c are you familiar uze had a problem, they only do it about the tesla models or a highend model. Thats when they do it. Immediately people jump on it and say aha, we have a problem with this car. Yeah, well tesla gets the up side and down side of being a cult brand. Yes, they do. Lets get to our closing bell exchange. We have hank Smith Jonathan corpina and our own rick santelli. Hank, lets start with you. You have a barbell approach. Now right now the market is selling off the defensive stuff and is maybe rotating toward the offensive stuff, so do you think both those things can work at once. The base case is in a 2 expansion, which we clearly have had and we expect going forward. That makes sense. Not enough growth to overweight the offense, and theres very low risk of going into a recession, so you want some defense there, and you combine that, stocks with better than bondlike dividend yields and Higher Quality characteristicses, and i think thats the way to play this market. What about this market today, jonathan . Weve been weakening all session, the dow is down about 100 points. What are you hearing . Its okay for the markets to go down. We cant have the market continue to trend up. It seems like the market has evaporate rated higher, so to have a breather like this that were having today i think is healthy for our market. Plain vanilla Institution Participation has definitely risen over the last few weeks. I think thats most important of what we are seeing in our market here. After the bell today, like i said earlier, microsoft, alphabet, visa, big names, ge, honeywell. Theres no Economic Data tomorrow and next week should be a robust week. So i think well see investors stay away from this market just for a little while, so they get a better sense of how theyll trend. As we start torts into other sectors, well see the true colors. Rick, yesterday you were flagging these wild moves and a lot of different asset classes, and here were seeing a bit more upside momentum. What is your read exactly on what we see driving things . You know, i think if you look at the fundamentals, and this is at the heart of your great question yesterday, all the things were talking about, industrial, metals, pressure, industrial commodities in general. Does that bring about a change . Lets be honest. Deutsche bank looked like it was melting down, everybody was horrible, probably some phone calling going on. As a matter of fact, a lot of web sites that show records of, you know, central bankers talks, the world changed, everything happened. We know they have huge input and i dont think theres any coincidence. Theres some backfilling going on after mario drawingi, but the real issue a lot of markets have a life of their own. In other words, i think Interest Rates can keep going up. I think that some of these commodities and the crb have made the turn. Theyre not going to go straight up, but the real question is, when i look at mario and talk to sources in europe, and i think about whats going on in london, i think there will be Additional Capital flowing into the u. S. Now its back in their court. Does this mean things are normal and you can normalize . The minute we hear that certain markets arent going to like it. Think about this, kellie, when we had all those horrible january numbers, everybody is talking recession, nothing really changed. Those other markets are the same. I really believe that the logistics of certain markets will outweigh the fundamentals for a while when they get a life of their own because they were so compressed for so long. This goes back to your point about being the 2 growth economy. Were about to lap i think the eighth year of this expansion now, but the growth is still sluggish, appeared leaves us vulnerable to the scares like we winced earlier this year. Right, theres not enough growth to cede traditional excesses in inflation, in inventories, in overemployment that would lead to an extra session, but at 2 , you have to be concerned that an internal shot could throw you into a recession like we had in 2011 with the external shock of the arab spring followed by the japanese tsunami. But this economy is much stronger than in 2011, so i think we continue at 2 , and i think the mantra of lower Interest Rates for a longer period of time is clearly in force, and with that, the bull market continues. All right. Thank you very much. Hank smith. We appreciate that. We have just under 50 minutes left in the trading day. Still a market left and dow down 108. And another tidal wave of earnings is heading our way. Alphabet, microsoft and starbucks are front and center. So well break down the results. Also coming up, the head of Regional Bank speaks to us about the basic as recent string of acquisitions, and which bank could be the next start. Be you pay your Car Insurance premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company tells you to pay up again. Why pay for insurance if you have to pay even more for using it . If you have Liberty Mutual deductible fund™, you could pay no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. Switch to Liberty Mutual and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. My name is jamir dixon and im a locafor pg e. Rk fieldman most people in the community recognize the blue trucks as pg e. My truck is something new. Its an 811 truck. When you call 811, i come out to your house and i mark out our gas lines and our electric lines to make sure that you dont hit them when youre digging. 811 is a free service. Im passionate about it because every time i go on the street i think about my own kids. Theyre the reason that i want to protect our community and our environment, and if me driving a that truck means that somebody gets to go home safer, then ill drive it every day of the week. Together, were building a better california. The dow is back below 18,000, down more than the other averages, in fact down 10 points. The nasdaq is down only by 3 points, so more or less hugging the flat line. Underarmour rising on better than expected earnings. Strong demand for apparel as well as larges for new running and basketball shoes, hello stef curry and the curry 2, they helped, in fact kevin plink called out stef curry. I dont know that you can bake it into the analyst models every year, but definitely a primy um on it, for sure. Financials can typically charge more and possibly make more on rising Interest Rates environment, but not all financials are created equal. Susan lee has more. Typically when Interest Rates go up, thats when banking can charge more money. We crunched the numbers, just to figure out who the winners and losers are when were a quarter away. So lets start with the winners first. The big one is blackrock. So pretty good returns, and they trade positively, get this, 90 of the time. Goldman another big gainer, and trading higher, two thirds of the time. Bank of america, wells fargo, Jpmorgan Chase all beat the s p over that time period, but as you said, not ought banks were made equal. Includes citigroup, which only manages a mere 0. 