jon najarian, what do you got? >> amd this one is exploding through the roof and it's not because of a stock split. i see huge upside activity in the calls. i bought those before the show >> what do you got for me today? >> i bought nasdaq >> thanks, everybody, for watching "the exchange" starts now. thank you, scott hi, everybody, here's what's ahead. stocks are on pace for their best august in decades, so payback is coming, right but one major investor says there is no real alternative to this market for investors. are we setting up for a surprise in september consumers are on the hunt for webcams more than ever the ceo of logitech says stocks are on a tear. the race to keep up with the

demand and luxury, mets money and tracking the mail. it's all ahead today we begin with the markets. a big day for the dow. .c dom chu is here dom? >> stocks do go down it's been a long time since we talked about stocks going down, but they do, in fact, go down. the dow is down 290 just so give you some relative sense of the intraday trading range at the dow. the s&p 500 relatively flat. 3500 still holding above that mark, and the nasdaq composite, a real outperformer in trading day, up on the day as well, so a big strength there in technology added to the dow today, salesforce.com, amgen and honeywell. those three stocks now represent at least components that measure what's happening with the digital economy, biotechnology and industrials. meanwhile, take a look at those versus the ones that have been removed from there

merck still part of the dow, chevron part of the dow. raytheon technologies gets replaced remember, the 4 in 1 split in apple. the stock to watch this afternoon has to be zoom communications speaking of those covid stocks that stock up 3% today after the closing bell 3.5% gain for the last year. kell, just to give you some idea, the 2.5% low back here, we are now up 400% for that particular stock talk about a particular stock that's emblematic of the covid economy, check back. >> if they're not doing that call on zoom, they're missing a huge opportunity >> i think they should, just from a brand perspective jp morgan's market guru who called the bottom in march said investors should position themselves for a trump victory, saying his odds are up big the

last few weeks the president has fed jerome powell in part to thank for that >> jerome powell, of the fed board, has given a long-term put for zero for a long period of time this has led to an expansion of market valuations, and frankly, the president should kiss the chairman on all four cheeks, in my opinion >> is that a zoom background i don't think that was i couldn't tell. it looked beautiful. anyway, for more i'm with david balin, chief executive at city wide bank. brian, i'll start with you we have this well into euphoria territory, so what happens if this keeps going >> thank you for having us we actually just increased our

number, reinstated our number. we were at 3400, now we're the 650. a rising tide type of markets n not only on the momentum, but the target sentiment messages, the best gauge of what sentiment is is actually talking to clients. in the majority of clients we talk to, and i've talked to more than ten clients this morning, considering our new market, and the market on march 23rd, and we were on your network on march 23 shd ta 23rd talking about the market, and we were at what we are ready to call a 20-year bull market. >> i wonder if either one of you are speaking to the traders

driving this rally maybe they're younger, maybe they're on robinhood they're not citiwide bank, david. >> you've got low interest rates, you have total consumer demand in the united states well below where it was in december 2019 you've got 88% of this market is recovered now to areas where it was before the pandemic. and mobility is up and things like that. we're also seeing an extraordinary amount of consumer demand and an absence of supply, whether you're trying to buy a mouse, a car, a bicycle, you're trying to buy a home appliance, you'll be waiting for it part of this is the economic stimulus taking place in the united states, but it's global $25 million that's going to drive the global economy and it has a multiple effect for next year we're not really looking at this for a moment in time but a new

election cycle which began in march and will really accelerate to 2021. that's why the estimates we were just talking about, 3600, 3650, are certainly possible the way for investors to make money is to rotate from technology into areas of the market that are going to benefit in the future. this could be latin america, small and medium-sized industrial companies, it could also be parts of the market that are undervalued. even growth in reasonably priced stocks are well undervalued compared to the technology stocks >> and that's fair enough, but brian, i guess in both of your bullish and constructive long term for those reasons, but every now and then, brian, a rally needs its own reset, right? and we haven't had one in a while, and, you know, we saw it last expansion, we had a lot of really sharp pullbacks followed by a lot of really sharp recoveries at some point we are due for one. but your basic message is, people, don't panic if it happens, but i wonder if for clients you could wait to get in

