name is it a recognition that their business is that bad they need to put themselves up for sale? who if anybody will actually buy them >> yes that's a big spike on rumor. >> for sure. "the exchange" with becky begins now. >> thank you, scotty hi, everybody. i'm becky quick. here's what's ahead. the president tries to ease tensions saying iran appears to be standing down we are following the developments. plus, stocks moving higher despitd uncertainty out there. nasdaq an s&p at all-time highs today. can anything hold back the rally? and then the great defense carlos ghosn gives a very candid and long news conference vowing to clear his name. can he do that after fleeing the charges that he was facing in japan? before all that, let's focus on the markets with seema mody i would not have been believed this last night seeing the futures down 400 points. the reversal today is huge.

>> the intraday reversal and the comments of president trump moving the market saying what iran appears to be standing down after the missile attack in iraq last night it was the comments sending the dow up around 205 after being down 400 points in premarket a record high for the nasdaq and s&p. you can see here falling here now down nearly 4% as those concerns ease up over a possible disruption in the energy market and on that note energy producers, that many analysts saying stand to benefit if there's a disruption in the transportation of oil, marathon, hess and pioneer trading down watching oil prices lower here back to you. >> thank you very much. we begin with a middle east crisis that appears to be pulling back from the brink. overnight, iran launched

missiles markets initially tanked and then recovered after the foreign minister tweeted that the country was not seeking escalation or war. the rally picked up steam after the president addressed the nation here. he, too, eased some fears of further escalation eamon jaifvers. >> reporter: the president spoke to boris johnson today by telephone, not lot of detail of what they discussed other than the middle east broadly and presume that last night's military action by iran was top of the list and of course we saw the president mentioning the uk specifically hoping that the uk backs his approach to the iranian nuclear deal going forward and requesting at the white house a short time that american allies back him up in terms of nato participation in

an effort, not clear exactly what the president wants but one thing from the president at the white house just a short time ago is an emphasis on economic solutions here, not necessarily military ones. here's what the president said. >> as we continue to evaluate options in response to iranian aggression, the united states will immediately impose additional sanctions on the iranian regime these powerful sanctions will remain until iran changes its behavior >> reporter: becky, clearly the united states already has punishing sanctions in place on the iranians, that's part of what's driving the iranian government calculus in all of this is how to get those sanctions lifted or at least eased in the short term and i asked the white house and the treasury department for details on what exactly it is that they'll be sanctioning they say they may have additional details this

afternoon. >> all right eamon, thank you. in the meantime, will the sense of de-escalation last or is this just the calm before the storm? let's bring in michael o'hanlon at the brookings institution and paul salent at the middle east institute. good to see both of you. there's something for everybody in what the president said i'll never allow iran to have nukes. we have the best weapons and we don't want to use them we want you to prosper michael? >> overall, becky, i certainly liked the message compared to what it might otherwise have been i think it was the logical message when iran signaled it didn't want escalation by probably deliberately missing any targets to cause civilian or military casualties and logical next step and in terms of additional sanctions, i think that's more for show and

rhetoric than anything else and not that many ways that we the united states can sanction iran's economy, not that i can think of we have comprehensive sanctions already. so i saw this as about the kind of speech you would expect and hope for but still leave it is question of the end game. how do we get out of the confrontation with iran when the demands are maximal? tactically, i think it's a de-escalation and a welcomed one. >> paul, the difficult question, how do we get out of this eventually what's the longer term >> first of all, we don't know if it's longer term de-escalation. if iran intends to escalate against the u.s. in iraq or other arenas, it would logically want to signal de-escalation first in order to cool down president trump and minimize u.s. attention on what they're doing and try to minimize the mass imresponse. secondly, they deaf nifinitely

to establish deniable plausibility if they anything they'll, see, we did our bit previously and this is not us and hard to read what is going on to my mind they have clear two goals. they don't really pursue their emotions but interests and i think they have two clear ones one is their continuing to try to push the u.s. out of iraq that is a very critical play they're using they political leverage and will up it through the proxies, as well secondly, they have an interest in not helping trump get re-elected that might be as they have warned in previous days attacks on embassies or base elsewhere in the region or the world to give president trump several benghazis to deal with so it's hard to say where we are i think the president trump made the very correct statements.