8 gain. In fact aig is also a big loser as well, down 1 in the quarter, so not a great bet for returns if youre looking to go long on any financials. Overall, banks, financials, typically and do traditionally outperform the markets. Back to you guys. Susan, thank you so much, our susan li. Take a look at stairs of bb t. The Company Reported earnings that did beat analyst expectations, and improvement and revenues led to the better than expected results. In a first on cnbc interview, were joined by kelly king. Talk to us a bit about the operating environment. On the one hand, you did show good deposit long growth, having to take at mor allowances on the energy side of things, how do things shake out . We think overall it was a very solid quarter, you know, our revenue was up 10 , our earnings were up 8 . You mentioned our price was down a bit today, but were outperforming, so we feel good about that. The actual operating environment is challenging today. Weve got on a longterm protracted low Interest Rate environment. That makes it tough for bank earnings. The economy is okay, but not great. Its growing about 2 , so that makes it very difficult to get the asset growth you would like to get, but were kind of settling into that, so i think well have it for a while. I think all of us have to adjust or operating strategies accordingly, and thats exactly what well do. Do you think longer term youll be able to have better returns on equity. I do. Of course you know the primary reason the internal equity is down because weve raised it more than twice since before the recession, coupled with a relatively tepid economy gets you relatively lower. Over the long term, we think well have a better economy, a more naturally upward sloping yield curve and rationalize a lot of the cost weve been adjusting to. So i think well have better returns on the equity, but one of the things we have to all come to grips with is if you want the Banking System to be well or overcapitalized it would be impossible to have returns. Just briefly, kelly, would you put a target will on what youre looking for, medium to longer term . Yes. If youre talking total equity, i would say that currently, you know, good banks are running about 10 . I think in the near term, we can get it up to 12 or so. Over the longer term, they we still and where do acquisitions fade into the strategy here . You completed a couple deals recently. How is the pricing and the availability of deals in the region look . Weve actually done four deals in the last 18 months, and theyve got extremely well. There is not as much activity as you may assume right now because of all the challenging operating conditions, but we still thing there will be opportunities, but we said this morning on our call that we are really focused right now on realizing the returns from the investments that we have made, so were not focused on strategic deals at this point. Were focused on improving operating performance. Frankly i think thats what most of the banks are, so we we need to really focus on existing efficiencies. Kelly king, ceo of bb t, thank you. About 40 minutes to go here. Pretty much all sectors are on under pressure. The nasdaq the outperformer, only down about four, five. Alphabet and microsoft are the big games. Well tell you what analysts are expecting. And coming up, well talk to Black Entertainment TelevisionFounder Robert johnson about the passing of music legend prince. Man, im glad aflac pays cash. Aflac isnt Major Medical enough . No whos gonna help cover the holes in their plans . Aflac like rising copays and deductibles. Aflac or help pay the mortgage . Or child care . Aflaaac and everyday expenses . Aflac learn about one day pay at aflac. Com boat blurlbrlblrlbr the call just came in. Shes about to arrive. And with her, a flood of potential patients. A deluge of digital records. Xrays, mris. All on account. Of penelope. But with the help of at t, and a network that scales up and down ondemand, this hospital can be ready. Giving them the agility to be flexible reliable. Because no one knows like at t. Welcome back. Dow down 117 points today. Well keep an eye on things. The low on the session was minus 131, but pretty much were steadily lower throughout the session. Sun, edison, also filing for bankruptcy protection. The twoyear acquisition bid driving the debt up 16 billion making it this years biggest u. S. Bankruptcy, mike. It shows the limits of financial engineering. They kept pulling the levers until it all ran out. A different one. We did report earlier today that music icon prince has died. He was 57 years old. Lets bring in the founder of Black Entertainment Television, robert the johnson who joins us by phone. Welcome. Great to hear from you again. Thanks, kelly and mike its a sad day. What were your authorities . Do you have any more information that has been reported . No i dont have any more information thats been on the tv, cable news. In fact i was flying down to west palm when i look at my phones on the plane and saw a crawl come across that prince is dead. It was shocking, unbelievable, because i didnt know about some of the prior illness that he had had and the emergency. And i sat on the plane and thought about, pulled out my iphone and started playing some of his opportunities, as i said, he was an amazing icon of music, a giant, a legend. He belongs in the same, you know, height as michael jackson. You know, robert, just to put him into a bit of context. Im old enough, i was kind of a teenager when he was at his popular height. He came, recorded his own music, starred in a film early in his career. He crossed over. Lots of different parts of the industry and the culture in a way you dont see that many artists do. Prince was more than an artist, more than a musician. He was a genius in his ability to take the brand and turn it into something universal. He had no boundaries on his music, whether he replied pop, rock and roll, whether he played blues. He was a perfectionist bar none in music. He also believed in taking his music into other entertainment venues. Thats when he did the film purple rain. His style of dress was something that sort of was a cultural shock to many people to see that kind of dress on a man who had that kind of raw energy of music and the guitar driving sound and the vocals. So when you put all of that together, he was absolutely a unique genius, but a real part business guy. I remember the times i would meet with him, he was quickie, idiosyncratic, but he had a brilliant mind. Can you give us any insight or examples into some of those meetings, when youre talk talking about strategy . The one thing abou