welcome to "power lunch. i'm kelly evans. here's what's on tap stocks are rallying but off the highs of the session the dow is up nearly a 1% gain this hour. plus, the tech crackdown is here the department of justice filing

an anti-trust lawsuit against google, characterizing its search and advertising business as a monopoly. shares shrugging it off, up 2% we'll speak to a top analyst about what it could mean going forward for big tk and tilman fertitta is seeing bright spots in the country. he'll tell us where and why. "power lunch" starts right now let me welcome you to "power lunch" as well take a look at some of the big names we are watching today. netflix slightly higher ahead of its earning reports, that stock down about 4%. and no earnings boost to ibm, that's the biggest drag on the dow after reporting its third straight quarter of revenue declin declines and financials one of the best performing sectors thanks to regional banks, helping the rest

of the group kelly. >> john, thank you we begin with the two big stories out of washington today. elan has the story but first kayla tausche is tracking new developments on stimulus aid >> reporter: today marks the end of the 48-hour window that nancy pelosi set to reach a stimulus deal with the administration, but today she widened that wend o -- window ever so slightly saying it isn't that this day was a day that we would have a deal, it was a deal that we would have our terms on the table to be able to go to the next step. poli pelosi said a deal must be reached by the end of this week and to pass by election day and she expects revised terms when she and steven mnuchin speak later today. senator thune said he thought it

would be difficult to get the support to pass a bipartisan package. republicans are set to vote again on a series of smaller bills. today on a $135 billion reauthorization of the leftover money from the ppp program and tomorrow on a narrower $500 billion stimulus package that was already taken up earlier this year. here's senate majority leader mitch mcconnell. >> there's no reason the second round of the paycheck protection program should wait another single day so we're going to vote on this legislation today. one clear vote on one clear program that everyone in this chamber says -- says they want to pass. >> and democrats in the senate blocked the passage of that narrow stimulus bill earlier in september. today is not likely to have a different outcome. we'll see what they say when they speak later today and whether they have a different

readout than they have in days past. >> are they likely to get any bipartisan support for these piecemeal bills or no? >> no. the vote counts in december basically had republican support but did not have any democrats on board, which with the narrow majority that the republicans have in the senate was needed to advance these. but it's seen as sort of a marker of republican priorities and what leader mcconnell believes his party would support and where their views on the necessary stimulus lie of course the president has said if he reaches a bipartisan deal with the speaker that he would get on the phone and talk to republicans to convince them to take the package, but so far we haven't seen any sort of defections from the gop saying if there is a deal, that they would definitively support it. kelly. >> all right, kayla, thank you very much. >> john. >> now let's get to elan for the details of what the justice department is alleging google

did to abuse monopoly power. ylan >> the d.o.j. outlined a vicious cycle, google allowing it to maintain its market share which brings in even more ad dollars and make agreements more lucrative and exclusive and shutting out the competition the complaint said absent a court order, google will continue to use its anti-competitive strategy. this case has been a top priority for the justice department 11 states are signing on to the case, notably all of them led by republican states attorneys general. google defended itself saying american anti-trust law is designed to promote innovation and help consumers, not tilt the playing field in favor of particular competitors or make it harder for people to get the

services they want the company says they expect it will be 12 to 18 months before this case even goes to trial but that it is looking forward to defending itself in court. guys >> and they do have the lawyers to do it stocks higher on positive comments from the speaker of the house nancy pelosi about a possible virus aid deal. it's not close it matters, whether a deal happened sooner or later tom, i want to start with google because alphabet is one of your major picks. this scathing report out but the stock doesn't seem to be reacting much. is there anything here that surprised you or that you think matters? >> well, you know, again it's -- you hit it on the head this is a really damning charge from the justice department. the stock should have gone a lot more so i think that the fact that the stock is held in is telling us that the market doesn't see