he is trying to deescalate from his end and urgent the united states engage with the iraqi prime minister because while killing soleimani we greatly weakened the hand inside iraq with the government and a part of public opinion and we don't want as a result of the killing of soleimani to be driven out of iraq. >> you know, michael, that's a frightening thought. are we looking at this too quickly and thinking that the de-escalation is here? the markets up significantly on this do you think that this is more of a head fake and the iraqis -- iranians have more planned >> i see no reason for the markets to be happy. a sigh of relief is different from the celebration paul is 100% right and i would add a third iranian objective escaping the sanctions applied by president trump and, you know, quite effectively. i think the gdp shrank 7% last year if the latest information

is correct and probably the iranian hope is that a democrat would defeat president trump in november and be more amenable to rejoining the 2015 nuclear deal or negotiating a sort of mild change in that agreement without invoking the other requirements that secretary pompeo and president trump imposed on iran to sort of be reaquancquainted h the community of nations the iraqi government and our presence there is crucial. the relationship with the iraqis, i think we have to have a quiet, friendly dialogue with them about the kind of u.s. military posture in iraq to still be in both countries' interests and the president is off to a bad start on that. >> thank you both very much. we have a news alert in the bond market right now. 10-year note up for auction. rick santelli is tracking it what are you seeing? >> demand is straight up 1:00 eastern c-minus.

24 billion reopen 10s. really nine-year, ten months second edition to an issue of november 1.8 69 is the yield at the dutch. right up to the end. higher yield, lower price right there. loses some markings with respect to its grade 2.45 bid to cover. about average. 55.2 on indirects. weakest since may. 16.1, one bright spot of direct bidders and the second best of 2019 including, of course, this auction today. 28.7 the percent primary dealers take but considering the fact that 170 yield the laong last night it wasn't a bad auction. probably could have been even a little sloppier. tomorrow will be 30 years, finishing 78 billion in total supply back to you. >> thank you very much.

you can call it the sigh of relief rally the market shrugging off geopolitical risks the s&p and thenasdaq with all-time highs the dow is up by almost 200 points and that comes even when you have walgreens and boeing shaving 55 points off the dow but are investors being too complacent here? let's get answers from nancy tangler and brian beski. welcome to both of you. >> thank you. >> this is not day i thought we would be seeing today based on the actions of last night. are you caught up guard by this? brian? >> hi. >> hi. >> you first. >> no. i'm not. and the reason is that, beblg i can, our theme from a fundamental perspective is u.s. is a home for stability. okay i think the academics have it wrong again. buying bonds and buying gold and buying oil and all this.

we have had the oil recovery in september and then selling that off. >> up a lot. the lowest price we have seen in a month almost. >> however -- a momt if you look at the last several mont months it is a big trading range. stability in terms of earnings remain the strongest in the world here in the united states but most importantly think about this in terms of perspective of a short term point this is day three of trading in 2020 right? adults are back working and after last weekend, when it was really working, so the u.s. outperformed dramatically the rest of the world. gloeblt allocators last year didn't own enough u.s. stocks and now seeing the money flow come back in we are so focused on headlines right now but u.s. provides stability and that trend will continue. >> nancy, you have been long the stock market for a long time

you have concerns that we're due for a pullback at this point. >> i think we are. this is the things need to get worse before things get better we need to see pruning and then another leg. i do think this is much more amal gous to the '90s than the 2000s and we have room to run even still for many of the reasons brian already mentioned and the u.s. consumer, the jobs environment is healthy oil is range bound we are now going to be energy independent in 2020. so that supply keeps the prices within a range that is good for the consumer and i think we are going to see a resur gent in cap-x spending. >> you are not in a position thinking that the trades, traditional playbook is working today. what are you buying? >> well, we are overweight financials, communication services, discretionary and tech and so, if you think about it,

