good morning, it's 11:00 a.m. on wall street and "squawk alley" is live. good thursday morning, i'm carl quintanilla with jon for the ajon fortt. dow not far from session highs plus 647 not far from going positive for the year we're watching covid-19 cases, fed decisions, earnings, election is number one >> it is sure is, carl that's where we'll begin the trump administration filing

suit in multiple states to stop vote counting. here's a look at where things stand that hour. in the race to the 270 electoral votes to win the white house, according to nbc, vice president biden has 253, president trump as 214 we continue to await results from five critical states, pennsylvania, north carolina, georgia, nevada, and michigan. president trump holding on to the lead it is continuing to narrow as mail ballots are being counted the pennsylvania secretary of state will have an update next hour in arizona, president trump narrowed the gap but biden is holding on to a 68,000 vote lead we're still awaiting several hundred thousand votes in maricopa county, the most populous and diverse area in the state. a new count there expected to come later tonight and in georgia, vice president biden has significantly narrowed the gap which recently stood at about 18,000 votes and more than

60,000 votes outstanding new numbers from democrat leaning fulton county coming any munn a minute and that's where we find contessa brewer. >> hi, jon we're in bacon county which like most of the other rural counties in georgia has already accounted for its ballots. here 86% for trump but as absentee ballots are being processed, trump's lead is shrinking. at midnight he led by 372,000 votes. and then 24 hours later, he led by 23,000 votes. metro areas saw the absentee ballots coming in and being counted. i want to show you a live look at ballots being counted in fulton county. this is the atlanta area we're expecting more vote tallies there coming shortly election officials say just minutes ago there are about 11,200 still to go remember, this morning they said that 7500, that was just before

6:00, and now they're increasing that the margins are razor thin a total of about 60,000 votes still to count, less than .5% separating trump and biden and waiting on the results in the bigger metro regions, atlanta, savannah and others. biden has a clear advantage. president trump and the georgia republican party filed a lawsuit in this state accusing chatham county properly counting absentee ballots received after the state's deadline a poll observer claims that he saw a worker mishandling ballots. the county election supervisor there quoted in local media saying, look, this observer doesn't know what he's talking about. there is a log of every ballot that comes in and continuing to track that ballot as it's processed. as we wait for the vote totals, keep in mind in georgia, if the margin is less than .5%, the candidates may demand a recount. so even when we get the vote totals in and part of the delay

is they have a new way of adjudicating it where the machines mark something even with a stray mark on the ballot and spit it out for review that is part of the delay. even when we get the vote totals, if it comes within .5%, that means we could see a recount. >> right thank you. i know you'll be watching all this for us. all faang stocks are rallying today, continue to rally with the markets have the best week since april. joyce chang, j.p. morgan and small cap growth fund portfolio managers join us now good morning you to both joyce, let me get to you first investors, they're cheering the prospect of a divided government are they pricing in economic uncertainty as covid-19 infections rise and potentially get ready to see a smaller stimulus package >> well, i think divided government means you're not going to see radical change either way some of the fears about getting more populous, more regulatory

issues coming up, some of that is going away. but we're already seeing some sounds about the fiscal stimulus now it might be smaller than some people thought. it may also come earlier we still kept the gdp growth for the fourth quarter at 3% for the u.s. i mean, we had to take down the revisions in europe, you know, by comparison. so i think the market is going to look at the government refunding bill we can get some small stimulus done, maybe on airlines, maybe on ppe that can actually happen in december and then you get something that is, you know, maybe it's not $2 trillion but $1.5 trillion that's done early in 2021. >> chris, let me ask you about mega cap tech. just a week ago we were talking about earnings the names were under a fair amount of pressure after expressing uncertainty about the quarters ahead has that narrative totally gone

