>> melco resorts down almost 10%. m fwrch mgm resorts down almost 6% >> wynn the worst performer in the s&p 500 and ual. >> fundamental, fundamentals, fundamentals, stick with them. watch the episode tonight. we'll see you tomorrow welcome to the "closing bell". i'm wilfred frost. here at the boeing post today. the stock of halted. now trading again after the company pushed back expectations when the 737 max will fly to the summer it's down 5% as we stand lots more details on that coming up and i'm sara eisen at the word economic forum in davos, switzerland where president trump set the tone early talking about the america's economic achievements huge skpus for you including a conversation with the ceo of

nest nestle >> i'm morgan brennan. that news on boeing is shaving about 100 points off the dow concerns about the china coronavirus are frustrating emerging markets software stocks did help the nasdaq hit an intraday all time high earlier joining us for the hour is steve weiss. great to have you. we certainly have seen major averages take a leg lower between this first confirmed case of the coronavirus here in the u.s. and then this news from boeing pushing out its forecast for return to service to the summer you still invested in boeing >> so i said on the "halftime report," i think thursday, i told just about a tag into my position that morning then the news hit later in the day. now we get a statement i was looking at it this morning. you hate to be reminded you're losing money

i figure if the stock, when the max goes back stock maybe misses on the first 10% but i won't have to deal with that and losing capital here's the statement from the company. i'll read the first few words. as we have emphasized the faa and other global regulators will determine when the 737 max returns to service that's and i told you so statement as we emphasized they are in no position to be that arrogant. you have a new ceo who i maintain is part of the old ceo group because he was on the board for ten years. he sat next to the old ceo, right, to dennis when he went on the apology tour and said we'll get approval in december so they further lost credibility. why you want to own the stock here when they go out to buy 10 billion. that's an issue. the fact they won relaunch until the middle of the year is not that big of an issue we had airlines come out and say

we're going back to june 7th presumably those airlines went to boeing and say do you think june 7st a safe date they said yes. what changed in that time period you think again this is a management team that would be particularly sensitive >> we're not clear this is the final delay with 5% or move to the stock price. much more on that coming up. weighing important broadly on the dow which is down 140 points with 57 mints left in the session. let's dive in on the beg stories. meg terrell is looking at the virus out of china and mike santoli has his market dashboard. lelgts start with the tumble in the chinese market as new fears of the coronavirus grows >> reporter: the cdc has confirmed the officials patient in the u.s. diagnosed with this coronavirus a man in washington consistent who recently returned

from china where this outbreak has been going on since last month. he returned on january 15th and authorities have not detailed which flight he took he arrived before the cdc implemented entrance screening at three u.s. airports the agency says it's now expanding that screening to atlanta and chicago as well. authorities say they are still learning about this virus including importantly how well it spread between people there are indications limited person to person spreading is happening. there's more than 300 cases reported in china with a few others in nearby countries and six confirmed deaths it is in the same family as viruses like sars and mers back to you. are there companies working on vaccines that could actually help alleviate this virus? >> there is already work going on at the n rirch h. there's work on a vaccine.

companies line regeneron confirmed they are on work on a potential treatment for this virus. with ebola we got work within six months this will take time. joining us now on the phone, dr. scott gotlieb former faa commissioner thank you for joining us first of all your again ral take on what we know about this virus and how concerned we should be >> it's concerning coronavirus generally isn't that virulent when you see a new virus starting to be spread in a human-to-human population you are concerned about it because people haven't been previously exposed to it. people can get quite ill coronavirus should be something that's self-limiting more serious in the young or old or infirmed but this is a new virus we don't have a lot of experience with. the question is there sustained

human-to-human spread right now and has it achieved the sweet spot where it's virulent enough to cause significant illness but not so serious it doesn't achieve sustained spread because people are too sick to transmit. >> it's a virus that some way is similar to sars which takes us back 2002-2003 when china covered up that outbreak initialing and had deaths related to it. how do you react to china and officials in other countries as they respond to it >> based on the sequence it has been a 7% overlap with sars but doesn't appear to be as significant in terms of the illness as it caused but it does seem to be spreading more rapidly sars never achieves sustained

human-to-human transmission. this might have already achieved that remember we're seeing the more serious cases present, people who get hospitalized or present with serious illness quite likely there's a lot of mild to motd rate cases that aren't presenting. 300 cases that have been reported don't represent the total number of people who have been infected. the chinese published the sequence very early in the course of uncovering this and made it available to researchers around the world they haven't made samples of the virus available and it could be important to develop a screen test which the cdc seems to have available now based on the sequence, develop a screening test but you want the actual viral samples and you want the samples to do animal experiments we seem to have gotten those samples but what chinese didn't make those very early. if they made them at all

that probably hampered some response efforts >> did you feel like we have the tools to address and cure the cases when we see them as the cdc has confirmed there's already one in the u.s., maybe more to come >> i think we certainly have the tools and the capability to do effective screening. to know when this is being transmitted and when people are becoming ill with this virus whether or not we can contain it will depend on how contagious it is, quite frankly. it seems to be contagious. it seems to be spreading human-to-human coronavirus can be very contagious typically they only affect animals. seven strains have made the jump to affect humans and some are able to sustain rapid spread or sustain spread in humans if this is one of them we don't know it appears it is spreading human-to-human early reports was only animals

to human >> lastly what can folks who are traveling abroad in the coming days, coming weeks due to help mitigate the risk or prevent coming in contact with this virus? >> well, i mean the question is how concerned should we be if this virus does spread remember we had the swine flu spread pretty widely that was serious a lot of people became very seriously ill. it worked its way through the population now we developed vaccines against it and many people developed immunity to it coronavirus isn't necessarily that serious in people who aren't immuno compromised or young or old people get colds all the time from coronaviruses the question is how serious this will be in terms of the kind of illness it cause if it does achieve more sustained spread. all indications are it's probably a mild illness at this point. the only reason you would be more concerned a lot of people

don't have prior exposure to it, don't have any pre-immune knit to it. but it seems tube mild illness >> dr. gotlieb thank you for joining us shares of boeing following news company don't expect regulators to sign off on the 737 max until june or july joining us now is our airline reporter leslie >> reporter: we just found out today boeing is not expecting the planes to come back. they are telling suppliers and airlines and customers that it's going to be until 2020, the beginning of the ungrounding process. what that means is that's when they think regulators will sign off on that. that doesn't mean we can all fly on a max the next day. the airlines need to train their pilots need to do some maintenance work and other things that takes a month more the other thing this means for airlines is that they are going another summer without this

