. >> it's something that in silicon valley it's happened before oracle hp at times had that it's an interesting set-up in lieu of becoming executive chairman interesting too with twitter link and - >> maybe they'll buy it again or try to. >> maybe that's one way out. the terms of the stock response of salesforce to me about how tightly stretched it was looking at the free cash flow that's one to way to look at the valuation. as low as it's been in the history. >> only point going from the question markings of a founder led leadership to the busy people chairman of twitter is a big job when you have a new ceo and promoted co-coo at the executive job. it is kind of quite interesting that that's how it played out there. >> it is twitter had half a ceo before this. >> an improvement. >> but also you have to wonder if it's a change of the duh the is or a change of title. >> president and coo and running a lot of -- benioff has the hand in everything and very involved in the other project just the stock down 7% on the guidance miss we have box earnings also out? deirdre? >> smars up as much as 5% in

valley bank or svb financial, the parent, down nearly 4%. comerica, down 2%. the spiders of spdr regional bank down 2.5% watch those for financial rates. as for what is working and what is not, a lot of things are not working. not covid related. united airlines and norwegian cruise line, both reopening trades, both down big. meanwhile the ones that are supposed to do okay, the stay-at-home ones for fears of covid, peloton and zoom video down both. zoom video off 4%. maybe rising interest rates playing into the growth story and knocking expectations down apple standing out, up 2%. technology seems to be the place, at least with apple's side of things that people are flooding into in times of uncertainty. a tough spot for the fed back to you. >> thank you >>> let's get to the comments made on capitol hill that spooked the markets. steve liesman is here with what sparked the sell-off we had the embargo testimony yesterday afternoon, we thought it was going to be hawkish but it got even more hawkish today >> you're right, melissa fed chair powel

silicon valley names so perhaps already a high level we have an event where people are pulling money out of markets then those technology names could be under pressure as well. it will be a complex market we'll watch later on today a quick look at the european markets today. we are traveling south a lot of movement. the cac was down 4% in france, trimming at the 3.7% we are still proving more resilient than the first knee verdict trade. where we fell on the ftse and we picked up action, traveling close to the 7100 market it has relationshiped up the trade for november it was a strong trading period for this month for european markets. a lot of catch up mode, optimism about the profitability, super size demand story for some of the corporations even though they're dealing with inflation and supply chain bottlenecks this week is different, fresh covid concerns about the situation in europe and now this story out of the southern african region travel and leisure has been hard hit. it is trimming some of the initial positions, iag was down 20% at the first trade you can see we're down ha

valley and said we will build software programs for the u.s. government they said why would you build for the government in they are hard too work with, and data is useless. no one will believe the product war. something fully align with your clients is not smart you should turn your clients and the u.s. government said build your product in the way we want, powerpoint developed by someone who was not technical for something necessary in the '70s. we didn't do that we built a number of products now on the market and winning in the market to do that we've hired the best and most interesting eclectic people in the world. they work at palantier for lots of reasons we continue, we will continue to develop these products and continue to comp people and we are very, very focused on being fully aligned with our clients and actually aligned with people who own our stock. what does that mean in the real world? it means that we will continue to be very focus on delivering value. we will continue to comp people. i don't believe we are deluding people into

valley, robots don't get tired. they don't drink they are a steady hand it seems like in some ways they do a better job. >> i think today we see it as an evolution. we've always been part of trying to provide -- enable our frontline employees to be more efficient, drive greater productivity, starting off by providing a mobile computer or scanner. but today with a mobile robot, you can now offload a lot of the walking time that they have. if you look at somebody who works in the warehouse, they routinely would walk six to eight miles a day. and with robots, they can walk much less. so it takes away a lot of this. >> that's the kind of waste that's eliminated. that's great. >> this is much more efficient you still need a worker to do certain tasks. >> now, when we first started talking about health care, it was something you wanted to dig in. >> yep. >> but now you're a dominant force. how did that happen? >> we were very early getting into health care in our space. the catalyst for this was around the medical health

