to zero. >> and it may well be there's a personal relationship at the bank that causes you to stay thank you very much. great to be with you fantastic. that does it for the exchange. i'm going to board my golf cart now and ride over and join contessa on "power lunch" which i'm going to hand over to her five seconds early >> appreciate it i'm contessa brewer. here's what's new at 2:00 on "power lunch." the coronavirus outbreak is picking up steam with the first person transmission of the virus confirmed in the united states just minutes ago stocks took a hit as the fear ramps up plus, shares of facebook getting crushed after earnings the fallout and what it could mean for amazon after the bell later, we're just three days away from super bowl sunday and you will not believe how many people are betting on this game. the ceo of fan duel ijoins us t break town the numbers

"power lunch" starts right now virus worries about the market falling. dow, s&p, nasdaq all off more than half a percent. russell 2000 down more than half a per september. we're at the lows of the day briefly turning negative for the year s&p and nasdaq down 5% down from its 52-week high let's get to seema at the new york stock exchange. >> yeah and we're watching the enten year here. stocks and yields falling again as the impact of the coronavirus on the economy and major businesses continues to spread we're also watching copper that's often seen as a proxy on chinese growth trading lower for the 11th consecutive session and it's worth noting that the sell off did start overseas sharp losses in asia, europe was down b about 1%. the dow is currently off the

lows of the session, but we're still down triple digits some of the big losers, take a look at dupont posting a weak earnings outlook ibm, nike, united health, also lower then we're looking at different parts of the market responding to the coronavirus fears. cruise lines under pressure as we await test results from a 54-year-old chinese woman who was put in isolation on board a cruise ship in italy which is own eed by carnival carnival down 12% in one month what's interesting is that in the past couple of days, technology has held up well especially after those better than expected results from apple, but with facebook's result, nasdaq down 6%, a number of technology stocks are trading to the downside. real estate now in negative territory. ewe tutilities, their yield of that sector is higher by .3% just putting the ten year yield

into perspective, keep in mind the 2019 low on the ten-year was 1.5% thank you. >> all right, thank you very much the coronavirus fears hitting stocks in the centers around the world, around concerns that it will take a bite out of gdp down the line, but for now, the u.s. economy is chugging along. i guess it's chugging. steve liesman is going to tell us more. little bit short of expectations steve, is it chugging? >> i think it's a word, not sure if that's in economic textbooks, but it's going on trend. but there's concern among economists that the number is weaker than the headline with historic consumer spending and declining business investment along with multiple challenges ahead i want to look at gdp a different way. here's how much each sector contributes to the total so if you add them all up, you're going to get 2.07%. what if net trade added 1.5% due to a huge decline in imports,

that was from the tariffs. the consumer added 1.2 the weak eest in two quarters. government added a half point and total investment declined for the third quarter. first time that's happened since the '09 recession. the headline matched the weaker dee tails. trade provided all of the extra oomph. the road ahead is uncertain. there are easing but uncertain tra trade tepgss in paris. the u.k. just downgraded next three years then a potential hit from boeing's ultra production of the 737 max and the coronavirus which is likely to hurt china's economy, possibly the u.s. as well just want to share with you some economist predictions on the potential impact to china. one said they may take 0.3 off to 56. fitzgerald says they may have to revise their gdp and thebds the virus could reduce the 5.9

estimate by as much as 1.5 percentage point, all that plus other things could knock on to the u.s. >> thank you very much >> steve, if you'll stick around here for us. stocks just off the lows of the day and as we mentioned, the ten year yield sinking to its lowest level since october as fears surrounding this krocoronavirus outbreak pick up steam how bad could things get for the markets? let's bring in jimmy and scott and of course steve liesman as well jimmy, when you look at that falling yield on the ten year, what is it telling you about the concern investors have about how big this coronavirus outbreak gets >> certainly investors are nervous and we don't know how big this could spread, but i think what's going to end up is it might be a great buying opportunity for investors. if we get a sell off, people will be pretending to panic and want to sell, but i would advise