plane. they've already done that. that's the peak season for revenue. >> leslie, two quick followup questions to give us context on why the stock is down so much 4.8% as we speak firstly, where was the expectation before this statement. how many months has it been pushed back. how certain was the statement in terms of them expecting to meet this new target because clearly there's been multiple delays and you can forgive investors, investors like steve not to believe the latest >> reporter: a very good question the airlines have been, of course, pushing back when they think the plane will come back from their schedules about a dozen times at this point. boeing doesn't want to give a firm date that they can't meet and as we remember from denise

muhlenberg, that caused a lot of problems by sticking with that boeing wants to sort of surprise to the upside if possible or give a more realistic range. i had heard from some executives they were being told some time in the spring which is a very vague period we're talking hot weather, cold weather. but now this is the first time david calhoun became ceo a week ago and this is the first guidance the company is coming out. it shows they are trying to be more conservative. that's why you're seeing that big move down. >> leslie, thanks very much for that steve is there now no share price on boeing that would lead you to increase your position again until this plane is back in the air >> i would need to see some positive news flow there are other areas of the market where i'm making money or could make money so why do it here with the management that i just don't view as credible. >> airlines were already treading lower because of these virus concerns

they are going lower because of this boeing news 15% of their revenue coming from asia pack. 15% or so from china they are the second biggest market that's what's pressuring the shares i'm looking for a good quarter after the close. i think this is a buying opportunity. as far as the market goes it's also a buying opportunity. i look back at all the other pandemics. it just depends what else is happening in the market and some of the pandemics the market went up because you have other factors going on this doesn't kill business forever. it may, some travellers may say okay maybe i don't have to go now but overall, you know, it's

unfortunate, of course, for the human lives that are impacted but in terms of business and markets it's really a non-event a buying the opportunity >> let's turn to the markets more broadly we have some advice for investors sticking with cash in their portfolio. here's what he said at the world economic forum in davos, switzerland. >> the issue is you can't jump into cash. cash is trash. okay you have to have a well diversified portfolio and first of all, you have to be global and you have to have balance you have to have a certain amount of gold in your portfolio or you have to have something to tie. >> let's get over to mike santoli for the market dashboard. he's doing a deeper dive on those cash levels. >> hard to argue against the idea people should have a well diversified portfolio going into any environment but it's not clear that people need to hear, investors need to hear not to jump into cash because cash levels are not high at the

moment this is from the just released global fund managers cash levels in those portfolios 4.2% basically steady at a multi-year low and goes back to 2013, before you saw that. as you can see this blue line it spikes meaning cash levels go up when the market is under stress. those are the good buying opportunities right here blue line spikes that's cash going up and usually when the market is trying to make a low right now we're at a multi-year, not critical low but definitely lower than it has been take a look at the other side. this is from the private client business this is the old merrill lynch business cash in these portfolios also below average for the long term certainly up off the lows from early 2018 but not suggesting to me you have in aggregate a lot of people huddled in cash.

look at floss. this is cumulative flows in stocks, cash and bonds money market funds that's cash that's been soaring lately this is cumulative over a number of years, over if past year anyway bonds also massive inflow in the last week a tremendous inflow into bond in fact a record, more than $20 billion into bond funds and a steady bleed out of stocks what's going on? the stock market is going up therefore people's equity allocation is going up you have a lot of people in these rebalancing portfolios that are is going to automatically rotate out of stocks into bonds and also a demographic picture. to me it doesn't suggest in general the world is hiding in cash and letting the market pass them by. >> mike, thanks for that still ahead here on "closing bell" tesla shares taking off. this time a street high of 800 bucks. details coming up.

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time now to get word on the street new street research raising price target on tesla to $800 from $530. the firm is bullish on tesla's addressable market and technical dominance over its peers macqua rirrie. oppenheimer upgraded costco to outperform it is an attractive entry point

after strong holiday sales potential specifically dividend of $10 could be on its way here's costco ceo talking to jim cramer >> one of the things about low prices you generate a lot of volume when you generate a lot of volume you don't generate cash and you have a responsibility to your shareholders and, you know, the stock has appreciated. we've done special dividends in the past we also think about them when the right time might be to do a special dividend we have no plans at the moment we always look at that >> that full interview is coming up tonight on "mad money". meantime, steve, any of these names ones you like? >> tesla reminds of the old no child left behind. no old analyst left behind if you raise your price target be the highest on the street you'll get the most calls. i don't know how you value it.

in terms of mastercard and visa i own visa you can own one or the other sure valuation stretched historically what isn't the acquisition they made will help with millennials. they keep going. consumer driven economy and i know i carry cash in my pocket for a few weeks and not use it i'm just using my credit cards it's not because i'm cheap i use my credit cards. easier >> the fin tick revery lugs is helping these companies. up next sara's big interviews of ceo of nestle. why the company is making a big why the company is making a big bet on plant based meats schneider.

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welcome back sara making her cnbc return from the world economic forum in davos earlier today. sitting down with nestle ceo mark schneider to talk about the company's sustainability efforts. sara >> in the spirit of davos you have actually recently announced big things, $2 billion that will go towards working on recyclable plastic that is safe for food. how big of an effort is that >> it's a huge effort.

it ties in with the sustainable focus that the world forum has this year. a major challenge. recyclable waste we need to focus on food recycling because the packaging needs be fit for food and beverage products and we want to get that market going. we're willing to spend $2 billion on it. >> how to you justify the $2 billion as the best use of capital for shareholders to do this >> we said right upfront we'll be making this earnings neutral. we'll find other efficiencies to make up for this you could say those could have been gone to the bottom nine for food and beverage company it's important to stay relevant. consumer tastes are shifting fast they want to know their packaging is not causing environmental concerns and so this is all about staying relevant to today's consumer >> how far away are we from something like kitkat wrappers, other wrappers made from

recyclable material. >> we have some types in the market in rap for example we have committed to make all our packaging recyclable or reusable by 2025 >> you mentioned consumer taste changing if you look at your portfolio, thinking of brands, kitkat, gerber, are these brands millennial consumers want. >> it's about the products what people want is healthier choices and also want products that come with no environmental footprint. if those get offered under trusted brands and gerber is a great example then all the better people trust good brands but they want to be sure that the product meets their expectations >> i want to hit some hot spots in the portfolio the starbucks deal seems it's driving results stock is at a record high. what do you have planned on that >> starbucks of one one of our signature deals. a $7 billion transaction a year and a half ago important one we struck the deal

six months later we went up with 24 products that got launched and meeting great success in the market what's on tap now for this year and next year is a wonderful pipeline of new starbucks products that we bring to the retail trail all in the same partnership but we recognize people want to get entertained for something new every day, every year. >> do you expect to see continued above category type growth for these products? >> for start ups for sure and for coffee where "we are the world" market leader, at least in lock step with the market if not ahead. >> what about cat food purina has done well >> pet food is one of our high growth categories. you see two friends. first is premiumization in the western world and the other is

ok ok calori krr calori krrcc study. u.s. market is going the same. lighter choices, growing environmental concern. >> you entered the plant based burger world competing with beyond and impossible. what's the difference for your awesome burgers and how have they been resonating with consumers. >> we're focused on this plant based alternatives is a growing opportunity for years to come we want to be right out there. this is in our core business, food so i think we have a great offering for the u.s.. for europe and asia it's soy based. we offer burgers on two technologies, yellow pea and soy. >> which tastes better >> both are wonderful. this is about meeting local tastes you can taste some of these at the forum where we do the catering tomorrow.

