Asman, i missed you. This is after the bell. We have you covered on big moves in the markets. Here is what else we have for you this hour. Republican convention on the way, an event billed as a convention unlike any other in history. The gop is looking to bring together a divided party to take back the white house in november. This as were getting news there is still a fight for ted cruzs name to be placed in nomination to go up against donald trump. Protests for and against trump are growing outside the Convention Center. Were following it for you live with reaction from cleveland. David lets get back to the market consist. Dow ending day with fifth Straight Record close. Dupont, home depot, apple, goldman sachs. Phil flynn, Price Futures Group and fox business contributor watching action in oil and gold from the cme and lori rothman from the floor of the new york stock exchange. Lori, the nasdaq getting a big boost today. Nasdaq was star of the show. Japans softbank bought arm holdings, this is 32 billion deal. That chipmaker supplies to apple. So that is a pretty significant deal. Apple closed best level so far this year, 10 points, that deal to buy arm, sent shares surging up more than 40 . Gave a nice boost to many other tech names today. So basically youve got a bunch of these chipmakers as well being lifted by the news on arm holdings. 19 a share up 40. 5 . They hit new highs. Some. Names, coach, analyst at bayer upgraded to 50 a share. 43. 38 the, that could be a an interesting buying idea. Burlington coat up 8 1 2 . Boosted their guidance that gave a lift to competitor tj maxx. Dollar tree shares up 1 1 2 . Well send it back to you guys. Waiting for those earnings. Melissa there you go. Lori, thank you so much. The failed coup attempt and all of the turmo in turkey doesnt seem to have much an evect on oil today. Still settling lowers right . It sure doesnt. Ill tell you when that news broke on friday we saw Oil Prices Jump a dollar. Late on friday afternoon, right after the close. We didnt really see the full impact. Once you get through a crisis like that and doesnt impact supply it goes the other way a little more. You get a relief selloff. I think that is part of what we saw today. This is very critical area when it comes to global oil supplies. 3 of the world supply goes through the turkish straits. Any disruption would cause a spike in price. Because it failed, it was off and running. Gold, a little bit of risk premium in there. Back to you. David phil, thank you very much. July proving to be a hot month for stocks as all major indices seeing major baines although at the start of earnings season, Thomson Reuters predicting secondquarter earnings per share will decline, yes, again, 4. 7 from a year ago. Here to weigh in charles payne, steven rosilio and chris versace. Charles, first to you, we have what people are still calling a earnings recession. How do you square the two . Quite a few things. This still might end up being the sixth best Earnings Period in history and strong dollar and people talk about flight to safety and quality. Last guest with liz, was absolutely amazing. If you think this is bubble, market, led by utility. I have never seen david is that that search for yields is that what that is all about. Not just search for yield but s p utilities up 20 . That is mindboggling. Continue to invest in large Great American companies or not so great. Arm holdings, softbank paid 7 premium from the brexit low. That is uk stock that got crushed. Why . Because they believe it will be great, 10, 20, 30 years from now. David chris, lets weave in politics. People are talking about a trump rally. Could that be a factor here . I think it could be. Well learn a lot where trump will take things this week. Well see some of the policies are. Hopefully we get a little bit of unity. Doesnt sound like that might be the case as Convention Starts off. Without a doubt it will be earnings. 100 this week. Well find out whether or not the index is going to deliver 13 david hold on a second, guys. We have breaking news from netflix. Theyre out with Second Quarter results. Lori, how do they look . Reporter this is disaster. Shares down 13 . Were going through the numbers. This is the problem, netflix reporting International Streaming additions 1. 25 million when the companys own forecast was two million. Subscriber growth is all about for the company. Rocky road for shares, down 13 yeartodate. Implied volatility out of Options Market warned us of this. A lot of new competition, Companies Like hulu this is a big problem tore net nix, guys netflix. David this is the worst possible outcome for what they were hoping for . Yeah, absolutely. There really is a onetwo. Slower subscription growth and you have other Companies Like we just heard, everybody from hulu to amazon, even apple starting to come out with original content. I think it will be much more competitive environment. But longer term after everything settles out, amazon could be one of the names left standing given the content base it has. For me on pullback, might be Something Interesting long term. Melissa charles, i mean how do you miss your own estimate on that International Subscriber growth . There were people out there thought they were sandbagging on number. That number wasnt that big. They come out and supposed to beat two million, and 1. 