and hertz clearly tried to play into that. leading up to this ipo, they made this announcement about teslas which may or may not have been signed, but they clearly wanted to get that out there before the ipo. these commercials have been playing with tom brady showing off the teslas and education of hertz's fleet. i am wondering, is this what investors want out of the company? is this what they are buying into, maybe not today, but longer-term? crystal: i think there may be a buzzword. whenever you mention -- a vehicle, it does really well with the stock. even activists are pushing retailers like macy's to do a collab with tesla. thei parking locations, that they should put in a tesla thing. whenever you mention electric vehicles. caroline: just say you are going to do an nft or collaborate with tesla. crystal: right. that suggests that this retailer should get into cryptocurrencies. caroline: we are in a meme, people. crystal: and tom brady's faces all over the place. romaine:. romaine: do you drive and ev? crystal: i do not.

, we talked about this last week, guys this is the reason you saw shares of hertz pop early last week when mark feels, the interim ceo announced this deal. all of this coming when there's so much focus on what's happening in the ev market because of an ipo that is expected to happen as soon as next week. we're talking about rivian, an electric vehicle maker these trucks, delivery vans for amazon as well as pickup trucks, there's me driving the r1t the electric pickup truck that the company is now delivering and they've got a number of orders there their ipo, here is what we know about this, this was the s1 originally filed october 1st the amended october 1st was filed yesterday. it will be traded on the nasdaq. rivn is the symbol ticker. 135 million shares will be offered and amazon, which already owns a 20% stake in this company, they did say in the amended s1 that they, amazon, may van interest in buying additional 200 million by the way the valuation of this ipo right now is expected to be a little north of $53 billion. as we mentioned, amazon owns a 20% stake in this company, ford

erik: avis was trash talking hertz on the conference call. knowing what you know directly from the manufacturers about the current and future supply of electric vehicles, what are the chances avis or enterprise will catch up with you? thomas: over time we will see all of the rental car companies transition to ev's because that is what we believe consumers want. there is a huge percentage of the population that wants to drive electric vehicles. we think that will only happen with increasing speed as time passes. it is natural evolution for the industry to take and you are seeing that on the oem site and the product delivery side. you'll see it in ride-hailing. i think this is the first step of large transformation and a process of bringing electric vehicles into mainstream. we are happy to be playing our role. our goal is to bride customers with what they want, and we believe this effort hits the nail on the head in that regard. erik: unless you have been living under a rock, you will have seen hertz has a new pitch man, he happens to be a sup

gold the hertz. we're going to have hertz. >> yeah. >> did you know -- i guess i knew hertz is yellow, it's a yellow thing. so out in the lobby, i was walking along and i passed a mirror and i was like jaundiced. i thought i was like jaundiced. >> did it blind you, the bright yellow >> my liver has finally given up after 50 years -- >> it is an eye-catching color you got herbie out there >> there's a lot of yellow but it's cool. look forward to that look forward to marc fields we'll have that interview later. >> marc fields and three of the board members. >> they're here. >> yeah. >>> let's get to the robinhood story. shares are under pressure. i'm thinking about what i said with my liver saying finally enough i can't do anything. >> no mas. >> yeah. that's not something to joke about because when that happens, you don't realize how much you need it until it doesn't work. >>> the company disclosed the intruder gained access to information of millions of users. the breach took place wednesday evening

hertz saying, through a spokesperson, deliveries of the teslas already have started. we are seeing very strong early demand for teslas in our market fleet, which reflects high market demand for tesla vehicles and look, they had a commercial or a video they put together with tom brady, where he was plugged in and they were talking about the importance of hertz going electric that's the reason shares have taken off over the last week and remember, the hertz deal is not the only reason the stock went from -- and i think it was trading in the early 900s. 930 and now it's up in the 1100 to 1200 range. hertz deal is not the only reason why shares of tesla have moved higher but one of several factors that serve as a catalyst. this deal is for 100,000 model 3s that have already begin, according to hertz, and through the end of next year significant deal for hertz and for tesla, regardless of what the prices is going to be. and the tweet got a lot of attention and still is >> shares of avis budget group up 56% this morning. what is going on with fleets in general? >> they have

guy: is elon musk on board with a deal with hertz? ed: that is the most difficult question you could have asked me. what he was reiterating in his tweet was the idea that tesla is supply constrained. elon musk has mentioned on more than one occasion that he feels that they stock is valued too high for tesla, and this idea that they are supply constrained. in other words, they cannot build enough vehicles to meet demand. a big part of that story is a new factoring europe, and germany, and the plant coming online in austin. elon musk has been very close to the retail investor, very close to the tesla customer. if you read his tweets over the years, what he appears to be saying is that hertz is not the priority over anyone else. alix: is that true? ed: it is hard to say. they are on course to one million vehicles in 2021, approximately. but there are people that tweet constantly, i placed an order for a model three, i placed an order for a model y, where is it? people constantly tweeting out elon musk saying, hold on, i have been waiting

