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♪ ♪ good thursday morning. welcome to "squawk alley." i am carl quintanilla with morgan brennan, jon fortt at post 9 of the new york stock exchange the s & p and dow hit some record highs, up 230 here. original record from january 26. we are higher by that by 20 points boeing, caterpillar, tech outperforming. joining us, henry blodget, business insider ceo talk about the action we are seeing what do you make of this took 8 months, we are finally back to the industrials. >> everybody loves a bull market great. valuations are getting more and more extended. as we know, can last for a lot longer than you think possible >> we had a year of multiple compression. are things expensive in your view >> the market as a whole is tremendously expensive on any

cyclically adjusted metric nobody should be surprised by draw down, hope it happens way in the future and hope it is a new era of valuation >> steve, where are you? >> yesterday was an interesting day. price to sales ratio that just passed what we saw in 2000, so 19 years and it is getting scary. i agree with henry we love for this to ride as long as possible, but it is feeling like it is getting scary >> steve, is it time for another rip good times slide deck out of silicon valley how come more people are worried, sending messages to limited partners, to investments saying we need to prepare for something coming down the pike >> i think we go through waves of this. certainly the last year or so you've see more companies rushing markets to raise capital. we call this through other

people's money, public markets for sure are flush with that today. we're going to continue to see that as long as the markets hold, putting the private sector for sure, telling our companies to top off on capital, if you wanted to raise 10 to 15, maybe raise 15 to 25 for sure counselling our companies to expect air pockets in the next window >> we have quite a number of techs that are not going public, saying next year or beyond >> it is one reason you're not seeing warnings out of the silicon valley firms for them, it is like thank goodness, finally someplace to take these out, get some real liquidity. healthy ipo market is exciting, interesting, dynamic if they're great companies that want to come public, the more the better. >> you have the labor market on fire, right? corporate earnings growing at

20%. there's more talk of repatriot ated profits that could come down the line. what makes you think next year maybe not with growth rates like this year will be good >> the tax stimulus will run out at some point, you have pressure in the labor market. we're seeing stronger and stronger inflation lots of things can knock it down don't make me the bad guy. hope it goes on forever. the big issue is valuation prices are really stretched. the fact there's comparison to 2,000 revenue multiples, every other multiple you want to look at, after the huge amount of -- how did we get so crazy in 2000 and not realize it, here it is not bothering people should worry anybody >> steve, what is the pulse of silicon valley in terms of trade and the latest i realize the apple products that were potentially going to

get slapped with tariffs did as well as fit bit and other wearables, but we're seeing tariffs applied to key chips and other components that are going to i imagine ripple through the tech community >> yeah, i think in general for most startups here at silicon valley they're software based, a little distanced from any sort of physical products, so there's a bit of a buffer there. but i will say we have seen it in connected hardware companies, vendors that are now strapped. i know of a startup that is building innovative technology around the connected car, and their largest contract manufacturer was the same contract manufacturer as dte they were hustling to find a second supplier to basically back fill for a company that's basically on death's door, so i think for sure we are all

watching this. i think the larger issue is we're all sort of free market believers here in silicon valley and a lot of libertarians look at this with real concern that our president is sort of taking us back into the dark ages with respect to trade policy. >> guys, obviously pot stocks are a big story, taking a wild ride tilray had an interesting premarket, all over the place, fairly new cannabis market caused some on wall street to compare the industry to bitcoin or early dot com days. despite concerns, big names like coke and constellation indicated interest in this space because you have been around the block during high flying names, what did you make of yesterday >> first of all, take some enjoyment in the fact we have a pot stock bubble of course we have a pot stock bubble it's great second, how ridiculous that

these have to be canadian companies because americans are so -- we have this puritan cal ideas, five bars on every block but no, marijuana, can't have that this has to happen in canada to talk about the bubble in particular, in general if you believe this is the next alcohol industry, you probably can relatively easy come to the conclusion at some point there's going to be a whole lot of market cap it's a question of who is going to get it and how and how long it will take right now there are a handful of stocks, investors have nowhere to put the money of course you're going to play in this environment. to throw cold water on tilray, at some point every company will trade 20 to 25 times earnings. with a $21 billion market cap this morning, you have to believe that in some reasonable time frame tilray will have a billion dollars of earnings, and because it had 28 million revenue, you have a little growing to do to get into that

