i'm streaming it on my computer right now. >> julia, thanks, julia boorstin stock is down 6.5% it should be interesting how this call goes with 80% owned by retail investors guy, what are your thoughts here >> it's not an earnings story, which is why i find it fascinating that people are flocking to the call it's worthy for the entertainment value for sure listen, $138 million net cash flow, free cash flow loss, not great on a revenue number, what, $760 million none of the numbers really make sense. but it's not about earnings, it's about everything else the stock has held really well, north of 40 again. people are playing it for much different reasons than the fundamentals by the way they have $1.8 billion in terms of liquidity. let's put it this way. there is definitely room to the upside based on the quarter. >> the stock was up 21% in the past month, it's had a nice run into this quarter. i wonder if it's a little bit of sell the news sort of pressure here >> it's had a nice run but it's been largely in a range since the last spike and where they had the raise and they ultimately had

. ♪ ♪ >>> welcome back to "techcheck" i'm carl quintanilla with deirdre bosa, jon fortt and julia boorstin this morning. stocks are in the red after the nasdaq saw itself 11th straight session in the green s&p seeing its longest consecutive all-time high streak since '97. keep an eye on amc today julia will have more on those results last night in a moment first news update with rahel solomon. >> hi, carl. good morning one of the original dow stocks is breaking up general electric was once a conglomerate that built everything from lightbulbs and jet engines to table tv networks including this one ge says it will split into three separate companies to unlock value and shares are up about 4% on the news today. but they are still less than a quarter of what they were 20 years ago. at that time, ge was one of the most valuable companies in the world. >>> wholesale inflation ticking up in october fueled by higher vehicle and gas costs. prices rose 0.6% in line with expectations over the last year producer prices were up 8.6% that's tied with the all-time high set last month. >>> comcast xfinity

julia boorstin. >>> finally today, a huge drob for zillow ahead of earnings today. stock now down more than 12.5% on reports the company bought too many homes to flip and now trying to offload them zillow down 35% this year and down 60% from its 52-week high dom chu is standing by people online, people love to find sale, zillow sales they think are going for penniesing onned dollar to make this point about whether the business model is going to work in the long run? >> we used to talk about it as the idea use zillow as an information source right? go on to see how much i think my house could be worth how much my neighbor's houses are worth. all of these stories about how many homes zillow algorithmic artificial home buying purchased now less than they paid for them is staggering. considering this is the hottest housing market since before the great financial crisis back in '08-09 analysts at keybanc tried to put solid numbers in context around what it could cost zillow. an sliced 650 of the houses zillow has in inventory now and found 429 of them were below purchase

i'm deirdre bosa with carl quintanilla and julia boorstin jon has the morning off. today qualcomm surges. plus earnings take two and etsy. then, ford wants to beat tesla at its own game. the cfo will break down the $30 billion spending plan this hour. later, the case for why apple is the most overpriced tech stock out there, carl. >> first up, our feed will start with qualcomm today. big earnings beat, strong guidance, 56% rise in smart phone chip sales powering those shares up almost 12% today turning the street bullish, too. goldman ups to a buy this morning, says there's still a 40% upside to the stock. piper moves qualcomm to its top large cap pick also overweight and takes its price target to 190. we talk to christian earlier in the 9. take a listen. >> by all accounts our diversification strategy is working and it's working because at the end of the day market is winning with a road map, winning with technology. if 38%, you know, doesn't indicate that the diversification is really working, i don't know what does. the important thing to answer your question is

i'm deirdre bosa with julia boorstin and carl quintanilla. why shares of tesla cratered earlier and why it's coming back this morning. >>> then, reasons to be bullish on software. fresh buy calls on salesforce, work day, adobe and more plus deutsche's gold standard in cloud. >>> and later, why those shares are getting fresh this morning, carl, chegg on their face. >> we'll start with tesla on quite a run. closed 8% up yesterday now giving some of that back after some mixed messaging from elon musk on twitter phil lebeau has all that hey, phil. >> hey, carl that mixed messaging is the reason for the stock being down, what, almost 50 bucks earlier today pre-market it came back a little bit. now it's down what about 20 bucks or so, 30 bucks right now on shares of tesla here is where this started last night elon musk tweeted when asked about the hertz deal that this was not a signed contract yet, in terms of the 100,000 model 3s that will be going to hertz as part of an agreement that was announced last week. well, we reached out to hertz this mo