elon musk tweeting there is no contract signed with hertz. hertz issuing a statement to bloomberg saying, we are already taking delivery. the stock dropping, then rebounding, closing up 2.6 percent. you are not even listening to me speak because avis is closing up 108%. one point higher by 218 percent following earnings. ,'s from the cfo about their future and electric vehicles, and then being on the platform. a lot to take in. we will talk about it later in the show. specific stock movers in the tech space, starting with meta-. the company form or not -- formally known as facebook. the company announcing it won't use facial recognition on the platform when it comes to photos and videos. netflix up by half a percent. it's launching into video games and new titles. the story of bloomberg roque earlier. microsoft, one of the better performing stocks, up, giving its version of the metaverse, and you will deal with that right now. emily. emily: thanks for holding down the fort in san francisco. the metaverse -- if you are worried the metaverse wi

cnbc reached out to hertz an tesla to ask for comment brian? >> that's going to be a big story today. we'll see what happens with tesla. moved it on the way down, see if it moves it on the way down or if they can scramble and save something. >> sounds good >>> it may not be tesla but let's stay on so-called clean energy plays because your first guest today brought a big name for us saying all she wants for christmas is a higher return for stocks and volatility to throw in the stocking. joining us is tiffany mcgee, somebody i had the pleasure of meeting in person in l.a. recently i know it sounds early to talk about christmas but i guess with supply chain issues, it doesn't. all you want for christmas is a little volatility, what do you mean by that >> yeah, so, hi, brynn g good to see you this morning. volatility is a chance to add to the position you have at a better valuation a lot of times people look at the dips in volatility and think it's a bad thing, but it's not it's a good thing. especially coming off this october that we had with very

interesting to hear you talk about hertz. it is not easy for tesla decidedly deliver 100,000 vehicles to anyone. they are supplied constrained. that is the question about rivian. how can this be a $70 billion automaker when it will take them years to ramp up to a level of production or they are a meaningful player let alone seller to fleet companies like car rental companies. alix: analysts have been talking about the natural constraints reviewed will face. what is that? ed: they are going out after something that has been missing. electric vehicles today are sedans. americans do not drive sedans. they are driving pickup trucks and suvs. when rivia had this coming out moment, everyone was like finally, a bulky pickup that can compete. rivian is looking at european site particulate in the u.k. the opposite is true in the u.k. , people do not drive big trucks and suvs. investors said they have raised a ton of money and have a roadmap to a future that starts with a pickup truck you see on your screen. download -- down the road l

as to cob summers hertz deal has zero effect on our economics. here's what hertz's interim ceo told us last thursday. >> we have relationships with all of the auto makers and we want to help them as they introduce electric vehicles we're going to them not on a transactional basis it's a strategic discussion that says how can we help you achieve your obje objectives, we've done it with tesla and our intention is to do it with all the automakers >> tesla down about 5% right now. this is not the first time elon has come out and said i don't understand the stock price is too high, if it's because of this, let's pay attention to it. although probably worth pointing out if this is a negotiating tactic if hertz was pushing for a better deal, better price, this is elon saying no we don't need your business because we have more demand than we can fill right now. tesla shares down by almost 5% lucid off by about 4.6%. some of the other makers down as well and hertz shares after they announced the deal last week were up more than 20% too. so you wonder what

hertz will be very indicative also. so below the offering, but this is like a bankruptcy stock turned around quite quickly, and now it is an ipo yet again. if we are able to stabilize, the nasdaq 100 also because tesla is getting hit, but that is more idiosyncratic. michael burry saying you should sell shares to pay some debt. but aside from that, if you look it could be a relatively good tape because it is a pretty chunky ipo. i'm using your words. this is so unfortunate. guy: yeah, it is bananas. it is a story that basically, the halo effect of ev is amazing in terms of the effect it has on the share price. there was a really interesting note out earlier this week from jeffries on volkswagen that seems to imply maybe volkswagen had taken that too far. at the same time, they upgraded the target on tesla massively, so still seeing significant upside there. headlines coming through. boris johnson to travel wednesday to cup 26 in glasgow -- to cop-26 in glasgow. the european close is coming up next. this is bloomberg. ♪