lon lon long-term damage brought on yet. it's a big company with a bulls eye on its back but the stock is pretty reasonable as well. >> returning to possible virus-related aid, you said that's something to watch in the next 24 hours, but you're also saying that either way, you said to buy stocks post election, 90% is going to be the same no matter who wins. is that right? >> yeah, that's right. i think the market is in a waiting game it doesn't like lack of visibility and the next 20 days are really a period of uncertainty because, one, we don't know if we're going to have a clear election outcome and also, who is going to win. but looking beyond that, you hit it on the head i think that the stock is going to build -- i think risk reward for stocks is really good. we're treading water but the

economy has been strengthening and there's a lot of cash on the sidelines. so far covid has not risen parabolically like it has in europe >> what about this idea that sometimes the stimulus, some names end up benefiting more than others. walmart comes to mind as a company that seems to get a boost when consumers have more money in their pockets and this is q4. how much should that factor into what investors expect if we will get a stimulus deal sooner rather than later? >> the stimulus deal will provide an important bridge to the economy. there are a lot of americans suffering. we are just exiting one of the worst depressions in five lifetimes, maybe the worst ever in the u.s and the groups that will benefit from that stimulus are going to be economically sensitive. so i think you really want to be

cyclically tested. i think the fact that si-- >> when i see your list of what you call the best of the best stocks, i see apple, facebook, tesla, cisco there's a lot of big tech here the valuations in big tech have gotten awfully stretched what gives you confidence that those are still great picks? >> i mean, these are great companies with business models that have proven to be really durable. their competitive position is really strong. the reason i think they're still worth owning is equity risk premium on these companies is still too high these companies survived the worst economic shock globally that we've ever seen and they're prospering i think you're going to see them

as unkillable. many companies borrow many cheaper than governments at the end of the day the equity is a lot less risky than we previously thought >> i guess we'll see if that can go on and on tom lee, thank you >> thanks. >> let's check this on shares with our josh lipton now, shares of cloudflare. it's up 50% in the past month alone. mr. lipton has more for us josh >> kelly, that's right since march, cloudflare's market share has more than tripled to nearly $18 billion this is a company with a long history. it was actually founded back in 2010 today it has more than 1,500 employees and 96,000 paying customers. cloudflare provides software

tools that help companies protect their web sites and make them run more quickly and reliably but it's not just companies. cloudflare is playing an important role it this election, too. more than half of u.s. states are using its software to defend their election infrastructure, like voter data information. and the trump and biden campaigns are relying on cloudflare to help defend their web sites against malicious attacks. piper's jim fish doesn't think this is a big money maker for cloudfare but believes it could be a strong marketing tool for the company. he said it's a buy, one of the best in class names to own, he argues others are more cautious gray powell says valuation at these levels looks too demanding back to you all. >> all right, josh, thank you, sir. real quickly, to cloudflare become a takeover target here or

has the run-up made the equity too expensive? >> so i did, as i mentioned, kelly, i spoke to piper's jim fish jim is bullish on this stock he believes in the management team, believes in the product and he does believe it's an acquisition target y -- he thinks if cisco bought cloudflare it would help them capitalize on big, powerful enduring trends, like cloud security and we'll see if cisco's chuck robbins agrees, guys >> josh, thank you josh lipton for us today >> the department of justice filing a lawsuit over search and advertising. plus the restaurant recovery taking a slight step backwards last week. but tilman fertitta is seeing a slight comeback.