at that point. >> first of all, it's excessivily difficult to time those types of pullbacks, kelly. i would say that, number one number two, why we're looking at it and why we have a 12-month target of 3450 is when the earnings broaden out to a broad specter, and that's why tech community services and the specter are doing so great, when the fundamentals start to improve, the fed will have to start its speak in terms of what's going to happen in 2022 the bond market will get ahead of that, and that's, i think, when we can see a lot of volatility just when things are looking better and the actuality is a number. so the second half, really the first quarter of 2021 heading into 2022 is when things can get bumpier. things won't go up forever there will be some volatility. people are still worried about covid, and in the election, those would be opportunistic,

fearful buying opportunities >> david, final question, then, speaking of the election going back to the point of trump's re-election odds plenty of people have cited his improving odds as part of the improvement in stocks. is that what you would put your credence in the next few weeks if it swings back towards biden and back towards trump are these a much bigger deal that investors should be focused on >> well, i think after each of the conventions you've seen a bounce both for the democrats and now you're seeing a bounce for the republicans, and this is typical. we'll have to see what's going to happen over the course of the next month the race to watch is actually not the presidential race, it's really going to be the race for the senate and whether or not, in the event there is a democratic election of president biden, whether or not there is going to be a corresponding change in the congress if that's true, that would be a very, very big swing for the country. in terms of investment

positioning for the election, however, when you really look at these periods and what happens right in january after a new president is installed, if there is one, that's really when you have further momentum in the market and further momentum in value stocks we think that that's going to be a story between now, really, and the end of the first quarter of 2021 we want our clients to be positioned in areas like emerging markets, brazil and mexico, we want them to be in small and medium-sized companies, and we think there is a lot of money to be made by positioning your portfolio for growth of the basic industrial companies and even financials that will benefit in the event there is a steeper interest rate curve. so there is a lot that one can do in this market to really improve the portfolio for clients, and citi private bank is advising clients not to have a lot of cash and be fully vested at this period of time. >> so like some who say you have to wait for a vaccine to make that rotation, you can go ahead and do it now.

thank you, gentlemen david bailin and brian belski talking about the market people say space travel will be a must have and virgin galactic is the way to play it we have oliver cowen, and what is virgin galactic doing with this stock >> we really see the virgin galactic opportunity in space travel as a luxury experience, and luxury is moving in this direction. keep in mind tickets are $250,000, so to pay for this experience, it takes a lot of money. retail is moving toward this experien experience the survey we concluded speaks to a lot of interest in the marketplace as well as engagement in rethinking this, the company

has a new ceo from disney. it's about a lot of opportunity before and after the flight as well as rethinking this service as a great experience and a membership program as well >> everything is a membership program these days tell me about the financials you guys have crunched the numbers. i'm curious what numbers, and you've come out with a $22 price target which is only 26% upside from here. so this is not kind of a going out on our skis making a huge 10-year this thing is going to quadruple kind of call what are these forecasts all predicated on? >> kelly, our forecast is based on two parts it's a discounted cash flow model in terms of the commercial space for flight opportunity we're valuable wating that oppot at 17.83 this company does not generate revenue. so what we're looking for is the

generation of revenue to current 2022-2023, and really ramping up as the company adds more spaceships there are a lot of catalyst opportunities. we need to raise revenue with richard branson traveling next year and passengers at the end of next year as you look at this investment, it carries all this risk as we monitor safety as well >> sure. but i'm also curious, as your frontier expands, oliver, if we're putting virgin galactic in as a retail stock now, why not electric vehicle companies, and you name it? what else might be in the entertainment and luxury and fundamentally retail basket going forward? >> well, what's really fascinating is virgin galactic combines the virgin brand which has tremendous awareness there are 600 astronauts who have signed up for this opportunity and it really