market. >> does it remind you of days we would have you on? >> of course it looks exactly the same and it looks exactly the same as the crypto last year when everyone was talking about that and these great stories, crypto is the next big thing, you don't understand, you have to be in on it it is the same we see the pattern again, to add some justification, if pot becomes legal everywhere, it is likely to become a massive industry, a lot of market cap will be created through that >> but steve, where are the barriers to entry here marijuana itself, it is a crop, a commodity. is the intellectual property associated with certain uses of the derivatives here, is there that much profit to be exacted from that? every alcohol brand will jump into this as well as consumer

packaged goods that are already jumping in. >> this is exactly right i think we are obviously here this is -- i think more a reflection of the fact that we are correcting for 40 years of pent up demand and posse of good companies. what we are going to see is a flight to quality in this market and if there are only a couple of companies actually doing it by the book, that's where capital will go. i think that's where the distinction to crypto analogy breaks crypto was exploding and there were a lot of projects funded that shouldn't have, there wasn't the same constraints around number of companies or supply of companies into which you invest this will have to correct, as henry said, has to be some rational multiple of earnings. i am happy to sit on the sidelines and watch it happen. >> henry, to that point, using

tilray as an example again, that stock move yesterday was on the news that u.s. drug enforcement administration signed off on the plan to import marijuana from canada to the u.s. for medical research it is not a product that's going to market, it is medical research are we still -- there are two early earnings to be choosing winners now. >> we are at early innings, seems where we are headed is general pot legalization for everything at some point i don't think you have to stretch to say at some point it is going to be a big industry. but to steve's point, so there will be hundreds of companies. it is a weed, couldn't be easier to grow. >> there will be a lot of folks involved in this >> people will be able to grow their own, not a problem henry, steve, thank you. good to see you both what a story we are expecting news from amazon, they're having an event in seattle where they plan to

announce alexa related devices that could disrupt the home appliance industry aditi roy is watching in seattle. >> reporter: hi there, carl, the company is being tight lipped about the announcement we know on the record it has to do with amazon devices and alexa. earlier, cnbc reported that amazon plans to come out with 8 new alexa devices ranging from a microwave oven could expand to your kitchen and car and home appliance companies, ge and sonos. product expansion means getting more customers into the ecosystem, more data for advertisers, huge opportunity there, and connecting customers to interrupt google search which it has been doing. and they're under pressure in the smart speaker space.

one researchers says for the first two quarters this year, global shipments of google home outpace those of amazon echo jeff bezos said in the recent earnings release he wants alexa for customers. we'll see if that's closer to reality in a couple hours when the event begins back to you guys >> thank you, aditi. coming up, oracle shares rebounded from a quarterly revenue miss eps beat earlier this week we talk with ceo mark hurd about their growth strategy, what's going on in the cloud. two ipos we are watching, elanco and eventbrite. "squawk alley" will be right back

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and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. welcome back espn announcing new numbers for its paid subscription service. let's get to julia boorstin for more >> disney announcing espn plus hit one million paying subscribers in five months since launching. it costs $5 a month, has different content than on espn including live mlb games, boxing, ufc, college football, grand slams, tennis and other

programming. this shows conversion of free trials, validating the direct to consumer strategy a year ahead of the launch of the disney branded service. iger faced questions how much would people pay for additional subscription for context, hulu with live tv that starts at $40 a month hit one million subscribers after launching 16 months ago. and cbs all access which turns four in october has 2.5 million subscribers. espn plus is no direct competitor for streaming sports. cbs has a cbs sports hq but just news and highlights, no live games. and to access fox sports go, you have to pay for tv disney will add more exclusive content and features kevin mayor saying they believe growth will continue back to you. >> julia, smart viewers are

wondering what an interesting exercise this is going to be for disney and their strategy department in terms of pricing in other words, are they pricing to get a big pop in subs and get notoriety or is this for the long term. what does churn look like in a direct to consumer product where it is not a bundle, it is an individual product a lot of questions we don't know >> it is interesting they added this content, continue to add more content and fee features very interesting pricing there, seems possible that $5 could be a sweet spot less than half of what netflix costs, if you get a more popular subscription it feels affordable and it is interesting to think about how this will inform how they price the disney direct to consumer service which is going to launch next year. they said they'll price it less than netflix we'll see if it is in this $5 a month range.