against that >> scott, how are you puing this whole situation in context >> well, contessa, if yu look from october, the s&p 500 ran 12%. usually after you get a quick, big run like that, traders are looking for excuses to take a little money off the table take a little profit i think the coronavirus was the spark for that and you know the uncertainty surround iing it but we're two, 3% off the top so it's been a very, very minor pullback and really if you look at just the 200 day moving average, that's really 10% down below the top. 10% pullbacks happen frequentlyy we want our client to be ready we want them to have a plan because as jimmy mentioned, pullbacks in the stock market in our opinion are opportunities to buy but we just haven't seen much of a pullback yet >> but we've seen china taking a hit on its economic number, steve. if that happens, if we start to

see american companies and a spread to the virus in a way that usgdp takes a hit, can you bounce back from that in a way that a lot of analysts and investment advisers are saying hey, this is just an opportunity for buying and there's pent up demand and the best is yet to come >> what the two gentlemen before me said is grounded in good history. the last five viruses we got scared about did not cause the kind of major growth disruptions. there were disruptions in china, individual countries, the developing nations tend to get hit much harder, but it didn't hit the u.s. that badly. there were some knocked off points of gdp then it came back. you always and i hate to do this, but i guess i got to be the one. you always have to also price in the black swan flu event essentially to say there is this outside possibility that becomes a major pandemic

we've been through the three different scenarios. base case, worse case and better case the base case, say a one percentage point in the gdp is something the u.s. would come back from fairly quk quickly and also something recent history suggests authorities are b able to create an outcome like that because of their ability to deal with these viruses. >> jimmy, you have a pretty optimistic view of corporate profitability. i'd liblg for you to talk about that and why you feel that way, but are there individual sectors within the domestic economy you might pull back on because of coronavirus or other reasons >> in a domestic economy, we're still thinking that cyclical c sectors are good so we're overweight in technology but we're using a barbell strategy so we have an overweight sector such as utilities. so i think a good way for them to play this is to add balance to portfolios. make sure it's not overweighted

in high value technology stocks. it's easy to chase those, but i don't think we've got a rotation back to value just yet >> to my question, are there any whether it's individual companies or sectors that you feel you would go, you know, i don't want to be in the airlines because of this. i don't want to be in the cruise lines. i don't want to be in the casinos that contessa follows because of the risk here >> those specific sectors have gotten beaten up so bad, i think they're great opportunities to buy into now many ip ves tors missed the market last year going to bonds. a lot of people have cash. that's a great way to get into some of those ralls. >> last night i was on the las vegas sands calls. the first time we've heard the executives tackling the problem of the coronavirus the coo was just as candid as he could be and said look, it's silly to think we can cut costs enough to off set what it's costing us to have an 80%

visitation drop to mckau when the picture of the coronavirus becomes clearer. >> by that time of course the stocks are going to be higher. at least in our opinion, the market's going to look through a quarter or two of some sort of disruption because the true pandemic, the situation that the market would fear the most, it all comes down to demand if there's a true pandemic, whether it's in the u.s., china, are we all sitting home not out spending money because we don't want to catch this virus that's what the ultimate you know black swan would be we want to lean a little, we've liked technology, consumer discretionary. financials we don't want our clients getting overly defensive here. we're pretty close to that if you're a 60-40 type investor

we're close to that now and we've got a little bit of a lean on pay attention to the news. we have a plan, looking at technical levels and pullback levels we want to look toward cyclical sectors because we don't think this expansion is over it might play out over the next. >> if you're investing for your return at the end of next quarter, the coronavirus should be 80% of what you're concerned about. five years, it may be 1% >> thank you, steve. appreciate that. jimmy lee, scott wren, thank you. shares of boeing falling as not everyone is as optimistic as ceo david calhoun is about the return of the 737 max. phil. >> and in particular, we're talking about one of f the pilots who's been on the forefront in terms of discussion of the max, the issues there an