they say hertz doesn't have a firm order for ted lasso. they say elon musk -- firm order for teslas. they say he learned is dumping model 3's. what you say to that? >> there is demand for our product. we have a very robust environment for the rental car industry. we are very focused on bringing products into our fleet that we know people want to rent. there is no question they want to rent teslas, no question they want higher value vehicles. no question is a big move to electrification. the people who doubt what we are doing, we would simply ask that they stay tuned and watch because this is just the beginning of an effort to put hertz at the center of mobility in a way to serve our oem partners and our customers, to provide a better rental experience in corporate partnership with those parties. >> mark, tom and greg are financial guys. you are a real economy ceo, you ran forward. you know about operation and execution. what are the biggest challenges hertz has to overcome in the transition to what we might call shared mobility? >> first o

although hertz says they've taken delivery of some of those. and kelly, the rental car side of things. the stock moved the day. you can make an editorial call here look at the near doubling of shares of avis budget group. there are a number of reasons for this there's a fundamental case, somewhat, for a move higher. whatever degree that could be, because they come out with better than expected earnings and revenues and add $1 billion to stock buyback and technical factors, because this particular stock had about 20% of its shares outstanding short bet against it which does lead to some surges and short squeezes whatnot a big deal. >> the stock up 97% today? >> yeah. today. that's today's move. a doubling in today's -- now, i mean -- kind of crazy. look at overall session so far right? this particular move higher, it's triggered a number, a slew of different trading hauls through the the course of the session. avis budget trade, $336 now. towards $500 at one point today. kelly, say this. i looked back at the pandemic. remember, the pandemic, tra

that announcement sent shares of both tesla and hertz on a big rally. apparently in response to a cap dutch tesla fan account pinking must for stock gains, musk tweeted in a tuesday u.s. session, you are welcome and went on to emphasize specifics that no contract has yet been signed. he also emphasized there is more demand than production, no special deal was given to hertz and he has tweeted that it has zero effect on our economics. that bottom line is why the stock took a dive in the latest session. are looking at a three-day run but it is down about 3% in the tuesday session. hertz did not spun directly but they said they are already receiving some of the cards it ordered. it made the additional order and is getting strong response, people want to rent these cars and perhaps love to tesla, it reinforces that these cars are very popular and looking at their shares. they went on a tear in the latest session, at one point they were up 35% today. -- year to date. most tweets are generally aimed at retail buyers and retail enthusiasts of tesla. he wanted

tesla, hertz says tesla has started delivering vehicles to their fleet. musk had said earlier that tesla has not signed that contract definitively. tesla is down 2%, 1182 is the stock price and musk is worth $325 billion. now this. rarely has an election for governor had such significance, the center of attention is virginia. this race should have been a shoe in for terry mcauliffe but it is not. he may lose. he upset many suburban parents with his comments on education. last night he said the state needs more black teachers to racially rebound. he has struggled to be in the party headed by president biden whose approval rating has tanked was when biden did stuff for him mcauliffe's support dropped sharply. very telling. in a state which biden won by ten points, one year later, an unknown republican has the edge. that speaks volumes about the democrats an ability to understand what voters are concerned about, race and welfare are a turnoff. of glenn youngin windsor comes close the democrats's game plan for next year goes out the window and so does the bid

claim hertz had them falsely arrested for stealing cars they rented. anna werner takes a closer look. >>> and gayle's exclusive interview with basketball legend magic johnson as we approach the 30th anniversary of johnson announcing to the world he had hiv. >>> and actor jonathan majors tells us about his new movie "the harder they fall." >>> that's the "cbs morning news" for this thursday. thanks for watching. i'm anne-marie green. have a great day. ♪

did this too these are highly indebted businesses hertz went bankrupt, one of the first victims of the pandemic. this past year -- ten years ago they had $10 billion in debt and now 17 these aren't great operating businesses it, in fact, was indicated not up at all after earnings and then one little conversation about electric cars and it took a life of its own, essentially going to 545 the irony of this kind of thing, whether technical or not, there are people who make great fortunes and people who on the day in question having hit 545, bought it at 500 thinking they were going to make, and all of a sudden lost 50% of their money all happening so fast. in just moments. the word untradable comes to mind >> even from an options perspective. because that's what we're talking about. i understand mike is not saying that one should go out and put any of these trades on guy, i'm curious what you think because i'm sure there is a little devil on your shoulder saying these are total shorts, nothing fundamental about the run ups in the stock, and yet there's the logical side of you that says i'

so far no word on this from hertz. back to you. >> thank you. >>> this morning we have learned pg&e is expecting a more than one billion dollars financial hit from claims related to the dixie fire. we have gone over the utility's latest filing the sec. pg&e revealed that it received a subpoena last month from the united states attorney's office in defense exhibit with the dixie fire. that fire consumed nearly a million acres. investigators say a burning tree leaning against a pg&e line may have sparked the fire. pg&e executives say a $1.15 billion estimate is on the lower end of potential costs from the dixie fire as claims continue to pile up. >>> pg&e issued this statement to kpix. we believe our action around the time of the dixie fire shows we are a reasonable operator of our electric system. we remain focused on reducing wildfire risk. >>> live look to san jose. today santa clara supervisors will discuss how they plan to spend the rest of its federal relief funds. that's about $300 million. here are the areas set