three out of the four sectors really centered to the consumer. the consumer is the strength of the economy and that's not going to change. now, per the point that was made is that this year's return structure is different than last year right? if you go back to the '90s, we thought that 2019 is this generation's 1995. we think, though, next couple of years are a little bit dicier because we're going to see cap-x growth and gdp growth stronger than most people think and then a correction and then the last leg of the 20-year bull market we made will come in so i think that people are massively underweight u.s. stocks, becky, and you want to be in the areas of cash centered toward the consumer and still in financials. >> nancy, you have the most interesting bold move i have seen all day you have been buying shares of boeing over the last few weeks >> yes. >> what do you think just given the headlines today? >> if you looked at the headlines you would say boeing

should be a $200 stock but the moat around that country. >> no alternatives and you will continue to buy boeing planes? >> and the backlog we think they'll fix the max problem. the new ceo is coming in, hasn't officially started but you can see his fingerprints mulenberg allowed the crises to get away from him and morphed and three years from now aqume latting the stock here they'll start growing the dividend again once they get through the cost structure issues and will be happy you own boeing. >> good do see both of you thank you. all right. here's what else is ahead on "the exchange today. coming up, former auto executive carlos ghosn speaks out very candidly. we'll look at what his chances are of coming out the winner in

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welcome back, everybody.

let's get a quick check on oil prices sitting at session lows looking at wti down 5.25%. shocking given what's happening in the middle east but the premium that built in over several days coming back out and wti below $60 a barrel. also, a boeing 737 passenger plane bound for ukraine crashed in iran last night minutes after takeoff killing all 176 people on board operated by ukraine international airlines and released a statement earlier today saying given the crew, error probability is minimum joining us is airline reporter lesl leslie josephson obviously a horrible story so much confusion and the idea that it was happening just hours after the missiles had been launched from teheran into iraq, just a lot of things to kind of put together. >> a lot to put together and also with boeing and one thing to emphasis that this was not a

max plane. the planes grounded since march of last year and this was a new aircraft, three years old. this airline has a pretty good safety record. so that's a kind of odd although things can happen. and there's still a lot we don't know and the pilots said it was strange to lose communication, state news agencies talking about engine failure pilots are highly trained, a very experienced crew. to come in and not be able to sort of navigate the way out of that is very rare. and then zwrjust abrupt nature which it happened. >> it looked like it was taking off normally. >> two minutes after takeoff, that's pretty normal and pilots are -- the ones i spoke to are confused at that -- suddenly lose contact and even if you have engine failure and then start to descend you are transmitting data.

>> iran said they recovered the black box and not sharing it according to reports not sharing it or the information with american authorities or boeing. >> under international law for aviation the country in which the accident or ins tecident occurred are nst gainvestigatin >> good to see you. >> thank you. when we come back, the meatless mania continues with a new player entering the game the stock's been on a run in the last three months so can this move keep the momentum going we have the name and the debate straight ahead plus, a new report shedding light on serious security flaws with tik tok "the exchange" will be back if t in two minutes

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5% new orders up 23% on the dollar and a volume basis compared to a year ago shares of luckin coffee today as they expand in china with vending machines increasing the dominance over starbucks in that country. a nice recovery of the stock of yesterday when it fell let's get over to sue herrera. >> great to see you. hello, everyone. here's what's happening at this hour pope francis asking for prayers as firefighters battle australia's deadly wildfires it came in an unscripted moment with his congregation in vatican city the fires in australia have killed 26 people and destroyed 2,000 homes. record heat and draught are fueling the flames washington state having the opposite problem, too much rain is created mud slides in the western portion of that state. the mud slides are damaging roads and making them

impassable. harvey weinstein back in court for day two of jury selection. if the 67-year-old former movie producer is convicted, he could get life in prison and progress on the fight against cancer the american cancer society is reporting the larngest one-year drop in the death rate on record it fell 2.2% from 2016 to 2017 versus the average rate of about 1.5% researchers are citing cancer treatment advancements and better diagnostic scanning for the decline. back to you. >> that's the best news of the day. we'll take it. thank you, sue. all right. coming up today on "the exchange" -- >> it was the miracle on 34th street for macy's in the holidays meatless mania continues as kroger jumps into the game the stars are aligning for

constellation brands and media mogul jeff katzenberg on his new venture it is all coming up on "the exchange." you can see what others can't. ♪