away at this point investors certainly focusing on the growth prospect and potentially, you know, regulation being held up in a divided government >> so what i think we're witnessing is a reversal of the potential for the blue wave that i think people were preparing for. and so with that, what's been taken off the table is really some of these more far left progressive policies that i think the market was fearing and one of them at this time of the year is potentially higher capital gains. and some of those winners going into this would have been at risk where we would have seen more selling so we are seeing that abating. we think that's good for the markets here we have had a good few days so far. but i think, you know, once we get out of our earnings season which has been a little better than expected, we're going to come back to, say, what is really going to be the impact of covid-19 what is going to be the impact

of divided government if there is a change in the white house what sorts of policies would they may put in for executive orders i think it's going to be a less pro business environment if that's the case. but with a republican held senate, i think a lot of things will be held in check. and they'll probably not be a lot done over the next four years unless it's sent out from the white house. >> joyce, i wonder what are you telling investors who are surprised at the ease with which the market pivoted from blue wave bullish narrative to now a divided government bullish narrative and think this is just in discriminate buying and why is there no period of turmoil as we got the new political forecasts? >> this is not a way for either the democrats or the

republicans. but it's been very orderly i think that's what the market is focused on. when we did a lot of our investor surveys, they were worried about something that would be very disorderly so the real winner here i think is the state election officials. you have an unprecedented turnout. it's been very orderly and very peaceful so far. i mean what the market will look at is this going to drag on and how much longer? it looks likes the results are coming in steadily and relatively quickly we're in a world of divided government but that means no big tax changes. lower rates are longer some fiscal stimulus that will be forthcoming even if it's not near as big as what might have happened but no radical changes so the focus will turn back to the economy. where are we with respect to covid-19 and central banks have remained very supportive here and we've seen that from, you know, the ecb, from the bank of

england earlier. we still have, you know, very much anticipation that, you know, the central banks need to be there and that we need another stimulus to tie us over until we get more progress on awe vaccine. >> good morning. now i know you watch small caps. i want to ask an ecosystem question what we just had qualcomm's ceo on that stock is up better than 13% so far this morning on the back of earnings. partly because 5-g adoption is going better even than qualcomm expected now there are down stream effects for lots of stocks potentially. i imagine many of which you're watching in this 5-g transition. what should investors be paying attention to there this morning? >> well, 5-g is certainly been a growth theme we've been talking about for the last couple years. and it is here you're still going to see a lot of expansion within the

infrastructure and with the devices. you want to look at the supply chains like a qualcomm is a perfect example. but there is a lot more components than just qualcomm into the devices and what makes the system work. so we would expect to see those supply chain companies continue to do well that's an area that we feel very strongly, quite frankly, with whatever the outcome of the election would be. there are, you know, certain materials that are out there, material stocks that are making these technologies possible. so that too is, you know, where we've been putting money in the small cap companies. and we're still excited about it i would just say in a general sense though, we've had this reversal and euphoria in the market that makes us maybe a little more cautious right now that we got a lot of great gains right now. but there are still some good names out there for communication, you know, for delivery, for content processing so those are areas that we think

still remain very well >> joyce, last one for you when folks are thinking about potentially rebalancing their portfolios, let's say from growth to value, what is the most important factor? is it still the pandemic >> well, pandemic and also the executive orders what will some of the first executive orders deal with that a potential biden administration could issue? and there will be a lot of focus on the energy sector could he actually try to reverse the regulations? the deregulations there. and also on climate change, rejoining the paris climate agreement. alternative energy will be in focus as well. it's covid-19 first and what the central banks are doing and also if we're going to be in a divided government, which ones will come first? i think climate change and energy are at the top of the list >> joyce and chris, thank you so much for being with us today and your insights. we'll talk to you again soon

carl >> thank you >> thank you >> got some news in just the last half hour here. the u.s. filed an antitrust lawsuit aimed at visa's acquisition of plaid the government alleging in the suit that visa is a monopoly and on line debit transactions. visa says they strongly disagree with the suit and will vigorously defend the transaction. we'll watch that visa shares up 2.5%. quk le cties in a moment you doing okay?