52 . Whoa. They probably were sandbagging. That is why the stock will get hammered pretty big. And already is. This is class of its own. One of those high flying names and you throw away all the valuations networks. Weve seen this before, with chris buying on weakness. Ive seen the stock get crushed. I was in it week or so ago, next day someone upgraded, golly, i feel great now. David good for you. What im rolling the dice on is ibm which is missed every quarter for last 4,000 years. Im actually in at 150. I think that will be surprise upside. Melissa youre a wild man. Chris, when you say youre looking at it for long run. The problem with this company in the long run they add subscribers, reinvented themselves which is amazing but now making this very expensive original content which bring as a t ofeoplon brd b en wh thpricincrse, haveetfl. I dot pathatuch r it ery nth. Donsee ng tm hothey can ssibly add enougpeople to make up for how much theyre spending. Well you have to remember they had this huge push on international side. That is the growth story, right . Were fairly mature here in the u. S. All hinges on international. And the other thing they have to do is really ramping down those expenses. That is the only way they go from Something Like 24 cents in earnings this year to north of a dollar they need perfect co were probably priced to perfection. Melissa charles, he says the growth story is outside the u. S. That is absolutely true but the u. S. Customers are ones that really provide the profit. Theyre the ones that are high margin users where they get the most money out of them. Look at it, this is the fourth consecutive quarter of slowing growth here in the u. S. If they saturate that market they will have to really jack prices further. One word is china, the bottom line. You know what . China will be the difference maker. If the stock gets another big leg to the upside, for a brief window of opportunity beating everyone else to the punch in china. That will be brief. Ultimately everyone will be there and be competitive. They could get the jump there. This very high flying, very volatile stock. It is not for faint of heart. I hope everyone in it understood the risk going into the close. Melissa charles, would you get back in again . You got in, got out, got upgraded, now getting hammered. What do you think . I will let the dust settle on that a bit. Softbank deal has me more interested in internet of things. I was early into the names and didnt live up to the hype. Im watching huge premium. I love things so thed with housing. I think that is sweet spot second half year. Whirlpool im doing great and mohawk, one im looking at, mhk. Melissa chris, what do you think . I think i see where it settles out to recount my numbers to seat risk to reward is. Like charles is saying there are other companies out there. One of the best performers thus far i think it will be a fantastic performer back half of the year will be amazon. Even where it is it is still roughly a peg ratio of right around one. A lot of upside to go there. Google is looking good. Many other as they say fishes in the see. David charles, excuse me, netflix has revenue problem. They have missed revenue estimates past four quarters now it is five, five quarters in a row. Isnt this emblem mattic what is happening in country where you have high stock valuations but they keep missing on the revenue front . Revenue fronts youre right have been tough over last few years. That is the big key. Some can argue is the strong dollar. There is a reason why smuckers has been a great stock much late. Church dwight which makes arm hammer baking soda, clorox, these domesticallybased companies that benefit from strong dollar, with stronger u. S. Consumer. Contrarian argument of course is the larger multinationals are getting hurt by it. Thats a problem. Also pricing power, david. Youre right. Only right now in the last five weeks am i seeing signs of potential wage pressure to the upside. Retailers, businesses are tough to be able to raise prices. They might later on in the year. David is it, steven or chris who is available now . Melissa chris. David chris, okay, the fact is we got a trade, potential of a trade war on the horizon. We have two candidates now for president , no matter who is elected president , both have been very sour on trade. Does that affect companies . Because netflix was at a lot of hope on International Subscribers. Companies that do that, are they in trouble now because of potential trade wars . Any company that has Significant International exposure or ones that are pinning their growth on International Exposure and it is not just netflix. You could talk about under armour as well. You can watch out those companies. Circle back to charless comments, back to what is working, domestic american companies. American water works, dividend, fantastic dino. Im severalling back to those type of names. Im concerned about the earnings reports we get next couple weeks. I candidly see a major reset in earnings expectations for the back half of the year. Expectations are for 13 growth compared to the first half year. 2011 to 2015 it averaged 4. . That is, thats huge. Melissa wow. Huge. Melissa charles, thats a good point except for you were saying at top, we were prepared for this earnings season that it was going to be the worst in the history of the planet. Yeah. Melissa came in all these estimates were so low and this was really going to show and hasnt been turned out, hasnt been blockbuster but nothing like what was predicted. That is the expectations game. It began with alcoa of all companies. Melissa right. Alcoa which was down yearoveryear but nowhere near what they thought it would be. The stock subsequently ran, lot of names like u. S. Steel, up 26 in a month. That you normally dont see in old staid companies beaten down and left for dead. Expectations game play as major role. Were particularly shortterm oriented investor class. I think the second half will be better. A point made, great point, will it live up to the hype . That will be tough. A lot of people looking like at the energy names, crude 45 or 50, compared to year ago in the throes of the meltdown, maybe that makes a difference. Melissa chris, you were talking, charles was talking about how the strong dollar was making a big difference for domestic companies. What do you think about inflation . Last week Alan Greenspan