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Squawking Murdoch media moves & Delivering Alpha

Talking Squawk, the official "Squawk Box" blog, provides tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME from the notepad of the show's senior executive producer.

Rejected!

In case you have been living under a rock, our Andrew Ross Sorkin broke one of those stories that literally stopped everyone (on Wall Street) in their tracks. The future of Time Warner is now in play after it rejected Rupert Murdoch's $80 billion. Wow!

Delivering Alpha

David A. Grogan | CNBC

This year's CNBC and Institutional Investor "Delivering Alpha" conference was another home run (not to mention it came on Wednesday, the day Andrew broke that huge Time Warner/21st Century Fox story).

The buzz was from Treasury Secretary Jack Lew to Leon Cooperman's bright ideas to Stanley Druckenmiller to Bill Ackman and Carl Icahn taking the stage together for the finale (and hugging it out)! Here are highlights from our portion of the conference starting with Jim Cramer and Treasury Secretary Lew on corporate tax reform and cybersecurity for corporations. Here's Joe Kernen's interview with Druckenmiller.

We're the 'real economy'

John Stumpf is chairman and CEO of Wells Fargo—one of the largest banks and lenders in the country. He also has a side gig as a regular Squawk guest host. So when John says we're in for an "economic surprise" we took notice.


He's back!

Paul McCulley cut his hair, got a shave and a new job at his old firm. He's back at Pimco as chief economist.

He came on Squawk this week as a guest host with a very specific message: The inflation concerns about rising wages as the labor market and the economy continue to recover are unfounded.

McCulley also talked a bit about how his friend, Pimco founder Bill Gross, is doing with all the media attention this year after the surprise departure of CEO Mohamed El-Erian.

Squawk Flop

Starved for sports content, Joe actually started to embrace the whole World Cup "soccer thing." And while he admitted that the tension and drama of the games were amazing, he still hasn't got his head around the whole "soccer flop" thing—the way highly paid, world-class professionals throw themselves on the ground at the slightest touch and act like they got shot, only to be back in the game just moments later.


Container Store Joe

While our Becky Quick and Andrew were away last week, Joe was forced to sit through a story on The Container Store. Only problem was, Joe had no idea what The Container Store was and had never seen or been to one. So to help educate Joe in the fine arts of storing stuff, the crack Squawk production team took Joe shopping.

'Squawkward Moment'

This week's "Squawkward Moment" comes courtesy of Andrew, who got into quite an on-air tiff with a Princeton physicist over climate change. Any "shut ups" on the air automatically gets defined as awkward and make the blog!


Earnings on tap

  • Monday: BB&T, Halliburton, Hasbro, Netflix, Six Flags, Suntrust, Texas Instruments, Zions Bancorp
  • Tuesday: Apple, Coca Cola, Comcast, DuPont, Gannett, Harley Davidson, Ingersoll Rand, Kimberly Clark, Lockheed Martin, Microsoft, Verizon, Xilinix
  • Wednesday: AT&T, Biogen, Boeing, Delta, Dow Chemical, Facebook, Gilead Sciences, GlaxoSmithKline, Norfolk Southern, Northrop Grumman, Owens Corning, PepsiCo, Qualcomm, Tupperware
  • Thursday: 3M, Altera, BASF, Boston Scientific, Callaway Golf, DR Horton, Quest Diagnostics, Raytheon, RF Micro, Starbucks, Starwood Hotels, T Rowe Price, Visa,
  • Friday: Lear, Moody's, Stanley B&D, Tyco Intl, Vodafone, Xerox

Overheard on the set from Delivering Alpha

Anchor No. 1: "I'm hot."

Anchor No. 2: "I'm taking my jacket off."

Anchor No. 3: "Mac [our stage manager], Where's the air conditioner?!"

Anchor No. 1: "Who's to blame here?"

Anchor No. 2: "What's the deal? I'm sweating!"

Anchor No. 3: "It's the damn lighting."

Anchor No. 1: "This blows."

Mac: "Coming Back 3, 2, 1 …"

Anchor No. 1: "Welcome back to 'Squawk Box' live from the Delivering Alpha conference at the Beautiful Pierre Hotel in New York City."

Anchor No. 3: "What a great place, is this amazing or what?"

Word Jumble

Becky was off on Monday and everybody was at Delivering Alpha Wednesday, so the Word Jumble grudge match was only played twice this week, with Becky and Joe knotted at one win apiece. Joe's bonus Jumbled word of the week is NBOECU. Becky's bonus jumbled is ITESCH. Find the Answers at the end of the blog.

Hair Nation

"Joe Goolsbee" was in the house Thursday—courtesy of show director @PaulDeFabo and our technical director @Keith_Falcone.


Mark your calendar (or set your DVR)

  • Monday: Mohamed El-Erian
  • Tuesday: Arthur Brooks (AEI President)
  • Wednesday: Carly Fiorina (Ex-HP CEO)
  • Thursday: Greg Fleming (Morgan Stanley) and Richard LeFrak (The LeFrak Organization.)
  • Friday: Charles Kantor (Neuberger Berman)

Next week's economic calendar

  • Monday: Chicago Fed Index
  • Tuesday: CPI and Existing Home Sales
  • Wednesday: MBA Purchase Applications
  • Thursday: Jobless Claims and New Home Sales
  • Friday: Durable Goods Orders

The Corny-Sappy Motivational Business-Based Inspirational Quote

"The best measure of a man's honesty isn't his income tax return. It's the zero adjust on his bathroom scale."
—Arthur C. Clarke, the British science fiction writer

*Joe's Jumble bonus word answer: NBOECU = BOUNCE
*Becky's Jumble bonus word answer: ITESCH = ETHICS

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