i think on top of that ibm software, cloud packs. all the world done by ibm consulting and if they need other applications from some of our partners like salesforce or adobe, they'll bring those in as well really ibm consulting becomes the lead in establishing the top leadership and the business transformation with our clients together with all the technology skills they need to do the work. you talk about your hyper scale partnerships with microsoft and amazon candidly the old ibm would not mention those two companies. they are your partners you work together. >> you brought together services, all kinds of technologies that our clients needed, hardware, software, in other cases business consulting partners like ey as we mentioned here you have to recognize microsoft and ibm are going to be there. let's add value to them as they bring value to us. >> when i think about the hybrid cloud opportunity, to me it is your largest and i was always hoping that red hat would not be a bolt on i was hoping it would be the gateway. i think if you

tonight we are all over the after hours action tesla down calls for ibm and lvs kicks off. we will bring you the big headlines from those quarters. plus craftin

how do you feel about ibm? >> very strong words the most interesting thing about ibm to me is that it's actually not cheap. financial engineering or not if you look through history, as expensive as it's been since 2008 they have lost market share across all segments. it's been a tough business shockingly to me, the valuation is not more attractive just given how the stock's performed recently it's still a tough story overall. >>> coming up, a killer weekend for amc. how options players are playing this one as they slade the box office this weekend. we are back right after this [uplifting music playing] ♪ i had a dream that someday ♪ ♪ i would just fly, fly away ♪ paola needs a parachute. so, salesforce customer 360 unites your marketing, sales, commerce, service, and it teams around her. so they can deliver a great experience from anywhere. ♪ (whistle) ♪ age before beauty? why not both? visibly diminish wrinkled skin in... crepe corrector lotion... only from gold bond. a strong weekend surge thanks

, tracking shares going lower after hours. >> ibm drops on revenue. he said he is focusing the business on hybrid cloud and ai, but they continue to be dogged by the same question for years can they actually turn the shift. despite the talk of next generation, missed revenue expectations, and it continues to disappoint investors and underperforms the broader market and there is decelerating sequential growth. systems revenue i want to point out because that includes hardware it was down 12% amid the pandemic there was no guidance we are getting ready for a spinoff on november 3, but there is skepticism that ibm can turn the ship >> she will be on the call thank you. >>> if you look at the cloud business, up 2 1/2%. tim, can you make the case for ibm after all of the quarters of disappointment >> they are not going to grow revenue for five years forget the risk that may be around their accounting and what's truly going on there. they have to make acquisitions for investors there is no free cash flow coming back to you for a company not growing the top

ibm reports results wednesday. chanos doesn't trust its numbers. >> ibm is supposed to earn almost $11 this year for the trailing 12 months they've earned less than $9. but the really fascinating thing from our perspective, if you look at ibm's operating earnings and add their ip royalty stream and tax it at a normal 21%, the actual earnings are $6 so you have this almost $5 spread between what ibm is really earning and what they claim they hope to earn on a quote, unquote, adjusted basis this year. this is just more financial engineering that this company is doing. >> again, that's jim chanos talking about ibm. now, we can't talk chanos and shorting stocks without mentioning his infamous bet against tesla. the firm still has a small position, he said about 1% of the holdings he said, quote, we are still batting our heads against the brick wall tesla up 3% today, now up 23% this year and they report results on wednesday as well a big day shaping up for jim chanos on that front >>> coming up, the latest details from

you have a much larger short position as i understand it in ibm. is that correct? >> actually, we do, and they report on wednesday afternoon, same time as tesla what is so fascinating about ibm to us is that it is a good example when i teach my class here at wisconsin today about the idea of sometimes the greatest scams are hiding in plain site through pro forma accounting what i want to point out to your listeners is ibm is supposed to earn $11 this year. for the trailing 12 months they earned less than $9. the fascinating thing from our perspectives, if you look at ibm's operating earnings and add their ip royalty stream and tax it at a normal 21%, the actual earnings are $6. so you have this almost $5 spread between what ibm is really earning and what they claim they hope to earn on a, quote, unquote, adjusted basis this year. it is more financial engineering this company is doing, including the latest spin-off in which they claim their growth is going to go from 2% to mid single digits, and yet buried in the fine print is the disclosure that three points of tha

