it is 8:00 a.m. at tesla headquarters in california, 11:00 a.m. on wall street. "squawk alley" is live ♪ ♪ ♪ ♪ good friday morning. welcome to "squawk alley." i am jon fortt, with me at post

9, mike santoli, david faber carl and morgan have the morning off. the sec is suing elon musk, alleging fraud and saying he issued false, misleading statements musk tweeted thinking of taking tesla private at 420 funding secured. joining us, founder of inside.com and early uber investor and andrew sorkin andrew, i want to start with you. musk says his intentions were pure in all this, that he would do it again if he had the tweet to do again, he has said that. what does the sec have to prove, what's your latest reporting >> my latest reporting, david faber has been reporting on it is that a settlement, the bird was in the hand if you will, yesterday morning there was a settlement ready to go

it would have included i would describe as cosmetic, it would have included a no admit, no deny settlement. you would not have to accept any real sense of guilt which would help the company in terms of liability for class action lawsuits from other shareholders he would not have been chairman of the company for two years but could have remained as ceo and on the board they would have added two independent directors and there would have been a monetary fine paid by both tesla and mr. musk, so the question at this point is not about his intent that's part of the claim, but the real standard is whether he was reckless and that's a much lower bar. the question at this point is can a settlement get back on the table. is that a possibility. if he were to lose this case, what does it mean for tesla and tesla shareholders, for spacex,

their employees and shareholders as a private company, with ambitions in the future to go public what's the ability for tesla to currently raise money publicly what happens to the boring company. there's a lot of pieces to the puzzle that have been thrown into the air that yesterday it seemed like had a deal been taken, there would have been an ability to some degree for the company and everybody else to move on and deal with other challenges >> fair to say you're a tesla fan. do you think elon musk should have taken the deal and either way, how do you think he fixes this now >> yeah. i am the least objective person you can have on, i am friends with elon since before tesla, i own every car and love them and am a super fan this is a challenging situation. i think in elon's mind, he met with the saudis, they offered to

take the company private, built a 5% multi billion position, and that to him meant they were committed. he took them at their word this is me guessing on the information we have. and i think it is not unreasonable so he probably feels this is a reasonable position. if you went to ten different sovereign wealth funds, norway, apple, google, anybody with 10, $20 billion in cash sitting there, they would all want to take tesla private i think he felt like he did it the right way. they're saying there should have been a written document, and the board was caught off guard according to the report. the sec is in horrible position. they don't want to destroy tesla or take out america's greatest ceo active now since steve jobs.

great reporting by david, seems like there was a reasonable settlement there elon is principles, sec wants to have things buttoned up. my guess is they're probably talking because you have to. you can't take america's greatest ceo out of the game and america has to think what's in the best interest of steak holders. his in -- stakeholders >> even if you believe exactly what you just said, the conundrum becomes now that elon musk was the one that didn't accept the settlement, if you're the sec, you can't back down from where you are today the settlement is going to be no better than on the table yesterday. almost inherently has to be worse. >> i don't know if i agree with that

i think both parties have so much at stake that you can't let this go on forever and the great paradox and irony here, pick whichever term you like better, is that the funding secured tweet did any damage, doesn't seem to have done any damage, the sec actions are causing more damage and paradoxically stock goes down 10 or 20%, it is going to be private. that's the likely scenario >> i think that funding secured argument, it certainly was seen to damage the shorts, and david faber, seems like elon musk is putting himself and tesla in position where he is not willing to admit having done anything wrong or appearing to have done anything wrong this settlement, a lot of people think it looks like it would have been a slap on the wrist. >> as andrew and i have been reporting, the main reason he opposed the settlement has to do with him, not the company. that's an interesting distinction, important one he doesn't want to be in position he would not be able to

deny charges great. he wants to stand up for integrity and he believes he acted appropriately at all times, but as a shareholder to think well, chairman, can't be chairman two years, get a new chairman, two new independent directors, he and the company pay a fine that wasn't going to be that large, why you wouldn't take that deal many people are wondering. jason, back to you i'm glad we have somebody positive on, we have a lot of negative or people who perhaps are seeing this realistically, more so than you are nonetheless, why wouldn't you be angry at him for not taking the deal >> he should take the deal he has to take the deal. i think he is principled and probably under a lot of stress if you look at the fundamentals of the company, they produce 3 or 400,000 cars to date. even if they only do 3 or 4,000 cars a week, that means they add 1% a week to the number of teslas on the road arguably they were turning things around, he was ignoring