was on the network saying he sees signs of it coming back. Weve been waiting for inflation to rear its head for a while now given the fact weve been printing money at this rapid pace. Do you see, do you agree with the chairman . Do you see signs anywhere or does that sound wacky to you . Sounds a little wacky to me i say that when we look at ppi, cpi, we havent really got any major moves and when you strip out energy which the fed always does when you look at inflation, weve seen pronounced move in oil prices. Melissa hold that thought. Well come back to it. Ibm reporting Second Quarter results. We go to lori rothman. Lori . Not as exciting at netflix. Ibm, shares up a little bit. Down a little bit here looks like in the extended session. Coming in ahead of expectations in terms of earnings. Looks like revenue was a little ahead. Ibm has been in the transition. Theyre trying to offset losses from their core computer business and focusing on Artificial Intelligence data, cloud, security services. There it is clicking up a little bit here in extended hours. Not a terrible report. Pretty much in line. Melissa way to go, charles, get your reaction because you mentioned earlier you wanted to see what ibm is going to do. So far so good. Heres the thing. I think ceo is in the hot seat. She should be making even more aggressive deals than she is making. They made a lot of acquisitions here. But should be selling off those nonperforming assets. Street is starting to give them didnt if doubt and i hope she takes the ball and runs with it. Melissa tremendous panel. Thank you, david. David we havent heard details from yahoo . Well get to it when we get them. The Republican Convention is underway. The gavel came down. What is the scene like inside. What can we expect from the big lineup of speakers . Lou dobbs, host of lou dobbs tonight joins us live from cleveland. Melissa action heating up outside of the Convention Center as well. Were monitoring the growing number of protesters, both for and against donald trump. Theyre all out there. David as we get closer to the official nomination of trump for president , there is still, still some lingering concern whether he can unite the party. Well put it to our panel. The party is united. And its a few people who are holding out and they dont reflect anything other than their own personal opinions. [hip hop beat] olympics 2016, let me get you on my level. So you never miss a moment, miss a minute, miss a medal. Why settle when you can have it all . Soccer to wrestling. Track and field to basketball. Fencing to cycling. Diving to balance beam. All you have to sa is, show me, and boom its on the screen from the bottom of the mat, to the couch where you at . Show me the latest medal count xfinitys where its at. Welcome to it all. Comcast nbcuniversal is proud to bring you coverage of the rio olympic games. Melissa netflix shares sinking afterhours following release of companys Second Quarter results. U. S. And International Subscription additions fell short of wall street expectations. The company added 1. 52 million subscribers in its international markets. Analysts were expecting about 2. 1 million. Big miss there. David big disappointment, yeah. The Republican Convention is underway. Thousands gathering in cleveland what has been described as unconventional fourday convention. Day one kicking off with the theme, make america safe again. Focusing on gops commitment to protect the u. S. There is no shortage of speakers tonights primetime lineup including Donald Trumps wife melania, retired arm lt. General michael flynn. Senator joni ernst, tom cotton, arkansas senator and alabama senator Jeff Sessions and former new york city mayor rudy giuliani. We have lou dobbs, host of lou dobbs on fox business. A lot of people instinctively think about internationally, making it safe from terrorism and isis but then we have horrific shootings of Police Officers last week and on sunday. Will the focus be on that, more on whats happening domestically on our own streets . As you say, david, most people think of when keeping america safe to be referring to foreign policy, our military, defending the homeland. When in fact were being racked now with a, just a tremendous number of attack against Law Enforcement and importantly we are also at the same time seeing president of the United States himself not supporting Law Enforcement in the way most citizens would want him to do. In fact in the minds of many, he is leading many of the rhetorical attacks against Law Enforcement and in convention tonight will be focusing on precisely this president , his policies, and those including the former secretary of state in the Obama Administration who have brought us to the place in history in which we find ourselves. David yeah. Bringing it to the economy, lou, nothing affects an economy of a city or a neighborhood like safety. The issue of daytoday safety. Making sure the cops are there to keep you safe. If cops are being targeted relentlessly way they have been over past year or so, this could really lead to downward spiral of some major metropolitan centers like new york. I think thats correct and today we saw the acquittal of the Police Lieutenant in baltimore who was the senior officer in those trials brought by the state prosecutor. Again an acquittal. Four cases, absolute acquittal or hung jury. Were watching now, in major metropolitan cities all across the count a real attack on Law Enforcement. It has to be turned around. As youre suggesting there is premium in our markets. There is a premium in this economy for stability, for security and for safety. And we need to see mayors standing up for their police departments. We need to see governors doing so for their state patrol. And their state troopers. It, we have to have a president who is going to stand up for the idea of law and order. It is critical to all of our l