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here we go rapid fire a few stories that should be on the radar. joining us, robert frank, kate rogers and frank holland ready to go? >> yes. >> all right first up, not much of a holiday miracle for macy's same store sales declined in the holiday season and yet that's good enough for wall street, especially since analysts expected sales to drop by much, much more and a spade of store closings the stock is up, a small boost and of session highs that stock down nearly 42% over 12 months. this was a rough year for the retailers. especially for the mall-based retailers and the department stores within this. >> only in this retail environment is the sales decline 0.6% great news for macy's i was at target on black friday, a different retailer, but even in that store there weren't a ton of people in there shopping.

but the landscape shifted. these mall retailers are forced do to do the steep declines. >> now they open up on thanksgiving running through. it is not the time -- you don't see it anymore rushing in the doors. >> looking at the top line lack of disappointment but the bottom line is going to be where it hurts because you saw all the discounting. i was at a mall in florida and racks of 40% to 60% off right after christmas and tons of this stuff and so what the margin looks like at the end of the quarter is a question for macy's plus they still have over 680 stores and way over stored. >> a double pronged issue, shorter window between thanksgiving or black friday and christmas this year. also all kind of enamored but e-commerce 80% of the people in the malls

are gen-z and there's hope going forward. >> mall rats are back? are you kidding me i thought we were done with that for good. >> i don't think so. the stores gearing the sales to people buying online and picking up in the store. a second bite of the apple potentially. >> going on at target. i think they doubled the amount of people working in fulfill pt th this year. it's interesting to see -- >> target and walmart have owned that space next up, kroger is doubling down on meatless mania, launching a private plant-based line as beyond meat and mcdonald's announced to expand the plt burger and impossible foods stepped away from a coveted deal to supply them kate, plt, plant, lettuce and tomato >> yes the big question for me is when

does mcdonald's get in on this in a really big way and which company does it team up with because it's going to have to have a huge supply chain to be able to service mcdonald's more than 14,000 u.s. based stores so they're doing a test in canada impossible works with burger king they have half the locations of mcdonald's in the united states and what happened yesterday with reuters is interesting impossible is backed away from talks with mcdonald's and then put out a statement -- >> backing away from the backing away. >> we're open to talking to any future potential partners and their ceo said it's silly to go after mcdonald's right now without the supply chain so these wars will continue to go on beyond analysts say is better to work with mcdonald's on a big rollout. >> it's interesting given my fear going into this craze over fake meat was is this a commodity business >> is it a fad >> how do you come mod tiz a

group with nestle in it, kroger in it? all these people are coming in, whole foods has products out there. how can you say we're impossible, beyond, therefore we're different from all the other cheaper products >> the demand is amazing. >> it is. >> something to kind of watch and go through it. >> demand and the investor interest i was actually there with the ceo talking about hoping that shareholders bought the products and people that bought the products become shareholders and might have had a sign to take off and my thing is general mills is an early investor into beyond so they have the capacity, the supply chain and seeing this start to take off, partner with them and now as a crossroads of a great partnership with mcdonald's. >> all of this buzz, it just creates excitement about if and when it happens and if they go full scale right away with every restaurant company to work with them that kind of deflates their own hype i think in some ways,

too. supply chain matters but they're strategic. >> i want to know how they come up with 50 new products. are you kidding me bubba gump. >> what is it and what does that taste like i have no idea. all right. after all that talk about alternative meat, maybe a beer shares of constellation brands bubbling up just over 3% after the company reported a beat on the top and the bottom lines and raising its full-year guidance for 2020 the stock about 4.4% increase. beer sales popped more than 8% thanks to the robust portfolio frank, this reminds me of the mall story i thought beer was a declining asset and that millennials didn't want to drink beer. >> that's the overall thought there but corona is a popular brand and modelo, fourth most popular in the u.s. on pace. they have strong fundamentals in the core business and look at constellation as a growth business they're deeply invested in cannabis and decide if cannabis