julia boorstin in los angeles. jon fortt is in d.c. and deirdre is off today elon mask uses twitter to decide and looks like he may dump a big chunk of tesla stock the real reason behind that sale next >>> then we seriously consider bitcoin hitting 70,000 another surge for crypto takes its total evaluation to above 3 trillion later, paypal expectations, software pops and walmart's walle for delivery first, breaking news out of the fed. let's get to steve liesman steve? ♪ >>> carl, thanks fed governor is announcing he has submits his resignation and it will be effective at the end of december. he joined the fed in october, 2017, as vice chair for banking supervision. he ends his four-year term as vice chair in october. that ended and now he's on the board. this highlights four jobs that president biden has to fill or will have to fill in the coming months we'll count them, the vice chair supervision, vice chair for the federal reserve board, his term ends in january, of course there's jay powell, his term ends in february as chair. an

thanks, julia boorstin >>> let's look at virgin galactic, poised to report a second quarter with any revenue. shares back to earth last month after they delayed the start of commercial space travel to late 2022, down more than 17% year-to-date morgan, such a busy space with so much excitement this year let's talk about what you think is important to watch in this earnings report. >> yeah. i think the big thing to watch is going to be revenue as you mentioned. this will be the second quarter potentially where you are seeing revenue growth year on year. here is the key. after q2 earnings, which was also in the midst of that major space flight, that test flight for virgin galactic in which the founder of the company was on board as well, got so much attention, triggered a $500 million share sale as well you saw ticket sales open, and open at significantly higher prices so starting at $450,000 a seat, which is about double what the first 600 people in the backlog right now, looking to get on board virgin galactic space flights in the future, actually paid that is going to matter. also, t

boorstin's got that for us julia? >> wolf, shares are up about 1.5% after the company reported that paramount plus had its most successful week ever that streaming service adding more than 1 million new subscribers. that is a record for new total signups since its rebrand. it also set new records for hours stream so, seeing some traction there with that streaming service rebrand. and the stock now up 2%. guys >> a lot going on over there >> we were wrongly suggesting it could've been "yellowstone." and mike santoli pointed out that that actually wasn't on paramount plus but thank you for filling in the gaps for us. >> big red dog causing a pop >>> we'll get reaction from an analyst who thinks this stock can rally 40% from its current price. as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise

julia boorstin in los angeles. jon fortt is in d.c. and deirdre is off today elon mask uses twitter to decide and looks like he may dump a big chunk of tesla stock the real reason behind that sale next >>> then w

julia boorstin has them. die y diana olick is tracking that julia? >> we'll start on theater stock just they are plummeting the furthest in the space and amc shares falling 7.5%. social stocks are suffering. twitter down the most of the group. shares down 4.5% that's of course dragged down to 52-week low today following the news of the new ceo. snap down 4% and facebook now meta is now down 3.5%. pinterest which could benefit the most from another covid wave is down the least less than 1% the streamers were considered stay-at-home stocks and suffering today. netflix down nearly 3% vimeo down about 4.5%. despite the fact that it would also benefit from a hybrid extended work situation. iac shares, a share stock in the green, up 1.5% i want to point out electronic arts now in the red. activision blizzard down over 2%. >> thank you travel stocks are hit hard right now on the omicron fears seema mody with a look at the biggest movers. >> it is too early to understand the impact on travel hotel occupancy around 61% recent weeks experts are leaning on past

welcome to "techcheck" i'm carl quintanilla with jon fortt, deirdre bosa and julia boorstin. today disney disappoints sending shares lower this morning. >>> then out with the old and in with the new inside $90 billion valuation for