combines virtual integration and virtual reality. it's a lifetime choice, it's a luxury choice in terms of the opportunity ahead, and we love luxury companies like lvmh as well as virgin galactic. we also love value think about costco and others. the world is changing and we see a lot of creative partnerships virgin galactic has partnerships with rolls royce, boeing and nasa as well, so you're seeing the convergence of a lot you're also seeing super premium stocks and ideas to work in our opinion as well as deep value. so thinking about this and the changes ahead and what's happening with the consumer, the luxury consumer is still there and it's quite global. >> oliver, thank you for joining us today to explain it and talk a little bit more about it we appreciate it >> goodseeing you, kelly thank you. >> oliver chen on virgin galactic coming up, royally bankrupt. that's what mcdonald's calls its ousted ceo as it seeks his

compensation what it could mean for other company executives in the future united makes a bold move that could cost them and force the rest of the industry to follow suit. united is down about 3%. we'll tell you what they're doing. plus another day and another spac this time it's for peanuts and pretzels you can probably guess that's coming up >> announcer: this is he exchange" on cnbc.

welcome back the drama at the golden arches continues today as mcdonald's strikes back against former ceo easterbrook. he worked there for decades. four years later in 2019, allegations came up that easterbrook had a consensual, nonsexual relationship with an employee mcdonald's offered no details about the relationship, but they fired easterbrook without cause and's hefty notebook of $460,000 that's what played out in the past fast-forward to last month when the company learned of three more alleged relationships, these sexual in nature now we're talking about the summer of 2020 here.

in a rare move, mcdonald's sued mr. easterbrook, alleging he committed fraud and destroyed evidence during its internal probe of his behavior. the company is seeking to not pay that portfolio now, adding that easterbrook's suggestion, his lies notwithstanding, mcdonald's got a good deal by ridding himself of him has no legal merit. the stock is up about 90% since he took over they are awarding his ability to d digitize the store what happens next? will this cause other companies to sue ousted ceos nbc legal analyst danny savales and kate rogers. kate, i'll start with you. how is easterbrook claiming his

case against mcdonald's here >> easterbrook is filing a case to dismiss he said he didn't cover up his own evidence and that mcdonald's should have discovered it when they did their audit, when they were looking into the relationship they uncovered that led to his firing. the language today so strong you barely see a big corporation, particularly mcdonald's, come out swinging like this, morally bankrupt. a lot of the terminology they're using very strong words here, and saying absolutely not. we do have a case here he violated our company policy values, and they're looking to get some of that severance back. >> danny, let me bring you in on that point do you think mcdonald's will get their severance back and is there a precedent for a case like this? >> there is not a precedence for a case like this, but easterbrook says, okay, even though i lied to you about those relationships, you, mcdonald's,

should have conducted a better investigation of my email account. i'm reading directly from the pleadings and they're saying, look, when we first conducted our investigation, he handed over his phone, we looked at his phone and everything that's on the phone. we gave it back to him because we didn't find anything out about these three other people so anybody who has worked at a compa company, has a phone and an email account knows there is a server that goes through and the server belongs to mcdonald's so easterbrook's defense is you shouldn't have listened to me, you should have looked at the server and found out this stuff on your own. shame on you, i'm keeping my money. >> do you think that has standing, danny, and allow him to keep his compensation >> i think his big concern is if, in fact, he did lie to deceive investigators, that may overlie the fact they absolutely

shuf should have been checking the server who would rely on what is on the phone itself, and i guess these sexual photographs were being sent to the mcdonald's email account. there appears to be some galactic misunderstandings of the case on both sides >> what is mcdonald's doing about this case now? >> david ferer was their chief operating officer. he was ousted just before easterbrook was last fall. they now have another chief operating officer, heidi proser, and she's taking a top down approach on what's going on there, their hiring practices. when the new ceo took over, there was a lot of emphasis on company values, what mcdonald's stands for and what they're looking for as a culture moving

forward. they speak up when they see things that don't align with the company values you can see the company wants to pivot. they have someone new in hr. they are looking at david ferer, his tenure as chief operating officer there, and his ability to make women feel uncomfortable, reportedly, at certain company events and gatherings and how those were reported and evaluated >> danny, a quick question the only pre-example we could find is if you look back at disney, what happened with michael ovitz. he got $1 million in shareholde money. i don't think they had success in getting that back do you think this uniquely hangs on this issue over whether they did a thorough enough job in ousting him? >> not necessarily, this may not be precedent because it's so much governed by the language of the contracts they entered into. in this case mcdonald's is