>> thank you keeping an eye on the markets. hitting record highs, first for the dow since january. let's bring in david rosenberg great to speak with you today. >> thanks. >> what do you make of the record highs despite more tariffs between the u.s. and china. is this a situation -- >> what investors have done, they're looked at the latest round of tariffs and taken a cup is half full view. the initial threat was going to be 25% import duty on the $200 billion of goods from china coming into the u.s., and they sort of went light, imposed 10% import duty. then of course overnight you're hearing rumblings that china may start cutting their import taxes for their large trade partners i guess that's a view that

strategically the administration was gearing for something less than a trade war i think it is one of the helpful factors here today don't forget the u.s. dollar is rolling over here. that's breathing liquidity to the global marketplace when you saw the angst of emerging market and volatility a couple months ago, it was predicated on a run away u.s. dollar that's a big story maybe the trade of the green back is dissipating. that's why equity markets are taking it today. >> i guess last week you wrote in due course we shall all find out the u.s. economy will no more be able to fully dekoucoupe from the world than it did in 2008 larry fink this morning arguing

the u.s. decoupled from the western world. >> i don't believe in decoupling in the most globally interconnected economy we have seen in our lifetime, and i was saying that back in 2007, 2008 when the rest of the world thought if it did decouple from the united states, intertwined people call it decoupling, it is a euphemism for lags there are just lags. we've seen when you look at the leading indicators, down 8 months in a row. in the u.s., down 4 months in a row. it is not pore tenditending -- a scene where nominal gdp growth is below 5%, which is a reasonable forecast at this

juncture >> you think you won't see meaningful decoupling and stocks move lower from here is that the argument >> well, the emerging market economies now, the markets have stabilized, interest rates backed up sharply. morris more is to come. never seen it lead to stronger aggregate demand growth. then the other elephant in the room, the fed. remember that fed policy influences the u.s. economy on its own with lags that are long, variable, often insidious. ben bernanke stopped raising rates in 2006. didn't see the full lag until summer of 2007 you have the fed raising rates, will continue to raise rates until something happens, a sharper slowing in growth or something in the financial markets. and next year, the balance sheet

unwind will be $600 billion after $400 billion downsizing this year. i think that liquidity maybe not to the naked eye today, that's going to be a big challenge for the economy and for risk assets as you move into later this year, or 2019. >> david, what are the implications for tech. a lot of big tech names have helped drive the market higher and the argument around cloud and internet and 5g is largely around technology powering economic growth globally that could end up justifying some of the valuations that we see in this perhaps decoupled u.s. market what do you think the implications are for tech with that outlook of yours? >> i think that's a great point. you know the big bet now is a bet on stories growth stocks are performing admirably well in a period we

had accelerating growth. i think the key for the whippy, extensive growth stocks are the extent to which they can deliver growth as the economy cools off. haven't seen that litmus test yet. that will be the challenge for the stocks in the next 6 to 12 months, providing that people still have that long a timer on them i found it fascinating today, great article in "the wall street journal" talking about what's driving the market in small cap growth space are companies that actually are not growing their earnings and companies that have the highest pes are the ones that radically outperformed everybody else. that to me is classically cycled behavior, go back to what you saw in 2007 and highlights i think still what is a very concentrated aspect to the marketplace. remember, back on january 26th at the old high for the spx, 8 of 11 made a new high. this time around today, last i saw only three sectors are

making a new high. health care, consumer it ca discretionary. 8 others are lagging behind. that's a sign of the market with all reference to the ad line, which is relevant today, the breadth of the marketplace is worry some in my opinion >> david, always great to get your thoughts. david rosenberg, chief economist. when we come back, watching eventbrite the co-founder joins us after the first trade this hour. dow hanging in there "squawk alley" is back in a moment elity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade,

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welcome back stocks in the u.s. setting new records. the dow up about 230 points. dominic chu has the european close. >> behind me, a lot of greenon the screen european markets are higher,

driving a fifth straight day of gains. longest win streak since a six day run for the stocks in late july bank and mining dominating the headlines there, doing all of the heavy lifting. brexit and pound are front and center for investors as european leaders continue meetings in austria. donald tusk saying key parts of theresa may's brexit plan will not work, saying it risks the underlying market. the uk prime minister hitting back, saying her plan is the only serious, credible proposal on the table she also reiterated the british government is prepared for a no deal scenario and will not accept a second referendum on the issue. uk is set to leave the block next march and shares of nestle are higher after they put skin care health unit up for sale. the deal could fetch $3 billion. that unit is important, it

includes tsome brands. run by dan lowe. back to you. >> thank you very much we got an open of elanco 35% gain talked to jeff williams a few moments ago about spin off from lily, focused on animal health 8% of r&d spent on medications, antibiotics not just for pets at home but livestock big exposure to the farmer market they try to bring better health to cattle and everything else. >> must haves for pets we'll see like to haves for people when eventbrite debuts. and mark hurd joins us exclusively. exclusively. "squawk alley" will be back.