>> you have a deal with mcdonald's in germany for some of these vegan meat alternatives one of the expectations they could get the mcdonald's deal. do you have a shot at the mcdonald's deal since you're already working with that company? is that a misplaced idea it would go to beyond meat. >> it's not appropriate for me to speculate on client discussions. we're interested in working with past food chains as well as the retail opportunity but i don't want to comment specifically >> in europe swiss based business you sell all over the world. what will brexit mean for you when it happens in a few weeks and then 11 months later once they can hopefully work out a deal >> i think the good news is that with the proceedings through the fall, that it seems be hard brexit has been avoided. our first priority that the uk is one of our key markets worldwide we want to be sure we're not leaving the uk

consumer alone, not stock out or supply interruptions a lot of uk products are imported or raw materials are imported and then manufacturing into final goods in the uk so an orderly process to us was a top priority and seems this is shaping up >> so the alcohol notion of food shortages and price spikes, is that off the table >> it looks for now at least it's going a better solution compared to a hard brexit where the pinch points will be we'll find out we did run extra stock levels to be sure we live up to our courtroom commitment and we're prepared either way. >> what about phase one trade deal between the u.s. and china. has that an impact have you seen a difference in chinese consumption? have you adjust manufacturing at all? >> generally both for the u.s. and china most of what we sell in these markets we make locally. we're a company that's very deeply committed to local manufacturing and hence there was not that much exporting back and forth that we were exposed

to but, of course, as the global company that's present in 190 countries we're in favor of everything that's prorated finding a deal is better than no deal >> you got so many well-known of sparkling water brands water for you is growing less than the overall category. why is that in >> we have some homework to do in water we recently through a re-organization. we're now set up in a much more focused way. we're determined to fix that very quickly you're right water around the world is a high growth category. growing 5% plus in those markets. we were more or less flat for most of 2019 this is clearly something we have to address. we have leading brands a wonderful high quality offering no reason why we should underform. >> what's innovation that you're most excited about right now for 2020 >> overall i think plant based will be a continuing theme

>> not just a fad. >> meat alternatives no this is a 10, 20, 30 year thing. it's one of the best ways to meet health goals, sustainability goals we call it right for you, right for the planet not a short term plan. >> i didn't know they had possible land springs as well. they have my go to still and spa drink. >> plain sparkling no flavor >> explain sparkling p perrier is good but too sparkling. >> you want to drink from a glass bottle the chemicals break down the from the heat. >> more to come in the next hour from davos and sara. time for cnbc news update. sue herera has it. >> here's what's happening at

this hour. the company says they do not believe there was a safety risk to consumers and expect to resume production shortly. secretary of state pompeo meeting with injured members of the colombian military while announcing a u.s. project to improve their ability to find successful careers he was accompanied by the colombian defense minister >> we recognize the injuries and suffering that some of you and your families have experienced today. i'm announcing a $1 million project to improve the ability of wounded warriors to find employment, to have successful careers after their time in service. now it appears part of the university of richmond was built over the graves of slaves. research seems to point to evidence that a section of the university covers what used to be a plantation. it is now believed the slave cemetery was part of that

plantation you are up to date that's the news update morgan i'll send it back downtown to you. >> sue herera, thank you still to come, ibm will report earnings after the people. company's ceo will break down the numbers in an interview coming up. - at southern new hampshire university,

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welcome back we got just over 20 minutes left of the session let's go over to mike for the second installment of today's market dashboard >> take a look at ibm ahead of its report company faces a skeptical wall street this is the number of analysts this is how many have a buy. 20 analysts right now only four are recommending the stock hard to say that the street has been wrong about the stock in the last year. you see fewer and fewer recommendations. the stock is basically been sideways in a very strong market look at the valuation by two measures first of all the price earnings ratio around ten obviously some very discounted valuation relative to the market which is around 18

similar to what the older tech slow to no growth companies are at on this basis it looks cheap look on enterprise value to cash flow more all inclusive measure of corporate value includes net debt what you see here enterprise value shot up here that's when the company took on a good deal of value to buy red hat. not way out of whack in terms of its five year history but doesn't look cheap when you look at the overall net debt plus equity along so it seems the company caught in the middle there, not quite seeming outright cheap on all measures >> i would love to see a chart that compares what you just outlined with debt versus share buy backs. >> we can go back and do that whole chronology too it's not easy to say it was wrong given how it's been difficult for them to generate

returns. >> steve, last quarter they missed with easier comps than they have. >> they missed the last five last four or five. market pays premium for consistency they should sell to the market the you look at the chart. last one he had up there on enterprise basis value it got more expensive as the stock has come down in price people always have to watch that when a stock comes down like boeing oh, boeing is so much cheaper. boeing is not cheaper because the balance sheet has grown in term of the debt >> that ev to cash flow. up next your last chance trade >> plus we're counting you down to earnings. netflix, ibm and united after the bell ♪

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doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. welcome back here's a check on the "closing bell" big board. nasdaq hitting an all time intraday high. some of the leaders include tesla, costco and micron time for your last chance trade. 16 minutes left in the session steve what have you got? >> qualcomm. it's a stock i started buying about a month ago and working. had a couple of upgrades come

out. 5g is not just an upgrade to 4g. 5g is a platform enabling technology whereas 4g is a mobile network qualcomm owns the ip here which is why apple with qualcomm they want to use qualcomm chips in their phones qualcomm missed the whole cycle, been dead for ten years. if you go back to 2011 the stock was 80 this time they got it right, i believe. and you'll see the stock continue to move if you want to be in phones, if you want to be in the cyber tie up which will read the pavement and communicate what it's seeing to other cars on the road. you have to have a 5g massive build out. >> had a decent run in the short term still buying even at these levels >> i built my last before the last upgrade pretty full position right now i don't know what the quarter will be. don't care hope it gives me more

opportunity. >> up next we'll bring you uninterrupted coverage of the final minutes of trade when we take you inside the market zone and you can always watch or listen to us live on the go on the cnbc app we'll be right back. we made usaa insurance for members like martin.