alleging that easterbrook released them from liability but they're not released from going after easterbrook. easterbrook likely denies that the point is in cases like this, it's hard to say there are any cases that are precedential because the severance is so controlling between parties. mcdonald's could have fired without cause but they didn't want the trouble of negotiatia o they negotiated this settlement. >> our own kate rogers and danny savales, appreciate it very much still ahead, can the post office deliver on its promise to send ballots on time cnbc investigates. a look at what was uncovered straight ahead plus products you can get your hands on. a company makes this so much easier to work and study from home it's our first name in our out of stock series. we'll talk to the ceo, ahead woman: my reputation was trashed online.

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welcome back to "the exchange." here's your markets right now. the s&p turned back into positive territory, it's up half a percent right now. best august for the s&p, i think, since at least 1986 now, that's just because it tends to be seasonally weak, so this is a standout of course, in the year of the pandemic, nothing behaves the way, quote, unquote, that it should the dow sitting in the red today despite a major shake-up of its components the apple tech split happening today as well. tesla is back in the leadership. you could guess this based on what the national averages are doing. energy, industrials, financials, those are back in the bottom three positions. let's talk about that tesla stock split.

it's higher today, the shares are, of course that's the only direction they go, right? they begin trading after their 4-1 split today. $480 is the price there and tesla is up another 10%. the stock has skyrocketed another 10%. neutral from cell at scitigroup, their pointing out that the bells sales growth should be a tailwind they're at 146 amazon a 2% gain after they have faa approval to fly their delivery drones. amazon is up $3,380 a share. let's get to sue herera for your update sue? >> a setback for michael flynn an appeals court denied a bid by michael flynn to legally end the

criminal case against him. the court after peeof appeals d flynn's order, denying the doj's request for dismissal. the world health organization said on monday that authorizations covid-19 vaccines requires a great deal of seriousness and reflection for individual countries the w.h.o. director general emphasized the need for countries to get the virus under control before reopening their economies. >> the more control countries have over the virus, the more they can open up opening up without having control is a recipe for disaster it's not one size fits all it's not all or nothing. and japanese venture company skydrive has unveiled that beauty it's an experimental flying car that can carry one person. the vehicle is operated

autonomously it can fly up to 60 miles per hour and the car can take off or land in an area the size of two parking spaces and in the big cities of japan, there is not a lot of room, so that's one of the reasons they will be pioneering that car. i will not be one of them. >> we have flying cars, self-driving cars. a little terrifying with both. as the coronavirus spreads globally, many americans are working, learning and shopping at home than ever before now they're talking about voting by mail. how can the postal service do it >> reporter: as america considers who will get their

vote, many are considering how they cast their ballot and whether they can trust the messenger. 12 stations conducted an experiment, sending 155 first class letters across a dozen major metropolitan markets 88% of the letters arrived within three business days the u.s. postal service's advertised time frame. another 10% arrived within a week just two letters, 1.3%, are still missing. all the letters were addressed to individuals at home they were mailed from multiple locations. some sent within the same city, some sent to people in other cities the postal regulator said in the june quarter, 92.4% of all first class letters nationwide arrived within two days, a faster rate than nbc's study in august these letters carried standard postage. postmaster general louis dejoy under fire for eliminating resources ahead of the election has promised ballots would be

marked "priority." >> the postal service is fully capable and committed to delivering the nation's ballots securely and on time >> reporter: union leaders say without overtime, without high speed sorters and without some 40,000 employees who have quarantined manpower is limited. >> if the mail is there to be worked, you just arbitrarily reduce hours, then guess what, the mail doesn't get worked. >> reporter: a report from the u.s. inspector general found issues in wisconsin, where voting by mail spiked 440% during its april primary they said three tubs were undelivered or returned or lacked postmarks it's a cautionary tale >> not only does this happen in places like milwaukee, but it's the potential for nationwide issues of ballots as the demand for mail-in voting increases because of the covid-19 crisis