at the lows or quote/unquote high. >> well done. >> they have a deal to acquire a smaller cap producer based in the u.s. i'm not going to name it it is such a small cap and they have a vertical integration in place once u.s. legalization happens or if it happens and can buy the other producer and step into the u.s. market also stepping into seltzer and calling it corona seltzer. >> corona seltzer? >> no alcohol in it? >> there is. >> that's a -- >> hard seltzer. >> that to me is stupid. you have a chance to create a brand new seltzer brand and then call it a beer brand this is exactly the consumer buying spiked seltzer getting away from beer and then calling it corona. >> isn't it a stigma of seltzer? i feel like people are turned off by the idea of hard seltzer. >> yeah. i avoided that whole trend this

summer stick with my rose. >> constellation brands ceo going to be sitting down with jim cramer tonight tune in at 6:00 p.m. to watch that. i'm going to call an audible here on rapid fire and change up the last topic we'll talk grubhub instead of tiktok because the shares of grubhub surging on a report that the company hired an advisers for a possible sale. check it out grubhub shares up by 17% today and still down about 30% for the share. shares of uber higher on the news investors may bet on consolation in the industry. what do you think? >> i mean, the uber move is really interesting. >> right. >> we were watching this. almost a 5% pop. >> maybe won't be crushed by competition? >> exactly so many players in this space. the competition's hurting all of the delivery companies and some of the food carriers working with these because you used to

get pizza delivered and now everything delivered what is interesting is that i have heard from rich allison, the ceo of domino's thinking a reckoning to come to this industry and losing money and not sustainable. we also heard from the chipotle ceo and i think clearly consolidation coming and the ceo of grubhub said too many promiscuous diners. >> uber move up is surprising. a smaller money losing company and then get a profit there? to your point -- >> makes sense to stop beating each other's brains out in terms of competition. >> that's the asurvesumption ye see with lyft and uber close to that point but we haven't seen it yet but grubhub is the biggest in an industry that just economically hasn't made sense yet. >> it makes sense to be acquired or buy somebody else if they

could. grubhub grown single digits over the last year. >> who will buy them >> doordash grown 100% maybe even overtaking them coming up, maybe uber? >> you have to get softbank in here. >> they'll buy anything. >> exactly >> all right guy, thank you very much good to see all three of you and, folks, former nissan chairman ghosn saying he did not escape justice saying he fled injustice at the first public peanin fleeing japan what else ghosn had to say is coming up next

welcome back former nissan chairman carlos ghosn speaking more than two hours in lebanon today these were his public appearance and first comments since the escape from japan last week. phil lebeau has more on what he had to say.

>> start the stopwatch now he came out firing we knew he would an right off the bat he made it clear he believes that he has to do this in order to clear his name >> i want justice because justice is the only way i will re-establish my reputation and only way what i have done in my life is going to be recognized to its value and if i don't get in it japan i'm going to get it somewhere else. >> oh, he plans to keep on talking including more next week is what he's saying blaming nissan executives or setting him up today and showed documents that basically he shows compensation approved by the nas san board and he says he is willing to stand trial if he can get a fair trial >> you can expect me in the next weeks to take some initiative to tell you how i'm going to clear my name, what kind of forum i'm going to use to make sure all the evidence will come to the table and that everything i have done be restored