yeah. this moving thing never gets any easier.

well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today.

pod stocks are rallying to day. investors are optimistic over a biden election win and the prospect for further legalization of cannabis joining us with more on that is vivian azer, one of the deenz of t deans of the veep. >> we had a long discussion this morning about the ease with which the measures are passing it at the state level. new jersey, it feels like trying to push a rock up the hill it is your sense that we're now at the top of that hill? >> absolutely. there is a two billion opportunity for new jersey for adult use sales by 2025. the state legislature has challenges getting it over the finish line. they kicked it to the voters and the voters said yes. so now the mandate is for the state legislature to get it done we're modelling for commercial access of adult use cannabis july 1st of 2021, the same time

we saw for nevada. >> are we looking at volume growth among existing players or is this an m & a story >> that's interesting. you know, there was a big rash of m & a 24, 18 months ago. the doj reviews were really challenging. i think much more it's about organic growth for a market like new jersey, the key players, the gtis, green thumb, our top pick, pure leaf, they've already got, you know, one medical dispensary and they have options for two more satellites i think they build off the past and they have that >> vivian, there doesn't seem like a concrete path towards federal regulation so i wonder, could this create a patchwork of regulations for companies to operate in and does that ultimately hinder growth?

what we're calling for is decriminalization consistent with the commentary from the biden and harris campaign. candidate harris certainly called that out during her debate with vice president mike pence. we think there is about $10 billion in upside just from states moving the needle as you get montana was a surprise to us for adult use on the election night south dakota for adult use was a surprise to us now you have four republican senators that are representing adult use states so it helps. >> speaking of senators, we've watching these races in georgia and the potential for two runoffs. and the potential for senate

control now which i don't know, theoretically could not be under mcconnell. what would that mean for these names? >> that would be true will you transformtive for the u.s. operators. if the senate is controlled by the democrats, our base case is that we see a modified version of some existing legislation called the states act. we qualify and say it's modified, we think given the current backdrop you need a social equity kpocomponent. once you have the federal excise task, there is a nice domino effect that happens. that will address commercial access, it will address to the onerous tax regime that the u.s. operators are subject to and most importantly for us, it would necessarily result in capital access markets we would expect a listing of the canadian u.s. operators to the exchanges. >> fascinating

feels like we went through a long period where we talked about it then we didn't and now we're talking about it a lot vivian, good to see you. thanks for the help today. >> check out shares of qualcomm, carl surging after beating on earnings closer look at the quarter coming up next shares up more than 13% in today's session. stay with us (harold) twelve hundred strings of lights. (betsy) quarter mile of tinsel. (harold) and real snow all the way from switzerland. (betsy) hmmhm... gonna be tough to top. ♪ (betsy) well played. (vo) add some thrill to your wish list. at the season of audi sales event. get exceptional offers now. hi, my name is sam davis and i'm going to tell you about exciting plans available to anyone with

medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare you're covered for hospital stays and doctor office visits, but you have to meet a deductible for each and then, you're still responsible for 20 percent of the cost. next, let's look at a medicare supplement plan. as you can see they cover the same things as original medicare, and they also cover your medicare deductibles and co-insurance, but they often have higher monthly premiums and no prescription drug coverage. now, let's take a look a humana's medicare advantage plans. with a humana medicare plan, hospital stays, doctor office visits, and medicare deductibles are covered. and, of course, most humana medicare advantage plans include prescription drug coverage. in fact, in 2019, humana medicare advantage prescription drug plan members saved and estimated 7,800 dollars on average on their

prescription costs. most humana medicare advantage plans include a silver sneakers fitness program at no extra cost. dental and vision coverage is now included with most humana medicare advantage plans, and you get telehealth coverage with a zero dollar co-pay. you get all this for as low as a zero dollar monthly plan premium in many areas, and your doctor and hospital may already be a part of humana's large network. if you want the facts, call right now for the free decision guide from humana. there is no obligation, so call the number on your screen right now to see if your doctor is in our network, to find out if you can save on your prescriptions, and to get our free decision guide. humana - a more human way to healthcare.

