Transcript for Germany Inches Closer to a Euro Rescue
Dow futures were up this morning after that big loss yesterday. Here to discuss all the breaking business headlines at this hour is -- -- and from Bloomberg TV happy hump day to you -- -- -- see him hey Stephanie all that aren't -- we've got to be awake now although I think I definitely that was a shocking color ads and shocking news actually that's coming out of Europe these days so let's start with -- -- debt crisis including. News out of Germany's Parliament this morning what are the details. Yelled vicious -- a few minutes -- the lower house of parliament by a large majority. Is -- backing and this idea that the rescue fund in Europe should it be increase -- that means Angela Merkel today heads to Brussels. What a bit of a mandate that Germany is supporting. On helping to do more for the countries as -- -- we're -- -- therefore assume for the banks as well in the region now we do have the meeting going on today. Finance ministers were supposed to be meeting about the European prices -- meeting was canceled but you've got the heads of the countries now meeting. So you had that meeting kind of level bumped up a notch -- Angela Merkel. I've really making some impassioned remarks earlier today when -- is trying to persuade this vote on she said we can't let the Euro -- she said. You know we've had a half century of peace in Europe that cannot be necessarily. -- guaranteed so really making a very in hash and be here. And of course were all waiting for. In terms of the extent of help there that's going to be offered to countries especially -- Yeah and so critical for the entire global economy at this point so all eyes still on Europe -- some breaking news here. In the US as well -- former director for Goldman Sachs has surrendered now to the FBI on charges of insider trading tells -- about the case. And whether this is gonna affect Goldman's reputation. So this is -- wrist shot -- -- and the case parents to do with Galley on -- Roger rotten and that's been going on. For years in the US Raj Raj -- and if you were called recently. Where is convicted and sentenced to eleven years in jail -- -- to -- with insider trading. Conspiracy charges group had an administrative action brought against him by the SEC. And He said look if you really -- an -- it may bring on federal charges -- that's exactly. What is happening today not only was He director at Goldman Sachs. He was also on the board of directors -- Procter & Gamble for many years He ran McKenzie -- talking here about the highest levels. In corporate America in terms of any danger Goldman Sachs certainly. This was something the firm did not need because it came in the midst. You know I should say in the heels of the financial crisis the CEO Goldman lot Lloyd Blankfein He had to testify during the -- Roger -- trial. And what He said at that time is that good to have violated policies by allegedly passing on information on the company's results. As well as potential plans for example whether Berkshire Hathaway. Was going to be investing in the company or whether it was going to be making any kind of acquisition so. It's not a good day for Goldman because it runs being reminded here. That connection but a lot of the news or that connection had been out there even though the charges. Didn't come formally until today right still shocking to see how high and mighty have fallen -- -- -- But let's turn to some good news out of -- -- they came out with their quarterly report on earnings this morning and it was impressive. Yeah out well ahead of expectations second highest profit level ever. Also -- I was reading through the report one thing that jumped out at me was the company paying down some more of its -- Right or did not go through bankruptcy as to GM and Chrysler what it's interesting note is that the key. Is taking a hit on some of its commodity hedges because it -- and -- there. Trying to protect itself because of that surging commodity prices we know some of those prices have come down the past few months. That means those hedges -- -- taken a bit of it they hit there and Fortis and that's in the it's gonna wait a bit on its profitability. Going forward but in terms of car sales -- kind of the general tone of the report. I -- honestly rather positive -- the stock is treating a little bit down this morning sent mixed there are right. This is interesting Alan Amazon's stock is plummeting after the company reported a drop in profits. And this is tied to its battle with apple. Yes so a few things going on here let me give you kind of one of the headline shocking numbers -- why the stock is plunging. Net income down 73%. Compared to a year ago -- last night after -- came out the stock tumbled 19% when it took a look this morning it was down only 11% actually last night when it was at that kind of -- declined. Twenty billion dollars in market value had been wiped out from the stock but here's what's going on. Amazon's investing a lot of money it on developing products also building more distribution center so you know the analysts who look at those who -- positive on the companies say. It's really investing for their future the question is will these -- -- -- so for example. It recently unveiled that. The they Kendall fire it's a 199 box it's a tablet computer. Substantially less than the I had so here really -- could say Amazon playing with fire because it's taken a loss on these tablets. Trying to get people to -- them and not the iPad but it's placing the bet that down the road people are gonna need to stop this thing with content that they're gonna download. From Amazon the other thing that's hurting them is -- That prime membership 79 bucks for unlimited two day shipping for a year -- -- a lot of content you can download as well. For freer included in that -- nine a year or so it took in last. From these fees than -- spending actually shipping out stopped. Because you know is -- a -- leader or not that's another one of the questions of the stock taken a hit for -- -- -- today people are concerned you know is this really an investment for growth or not -- and uncertainties there are speaking of which Netflix seems to be in sort of a freefall. These days is there anything the company -- do at this point to stop the bleeding. Yet down 35%. Again yesterday in terms of the stock price. Back in mid July when it hit a key it was almost 300 dollars a share yesterday it closed at 77. And investors willing not sure what consumers are gonna do because the company has -- it's gonna keep losing subscribers. And folks really -- -- see you know what is the -- got a lot more competition Amazon there you know case in point because you can go stream. Videos or rent videos on Amazon on iTunes you don't necessarily need -- -- It had that confusing thing -- raise prices and then -- that it was gonna split the streaming in the dvd business took that decision back. So real Paper for analyst for investors a lot of question marks because folks don't know exactly what that strategy is going to be. Aren't you over of them I'm genuinely interested about this group on IP. -- and then had a group on person I am groupon person but now there's so many of these similar offerings out there. That I understand it's pretty hard to value that this I PL and you guys -- Bloomberg -- -- -- this new information on Nat Sobel. So what are the details yeah we -- bunch of people on and based on what. We're hearing that groupon is currently looking at valuing itself that when it does -- IPO on it would put it at. Five times the sales and that's obviously different ways you can measure companies you know price to earnings price to book -- various ways or based on this price to sales. That means groupon is valuing itself more -- Amazon. Com or Microsoft sell out we're hearing that. You know potentially even though we think the IPO is not going to be as big as was expected many months back when there wasn't as much of the competition is you're talking about her -- in house in this fatigue. From all these group coupons. You know still think again it's look at internally like it's looking for a pretty rich valuation and you're saying OK anything else you're watching today -- Yeah let's take a -- -- the stock market we've got the Dow up 1% we've got the S&P up eight tenths of a percent the NASDAQ also up eight tenths of a percent so. It's really these headlines. Out of your but I think you're gonna talk about Boeing later but Boeing did real well so that's something that's helping -- -- -- in the Dow today for the stock market at the Dow up more than a percentage point right now I'm -- from Bloomberg TV thanks -- -- -- season.
This transcript has been automatically generated and may not be 100% accurate.