shorts and focusing on product and customers and innovation, which is when elon shines. it has to be settled i think you can be 100% certain that team elon and people around him are advising him to settle this, focus on what matters. >> my sources would tell you from what i understand on the tesla side that the board and everybody else had been encouraging him to settle, that's what they wanted. now this is out in the public. and as i said before, i think it is hard to get this type of deal, again, almost impossible for the sec not to hold the line and say we offered a deal, you didn't take it, you want to come back for another bite at the apple, okay, but now you have to feel pain. not just an extra director, you're not ceo for the next two

years. forget about not being chairman. and let's be clear, if you care about markets and care about them being transparent, you can't let this situation go. it suggests that every ceo, whether they send out a tweet or press release of what will happen it would be one thing if there was a term sheet and everything but signed. >> if the saudis came in and offered the deal. >> that would be a different circumstance >> they did offer the deal and they did make the purchase in open market of 5%. these are facts. so if they didn't have it in writing, yes, that's a problem, we all agree, but you can't say he intentionally tried to -- >> i take him at his face value that he had no mal intent.

say we accept that say that's accurate. then the question was is it reckless to have announced something that was not in fact the truth at that time even though he thought it was >> gentlemen -- >> it could be the objective truth if that's what the saudis say, if they say that was our intent, we want to take the company public and still would like to. >> guys, this is safe to say not the last we'll be talking about elon musk and scrutinizing what decision he made and its effect on tesla and its investors we'll leave it with you for now. great to have both of you. great conversation have a good weekend. we're sticking with tesla. thanks, guys joining us, jeffrey sonnenfeld, and also with us, 24th chairman of the sec under president hw

bush richard, let me start with you and get to the idea given your knowledge of the institution itself, they had a settlement, he backed away from it from my reporting, how does the sec in your opinion then view that and what is the likelihood of a settlement down the road >> well, i think, david, they would probably see that as another reckless act by tesla. the sec put a ladder up to the limb he is on, tried to give him a graceful way out showing i think fairly clearly as several of your commentators said this morning, trying to avoid worse damage to the company, but they can't stand biy as andrew said, can't stand by have a recklessly false at a minimum tweet going to the marketplace and unlawful acts being conducted like that so can you having rejected it, can you put the settlement back together i think so

probably not going to be the same deal, and every day that goes by, musk makes it more difficult for them to leave him as ceo the first deal would have left that and that's going to get harder. >> sometimes we see criminal and civil at the same time, sometimes we see criminal follow an sec complaint like in do you have any sense having read the complaint the likelihood in your opinion that it could be followed by action from department of justice >> well, every violation of sec rules is automatically a federal crime. the question is prosecutorial discretion, which are serious enough to merit that escalation. you're into a zone where criminal action is certainly possible and everybody needs to be aware

of that because then you're talking thermo nuclear weapons, much greater potential of collateral damage. hopefully we won't get there that's a draconian step, but the facts would allow such one >> jeffrey, he had the settlement, it was there two years stepping off as chairman as we said, couple of new board members added, independent directors. the fact he was able to say no to that, what does that say about the power of this board? >> it is alarming, david as you came out with that, i don't believe it early this morning as we were hearing the deal as you revealed it that was turned down. richard as always is exactly right, it was an unbelievably generous deal. it tells us this board, a strategic plan must be using the jim jones suicide pact

they're drinking the koolaid of the founder. it is completely self destructive as musk himself is we have many brilliant creators. wang laboratories wouldn't exist without ann wang control data wouldn't have existed without william morris goes on and on ed land of polaroid. these brilliant founders destroy their own creation, and how anybody can be cheering on the sidelines saying the sec shouldn't punish this guy, they're the greatest threat to the success of a company, its own brilliant creator. the best autonomous driving that tesla has is this board on cruise control they're doing nothing. >> richard, just to give a glimpse how the sec views it, we had a guest say no investors were harmed by this. somebody paid $379 a share for