when it comes back dennis, one of the pilots with american airlines. he was on squawk box today heard some comments from david calhoun and said maybe we vrnt as excited add mr. calhoun believes >> he said the pilots have experienced this aircraft and do they like it they do, but we're going to reserve that comment we like what we're seeing so far, but i think his exuberance over that is premature >> remember, you have american, united and southwest not showing you southwest right now, that are waiting for the max to come back hoping that it's by the middle of this year also delta really you see a number of airlines under pressure for a variety of reasons including the coronavirus and speaking of southwest, as we look at shares, there's a government report. the inspector general looking at the safety practices of southwest airlines "wall street journal" out with a report, an initial look at that

investor, the inspector general report it blasts southwest safety record we reached out to southwest airlines it denies it is relaxing its safety tstandards, but this stor is going to get more attention when that report comes out so lots of airline news, guys >> phil, have you gotten any indication that american customer, american passengers, and i don't mean the airlines, i mean u.s. passengers, are canceling flights out of concerns of getting sick >> yes, that's why the airlines are scale iing back their flighs this is not done because the airlines are saying we're not sure what's going on it's bottom line decision. their flights are 25, 30% full look at the companies who have canceled executives traveling to china. >> what about dmesically >> no. are there people saying i'm not crazy about getting on a plane no we're still seeing strong demand generally speaking for the industry here.

coronavirus is not a concern for people who are flying within the borders of the united states >> phil, thanks. coming up, big earnings stories of the day facebook gets crushed. the company's spending eats into the bottom line. what analysts are saying about those results and speaking of big spenders, not you, tyler, amazon reporting after the bell. will the company deliver we'll get set for that report, xtn ow lch." ♪ ♪ ♪ ♪ ♪ ♪ don't get mad. get e*trade, dawg.

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shares of facebook down big today. almost 6% on pace for its worst day since june as the company's expenses rise. julia boorstin is is joining us now with more on this facebook fallout. julia, it just continues >> well, facebook beat expectations across the board but investors have gotten accustomed to bigger beef and now investors are -- that revenue will continue to deaccelerate as global privacy regulations continue to impact the company. we've counted six analysts who have counted their price targets on the stock one who has downgraded the stock, but still 87% have a buy or overweight rating on

facebook the bull case, jpmorgan recommending investors buy the pullback as the company's 2020 outlook changed and bank of america saying they remain optimistic on usage growth, commerce, marketplace explore and payments on what's app the bare argument by pivotal which downgraded from buy to hold, saying the slowdown particular ly in the u.s. was greater than expegted and the slowdown sounds likely to persist. back to you. >> thank you very much facebook is not the only fang company reporting its earnings today. amazon set to announce those results after the bell shares of the tech giant have been disappointing lagging the s&p 500 by almost 10%. investors are going to keep a close eye on amazon's shipping costs as they would they would

spent $1.5 billion joining us now is benchmark's daniel kerrnos daniel, welcome. good to have you with us >> take us through the numbers you expect and focus on the one that we just drew attention to and that is how much they are spending to do this one day delivery >> this is a company that could do 86.5. to have upside, that's pretty similar. now our view here though is that a lot of the upside, the share gains are going to come from this mid shift to one day so we're below the street on operating income about $2 billion here and that's because of a combination of that negative mid shift and the fact that we expect amazon's not

going to take its foot off the gas and keep investing to keep building out the one day delivery so i think one day is going to be the focal point heading into earnings tonight >> is one day delivery going to be a profit driver or weight for amazonand i ask because i wonder, i guess they, these are smart, smart people. they must know that the one day delivery increases sales and will be profitable for them, but i think on my own, i don't car . it's the rare case where i care that something would be delivered the next day >> the numbers tell you that consumers care we've seen a significant uplift in revenue growth already. yes, look, long-term, absolutely one day is going to be a profit driver for them. where i think maybe we're a little different in our view is timing of that i've seen a lot of people out there talking about 2021 being some sort of hockey stick in