>> reporter: nationwide some 190 million americans are eligible to vote by mail this fall. a spokesperson for the u.s. postal service referred us to public comments from dejoy and the organization and added, quote, the postal service has more than enough capacity including collection boxes and processing equipment to handle all election mail this year, which is predicted to amount to less than 2% of total mail volume from mid-september to election day nbc stations plan to test the timeliness of the mail again in september and october ahead of the november 3rd election. kelly? >> kayla, were there any trends in the places where the mail took the longest >> reporter: well, in the roughly 10% of letters that took about a week to arrive, perhaps unsurprisingly, most of those were long haul they were sent to other cities but there were still about six letters mailed within the same city that took about a week to arrive so what experts say is if you don't know how long your ballot is going to take to arrive, either drop it off at your

polling place in person or give it about a week to do so >> yeah, at least. kayla, appreciate it very much kayla tausche there. 100-year-old spacs back and united changes course on fees. that's coming up on today's "rapid fire. we will be back right after this this was an unexpected bill not covered by my health insurance. and this is the aflac duck who helped me cover it. aflac. these are all the cab rides to my physical therapy. and aflac paid me directly to help. aflac. what he said. and this unexpected bill is from... the two-thousand-dollar specialist. thanks. aflac. when you're sick or injured, aflac is there. we can help with expenses health insurance doesn't cover. get to know us at

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welcome back it's that time let's catch you up on a few stories that should be on your radar today. it's "rapid fire" and here to break down the headlines, dominic chu, leslie picker and robert frank welcome, everybody my first story of the day. after nearly a century as a private, family-owned company,

the snackmaker uts are making a public debut through a spac. they trade odd a private ticker. goi . >> from this spac going public, we'll really clean up our balance sheet to a really great position as we go forward, we think we have a ton of organic opportunity just to grow geographically or into some of the subcategories we're not robust in that we should be more robust in. >> they're sales were up 11% during the pandemic. they benefited from that sort of stockpiling trend. why the spac route they're a long-established company. this isn't a speculative ev company. >> that's exactly the point here i for one am certainly victim to

the whole stocking up on potato chips and other things to get me through this pandemic. however, what's interesting here is that these discussions actually started last july, before the pandemic was even in most people's mindsets so it's one of those kind of counterpoints to all the people who say going public via spac is a quick process. not always, but for them it makes a lot of sense, especially if you're a family-owned business, you're storied, you've been at it a long time it sounds like their real incentive is to clean up their balance sheet. this gives them access to the capital markets to do that >> dom, maybe i'm missing something. this is a company that has revenues, earnings, history. the current owner is the grandson's son-in-law. isn't a spac more expensive? why not do a direct listing? >> i'm not sure if it's more

expensive or not every structure is different and the ipa that goes with it. it's already exposed the companies and the clients involved to a lot of scrutiny on both sides of the equation if you're taking a look at the spac route, this is emblematic of the paradigm change here's what i would say. if you're a spac and you're a star manager that has raised a good amount of money on their own, they're taking the place of the under writer they are in essence the underwriter. it could be a way of saying, you know what, if we've got a good manager, we believe in the product, we give them a blank check, they will go out and make the right decisions. in this case here, utz is probably one where they say if not now, when? >> right, we've had a great quarter. robert, should we be thinking about the spacs almost like "shark tank" this is kevin o'leary and

they'll lend some of their expert advice. is that part of the dynamic here as well? >> definitely, but what's interesting about this is the family is holding onto more than 50% of their holding they are cashing out 10% but this is a family that is fourth generation, as you've said they've held this company for over a hundred years the fact that they're staying in with so much equity is a good sign they need more cash to buy these smaller brands, get scale and maybe one day get sold, whether it's positive at the presepepsi buffett or somebody. this gives them the cash to do that it's still going to be a family-owned business and that's a very good sign for investors >> fair enough it just makes me feel like a kid again when i see those utz brands >> cheese balls. >> cheese balls! >> potato sticks >> they should have done a roadshow another sign we could be witnessing the end of office buildings as we know them.