>> watching his press conference, very intently, a lot of penal in japan including investigators. the police raided the office of carlos ghosn's lawyer in tokyo the prosecutor is after the press conference said that carlos ghosn failed to justify his acts, those acts meaning escaping, being on the lam, jumping bail whatever you want to call it carlos ghosn did not go into detail about that today. not a surprise we knew he would not talk about who helped him it is the primary question that people have right now. >> phil, what was the most surprising thing to you? we have been following the story closely. much of it did not surprise me there were new details. >> i thought the most interesting thing is he said, look, they offered -- they approved the compensation of which he is accused of not reporting it he goes, i never received it so they're accusing me of

something and like i'm stealing money here but i did not receive this compensation. that was one aspect that i think people were a little bit surprised to hear about. the other thing that came up is he talked about before his arrest, conversations he had with fiat chrysler and joining renault, nissan and mitsubishi and obviously he was detained once that happened and those talks were off the board. >> he said they spent $200 million trying to smear him for taking what they were saying was $14 million that he said he never got. >> yes we really -- becky, we haven't heard anything from nissan don't be surprised if nissan lets the japanese authorities speak for them. >> thank you very much for more i'm joined by dan any cevalos. danny, thank you for being here. >> of course. >> so now what >> now what? >> what happens? >> interpoll submitted when's

called a red notice, not a warrant. it is just a notice to a country that you have somebody who's a fugitive from justice, a fugitive or an escaped prisoner. now, carlos ghosn has not been tried yet. he's not under a sentence. he is just a fugitive awaiting trial and so lebanon has some tough choices to make in the coming weeks and months about what to do with this person, this fugitive. >> you don't think lebanon will do anything? there's no extradition treaty with japan and seem to say they're standing by him and carlos ghosn said he was naming names from japanese companies and he thought very personally sold him out he didn't name anyone in government because he didn't want to put the lebanese government in a more uncomfortable position. >> that's right. ghosn's view of this case is that this was an internal investigation over at nissan that was then handed off to authorities. it's basically a nissan internal squabble that was pushed off and

law enforcement was brought in to make that a legal criminal problem for ghosn. that's the way he viewed this case from the outset and the argument act his compensation is that japanese -- there's a japanese rule that says that limits the compensation of an executive and requires it to be disclosed, the argument there is that he was getting this deferred package, this deferred compensation, totally normal here in the states but in japan a lot more rules anlt disclosure saying it's negotiations they were not an actual deal for me to get this deferred compensation. >> you know, he was able to make his point very effectively today in terms of saying, look, if you are brought charges, a prosecutor brings charges there's a 99.4% conviction rate. seems crazy. the point is probably even higher for foreigners, no way to get a fair trial he thinks there. is his comments and predicament brought light into the justice system in japan.

are there changes under way there or forget it >> not only changes but have been changes over the past decades and past century but the reality is japan still has a 99%, over 99%, conviction rate and some explained by the fact they don't have plea bargaining so a prosecutor taking a case on they better be sure they can win. >> a higher conviction rate than russia. >> well, wait a second here in the united states, in federal court, where i practice frequently, over 90% conviction rate and more particularly so with white collar crimes like this and what this is. >> you don't think there's anything fishy with the 99% conviction rate? >> i'm not saying that at all. i'm not particularly fond of the 90 plus percent rate here in the united states but a 99.9% rate, that's a significant difference. virtually 0.0% chance escaping

conviction in japan. they only shifted to the adversarial system in the last century or so. this is a very -- an ever-changing system with a lot of tradition and focus on prosecutors working hand in hand with judges and criminal defense attorneys playing a reduced role in fact, they often don't appear at interrogations. >> carlos ghosn said that happened, intergatded frogated long time without lawyers. >> and held for 23 days. the protections we have here in the united states and that would never happen we have a similar conviction rate in the sense that 90% is pretty darn high, 99.9% and other the absence of safeguards make japan somewhere that could improve their system. >> thank you so much for your time. >> thank you. still ahead, the streaming landscape is more crowded than ever and about to be another player entering the fray itn lloikatzenberg and meg