farmer jim, no ibm for you you love old tech. qualcomm, was there intel, man, this is right up your alley. you love particular money. [ laughter ] >> all right all right. you all right. hold off on the brick bats i've been in ibm. >> how did it go >> it hasn't been a very fun time and there's this concept of behavioral finance and yiet tilt of wealth and i am happy if my friends steph and pete and jim make money the irritation that i am going feel by losing money a fourth time on this stock is too great compared to the upside positive emotion i will feel if i make money. that's the outility of wealth an i hope everybody makes money and i will clap from the sidelines thank you, jim >> pete has unusual activity and plus it's hispanic heritage month and we are spotlighting cnbc contributors and business leaders and our own on-air anchors and reporters and here is cnbc reporter bertha coombs >> my latino heritage is wrapped up in being a cuban immigrant. we moved to the u.s. when i was 4. my dad felt that we just couldn't make a life

this is ibm. they don't partner with anybody. >> you're getting positive on ibm? are you sure you want to do that >> yes yes. i think marvin has turned it around. >> they still have a lot of debt, don't they >> a lot of that debt is related to -- >> not that that's a necessarily bad thing. >> i was concerned about the deposition they're off-loading some of the slower stuff >> that is going to be separated, right >> you have to go over what the -- you went over the presentations, right, yesterday? >> no, i didn't. >> oh. >> i'm just basing this on history. >> oh. you're kind of winging it? >> yes, i am i'll admit that on this one. i don't typically do that. >> i have the misfortune of doing the homework and it told me that mid single digit growth, 35 billion in cash flow, decision to be much more a systems integrator, hire multiple business. i like this situation. >> so you're going to punt facebook and replace it with ibm? >> probably. >> where are you on pepsi, then? by the way, 9% organic, seeing numbers that we've never saw from this category before. >> we have

years behind the starbucks counter in the ibm lobby. when did it occur to you that you could actually work at ibm? >> so, that's when my friend dave comes in. >> reporter: software engineer dave green, who was a regular customer. >> it happened one day when he asked me, how do i go upstairs and do what you're doing? i'm like, well, you just got to learn how to talk to computers. and he asked me, can you teach me how to do that? i said, what are you doing during lunch? >> reporter: green tutored; byrd learned the basics of coding. on his second try, he passed the apprenticeship test. and immediately tripled his pay. are you sorry you didn't go to llege? >> no, not now. >> reporter: and so, a final question, for philosopher and longtime professor martha nussbaum. do you think every young person in america should go to college? >> yes. well, everyone who wants to. going to college has three purposes. one is to prepare you for a job. a second is to prepare you for a life full of richness and meaning. and the third is to prepare you to be a

paul that's why ibm's former : software apprentices could hardly believe their ears when ibm's kelli jordan told them: >> we've been partnering with the american council on education and they've actually determined that the software development apprenticeship program is worth up to forty five college credits, which is the equivalent of three semesters of college. paul putting tony byrd close to : an associates degree. and mariana perez close to a bachelors. though she no longer needs one to get a high-paying job. >> this is one of the guys i kicked off the water station. he was taking a lot of loads of water. >> bandits are stealing millions of gallons of water, driving water tanks, tankards, and pickup trucks, they are tapping into lakes and rivers, firetrucks, and filling stations, siphoning water from homes, farms, and oils, so who is on the receiving end of all this stolen water? local officials say it is off an illegal pot farms, which is an 8 billion dollar industry in california. the desert is now strewn with makeshift pot farms. california allows them with proper per -- prope