pinterest paid nearly $90 million to scrap a lease in san francisco. just another instance of staying at home working. silicon valley could look very different in the years to come dom, i'm going to you because i know california is near and dear to your heart, but also, as the stanford study just pointed out, 42% of the country is working from home right now. pinterest's moves suggest these changes will be lasting for quite a while longer >> it won't be silicon valley, it won't be any valley this whole theme is about remote working. it's about being able to do a job in technology specifically that doesn't require you to be in an office we've been talking so long about this notion that the pandemic is making trends. one of those trends is you don't have to be in palo alto or mountain view or even new york city the idea here, if you can actually get folks who want to live in memphis, tennessee or lexington, kentucky or charlotte, north carolina and pay them a good amount of money

to live in those locations with lower costs of living, this could be huge in attracting new talent and for pinterest, it might be a small price to pay to break some of these leases if they know they can get the best people working from areas that are not necessarily silicon valley >> picker, what would you add to that >> i think you have to wonder if you do start to see this kind of tech diaspera across the country and you're paying these people pretty high wages, what does that do to the cost of living? does it increase it? i don't know, it's a big country, maybe not, but it would be something that would be interesting to look into, whether or not we do see this impact of staying from home if it does have staying power, what does that do >> it's a great point. in seattle in the '90s, people were already mad at californians for coming in. they said real estate here is crazy expensive. can you imagine how they feel about 2020 wait until these towns have the influx of workers ready to put

their money to work. billionaire hedge fund manager steve cohen is in exclusive talks to buy the new york mets and the two sides are set to make a deal in the next few days the new deal is expected to be worth $2.6 million, which is interesting, because that's the same amount he offered last year in a deal that didn't pan out. j-rod, alex rodriguez and jennifer lopez cohen will easily be the richest owner of an mlb team, robert >> that's the important point. it will be hard to overstate how rich and how important he will be to this mlb league. he's the third richest of the mlb owners combined. he's worth somewhere close to 14 to $15 billion yes, he'll have to fund some losses in the first year, maybe 100, $200 million.

this is a guy who spends $55 million on a picasso, $165 million on a lichtenstein painting this is like his art budget to fund this entire team for a whole year this is going to change the mets, this is going to change the entire scale of the league, and i think it's going to improve the mets probably force a lot of other owners like the yankees to start to pay up as well >> so no covid penalty, dom? >> no covid penalty, but what's curious, just listening to robert talk about what it's going to be like to be an owner in the baseball arena, i think of david tepper. he owned the atlanta team but he owns the team outright for a guy like steve cohen to own a team like that and have a real hand in operations is probably one of the things that makes him feel like it's worth the money even if the losses are there. you have a franchise, it is

yours and you can make this thing. if you were a fan since you were a kid, you could make this into a great, great team. this could be one of those legacy items beyond what you were thinking about with regards to your hedge fund career. i feel like we've been here before cohen has been around the mets for so long now that i hope something happens one way or the other. >> if he doesn't make them into a great team, then what? we just assume, right, that it's got to pan out, but it's still going to be a lot of work. throw enough money at it finally, united airlines is announcing it will no longer charge a $200 fee to change domestic flights the move is permanent and aimed at helping people as they navigate the covid pandemic. tsa said air traffic is hovering around 30% of its levels united down 30% and still down 60% on the year. silver lining, leslie, of the pandemic >> i just think it's funny they're trying to get more people to fly by saying you can cancel your ticket for free.

it seems kind of count counterintuitive of what you would expect them to do. people are saying, i don't really know what the situation will be, so i'll book it now, see what happens later i don't know, i fell like airlines could use the additional revenue, but i'm not personally a fan of those change fees >> and the fact that southwest did away with them tells you that -- they're trying to be customer focused even southwest down about 2.5% >> southwest is a budget airline, and you're talking about a full service carrier it only applies to full price tickets, not those bottom basement ones that are considered deals i'm kind of curious to see how this pans out. >> robert, put a final word on it >> it's about time southwest did it, and most retailers, they provide easy refunds, easy exchanges.

it's time for airlines to do the same thing >> that model wins i totally agree. leslie picker, dom chu and robert frank, appreciate it on "rapid fire. a new study shows most college students are back on campus physically. that has college towns torn. we'll dig into it, next.

welcome back after suspending classes for two weeks due to a covid outbreak, notre dame announced students will be returning to campus on wednesday. a new study shows they won't be the only ones as many students will learn virtually but not necessarily at home. steve liesman is here to explain. steve? >> back to school, kelly a new study with information on health and its economy find that more than three-quarters of college students are back on campus the study by berbio which is an online aggregator.