julia boorstin joins us now with the next frontier of music julia. >> melissa, music is making big moves in metaverse as well, as artists perform and sell their merchandise virtually. they've invested $80 million into 14 virtual music companies. up from $50 million last year, and $200 million invested in 2019 the vast majority of that investment is just one company, now waynexr has invested justin bieber, scooter braun and lex r alex rodriguez it turns artists into a digital avatar that can interact with fans' avatars. and just announced that justin bieber is performing next thursday, not in vr, but as people buy headsets they plan to transition into a fully vr immersive world. >> it's not about the experience, but leveraging these technologies like wave xr to bring artists closer to their fans and let them interact in new ways >> now, public companies are betting on this cutting-edge space. warner music group has invested in wave xr you mentioned roblox earlier it's been hosting concerts including an electric versus of the baby concert last month. and guys, the most popular, lil nas x,

boorstin has a look at the next frontier for music distribution julia? >> artists no longer need to rely on music labels at gatekeepers to get the songs on the radio or sell cds. now they can use new tools from music start-ups to release music. they poured $112 million into distribution platforms this year, up to $16 last year and nearly $45 million the year before a leader in this space is united masters. it closed a $50 million series "c" and $550 million valuation in addition to distributing music, it sells rights for use in ads and merchandise and with nfts. >> this is happening around the music business where artists are finally taking control back of their career and then another generation of artists that don't want to be with a record company and own the rights, be fiercely independent because independence is the future. >> other companies help artists to release music like tunecore and cdbaby there's public stocks betting on this new independent music e cosystem shopify and the social platforms are key to this ecosystem as they sell their mercha

julia boorstin with the numbers. >> sara, disney missing analysts' expectations on the top and bottom line and also in terms of those streaming subscriber numbers earnings coming in adjusted 37 cents per share versus 51 cents estimated revenue's coming in at 8.53 billion total disney plus subscribers 118.1 million. analysts had been expecting 125.4 million. just to dig a little bit more into that disney plus number, subscriber growth was warned that it was going to slow. and the company added 2.1 million disney plus subs one area that was better than expected in terms of subscribers for the streaming services was espn plus. they added 17.1 million subs versus the 16.4 million estimated. and in terms of average revenue per user, disney plus average revenue coming in a little bit less than anticipated. though espn better than expected seeing a little bit of strength there in espn plus to look at what was behind that shortfall in earnings, disney parks, experiences, and products, that operating income 640 million. it was expected at more than 900 million. so it appears that in this first

let's bring in julia boorstin who joins us with crypto.com ceo kris marszalek >> kris, thank you so much for joining us to talk about this very big deal right here in my home town of los angeles the big question $700 million. why does it make sense to invest so much in these naming rights >> thanks for having me, julia we have 100% conviction. this is a work line investment one of the world's most iconic venues and we are excited to partner with aeg in l.a. and it comes at a time when crypto currency is going main stream and changing the way our entertainment and sports work. so i think it's a sign of times and a fitting name moving forward. >> certainly a sign of the times. i thought it was interesting that in addition to the naming rights, you're also going to have a 3,000 square foot crypto activation space what does that mean and how do you expect to use this arena as a way to educate and bring on more customers >> i think the reason why we were the topic was through hard work and staying humble, we earned a reputation for engaging with fans and through our previous partnerships we h

joining us, julia boorstin with more >> thanks, kelly, mark thanks for talking to us on the heels, better than expected results, concession spending stronger than expected give us a sense of what you're seeing so far in the fourth quarter, what expectations are going into 2022. >> julia, it started in october with the best month we had lineup of films between now and end of the year is lining up to be extremely strong. obviously the virus is starting to wane down, vaccinations are going up therefore people's confidence coming back to theaters is high. we are seeing very good strength in the box office across multiple demographics. >> mark, it is interesting the movie business is emerging from the pandemic, very much transformed. some doing simultaneous releases, many shortening the window between theatrical and at home release i wonder how concerned some people aren't going to theaters as often as prepandemic. >> we don't think that necessarily will be the case really what's holding people back was confidence because of the virus, so as that wanes, and secondarily, content typically 45 da

