14 million in cash. Stock is jumping on the news. Viacom saga is ending. Philippe dauman out as ceo and kobe bryant can add Venture Capital to his resume. He will join us later this hour. Futures in Oil Moving Lower with Interest Rates and Janet Yellens upcoming jackson hole speech on the minds of investors a long way between here and friday, jim, but enough to keep us busy. There is actually a lot of corporate earnings. We just did nothing that people that jumps out at people. I look at workday, pvs, incredibly strong, and i am concerned that we are going the undercurrent is going to be oil going down because you mentioned iraq and there really wasnt anything fundamental. I watched Oil Last Week and said, give me a break. I mean theres just the glut has increased, the rig count increased. Its up to near 50 in the oil spigot just turns. I think were kind of in no mans land. Remember, there are not a lot of players. Not a lot of players. Yeah. In terms of producers. Well, we also when we come in this week just say, well, this is a week that historically, i remember this week unfortunately in 1987, this was the beginning of what we thought was going to be a very bad part because there was just suddenly the valuations were crazy. I dont see that. The fed is going to talk about it all week, then were going to talk about it all week. Talk about it all week there will be a negative bias to the week. Last week dudley telling us to mind our manners and now fisher, on sunday, saying that were closer to the target than people give the fed credit for. You look at the employment number youre going to say that. I think that one of the things theyre looking at, not looking at wage growth because there is not a lot of wage growth, retail sales because frankly the aggregate retail sales are not that good. I could go into about retailers. I dont think they want to get caught flat footed with a good employment number coming you. You think it might be. I think it might be. Jobs are good. Housing is strong. I mean its not just good, housing is strong. And, you know, employment is strong. So i think that what they feel like is that, you know, versus last year where we had a lot of good things going on, but we had china, we dont have any intervening events. Weve passed brexit. Im not making a case for it. Im saying its not the end of the world. Not the end of the world. Yeah. Certainly were going to get told this week that a little news on housing, toll brothers. What do you make of this grinding higher in a sub1 move environment which has been 30 sessions without a 1 is that not amazing. Look, ill tell you what i think. I come in, medivation, david has been talking about this medivation biotech company, not even that big of a company, couple billion dollar franchise, and i figure it will get a bid and its got to be where it is. It gets a huge bid. Were talking about fiveyear anniversary of apple and not hearing anything negative. Apple is important. Tech has been a leader. Tech has been amazing. Tech comes in we get bids. Weve seen what i regard international move. You look at the International Stocks theyre not poised for stronger dollars, but the International Stocks just grind higher as you say. The oils have been leaders. I mean i just find that other than the airlines, even the rails have been good. You come back and say to yourself, are we set for a rate hike . We could sell off and still be higher than we were 60 days ago. The market can afford it in a sense . Yes. Again, i do i think the economy is Strong Enough for a rate hike . The economy were the best of a bad situation around the world. But we dont have something exogenous outside that is really bad. I think look, brexit, slows britain but it turns out britain is not that big. The european numbers carl, across the board are strong. When you hear something, when you like listen to some of our retailers and europe is just its over and over again you hear europe is very strong. Very strong. Well hear that from pvs this week when theyre up. Latin america, you were in brazil. Carl, the chatter about brazil is yes, deere reported last week, deere is huge in latin america. What did they say . Were seeing an uptick in brazil. We havent seen an uptick in brazil since 2008 and theyre talking about government stability. Carl, government stability. I know. Some people they are surprised at how much relative stability you were down there. I now you sent andrew to bring soap. I mean, what can i say about brazil. They can make a comeback, then a lot of companies that are there can make comebacks. Right. You mentioned the pfizer deal announcing 14 billion all cash deal to acquire medivation, 81. 50 the price, the dow component does add the leading prostate drug to its portfolio that generates 2 billion in annual sales. Does this mean theres another door opening and this yes. Look sanofi, we thought they locked it up, opens 22 of regren ron. In no mod moods to sell. Does it matter . Sanofi has a war chest. Theyre going to do something. David is not here but what he would tell you, listen, they were ready to buy. Not going to sit there and say we dont need anyone. Youll see biomarine, i dont buy that, biomarine did a secondary. I like jjb very much. It has a good stable of orphan drugs. This is not an orphan drug company that sanofi was trying to buy. This company had a major cancer franchise that gets slotted in pfizer which means growth. Yes. Having already done several measures in the past year and a half. Look, they wanted allergen. Allergen was a very big deal. This is not nearly as big a deal. I think they paid a very full price for medivation. They dont care. A lot of these companies, other than j j, are itching. J j had 18 billion in cash and didnt do a deal last year, waig waited for the biotech to come down. I wonder when they start saying we have to take a look, j j stock at 119, at 126 not long ago. The group is in play again which is great for you asked me about the market itself. Biotech, transports, airlines, where theres chatter on takeover, where you have entertainment doing better, lets not forget that. But youve got health care doing incredibly