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you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. we have 12 minutes left in the trading day and major averages lower we're in the "closing bell" market zone. mike santoli is here to break down these crucial moments. steve weiss as well here

we're at the moment down 165 points on the dow. s&p down one-third of a percent. >> reporter: this week is one of the most important to casinos in macaw. hong kong based melco resorts is down 10% las vegas sands, wynn resorts off on the day las vegas sands down 5%. wynn resorts down 6% mgm down 6%. still very reliant on chinese visitors to las vegas and that may be some of those concerns as well industry insiders say the fear hits the stock first before there's any real data that there will be an impact on visitation.

harry curtis, the gaming analyst has scents out a note saying if you look what happened with sars, if you look what happened to bird flu in 2008 visitation to macaw dropped p i want to get your thoughts on this. you've seen casino stocks under pressure airline stocks under pressure. some retail names under pressure >> it makes sense as a reflex. wynn is one of the most volatile stocks in the s&p. it moves twice as much as the market airlines similarly, just starting to get a lot of tactical traders on board. then this news that's at least a little bit of a question about volumes. i don't think it changes the overall story. typically they stocks do bounce back >> when you got hong kong down 2.8% and shanghai down 1.4% this morning, i guess the u.s. selling is in perspective,

outperformance if we had a couple more days like this of china setting off kpong off it's harder then for the u.s. to ignore it even if it doesn't affect domestic sales. >> it would be harder for sure given the fact the u.s. market seems it's set up to seize on an excuse to pull back. so far today it's been very resilient to these headlines that would be the case i would imagine especially if it's accompanied by more risk off >> shares of boeing falling this afternoon after the company says it now estimates regulators won't sign off on the grounded 737 max until this summer. that's months later than what boeing previously expected the company is in talks with banks to secure a loan of $10 billion or more as it faces rising cost. to revisit given the fact it's a big drag on the dow. >> a gift that keeps giving for

shows like this. always something to talk about here's what i hope it is i hope calhoun did a kitchen sink announcement. despite the aftrrogance of the opening line it will take longer than it will take. if that's the case i'm still not buying it because i have no guarantee there won't be anything but negative news flow between now and the next few months he didn't give a six month window, hopefully a one month window >> i would say with regard to the cap, the raising of debt, it's a scary juxtaposition they have lots of debt outstanding. trading okay they have some that wilma you're the. in other words it's not weird boeing would be out there. however they certainly topping up the cash stores because they are worried about the cash burn and all the rest

i don't think you should take it in a vacuum that boeing is out there trying to issue new paper. >> also when they are raising debt and have such a big dividend you wish they were not committed to the dividend and could be doing buy backs. >> psychology of a ceo is never to cut the debt. >> of course they are not going to do that but an interesting dichotomy they got >> the outstanding debt is 2%, 3% or 4%, not onerous at all >> that would send the wrong message if they cut the dividend >> we got just one seven minutes left on the session. uber testing a feature that allows some drivers to set their own fares. >> reporter: this is the latest move by uber in response to the gig economy law here in california the new move allows drivers to charge as much as five times the fare that uber charges on a ride, essentially setting up a bidding system so far it's being tested at three airports, santa barbara,

sacramento and palm springs. the key thing is uber is trying to bolster its case. the drivers are not part of its other business uber itself is just a platform an argument we heard time and time again this move and others are meant to show drivers are free from the company's control and, thus, should be operating as independent contractors. very much to be seen if lawmakers will agree with that back to you. >> any sign that you could be getting any kind of similar move from competitor lyft as well >> reporter: that's a great question lyft has been a lot quieter on this law taking effect they haven't made any changes as far as i'm concerned and the last time i checked with them. i'm wondering what their strategy is. like uber they are not changing the status of their drivers. they are continuing to operate as independent contractors the months go on, lawsuits are likely to build against those companies. >> would you still have both options to accept the regular

uber calculated price or switch to the sort of more price. >> reporter: they don't know how it will be ruled out uber is just testing it. they are testing it in smaller markets like sacramento and palm springs. basically, what happens is the driver can bid to see what they think the rider is going to accept and if you bid lower that way you actually get the ride. a whole new system that essentially puts some of the power into the driver's hands which is what the gig economy law 85 is trying the to do >> reporter: morgan, the key is subscribers. we'll see if netflix new streaming rivals impact the original streamers growth. netflix forecast the addition of 7 million subscribers overseas and 600,000 new subscribers in the u.s. for the first quarter investors

expect netflix to guide to over 8.5 million new subscribers, more or less could indicate concerns about market saturation and competition. netflix shares bouncing back but fell earlier on news that david einhorn capital increased the short position warning competition is denting netflix domestically while international subscriber growth is less valuable back to you. >> steve, where do you stand ahead of these numbers still stretch? >> i just don't really see the offerings that we see coming to the marketplace changing disney a lot of people getting free through verizon apple is not a factor yet. others not out there yet look, it's becoming utility. not that expensive so i think that this should not be a quarter where they are impacted i think stocks are okay. i don't know what subscriber

will be. i don't care quarter to quarter. >> i realize in terms of fang, netflix is the outlier vastly under performed its peers. how much weight can be put towards these numbers? >> not a tremendous amount just because the rest of fang, it's like automatic massive profits is the story and that's why they hit these huge premiums for netflix still a contingent story. goes quarter by quarter. to your point, if the stock was above 400 a year and a half ago it's down well below that right now. the premium has been led away. the question is enough or not. >> in term of the market what do you think >> they are soft but not all that terribly negative it has been more to the down side all day you see more than twice as much

down side volume as upside volume kind of a stealth profit taking move low volatility stocks versus high beta stocks over the last couple of days you see basically the defensives low volatility are outperforming. the that's where the lower yield environment. volatility index, very steady in the 12s. been that way for a while. carving out a floor. a little bit of bidding for down side protection going into "today" caucus and super tuesday. >> two minutes to go let's send it over to rick santelli for a check on bonds. >> reporter: treasury rates are making news. now at 1.52. down for you basis points. open the chart to october, very close to fresh three month low yield closes as you see on that chart. finally the same time frame with 10 year note yields also on the lows at 176 down six basis points down four, down six. curve flattening