. >>> welcome back to "techcheck" i'm carl quintanilla and julia boorstin and john fortt. dow continues to get weighed down by financials and tech helping to lead things higher at the nasdaq let's get a news update with rahel solomon. >> hi, carl, good morning. here's what's happening at this hour renewed covid concerns out of europe pushing oil lower european stocks and even u.s. bond yields all getting hit on austria saying it will go into nationwide lockdown starting monday and that vaccinations will be mandatory starting february 1st germany's health minister says his country is in a national emergency although the country's finance minister has ruled out a full-blown lockdown. >>> the fda giving emergency approval for adults to get covid booster shots. all three stocks are moving higher cdc does need to endorse the move >> boeing shares are slipping more than 4% "wall street journal" reporting that the company is slowing production of the 787 tremeliner to address problems withdoors on the jets leaders of the key house committee also asking for review of faa oversight

i'm julia boorstin nasdaq trading around all-time highs. more on that in just a minute. but, first, let's get a news update with sue herera >> hi, julia good morning, everyone here's what's happening at this hour pfizer shares up 9% this morning. the anti-viral pill for covid patients cut rates by 90%. pfizer shares are now up about 80% from their march lows. the u.s. economy added 531,000 jobs in october, significantly more than expected revisions to the previous months added nearly a quarter million more jobs, as well the unemployment rate sank to 4.6% president biden says unemployment is coming down far more quickly than expected >> before we pass the rescue plan, forecasters said it would take to the end of 2023 to the end of 2023 to get to 4.6 unemployment rate. today we've reached that rate two years before forecasters thought it was possible. i would humbly suggest this is significant improvement from when i took office and a sign that we're on the right track. >>> and canada goose shooting up 16% after posting a surprise profit for the quarter the winter wearmake

boorstin for the story. welcome to you both. julia, disney has become almost a punch line, disney plus with this issue about its offerings >> well, look, disney plus had been growing so quickly and bob chapek warned growth in this quarter, the fiscal fourth quarter, would be in the low single digit millions. analysts are anticipating it will be like the addition of 9 million disney plus subs so we have to see how it shakes out. that will be in focus. other areas to watch include the theme park division, how fast that division is rebounding and what the sense is of how much the rebound is going to continue into next year and then also, of course, sports disney has spent so much on sports, are they going to be investing more and what is their plan in terms of espn moving more of the rights on to espn plus, kelly. >> delano, what is the trade here >> i think the trade is to hold. as jewel yu mentioned, the big things investors are looking at is theme parks and experiences growth to offset the slowdown in growth

julia boorstin has more. what are we watching for >> i think, kelly, it is really this struggle between two things on one hand we expect enterprise spending to increase significantly, and on the other hand the question is how much are the supply chain issues going to weigh on results. we got warning in the company's last quarter that they were seeing shortages of certain types of chips, but one thing that could work to the stock benefit is that that might already be factored into estimates and expectations for the quarter. so that's going fob the key struggle at play here. then, kelly, just want to point out some other key things, that the company has really been pivoting to focus on recurring revenue streams. that makes it a lot more predictable. in the prior quarter 80% of software sales were from subscriptions. the more chips over there, the more predictable the revenue becomes. also, this is the first quarter in which cisco is breaking up its divisions into seven new divisions. so services and products in