74% of the residential colleges have summoned students back to campus julie roch, burbio co-founder said despite challenges to managing health services, and the logistics of everything from moovrg in to dining, colleges have made a clear commitment to getting students back on campus. it includes the colleges that have called students back but are teaching both virtually, in person or a combination thereof. this is a positive for college towns either desperate for the commerce, but residents are also scared of the potential covid transmission it also raises the potential for students to bring the virus back home a new survey last week found 27,000 cases and 64 deaths among colleges around the country. that includes almost 100 cases at university of alabama at

birmingham and 835 at university of north carolina at chapel hill 100% of schools have called students back to campus. the decision is decided by the schools in will send their students home from thanksgiving until january, kelly. >> it does seem weird to say we're going to call you back but you don't have to really come to class. it's going to be virtual it seems like a recipe for partying and problems. it may not even be the wrong call it just seems odd. everything about it and having sports still go on it all seems very odd. >> sports not going on and be charged the athletic fee it is a wrenching stoi ining sto report i readplaining from tuition cos

or feeling like they are in prison my son decided to defer this semester he was not going back to college. he mad my full blessing to do that if that's ha he wapwhat het do the stories about the virtual learning are not good and the other side of it and being in class are not good either. >> thank you, sir. we appreciate it still ahead, shares of logitex climbing and 130% from their low. one of its products is in such high demand that consumer can't get them we'll talk to the ceo about it, next machin or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. at morgan stanley, a global collective of thought leaders offers investors a broader view.

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consumers are seeing very specific products go out of stock. this week we're taking a closer look at what happens when econ 101 collides with a pandemic logitech saw a 116% surge in web cam sales last quarter and it doesn't see demand slowing down soon the shares are up 4% today 94% in the past six months it's good to have you. welcome. >> great to be here. thanks >> i asisume you're using one of your products now? >> multiple. web cam, mouse, keyboard >> that's true you guys make the whole suite. what is there no way people will get their hand ons fs on for que some time. >> i would have said there's no way you would get your hands on a lot of things. we're stimcoll coming back in

stock. we're getting there. we're a little tight this quarter. we're still very tight on blue microphones. these are super -- i have one. >> show us absolutely >> this is it. they're really great we're still very tight on microphones. that's coming back too i think we'll be in pretty good shape. >> we know that u.p.s., fedex are doing holiday surge charges and what countries or production areas of the world are an issue. >> we make almost everything we sell in china or countries around china the most difficult supply problems have been component supply we have great long term relationships. the key component of suppliers we have been able to get to

them we have increased our own capacity for making these things across the board it's been kpiets iexciting >> what happens when you watch this gray market come up online where those suppliers know how to get stuff out there at a really high mark up when people need this stuff fast how do you feel with that? >> we're not raising our list prices especially in the beginning of pandemic where people need our products to communicate to teach or learn we are not going to increase prices it did happen. you can try web cams at crazy prices online. there's not much we can do about it >> the biggest mistake people make is not using separate web cam. i sound like i'm promoting but

there are great benefits but it gives a lot of advantages including they tend to be higher quality. you also can move them around. i can pick this up and show you right now. i steds of what i do, i can show you my microphone. i can also put it over if i was drawing something. i can show it. using a separate web cam is an advantage. i know that is frustrating for people trying to get one of ours and couldn't they are coming back into supply now. >> we appreciate the update. wish you the best as this continues. thanks so much for joining me today. >> thank you so much for having me that does it for us on the exchange coming up, advance auto parts ceo will join to talk about the auto boom. i'll see you with tyler mathison after this quick break woman: my reputation was trashed online.

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good afternoon welcome to "power lunch. the new dow is here today. it is down about 200 points. the s&p and nasdaq setting new records. the s&p higher earlier now basically flat but just inch into the green stock splits going into effect you can see both names trading higher and not just by a little buy. advanced auto part has more than doubled since the march low. put money in the ponckets op consumers. what happens now that the relief has stopped. the ceo will be here to tell us what he is seeing on t