treasury rates at seven week low. kay rogers even though the nasdaq is down it's basically at the same range as friday >> rick, that's right. we have been dipping in and out of positive territory all day. we're lower by about a quarter of a percent after hitting that intraday high. in terms of movers tesla is the best performer in the nasdaq 100 today. that's thanks to an increased price target of $800 from new street research. costco also on the move higher one of the best performsers in the nasdaq 100 after an upgrade by oppenheimer starbucks announced it will be looking to move towards more plant based openings on its menu to the down side, airlines united airlines and american i'll send it over to you bob pisani >> took a global virus threat but finally lvmh dropped

you see here down 1% modest drop. all the big luxury names were weaker bond yields helped home builders those stocks have been on hot fire there's the close bell not quite the loss of the day. dow jones industrial average down largely by boeing >> welcome to "closing bell" >> i'm margaret brennan. >> let's check in on how the markets finished lower albeit not too much lower relative to europe and asia overnight. the dow biggest decliner of the major averages down of half of 1 percent. nasdaq and s&p down more like 0.2% russell down significantly.08%

utilities at the top showing that defensive tone to today's trade. >> we did also briefly hit new all time intraday record highs for the nasdaq earlier in the session as well although obviously those gains did not hold moments away from earnings from netflix, ibm and united airlines we'll bring you those numbers as soon as they cross joining us to talk about the market day, jack manly and steven weiss mike, first to you >> a little bit of a modest pull back everyone has been able to say for weeks the market looked stretch. very persistent rally, and it's overbought and people were too confident in the upside. that's been the case for a couple of weeks. you would have thought you had good excuses for something sharper on the down side it looked like it was a stalling out of some of the buying. but not much beyond that we'll just see, though if we continue to get pressure by the news flow overseas whether we

can hold these levels or not going through the rest of the week >> do you see today's action as fairly resilient in the face of headline challenges? >> absolutely. i think that today is yet another day that proof this market is extraordinarily resilient. we had bad one off news when it came from earnings report or perhaps some concern about this chinese virus making land fall so to speak in the united states for the most part i see the market brushing this off and grinding higher in today's environment. >> steve, earnings we get some additional names after the bell and continues to bump up throughout the week. will that drive the market from here on out? >> i don't think it matters that much ibm said, look, if the market went by ibm it would be down it's up. netflix, specific case united we may get chatter about the consumer that will be positive. nothing there is really going to set off the market i actually think today is a win

not just resilient a win when you came in and look where china was, where asia was, where the fear headlines you would say we're down 2%. we're basically flat take out boeing we're flat >> in terms of the positives to offset the other headliether he negatives, trade is off the table. mexico and china has improved. kind of got a tone that europe won't come in to the bar begin until after the election >> i think the market is essentially said we're past trade as an immediate tactical market factor. that can only be upset by a surprise aggressive action from one side or the other. i think that's a net positive. look, we still are up a lot in a short amount of time so you can say that the market held up just fine as it is but we're still facing these headwinds of probably over bullish sentiment and a little bit of overbought market

>> we start this year, we started this month with ratcheting up tensions between the u.s. and iran just how big is the geopolitical threat can we say it's off the table? >> i think we look at all these different things that were worrying us moving into the end of last year whether it's trade tensions with china. potential parliamentary elections out of the uk and coming in to this year with potentially escalating tensions with iran. i think it's proof that some things have been coming off the table. some things are coming back on that 2020 as a whole will look like last year in terms of the sort of general overbearing in some sense of geopolitical uncertainty. that may weigh on where confidence goes. >> reporter: netflix is beating estimates by a hair coming in at 5.47 billion above the 5.45 billion estimated.

earnings per share reported at $1.30. we're working whether that's comparable with the expectations key number to watch here is streaming additions. subscriber additions the company announcing it added 8.76 million global streaming net additions in the quarter that's significantly better than 7.6 million projected. the stock declining in after hours trading. that could be because the forecast for first quarter global additions is significantly less than wall street estimates the company said it will add 7 million net additions in the first quarter versus expectations of 8.5 million from the consensus. another keynote here the company is now breaking out these different regions. u.s.-canada, combination of u.s. and canada the company added 150,000 subscribers in the fourth quarter that's less than the 600,000 expected just for the u.s., not

including canada we'll continue to dig through the report here and find some other nuggets to report for you. one key thing they said average stream payments grew while peruser increased. less than the total increase membership we'll be back to you with more guys >> thanks very much for that the specific u.s. number was 420,000 versus 600,000 perhaps the way the market is reacting an indication how u.s. subscribers are valued more. >> i don't see this as a tremendous move in the stock sorting out whether the company success a bit conservative, perhaps in its first quarter guidance given the fact it missed its own guidance a couple of times i do think you have to kind of take the kind of push with the fall in terms of these results but, yes, i do think there's a

heightened sensitivity to the domestic landscape right now the light short fall is obviously not good news but a 3% move in netflix after earnings qualifies as relatively mute >> steve i want to get your thoughts on these numbers especially the key one that the guidance is light. we can talk about the fact you had phase one is to speak of the streaming services coming online last quarter you start to get more come this spring so presumably with those numbers you're starting to see a fuller effect >> i think what you got to question how do you reach a saturation point in the u.s. of subscribers. who is the marginal subscriber netflix has been around for quite some time. however if you look at the portfolio they've done pretty well, vastly exceeding subscriber growth overall. so i'm not in the stock. i don't foresee myself getting into the stock

foreign growth which is what they tell you the story is, is impressive >> there's some mentions about the likes of ""the irishman"." the big feature films they released very popular with their members but didn't give anything stronger than that so i don't know whether that's an underwhelming comment relative to what they said -- we'll dive into ibm numbers which -- we'll come back to netflix and ibm >> reporter: big blue reporting an unexpected return to revenue growth with a slight beat on the top line 21.78 billion in revenue versus 21.6 billion. shares are popping more than 4% in the after hours that breaks its streak of five quarters of year-over-year revenue decline. bottom line also beating by two cents here adjusted eps coming

in at $4.01. investors want to see how its big red hot acquisition is helping ibm compete with the other giants in the space. company says cloud revenue was $6.8 billion it's largest ever and compromises 30% of total revenue. better than expected full year operating guidance propelling those shares higher. today's report a much needed beat after underperforming the s&p since its last report. confides "squawk box" will be talking to davos tomorrow. >> stock super5% >> it's certainly well better than expected. low expectations that were easily beaten. they did talk about cutting debt since the red hat acquisition. they vowed to cutback on leverage that was taken for that that's all good news the stock, though, you know at 145 is back where it was

september 30th you have to say it's a sigh of relief and positive direction. unclear if we can extrapolate this type of revenue growth. >> big move in the share price relative to a very small beat on each of the lines. decent guidance and the share price has been underperforming 5% higher. we'll speak with the cfo in just a moment we'll pivot back mike i interrupted you >> the other thing the company said is essentially their viewership per member stayed the same so what they are trying to convey is engagement with the content remains at a high level and so they will throw these metrics out there to essentially say we're not yesterday's news >> on the topic of netflix, julia has more >> reporter: i want to dig in on some of the comments about competition. many media companies and tech giants are launching streaming services reinforcing the trends

from linear to streaming entertainment. he talked how this is a global trend and rising tide lifting all boats. we believe if we do that well netflix will don't prosper in the fourth quarter despite the big debut of disney plus, our viewing per membership global and in the u.s. on year-over-year basis consistent with the recent quarters he then breaks out in a chart here search trends on google for "the richard," amazon's "jack ryan" and apple's "the morning show" they continue to make gains and be part of sort of the public conversation in terms of what people are searching for despite all that competition it's interesting they mentioned the 76 million households that watched "the richard. the "six underground" was watched by 83 million.