welcome to "techcheck" i'm carl quintanilla with jon fortt, deirdre bosa and julia boorstin. today disney disappoints sending shares lower this morning. >>> then out with the old and in with the new inside $90 billion valuation for rivian shares pop post ipo. >>> bumble's shares are down, firm's weigh-up and under the radar gaming play that investors are loving this morning. we have the ceos of all three all on earnings all this hour. >>> we'll start with disney, a significant slow down in growth for disney plus. julia spoke with ceo on the heels of those results last night. has some highlights on what julia is the worst one-day drop for disney since june of last year >> yeah, that stock down more than 7.5%. well, carl, there's a big focus on disney plus subscribers that number grew by 2.1 million in the quarter that was in line with ceo's warning he gave back in september. but it was some 10 million less than the number the company added the prior quarter. but bob told me that the company is on track to hit its 2024 targets and that it's counting on international growth. >>

julia boorstin, always good to see you. thank you. becky. >>> when we come back, thanks, andrew an interview with s sofi ceo anthony noto. next the infrastructure deal is a done deal. what about president wide ons build back better? we will talk after the break what representative john yarmuth sees amanghes ki t final cut stay tuned you are watching "squawk box," and this is cnbc so, you want evs, you have come to the right place. is that tom brady? yeah. he comes in to recharge, get software updates. you know. let's go! every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering p

julia boorstin with more julia? >> for disney plus day the giant is pulling out all the stops with a discounted entry deal and premiering 25 new pieces of content. two new series and 40 new series and movies coming soon disney plus notably extending the appeal outside of the app with perks at the theme parks such as a 30-minute entry and photo-opes and in terms of product subscribers get free shipping at shop disney. disney is looking to make the subscription more valuable and grow the direct relationships with consumers both on screens and off. guys >> thank you so much thus far not delivering share price improvement this week. let's discuss and bring in kay koplivitz of usa networks. thank you so much for joining us firstly before getting into today's news were the sub numbers disappointing enough to warrant the share price fall we saw? >> in today's market you find an overreaction to the marketplace so it was a bit of an overreaction was it was a big miss and i think people are looking forward to the numbers they

julia boorstin spoke with bob and joins us now hi, julia. >> that's right. disney missing on the top and bottom line and disney subscriber growth of 2.1 million, 7 million less than projected but the ceo saying he is confident that the company will hit the 2024 targets in part by investing in international growth >> we are making a substantial investment in local content. we believe that we offer a tremendous price value to consumers around the globe, and all of the research indicates that and think we have head room for the pricing in the future. >> all three quarters of analysts with a buy rating on the stock. there's cautious notes today focusing on the cost of what it takes to ramp up content and meet the targets you can find more of the interview with him and the thoughts on sports, theme parks and the meta verse on cnbc.com. >> great stuff thank you. what is your take? overdone >> i don't think so. the stock's trading at 38 times and the whole reason why it trades at 38 times is because the streaming numbers last year so much bettser than expected and

i'm deirdre bosa with julia boorstin and carl quintanilla. why shares of tesla cratered earlier and why it's coming back this morning. >>> then

. >> wpinterest, julia boorstin? >> pinterest beating on the top and bottom line and the monthly active users falling 28 cents per share 5 cents better than estimates. revenue coming in $2 million ahead of estimates and the key monthly active user number a decrease to 444 million. the estimate for 460 million instead of adding 6 million mothly active users the company lost 10 million in the quarter so effectively a 16 million user shortfall than expectations. in terms of guidance the company expects the revenue to grow and operating expenses to grow quarter over quarter and providing more guidance on the call they give insight into the monthly active user number saying that u.s. users 89 million in line with where they were at the end of the quarter and globally 447 million so indicating that they did manage to grow the maus by 3 million over the course of that first moft of q4 but it is that u.s. monthly active user number back over to you. >> stock having a pop there after hours. thank you. it is beaten up lately l

julia boorstin is here with more hi, julia. >> morgan, netflix announced the third quarter earnings and sh shifting of accounts that watched minutes and to hours and giving transparency to what is working. it just laurmged top ten.netflix.com and update weekly on tuesday with hours viewed from the previous monday through sunday right now "red notice" is dominating the english language film list with 150 million hours viewed most popular tv series "is mexico season 3" and netflix saying people want to understand what success means in a streaming world and these lists offer the clear oes abc to that question in the industry of course another benefit of this netflix says they hope more people look to the list to find new things to watch. it is all about putting more eyeballs on their content. >> yeah. definitely it is interesting because this is something netflix and really everybody else in streaming is grappled with which is the fact that traditional rating systems don't necessarily apply here so is this to cater to more investors or subscribers or talent since some of those pay packages