i did not own hertz and i'll probably be in the bank of america calls for the first week >> thanks a lot, dr. j the thanksgiving surge is under way, but airline stocks are pulling back today in the last week is this now a buying pouny? ades from the committee. that's next on "halftime." as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. >> a busy holiday travel season has begun. our phil lebeau is at one of the busiest in the nation, happy holiday, phil. >> here are magic words to the ears of airline executives it is a quiet holiday rush quiet being the key world there. three reasons the airlines are giving thanks this thanksgiving week, if you will. first of all, they are seeing definite increase in demand. in fact, what we're noticing right now is that no storms are causing cancellations, and as a result the number of people that the tsa are screening down 9% compared to 2019, the best we've seen since the pandemic began. because there's greater demand, airfares have increased. they're not to 2019

number two, we saw it get downgraded after the hertz/tesla partnership. so that was a glimpse into some future competitive challenges. >> well, they do have some future competitive challenges, but you've got things working in their favor. there's more corporate traveling. they have tight inventory in terms of vehicles. they have better revenue because they have the pricing power and that's likely to continue into the first half of next year. the problem is this, when you look at that chart go to a one-year chart this sets up perfectly for a by the rumor, sell the news kind of situation where people will sit there and say, boy, we've heard this all before. this is so good. this is a really nice run. time to sell this stock. so that's why when you talk with analysts, and i looked at some of the analysts notes on avis budget and most people said do not be surprised if you see a bit of a pullback after the numbers come out today. >> they're up fivefold i know you're not that excited i'm trying to get delano excited here today and i know avis doesn't do it for

so, the demand is there and hertz, obviously, thinks there are enough stations around for you to charge your car that is what i think people are reacting to. the recognition that tesla is now potentially at least a mass market car that if they can bring the price down, that people across the country can buy it rather than just in the coast. >> not to mention, that's not mentioning tesla but just the mere mention of ev on their call sending that stock shooting. back to sort of the inflation conversation that we were h having, you talk about excuses, what are we going to look to next year. there is one, i don't know if you want to call it an excuse or justification to why you could keep interest rates low and that is the cathie wood argument that broader technology trends are deflationary do you give that any merit >> i think that it deflects relative prices. i think cathie's argument cannot work at the overall price level. it might tell you why computers are getting cheaper relative to your food, but they can't explain overall inflation. i think when you think about overall inflation, hi

. >> quick willy ask, frankly not sure what we make of this tesla/hete tesla/hertz thing. what's the problem already taking deliveries and musk goes out of his way to say we don't even have a signed contract, i think exactly what we said. why are we having this conversation either it is or it isn't >> look, there is clearly a deal hertz came out today said we're taking deliveries here is there technically a signed contract in some fashion an agreement no indication hertz will not take delivery of 100,000 vehicles issue, scott, in the eyes of some tesla shareholders whether or not tesla sold the model 3s, 100,000 model 3s or discount common when automakers sell to a rental car company they don't pay top dollar for those and why they killed virgin i think elon musk is trying to assure people they are not selling model 3s at discount here hcoju say that. phil lebeau, thank you, as always final trades, next. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage. my retirement pl

hertz stock at the moment is dune below the ipo price of $29. not a great day for its debut on nasdaq. get to shares of royal caribbean group at moment, down 2.7%. after more than three decades at helm of the cruise company, the ceo richard thain is stepping down in january. the third longest serving ceo among all s&p 500 leaders. he will be succeeded by cfo jason liberty. but our "countdown" closer says the change isn't changing his view that you have to own the stock. gus is joining us now. wow, why, what is it about royal caribbean? >> liz, if you look at the analyst community what is happening, they had only 40% of their normal bookings in june. it is up to 50 but more toward 70 by end. year. people are spending 20% more on board. we believe the worst of covid is over. the pfizer pill is one of the things that is the game-changer. looking into steps next year the analyst community is pointing to names like this. if you look at amex, up tick of people wanting to travel. you have the stats right in front of you. this is prime play looking in t