5-g is dropping down in price tier much more rapidly than you would normally see in the early stages of a technology transition if you compare it to 4-g, the tiers absorbing 5-g are faster than what you would have seen back then. poi the second point, you see the richer phones being purchased in the higher tiered. you see that in the developed world and in china so for example, in the new apple

devices, they all have 5-g and i think people are willing to pay up for more technology >> that was qualcomm's ceo talking about 5-g, demand and mix. keep in mind, qualcomm was at $68 at the beginning of the year the deck appeared stacked against them they were in these legal fights with big names, with countries, apple, for example, for a long time that has cleared up. and now coming through this covid-19 epidemic that we're still in, demand for 5-g devices is not only diverse moving into cheaper phones but the people who are buying premium actuary phones, think about the i-phone 12 various tears that are coming out. they're also buying high end phones so multiple areas of good news they had a beat on the top and bottom they guided about a billion dollars above consensus.

eps, midpoint at $205. lots of positive news for qualcomm >> absolutely. making them one of the best performing chip makers this year they had to overcome the obstacles you laid out, jon. how much can we read into apple iphone 12 demand i know we were disappointed last week, investors were at least when apple didn't give a sales guidance for the 12. of course, qualcomm has lots of different customers beyond apple. did you get a sense of how far we can or cannot read into that part of the story? >> that's what i was trying to tease out. i was asking steve about demand in different categories. the mix toward the premium tier. and what i heard in that answer that he gave is that in the premium tier, demand is pretty strong people are willing to pay up for more technology. now that holds throughout q-4, that should translate, carl, into good demand for the iphone

12 pro and pro max which would mean that they can sell as many as they can make perhaps that's what tend to get from april until a holiday season and the margins should be pretty good so that's the read through if you're looking to be optimistic on what qualcomm showed in the ecosystem overall. >> it gets backed up over at verizon and jpn. they go to overwait. talking about wireless services. also rolling in some election dynamics, too. lower risk of tax hikes, of course, that 4% yield. watching markets here, no the too far from session highs every single dow stock is green along with names highly exposed to areas like china. dow and cat erpillar lead the undechl at the moment. but we didn't stop there. we made a cloud flexible enough to adapt to any size business. no matter what it does, or how it changes.

and we kept going. so you only pay for what you use. because at dell technologies, we stop...at nothing. ♪

♪ i got it all from you ♪ i'm always pushing through ♪ i know we'll make it to the finish line ♪ ♪ i know you're waiting on the other side ♪ ♪ i'm like you on-demand glucose monitoring. because they're always on. another life-changing technology from abbott. so you don't wait for life. you live it.

welcome back, everybody. i'm sue herrera. here is your cnbc update at this hour hour in minnesota, a judge declined to move the trial of four police officers charged in george floyd's death. they argued that their clients cannot get a fair trial in mincminc minneapolis. the head of an international delegation monitoring the u.s. election found no evidence of

vote tampering on election day he said they also looked into president trump's claims of mail in ballot fraud and found no violations in greece, the government there announcing a three week lockdown to slow new covid-19 infections. those new restriction goes knee infect on saturday and people in south florida will be keeping a close eye on the remnants of hurricane eta. the storm caused deadly flooding in honduras. eta is expected to hit cuba this weekend. it could approach florida early next week. we'll be keeping an eye on that for you. you're up to date, jon, back to you thank you, sue we're approaching the bottom of the hour let's turn back to the market action we have an update on where things stand. >> market action that is very, very much bullish, jon it has been for the past few dawes for t days for the markets overall we had had uncertainty going into this particular election week as you can see right now, the dow jones industrial average is up 2% right now. 556 points to the upside the s&p 500 up by 74

