Our roadmap begins with shares of mcdonalds after reported earnings that mixed expectations. Well dig into the report. United technologies is up on earnings. Ceo Gregory Hayes is going to join us live for an interview. And the Democratic National convention kicked off with a bang. Well go live to philadelphia for the latest. But first up, mcdonalds with earnings. Sales in line, but earnings miss on the bottom line. 1. 25 a share, global comps up 31r3 31. Stocks are down 2. 5 . A year ago they were down 2 and people are looking at all Day Breakfast and saying, is this all its brought. I think theyve got some promotions that are good. The stock rangers on pokemon g japan, so it was where it was before this. Its by no means the swan song for easter book. The guy has done a remarkable job up 30 points. Can they miss in a quarter period . Yeah. The rest of the world doing pretty good. I think easter brook has done a good job. I dont think all Day Breakfast has done its growth. You need some technology. And i know hes going to Bring Technology but he hasnt brought it yet. Especially at the interface where you order. Exactly. Analysts looking for expansion of breakfast, but comes on a stay stiefle takes panner a p panera, chipotle. The downgrade says, look, were going to go in recession and these stocks do poorly in the recession. Youve got twin downgrades on the industry. I dont feel the call because i dont believe were about to have a recession, so its hard to just onifiy all ify on a gro. If you listen to the wage calls on the democratic convention, the steifle call is a tough call. We got two cells in the chipo e chipotle. I dont think its justified but i recognize this industry call is going to res nate all day. They say recession likely in three to six months. Im glad he became the chief economist. Well stay home and have peanut butter. Schmucks is the plan. Schmucks . Yes. If you say so. Thats the plan. Spam. Hormel. Do a little deep pantry. I thought campbells did a good job. I even ate the baby crackers, banana. Utx out with a beat and a raise reporting adjusted quarterly profit of one dollar 82, raising the fullyear forecast. Well talk to greg hayes later on. Dupont raises its full year. 3m with a miss cuts the full year guidance, and cat beats but cuts its Profit Guidance again. Job cuts, take a listen. Were leaning now, but were going to get a little leaner and meaner and thats one of the reasons we took our outlook down in the second half is for a little bit more restructuring to come for 2017 and beyond. But were looking at a very strong balance sheet, pretty good cash flow in the first half of the year. Were on solid ground here with our market position around the world and doing internally and operationally, very, very good. So they take that restructuring guide from 550 to 7. I cant believe the guy is able to come on and smile. They have become leaner and meaner. When you watch oil go to 42, you think he mentioned oil and gas. You cant have it. Oil cannot go below 40 and maintain. Hes being very cautious mining no real turn, versus dupont, ed breen. There was every single line item was better and well hear from the growth that was more than General Electric and honey well. When youre in a bad neighborhood, do you all right. 1 organic revenue growth. Hallelujaw. 3m is doing minus. 25. You have 3m not doing as well, ge, honey well not doing as well. Greg hayes, i dont blame him for coming on at all. Looks like that 100 plus, honey well bid was a nice no do. It was an aint going to happen from the last time we spoke to mr. Hayes, discussing that honey well bid, made it very wellknown they were interested. As he said, it aint going to happen. Do you want to hear that . He was definitive. I would love it. He talks like the rest of us. This is greg hayes on our show a few months ago. You just cant get this deal done. As much as it makes sense in a headline, it aint going to u n happen, jim. He speaks english. He speaks like we do. Hes not practiced. There was no coach do you think there was a coach there . Well, there there was. They were hoping he would stay on sort of message, but he he went with the, im a real person answering real questions. Hes too good. Yes. And ed breen, i like these guys. Were going to be hearing from dow, i believe, of course duponts merger partner. Lets not forget that enormous deal moving towards completion amid the separation of the businesses over time. I think they may close that deal. I think its done. You think it may . Why even use the qualifier . Because i think theyve got the right disposals. Theyre not fighting the government. Its about seeds. When i look by the way you know, can we just sometimes solute people . The dupont seed number was extraordinary. They had 3 growth, up 12 in terms of earnings. Everyone did poorly in that. He did great in that. Volume growth, really large. By the way, ags new products. You dont have a lawn. Its more for latin america. If you had a lawn, you would know. Thanks. As of now, i do not. Lawns help to not understand america. If you follow twitter we do all the tweets of your blaplant tomatoes. I dont to hear again about my plants. This is me being likega ghan, so leave it out. Its not like Marlin Brandow . Its more like marlin saying, you got the goo. I can see the horror. And not starting as smoothly as planners had hoped, john harwood is in philadelphia to tell us what you might have missed last night, john . Reporter carl, democrats came into the convention with the problem of decent. We saw them very angry over the leaked emails showing the dnw favored Hillary Clinton. They forced the resignation of Debbie Wasserman schultz, the party chair. They took the gavel out of her happened. They even booed Bernie Sanders when he called for unity, but the Democratic Party threw everything they had at this problem trying to bring the Party Together last night. First of all, they tried a famous hollywood comedian, sara silv silverman took the