the company went into bankruptcy and adam neumann try to buy it out of bankruptcy. in itself was a great twist in the story. where things stand right now is wework seems to have struck a deal with some of its existing lenders and bond owners that would give it much needed cash. and it would allow them to come out of bankruptcy. it would be a different company then it was even two years ago. the company had more than 14 million square feet of rented space. that goes down to roughly 20 million. it is a very change the company. softbank was one of the early initial bankers. the relationship with adam neumann was stuff of legend and softbank is still plodding along trying to extract whatever it can from the massive amount of money it put into the company. host: softbank would still own a portion of wework under the deal according to our reporting. softbank would receive at least 16.5% of wework and their share could increase to as much as 36%. why does softbank want 30 six percent of wework at this point? >> because of the amount of money they put in in the first go aro

adam neumann joins us now, along with deidre bosa who is in ft.derdale, florida for flow's initial launch. deidre? >> tyler, thank you very much. adam, sit nice to see you. thanks for welcoming us here for launch day. you're launching your new venture today, flow. i know you've been heads down over the last few years concentrating on developing it. i want to get into we work, which i know you're trying to buy back. but i thought we might just address the elephant in the room. some people might be surprised to see you on our screen again. what are you going to do differently this time around? >> first of all, thank you very much for coming down here to flow ft. lauderdale. it is an exciting day for us. but let's start with that. we built a global brand, we had over 10,000 employees that were so passionate. we helped redefine a category in every single thing we did had to do almost anything and everything with community. i am the kind of person that learns more from their mistakes than from their successes. so all the great things we did in the past

and fresh off my interview with former weworks ceo adam neumann, i would ask him if he would invest int new venture. we begin with dom chu and the numbers. we are drifting close to the session lows. >> just about there right now, deidre. it's been deteriorating throughout the course of the last couple of hours here, and as deidre points out, session lows right now. i'll take you through the broader cap s&p 500, which is down 75, 76 points, down 1.5% overall at 5123. so, again, this is the session low right now. we were still down 24 points, even at the session highs, so that gives you an idea of how far we have drifted to the downside here. the level that a lot of traders are watching in the s&p 500 is 5111, that represents the so-called 50-day moving average of the s&p 500, the medium term trendline. the nasdaq really pacing the declines here, down 270 points, 1.5% declines, 16,171 for the composite. the dow down 471 pointspoints, . one of the big focal points is in the energy trade. believe it or not, every sector in the s&p 500 is lower right now, but energy is outperforming, only d

and adam neumann joins us at 1:00 p.m. >>> and we have hotter than expected cpi report yesterday withff across the board. we have bob pisani with more. >> frank, the reflation trade is back. a strong economy with earnings still strong, but inflation sticky creates a tricky narrative for investors. this is a tough environment for small-cap stocks and reits and utilities. higher rates are bad for reits. it is bad for utilities because when rates rise, treasury bonds are more attractive due to higher yields and higher rates mean increased borrowing costs for yo utilities. if utilities cannot pass on the higher costs, the equity investors have to suffer. some sectors may do well in the environment. the keys to the economy has to stay strong to prop up earnings. reflation trade means a focus on cyclical stocks, include energy, material and hospitality stocks. energy and material stocks have been rising due to higher oil in a still strong economy. other beneficiaries of higher rates are defensive stocks. i'm talking about kroger or walmart. another group that might do well is insurance stoc

neumann is not involved.et's get a market check. they are tentatively higher. we got the fed, the dollar still lower versus japanese yen, a big market move, and maybe we see some boj intervention that has so far remained silent from japan, and it is indeed muted amid a holiday trading session. let's look at what is happening on individual names. i want to show what happened in europe, because they just finished trading in europe, atos of 18%, the french government potentially stepping in with a bed for the i.t. company -- bid for the i.t. company. it has to avoid insolvency itself come up more than 18%. ses, the two funds we could see when it comes to all-important views on the coming together of ses and intel. when we once again think about a merger in these satellite businesses, the deal failed in previous attempts to combine, but we could potentially see a revival of discussions. down from 10%. remember, intercept is private. microstrategy is doing all right, and it has done particularly well after being a

neumann.provide $450 million in financing for exchange in equity. the deal would see wework exit in the coming months. paul: we heard from samsung earlier and south korea's robust first-quarter earnings and initiatives are fueling faith in their stock market. how has korea's earnings season been so far compared to its peers? ishika: yeah, just for some context, foreign funds have poured about $1.7 billion into the south korean stock market in april. a stronger dollar. looking pretty good for the stock market. most other markets have seen -- the earnings season is a big driver for this optimism. nearly 70% of the companies that have reported earnings so far have posted better-than-expected results according to goldman sachs analysis. of course this morning we saw samsung adding to that with its big profit beat and returning to profitability for the first time since 2022. you also have industrials and consumer staples firms that have beaten estimates quite nicely. some examples are dim sum -- sa