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i am sue herera. here's your cnbc news update at this hour. authorities say three people have been killed at a rite-aid distribution center in maryland. one suspect a woman has been detained it is unclear how many others may have suffered gunshot wounds we'll have more as the situation develops they're going to have a news conference momentarily. demonstrators in a senate office building to protest

republicans' handling of the sexual assault accusation against supreme court brett kavanaugh. marched to the office of the chairman, chuck grassley, to hold a sit in. japanese prime minister shinzo abe hopes to discuss the future of a trade agreement between japan and the u.s. when he meets with president trump at the united nations next week he was reelected as head of his ruling party in a landslide victory today. and a new government report on health of the nation reveals troubling trends the average life expectancy continues to decrease, largely due to drugs and suicide life expectancy in the u.s. is two or three years shorter than other developed nations. that is not good news. that's the news update this hour back downtown to you guys. carl, i'll send it to you. >> sue, thank you very much. welcome back to "squawk alley. let's get to bertha coombs for a check of the markets >> dow up 244 to a new record,

and the dow is the laggard in getting to record highs. last had a record in january even as we saw in august, the other major indexes hit new milestones, the dow lagged the fact we're seeing it here confirms the dow theory. last week saw transport hit a record, when confirmed by the dow industrial, it is seen as bullish for the market and ironic given the rhetoric we are hearing about trade tariffs. at this point investors are shrugging that off, feeling like that's not going to necessarily be a near term threat, will be some sort of resolution. they're shrugging off higher yields seeing new highs today for health care and consumer discretionary sector, and tech today is bouncing back, leading a real charge among four dow components of new highs, microsoft one of the best performers back to you. >> thank you, bertha

right now, we want to bring in mark hurd, oracle earnings were out earlier this week stocks slipped as revenue fell short of what some analysts were hoping for, but eps came in above where the street was looking. joining us on the phone, oracle ceo mark hurd. great to have you with us. >> thanks, jon, good to be with you. >> so some on the street are turning a bit skeptical of the cloud growth story at oracle because you stopped breaking out as many cloud only numbers, cloud service and support numbers came in lighter than they hoped what's going on here are you at oracle paying more attention to margins and making sure your cloud growth has a level of profitability versus top line you were telling a story in the call about winning deals from the likes of workday, but it isn't what they hoped for. >> let me try to unpack that

that's about 8 questions at a time let me do the best i can pretty rowdy behind you, jon >> sorry, mark eventbrite just opened we will get the viewers an update on how that's performing at the open, but for now, we want to get to your answer on the cloud at oracle. >> sure. i think first on the reporting issue you described, we were trying to align our reporting directly to our strategy, so that we don't report something that isn't the lines of what we were doing as we moved into byol, bring your own license, revenue began to decline, and made a lot of sense to sort of report in line with the strategy we were bringing to market, and that's what we did. second, when you talk about the quarter, i am not 100% sure what you're referring to. there could be some analysts that thought the number was different, but in the quarter

for the time we forecasted versus when we reported currency moved significantly and so therefore if you actually went back to the original forecast and the original currency forecast, we would have beat that number on the cloud and supporting lines, so we felt good about the quarter from a revenue perspective. our view is we beat the revenue but adjusted for currency, eps growth, had record operating cash flows in the quarter. to the last point about what are we focused on, we think we can do multiple things at one time we are focused on the top line and bottom line results. >> okay. so talk about the database growth specifically, larry ellison, executive chairman, founder of oracle broke out database and some innovation that you are pushing i imagine you're going to be

talking about this at open world coming up in a couple of weeks as well. that's a main area of focus for you. it is a big buy for a lot of companies. a lot of companies feel like they have to have it amazon has been talking quite a bit, expect to hear them talk quite a bit in a couple of weeks about the challenge to you in database how is that business effected by some of the cloud challengers that you have and how are you going to continue to fight back. >> first, let me give you numbers and tell you about some prostitution first numbers we reported mid single digits growth in database business the database market, jon, probably grows 3% a year, $40 billion market we have roughly half the market. therefore we gained share again in the quarter we have done that over multiple quarters while there's a lot of talk about this new entrant or that one leaving, over time you see oracle gaining share