2% gains there that is picking up above the 50% average price. taking a look at the cross currents moving with the markets right now. what is driving some of the action the sectors so far this week that have done the absolute best, that have been driving the action to the upside have been the technology sector which is up about 9%. the health care sector which is up about 8%. and the consumer discretionary is up 8% as well the three sectors, three of the biggest and heavily weighted ones have been driving a lot of the upside action here with regard to those three sectors, some indicative stocks that we've seen, telling that story of why those sectors have been doing so well, there is a resurgence in semiconductor names. the semiconductor etf, one of the big ones that tracks it, hit a record high today. nvidia, onest big names, up 13% on just that week to date basis. on the health care side of things, health insurers, very much in focus again.

cigna, one of the top performers there, earnings were a big part of that story. so is this notion that deregulation or -- i'm sorry, not deregulation, a lack of more regulation coming down the pike because of a blue wave in washington, d.c., could be helping the names. cigna up 30% and pulte group, a resumption of the home builders to the upside there. one other key stock to watch over the course of the past few days has been amazon one of the biggest companies out there. this on the heels of regulatory filings showing that jeff bezos sold about another $3 billion worth of amazon stock bringing the total sales of amazon stock he's had so far in 2020 to north of $10 billion and we know that he still has about $170 billion worth of stock still though at these levels, we're talking about amazon, a $1.67 trillion market cap company. a very big one out there, especially in the case of vud possibly rising in the fall. one of the names to keep an eye on in the consumer discretionary

sector back to you. >> absolutely. bezos taking billions out, you wonder if he is putting that into blue origin thank you for laying that out. we head to break check out shares of alibaba. they're under pressure again today despite beating earnings expectations the stock also trying to recover following ant group's consolidation this week. eaua aeyafr e teth brk. goent anywhere

with this seal, this restaurant is committing to higher levels of cleanliness. ♪ ♪ ♪ ♪ the expertise that helps keep hospitals clean, is helping keep businesses clean too. look for the ecolab science certified seal.

(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.

shares of uber and lyft soared and the drivers can remain dpint contractors this morning i caught up with lyft's former secretary of transportation and he said that they will try to replicate the win in california with the same playbook >> what we're expecting is that other states might have otherwise been teed up to replicate this and what we want to do is engage in discussions with leaders of states who maybe considered that and to try to talk about a different model, a different way to pursue what i think we all want which is to make sure that the drivers are well taken care of, not only when they're driving but before and after and to make sure there is clarity and certainty in this so that it's not living under a cloud. >> so, jon, this was a big win

not just for the ride sharing companies but for the economies in california at large and potentially in other states as well but we should note that this was a very expensive ballot easure the wins are not guaranteed in other states and it will rise -- raise the cost regardless because they did promise certain protections and benefits in return for that support. jon, we do get uber after the bell tonight and the focus now really shifts to that feeling like it never ending path to profitability and with uber shifting away from ride sharing to food delivery we'll see how elusive that remaunz. >> yeremaunz. remains. winning may have been expensive but losing is even more expensive. now they have to change the narrative to one where let's figure out we take care of this class of gig economy workers and make sure that they're the worker protections that we're trying to be mandated by some through making them employees.

i mean, there are still questions about what happens with sick leave, what happens with other kinds of safety net type benefits that these workers need at a time like we've seen in this pandemic when they can't actually go out there and make that buck that they try to make day in and day out, carl we'll have to see if they manage to make the changes that fox was saying they want to. we're going to take a quick break. and we're on with qualcomm at cdw we get you want happy, productive employees. well we've made our office pet friendly. [ bleat ] [ cooing ] maybe a little too pet friendly. well you know cdw can design a mobility solution with light powerful devices from lenovo to make your people more productive in or out of the office.

anyone have any questions before we go? that's great cause i really need to get out of here. snake people are freaking me out. hey sheryl, you have a sec? -nuh, uh. for work place productivity you need lenovo, and it orchestration by cdw. people who get it. do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized that we needed a way to supplement our income. if you have one hundred thousand dollars or more of life insurance you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on your screen. coventry direct, redefining insurance.