tom: with ibm, it is sporting. but with at&t, you really wonder some of the decisions along the way. our good decision right now is to have annmarie hordern join us, bloomberg washington correspondent. it is just simple given the last 24 hour news flow of a 4.7 statistic. what is the president's agenda today involving these two pieces of legislation? annmarie: likely, he will be working the phones to try to get this over the finish line. this is his way to try to sell his agenda yet again on the heels of yesterday to the american public. but something has changed. yesterday we thought we were a step forward. even if jonathan called it a baby step forward. today i feel like we are taking a big step back. it is about what we can skim and sacrifice to get this bill over the line. today it is about ground zero yet again about how they are going to pay for it. tom: just goes to john micklethwait's begin with the prime minister the other day. you've got to get in front of the camera. from where you sit, is it a town meet

refuting every single one of the points saying ibm never gay a $11 eps expectation. the company receives value for the investment in r&d and a multinational company with two thirds of its revenue from outside the u.s. also refuting the other points including the projected growth from formerly sbinternal purchas and the interest in the company to split into adds above the midterm model and where that comes from and they also dispute the fact that the spinoff is financial engineering that he asserted saying it's a separation of its management infrastructure business and the evolution of ibm to a high bid, cloud and ai company and die vested companies that don't meet the shift to value and then pc, printers, chip manufacturing stephanie was on saying she's holding on to ibm. they report on wednesday what do you think of the short call >> you can be financial engineering without it being a bad word they spin off all the time. >> they say it's a strategic - >> help the valuation and the consensus for $11 in earnings plus next year the quality of earnings questions hoeps t

we will see how tesla and ibm are trading after hours. tesla reporting revenue fell short of all estimates but managed to beat and quarter earnings projections. ibm prepares to spin off its low growth legacy services. this is bloomberg. ♪ emily: more earnings coming up tomorrow when intel comes out with its quarterly report. it will be a big focus for investors. all this as the chip shortage continues to weigh on global supply chain issues. caroline hyde and romaine bostick will be live from the second-biggest container port in the country, the port of long beach. they will talk to key voices impacted by the supply chain squeeze. that includes jeff freeman and jessica caldwell, executive director of insights at edmunds.com. google's new phone includes custom chips, enhanced camera features and the price point, over $100 less than the iphone. you say that google could have a smartphone hit on its hands for the first time, why? >> i think for the last five years they have been struggling with 1% or 2% market share. this is the first year

we will get tesla tonight, as we told you ibm will be the story and csx, las vegas sands and ppg which was one of the original companies so far this quarter to have warned about input costs which continues to be a very strong dynamic as we evaluate earnings season. it is time for the ongoing tenth anniversary of the half. let's get to the judge ♪ ♪ >>> carl, thanks so much welcome to "the halftime report." i'm scott wapner front and center this hour, the rally in stocks and the s&p closing in on that new record high we'll debate the markets today with two very special guests, nelson peltz and greenlight's david einhorn both joining us exclusively today and the investment committee and jim cramer will join me in just a bit and first let's check stocks and they're in the midst of a five-day winning streak, 36, 95, we are above that. the dow above it as well 35,619 take a look at the ten-year approaching 164 and that is a key level to watch, as well. let's get right to it, though and welcome in our first headliner of the day, david einhorn of greenlight capital. welcome. >> good to se

ibm sinking and weighing on did dow. tesla higher and much more action after the close jobless claims below the 300,000 level in the latest print. more progress on the jobs front and oil making a move lower. today's downturn pressuring the energy stocks. 59 moneys left to go in the session. consumer discretionary in the lead right now. >> on the show another can't miss fed interview in a moment rafael bostic will weigh in. plus a pulse check on software autos and chemicals when we're joined by the ceos all on the back of earnings. and more earnings after the bell including intel, snap, chipotle as scott mentioned and mattel. >> let's focus on the big stories at this hour mike santoli tracking the market action and steve liesman with the fed's new move mike, what are you watching in the market >> index is pausing at the old highs. from september 2 really some strength in the larger nasdaq stocks keeping that index green and the majority of stocks on the s&p and the new york stock exchange are down on the day but you see t