valley funding from major players before she was 24 years old. now things get harder. she and her attorney have to make sure they don't open too many doors for cross-examine look at this one, for example, when she's questioned about a 2014 "fortune" afrticle >> were you aware this article was included in the binders and materials that they are athought sent to other investors? >> i don't know. >> did you ever ask for this article to be included in investor binder? >> not that i can remember i don't know >> there is a fascinating bit of clock management, there's only two days of court this week, so what will the jurors be left with po to ponder? confident holmes or elizabeth holmes on the defensive? we will see. guys >> so just to play this out, that's just, you think -- not the prosecution, rather, but the defense will try to keep her and hold on to her until wednesday, and then have the defense work this next monday is that the idea >> reporter: well, that's a possible it depends they have this sort of parallel battle here of the defense doesn't

three rounds of silicon valley funding for her idea before she was 24 years old. under friendly questioning from her defense attorney, one of her against attorneys, kevin downey, she talked about the early days of theranos. how she dropped out of stanford at 19 years old after doing some research on microfluidics which became the basis for her invention. initially she thought of a pill people could swallow that would send out data in realtime over how somebody was doing healthwise then it turned into a patch. ultimately after dealing with pharmaceutical companies and talking and doing more research, the idea of this microblood testing device, which ultimately did not work again, by the time she was 24 years old, she had contracts with big pharmaceutical companies. pfizer, glaxosmithkline, bristol-myers squibb all of this now on display for the jury as they get a sense of the elizabeth holmes that dazzled wall street, dazzled investors and dazzled silicon valley a lot more to come next week, including potentially some pretty rough cross examination. >> scott cohn l

that's why we come out to silicon valley every year. they are possessed by the future, they don't want to be trapped in the past. it's good for business and has the added advantage of being good for the planet. on a day where the dow lost 269 points, the tech heavy nasdaq jumped 0.4%. it's easy to see the power of the future that's how you pick the right stocks i'm always helping you try to make money by any legal means necessary, whether i'm teaching you directly, being taught myself or teaching you in the investment club. but you're going to see real teaching when you see our visit to nvidia's headquarters earlier today. wow. mind blowing now, if you have a sense, a good sense of thefuture, it's easy to identify possible winners but there are all sorts of time frames for the future. when you see the nvidia tour, you'll get a vision of the distant future now, though, we need to deal with the closest future, which brings me to our game plan for next week. you know that most of today's downbeat action was caused by one more dollop of cov

many silicone valley stocks trade at lofty levels because they have few rivals as competition wreaks havoc across a host of industries, it's important that you don't get complacent social media companies were hit hard by apple's privacy rules. how is twitter doing in that world. don't miss my exclusive, and the miracle corner on 34th street. shares of macy's rally 20% i have to tell you something i see much more ahead. my sit down with the company's top brass: you don't want to miss it. stay with cramer don't miss a second of "mad money," follow @jimcramer on twitter. have a question, tweet cramer #mad tweets. e-mail madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something, head to madmoney.cnbc.com. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. small businesses like yours make gift-giving possible. whose resumes on indeed now, comcast business has an excl

they want to make a difference, and right now, silicon valley is where you get that chance. the better they do it, the better they feel, and more important for the home gamer, the more money they make for you. so the bottomline, sometimes you accept that having a purpose can also mean having a stock price that is higher provided the company in question is on a mission to make lots of money. and it's based where we are all week, the heart of silicon valley in california let's go to chuck in florida chuck. >> caller: hey, jim. >> chuck >> caller: i just wanted to ask you a question, first of all, we're the same age, and my favorite show growing up was "wall street week. >> friday night, 8:30. loved him. >> caller: and my favorite guest was john templeton and that story how he bought every stock on the new york stock exchange that was $1 or less at the end of the depression. it was a great story >> great memories of that show let's make some money together what's going on? >> caller: i wanted to ask you about this amd merger. i listened to the amd conference call and lisa sue s

valley >> he speaks the truth i've seen one technician last week or so say the ndxs unwillingness or inability to buckle in a rising rate narrative has to be respected. and they took off their cautionary call. i wonder if that's how you see things developing right now. >> so, carl, i do think that we have to remember that tech intrinsically is actually deflationary in its nature you have this effect where cost structure is declined with scale and get more impact results from them so when you look at software names in particular, you find that the compute are naturally riding this declining cost curve. you can combine that with real estate rates and the lack of physical inputs that other supply chain issues are facing manufacturing industries right now that are driving costs up. and i absolutely would argue that software costs are somewhat immune from the inflationary dynamics on the flip side, on the revenue side, you have high vendor lock in and pricing power that suggests you can run pricing up in a forward inflationary environment, if you choose to, which would actually be net mar