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there is another player that's set to hit the scene in april quimby aims to make big stories for small devices. julie boorstin is at the consumers electronics show >> reporter: thanks so much, becky. jeff katzenberg, meg whitman, thank you for joining us fresh off the stage where you gave us a look at quibi for the first time you announced this snift, this new company two years ago almost, march in 2018. since then the streaming landscape has changed so dramatically in november we had launch of disney plus and apple tv plus what people are watching on their mobile devices how do you think about competing in this newly crowded landscape. >> there's a long history in hollywood of technology creating new ways for story tellers to tell their stories

think about it the movie picture technology before that it was just live theater. then that created a whole industry then television was an entire new technology and story telling community created new stories. what we announced today at ces is a new technology platform that is designed to make viewing on your phone a completely new unique experience. and we have been embraced by the creators in hollywood and we're super excited. we showed some clips of our first shows there today, that people saw for the very first time it's different yatd a break through. >> different yatd in that the format -- we're showing clips the shot changes where you change it from horizontal to vertical but people are watching a lot of video on their mobile devices and a lot of new ad supported devices are getting traction do you feel pressure to launch a free ad support version just as

peacock which is launching in april will have? >> this is apples and oranges. all of these things that happened up to now are battling for the tv set actually less than 10% of netflix oviewing is on a telephone. this is not where people are watching this amazing new video today and success that apple and disney is having it's not what we're doing. what we're doing is creating with this amazing new technology in the hands of story tellers a new form of story telling on a device and a mobile device, in a quality way that people have not seen before and it's the combination of these clips that you're watching right now which were shot by some of the best film makers in hollywood and telling stories in a way that's never happened before. >> $5 a month with ads, $8 a month without ads and this is now launching in april i guess the question is you may not be competing with netflix or

disney plus because people may be watching them more on the tv screens but you're competing for people's time and how much they are spending so whether competing with instagram or the movies. >> we're competing for entertainment dollars. no question about that we have to prove we got something special. our use case is different than the big streamers. our use case is 7:00 in the morning to 7:00 at night while you're kmugt waiting at the doctor's office waiting for a meeting to begin in that case we today consumers are watching nearly 80 minutes of video today on their phone up from sick minutes in 2012. we think that only gets bigger because of 5g and what we're doing. we're going a who new category maybe take a little share from what people are doing on their phones during the day but we're creating a new category of entertainment for mobile

>> disney plus announced 10,000 sign ups you're partnering with t-mobile. how many sign ups do you expect in the first month, first year >> we're expecting quite a different ramp we're an unknown brand people don't know what quibi is. disney was a 100-year-old brand that everyone knew it's interesting being a new comer to hollywood everybody is focused on the movie launch the first weekend. i'm focused on building a long term growth vehicle that is a new consumer service so we think our track record, our subscriber acquisition will be more gradual and we'll measure our success at the end of year one. >> do you expect to be bundled into other services. >> we'll start with t-mobile and they are a perfect fit they are perfect fit for quibi and thinks we're a perfect fit for t-mobile we'll be doing our own digital contiguous

we're doing television advertising, out of home advertising and pr and communications and social will be so important for us our stars have very big social followings >> quick final question. you have a lot of big partners have you discussed selling to any of these big tech partners >> we haven't even launched yet. no what we would like to do -- >> we're operators, we're entrepreneurs. we didn't build to sell we built for success. >> meg when it mapitman, jeff kg thanks so much all right. retailers go hi-tech we got a look at walmart's new alpha bot. exchange will be right back. who says our bank isn't tech enough?

everyone, look at your phones. the design thinking, the digital engineering, security, blockchain, and we will be first to market!

yes. when we do we launch? unfortunately, in 2 or 3, hours. why the delay? cognizant is helping banks use digital technologies at scale to advance speed to market. >> welcome back. more proof the grocery stores are going hi-tech. walmart is testing a platform named alpha bot in salem, new hampshire since last year. the fulfillment system looks like a mini warehouse.

it uses autonomous carts to retrieve shelf food and frozen goods that consumers order online once the alpha bot requested items and has them in hand the items are sent to a work station where an employee checks the order for accuracy the alpha both cuts the time to traditional picking done by humans walmart said employees will continue to pick fresh produce by hand. that does it for us on the exchange "power lunch" starts right now becky, thank you very much great to see you in th afternoon. welcome. i'm tyler mathison stocks stage a major rebound after iran retaliated against the united states by sending missiles into military bases in iraq but we'll tell you how to protect your portfolio no matter what happens next. plus moments after the attacks a deadly boeing plane crash in iran. killed everyone on board reports a