with ibm, you can do both. businesses like insurers can automate it processes across clouds. so agents can spend more time on customer needs. and whatever comes your way, you've got it covered. saving time and improving customer service, that's why so many businesses work, with ibm. ♪ earl: - hey barista: - good morning, earl! narrator: - since our beginning, barista: - there he is! narrator: - we've looked to inspire and nurture each other, by asking what's possible? what's possible when we connect? office worker: - coffee's here! narrator: - what's possible when we come together. female 1: - kayla? female 2: - oh. is it ok to hug? narrator: - when we open our hearts. female 2: - this is like the best date i've ever been on. narrator: - when we grow together. narrator: - after 50 years, we've learned that possible is just the beginning. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. working at recology is more than a job for jesus. it's a family tradition. jesus took over his dad's rou

what is your take right now on ibm? you know what? the stock has been kind of a sleeper. it is up 14.5% year-to-date. been a little quiet over the last few months and it is down 5.5% from its 52-week high what say you today >> well, if you think about it from a valuation perspective it is clearly more attractive than other areas of the tech space. i think a lot of investors got concerned with whitehurst left the firm that the integration of red hat would be stalled out in the investor call today the takeaway it is going forward as planned. the consulting business is trying to monetize existing relationships by bringing in strategic partners i think ibm pays a great dividend and it is a great way to add to technology exposure if you want to stay out of the way of the faang sell-off we are experiencing >> union pacific up grated from equal weight at bark lays. you own that, shannon. >> i do. i know a number of people on the committee own this stock, maybe not today, but if you just think about what we're experiencing with supply chain dislocation, the need to build inventor

ibm. >> that's for sure it is good to see you, tyler this is a restructuring story. any progress they are making on the new businesses, which are really cloud and ai, blockchain, that sort of thing, that's what we are focusing on for the quarter. they bought red hat two years ago and that business has been on fire. they grew 17% last quarter alone at red hat i expect that momentum to continue but this is the focal point, for sure they also spun out their infrastructure outsourcing business why this is important is because it has been a drag on sales by 100 to 150 basis points. i think that will be good news that's november 3rd, the official spin. of course in general commentary about enterprise send can the recovery we heard from salesforce, from workday, cisco, all starting to see a recovery i expect ibm to benefit as well. it is not expensive. it is 13.5 times earnings and you get a 4.5% dividend yield while you wait for the restructuring. >> what did you think about what jim chain owes just revealed on the "halftime report" that he is short bip and questioning the

dan: this will again be a show me quarter for ibm. they are a company that is in never ending restructuring mode. that is helping their cloud unit, which is 40% of their revenue. we are looking at $207 per share. it is a free cash flow story, it should generate $35 billion in revenue. they get a little bit of an uptick in terms of their mainframe business, we are looking for revenues to grow to percent this quarter year-over-year. they have a lot of overhang. they are in the wrong segments of technology in terms of not being focused on cloud. they have exposure in the chip space, that can hurt with supply constraint. for your viewers watching it, i would view ibm as a pure dividend play. their yield is 4.6%. take the yield and hope for the best and maybe they will start to improve on the top line. amanda: i have to ask you more broadly about techs in general as we ponder if the fed will need to rethink. we are seeing high inflation data around the world. there could be renewed discounting the needs to go on. do you remain bullish on t