profit if you look at shipping costs, two day, sure. i can see getting something from point a to point b at a reasonable price, two day. getting something to somebody in 24 hours unless you have distribution within say like 100 miles of every place you deliver to, that's a big task. so amazon near term is going to have to rely on a lot of third party carriers to do the initia lift then probably have to build out more distribution themselves to get to that profit metric i think the big thing is going to come from share gains tla get from building out the one day program. >> and they are billing out distribution centers i want to focus on cloud for a minute because most of the revenue is coming in from amazon web services, but we've seen it slowing somewhat and we've seen azure growing. how much of a threat is microsoft to amazon's bottom line cloud growth? >> you know, aws, they're one of the biggest profit centers that the company has and you know, we also believe growth will slow

again this quarter to about 30%. i think that azure creeping in has had some impact on amazon and i heard you guys mentioning regulatory risks, pertinent to facebook as well we've seen a lot of question marks about amazon and some of the government contracts here, too, so that bears watching as it relates to amazon's profit. that being said, aws is the biggest, best thing there is in cloud and i don't think that's quoing to change so you know, i still anticipate very healthy growth and healthy profits from aws for amazon >> daniel, thank you very much >> thank you coming up, we'll hear from a hedge funder who double d his money last year. amazon one of the key reasons coming up and talk b about a ship wreck ups falling after its results. fedex down in sympathy up next, we'll hear from a trader who says these names are a no touch he'll explain why. robinhood believes now is the time to do money.

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eer and chief justice roberts had to step in >> senator from kentucky >> i have a question to present to the desk the presiding officer declines to read the question as submitted. >> now the chief justice has tried to stay out of the way during these proceedings this is only the second time he has directly intervened, but his approach is being closely wat watched because it looks like this vote over witnesses could be tied 50-50. roberts could break that tie, but many assume he would not and that means the effort would fail so now some republicans are talking about ending this trial and moving to acquittalas soon as tomorrow and guys, even some democratic senators who are running for president are scheduled events in iowa on saturday so that gives you a sense of where they think this is all headed. >> back back to you. >> that is fascinating

let's get to seema now for trading nation >> hey, contessa ups falling to a six month low after fail iing to deliver on 20 guidance that's pressuring shares of fedex as well. let's bring in the trading nation team. gina, what do you make of the stock? >> welke look, ups is really struggling because they have to continue to invest in order to build for automation and really deal with the fact there's more and more pressure on the entire air freight space so both fedex and are seeing declining margins. demand for a lower margin, lower cost services. and that's just going to continue to pressure them. i think these investments for ups will eventually pay themselves back. but the outlook now is very negative with declining global trade volumes. >> mark, the technical picturpi, what are you seeing? >> neither of these has that

much appeal near term. both have been in a persistent downturn since 2018. as you mentioned, this just broke down new six month lows. my thinking is it gets down to 110. technically, it's likely going to play catch up u fedex has been down almost 50% in the last two years since early 2018 so of the two, i'd be more apt to buy fedex it has been trending lower but has started to stabilize and technically, i think that's a bit better bet right now >> yeah the big competitor, amazon, which reports tonight. thank you. for more, head to our website or follow us on twitter >> thank you very much ahead on "power lunch," the cdc reporting the first human to human transmission of the coronavirus in the u.s. and that is creating new jitters on wall street we'll have the latest details for you next plus, not every hedge fund had a great year, but bill miller did. thanks to a few key investments. we'll hear from his son and

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welcome back here's your cnbc news update at this hour. in her morning briefing, nancy pelosi warned that a sham trial does not amount to an acquittal of the impeachment charges against president trump. >> he will not be acquitted. you cannot be acquitted if you don't have a trial and you don't

have a trial if you don't have witnesses and documentation and that i would hope that the senators, if it comes to a tie or if there's a question of hearing testimony or proceeding documents would leave it up to the chief justice of the supreme court. >> but at his briefing, kevin mccarthy had a different view, saying looking forward to the end of the trial on friday >> what the president did was not wrong. it's not impeachable and the bipartisan vote inside the house actually proved that going against every requirement that speaker set forth and i look forward to on friday, this being over and hopefully we get back to america's business. >> you are up to date. that's the news update this hour contessa, back to you. >> the dow is off lows of the day now, just down u about 100 points the s&p is off about half a percent. the nasdaq about the same.