well. Internationals are just so strong and tech is so takeover filled, i mean im putting together a list for mad money tonight, which is back on because the 70year olympic run is over, and im people were tweeting you this morning saying thank goodness mad money is back. I did mad money from my garden on thursday and friday the numbers were extraordinary. I got more tomatoes than i ever had. Entertainment, viacom is confirming it named thomas dooly as intervim ceo, announced the resignation of dauman in the deal that does end the legal fight between the board and Sumner Redstones national amusements. Dooly has been coo will become interim ceo until september 30th when a permanent decision is made. He and dauman are like peas and carrots. I thought so. I think the chatter will be that cbs, that channel 2 not the drug story. Cbs is going to be in there and something can be made happen. Now if i were les moonves i would dislike that talk intensely. Because i think that moonves has put together a company thats under valued, but the studio seems a little bit shy of hits, the stuff that viacom puts out is so easily time shifted that you can watch it years later. Like i i love lucy but cbs has a lot of live sports. Viacom is left behind. So i dont know. I think it would bring down cbs if they had to buy it. You seem to be saying the hard work begins for viacom. Viacom, look, weve had some pretty good numbers in that space. Time warner, jeff, he put up a good number. I think that disney when like at it, disney stock is not down. I mean again, we did get a lot of negative chatter on espn. They cant get past it. But i do think that viacom is only up because of takeover talk. On fundamentals there was no reason why it could be none. Been a lot of pieces, think pieces about things they could have done two years ago, five years ago, that might have started to be started to pay off benefit us. They didnt see it coming, carl. I say, look, i am on i was on a dozen Conference Calls last week, all theyre talking about is digital. Digital. We have big digital presence on olympics. You know, youll get these companies that just say listen we have to go in more digital because the younger people are there. Jc penney, they want to attract the younger they have to go digital. Jc penney. Big commitment. Yeah. A lot of it is out of flyers, nobody likes flyers, but a lot is recognition that the millennials arent watching old tv. Or if theyre watching it theyre not watching commercials. A different ball game for sure. Trying to get did you watch a lot of stuff on your cell phone . No. Really . You mean the olympics or i fully converted. Wow. I have the disney download. I have everything on my cell phone now. Youve been doing that, though, with football for a long time. The whole pan know ply. I workout to shows that some bbc special, netflix has a lot of new programming. That doesnt seem to matter. The thinking was that sports was immune and clearly no. Its not. Less and less certain. Olympic sports. I think that olympic sports like ncaa and march madness have a quality to them. That key lacrosse, you know, championship involving summit high and dellbar doesnt happen. Espn probably wanted espn 12 High School Sports in the east, but no, theres not a lot of pull. And nfl will have pull. And nba the finals have pull. Maybe if we had anyone to ask about that, that could be exciting. We are going to talk to one kobe bryant in a few moments as hes ringing the opening bell this morning. Theres a guy who brought a lot of game to the nba for 18 years. And a keen business mind and curiosity about business. Everyone has known he is the most rigorous of thinkers and exciting to see what to many is a hero. Of course he went to lower marion high school. He hasnt probably stepped foot in philadelphia other than when he xwaj to the sixers. Doesnt matter. This guy is a thinker and i want to hear what hes thinking about apple. Right . I imagine he has thoughts on that. I know. Pokemon go which i think peaked. Really . Sharmander at the coliseum in italy, im a seller. Mark that down. Geez, we had a surprise japanese did you see shinzo abe. Pushed nintendo. That was good he pushed nintendo. Had a bad quarter. Hes had a bad quarter. Im a seller of him. His earnings per share numbers are way coun. As we said kobe bryant is going to join us. Nba titles, olympic gold, had it all, but his next stop is the investment world. Hes going to discuss his 100 Million Venture Fund after he rings the opening bell. Take another look at the premarket as the nasdaq now has eight weeks up. The longest streak in six years. For nine weeks you got to go back to basically the haynes bottom in 2009. That is something. That says something. More squawk on the street in a minute. Youreere to buy car busy week for tim cook of apple celebrating five years as ceo. He spoke to the Washington Post in the profile last weekend. Stock in that time, 114 . Yeah. He gets what can i tell you, the fact it comes down, gets little credit for what hes accomplished. A Service Stream revenue north of 28 billion that no one has thought people say he backed into. Even something good they say well, he didnt depend on that. Hello. Is the guy not cerebral, does he own the car . Not yet. The one thats disappointing i find the watch, got the upgrade this morning. I did the upgrade. Its like okay, do something. Pronounce Barbra Streisands name right, whatever. Are you i mean were in the cutting edge now of a new phone cycle. Yes. Does not sound impressive. Does that matter . I love the low expectations of the phone. You do . I keep remembering Lowell Mcadam the ceo of verizon saying im going to like it and want to upgrade. Hes head of verizon. He has a huge amount of customers. I think theres opportunity and i think the Service Stream is a very lucrative eps Service Stream, great margins. Write this guy off. Remember 93 when there were guys that said you have to sell sell. Came on mad money and said listen, things are okay and people said oh, its desperate. He came on mad money. Hes desperate. I dont know. I was desperate to catch 16 points. What about when target says apple