ibm drowning in red at the bottom of the dow and the s&p. weakness in the company's cloud business and a pullback in client spending caused revenue to miss analyst forecasts, ibm down 8.7%. by the way, if you bought ibm five years ago, it's not only dead money, you're down 13%. >>> but scroll up, let's get out of that, all the way up to the top of the-, and we have h -- the list, we have adjusted earnings, hp increased its annual dividend, it's getting rewarded. that's how these things -- hbq up 6%. and crop shares, take a look, stomping higher by 9.5% despite supply chain issues and the temporary shuttering of a vietnamese manufacturer. it remains fleet of foot by shifting productions and turning to air freight which is less expensive or at least gets the product there faster in order to transfer goods. >>> a cdc advisory committee meeting right now to discuss booster shots of moderna, the j&j vaccine and whether they can be mixed and matched. you're saying didn't that already happen, liz? no, the fda gave the green light yesterday to that.

this slight pause that ibm is in they may be saying all the right things, a.i., hybrid cloud but they have to really deliver, jon. >> yeah. i think the cloud and cognitive performance is really what has some folks concerned these are supposed to be the higher growth businesses where is the umph there. but to me the read-through here potentially is on enterprise spending i wonder what we'll hear from intel about the data center business, julia, and also, you know, their margins, given this environment. and you know, intel's already -- i believe, last quarter was talking about how they were doing some pricing to try to keep the likes of and from taking market share, but i think the enterprise read-through is interesting here >> yeah. and i think it's really key that they did provide any guidance. it will be interesting to see what guidance intel provides of course we're in a period of great uncertainty. but i think the lack of guidance is going to be weighing on companies that don't provide it. i think for all of these companies, jon, everyone is going to be trying to figure out what to

but talking about ibm saying things are wrong but i think doing a lot of things right. i understand that might say he's spinning off one division and bulking up another i think they have good hybrid cloud strategy not a disbeliever. lou in california. >> caller: hi jim, been a fan over 20 years, first saw you as reverend jim bob on the church of what's working now and guest host on squawk >> the late mark >> caller: i miss him. you had a segment on the 5g stocks, all have done extremely well skyworks is off more than 20% from all-time high what's going on? >> i think people feel that skyworks is too cell phone centric, i think it's made acquisitions and trying to get beyond that. i have to tell you, i think you can buy skyworks here, griffin is going to do good job. i like it very much. tonight's charter says snowflake and service now could be ready to take off. i think it makes a ton of sense. more "mad money" ahead and deluxe, how has it expanded to be with 4 million small businesses and why is it doing poorly of late housing industry is showing cracks in the foundati

tepid on ibm. keith horowitz very excited about goldman sachs. what is the craft to avoid an ibm? adam: you have an issue of share losers and margin contractors underperforming. if expectations are starting to rise about a turnaround story and the disappoint, the stocks don't act well. i have this whiteboard behind me and i write down things people ask me. i say the phrase is i want to long compounder's and short melting ice cubes. 18 compounders, nine melting ice cubes people mentioned last week. i think ibm fits in the ice cube category for a lot of hedge fund managers. they don't see a path toward sustained revenue growth for margin expansion. tom: let's get you in trouble on the ice cubes. i don't want you to fall into the ocean like a polar bear. where are the hedge funds now? what is the commitment you see right now? adam: there are different flavors and styles. i think generally people are still overweight with tech stocks. the risk is obviously if you get a backup and yield -- in yield. people will sell off sharply like it did in february. they have to focus on the gross m

with ibm, you can do both. your business can unify apps and data across your clouds. so you can address supply chain issues in real time, before they impact your bottom line. predicting and managing operational issues that's why so many businesses work with ibm. - i'm norm. - i'm szasz. [norm] and we live in columbia, missouri. we do consulting, but we also write. [szasz] we take care of ourselves constantly; it's important. we walk three to five times a week, a couple miles at a time. - we've both been taking prevagen for a little more than 11 years now. after about 30 days of taking it, we noticed clarity that we didn't notice before. - it's still helping me. i still notice a difference. prevagen. healthier brain. better life. maria: welcome back. suing over shots florida filing another lawsuit against the biden administration and also against nasa over maxine bennett for federal workers. it interferes with the employment policies and threatens the states economies for joining me right now the woman who filed suit, attorney general ashley moody. ag moody it's great