you've got to russell 2000 down .9% >> oil prices are falling today. lowest level since october dom? >> risk aversion, the theme in global markets again including oil where benchmark u.s. crude price down nearly 3% today world benchmark, brent crude prices down by a similar percentage amount. now the count rising here on both the number of those infected with the coronavirus and number of those who have died, oil traders are among those looking toward the world health organization's meeting today and whether or not it will call to lead this to a global health emergency or not. add u.s. oil inventories and you've got the downward pressure continuing on oil prices on a related note, check out what's happening with copper down a percent working on an 11-day losing streak for u.s. copper prices. that would be the longest run on record losing streak wise in

data going back to 1988 for those e prices, so oil, copper, very much feeling the weight of that coronavirus scare back to you. >> thank you for that update and coronavirus weighing on the markets today. let's get you updated on the latest news, now we have 8,248 confirmed cases worldwide. more than 8,000 of those this mainland china, which is more than the entire sars outbreak from 2003. the cdc confirmed the first case of person to person transmission in the united states meg, what are you learning about where we stand in terms of diagnosing this virus? >> well right now, the cdc has to do all of the tests at its headquarters and they are trying to speed that up and distribute the tests to states and other public health officials elsewhere. so that the tests can be processed a lot faster a few details for you about the first case of human to human

transmission in the united states it was the husband of the confirmed case in chicago, a woman who had traveled back from wuhan, china, earlier in january. so he was her spouse they are emphasizing that was obviously close ontact they lived together. they're currently both in the hospital and we hear in stable condition and doing fairly well. they are now tracing the contacts of both of those people, the typical public health response, to try to further isolate any spread but the cdc does emphasize they believe the risk to the general public is low. we also are waiting for any word from the world health organization and its meeting of the emergency committee to hear whether it will declare this a public health emergency of international concern. remember last week, the committee met for two straight days and declined to make that declaration. if they do today, it would be just the sixth time following two outbreaks of ebola, sayah

kai and yoer outbraeblgs of similar concern. finally, we'll update you on the italian cruise ship that had been b blocked under suspicious of a case of coronavirus on board. that person has been cleared does not have coronavirus. so that's the latest and we'll bring you more from the w.h.o. when we hear it. >> meg, if you wouldn't mind sticking around, we'd love that. concerns around the world remain heightened as the number of cases are rising and many cities in china remain in lockdown mode let's bring in dr. torres. wonderful to have you with us. we heard yesterday from tony fauchy at a press conference at the nih that the cdc is close to developing a rapid diagnose nti toolkit that could be distributed relatively soon. how helpful would that be? >> very help fful. one of the keys here and like meg was saying right now, everybody has to send their samples to the cdc so there's a little bit of a lag and delay

there. they're looking at getting these tests and farming them out to states and public healthing agencies around the country. that means they'll be much, much quicker. today, they said they're working on a ser e um u test, a blood test, that can look at people and see if they've been infected even if they're not showing symptoms one of the big emphasises today during the cdc conference earlier was that nobody needs to panic over this right now. there's still no sign at all that there's think kind of community spread in this and like meg said, the one human to human transmission was very close contact and they knew it was going to happen. they said they knew they would have at least one, probably a few more, too. >> do we know about how the victims of this illness are being treated? particularly over in china, but around the world, and whether antiviral medications are effective or not >> so at this point, there's no antiviral medications that seem to be effective, but they are looking at different ones especially ones that have

treated other viral type infections in the past and they're seeing if they can help. but right now, there's nothing other than supportive care bringing them in, putting them in ice laigs and making sure they're taken care of oxygen wise, iv fluid wise and letting them recover themselves. if you've looked at the deaths, the majority have happened in older adults that's pretty consistent with these types of confections and the cdc saying yes, older adults and those with immune system problems are of heist ri highest risk >> i'm sure you're probably hearing it in the kitsches at 30 rock feller center we're hearing it here. there's a lot of concern about how worried should i be at this point? i got to ask you, especially when you look at the cdc's flu numbers in the united states where my january 11th, 6600 people had died. 18 million people had gotten the flu this season line and we're not closing down cities,