sales, electronics, down double digits bother you . As you said last week targets problems are targets problems. Brian cornell identified cvs as a problem. What larry merlot said on the css call said its working terrifically. The products that target first who goes to target for apple. Would you give me a break. Dont go for food either, i have to tell you. I mean that was another one that hurt their margins. To blame apple, to maim blame apple is to say you know what, we are going we dont want to admit that there are other issues. They had a gross margin progression, but apple sold a lot more they sold more ipads than i thought, lot of ancillary products. Well hear from best buy. I dont know. I didnt like that comment. Im trying to be diplomat here. But that was the kind of comment that made me say the fool is in the stars not ourselves. And one of the stars tim cook deserved better. You did make that point as walmart came out with their numbers the day after that. Walmart i think is the story about like henry ford. Paying his employees more. Hes started to he was losing employees to other places and now you dont have to train them over and over. Remember, costco said the big edge on walmart he didnt have to spend a fortune training people. If theyre staying you dont got to train them. I like how mcmillon has done this turn. Apple services heard about this thing with Barbra Streisand and surriry. What is that . Talking to npr and said siri pronounces my name wrong. She said its streisand with a soft s like sand on the beach. 317 million other people that have to get in line. I know barbara from way back hes and a stickler. Maybe its a brooklyn thing. But at least one element of Apple Service has gotten its part of the conversation. I think the problem is amazon has got its own pronunciation game thats a game plan thats good and look, i think that apple is so big and so visible no matter what it does, its like the 27 yankees. I dont know. How can they ever be good again. They won a lot of championships. Like the lakers. Interesting. Because just as you say that on the floor of the exchange this morning, nba all star, five rings. At least five. Kobe bryant. You could argue his best days as an nba player are past thats different than tim cook because hes not playing. Hes not playing. But i do look, i just im kind of in awe of him as Many Americans are, because he never stopped competing even though i think some of his teammates werent as up. His last year, last year, i think he played so much better than everybody else. I will not ask him about that. Its about business. Hes a hero. But incredible focus and i think in business well be looking for the next spot, the next play. I dont think youre ever going to see him on tv saying im kobe bryant, and i like my new video game. I think hes the brains behind the operation, not im kobe bryant and i want you to buy my product. Yeah. Although i probably would if he said it. Interesting to see if later on he lunlaunches a fund which individuals can. I think people would love that. I had bill knight on from phil knight on nike. Phil knight thought he was going to go out of business every day until he became the 25th richest person in the world. Michael jordan still has resonance so kobe could have res sew nags. We will talk to him after the break as he makes his way to the podium to ring the opening bell. Thats coming up around 9 40 eastern time. In the meantime well get cramers mad dash and count down to the opening bell on this monday. Dont go away. They may wt the latest products and service but theyemand thbest shopping experiences. Theyre your customers. Cognizant is helping 8 of e 10 largest u. S. Retaers with digital, etheir demands with more responsive retl models. Es tt transcend channels and locations, tipatexptatis. Creati new ws to engag eve iginable tipatexptatohpoint. Its a new d in retail, and togeth, re ildinghe store ofheuture. Digital works r retail. Lets talk abo how digit works for your business. [announceris it a force of oror sesvent . Summerf audi sales event is here. Get up ta 5,000onus on sele audi models. Here he is, kobe bryant of the l. A. Lakers, pointing to cramer as hes about to ring the opening bell. We will talk to him and jeff stibel as they launch a 100 Million Venture Fund. Lot of Management Changes today, all sorts of companies. Yes. I really like management change. Ive not been a fan of valeant because of the balance sheet. Strong ceo could change things. Paul is a man who has been cfo. Bill ackman, closely affiliated with valeant used to have a stake in zoe ed is. Animal health. Juan comes on every quarter for mad money. Im telling you the cfo is really good. Going to lend an element of stability which is what the bulls need. Bears, i dont know. I dont think theyre prepared for this. Joe papa may have had a very good conversation with him, why leave zoe et tis which has been a success for valeant which is going to be a challenge. I like this move. Valeant shareholders should cheer it. Yeah. Im trying to think of a corollary. Like someone leaving x for y. If you saw someone like mcer inry ineny from 3m to bogey mcinnerry to boeing, ed breen who moved over to do great things at dupont, typically a cfo is not as important, but here it is. 30 billion in debt. I think this is an exciting move. Again, im not a big fan of valeant but get rid of debt and there is a guy who can do a lot of financial good. Zoe tis since pfizer spun it off has been on fire. I like this move. Great cfos are hard to come by. [ inaudible ]. As the cfo. We know you and carol. Well talk about the other management moves today and of course get the opening bell with kobe bryant when squawk on the street continues in a moment. Get funky with your chicken. On average, one in 6 americans will get a foodborne illness this year. So, learn the right temperature to cook each type of meat. Keep your family safe at foodsafety. Gov. Youre watching cnbcs squawk on the street live from the Financial Capital of the world. The opening bell in about two minutes as we kick off a week thats going to have its share of earnings, best buys, hp, dollar generals, some macro data,