saving time and improving customer service, that's why so many businesses work, with ibm. (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. gerry: in new york kathy hochul declared a state of emergency hospitals and schools face staffing shortages to the mandates the biden administration is planning vaccine mandates for many workers that many american countries, let's take it up with our panel these vaccination band-aids were seen all kinds of problems and the situation in new york city, united airlines said it was get a fire 600 workers this week, not only questionable in terms of legality and constitutionality it could do real damage to the economy to. >> those are two different issues, the legality is going to have to go through court process which will take a long time maybe the problem will be over by the time it's based in enormous logistical problems, there are 650,000 hospital and nursing home workers in new york state, the vaccination rate really jumped up in the face of the thr

ibm is the seventh largest company in the nation. they hire a whole lot of folks. we know that small businesses hire upwards of 66% of the american workforce. they have to hire literally their own vaccine czar to figure out who is vaccinated and who is not for their customer base like in new york and also their employees. what is this going to do to the price of things? >> what it does is artificially raise costs. we have costs rising because the fed is printing too much money which will avalanche the economy next year which they'll stop the gimmicks next year. they artificially -- the whole thing and the breakdown of the supply chain from covid. economists and experts under estimates when you shut down the global economy. you don't turn it on like a light switch. they keep adding the artificial barriers that stand in the way, raise costs and that is going to hit the consumer which will hit the economy. connect the dots, hello. >> harris: it seems so basic and of course you are so great at explaining things it makes you even understand it to the point like you want

saving time and improving customer service, that's why so many businesses work, with ibm. i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management software built for small business. high thryv! ow. get a free demo at thryv.com. centrum multigummies aren't just great tasting... they're power-packed vitamins... ow. that help unleash your energy. loaded with b vitamins... ...and other key essential nutrients... ...it's a tasty way to conquer your day. try centrum multi gummies. now with a new look. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ jack given the runaround revenge travel but i'm sorry you're so angry tells about this. >> travel industries hopefuls use this in the summer for this is must be cooped up travelers who are making up for lost time spending big on vacations. they got sidelined for the delta very. cases are now falling. the crews lines were getting ahead of it. royal caribbean just announced a nine month cruise, a record cruise more than 150 destinations on all seven cont

one more thing before we go, new vaccine mandate hitting the tech industry cnbc reporting that ibm has told its u.s. employees that if they don't receive the covid-19 vaccine by december 8th they will be suspended without pay. the reasoning is that they must comply with president joe biden's vaccine mandate for federal contractors. the company is stopping short of firing employees, told cnbc in a statement that they will consider religious and medical exemptions john, you've got to wonder how important these vaccine mandates are going to be to get the u.s. population beyond the pandemic phase and into more of an endemic phase. the combination of these vaccine mandates and hopefully some of those treatments, as well. >> the cynic in me wonders for a company like ibm that's got a lot of employees some might argue that they could trim a bit, carl, in a tight job market might this be a way to see who is really enthusiastic about working for ibm? perhaps among those who are unvaccinated there are options out there, and maybe that's not a bad thing on either end there are a lot of options an

then ibm gets in the game designing these ibm pcs. they come in and they eventually take over a sizable share of the market. the companies that got created are now giant, too. we have real innovation. right now, where you go, you know, if you want to put your vacation photos up, you go to facebook. you don't have any choice. if you break them up, you will have multiple companies filled with a lot of the same people, but now running those companies and you have a lot more competition, a lot more innovation and a lot more dynamic because they start showing up again and that field. right now, those markets are closed. >> we got agile and and yet, now, it just seems like everybody wants to show how big they are. isn't that historically an unhealthy trend? >> very unhealthy trend. look at history in the valley since 1960. look at the leading companies every 10 years. they have pretty much completely changed every decade. the rest of them changed every decade had lately, that is not the case. we have companies now that her 20-30 years old t