100,000 tesla model 3s musk tweeted out last night there is not a signed deal with hertz. left people confused overnight and this morning and hertz said the deliveries have begun and the company says that it does plan to take delivery of 100,000 model 3s so signed contract or not it looks like the deliveries go forward from here. i think that elon musk saw the questions especially on twitter from people saying did you sell them at a discount will it hurt margins or the growth and wanted to reassure the investors they're not selling them at a discount and put out the tweet and caused the confusion with shares of tesla. >> extraordinary that all unfolded off 3% is a win given the surge today but a tiny surge relative to avis today. what is going on there >> look. far better sh far better q3 earnings than anybody expected 42% above the consensus estimate revenue much better than expected record pricing in the third quarter. and then they also washed out a fair number of shorts. going into yesterday a lot of those people had to cover positions today. that's why you see that sp

elon musk says the company has not signed a contract with hertz yet for that record order for cars. last week, the rental car company said it would buy 100,000 model three sedans for 4.2 billion dollars. that sent shares of tesla rocketing to a record high, but musk tweeted there was no signed agreement and that has a would only sell cars to hertz for the same margin is to consumers. the race in virginia will offer the clearest picture yet of how republicans face the midterm elections in 2022. mcauliffe is betting that the former president's legacy will turn out democratic votes. nancy pelosi plans to push forward with a vote this week on president biden's economic agenda legislation. she's getting pushback from moderates who want a detailed analysis of the full cost and economic impact. that echoes complaints from democratic senator joe manchin. he says congress needs more time to assess the bill. former opioid makers have scored of the first win in the four year litigation over the drug. johnson & johnson, tesla, and others defeated a lawsuit by local governments in california tha

hertz has announced a stock buyback program. it went public after -- the company has thousands of locations. the most high-profile black feature in luxury fashion has died. lvmh is start desire -- start -- lvmh's star designer battle cancer for several years. he was 41. he was known for success in sneakers and helping revitalize louis vuitton. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. ♪ >> this variant has a number of concerning mutations that resemble some of the other variants we have had. none of the variants escape the vaccine, none of them were like our worst nightmare. we have to go through the process of studying the variant while we continue to be vigilant. tom: joshua sharfstein on the domestic story of a micron and all we have heard about since for -- of all micron and all we have -- of omicron and all we have heard about since friday. kailey leinz and i with our conversation of

elon musk says the company has not signed a contract with hertz yet for that record number of rental cars. that since shares of tesla rocketing to a record high, but musk we did there was no signed agreement, and that tesla would only sell cars for the same margin as to consumers. pfizer has boosted its earnings forecast for the full year. guidance beat the average estimates. the drugmaker also forecast that revenue from its covid vaccine will be about $29 billion next year, well above the estimate of around $23 billion. bp will use proceeds of surging energy prices to woo investors who are disenchanted with oil and gas. the company will buy back another $1.25 billion in shares. the announcement came as bp reported a big increase in reported earnings from last year. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ >> the present framework does satisfy senator manchin. i understand he wants to read the legislation built on that framework. it includes fully paying for the

but, there was no signed agreement and tesla would only sell cars to hertz for the same margin. engineering material technology maker rodgers for $5.2 billion. that represents a 33% premium over yesterday's. rodgers develops advanced electronic materials used in electric vehicles. the proceeds of surging energy prices to woo investors who are disenchanted with oil and gas. the company will buyback another $1.55 billion in shares. the announcement comes as bp reported an increase from a year earlier. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. ♪ >> there are a number of jobs where people can make other people sick. healthcare workers can make their patients sick and that goes for the police, firefighters. it is appropriate for there to be a requirement. jonathan: that is one of payment -- that is one opinion. from new york city, good morning. tom keene, lisa abramowicz, and jonathan ferro counting your down to a fed decision tomorrow. your equity market unchanged on the s&p. unchanged al

car rental company hertz is facing a big lawsuit over claims that false reporting led to hundreds of arrest. the suit says that more than a 100 customers were arrested after the company falsely reported their rental cars were stolen. the couple customers from at least 7 states including california say they have legal rental contracts at the time of the arrest hurt says it only reported the non returns as thefts only after weeks and months of trying to contact the customers who went past the dates to return their cars. hertz has also filed for bankruptcy which could complicate the case walgreens, meanwhile, is set to close 5 its locations here in san francisco in the coming weeks because of a rise in shoplifting. the company has already closed more than a dozen of its stores here in the city because of the problem tomorrow, the location at ocean avenue and would acre drive will be the first to close prescriptions from that location will be transferred to the store and ocean avenue and fax it. this is a list of the other stories that are set to close next week. you may remember this vi

hertz had agreed to buy 110,00 0. musk pushing back that this is set in stone. it has had a stellar run the laew days. let's recap what is happening in the earning space, a big day with corporate numbers from bp, standard charter. anna edwards spoke to the ceo, talking about consolidation and continuing demand. that is a company that reported third-quarter ebit close to $7 billion u.s. bp coming in down 0.2%. they announced a $1.25 billion share buyback. standard chartered down almost 6%. did not raise the earnings outlook for the year. they expect income growth from 5%-7% for 2022. for more central bank action, let's bring in louise dudley, portfolio manager of global equities, hermes fund managers. thank you for joining us. what is your take of where things stand on the earnings picture, and whether we are looking at peak earnings given the backdrop of growth and concerns about inflation? louise: it is a bit more positive than people expected. expectations have come off a bit for september, and companies are coming in strong with fundamentals supporting some o