he'll explain why. more "power lunch" after this. ♪ ♪ ♪ ♪

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welcome back the department of justice's anty trust suit against google for its u.s. search dominance where it dominates nearly 90% of the market in the u.s. is filing today. despite the lawsuit the apparent company alphabet and other big tech giants are positive but is this just the beginning of a bigger technical crackdown? if so, what does it mean for the

stocks grant, welcome the conventional wisdom is that this isn't going to make much difference, that any remedy that comes will be years from now, will make affect google at the margin any reason to turn that conventional wisdom on its ahhed here in. >> no, i think that's the right thinking we go back to a couple things one is the microsoft case. it was a decade long the stock went up 900% so investors, it mo's more of a side show. it's important, we're taking this serious but we don't believe it's going to have an impact on the stock. today the stock is up 2.5% i think that's a reflection of that and, number two, it's per or legal advisers, it's a narrower and more traditional case as described. so it's not a very broad case. and so we think ultimately the legal help that we're getting to effectively analyze this suggests that a breakup would

likely not be possible underneath the current scenario. >> nafair enough. i'm glad you raised the microsoft example. if you go back and look at what happened then, to are years microsoft shares went nowhere and people say, well, because the government was involved, they couldn't really get on the mobile phone bandwagon, they were left behind it took them another decade to catch up and become the behemoth they are today is it possible all of this too many times enough of a distraction that google is not able to make the kind of acquisitions or innovations that would keep it on top >> i don't think so. google has been a highly innovative company it's been one that they've focused more on technology and people come to you rather than pushing them out i don't think this is a distraction for the engineering teams there. again, i go back to ultimately they want to do what's right for the consumer they do not want to hurt us. they want to be in the right

spot and ultimately i agree with google, it's our choice to search on them the reality is even if they were removed from every device, we would go and download the apps and still search there because it is the best result, it is the best engagement. and you continued -- i continued to look at even their search technology used in things like youtube tv, i watch cnbc every day on youtube t vfv. we can search shows in an easier way than traditional t vchv. i think this is ultimately more noise. facebook, amazon, the rest of internet is underneath the same duress we don't think google will be alone. >> let me ask you about section 230. what would happen if in the future social media platforms and to some extent google, if it curates content, if they lost

section 230 protections. do you, a, think that's likely and, b, if so it would seem in a huge way to undermine their current business models? >> when we talk to advertisers, they come come beiing back and s long as we get the return on the advertising dollar, they're going to stay there. they're the ones paying the bill so we keep asking advertisers, what are they seeing, are they making shifts in budget? you keep going through the top platforms and there's more money being placed on these platforms not less, we're shifting to digital from print, so i don't see that as an issue i go back to what the advertisers say and they're not stopping their spend and the pocket is continuing to head

towards digital. >> follow the money, as they say. i think 1850 is your price target now on alphabet thanks for your time tonight real praesht it. >> john. >> we have a margin flash on shares of galactic dominic chu has that >> off of their best levels of the day, they had been higher by 6% or so earlier this is following comments from named short seller jim chenos and this occurred at the conference in new york city that he would not go long on any of the publicly traded space stocks he clarified those perceived bullish comments were a joke about space being infinite kelly, john, getting a little clarification on those comments and a cautionary tale of trading based upon single conference headlines, especially in the age of zoom. those space shares in

focus that's the reason why they ran up and why they're coming off now. i'll accepted things back to y you. >> short seller jokes. never know which way to take those. still ahead, netflix is treading water today but it's been up 60% on the year so far we'll look at what you should expect plus, impossible foods just hours ago unveiled an alternative milk to add to its alternative meat we'll talk to the ceo of the company a little later this hour (upbeat music)

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welcome back to "power lunch. i'm seema mody investors looking to see about spends that will translate into subscriber growth. let's bring in the trade nation team mark tepper, i'll start with you. you've been a big believer in netflix. is there something the ceo could say today that would make you less inclined to own this stock?