stage. He was a Bernie Sanders, and appeared with al frank in, the saturday light comedian. She told them to stop it. Can i just say to the bernie or bust people, youre being ridiculous. [ cheers and applause ] reporter then they had the populous hero Elizabeth Warren out ripping donald trump and Bernie Sanders himself as the cleanup speaker for the conventions first night, made a passionate appeal for unity in the service of a greater good. Trump thinks he can win votes by fanning the flames of fear and hatred, by turning neighbor against neighbor. By persuading you that real problem in america is your fellow americans. People who dont look like you, or dont talk like you, or dont worship like you. Any objective observer will conclude that based on her ideas and her leadership, Hillary Clinton must become the next president of the United States. Reporter but the emotional heart of the evening fell to michelle aloobama, the first la. She told a moving story about how the white house had been built by slaves and now her young daughters play in the yard with their dogs, said that thats what makes America Great right now, it doesnt have to be made great again. Dont let anyone ever tell you that this country isnt great, that somehow we need to make it great again, because this right now is the greatest country on earth. Reporter Michelle Obama delivered that speech without ever mentioning Donald Trumps name, but with the highly effective takedown, she ended it by saying, Hillary Clinton, im with her. Bill clinton tonight, is going to give him speech at the convention that will be the prime speaker in the 10 00 p. M. Hour. Bill clinton has been terrific at past conventions including the 2012 convention on behalf of president obama. Well see if hes still got it tonight, carl. Thats going to be one high wire act tonight. Well be watching tonight, our john harwood in philadelphia. Yesterday, you said if you think trumps going to win, you have to sell industrials. If the demes are going to win, weve got glass steagall. Last night was not a antibusiness night. Ive been going back and forth. The ceo of new core, a company that has benefited from tariffs. The United States basically shut out korea and china and you see the earnings come through. Remember, donald trump said, listen, we should pull out of the world trade organization. Im beginning to think this is a little bit of hiyperbole. Its too much of a tariff. It would be a shut down of trade. Remember trump came out very against nafta. It is very interesting we have a carrier plan from indiana to mexico. New core building a plant in mexico, about 15 minutes from my place down there and what i could is mothink is most intere is theyre not closing anything. Are you keeping your business in the United States or are you closing down and moving to mexico . That inspires trump. You heard him yesterday, trump speaking about apple, he said theyre going to do it. Theyre going to bring iphone manufacturing back to the states. He has this view. How in the world is that going to happen . How what . All i can tell you is tonight, there are you know more than 25 buys. Theres one sell put on yesterday. We will get some i know we got a lot of earnings to discuss but verizon will be among them because we continue to see people keeping their devices longer and thats a read through to apple. It sure is, and Texas Instruments. And tmobile and some others are getting this week. Were already gotten vz, and print. I am a martello believer. Your pokemon team. Hes on yellow but that has to do with the color of sprint. Hed be on blue if he worked at another team. A lot of earnings to get to, including under armour and others, and greg hayes on earnings, take another look at the premarket dow fell monday for the second time in 12 sessions. More squawk on the street from post nine in a minute. Its a golden opportunity to experience breathtaking lexus performance in streetlegal form. For a limited time get great offers on our complete line of f sport performance vehicles. At the lexus golden opportunity sales event. Keep your eye on under armour today, down about 2 in the premarket. Earnings meet, revenue in line, but some scrutiny online. Well talk about that and a lot more when squawk on the street continues. Can a toothpaste do everything well . This clean was like pow. It felt like i had just gone to the dentist. My teeth are glowing. They are so white. 6x cleaning , 6x whiteninga in the certain spots that i get very sensitive. I really notice a difference. And at two weeks superior sensitivity relief to sensodyne i actually really like the two steps step 1 cleans and relieves sensitivity, step 2 whitens. Its the whole package. No ones done this. Crest healthy, beautiful smiles for life. [announcer] is it a force of nature . Or a sales event . The summer of audi sales event is here. Get up to a 5,000 bonus on select audi models. All right. Weve got about 11 minutes or so before we get started with trading on this tuesday. We want to talk telecommunications. Verizon out this morning, weve already heard previously from at t and sprint. They dont look great, but they dont look terrible. Turn was better, ebitda was better, but not a pllot of plan when it comes to people homes. Were looking for 75,000. 