tesla believing the ceo just said funding secured on take private deal higher than that. how do you look past that if you're the sec, saying that's semantics, it was a gray area, maybe he thought he had a deal >> well, yes the argument that nobody is damaged when any ceo recklessly or deliberately makes false statements about a pending transaction and substantial premium is nonsense. clearly if you suggest that a 20% premium is funded, about to be made, there will be people that buy on that information then if the stock price later correct, those same people and others will be damaged there's really not any issue here that the statements seem to be false, and the number of shareholders and entire market

was put at risk by it, there's going to be significant damages. the sec settlement by offering the no admit, no deny, at least gives the company an opportunity to defend itself against class actions by arguing some of the factors that were mentioned, that he certainly thought what he was saying was a reasonable interpretation of the history he had seen but if this goes on, they're going to lose that ability to make the defense >> and jeff, as concisely as possible, here we are, a ceo that's shown fair to say instability or certainly behavior, he is under more pressure now, said no to the settlement that many people would have said absolutely to. what do you do if you're a board member now >> the board has to come up with a plan to retain musk because he is so critical to the valuation

the company has, but also con stra constrain him. control his tweet storms, taking on investors, analysts, journalists and other critics, the company is out of control that way, and take him -- he's becoming obsolete, level three autonomous technology doesn't have the systems, the distribution system is obsolete. if they bring in another ceo, mark ford would be fantastic he is dressed up, ready to go. knows more about autonomous driving technology than even elon musk does >> you keep trying to sell us on him. does he really want that job by the way, is anybody going to take the job iffy lon is still in the building? >> mark would take it. if he was in the building. but the board contains him

they should add dro we have six people two of them are controlled by musk they need to add to the board and perhaps remove some from the board, then track mark fields. >> some form of timeout is appropriate here, if you believe jim stewart's excellent reporting, probably in both musk's interest, the company's interest and shareholders' interest doesn't mean he has to be out forever, be an adviser on strategy, science, and after a timeout, may come back in any number of roles. but for right now, the path forward, unless they want a repeat of arthur anderson, and many examples of companies that end up suffering much worse damage than they needed to, if we want to avoid that outcome for tesla, then everybody needs to work to find mr. musk an

acceptable way to stand down some period of time. >> uber is a great model for them by contrast. >> we have to go great conversation thank you both when we return, wrapping up a rough quarter for facebook stock down 14% for the period. on track for the worst quarterly performance since 2012 that's the year facebook went public amazon stock has risen every day, up 5%, and snap hit a record low xtitir of tech analysts join us ne wh the outlook for the rest of the year after the break. feel that? that's the beat of global markets, the rhythm of the world. 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.

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nasdaq on pace for the best quarter, this is more than 30 of the 103 stocks in the nasdaq 100 within striking distance of 52 week highs including microsoft, apple, cisco. guys, good to see you both interesting, a few months ago we looked at this group seemed like everyone was buying faang wholesale, blindly grabbing things. now facebook and google on the defensive. where is your group set up going into the end of the year >> we think that bifurcation that you mention is going to

continue with amazon and others leading the charge we think most investors are waiting until next year on facebook, given the margin in revenue deceleration we went through that with google a couple of years back, stock lagged going through that deceleration everyone believes it is a great franchise, they'll come out of it like other tech leaders have like microsoft and adobe in the past again, that bifurcation i think end. we still like amazon the best in the group, think they have the best drivers again, some ad related names are under a lot of duress. we think around user hygiene, social fatigue, those issues are going to continue to linger into third and fourth quarter perhaps 2019 is a better setup from our perspective. >> tim, how about you. we didn't mention that semiconductor stocks were leaders first part of the year, they flagged a little too.

do you think it remains roughly speaking a tech led market >> well, like anything at some point some things have to start trading on earnings and real revenue. when we start to get to pull back the curtain to see what companies make you see did i r jans microsoft, amd trade on earnings and dividends and return on capital. as the market gets more challenging, you have trade head winds, dollar head winds, the street is starting to bifurcate the group. looks like the growers keep growing, and those that trade on real valuations may find those valuations have been a little stretched. >> how high is the bar heading into q4 for some of the stocks, tech stocks that are running so far to run further

we've got earnings reports in the next few weeks coming out, holiday data that we see from adobe and others about how sales are going. is that going to move stocks higher >> we think again there's going to be some move forward. software has been the leader this year, multiples are off the charts look at what adobe paid at ten times revenue, taken under by private equity two years ago the bar is higher in software and internet right now, facebook trades at 20 times earnings on next year's numbers. not a crazy bar. everyone talks about faang, we favor stories with better valuation that we're advising our clients to look at given the run. i think when you look again at amazon, look out two years, we publish a report, see a $3,000