saving time and improving customer service, that's why so many businesses work, with ibm. it was a rough week for tech stocks at the sector took a hit on monday but bounced back after reports of a deal the debt ceiling for and where they go from here question a joint may now fund a founder portfolio manager dan niles for thanksgiving so much for coming on the show appreciate. >> is my pleasure jack. >> seems like tech stocks have been on a run forever over the past five years they've returned more than two 100% versus about what had a% for the s&p 500. a lot of great tailwinds view think those tailwinds could turn to headwinds? >> yes i think you have to understand with those returns, the environment they were made and, if you think about the year before the pandemic started, the s&p was up 29% and then the pandemic hits and the s&p was up another 16%. this year with it pandemic continuing the market is up another 17% on top of that. so either you think the pandemic is three times is good for the s&p, which by the way returns normally 6% a year, then a normal period of tim

ibm sinking and weighing on did dow. tesla higher and much more action after the close jobless claims below the 300,000 level in the latest print. more progress on the jobs front and oil making a move lower. today's downturn

with ibm, you can do both. your company can monitor threats across your clouds, address all those regulations, and still create all new experiences. trustworthy ai powered security. that's why so many businesses work with ibm. befor years. ye. but there' animal in. (animal drumming in distance) (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... >> brennan: if you're not able to watch the full "face the nation," you can set your d.v.r. or we're available on demand. plus you can watch us through the cbs or paramount+ app. ♪ say it's all right ♪ ♪ say it's all right, it's all right ♪ ♪ have a good time 'cause it's all right ♪ ♪ now listen to the beat ♪ ♪ kinda pat your feet ♪ ♪ it's all right ♪ ♪ have a good time 'cause it's all right ♪ ♪ oh, it's all right ♪ ready to shine from the inside out? try nature's bount

the daily momentum on ibm has turned a bit positive. but long term i believe this is an underperformer. because i am collecting premium i am holding on to this trade. i still have quite a bit of time left because it hasn't triggered my stop loss here, i'm going to hold onto the trade and look for weakens in the next several weeks. >> mike was beefing up on the bread sticks >> i expect to see olive garden's margins increase much they have done a good job downsizing the menu. their margins are outperforming their peers. in may we may see them report margins better than their prepandemic levels with that, i obviously like the stock. i was looking out to november. the 145, 165 call spread when i was looking at that, and that is an in the money call spread i should say because the stock closed just under 150. >> that trade was satisfying so mike, seconds or the check? >> yeah, i think we're probably going to want the check. here's the thing first of all, earnings turned out great. the stock almost ran up to that chart 165 strike i think we p

with ibm, you can do both. your business can bring data together across your clouds, from suppliers to shippers, to the factory floor. so whatever comes your way, the wheels keep moving. seamlessly modernizing your operations, that's why so many businesses work with ibm. i earn 3% cash back at drugstores with chase freedom unlimited. so i got cards for birthdays, holidays, graduations, i'm covered for everything. which reminds me, thank you for driving me to the drugstore. earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. ♪ jackie: southwest now giving out vouchers to passengers strand thed when more than 2,000 flights were canceled this week. the airline denying flights were grounded because of pilots calling out sick to protest the vaccine mandate, but rather, that it was bad weather and air traffic control issues. many industry analysts are now worried this could be a sign of things to come this holiday travel season. joining me now, front

