n be more strict than the county, but you can't be less strict you have to take the county's ordinances as a baseline, if center cities have different issues, they can be more strict. >> seemingly lots of layers when it comes to reopening and doing so safely and effectively for the businesses down there. thank you for joining us thanks to you for the help this hour and to mike santoli. welcome to "squawk alley"." we got covid news, vaccine data, stimulus negotiations, but it seems like mega caps are making a stand here this morning. microsoft's leading the dow. amazon is up 4%. ibm tonight along with the busy calendar of earnings in the next four days. >> absolutely right. i'm trying to take a step back further and look at what's happening more broadly in tech i see this digital infrastructure trade taking shape today. look at peloton.

it's up 9% you think about the digital infrastructure for fitness, a time when it's kind of hit or miss whether people can gather inn provides some of that not just in the bikes but in the apps spotify up almost 7% twilio, which provides payment and tracking services, data services, those apps up 7. service now, amazon up considerably most of those stocks also up quite a bit over the past few day days >> you're right on peloton, wedbush puts them at $66 saying a blowout quarter is possible. mark may joins us this morning to talk more about this. mark, good to see you. welcome. >> thanks for having me back >> after a week when people wondered if this trade was still

fresh, is today another reminder that it's hard to keep this narrative down >> sentiment in the tech sector among investors varies depending on the time horizon especially now with earnings. investors in general in tech are bullish. i know that for the most part stifel research analysts are bullish over the medium to long-term. there are differi ining views a relates to short-term earnings the netflix earnings, i would use that as a barometer for things to come over the next week or two. strong q2 results but a bit conservative in the outlook. you know, you might see more pull backs like we saw with netflix in the short-term. what you will generally be seeing is investors buying on those dips and the analysts community supporting these stocks in general.

of the names that will report this week, which ones would you suspect get that kind of reception post earnings >> well, stifel research software team this morning came out with a preview of microsoft earnings again, i think that's what is coloring my commentary of netflix is probably, you know, an indicator of more to come where strong q2 results may be tempered a bit with a little bit more conservatism around the guidance with a reversal here, and going back to work in some states, it's creating uncertainty as management teams look to set guidance i think you'll see tech investors buying on weakness still bullish on microsoft but maybe a short-term pause >> mark, if you are an investor,

not a trader, and you're looking at tech, i suppose you're probably wondering how much great news is priced in. just not news on this quarter but the overall trajectory what do you think is left in the tank not just for the big mega cap stocks but for this digital infrastructure trade in general? is there still a positive story to be told where investors can get in now and expect growth >> absolutely. what the pandemic has done has pulled forward not so much demand, but it's pulled forward, you know, cloud projects as an example, where large multinational companies may have had a five to seven-year transitional period in mind, and they moved those projects up cloud migration projects can take several years i think that this is durable

demand that's picked up. yes it's true that amazon prime has deep penetration in the u.s., but this is a global pandemic it's likely to drive subscription and e-commerce usage for a number of companies not just in the u.s. for late adopters but in other markets that represent equal to if not greater opportunities for u.s.-based tech companies to drive market adoption sooner than they and investors forecasted so i think that's very bullish for the medium to long-term. >> how do you separate the sheep from the goats here? not every technology company has a great platform from which to grow ebay and shopify are not the

same, for example. what things do you look for to determine who is better positioned >> coming into this pandemic with a strong balance sheet is certainly important. and so i think part of it is looking at how financially stable these businesses are. it's not easy to raise capital now. there are a number of small and medium-sized companies doing okay prior to the pandemic their business exploded but their challenged to raise can tall in this environmecapital in because of the uncertainty is this a one-time benefit or not part of it is looking at the balance sheets and looking at the management teams ability and history of executing pre-pandemic will certainly tell you a lot of their ability to

continue to perform going forwar forward. >> mark, we always talk about china risk it's always the third or fourth question, what about china after attorney general barr's speech last week at the gerald ford museum where he actively named names, referencing apple, google and disney. to what extent are these companies expose the not just to the decoupling of the economies but to active scrutiny by law enforcement in this country? >> the fortunate thing for many tech companies is there's not a tremendous amount of exposure to china. they don't source their product or own technology out. there are exceptions but in general, they're not overly dependent on the chinese market either as a source of supply or for demand it's not an issue that frankly we hear a lot of companies that

we hear at stifel on the investment banking side, we have a lot of issues with the bigger issue is on our own home turf where large cap stek tech is under scrutiny and the opportunity that might present small and medium-sized tech companies many of which are clients of ours, but benefit as there's more scrutiny on large cap tech here in our own homeland, frankly. >> you could always broaden it to say if china is not a concern maybe it's digital taxes in france the lost promise of international growth, that narrative remains. >> yeah. the international market is important for most large cap companies. i think you're calling out a good risk factor here for the

large cap names. it might be one of the reasons why you want to focus -- if that's a concern, you knfocus on the mid cap tech space which is not as reliant on growth from outside the u.s. and have plenty of runway to grow here domestically >> yeah. that's good stuff, mark. we love chatting with you. always appreciate the insight. we have a big week ahead thanks for helping to set us up. >> have a nice week. coming up, the executive producer of "the office" is on the other side of this break as nbc universal gets peacock off the ground in a crowded streaming space. we're back in a moment

♪ come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪

save without even we'leaving your house.g a way to keep on pushing. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you only have to pay for the data you need, starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. 5g is now included with all new data options. switch and save hundreds. xfinity mobile.

welcome back the dow, s&p and nasdaq trading pretty much in a range this morning. the dow near the break-even point. the s&p also nasdaq has been doing better than the rest, carl. we started off this morning talking about tech stocks. you mentioned that peloton sort of got a little bit of a boost from the analyst community it's not just that this idea of digital infrastructure, think i, that's where i see a lot of the trading going. dropbox for example, up 8% this morning. twilio up close to 8%. certainly a lot of investor

attention going towards some of those stocks that are fueling continued economic activity despite the fact that in-person gatherings and in-person business is not anywhere close to coming back to normal >> yeah. it's true. dropbox got an upgrade from jeffries, they go to buy zoom, amazon and citrix are the top names on the nasdaq 100. it points to an interesting thought process that the market is in. we get, for example, good vaccine data today if we went back a month, you might see some of these digital names suffer as a result but not today. it makes some wonder whether or not we priced in some element of good health care news because we have been unable to surge on that front given the data we got. >> yeah. there is that. as we've been talking about all morning we'll get earnings information, earnings data this

week normally guidance factors into how stocks trade in the situation we're in now, a lot of companies won't give the same kind of guidance they normally do. there's a backdrop of a different type of uncertainty, companies having to open up and roll i peexpect to hear that on the apple storefront how they have to open and close stores we don't expect them to tip their hand about the iphone launch and how that will go. certainly investors will be looking for signals from that company about whether they have been able to build up and continue to manufacture the same amount of product supply that they normally do during these periods. we are keeping our eye on the major indices.

the dow down 66, s&p up about 8 points we'll be right back. (mom) come on, hurry up! all systems go? (mission control) 5 4 3 2... and liftoff. (vo) audi e-tron. the next frontier of electric. get audi at your door remote services through participating dealers. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today.

stocks by the slice from fidelity. we're committed to making college more affordable., that's why we're keeping our tuition the same through the year 2021. - [student] i knew snhu was the place for me when i saw how affordable it was.

- [narrator] find your degree at snhu.edu. media companies are attempting to capitalize on the streaming demand peacock entered the fray last week here to break down the content

is ben silverman you have content that you made for netflix, hulu, apple tv plus, you have a podcast on spotify. handicap for us, give us a sense, given where we are now, which structures look especially smart now, which structures don't? i'm thinking peacock coming out with a model that it has, and maybe some others that haven't done so well quibi for example. >> i love the way peacock and nbc universal did their up-front i watched liz lemon and the "30 rock" special on cnbc. i thought that was a brilliant take appealing to a group sitting on the sidelines, the advertisers who have been left out of the streaming wars and thought it was brilliant to launch a free tier we'll see how it manifests

i think an advantage to companies like nbcu and comcast and hbo warner brothers and disney is the fact they have this library content in a moment when we can't be in production we're literally not in physical production yet so there's going to be a lag for originals. netflix was ahead with that, but when you looked at the library content for peacock, including "the office" it made me think there's an advantage due to what coronavirus is doing to physical production and i think there's so much choice, free is an easy option >> yeah. library is a gift that keeps on giving because there are these ancillary possibilities for content like this podcast you are doing on spotify that's a

behind the scenes about the office how did that come together and why is that worth money? we were doing it to celebrate our show it's the first take on the show by us, the producers and creators and talent in the show. so we wanted to tell our story and comment on what happened and hopefully, you know, drive conversation and communication about the show culturally towards when we launch on peacock and keeping it, you know, unbelievably relevant for the audience i am concerned about they're waiting into ecosystems that are not great for the consumer i don't like that amazon is not carrying peacock or hbo, and i then worry will comcast throw amazon off their platform in retaliation?

and then how will the consumer find the content as as a person that cares about their shows and how it reaches the audience, that annoys me you used to have ala cart, on demand when you want it, now there's a system where you nehae all these walls. do i need ten devices to watch ten different services the consumer won't do it i think that will be a big frustration for the big players. >> we were in a moment where we were thinking about, okay, we have ten subscriptions, i don't want to manage ten subscriptions. i thought we might be in a chapter where there was a reaggregation of content, but you're saying the silos are getting deeper and more narrow >> looking at this spat with roku and amazon service platform replicating the mso model, we're

in a situation where you're seeing people potentially not access their content through the platform they choose to aggregate it part of the battle with hbo and peacock relates to the fact that they are part of conglomerates a it it and comcast that deliver wifi and broadband so there's so many levels to the fight. is it about the pipe entering the home the content being produced through that pipe? is it about the system and service aggregating that content that then puts it through the pipe and what is really a disservice to the consumer is if those battlegrounds lay bear and if everyone is asking for the piece of the pie, is the pricing going up and will the access be more difficult? i want a remote control that i can talk to that allows me to search from every service i sub

skr subscribe to all the shows that i want to see when i want to see them this recent battleground could end up frustrating consumers >> that's interesting. i have to ask you, i'm fascinated by all oral histories about any movie, broadway show, album, you name it i think we're in a period where consumers want to see how this whole thing got made and how the players were thinking when they were making it i read correll didn't think this would be the cult classic it became >> none of us did, including the chairman of nbc at the time. to be clear on "the office" everyone passed. we had one buyer for the show if you want an indication of how many people thought it would work at the time we struggled to get a rating and an audience i think over time the quality of the content found an audience

and a new generation i can't tell you whow many of my friend's kids want to know who the scranton strangler is. i look at somebody's son or daughter and i see the adoration in their eyes towards me because of my relationship with "the office." i did a lot of shows, had a lot of jobs, but now when i'm on a plane meeting someone or am introduced, all i answer when someone asks me what i do, i say i produced "the office." i don't need do anything else. it's a drop the mic moment steve is one of the many people who contributed brilliant work to it, we were kind of in a little bubble on our own, trying to make the best show we could that also made us laugh. we enjoyed the show. i think that comes through 15 years later. >> ben, you propagate, develop,

produce, distribute content for a living, but developing it and producing that is a big part of that given all that's shut down what are you doing right up no? is that where the podcast comes in >> absolutely. the timing of that is good we're finally starting some production we produced the bear gryles show we were able to shoot in iceland, which is a place we wanted to go any way because it's so beautiful and also safe. we were able to shoot some episodes of our cooking show "chopped" which we make for the food network outside, which also, you know, opened up the possibility for safety and protection and we're just trying to be as smart as we can, as creative as we can about creating the content and producing it we have been developing and

inspired right now this is a moment to come up with content that's informed by what happened with covid butgives the audience a place to retreat to and enjoy and learn and grow. i think there's also a lot of us who really want to use content more and more to unify our world. we're as anxious and concerned as everyone about where the world is going and as somebody who created and pushed jane the virgingly betty and the biggest loser to help people lose weight, i really care about the world. so do many of us i think we're looking to tell stories that inspire that makes sense now may be a good time for a series remake of "castaway." >> that's what she said. that's what she said i had to put that in >> ben, thank you. european markets set to close in just a moment

seema mody has that breakdown. seema? >> jon, stocks are mostly higher across europe, but perhaps getting more attention is the eurozone currency. trading at a four-month high versus the dollar. as leaders in europe locked in talks since friday appear to be getting closer to agreeing on a stimulus plan that will include a combination of grants and low-interest loans the size of the fund is being determined talks continue tonight in brussels analysts say this plan is critical to keeping borrowing costs low in nations like spain and italy. it's also a test of integration between the 27 eu member states. speaking of italy a merger may be in the cards between two banks. intesa san paolo in talks. and beijing could impose export controls on nokia and ericsson if the eu bans to move huawei 5g

technology to networks and dominic raab announcing in the last hour that the uk will suspend its extradition treaty with hong kong and extend its arms embargo on china to include the territory. this, of course, in response to china's controversial new security law on hong kong. the latest rise in tensions between beijing and london thank you. for us. ne starting phase four of its reopening today. governor andrew cuomo says large groups not following social distancing rules could force rollbacks. he's calling on local government is, and police departments to crack down on big parties at bars and restaurants >> the bad restaurant and bar owners are going to make it worse for the good ones. we're going to have to roll back

the opening maplan we're going to have to close bars and restaurants >> the fda has given quest diagnostics emergency approval to begin pool testing for covid-19 this move will speed up testing by allowing samples for up to four people to be analyzed at once if there is a positive result, all four people will need to be retested sports news, a rare lebron james rookie card has seat bet record it sold for 1$1.8 million at auction. this autographed card includes a piece of a jersey that lebron wore in a game that's our cnbc update for this hour carl >> incredible price. thanks, frank. when we come back, we'll talk about this move out of jeffries, raising its price target on amazon to 3,800. stock is up more than 60% this year is 4,0 aunthcoer00rod e rn we'll talk to the analyst in a moment

for smarter trading decisions. fidelity.

we mentioned amazon before the break. swifter, snap and others are moving higher. julia boorstin has information on why >> twitter up 3%, snap up 2%, and pinterest up 3.3%. twitter earnings come out thursday morning luke capital says advertisers survey suggests internet advertising is recovering ahead of expectations. they prefer stocks and valuations less stretched and saying they believe snap has the best overall fundamentals. goldman sachs out with a note saying snap has seen out performance on data and improvements in underlying usage while the gap between growth and digital stock performance leaves them bullish with snap and

twitter along with amazon. twitter, despite that hack last week, is on pace for its best month since june of 2018 carl >> julia, we'll watch those names along with mega cap tech as microsoft up almost 2.5% leads the dow. interesting morning taking place. thanks take a break here as we the mesome of esnas. we'll be back in a minute.

jeffries is taking its price target on amazon up to a street high of 3800 this morning. the analyst behind that call joins us now good morning >> good morning. >> okay. so amazon's up 30% since reporting earnings last quarter. you put a price target on it that's 20% higher than where it is right now why is that necessary? >> i think if you made the opposite call at any point on amazon you've been wrong

we just continue to see a fundamentally great story and it has multiple levers. the aws business and cloud computing, we're working from home we're ordering everything online the advertising business is flourishing now. we continue to have great checks on the ad side so we think the inventory has been restocked they have gone from essentials to nonessential. and e-commerce as a category does fantastic so we recognize the 60% run year to date. we don't wantto run investors over a cliff on this again, we continue to look at the sum of the parts so we take six parts of their business, we apply different multiples to the business. no one thought software would have a 25% multiple increase going in to covid. the aws business continues to thrive and is generating not a higher multiple relative to the rest of the software industry. it's multiple factors that play

into where we get to our price target >> are you doing a similar look at some other stocks that you're taking up price targets significantly either in the e-commerce space specifically or internet generally >> we brought our price target up on microsoft as well. the challenge with tech is tech had a huge run we think the fundamentals are behind the sector. so each one of these names we're looking at differently microsoft is trading at a high in terms of earnings multiples that's the case for us in tech tech continues to work despite the multiples we've seen we think, again, what's really happening is just the other sectors, whether it's energy, banking, other retailers that are physically shutting their storefronts is receiving this new capital and inflow this is a portfolio manager reallocation and we're

continuing to see, again, fundamental shine in tech. multiples are there as well. we're cognizant of that. that's a big risk factor going into this earnings season. >> an important read on some stocks, one in particular, amazon, that investors have been paying a lot of attention to brent thill, thank you. >> thank you. getting some reporting on this meeting at the white house between the president and leader mcconnell. let's get to kayla tausche good morning >> good morning. we are just watching that video come in of the oval office the top republican leaders from capitol hill are talking about their priorities for the next stimulus package the treasury secretary said they will focus on jobs, kids and vaccines that there will be tax incentives and credits for schools that are able to open safely and other businesses. they kept the conversation high level, but there were a couple points of interest that we

should highlight the first is that the president doubled down on that payroll tax cut. when he asked the room about support for that, he did get a nod from kevin mccarthy, the top republican in the house of representatives. he just got a smile from mitch mcconnell, the top republican in the senate, where support for that payroll tax cut has been hard to come by. the president said he will be resuming the coronavirus task force briefings, that they will likely happen at 5:00 p.m. beginning today or tomorrow to continue to update the nation on the efforts to get a vaccine and to develop a more therapeutic. mcconnell said he will be socializing this set of ideas with republican members in the coming days to wretch a c s ts s on what republicans want to put forth to their counter to what the democrats passed back in may. back to you. >> all right kayla we'll be tuned in tomorrow

for the first of those briefings to return. kayla tausche with an update on what we're getting out of the white house today. tiktok facing potential bans in multiple countries as the company tries to distance itself from its parent, developer bite dance. our next guest calls the platform the best social media platform at the moment, but admits she uses a burner phone to access the app due to its privacy concerns recode's co-founder kara swisher joins us this morning. >> hi, care ra >> good morning. >> so what do you think about this app >> i like how it's delivered

i think it's good. so it's a great service, it's a great tech product the issues are the nervousness around china and security and things like that so, you know, even though i feel stupid using a burner phone, i feel better using a burner phone. there has been no proof that they are stealing data any more than the facebooks of the world or the googles, but it's still a concern. that's what i wrote about. what a lot of people feel about tiktok, teens are fine and dandy using it completely. >> yeah. can we detect any -- a footprint or a fingerprint from kevin maher on the platform so far >> i don't think so. the reason i wanted to write about it is i think this is a company that will go public in the united states and be a separate company they had talks in london to set up a separate london office to separate it from china even though it's founded in china

it has a beijing headquarters, to assuage worries around it especially with huawei and other chinese companies. the reason i wanted to write about it, i wanted to write about an ipo of a company that could be a real competitor to facebook we always talk about no competitors to facebook, i think tiktok is. it's like a turbocharged snapchat you just talked about snapchat doing great. i always thought snapchat was innovative and interesting but it's small you could see this becoming a global phenomenon in an interesting way. if they were a u.s. company they could buy snapchat so i wanted to start the discussion about that topic and talk about the worries of chinese ownership. >> my feeling about tiktok, i don't use it for security reasons as much as anything else i'm kind of on social media overload but here's my problem with the tiktok attacks on the one hand, the federal government is saying this is bad. the chinese government can

demand access to the data from the app. the u.s. government seems to want to demand access to data from a lot of apps and not have a problem with that. then also i wish this were framed in terms of policy about u.s. citizen data. i don't care whether it's a chinese app or a cuban app or a venezuelan app, shouldn't there just be a policy about how citizen data is treated and -- >> 100%. >> some company based elsewhere is in violation or can't prove they're in compliance and that becomes the issue? >> there should be a privacy bill let me contrast, the government in china -- we have a difficult government going on, what's happening in portland right now is disturbing, but it's not china. there is a difference in what they're doing there. that said, yes, there should be a privacy bill that protects u.s. consumers and these companies have them in other countries obviously. they have to adhere to other countries laws

there is not a privacy bill here and we should be thinking about this issue one thing -- you said social media, you're overloaded i don't think of tiktok as a social media company, i think it's a social entertainment company. that's different what's interesting about tick tock, it can go so many directions i talked about stuff gary is doing on it. you can see financial stuff. the directions it could go are vast it's beyond people doing dances and seeing the cat, putting the cat by the head and saying the queen is on the line sarah cooper is on there, a wonderful comic. so i think it's an interesting platform that could be a competitor to facebook if it's on the new york stock exchange or nasdaq run by a u.s. ceo, which it is now, it could

remove itself and deal with its privacy issues, which are -- they've been dinged for privacy issues and deservedly. >> i want to hone in on something you said what's the difference between social media and social entertainment and where does snapchat fall versus youtube >> you know, i think you think social media, it's just media -- it's social communications, that's what took is. there is media, but they don't make any -- this is media. this is almost like what quib i should have been short-form entertaining videos, not professionally produced, though some of them are now. i advise you to get a burner phone, get a google pixel or an inexpensive android phone, make up a name like jon loves tiktok or whatever at g-mail, which i have, but try it out it's entertainment it's really entertainment you

can see directions it could go i'm thinking about it a lot. i'm like 109 years old, what could i do on it that would be interesting for the businesses i have it feels like a business thing that i could do things on the way sarah did or whoever it's not limited to comics we need to think of this company, if it goes public in the united states as a much bigger deal and definite competitor to facebook in a way that would be interesting, in terms of news consumption. the media part, which is the big problem at facebook is that they don't want to do anything. so it's just interesting i think people should not immediately jump to conclusions about this company at the same time be wary of the chinese government which we all should be. i have no -- i have the disagreement in how secretary pompeo is talking about it i think it's all political he's not thinking about the bigger issues. i think it's smart to be wary of

these companies and especially ones that are sourced in china even though there's a corporate structure that keeps this information out of china, but you never know it's not clear enough. >> you're right. kara, do you expect instagram reels to be a tiktok killer? >> they'll try that's what facebook does, they never think of a fresh idea on their own. so they'll try i think this is really -- it's quite special. it's a different thing yes, of course they can mimic everything it would be nice if they thought of an idea on their own. that would be nice some day. that would be an interesting trend. but sure sure why not. we'll see. we'll see how it is. they have the base using it already. but they have to be careful not to go too far from their -- they did very well with stories by grabbing that from snapchat. but maybe. we'll see. they failed, i don't know what happened with their dating service. where did that go? they had a lot of things that work and don't work.

that's normal for a giant company like that. >> sure. kara swisher, the best looking 109-year-old we have on our air. thank you. >> i'm not doing any dancing don't worry. no dances by cakara swisher on tiktok >> thank you look at this chart it is a stock nearly 900% higher in just the last four months one of the biggest winners in the stay-at-home stock basket? does this stock belong in your portfolio? we'll tell you what it is after the break. some companies still have hr stuck between employees and their data.

entering data. changing data. more and more sensitive, personal data. and it doesn't just drag hr down. it drags the entire business down -- with inefficiency, errors and waste. it's ridiculous. so ridiculous. with paycom, employees enter and manage their own data in a single, easy to use software. visit paycom.com, and schedule your demo today.