level a couple years out long haul looks good. >> brent, tim, hold tight. a market flash from dom chu on intel. >> relevant to what you're talking now. intel shares are up near highs in the session, off about 3% because the interim ceo and cfo over at intel have posted a letter on the company website saying a number of things, but the key here is that they believe they will have supply inventory necessary to meet the full year revenue outlook announced in july, $4.5 billion higher than january expectations there were concerns in the chip industry they wouldn't have inventory or supply levels, that supplies would be tightened, constrained. that move is lifting the entire industry up with it. moving to the up side as well. >> tim, obviously market

reaction suggests there's overhang of concern about access to supply here do you think it is going to be some lasting effect on the semis here >> well, certainly should be intel has been on a lot of pressure on failure to make it to the chips there was concern we weren't hearing a lot from intel since the last announcement. meanwhile, amd is out there, on television, almost all over the media promoting being there faster this is a relief for intel and all those people that sell chips on the same chip boards that intel sells. probably good news, shareholders were pretty happy to hear it. >> up 2.5% thank you very much for your time this morning. amd down 3.5 plus percent. the google ceo meeting with

lawmakers on capitol hill. a live report from washington straight ahead on "squawk alley. stay with us

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seema mody has the european close. >> italy released the 2019 budget, and it was not pretty. the budget deficit target of 2.4% of gdp is more than estimated, sets the stage for top discussions with the european union, given the block 3% limit italy benchmark index fell more than 4%, worst day since february of 2016 while the ten year yield hit the highest level since may. italian banks down more than 8%.

banco bpm down 8%. deutsche bank, credit suisse under pressure the prime minister says he is not worried by market reaction to the budget announcement the s & p decision on october 26 will be the next key event for italian markets. analysts are expecting s & p will downgrade unlike moody's which is expected to downgrade italy by end of october. currency market is moving on this euro 1.16 against the dollar for the quarter, look at how the european stocks faired italy the worst performer. germany down fractionally. and broader european stocks index is up by 1%. still trailing the s&p 500 guys, back to you. >> all right thank you. let's head to sue herera who

has a news update. >> indeed i do, jon. thank you very much. here's what's happening at this hour a strong tsunami triggered by a magnitude 7.5 earthquake hitting coastal indonesian city. waves up to 6 and a half feet high swept through, not long after authorities lifted a tsunami warning. officials reported five deaths ryan air workers in germany joining others striking for better working conditions. the irish airline forced to cancel 250 flights tens of thousands of passengers expected to be effected. a study by the cdc shows only 78% of health care workers are getting flu shots. those in long-term care settings were least likely to be vaccinated the cdc announced 80,000 people died from the flu last winter. starting tomorrow, employees at public stores can grow a

beard. the change after a publix petition you are up to date back downtown to you guys. david, i'll send it to you >> thank you, sue. we are keeping an eye on shares of tesla, it is down as much as 12.5%, hanging in there, down 11.5% following the sec decision to sue the company late yesterday or i should say, to sue elon musk and not the company and the price of crude is higher by 1.5% resqwkll" mi up next

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as we have been reporting, tesla shares are down sharply, following the sec lawsuit against elon musk, accusing musk of fraud, making false, misleading statements about taking tesla private, seeking to bar him from running a public company or being the director of a public company joining us onset for where the stock may go, jeffrey osborne. nice to have you here. >> thanks for having me. >> what did you tell clients with the latest and significant development? >> the phones are ringing off the hook, david, really in terms of debt investors are primary callers, where do we go from here

this is a buzzer beater situation in terms of tesla needing to raise capital to fund the 920 million due coming march. looks like production is pretty good for the quarter, delivery problems will eat into cash flow. >> interesting, i am glad you menti mention, trading 84 cents. is that reflective of risk >> too early to say. dynamics can greatly change if elon musk steps aside or generous compensation package allows him to be head of product development so he could be in a position and still get paid but not be in an executive role which is what the sec was seeking. >> yes, they were. >> is your assumption they can still go ahead with a potential debt raise with this unresolved? >> i think debt and equity raise will be difficult. you would need a white knight situation, whether a saudi arabia or chinese investment