julia boorstin >> earnings estimates beating. revenues coming in a bit short 19.62 billion versus 20.19 billion estimated and signs of strength in the company. reporting postpaid net additions of 1.3 million, the best in the industry they say. 1.3 million number, the analyst expectation is 1.23 million. so surpassing expectations there. the company also crucially here raising the third -- guidance for the third consecutive quarter. saying that their record high service revenues grew more than 4% and pointing to other areas of strength. the stock is trading pretty much flat in after hours. guys >> thank you there after the initial slight decline. the ceo will be joining us just moments from now to discuss the results ahead of the analyst conference call. what is your take on t-mobile? >> what i was expecting is that or at least what the market was expecting and the stock down 20% since july 1 is shared gain was going to abait, particularly when we saw at&t crush the consensus with 1.2 million postpaid ads so i think that this is a

i'm deirdre bosa with carl quintanilla and julia boorstin jon has the morning off. today qualcomm surges. plus earnings take two and etsy. then, ford wants to beat tesla at its own game. the cfo will break dow

julia boorstin has the details on that group. hey, julia >> that's right. the streamers are rain stocks in the green. netflix shares up more than 1 and roku shares up more than 1.5%, streaming music player spotify, that stock gaining half a percent as well. now, also we want to take a look at two social stocks, pintrest and snap they both took a leg lower after their earnings reports, but today those stocks are both in the green. pintrest, up over 1% meanwhile, those concerns about a new covid variant sending stocks that benefit from the reopening plummeting live nation shares down 9%, though the concert giant is still up over 40% year-to-date, and those theater stocks giving up some of the recent gains. we have amc entertainment down over 3%. >> guys, back to you >> we will pick right up there for more on the covid impact on movie theaters let's bring in mookie >> what is your reaction to the news we woke up today about the new variant from south africa. >> hold on. measures need to be taken, but everyone says that it will take at least a few days until we

market not liking it julia boorstin with the numbers. >> market not liking it at all you see that stock plummeting in after hours trading. the company beating earnings estimates, 48 cents estimated revenues falling shorter than expected, missing estimates by about $3 million there were a couple other key factors weighing on that stock, including revenue guidance the company guiding to $893 million as the midpoint of q4 revenue versus estimates of $944 million. so that's a key factor weighing on the stock another key thing here is that active accounts fell short of expectations, 56.4 million instead of the 56.7 million expected average streaming hours also less than expected at 18 million instead of 18.3 billion, average revenue per user in the quarter did beat expectations, topping $40 for the first time but it really does seem to be that revenue outlook that is causing the stock to plummet more than 10% in after hours guys, back over to you >> thanks so much for that one down 10% meanwhile, fiskers numbers are also out phil lebeau. >> take a lack at fisker this is a prerevenue company

twitter's ceo founder jack dorsey replaced as the head of the platform julia boorstin joins us. she will look at what's next for twitter. >> reporter: with dorsey out the attention turns to the new ceo he's been there since 2017 the question is what are his chances of hitting aggressive targets. in february, twitter says by the end of 2023, they have active users into double the total annual revenue from back then. but this past quarter, the company's 211 million daily users was up 13% from a year earlier. it added just 5 million from the prior quarter and twitter didn't add any new users in the u.s. at all. the j&p securities saying quote by appointing its cto, we believe twitter has continuity with it existing product roadmap as it continues to work towards its goal now with twitter shares down about 25% in the past three months, the pressure is on for a handful of new products. the first is topics with engage him enable brands to create more personalized ads then there is also shopping it's the company is investing in ecommerce capabilities and partnered with walmart ahead of