>> for me it's going to be all about the churn. right now it's 51 degrees and completely gloomy today in cleveland. winter's coming, covid is flairing back up and streaming isn't going to lose momentum for the foreseeable future whenever netflix had a bad time in the past, it was because of churn. so the guidance on net paid ads was very conservative, had it at just over 2.5 million. i think it's going to come in above 3 million. movie theaters are dying who knows if they'll even be a thing in five years. i think you're going to see more and more of these movies go straight to streaming. and i happened to watch the new adam sandler movie yesterday with my kids i got to tell you, it was no "billy madison," no "happy gilmore" but it kept us busy

netflix's pricing power is getting stronger the percentage of respondents who said they would pay more for a subscription has gone from 48% at the end of last year up to 53% today and that's very strong and good for the stock >> you say netflix is at a critical juncture. can you expand on that >> on a technical basis the stock is moving up toward this $ $550 level three out of the last four months twice it got slightly above it but only very slightly so. it wasn't enough to confirm a breakout if it can finally break above that 550 level in a meaningful way, it will be very bullish i think it's going to come down to how much of a lockdown we get on a new wave of the coronavirus and how much stay at home impact that has, but if it fails and

rolls back over and breaks below the 510 level, that's a trend line going back to march, it probably means it going to go down and te tst the summer lowsa 1400s. still look for a lot out of this stock before the year is out >> matt and mark, thank you for joining us today for more "trading nation" follow us on our web site >> now coming up, our regular tuesday sit down with tilman fertitta we'll check in on how his restaurants and casinos are doing and of course his basketball team. here is what he told us about the team's general manager >> darrell's job is safe i'm sure he's going to pick the right head coach >> all right well, now he's gone. so what happened why did he resign and who is

tilman going to hire as general manager and head coach "power lunch" will be right back >> announcer: and now the latest from trading initial.cnbc.com and a word from our sponsor. >> look to buy pullbacks from supports such as trending lows d vi aras.anmongvege

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welcome back, everybody. i'm sue herera here's your cnbc news update at this hour. the cdc reporting 285,000 more deaths in the u.s. than in an average year two-thirds of the deaths are from covid-19. the rest from other causes that may be related to lack of medical care amid the pandemic the group with the largest increase this so-called excess deaths is 25 to 44-year-olds the report covers the time period through mid september >> in milwaukee, a sped-up shot of the line stretching outside one polling station. it is the first day of early

voting in wisconsin. the polls will stay open through november 1st >> melania trump will not be traveling with her husband the first lady has a lingering cough from her bout with covid-19 and in northern california, 50,000 utility customers may lose power tomorrow to prevent power lines from sparking new wildfires. a similar blackout was ordered just last week >> sue, thank you very very much let's get a check on the markets. we're just off session highs the dow off 1% we were up about 350, a little earlier on similar gains across all the major averages, about 1% today again, a lot of dlevitation on these stimulus headlines the oil market subject of a lot of deal activity dom? >> the oil prices higher closing

out near session highs and the highest levels since around early september. wti crude futures now $41.51, 1 3/4% gain there. you can see there 43.9, 1% gain there. it is the optimist over the broader markets and potential bullish markets and more supplies coming from libya, which did not produce oil because of a military conflict we'll keep an eye on those oil prices back over to you >> thank you, dom. coming up, we're going to ask tilman fertitta what he's seeing in his restaurants he's not looking for a general manager of the rockets he hired one last week first restaurants, let's get to kate rodgers as many cities and states had to dial back indoor dining recently. >> the restaurant recovery is continuing its so march forward.

black box intelligence reports comp sales were down 7.4% and traffic fell by 13.5% but those numbers are not at strong as the week prior trends in recent weeks do show an uptick in consumer spending fast food and pizza have been the big winners during the p pandem pandemic turnovers continue to rise casual and full-service restaurants staffing levels are still reduced. more consumers may also be opening their minds to going out and actually eating a tt a restaurant 45% of customers say they are comfortable dining out at this point in the outbreak. that's off the high that we saw back in september, but still much higher than it was over the summer how attitudes shift as cases continue to climb around the country remains to the seen. kelly, over to you