you might recall hertz said it entered into a purchase contract of 100,000 vehicles. then along came elon musk saying we don't have a signed contract. then we heard from tesla customers are you telling me this rental company goes to the front of the line for these cars? i don't understand it. thank goodness gerri willis does. where does this whole thing stand? >> this is confounding, executivess normally won't negotiate in public but guess what? elon musk is happy to. now looks like they're driving closer to some kind of a deal to answer your questions. looks like elon musk won the very public argument that emerged this week over hertz 4 billion-dollar order of 100,000 desla electric cars. earlier in the week the rental car company unveiled ad campaign showing availability of teslas on rental car lots. inside of tesla, worries mounted that existing customers waiting for their cars to be filled they might be miffed that hertz is jumping the line. hertz said it played a initial order of 100,000 vehicles for delivery by end of next year, that would be 11% of tesla's enti

hertz will be valued at $13.9 billion. you can catch the company's interim ceo mark fields on "squawk box" at 8:10 eastern brian, back over to you. london looks good on you there's this feeling that you elude over there >> you know what's amazing, you know what's -- >> i see >> there we go you know what looks good on all of us? sleep. >> sleep, what's that? >> i know. you know, all this stuff with the meme stocks i'm not saying you and i are old, i would never say that, we look fantastic. reminds me of 1998 and 1999, i posted a cover from forbes, day traders users the aol and yahoo chat rooms to teach wall street a lesson do you remember that >> but what's different this time from the chat rooms is that they actually are being paid attention to in the board rooms. i was listening to the clover health call yesterday and they took a couple of reddit questions. email is known to do that as well so there's a different dynamic that's happening where people actually pay attention to them >> they should to be fair it's a lot bigg

hertz has also filed for bankruptcy, which may complicate the case until the issues are settled. let's talk about our 4 zone forecast tonight, a live look outside at the golden gate bridge. let's get you ready for the start of a new week and rain is on the way. reese is here. tracking the timing. >> yeah, that's right. jonathan. cooler forecast 40's and 50's. as you step outside for your sunday night. and right now we're tracking clear conditions but an increase in cloud cover during the overnight hours won't really help with the patchy frost that could develop in form for our coolest north bay valleys, specifically those of you in santa rosa and napa, but very clear conditions out there right now. great shot of golden gate bridge this evening and your microclimate monday forecast. we're going to stay mostly dry throughout your morning and afternoon downtown san francisco, though, noticeably cooler about 5 degrees below average there. only warming up to 62 degrees with sunset district at 58 degrees in half moon bay in the upper 50's as a so we're all going to be about 5 to nearly

the irony is that hertz did this, too. they're highly indebted businesses they're revenues were eight billion. but ten years ago they had $10 billion in debt. it was indicated not up at all after earnings and one little conversation about electric cars and it took a life of it's own and the irony of this, there are people that made great fortunes and people on the day, on the day in question, borrowed it at 500 thinks they would make it and they lost 50% of their money, all happening it is so fascinating, in just moments. the word untradeable comes to mind >> i'm curious what you think, i'm stlur is a little del on your shoulder saying there is something fundamental. there is a society that says i'm not going to get in the way of this because these are trading on something other than logic, reason, orring in else >> so, you know, people say that short sellers are un-american somehow. they are possible to find shorts plays, vital, i would say, to the market just bear with me for a second just out west in utah, close by is y

elon musk says they haven't actually signed the contract with hertz foredelivery of 300 vehicles. time is up for me. neil, it is yours. neil: thank you very much, stuart. we're following all the anomalies. big, big campaigns going on throughout the country today. certainly focusing what is happening in virginia and in new york and of course new york city. mayoral race. don't forget about new jersey. we're focusing as well on very big guests, we'll weigh in on what is at stake today, including former secretary of state henry kissinger, why what the president is doing halfway around the world committing all countries to spend a lot of money. he has his doubts whether that can be realized, getting the results the world wants. harold ham, fossil fuel billionaire kingpin, what he makes of the message that all these leaders are send about fossil fuels and likely higher prices for you. meantime, go to to with the alexandria hoff with the youngkin campaign. reporter: he made a stop in western fairfax county to meet with voters. when he got into this he had 2% name idea. neil, he is one of