that's what we did in the quarter and that's what we reported our database release, probably the most important generational database release is the autonomous database. this is where it is integrated with ai, machine learning that self patches, self tunes it is a position you get your security issues go down, you have higher up time and pay less money. we really never in our history had a database release that had as many business, positive business outcomes as opposed to technology this is a place you get better performance, more up time, you eliminate tons of labor. most of our customers, this is a bigger issue, the amount of time it takes to patch software this can be months for most customers. this release of autonomous database eliminates the need to patch. this is a generational release

for us as we bring it to market. >> the pace of movement to the cloud, you guys are talking bring your own license i think some investors are confused how it works. when it comes to the pace of movement to the cloud and degree to which you are trying to push or not push customers into specific cloud solutions, talk about how that conversation is perhaps shifting or has gotten more sophisticated as different customers have different needs, whether hybrid cloud versus public cloud and pace of movement >> yeah. first let me address the comment about the iol. that's a case you can buy a license and use it on premise or in the cloud it is basically a currency you can move across and we are one of the very few companies that allow you to do that we believe it is an advantage for our customers and what they want and that's why we utilize that strategy. second to your point, i think

you need to divide what's happening in the applications market versus what's happening in the infrastructure and platform market. in the applications market, you have a chance, there's an opportunity now for most companies to modernize all of their systems. start with erp it is company's financial supply chain manufacturing systems, et cetera all of those are going to get replaced in the next several years as companies move to cloud where there's much more innovation, much more work done by somebody else as opposed to by the customer. we're in the very early innings of that market we have a significant lead technology wise in erp went through a ton of our customers that were customer wins in the quarter. that market we think in the next several years will be very exciting the technology infrastructure market you talked a little about that earlier, jon, as you move

further up the stack, meaning from compute and storage to database to other tools and systems, oracle gets further and further differentiated from competition the further you move up the stack just replacing somebody's computer with somebody's infrastructure while interesting, the more you have more technology, more ip, and oracle has always been differentiated doing the hardest jobs best, investing in r&d. the further up the stack to larry's point earlier in the week, that's further differentiated oracle becomes versus our competitors >> we'll see in this cloud season we are expecting news from microsoft, expecting news from amazon with their conference coming, and you guys with open world. we'll see what all you have, investors will be sure to react. oracle looks like it is close to session highs for the day. mark hurd, ceo, thanks for being with us. >> thanks, jon

eventbrite open for trading, up 60% on a day the dow is close to session highs all 30 dow components in the eegrn. we will talk to the eventbrite we will talk to the eventbrite ceo when we come back. yes, this bob barnett in chicago. (john) we were both working on that first network that would eventually become verizon's. back then, the idea of a nationwide wireless network was compeasonable. but think about how important that first call was to our lives. it opened the door to the billions of mobile calls that we've all made in the last 34 years. sometimes being first means being unreasonable. i'm proud i was part of that first call, and i'm proud that i'm here now as we build america's first and only 5g ultra wideband network with unprecedented wireless capacity that will not only allow for phones to be connected, but almost everything-- transforming how we all live, once again.

(bob barnett) as you know, this call today is the first call that we've made on the cellular system.

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general electric sinking again cutting the price target again how low he thinks it can go. brothers nigerian with their picks. eventbrite is up 60% joining us, julia hearts, ceo of eventbrite prices at the top of the range what accounts for the strength >> i think the appetite for a platform like eventbrite that serves the mid market of events, ticketing 3 million events last year is something that's rare. i think the appetite is reaffirming that we have a strong business and decades more to go. >> big news for sequoia, tiger, and for you, big owner what are you going to do with

the money you raise? >> we are focused on investing, whether that's expanding into new categories or countries, that's where we are focused. we have proven we can be great stewards of capital. going to keep doing that >> based on the prospectus, it looks like word of mouth has drawn users to the platform. more than 95%of creators that use it signed up themselves, and those creators that signed up on their own generated 53% of the net revenue last year. the other 5% that requires more service, little more potentially hand holding, resources driving a big portion of revenues? >> about 3% of event creators drove 46% of our revenue, but the 3% of 8,000 unique event creators the way we think of customer acquisition is one model with self sign on being a great strong driver of the organic growth and sales being a

strategic lever for us we go into differentcountries and look at who are some of the most strong event creators in a given category, and then the sales team targets them to bring them on the platform and drive the marketplace effect and spread word of mouth and see a halo effect on self sign on. >> you aren't profitable, not unique for a tech company coming public what eventually makes you profitable, is it scale, raw number of events or efficiency where it doesn't get as expensive to capture and acquire new customers? >> i think it is a great combination of scale and efficiency in 2017 we saw over 700,000 event creators create events almost 3 million events, selling over 200 million tickets with the 97% of self sign on helping to drive efficiency, we have seen nice growth.