86,000 postpaid, not nearly as good as print which added 180,000. Sprint was more Competitive Price wise. Marcello saying theyre going to not be as competitive, maybe raise prices. I thought it was most interesting, the comment on yahoo, scaling up to be a major player. Bought by verizon. Yes. Verizon is a domestic company. Theyre talking about that and i just think they are trying to come up with something that is not just cell phone. Maybe thats because, again, everyone is concerned that apple will be just plain bad tonight and that 7 doesnt do what people think. Mcadams thought the 7 was going to be great, but thats his book. That is and people say thats why when you see people go past the equipment installment plans then their bill comes down, so the argument in terms of keeping your phone, suddenly, its cheaper, why wouldnt you keep it. Others say what youre hearing is the 7 are what people are waiting for when it comes to apple. As for verizon and this new theyre calling it an ecosystem around broadband and the enter n net of things. Can they offer something we take . Maybe the International Package and you get it if you take a verizon sub, but you dont go elsewhere if the nfl would give them exclusivity. I think thats what drives people to keep the service they have yes. Which of course is the glue, or change carriers. Sports does tend to do that. What sprint was saying, is its price. Sprint was a great quarter. If you can make it noncommodity like direct tv, with at t, maybe you can shore up. Now, verizon, it doesnt really need to shore up, its the biggest. No they reiterated their guidance. There is the cost of that strike and the wire line margins were pressured as a result of that. That did hurt things. The call is going on. Well give you more as we get it. But this is becoming major communications company, not a major cell phone company. Well be watching verizon, and the opening bell coming up, and joe swedish, from anthem, is going to be joining me since the government blocked anthems deal to block sigma. Announcer alvin and the chipmunks want to remind you bacteria can hide in food and make you ill. Wow announcer but you can keep bacteria from ruining your day with 4 simple steps clean, separate, cook, and chill. The roadchip to food safety starts at foodsafety. Gov. So i can take my Trading Platform wherever i go. You know that thinkorswim seamlessly syncs across all your devices. The markets hot. Sync your platform on any device with thinkorswim. Only at td ameritrade. Youre watching cnbc squawk on the street live from the Financial Capital of the world, the opening bell in five minutes as we chat a little bit earlier, make some room for the utx ceo in a few moments. Weve worked our way through a lot of earnings and have your eye on some things that arent posting numbers. Most mobile eye. We dont know what happened with mobile eye and tesla. Tesla is auto pilot and is a little opaque about what happened. Its crushing it. A lot of crazy earnings. Under armour, i thought was fine and you talked about their opening a new store. Taking over the old faoschwartz, one of the most expensive rents in the city. The inventory is still down from the previous quarter and theyre hurt by sports authority. What theyre spending to get sales is too high. Is it . And i think people will focus on that later on. Gilead later used the line you never want to hear about a big new drug. They basically said, there will continue to be a gradual decline in new patient starts about their hepc, that was pretty much all she wrote. But their guidance didnt seem how is it impacted as a result of that, jim . Thank heavens theyve cured a lot of people. They have. Its 12 weeks, its very expensive, but then youre done. Right. Its not a maintenance drug. Its not like taking lipitor for the rest of your life. Celgene, that its not applying for a new version for multiple myeloma, but thats a great maintenance drug. It doesnt hurt your pro hit margins. And tc ventures, he jay came in and bought a ton of stock from netflix. 600,000 shares, the lead director of netflix, that was noticed. He was on the board of street. Com. Wow, jay didnt have to buy that, and thats snapped a lot of the short sellers next. Now theyll come out and say jay doesnt know what hes doing. The reason ive been behind netflix is tvc told me this is the company to watch. Jay hoge doesnt buy any islands but thats a lot of money. That is a lot of money. As much as steve nguyen. Dont forget, he bought and bought some more. They report this week. Fbr does cut time warner. Disney has had two downgrades as fbr seeing peak earnings in the studio. They had that alice didnt do so good and theres people itching away from espn. Time warn time warner faired pretty well here. And Great American told a pretty good story from the time isnt 60s, right . Yes, there has. But theres still concern about the cable networks. That will be dogging this group forever. Yes, it is. The major star yesterday when you talk about retail, gap stores, nordstrom gets an update today. You see the restaurants down and the retailers up. It was a flip in the previous quarters. And for all the talk we just made about downgrades in restaurants, goldman does take starbucks to the americas conviction. They said 19 upside. If you owe us the call, howard schultz, this 4 comparable growth in america was a problem because they had an introduction of the problem and they changed the loyalty thing. And they had the frappaccino happy hour and they screwed up. Howard schultz said that. It seems like they cant do both of those at the same time. Goldman using the 69 price target the whole way, but i thought this was a very important call. By the way, also the whole foods take into a sale call by them, competitive environment, sprouts take to a buy. Lets get the opening bell on what already has been busy earnings day. A lot more coming tonight. Get a look at the s p at the bottom of your screen. At the big board, United StatesCommodity Index trust celebrating the 10th anniversary of the United States oil fund. At the nasdaq, retail opportunity investments, operating on the west coast. Texas instruments. And whats so fun seny is 3 years ago we would be praising 2 order growth. They did a really good job in execution. Not a good week for apple in that. I keep pointing that out because as we know, when apple reports tonight, 27 buys, one hold one sell, two holds. The midday sale yesterday, i think its important. Remember i say theres a lot of soft buys in apple. Jpmorgan comes out and says numbers are going to be disappointing. His September Quarter is down 1. 5 below the consensus, but its still a buy. All o