>> all right, kate thank you very much, kate rodgers. let's talk more about the state of the restaurant business here in the u.s it's time for our pulse check on the economy with tilman fertitta, owner of the houston rockets and author of "should up and listen." the thing that jumps out to me is you're seeing a big split between what's going on in middle america and the coast is that right? >> definitely. middle america, the south, people have said we're done with covid. what's really interesting is we're not getting cases. are there cases around yes. but with all the customers that i have coming in and with all the employees i have, we are just not getting the cases west coast, same thing we're not really getting the cases. my customers are in the restaurants. remember, in the city of l.a. and l.a. county, we're still not opening, we're having the patio. at least in new york we're open 25% but there are no customers it is extremely slow because

this is convention season. your leisure guest is done, they're not traveling on vacations, the kids are in school but you know what? there's no conferences, there's no people visiting, there's no bankers flying around. you go look at all your banking companies that we all know they don't have any entertainment expense. they're all making a lot of money. >> well, that actually is an interesting way to look at some of the quarters that they've just posted, tilman. their expenses are down, their profits are up >> they don't want to tell you th that >> yeah, i'm sure. but you guys are feeling it. it's a good reminder this is the food chain of how this all works. so in some places where we have seen case counts going back up, that includes the northeast, new jersey is seeing a resurgence. they're talking about -- just starting to talk about maybe dialing things back a little bit. now, it's hard to dial back from a low level but those are still the conversations that are out

there. what happens if we see people kind of saying we're not ready to take that next step or maybe we need to think about reimposing some limits here on dining >> well, in the northeast i just don't think you can do any worse than only being opening up 25% of your restaurant i mean, right there, you know, in midtown where i had these huge restaurants and morton's, del frisco's, the strip house, b bubba gump on times square, people aren't even sitting next to each other at 25% occupancy so there is no threat. our employees are not getting it and our customers aren't getting it i just don't see how you could cut it back any more than that, kelly. because then you're back to a full flown shutdown and you have to lay off everybody again at some point you've got to worry about the mental health of america. >> mm-hmm.

so let me pivot and ask you, tilman, with a couple of weeks to go until the election, i think you were anticipating a blue wave outcome. is that right? >> well, i just look at the polls and i'm looking at all the absentee ballots right now and all the mail-in and it's 2-1 democrats. you know, i've always tried just to be a real ist and that's wha it looks like. i always prefer a divided country where you have at least the house or senate belongs to one party and the presidency the other because that's really what i think makes life better for everybody, but it looks a little scary right now that one party is going to have all three, the house, the senate and the presidency, but, you know, we'll wait and see is it going to affect business definitely if the democrats get all, i really feel sorry for minimum wage, hourly people because so

many are going to get laid off because they're going to try to raise the minimum wage where restaurants and fast service cannot compete they'll try to take away the tip credit where you have waiters that make hundreds of dollars a night but they want them to make the same amount as somebody in the kitchen that is truly unfair so i see hundreds of thousands and millions of jobs go away honestly if they win the house, the senate and the administration >> it's also interesting to see the plight of the cities and think about the way that might affect state and local politics going forward. >> for sure. and right now we're doing business in the suburbs, okay? it's your downtown areas that are doing absolutely no business anywhere you're around the business community is the restaurants and the retail that hurt the most. and as things change and if

there is a blue wave, it doesn't only affect your downtown areas but of course all your suburban areas, too, and the way things might change but i hope we just all learn to handle covid a little better we seem to have our arms around that the amount of deaths, even though we've got a spike, we're up to cases of 50,000 again, the deaths are in the very low hundreds so we have learned how to treat this, just like the flu and everything else that's ever happened we're a very smart country, we're a very smart world and i think we're handling it all very well right now >> i watch those figures i hope they don't start moving up again i have to ask you what's going on with basketball did you try to keep darrell morian in his job? why did he resign? >> derek came back from the bubble i made a statement on cnbc and the next day they get back and darrell's always had an out in