cramer finds out how the silicon valley stall wart plans to crack that next. wart plans to crack that next. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> all right. what's it going to take to turn intel around and has it started to turn already? they have been struggling for years. but when the ceo took overnine months ago, he came out with all sorts of plans to stage a comeback they still have some execution issues but more importantly find out how much these projects will cost i'm not talking about 25, 28 in capital expenditures wall street cut the shock. it didn't help intel gave down projections for sales, gross margin and earnings and in response, the stock rolled over. i agree with pat about the need to spend the money i do worry it won't be enough and they're running out of time to keep up with a and d. since we're out here on the west coast, we've got to talk to pat hi

everyone is investing in hardware but some approaches don't work if you think about silicon valley, the silicon days, people investing in other forms of technology in hardware and even some types of semiconductors that didn't end up working lost, but that is the venture model. the other thing on m&a, there is probably a musical chairs situation about to play out in terms of m&a there is only five or six companies out there that are not google or ibm. i will find this interest. a reporter that covers google and alphabet, they have done a lot in quantum and they are the most quiet and secretive in the space. others, ibm is outputting out different releases there are strategies in terms of signaling to other competitors what they are doing. >> eamon, i get a lot of inbound investor questions about quarantine, quantum. here is my take on it so far there is a different tweens research and development research, longer oit, really hard to tell when it's going to be a viable product, when it's going to scale into platforms and to kind of public market investable stuff so i think the caution her

some students see the course as a prerequisite for high-paying jobs in silicone valley. here's cnbc's kate rooney. >> i think as long as we put it together -- >> reporter: learning about blockchain is about a lot more that finding the next big cryptocurrency, at least for some students. >> when you get into crypto more, you kind of realize that a lot of what you learn in school is kind of useless >> reporter: he says it's the key to unlocking his dream job in tech. the college junior co-runs the blockchain club at cal berkeley. he and some of his classmates describe it as the next wave of the internet, which some talk about as web 3.0, especially as facebook changes its name to meta and hypes up blockchain as part of that future. >> a lot of new companies like facebook just used meta so if the biggest companies in the world are transitioning over to blockchain, it kind of feels you are being left behind unless you move with that >> reporter: berkeley is one of a handful of top universities now offering courses on blockchain competing with harvard, stanford, m.i.t., corne

here in silicon valley, we have lucid. it just won the motor trend car of the year award. it's not even out. it could be just in your brain we're going to see tomorrow who doesn't want to be the next tesla? who doesn't want to own the stock of the next tesla? that is the real driver here fourth, how did financial technology become a west coast obse obsession? it's a great thing the east coast does financial innovation we develop securities. on the west coast, they're more into engineering than financial engineering. you want a tech one banking, you need to talk to people who run square and you need to speak to max glevchin from affirm he's trying to cut the credit card companies out of the consumer lending because you know what? they're now getting generations trapped into their financial chains another concept. another reason to come out here. when i got out of school in the early '80s, my goal was sim pat particular could he with wall street i wanted to make as much money as was legal without breaking the law. if you had a cause, you could take your profits and donate th

valley story over and over again. we are seeing it right now don't underestimate the impact these people are going to have on the normal car market it is really hard for incumbents to -- like the ford f-150 lightning, it is going to be hard for ford to go after rivian it may sound strange to you but they have legacy to deal with. >> sure. >> you go to the dealer, should you buy a gas 150 or electric 150? it makes it challenging for ford to push its scale on the market whereas rivian has a really clear direction and they're doing direct selling like tesla. >> i totally - >> i think you are going to see evs win over the legacy car over the long run >> i agree with you 100% on that i mean obviously the legacy automakers will catch up because that will be the market. they have no choice in that sense. but when you look at the production that tesla is operating at and the amount of time it has taken them to get there, the manufacturing nightmares, still bringing austin and berlin online right now. the issue with evs is not