airlines, putting up barriers at the border because people might feel sick so can you put that into perspective >> ha a will the of experts are saying is the biggest epidemic is the one of panic. a lot of people are getting overly concern ed about this coronavirus. part of the reason is because it's a new virus we've never heard of it. it's spreading very, very quickly as opposed to the flu where we hear about that year in and year out and we kind of get immune to that so to speak we don't think of it as that bad of a disease even though it is so they're hearing about this thu virus. they're overreacting to a certain extent and that's why the cdc -- >> is china overreacting >> i don't think they're overreacting because they're the ones at the epicenter of this and they're doing what they need to do to contain it. they have the majority of the cases. but what the cdc is saying we know it's in china, they're doing a decent job of trying to keep it under control and they said the main thing you can do today for yourself are the things you do during flu season.

wash your hands. cover up when you cough and sneeze and pay attention to the news, to your public health authorities in case things change this is a new virus. we don't know much about it but we're learning as we go. >> would you travel the to china now. >> i would not certainly not to wuhan, but no b problem traveling to other parts of asia. >> thank you very much p >> you bet >> treasury yields under pressure today with the ten year sinking to its lowest level since october. rick santelli is tracking the action at the cme. hi, rick hi and indeed, those comps are changing quickly are respect to how fast rates are dropping. if you look at intraday of two year notes, we're hovering at 137. some key historic lows around 139. on a closing basis, we just took them out look at, open the chart up the summer of 20 subpoena. because should we close under 139, it certainly looks like we

will, it will be the lowest since september of 2017. as you move down the curve, all these longer maturities are also keying in on important levels. look at ten down five basis points for a while, we were at 1 153. open the chart up to july. those bottoms in october with 153. all of this is is playing havoc with the yield spreads you look at a july start to three months, it looks like once again we're going to close them in negative territory. tyler, back to you >> up next, we'll hear from a head of a hedge fund boasting returns in 2019. how did they do it plus, tesla shares soaring we'll tell you who is driving away with the award thanks to a

160% gain in tesla since that person picked the stock. we'll be right back.

we have breaking news on the coronavirus. meg? >> contessa, the world health organization has declared a coronavirus outbreak a public health emergency of international concern. they are saying they are doing this not because they don't have confidence in the way china is responding to this outbreak, but because of the concern it could spread to countries with weaker health care systems. remember, they met for two days last week and declined to declare this that public health emergency of international concern and now they are doing so after seeing the broader spread and again as they say they are worried it could spread to countries that aren't as well prepared to deal with it now we are wayi ihear whether t make any recommendations with travel and trade it dwifs it further per view the make those kinds of recommendations internationally, so we will wait to hear those

and we have the sound of them making the declaration listen to what the director general said >> international concern over the global outbreak of coronavirus. the main reason for this declaration is not because of what is happening in china but because of what is happening in other countries our greatest concern is the potential for the virus to spread to countries with weaker health systems and which are ill prepared to deal with it let me -- >> so that's the director general there saying again this is not because of china's response and he actually went out of his way to commend china saying they may even be setting a new standard for outbreak response, guys, but we are getting that public health

emergency of international concern for this coronavirus >> that might be porpt because of the skepticism of people who have worked in china in the past are bringing to bear when they're looking at the numbers then china's response. in the meantime, this declaration by the world health organization, especially where it comes to other countries who may not have such strong health standards, does the world health organization have any sort of power over these countries or is is it just influence >> that's a really good way of putting the question, contessa it doesn't necessarily have authority to do things in those countries, but this declaration does give it a sort of more cover to make recommendations and to strongly emphasize they should be taken and we will see whether they recommend any changes to travel and trade based on this. we haven't often seen them do that bf for concerns over whether that could affect country's willingness to report things accurately so we'll bring

you that news when we get it >> quickly, what conclusion if any can we draw about the chinese response to this illness given the rapid growth from fewer than 100 or so cases a week ago to now in the multiple thousands of cases do they have their arms around i it or not or can we conclude. >> it's hard to conclude, tyler and it's different depending upon who you talk to the world health organization is commending china for its response he said we would see many more cases around the world and potentially deaths if china hadn't acted the way it had. however you hear skepticism from folks including dr. gotlieb because it's better than how they responded to sars, not because they're at least being forthcoming in a way that's good compared to other countries potentially. so that's still sort of a jury's out now. >> thank you for staying on top of it. in the meantime, it's a big