they didn't give us numbers for "the irishman" or others that won so many oscars so interesting that they are trying to set themselves apart in terms of having a head start of 22 years on the competition >> all right julia, thank you jack i want to get your take on some of these numbers that are now crossing the tape. especially since ibm posted better than expected numbers where cloud is concerned i wonder how much of a gauge that is or i guess a bellwether for what we could see in step of enterprise and companies feeling more comfortable in making investments. >> sectors like enterprise are poised to do well. some of the major sticking points in these areas were concerns about supply chains as it related to escalation and the fact we were able to ink out deals with china and come out with this new version of naf tax this usmca

confidence can come back a little bit and more willingness to spend less concern about that global supply chain challenge. >> steve, as we wrap things up what's your take on what we saw from booim and does it influence your positioning in the tech center at all? we talked qualcomm earlier >> i have to go through the release, the numbers on the surface. congratulations to the company increased guidance that's reversal, so hopefully in the right, you know, in the right direction. i would have to look look, if they do get it together, momentum has changed from fundamental standpoint then it's a buy i'm not sure that's the case cloud is very competitive. cloud will continue to grow because of 5g. >> steve as always great to see you. up next we'll dive more into netflix numbers and what it means. earningsro fm united airlines due out at any moment. "closing bell" back in 90 seconds. eed something better.

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welcome back breaking news on intel >> reporter: that's right. intel announcing at the company's january 15th board meeting andy bryant stepped down as chairman. bryant been at intel for a long time in a number of different roles including cfo. remember he did tell us back in march 2019 he didn't intend to stand for re-election.

keep in mind intel scheduled to report results thursday after the bell guys, back to you. >> all right josh lipton. netflix shares trading lower in after hours after reporting earnings, although pretty modest move given what we've seen in previous quarters. joining us is now is ed from the "new york times" >> these numbers disney plus had a modest impact. the company suggest that the new competition has eaten into it a little bit bigger story with netflix it's an international business. that's where the growth is coming from. they anticipate getting somewhere between 60, 90 million total subscribers. they will eventually get there happen much more slowly. the international growth is a positive for them and beat their estimates on that side of it disney plus you can't count it out. >> cynthia, what's your main takeaway >> i think looking at the

numbers, obviously, you know, any cable operator in the country would be happy to see something like 420,000 ads in their service in this quarter. domestic growth is clearly slowing. international growth is clearly being scrutinized. the biggest issue for netflix is the slowing of the buzziness of its content. at this moment when they are facing so much more increased competition the slow down in the buzz around their shows is a real problem for them. >> on that topic, cynthia, there's less detail in the wording of the release about the major movies they released like "the irishman" than the tv series do you think they would be served better by sending big bucks on tv series as opposed to movies >> i think it really is a surprise given the oscar, the academy awards are around the corner i thought for sure we would get

kernels about their big contenders, the irishman, the "marriage story" they have gotten all kinds of praise there's speculation they may not be playing to big audiences on the netflix platform, and i think, again, they are a company that relies on awards. they rely on pop culture buzz. they have some growth with the show "the richard. they have the show "you. they are a little thin on something that really capture like ""orange is the new black". >> hard to find good content that will create the watercooler buzziness. they are spending a ton on content. to cynthia's point a lot of information on late season releases they had. they want more time. they usually want to look at 28 days worth plus of actual being on the service before they

release those numbers but also a possibility that they -- >> also says they are changing how they report the viewing. they are not requiring you watch 70% of a show. >> i would love to know how many people started "the irishman" and didn't get through it. >> a huge portion or 70% of a three and a half hour movie. >> spending more on content they outlined cash flow >> this was a change in the cash flow you're reading my mind here. they had sort of been saying in the past about expect about 3 billion in negative cash in 2020 what they had in twine adjusting it down to 2.5 billion. we keep talking about netflix as a cash burn company that spends tons on content. they will still spend ton on content but they want to get to self-funding that's their goal.

>> is in think, a in terms of final thoughts do you think they got enough growth momentum on the international side to offset any concerns on the domestic side >> i mean clearly international momentum at the rate that they are forecasting even if their first quarter 2020 forecast is less than expected still an astounding number. i think it's really going to be about, you know, how they manage all of that content spending, all of it around the world i don't know if they will address this there's a new report out a couple of days ago pegging their 2020 spending at 17.3 billion. even with -- on content even with this kind of international growth that's a big number to cover and i think all the information that they are putting in about the interest in their shows and the shows being searched is an effort to show that there is -- they do have traction, people are still

seeking them out >> i want to get back out to julie boorstin who has more on these results for us >> reporter: i want to point out a note here in this letter to shareholders how they are measuring how many people watch their shows. they used to report household viewing on a title based has completed 70% of a single episode or series. now they will report on household accounts that chose to watch a given title. the footnote says chose to watch but did watch two minutes indicate that their choice is intentional. they say they will be doing something that bbc iplayer does including request for titles sort of this whole idea who is searching for it and watching a little bit of it you no longer have to complete 70% of a show and saying the new metric surprised at 35% higher on average than the old metric. we'll see if there's any push

back in terms of them inflating how many people are watching you no longer have to watch 70 pores for it to count. >> just two minutes. just two minutes will count now for a view >> which often comes on by mistake on netflix >> a lot of times looking for things few minutes and then stop and move on with my life i don't know how julia feels about that >> i'm selective when they tell us those viewing numbers >> two minutes probably says you intended to start it that's really -- >> for the debate we have about things like "the irishman," if they do get some awards they may not be obsessed about focusing on those in the future >> this is all their own effort to try and measure and convey engagement all that matters ultimately is trajectory of memberships and the pricing of those memberships. it's more muted. >> ignore this watch metric.