partner. if you're an analyst, going to the portfolio manager saying now is the time to get involved, a big leap of faith. >> seems like the clock is ticking on either getting a really clear sense of tesla's productions and deliveries being better than expected, then having more runway than some people think or the board needs to step in more than they have to this point and push a better resolution to the issue. >> looks like the production numbers, there are stories out today, they hit the target for the quarter. that wouldn't be a big surprise, i think the bar was low there. the fact they make their own trailers to deliver the cars, that's what rings the cash register and how they get paid we are monitoring the cash flow positive guidance they have given, i don't think they hit that they're seeking volunteers to deliver cars there's a lot of crunch time as relates to ringing that cash register to bring the cash in the front door. >> you expect they need to raise capital prior to end of the year. >> you have 260 million in

november due, you have 920 million that looks like at least at today's stock price isn't close to 360 that will convert not into stock, so we're assuming they have to raise 2 billion in q4. they still have cap ex nuts and bolts and straight burn which might be a disappointment this quarter, even if production comes in line with guidance. >> why do you believe that will be a potential disappointment? >> the ability to effectively deliver the cars there are stories on social media of people being asked to pay, not getting the car for weeks, delays in delivery, and the fact that they need to make their own trailers is alarming. >> you mention a buzzer beater for the balance sheet and capital structure. next year was supposed to be 75% increase in total deliveries or something. if you look at consensus numbers, it was supposed to be an enormous ramp to profitability. >> model three, that has helped.

we never disputed production run rate it is a question of what's demand can they drive down costs to get to $35,000 price point most cars are 60,000 plus. that's a limited set of demand relative to $35,000 car that people would get that generous tax credit that's also phasing out. >> thank you >> appreciate it >> more on tesla to come "squawk alley" is back after this break

i am scott walker. can the rally keep running through the fall with earnings, trade and midterms looming. how low to tesla shares go now that the sec filed suit against elon musk. we ask the analysts. and our call of the day looking for a $100 share move in a popular tech name. we're going to reveal it, give you the trade. do it when we see you at noon. michael, 15 away see you then >> we'll watch it, scott thank you very much. the google ceo meeting in washington >> pichai was supposed to be headed to a session with steve scalise about now. that meeting was delayed until the afternoon because the house is busy preparing to vote on the tax 2.0 bill

pichai has been playing nice with republicans on the hill all morning. he went to a meeting hosted by the house majority leader kevin mccarthy he is important, not only does he represent a district in california, he could be the next speaker of the house in that meeting as well was bob goodlatte, chairman of the judiciary committee, and that's the committee that pichai agreed to testify before this november. >> thank you for organizing this, thank you to all of you for taking the time. i appreciate getting a chance to be here. look forward to explaining what we do and have a productive discussion thank you. >> reporter: conservatives have been leveling broad accusations against google, concerned they're making donations to leftwing groups, cancelling military contracts, even as they try to do work in repressive regimes like china and russia

and concerned about what they see as anti-conservative bias within the company stop the bias has become a popular hash tag on twitter. today we saw a cordial, polite tone between google and lawmakers. we will see if that carries over once pichai is in the hot seat guys, back to you. >> thank you after the break, intel and amd, one surging, one falling sharply. reverse of what we have seen lately more on the intel ceo leertt and what it means for chip stocks. stay with us

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click, call or visit a store today. welcome back we are watching chip stocks. they have the supply to meet the revenue outlook, the letter turning the market around. amd shares, chief rival in pc chips down 7%, on track for the worst day since late october, 2017 when it fell 13%. joining us for more on that and continued regulatory pressure from d.c. on silicon valley, tom seval. >> good morning. >> intel and others turned a lot of attention to the internet of things versus pcs, maybe turned too much attention toward that, that's part of what got them in

this constraint on supply. has the supply constraint from intel rippling through the mashlgt had impact on iot that -- market had impact on so deployed about 40 billion iot sensors across value chains. this is a vector pretty unstoppable. >> so when you look at the position silicon valley is in now sundar pichai, google ceo, is in washington facing some music from republicans about the way google has treated data and politics how is this different from what we had seen ten-plus years ago as far as silicon valley's role in the world and conversation around data? >> i think with the mass pr