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welcome back to "power lunch.

a record 26 million people are expected to bet on sunday's super bowl between the kansas city chiefs and 49ers. $6.8 billion expected to be wagers according to the american gaming association. that handle is up 15% from last year matt king, ceo of the daily fantasy sports provider, fanduel -- it's way more than that now, matt we're talking about this big influx of betters. is that because more states adopted legal sports betting and there's more sports betting going on or are you attracting people who previously wouldn't bet illegally? >> we're attracting both you have a bunch of new states that launched. you have places like indiana and pennsylvania that are due this year to the legal sports market. you also have more people in states like new jersey where this is the second super bowl where they've had legalized sports betting betting on our platform you're seeing growth across the board. >> you have a point and a half spread between the two teams does that increase the

excitement and the energy surrounding betting on this game >> it's hard to increase the excitement on the super bowl there's such great energy around every single super bowl. i would say people are looking forward to this one more there's more balanced view of the 49ers versus chiefs than last year where the patriots were the clear favorite among the crowd. >> we were talking yesterday about the deal with bar stool sports we've seen their share price skyrocket. i want to mention if people want to invest in your company, your company is flutter, which is listed on the london exchange. they came out with a note that said, look, it could lead to pen taking 10 to 15% of of the national sports betting market how much of the market share are you aiming for >> so, we currently have north of 40% so, obviously, we're competitive people we're going to look to keep that share for as long as we can.

>> is sports betting a gateway to other gambling? in other words if you get somebody who opens an account to bet on games, do they then go on and spend money on blackjack or poker or roulette or whatever? >> absolutely. you see people -- we call it cross in various products. and these are people that typically go into land-based casinos, as well, or do other types of gaming. it's more about their customer segments that like to gamble on different things when they like to do one time, they likely to do more. >> who is more profitable? the sports book or the other stuff? >> typically the casino is more profitable so, yeah, we look at it across all products. >> one final quick one are you talking to any professional sports teams about locating kiosks or betting facilities in their stadiums >> so, we actually are the only

ones that operate a sports book next to a stadium. we don't have it in the stadium but next to jets and giants stadium is the meadow land sports book, which is the biggest in the world we're looking to replicate that model in other cities. >> matt king, thank you for joining us have fun in miami! i'm a little jealous cnbc's parent company are investors in fanduel tesla's tear turned the stock draft into a run away with only one day left before we crown a champion, we'll tell you who is in the poll position next on power lunch you can watch and listen to us on the live on the cnbc app. we'll be right back. t or more on car insurance? do woodchucks chuck wood?

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the moment you've been waiting for is almost here just over 24 hours away from the finale of the 2019 cnbc stock draft. the winner will be the team with the best performance from the draft day last spring until the market closed tomorrow friday before the super bowl a tight grid so far but the new york met pitcher pitcher noah sd has taken the lead

amazon set to report tonight can he hold on to the top spot we'll find out they'd have to have a bad day. that's the finale tomorrow. >> our producer said amazon would have to drop 30% thank you for watching "power lunch. hello and welcome to "closing bell" i'm sara eisen at the coca-cola post at the new york stock exchange. a strong earnings report the overall market, though, turned lower in a volatile day 59 minutes left until the close. we'll have a look at what is driving the action earnings front and center with a number of sharp moves in names like ups, facebook, and tesla. the coronavirus epidemic continues to put pressure on sentiment that the w.h.o. declares a global health emergency. the big driver will be amazo