we reported that loss, but you can see that path building towards profitability. we generated free cash flow which is exciting for the company and further reinforces reinvestment in growth and driving that scale while maintaining the efficiency. >> what percentage of revenue is north america? >> we have 30% of revenue comes from outside north america, about 70% is domestic. >> fascinating what a ride today. good to see you. please come back >> thank you. >> eventbrite, up 65%. let's get to the cme for the santelli exchange. hey, rick. >> good morning, carl. there's a lot of talk on several topics today i think the three biggies are ralts, t rates, dollar and europe with ralttes, a lot of economiss think it is never good to push higher rates into an economy but i think it is the other way

around i know what the fed is doing, but that's about normalization many economies are pushing rates up you can't have it both ways. everybody is nervous about a flattening curve yield long year 30 year bonds are up exactl it would probably be a good thing, i don't see any issues with rates at this point as long as the economy and j. paul monitor of course how far they go. with regard to the dollar, i really think it's a logistics trade. remember if you take that long-term chart we've had many times going back 30 years, roughly the biggest moves, mid-point is around 95, we went to 97 during the august crisis in the emerging markets, so maybe 93 on the down side. there's a lot of people long in the dollar index europe is complicated. we saw today norway, raising rates, the swiss, they want to keep the

swiss franc basically the ugly duckling, they don't want to make it attractive to investors. the problem is that all of europe, especially the southern economies of europe, pretended they were germany for too many years, that their currency was strong and their interest rate was low and they could borrow and borrow they're all going to pay the price now. but ultimately, italy is who we should monitor, september 27th they have to have all the decisions made for their full budget disclosure. does anybody out there really believe that the new coalition and all their promises are going to stay within the 3% debt-to-gdp, i'm not sure i believe that morgan, back to you. >> it always comes back to italy. thank you. coming up, more on the rally stocks near session highs as they set new records, the dow is up 237 points. we'll be right back.

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this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected.

and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. struggling camera company gopro is launching a new camera in hopes that the product will help the company stay afloat josh sat took with the ceo to discuss. >> morgan, shaky video is dead that's what gopro says about its new flagship camera. hero 7 black priced at $399, comes with a new technology. the company says will make it easier than ever to capture smoother shots go pro stock high they are morning. it's been a tough few years for

the company as we know the stock is down more than 90% from its all-time high i asked the ceo nick goodman about the reports we saw whether the company is for sale. >> we are targeting profitability for the second half of the year and we see an opportunity to translate it into full-year profitability in 2019, so the plan is working >> no talk of the company for sale at this point >> no. >> did it ever cross your mind to pull a michael dell and take this company private >> that's not our strategy at the current time >> while totally not closing the door on the option i wanted reaction to apple's new iphone, which boast stronger water resistance he claimed that's not a threat >> even a smart phone capture technology advances, so does gopro's, but the fundamental use case for a phone is for productivity and the fundamental solution that a gopro presents

is to help you capture and share your active life >> he knows investors need to see his company have a successful fourth quarter. we'll soon find out how much of a hit his new cameras are with consumers, carl, back to you >> what a story. josh lipton. he night not be pulling a michael dell but he's also not pulling an elon musk. let's get a break down, dow is up 243 on an eventful day. dow record high earlier this morning. back in a minute al markets, the rhythm of the world. al markets, but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow.

you set it. nasdaq. rewrite tomorrow.

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. markets heading into session highs, 255, s&p, 22.30 till ray continues to get attention, down 22%, there's been a lot of news, disney with the number, one million espn-plus sub, disney is back to 111. we're don't know what amazon is going to say this afternoon. >> lots of gadgets coming from amazon oracle, even higher.

making new session highs after we talked to mark hurd, up better than 3%, we'll see if the sentiment on cloud turns around. amazon, interesting, subwoofer for the echo >> we had two ipos start trading during this hour alanco and bright, both at double-digit percentages i'm scott walker, stocks are surging, the dow hitting a new record for the first time since january. the big question now -- how high can they fly it's 12:00 noone and this is the ro halftime report. >> we have a dow record. >> the s&p 500 and dow both cross historic barriers. wall street weighs in on two dow components and did the financials just wake up? the halftime report starts right now. welcome to our show today, here to debate and trade the biggest stories of the day jo