promulgation of social media, the industry is not regulating itself i think the people who are running these companies need to be responsible how many billions of dollars do you need really? i think it's a proper role for government to come in and regulate this. it needs to be regulated and threatens the very roots of freedom and democracy. >> do you feel facebook has not done enough? a lot of people see them as the enemy. >> i think facebook has done nothing but cashing checks candidly, they're turning the other way. they're looking the other way. i think they should be ashamed >> do you think they'll change their behavior >> i think the regulators will force them to change their behavior i'm not really a big government guy. i think there are certain places where government plays a role

and needs to step up its game. >> you think it's appropriate in this case? >> unquestionably. the threat to -- the ability to conduct a democracy, this is before you get to personal privacy issues which are equally as spooky and creepy and daunting this gets to, you know, the ability to conduct democracy and so the regulators are going to have to step up their game and will have to do their job. >> tom, that's the social media side of it there's been an effort to separate it out from search. you now have google being scrutinized and having the ceo there to explain how their algorithm works and whether it's neutral and unbiased is that something every company will have to justify itself and then we're in the world of ai where how are you ever going to satisfy people that it's a level playing field? >> ai brings just enormous

benefits precision health, for example, which will be the largest application of ai. this is just a major technology change going on in this part of the century with ai, cloud computing and iot. when we get into areas like precision medicine, the benefits will be enormous there are also consequences we need to think about this when we think about putting together 50 or 150 sensors out there it increases the surface area available for cyber attack. look at the grid infrastructure. it's amazingly, incredibly vulnerable when we think about health information systems when health providers and health insurers and the government will be able to tell with high levels of precision who is going to be diagnosed with what disease in the next five years, say diabetes or prostate cancer, whatever it is they're going to know things about us that maybe we don't want to know

and what are they going to do with that information. there are implications of this for jobs, for privacy, for cyber security that we need to step up our game congress and the white house needs to do its job. >> tom, i want to ask you about elon musk for a particular reason you are a founder, an innovator. you were early at oracle, worked with larry ellison, who is known to be a guy who goes his own way. you didn't have twitter back then so you couldn't get into this kind of trouble elon musk finds himself in with the s.e.c. how he has conducted this thus far and where we go from here as investors. >> i know elon to be a genius and i know him to be one of the smartest people i ever met and it shows in his accomplishments. that being said i think it's

necessary for the board of directors at tesla to do its job. every now and then these boards do their jobs. >> meaning what? >> we have a situation that is clearly not under control, some behavior not in the best interests of the shareholders of the company and, you know, i'm not certain what it is they should do but they need to manage the ceo there are few people on the planet as gifted and bright as elon >> can they do it? one would think if they could manage the ceo they already would have >> david, i'm not familiar with the dynamics of that particular situation but i think the board needs to do its job. we are clearly seeing behavior that is a little bit out of the box. that being said this is -- this man is a great genius. >> tough situation either way. the board might have been composed differently if they had taken this settlement which elon

musk did not want to take. tom seibel, never enough time with you great to have you. let's get a check on the markets as we head to a break. you see all the major indexes have pulled themselves into the green. the dow up about less than 0.2%. similar for the s&p, the nasdaq as well. you see crude oil up 1.8%. that price has some momentum challenging the july highs around $74 a barrel.

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at the time he made these statements musk had not secured funding for the transaction. to the contrary we allege he had not even discussed key deal terms including price with any potential source of funding. the s.e.c.'s complaint which was filed earlier today in federal district court in the southern district of new york seeks a finding that musk committed securities fraud, an injunction prohibiting him from doing so in the future, civil penalties, discouragement of any ill-gotten gains and a bar from him serving in the future.

>> the stock is down nearly 12%. unclear what tesla does from here >> as we've heard so many people say, the board needs to take control. i'm not sure what that means, jon. >> the stock was lower than this a few weeks ago. it's still just testing the bottom end of its range. >> with that we toss it to "the half." i'm scott wapner is the best quarter for stocks in five years a sign the longest running market of all time is it even close to ending it's noon and this is "the halftime report. bring on october and q-4 can the bulls keep running in 2019 plus, negative charge. tesla falls as the s.e.c. goes after elon musk. we have a top short on the stock and an analyst who says hold the phone. and a bold call on nvidia's next move "the halftime report" starts right now. it is good to have you with us on this friday, the final tr