hertz has also filed for bankruptcy, which may complicate the case until the issues are settled. still to come, a southern california mother missing for weeks. we'll show you how friends and family are honoring her while investigators look. >> into her disappearance. >> and tracking a cooler cloudy and windy or day ahead of the next atmosphere river set to arrive in the bay area monday night. your full microclimate monday outlook after the break. stay tuned. i'm morgan, and there's more to me than hiv. more love, more adventure, more community. but with my hiv treatment, there's not more medicines in my pill. i talked to my doctor and switched to fewer medicines with dovato. dovato is for some adults who are starting hiv-1 treatment or replacing their current hiv-1 regimen. with just 2 medicines in 1 pill, dovato is as effective as a 3-drug regimen... to help you reach and stay undetectable. research shows people who take hiv treatment as prescribed and get to and stay undetectable can no longer transmit hiv through sex. don't take dovato if you're allergic to its ingredients or

see that, it's down 6% and nonetheless, hertz global is a publicly traded company. day, pointing guidance for next year sarat, everybody seems to like this name. you own it what's your takeaway here? >> well, i think it was a disappointing quarter. they did miss -- they tried to with the whole pinterest acquisition and they pushed the venmo and the amazon piece i still like the company and it's in the penalty box with one or two quarters especially as we go into year end and they've been calling for some slowdown on it, but i think it's a fabulous company and it's a huge cash flow company and i think they should buyback shares and they should really talk about how they're going to grow going forward. it's not going go anywhere, but as a long-term investor i'll add to it at these levels. >> you will be buying more at these levels, that's what you just said. >> yeah. no, absolutely absolutely i think the fundamentals of this company are very strong, and i think they had a bad misstep and this is the chance we've been talking about when do you buy paypal when they go u

certain stockholders of hertz at a price of $29 u.s. a share. they are expected to have an aggregate purchase price of $300 million at the price at that offering. hertz, the rental company that managed to exit bankruptcy in june has been trading over the counter, also planning that listing to list on the nasdaq. that filing had listed the size of the offering at $100 million on friday. it has of sized that offering now. we will continue to monitor that as details get to us. but we have lots more to come. this is bloomberg. ♪ is bloomberg. ♪ haidi: a quick check of the latest headlines. tesla shares recovered losses in new york following elon musk's twitter poll which endorsed him selling 10% of his stake. up to 3.5 million respondents -- analysts remain split on the implications. bloomberg intelligence points out this could get him in trouble with the sec if he did not clear it with the council first. it is not clear if he will follow through. tesla's shipments in china -- plunged 74% as it prioritize the markets abroad. the company

. >>> streaming today on cbsn bay area, the car rental company hertz is facing a lawsuit point dozens of company or customers claim they were falsely arrested for driving stolen vehicles. we will hear from reporter anna warner with in-depth the details. you can find cbsn bay area on kpix.com, or on the kpix app. we are also on ♪ ♪ low maximum out-of-pocket costs. more saving. more spoiling. one of many cost-saving medicare advantage benefits from scan health plan for 2022. call today, or ask your agent about scan health plan. the classic hollywood story. we meet the hero, the all-new nissan frontier. hero faces seemingly impossible challenge. ♪ tension builds... ♪ the plot twist. ♪ the hero prevails. in hollywood, this would be the end. but our here, we are just getting started. introducing the all-new nissan frontier. >>> nfl mvp aaron rodgers will not play sunday for the green bay packers point that follows a positive covid test. >> because he's not vaccinated, the cal alum is required to stay away from his team for 10 days. kpix 5 sports anchor charlie walter has a bit mo

it is 100,000 cars, how quickly hertz gets it. the latest report, hertz will wait like everybody else for their electric cars. they do not get ahead of the line. it will take 10 years. if it takes 10 years to get 100,000 cars for the hertz fleet. no discounts. rental fleet you're given cars at a discounted price. not the case here with tesla and elon musk. stuart: he can sell any tesla he can produce. use. susan: why give you a discount. stuart: benefit of to his stock just announcement of 100,000. susan: not the demand problem. stuart: domino's pizza, what is the story? the stock's up. susan: using more robots and drones. feeling inflation on the labor front and earnings as well. stuart: their stock is up 2 1/2%. good news. wayfair. susan: furniture seller as you know. surprise profits. sales are short because customers go back to bricks and mortar shops. it may take a few quarters to return to normal levels of growth. stuart: in a furniture store you like to touch it, feel it. susan: sit on it. jump on the bed. stuart: whatever.