his contract this was the year his last kid graduated from high school where he could do what he wanted to do he always told me he wanted to go up east that's why he's had a guy like raphael stone that has been his right hand that has always worked with us i understand darrell's been mehere 15 years. he always told me this when i bought the team he'd like the opportunity to hopefully go back up east one day. that's where he's from and he wants his children to experience that up there and i get it and i understand it. darrell's still here helping us with our coaching search and usually in sports when you're gone, you're gone. darrell's not gone he'll always be there for me i appreciate everything darrell's done for this franchise and what he's done for me as a new owner over the last three years. >> tilman, i confess i haven't been following the season as closely as i was a few years

ago, but i know that people are a little worried about the rockets' future and saying the prospects aren't that great and do they need to start thinking about blowing up the roster. do you have any kind of -- what would you say to those folks who are speculating about what kind of changes could be coming >> well, i mean, you have james ha harden and russell westbrook and you have 90% of your salaries tied up in them. any time you have players like that, eric, p.j., james and russell, there's no reason to blow up your roster. this is still our window the next couple of years james and rust sell are in thei early 30s. we're not blowing up anything. we plan on contending. i've always said you want to set yourself up to be one of the top four teams in your conference each year and then it takes a little luck to win if you look at every year, it

always takes a little luck so we're going to set ourselves up to make the moves, to be one of the top four teams. we're going to do whatever we have to do to win. i can promise that to my fans and compete for another championship this year >> a little luck applies to basketball and certainly applies to business with everything going on this year tilman, thanks so much for your time we appreciate it tilman fertitta. john >> coming up in power movers, tesla's losing streak a little bit. and a big pop in a company that we told you about yesterday is sori soaring today. and we're watching the broader markets and hopeful a stimulus deal might just get done "power lunch" will be right back

(music) anncr: give customers access to precisely what they want, when they need it the most. with adyen, the payments platform that delivers convenience for all. adyen. business. not boundaries. time now for today's power movers i feel a little guilty saying this because it's higher than it was just ten trading days ago. tesla is on pace for its fourth straight down day, its longest losing streak since the middle of march but the stock is up 400% this year tesla reports results tomorrow next up uber popping intra day,

the ceo talking about the ballot measure in california that would keep uber drivers as independent contractors, not employees if that fails, prices would rise as much as 40% in big cities and double in small are tower towns yesterday we heard from an animal bullish or corsair, all initiating coverage with a buy, overweight or outperform rating, kelly. >> wow shares up more than 16%. that's a monster two-daygain let's get to the bond market now where the ten year is almost cracking 0.8%. rick santelli. >> almost but not quite there. if you look at a three-day chart you can see it's only several basis points a day but we built on yield highs the last three sessions and now it's about knocking on the door as you see on the chart starting in june, whether it's at 80 basis points or 160 basis points, 1.6 for 30s and

obviously we haven't closed above those yields since june. you know, on the wires today, there was a new york fed executive vice president and he was speaking about the corporate credit facility and talking about how they could tweak it. that's not what i want to talk about. i want to say, boy, i wish every fed program was that successful. they basically purchased 13 billion and they ended up supporting as you see on this chart the lqd would would be the same, all the credit spreads would be the same, they've done a magnificent job of underpinning that market if you look at the euro and the dollars both are at treeextremee haven't seen in one month, not in the dollar's favor, by the way. back to you. >> next up, the ceo of impossible foods will tell us about his company's enough mk.il we'll put that in quote, "milk." stay with us - [narrator] at southern new hampshire university,

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meatless mania taking a new twist today as impossible foods unveiled its milk substitute we will talk about the company's ceo in a moment. first, adehe roy has the details. >> impossible foods showed off a milk prototype

just look the meat products the milk is lab created. it showed a lab demo how its milk is more like cow's milk than soy and almond milk used on the right. the company used it as an example the types of products that are in its pipeline the company is also announcing it will be doubling the size of its r and d team from 150 to 300 over the next the months that will include a team often scientists the plant based food company will call impossible investigators they are recruiting academics who want to do research that align with the company's mission of replacing animal agriculture impossible raised a new round this summer bringing the company's total funds raised this year alone to $700 million. its valuation, more than $4 billion.