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with ibm, you can do both. your business can unify apps and data across your clouds. so you can address supply chain issues in real time, before they impact your bottom line. predicting and managing operational issues that's why so many businesses work with ibm. ♪ maria: welcome back. chaos on capitol hill as the biden agenda hangs in the balance. speaker nancy pelosi facing a party deeply divided over a massive $5 trillion spending bill. senator ron johnson serves on the budget committee, and he joins us right now. senator, it's great to see you. thanks very much for being here. there has been back and forth, i know, all weekend as well as at the end of the week. tell me about the pushback. you've got moderates like joe manchin not wanting to pay -- not wanting to agree to a $3.5 trillion plan which we know is actually 5.5 trillion, can ask then you've got progressives like bernie sanders saying we're not voting for infrastructure if spending does not come first, right? >> well, what's interesting is joe manchin, it appears, has been very up front, straightforward

ibm on that chip shortage. then we had some losers, ibm and freeport not doing as well. take a look at this. for the third quarter, $1.62 billion, sharply higher on a sequential year-over-year basis. this topic -- despite the chip shortage, it is not affecting tesla at this point. you saw ibm and freeport-mcmoran very weak on the day. we are looking at the biggest punishment for companies that missed going back to 2017. the average move down is 4.3%. much more so over the last couple of years. 2017 not again shown on this board. that's how big the declines are for companies that don't manage well and don't beat expectations. alix: that a such a good point. thanks very much, bloomberg's abaco doolittle. stay with us for earnings. we are going to talk to gary kelly, southwest ceo, later in this hour, and mike jackson, autonation ceo, as well. let's go to d.c. chances of an agreement on how defund president biden's social spending plan are once again receding. negotiators are working on a tax hike and climate plans with senators joe manchin and kyrsten sinema. annmarie hord

investors bracing for a busy week earning season kicks into second gear, tesla, ibm, netflix and many more on deck. crude climbs higher as options traders pile in to more bullish bets some calling for $200 a barrel in europe. >>> bitcoin's boom showing no signs of slowing down as wall street prepares to welcome the first crypto futures etf. >>> china, third quarter growth missing the marks and beijing's multisector crackdown all being blamed >>> can investors get excited about apple outside of the hardware lineup. we'll find out at 1:00 p.m. eastern today. you're watching "worldwide exchange" here on cnbc, it's october 18, 2021 >>> good morning, i am frank holland in for brian sullivan. we'll kickoff your monday morning with u.s. stock futures. they're slipping this morning opinion let's take a look. all three are down fractionally right now, the dow looks like it could open up about 100 points lower. this comes after the major averages ended last week on a high note with the dow posting the best week since june and the s&p seeing the best week since july looking outside of stocks. oi

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with ibm, you can do both. your business can unify apps and data across your clouds. so you can address supply chain issues in real time, before they impact your bottom line. predicting and managing operational issues that's why so many businesses work with ibm. (video game vehicle noises, engines revving,) (horns beeping, cars hitting one another.) (continued vehicle calamity) just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist, including automatic emergency braking. find new peace of mind. find new roads. chevrolet. maria: welcome back, pain at the pump. americans are spending on average over a dollar more a gallon than this time last year. as oil prices surged to a seven year high. georgia congressman buddy carter serves on the energy and commerce committee joins me right now. congressman is good to see a thank you so much for being here. what has been the impact of the move in oil prices from your standpoint? lex well, we've got the highest oil prices we've had in seven years. not only oil prices but everythi

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we've got a call while the hearing was going on from ibm complaining that i was raising it. i said you show me anywhere in that book where you can contest the veracity of that. the point is the complicity of u.s. corporations and you, mr. chu, talked about a couple, meijer myer brown, the law firm, we were asked to provide a specific service on real estate matters. talk about a euphemism and a terrible, terrible-- how does he look himself in the mirror and talk about the biggest accounting firms and deloitte and others and so many others that have been complicit. we had a hearings on the olympics recently and i chaired one and my friends and colleagues because i'm ranking member on the china commission as well. two great hearings. i kept asked coca-cola about, you know, why aren't they speaking out? why aren't they trying to get a different venue for the olympics? and the answers were horrible. you know, because they didn't want to lose market share. that's the bottom line. that is bottom line. could you talk about that? and pastor chen and anyone of you could speak about it