look at actual subscribers for hollywood and we talked about how their awards are important. cynthia brought up that fact part of the reason why is they need to let stores know they are a legit outlet if they care about that's a ploy more so this will lead to more viewing it may the immediate tactic is to let hollywood know we're kosher. >> cynthia thank you so much for joining us time for united numbers. >> reporter: united airlines reporting a 2% beat on its revenue. largely in line with infuriate quarter estimates. the company calling the fourth quarter a great quarter. when munoz says i look at united airline i couldn't be broader. coronavirus outbreak and concerns around that sent shares of united down nearly 4% in

today,'s trade no comment from the company as of yet the earnings conference call tomorrow morning guys, back to you. >> earnings call definitely be interesting at least as you said with the chinese coronavirus but also the latest from boeing. still to come we'll dive deeper into ibm's earning when we talk with james kavanaugh >> "closing bell" will be right >> "closing bell" will be right back.

that's what happens in golf nothiand in life.ily. i'm very fortunate i can lean on people, and that for me is what teamwork is all about. you can't do everything yourself. you need someone to guide you and help you make those tough decisions, that's morgan stanley. they're industry leaders, but the most important thing is they want to do it the right way. i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley.

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ibm earnings out stock up 4% after beating both top and bottom lines and posting surprise revenue growth breaking a streak of five consecutive quarters of year-over-year declines joining us is james kavanaugh. very good afternoon to you thanks for joining us. >> thank you thanks for having me >> talk us through this beat today and in particular where you see for 2020 the momentum continuing >> yes obviously we're very pleased to our finish to the fourth quarter

in fiscal quarter 2019 that was driven by the acceleration of our hybrid cloud portfolio. also capitalizing as you saw in these results the synergyistic approach of bringing red hat and ibm together red hat for the first time in the history eclipsed $1 billion of revenue in a quarter. but even coupled with that, we continue to drive the fundamentals across our business model and you see that play out here in the fourth quarter strong operating margin and strong cash flow our margins were up to 30 basis points the best in over a decade and i was listening to mike earlier today we generated 11.9 billion of free cash flow and since the closure of the red hat

acquisition less than six months we paid down $10 billion of debt in that period we feel pretty good about the book of our business and portfolio as we enter 2020 which gives us the confidence and guidance we went out with. >> i want to focus on the cloud point, james morgan stanley downgraded the sfok earlier in the week and said based on their work there are vuiews of ibm that have not improved and in some cases deteriorated suggesting that others are ahead of ibm in the marketpla marketplace. what do you say to that? do these result suggest otherwise? >> as cfo let's take a look at the facts and data and acceleration that we've seen in our cloud performance throughout this year. we've went from low to mid-single digits in the beginning of the year to where we're exiting the year with over

$21 billion on a trailing 12 months in terms of a cloud portfolio overall. so the numbers say one thing secondly i think you are getting right at the heart of the ration rationale why we acquired red hat. we have the industry's first certified end to end hybrid cloud platform that provides that orchestration area. that will continue into 2020 >> talking about red hat specifically as you continue to integrate that entity what are the expectations for revenue growth this year at a time when cloud is getting increasingly competitive and seeing increased marketing dollars being ramped up for sorry cloud providers

how is ibm looking at it and approaching it >> we've been investing significantly over the last few years in building out a whole set of differentiated capabilities around cloud. you just saw recently where we collaborated with bank of america to announce the first industry specific financial services cloud built for continuous compliance as we move forward. so that coupled with the red hat acquisition -- >> what does that mean there's a lot of clouds that banks use. what does that terminology us. a lot of financial institutions have deep and impressive cloud with different companies you're using big words to try to take an accolade >> well you probably understand this better than everyone just giving your background the regulatory requirements we satisfy over 500 regulatory requirements each every day over

continuous compliance as we move forward. that's what we collaborated with bank of america which we'll be scaling up in 2020 as we move forward. our cloud overall has been predicated on a value on security and compliance and i think bank of america is a great substantiation why they partnered with us overall. >> thank you for your time and congratulations on the numbers the stock is up 4% >> thank you very much take care. up next the ceo of phillip morris international dcuissses how vaping illnesses is impacting the future of smokeless tobacco. (upbeat music)

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welcome back it's time for a cnbc update with sue herera >> hello, everybody. here's what's happening at this hour senator bernie sanders responding to withering criticism from hillary clinton who claimed in an upcoming documentary that nobody liked sanders and he's gotten nothing done in washington >> secretary clinton is entitled to her point of view my job today is to focus on the impeachment trial. my job today is to put together a team that can defeat the most dangerous president in the history of the united states of america. >> air strikes on rebel held parts of northwest syria and

shelling of government held areas killed 17 people today that's according to syrian opposition activists the dead included a family of eight consisting of six children hundreds of central american migrants spent a cold night camping out on mike's southernmost border with guatemala. mexico national guard prevented them from entering the country on monday. the migrants vowed again to enter mexico en route to the united states. you're up to date. that's the news update at this hour morgan, back to you. >> president trump as impeachment trial getting heated in the senate as house managers and president's defense team spar over the rules. >> reporter: the senate is voting right now on already it should subpoena any additional document from the white house or whether president's phone call with the president of ukraine. we do expect the top democrat chuck schumer to offer additional amendments that would call for more witnesses and for

more evidence. democrats already feel that they've got one win when majority leader mitch mcconnell announced both sides could make their opening arguments over three days instead of cramming it into two days schumer says it means mitch mcconnell is feeling the pressure from democrats and moderate republicans still the white house is mounting a very spirited defense. >> talk about the framers worst nightmare. it's a partisan impeachment that they delivered to your door step >> reporter: president trump has tweeted just once about the trial so far from davos. the tweet simply says read the transcript >> thanks so much for that now investors see a big earns. netflix beating revenues been trading lower on spoipting subscriber outlook united and american airlines

beating. ibm moving to the upside united just lower. >> some of the top themes at this world's economic forum is about sustainability, and others sara eisen is sitting down with the ceo of phillip morris international. >> last time we heard from you last fall was when deal talks fell apart you were buying altria the stock has come back. there are rumors you could go back to this deal. what can you tell us about this? >> first of all it was a merger discussion not an acquisition this is now finished this chapter is closed we're focused in the ongoing relationship we have with altria which is to commercialize in the u.s. because i believe now that