the company announced this week for the first time its products will be available at grocery stores in hong kong and singapore. a lot of announcements there, john. >> quite a few stay with us hear the talk who about making a plant based milk that tastes like cow's milk in a first on cnbc interview, impossible foods ceo pat brown. pat, good afternoon. great to have you. i have to admit a little bit of skepticism here because you run the risk of doing what they used to call in silicon valley vapor wear if this milk product isn't ready, why announce it >> i think that one of the -- one of the things about our company is that, you know, it is, above all a -- i would say a planetary technology research institute. it was founded to address the greatest environmental threat our planet has ever faced, which is the catastrophic environmental impact of our use of animals as a food technology.

it is by far if the most destructive technology in human history. it so happened when we were founded to address this problem that the solution involved building an entirely new technology platform that enable us to far moresustainably make better versions, better in the sense of doing a better job of giving consumers what they value of meat, fish, and diry food directly from -- dairy food directly from plants it is by far the most important science and engineering project in human history. >> wow -- >> because it is the only way -- >> that -- >> it is the only realistic way in you are lifetimes to turn back the clock on climate change and halt a catastrophic collapse in biodiversity. >> between nuclear power and carbon emissions that aren't from animals that is placing your mission in grand terms.

i appreciate that. let me ask more about this milk product itself >> look up the science it is proven. >> okay. okay is it going to be healthy, healthier than milk? or is the main focus on not coming from animals? soy milk, almond milk -- a lot of these other milks, part of their claim and reason is, hey, this is healthier than the dairy version. are you trying to be healthier >> of course but here's the point, that there are still a lot more consumers in the world who are choosing the cow-based product. and the products that are on the market are great for people who are looking for a milk alternative. most dairy consumers are not in order for us to achieve our mission, which is not to be a milk company or a meat company it's the to replace the most destructive technology on earth we have to deliver products

which do a better job of delivering deliciousness, affordable, value, convenient and all of that. yes, of course it has to be better from a health standpoint. it also has to be uncompromisingly delicious to someone who loves dairy milk you know, tastes like a sweet white liquid pat brown thank you. aditi, a wanted to got you in there. but pat, a lot of explaining to do about this milk glad you could join us here on "power lunch." >> john, thank you very much going to take a quick break. when we come back, more "power lunch. markets higher into the final hour of trading. we will tell you what is driving this move. don't rgfoet you can always watch and listen to us live on the go on the cnbc app we'll be right back. ♪ ♪ ♪

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welcome back to "power lunch. kelly, the major afternoons are holing onto gains though they lost some steam just in the past hour i don't think it issing awe said but there are hopes with stimulus coming through. a couple of stocks i have got my eye on after earnings ibm down as revenue growth continues to be elusive. lodge tech, though, up nearly 16%. that's a company with gaming hardware, with web cams. i mean revenue up 5% because of the times we are in. >> yes, they are absolutely in the sweet spot john, also what about shares of uber today >> yeah. we were just talking about prop 22 and the possibility of that

passing in california. from the polling i have seen, locks like it will that would take a lot of the regulatory head winds around this question of employees or contractors off the taliban for the gig economy names. uber is the biggest. >> uber and gm up about 7% john, it has been a ples uniform thank you, sir thanks for watching "power lunch," everybody. "closing bell" starts right now? welcome to the "closing bell," everyone, i am wilfred frost along with sara eisen. stocks gaining background after yesterday's selloff. the major averages up around a percent as we head into the time hour of trade. what's driving the action. house speaker nancy pelosi sending an optimistic signal on stimulus saying it was possible a deal could be reached by the end of today and senate majority leader mitch mcconnell said the senate would consider a larger package if a deal was struck between the