it's teaming with silicone valley start up called gaddack to relay online grocery orders the truck traveling in a 7 mile loop from fulfillment centers from bentonville arkansasto a nearby store. >>> and the stock trading platform robinhood suffering a data breach. the company reports it happened last wednesday robinhood reports the e-mails of about 5 million customers were compromised but that no social security numbers or financial information was taken. >>> on wall street, all of these at record high closes. the dow up 104 s&p up 4 the nasdaq up 11 >>> i'm shepard smith on cnbc. it's the bottom of the hour, time for the top of the news >> one bill down, another to go. can congress passes rest of president biden's economic agenda >>> prices soaring, services lacking. welcome to skip flation in america. but first, at long last, the u.s. reopens to the vaccinated world. >> it's a monumental day for america's covid recovery the united states welcoming in international travelers for the first time in nearly 20 months vaccinated tourists are rushing to border check points across the country. thi

valley that outsiders rarely get to see. just how reckless investing in startups can be. one investor testifying that he asked the company for audited financial statements theranos never gave him any, but he still invested $6 million anyway another said his firm invested $5 million, even though it didn't understand at all how the theranos' technology worked. maybe because it didn't. the investors say they believed the data provided but they were often given false information. it also came down to holmes' charisma he was touted as a visionary, like steve jobs, who created a sense that investing in theranos would be exclusive and elite cnbc recently got our hands on taped depositions that could offer clues as to how she might testify if she takes the stand here's cnbc's yasmin corum. >> she was the world's youngest self-made female billionaire who was never at a loss for words. as you'll see in this nearly four-hour deposition obtained by cnbc, it was a much different elizabeth holmes who hardly said anything the date, june 27

valley, as goes silicon valley, probably where united will go. american airlines is starting to look and feel like a discounter. so i'm not sure how that's going to work out. i think delta is the better play of the three in the hotel space i think the hotels broadly have a lot of room to run now as business travel resumes. >> to your point on delta, that's obviously business travel play i want you to come to us from an airport. we can get your take and see what's going on behind you bob, turn to you if you want to put a point on it. looking across the travel space, we have seen big runs in these sectors. >> yeah. i would be a little cautious getting exuberant on things like international travel i was talking to travel agents this week about the caribbean over the holidays. we were looking at that. there's a lot of barriers up to getting to these places, negative tests going in, while there, while leaving, a lot of people are not full on the caribbean. lot of people are saying i'm not sure it is worth the hassle. still having significant outbreaks

big data to help solve the problems faster and sense in the heart of silicon valley she realized there was a potential business and took the pandemic to show the world how big health tech could be. >> there was a lot of interest but not a lot of uptake and when covid hit suddenly the entire medical infrastructure on the research side needed a technology to execute clinical trials so within a week we got calls from all over the world saying could we use your telemedicine and use vital signs? everything shoifted from 5% of the industry to north of 60%, 70%. >> it is entrepreneurs like this that remind me how big the transformation is that's happening in data and cloud. industries not getting the full benefit of measurement and artificial intelligence. think about the clinical trial groups not relying on those close to a hospital. >> my understanding is there's a way to speed up sort of fda approval of drugs and maybe related to the clinical trials. >> she said that the process for getting a drug approved takes about 12 years and that's the enrollment and speed that up by a factor of thre

is announcing a new round of funding that's backed by big names spanning from wall street media to silicon valley. >>> plus a new cnbc documentary will dig into the meme stock phenomenon of amc and its self-proclaimed apes here's some of them to explain why they are so invested in the company. >> i'm hoping that i will be able to pay off my debts i have a lot of student debt. >> even if it's not the big, big numbers, i hope we all make a sizeable profit and also make a sizeable statement >> it will go to the moon. even if it doesn't, it's been a wonderful ride. >> i've got amc for generational wealth i want my kids kids kids tbeo financially stable. >> why am i an ape i'm an ape because [ bleep ] them, that's why (loud drumming) drums! drums! aaaaaahhhh! at least geico makes bundling our home and car insurance easy. we save a lot. aaaaaahhhh! ohhh! (loud drumming) animal! aaaaaahhhh! for bundling made easy, go to geico.com. uh-oh... your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality