tv Power Lunch CNBC August 26, 2020 2:00pm-3:00pm EDT
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as part of continuing series rising risks, diana olick explains how technology is used to help home owners be more prepared in the future with a new tool launched today. >> when hurricane harvey inundated the houston area three years ago, most of the homes damaged or destroyed had no flood insurance because they were not in fema designated flood zones. fema flood maps are often
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outdated, not comprehensive and don't factor in the effects of climate change. >> so every home on here -- >> now a new nonprofit data company, first street, working with 80 scientists and researchers is remapping america's flood risk in an effort to educate home owners, buyers, real estate industry. >> we are basically building flood models for every home in the country. >> while fema which was nearly 9 million u.s. properties as having substantial risk, requiring them to carry federal flood insurance first street i did nearly 70% more or 14.5 million properties with the same level of risk. it calculated more than half the properties in harvey's path were at high flood risk and should have had insurance the difference is first street uses current and projected climate data including sea level rise it happens actual rainfall, which is increasing
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dramatically, and includes areas fema hasn't mapped. >> i think there's a great partnership to be had where we can create awareness of flood risk and how it's likely to change. >> first street is backed by various foundations. while it offers its data free to the hub on its site, it's selling bulk data on millions of properties to mortgage companies, insurers, commercial real estate brokers and appraisers and to realtor.com, which will now include flood risk on every property on its site. >> anything that's going to affect the value of that home needs to be considered. >> admits some sellers won't like that the new flood scores may lower the value of their homes. >> putting information about what the flood risk is today and how it might change over the future in response to climate change arms consumers with information they can use to make really good decisions for themselves >> now, first street is embarnicle-of-barking on new projects for fire and drought on
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commercial and residential properties while other companies are hashing risk, they aren't doing it for free. this is likely to change a lot of factors from home owners from mortgages to insurance to the very value of their homes. back to you guys. >> it runs deep. no pun intended, diana diana olick. tech stocks rallying big facebook, netflix, salesforce.com up 26%. our next guest said it's time to look for value outside of big te rhtft ts.chig aerhi ♪ 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. ♪
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list let's start with the only retailer, foot locker. >> just broadly more cyclicals should outperform growth stocks. so the idea here is that consumer discretionary industrial material fit that theme. what we did was ask the analyst for the best ideas in the group. the other things we were looking for was comes with upward revisions. expectations were low, getting readjusted so foot locker made the cut and also had a pretty good reporting seasons in the q2 numbers. >> it did great. in if anythings, virtue financial, bank , melon, why those names. >> financials is a tough space a little broader than outside banks, obviously we're giving you a bank there it's our analyst, one of our favorites in the group is obviously cheap, a little overexposure again, the key here is that
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numbers were good and estimates are going up for those stocks. that was what we were keying on. >> health care stocks. have you biolab, industrial parsons, equifax, the credit company. >> the industries is one of our favorite groups. what we're looking for, companies with overseas exposure, not that expensive inside of tech, rotate away, see what software is doing today rotate away from software and look more for semis or something more geared toward economic -- sort of geared toward economic growth again, see what the economy is going to do much better, earnings are going to get better with that you want a broader population of names in the portfolio. hence -- >> exactly you've given us a bunch today. not just salesforce, facebook and tesla. >> salesforce up 25% today that's amazing.
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>> you wish it were on there going in steven joining us from jeffries, sales, over $2 million. >> astounding up 22, 23% today alone and it's not even in the dow yet. >> who would have thought its big pop would come the day after. >> exactly kelly, great to be with you. thanks, everybody, for watching "power lunch." "closing bell" right now. >> thank you, kelly and tyler and welcome everyone to "closing bell," i'm sara eisen with kayla tausche today in for wilfred frost. a quiet day, the dow up 30 points or so nasdaq surging on a new record let's look at what's driving the action with one hour in trade. netflix up, salesforce up 25%. an incredible move for that stock. adobe, facebook rallying as well promising news o
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