it's been one of the biggest stock winners in the age of covid, up 800% since the march low. kate is taking a look at wayfair. hey, kate. >> hey, carl wayfai h w wayfair has been a big winner and quite the comeback story it's benefitting from consumers staying home more and the move to online spending flash back to year ago wayfair was hit by the trade war and tariffs with much of manufacturing done in china. it also raised prices and sales slowed down. all this resulting in deeply negative margins in what was called a downward spiral

the company still isn't profitable but wayfair moved up to time line to break even the goal was set for 2021. executives now say the company will turn a profit for this current quarter. analysts i spoke to say they appear to be on track. the big question once the pandemic is over and some of wayfair brick and mortar competitors are back up and running, can they keep up the growth let's take the bull case first work from home could persist into next year people might make upgrades bullishes are betting on first customer loyalty and expansion into other areas take home services a the bear case, if the miss the new profitability target and customers don't keep coming back plus spending could slow down in a recession. there comeback has been amajor wind fall for some of wayfair's biggest shareholders we have fidelity and spruce house management which is a new york based hedge fund followed

by the uk based asset managers john, back to you. >> all right thank you. let's get a quick check on where we stand in the broader markets. the dow trying to climb back up to break even. down about 37 points the s&p up about 13 points the nasdaq, up 1.5 we're back in just a moment. geico's been helping people save money for over 75 years. they've really stood the test of time. much like these majestic rocky mountains. which must be named after the... that would be rocky the flying squirrel, mr. gecko sir. obviously! ahh come on bullwinkle, they're named after... our first president george rockington! that doesn't even make any sense... mr... uhh... winkle. geico. over 75 years of savings and service.

fitness centers and gyms in philadelphia reopening this week with reduced capacity and social distancing protocols in place. city health commissioner thomas farley saying facilities will be

subject to random inspections and shutdown if they're not following the guidelines joining us now is fran kcassidy. good to see you. welcome. >> thanks. good to see you too. >> you guys have been shut down for four months, as i understand it you're opening up with the safety protocols in place. what are the big questions that you're getting from your members? >> well, our members obviously are concerned with their health and their safety our communication to them, they ask the questions. we had the opportunity to speak to doctor thomas far lee who is the director of public health for the city of philadelphia he gave us guidance on the requirements of the city which include, as you said, safe distancing you see in our background our fitness floor that has extensive amounts of equipment you see our track above there. all of our equipment is set six,

sometimes eight feet apart dr. farley required that we all wear masks at all times. i don't have my mask i have it here since we're not opening until a day or so to train our staff, we have separated all the equipment, as you can see. >> what do you view as the most important message to the people who are going to be using the club and what would you say you would like to see the city of philadelphia do to support this being done in a way that is sustainable? i imagine if other clubs don't take the care they need to, that could reflect on you >> we're confident that exercise, health, fitness activities are very beneficial especially in times like this. the message i would give to our members and any potential member who wants to join is sporting

club at the belview is safe. it's clean our equipment is distanced our check in process is very tight. if you feel sick, follow the cdc guidelines all of us have been hearing for months wear your mask at all times. stay six feet or more from other people that would be the simple message. >> maxes make sense if you're on a weight machine or doing free weights. are you expecting resistance to wears masks in a fitness class or doing cardio? >> we did anticipate that. we have been here 31 years

our members are dedicated. they loyal and they by in large follow our procedures. some people may do that but other members and our staff will be around and we will inform them both by e-mail and personally that we don't want to be shutdown. dr. farley was insistant on that we'll give them maybe only one chance to say you need to wear your mask at all times >> all right general manager at the sporting club at the bell view in philadelphia thank you. the week is just getting started. we got a bunch of names we'll be able to drill down on during the course of the week microsoft and tesla wednesday night, snap tomorrow night come thursday we'll get twitter, at&t, intel and mattel it's like chef's choice this

week >> it is apple is next week these big stocks what they say and what they can't say about their outlook will be important, at least to sentiment, i would this >> guess who is back the judge. let's get to the half. welcome to "the halftime report." i'm scott wapner what could be the most important question for your money. has tech topped? we debate and discuss that with our investment committee today joining me for the hour today, joe, josh brown, brynn and amy is back.