car hire company hertz has ordered 100,000 tesla model 3 cars, and has partnered with ride sharing outfit uber to rent half of these to drivers. the move to sustainable electric fleets starts to hit the road next couple of years, though prospective uber ev drivers will pay around $300 per week to rent their vehicle. and from driving to floating, anchors aweigh, here comes the remote—controlled robot boat — or ro—boat. cruising amsterdam's canals after six years in the making, this plucky powerboat carries up to five passengers, goes a blistering four miles an hour and uses small cameras to get around the dock, with the hope of becoming completely autonomous in the next 2—4 years. it was a—boat time! plastic is durable, lightweight and cheap. but by 20110, 29 million metric tons of it are expected to enter our oceans each year. that's 50 kg of plastic for every every metre of coastline worldwide. one immediate way we can reduce this impact is to reuse the packaging that we get our takeaways in. and here is an app that hopes to help. time for brunch! club zero has just launched ac

and if i learn anything this week is -- learned anything this week is if you announce anything like hertz with tesla it will do something to your stock. it will be interesting to see when those drugs get delivered. i will point out the deal had a very heavy allegation toward cornerstone investors. on top of the investors such as amazon and ford, people like blackstone are also getting a big chunk of the deal. the deal itself looks like it is an 11 billion deal but it is much smaller and that is why the demand is much more intense. emily: how do you expect demand to evolve? >> this is a supply constraint business. demand will exceed their ability to supply for years and years. there is a concern from wall street that this truck costs and $70,000 even though it fits the category of what people want to buy there is only so much willing to buy. if you look at tesla, their vehicles are slightly more affordable. there is some concern in the marketplace. rivian has a ceiling over what you can sell each year. >> lots to continue to watch. thank you both. that does it for this issue of bloomberg t

hertz is a buzzing stock right now. first they ordered 100,000 teslas, letting some uber-drivers rent part of them. part of the whole reinvention of the company, they even have an ad with tom brady in it. the let's go ad. tom brady tweeted that out. they will get a lot of buzz. stuart: that was a let's go ad, right? i saw that. lauren: you saw that. stuart: different from let's go, brandon. i got that. thanks, lauren. >>> a company in ohio wants to solve the supply chain crisis with robots. their robotic system is operated from a smartphone. it just takes five minutes to off-load a container. that is a big deal. jeff flock will show us how it works. >>> price of gallon of gas is 3.$42. a senate panel is asking joe biden to get a handle on it. we'll have that next. ♪. i order my groceries online now. shingles doesn't care. i keep my social distance. shingles doesn't care. i stay within my family bubble. shingles doesn't care. because if you've had chicken pox, you're already carrying the virus that causes shingles. in

i think hertz also sees that it needs to electricry fit its fleet, and early refresh its brand. it was a smart move by mark fields and hits team in one fell swoop to really hit the headlines with electrification of their fleet that deal had some bumpiness, it sounded like, if the first few weeks, but maybe both sides would be benefitting from this we had them on and were trying to get a straight answer it sounds like just based on what you're saying, they could be paying full price >> yeah, i have no doubt that elon is right. he as a real discipline at tesla around no discounts for anybody. not even a discount for his mom, he used to say. >> that's harsh. [ laughter ] but at the same time hertz could be right that they're getting a government subsidy as well. >> john, you look at all these new players, and inevitably people will say can the market sustain all these players? last time you were with tuus, y don't own tesla. >> it's still the case every esg fund needs to own them, in addition to of s&p 500 index needs to own a tesla there's two things happens here. first off, evsed

the hertz rental car company is facing a lawsuit claiming it's false reporting of stolen vehicles led to hundreds of arrests. the lawsuit claims 100 customers were arrested after hurts falsely reported to police. their rented cars were stolen. customers say they had legal rental contracts at the time of the arrests, hurt says it reported the non returns as thefts only weeks after or only after weeks and months of trying to contact the customers who went past the dates to return those vehicles. the federal fraud trial if theranos founder elizabeth holmes is set to resume tomorrow in san jose, is the prosecution calls more witnesses to testify. venture capitalist chris lucas testified on thursday that holmes never told him that the company was using modified third party machines instead of its own. also last week, the judge granted a defense motion to exclude a key prosecution witness from testifying. that would be witnesses, a former their nose patient. the defense successfully argued that he should not testify because the prosecution misidentified the type of blood test he was given.

because automakers rely on contracts and if i learn anything this week is if you announce anything like hertz with tesla it will do something to your stock. it will be interesting to see when those drugs get delivered. i will point out the deal had a very heavy allegation toward cornerstone investors. people like blackstone are getting a big share of the deal. the deal itself is an 11 billion deal but it is much smaller and that is why the demand is much more intense. emily: how do you expect demand to evolve? >> this is a supply constraint business. demand will exceed their ability to supply for years and years. this truck cost $70,000, and even though it fits the category of what people want to buy there is only so much willing to buy. if you look at tesla there is a bigger mess market appeal. perhaps rivian has a ceiling on what a consult each year. emily: lots to continue to watch, thank you both, and that does it for this issue of bloomberg technology. make sure you join us tomorrow where we will be joined by the bubble ceo -- bumble ceo. i am emily chang. this is bloomberg. ♪ and ther