the first hint of tobacco product known actually to have an authorization for commercialization by the fda is an opportunity >> it's dead >> finished. >> are you able to attend the world economic forum as a tobacco company? >> i think we're here in davos >> you have a lounge you have a presence. >> exactly >> what about participating? >> look, we should and could, if the world economic forum agreed, but that's exactly the purpose we're here becauseif you remember last year we talked about our mission which was providing cigarettes for people who continue to smoke. we need support from the community if we're to skrie accelerate the issue other is this is not one company that can resolve the

problems you need all the players to sit around the table and make it happen the best and fastest way. that's what it is about. if we want to resolve the issues we need to work together with public and private-sector. >> there's public perception, though, and this new push climate change front and center here larry fink of blackrock will focus their investment on companies that have the right policies do you worry that takes away shareholder support because one of the first groups that investors think of when they think of pulling that kind of money out is tobacco companies >> first of all not all tobacco companies are the same secondly i think from a sustainability perspective the biggest contribution phillip morris as a company can make is resolve the problem of cigarettes because that's what's unsustainable. we offer alternatives to people

that are better than cigarettes and addressing the core is the product itself and, of course, we're doing all the other things that are necessary in terms of carbon footprint. we're on the a-list for that purpose. we are having excellent practices. we look at the supply chain. and our annual sustainable report is available. to me the priority and focus is the product itself and that's why i'm saying first of all as a tobacco company, we try to be ahead of everybody else. and i think we are and i expect investors to look at this aspect of what we're doing rather than wholesale saying tobacco companies should be excluded. >> you got the seal of approval from the fda which was a big step in the u.s. what do you say to people who read all of the negative stories

around juul, the deaths, the crisis we have with teen vaping in the u.s i think that's the same problem. >> not at all. first of all, under the fda authorization is very much regulated. so it's marketing for authorization is very clearly defined and has to be interaction constantly with the agency and at the same time measuring if we are progressing with the adult smokers but also measuring if there is any impact on unintended audiences in particular teenagers and if we look at iqos worldwide it's in 52 markets we don't have an issue like this because we make sure teenagers cannot buy our products. >> much more to come as well tomorrow up next netflix shares volatile in after hours trading following weak subscriber guidance

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we're back netflix out with its fourth quarter earnings the stock has been a bit volatile after the hours it's trading slightly higher joining us is bernie good to see you. headline takeaway from the numbers >> it's the one cue miss for the guidance that combined with expectations, clients we spoke to had gotten long on the stock after being shorted in the summer. i think those combinations are why you see the stock plus or minus 1% after hours trading >> you talking about subs or eps. >> it's a subs came. they reported negative cash flow the guide was $2.5 billion negative cash flow in line with expectations for 2020 >> the fact that the u.s. and canada subs for q4 fell short of expectations it mentioned u.s. competitive landscape. but also recent price changes.

have we hit a ceiling in terms much pricing >> that's the big question we think we have over the short term, could be up to 40 million households apple plus, disney plus came in lower than expectations. the subscriber game in u.s. with 50 million subscribers almost 60% of u.s. broadband households internationally over 100 million subs internationally just later in the innings in terms of share gains to go >> you get the sense the first quarter guidance is a little bit lower? >> that's the big question the big takeaway after last quarter call was reed's column on the call saying what do you look forward most? that's blowing out numbers is the company pivoting to guiding conservatively even after the release they say we're guiding to where they are. that's the the ways. >> we were discussing earlier how they wrote less or less detail about the big movies in this quarter than they did about

the tv shows do you take away from that they have less to say about u.s. viewership >> "six under ground" was mass give in general we think that movies aren't as big of a driver of net ads, the platform is tv series this was a big movie movie quarter. >> all right bernie, thanks for joining us. shares are up fractionally which is a headline, which tends to be a very volatile mover. up next break out the history books. mike santoli heads to the telestrator with a long term look at the market and what it means. we'll be right back. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence.

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welcome back to "closing bell." lets send it to mike santoli for the final dashboard of the day mike. >> the 10-year treasury yield, the past decade. three times a major low below 1.5% most recently this past summer technical analysts tell you that means we're headed back up towards 2.5% on the yield. we even got to the 3% a couple of times however what you see is the congestion, really not taking off tp maybe it looks like we did in 2012 where it was slow to revive now a couple of other things going on global yields are lower now than then the fed not raising rates any

time soon. but i think a lot of bulls on the equity market would like to see this inch up or if nothing else hold the uptrend as opposed to back to the lows. this is what we are watching as we have had a pullback in the yield. >> mike, thanks. the top after hours movers we break down the stops making the biggest moves after reporting results. back in a couple of minutes. sometimes your small screen is your big screen.

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welcome back lets check in on today's after hours movers netflix beating estimates. trading higher now by 0.8% lower initially. ibm and united airlines beating profit and sales expectations. united had been down briefly ibm up a healthy 4%. td ameritrade missing on top and bottom lines down 1.4% another big day at davos tomorrow the top interviews every investor needs to be watching when "closing bell" comes back at fidelity, you'll work with an advisor

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if you can imagine it, we will build the bridge to get you there. cisco. the bridge to possible. >> announcer: netflix. earnings impact. the rising stakes for competitive edge and content and subscribers. looking ahead to tomorrow we've got another big day of interviews coming your way straight from davos, switzerland. >> coming up tomorrow on the "closing bell," how does the u.s. china phase 1 trade deal affect economic growth we talk to the ceo of dow chemical always a bell weather about the outlook. tech opportunities including ai

in china with venture investor and billionaire jim briar. an early investor in facebook. and and that and more tomorrow on the "closing bell" from davos. >> and more coverage in the morning as well. mike, back to the broad are markets for today, resilient relative to declines overseas. if we get two or three% declines in asia hard to shrug off. >> the emerging markets off 2 or 3% on the day. every trader came in saying we'll be up for a pause or dip right here it doesn't come on time always we may have to contend with a stalling out but now it's earnings taking the focus in terms of whether expectations are too high or low. netflix seems like modest expectations into the quarter. >> then of course better than expected numbers for ibm and other names more than 40 s&p companies throughout the week. >> exactly yes. i think it's the regular

opposing current of kind of beats and raises and all the rest of it but right now i think the market is okay in terms of the macro. probably needs a bit of a rest. >> united holding up all right the earnings call tomorrow will be one to listen to because of the boeing and coronavirus that oh does it. >> "fast money" begins now. >> live from the nasdaq market site this is "fast money." hi, everybody. i'm brian sullivan your traders are tim seymour, brian kelly, dan nathan and guy adami another black eye for investors and boeing the jet maker delaying the return of the 737 max again. should this be the final straw for investors? plus wrb we're following a major developing story from asia, a deadny new virus spreading fast. the first confirmed kwas in the united states. markets and the world on edge as we learn more. we bring you up to speed on what we know at this hour