we do have news out of georgia this morning the superior court of chatham county, georgia, dismissed a case today ruling on a -- the trump campaign and the republican gop's lawsuit filed there. claim to essentially that an election observer in the savannah area saw an election worker handle late mail ballots in a manner that might have mixed them this with ballots that arrived on time pete williams said of all the gop lawsuits filed since election day, this seems the least significant but we're keeping an eye on that obviously for a variety of reasons. in the meantime, arizona is another battle ground that we're

watching closely we're all over that for days and joins us with the latest >> hau, carl what you're looking at here in arizona is 400,000 uncounted ballots at this time and donald trump is going to have to win about 60% of them in order to catch up with joe biden here in this state but you look at last night, there was 150,000 ballots processed. and donald trump did just that so essentially if donald trump is able to maintain that 60% to 40% line, he would match joe biden here in the state. the big question here is, as i was talking with a top biden official last night, they believe that in that last batch that batch that will be the ballots that were hand delivered on election day, not in person voting but mail in voting, mail in ballots that were hand delivered, those will trend at a better rate towards democrats because they believe that more democratic voters as well as independent voters showed up on election day itself to turn over

the ballots. whether that's the case, we're not sure at this time. the trump campaign though has hoped that essentially this margin in which donald trump has been able to operate off of continues because you remember on election night, joe biden jumped out to a double digit lead ever since then, he clawed away at that. and now the question is on the last batch there which we should expect another portion to be released later on tonight in the state, will those slow down and be more like a 54%, 53% for trump as posed to that 60% threshold he has to meet in order to catch up to joe biden carl >> yeah. it's so fascinating. you think about arizona right now, you think about data coming in later in the day, right given the time zone difference you think about controversial calls made by some decision desks that the white house did not like and now you have biden's campaign manager on the wire saying that it may take time to

get full results there and that margin in the state may tighten, like you say >> yeah. and if it does in fact tighten here, it's to what extent do we start waiting on the likes of provisional ballots? in tucson, there are 18 provisional ballots. we could be in a situation where we're waiting four, five days at this point and again though, i will actually hashgen back to 2018. we had a similar situation here in the state of arizona. it was a u.s. senate race between martha mcsally the republican and the democrat and on that night martha mcsally had a lead shech she won in person voters by .29%. what happened on tuesday donald trump won in person voters no the only in this county but statewide two years ago, mishcsally insis that the mail in votes would reflect those who voted person that ended up not being the case 48 hours after that election night, they took the lead because she had a better

advantage compared to in person voters than mcsally did. so that is what joe biden's campaign is hoping is reflected in these results that we're going to get here over the next couple days as well. because donald trump won by about 65% in person voters so if you chop that back by 10%, joe biden wins here in arizona >> fascinating great work out there, by the way. it's been amazing to watch you work on tv and on twitter. thanks so much let's bring in stacy cunningham, president of the nyse to talk more about how the exchange went into this period of uncertainty, stacy. i wonder if you can just fill our viewers in on preparations that you made in advance and your sort of characterization of the status right now >> i think mashgs arkets are opn the way they're expected to. coming into this period of time, we didn't take any steps above and beyond what we do all the time we never know when market volatility might hit we need to be ready for it at

any point in time just like we were in the spring when the pandemic triggered major market volatility what we've seen is that, you know, election has been a bit of uncertainty that was, you know, out there as investors were looking towards what steps to take in the market the markets are reacting well right now despite the fact we don't have a clear answer. things are operating the way they're supposed to. >> aside from actual market mechanics, is there a sense that because we're sort of on the dark side of the moon here we may not know answers for some time that i don't know, ipo activity, pipeline, stuff like that slows down? >> yeah. we tend to see throughout history, you see companies saying that they want to delay the ipos or avoid november based ond whatever market reaction to election results might take place. so there is that discussion that is happening all year long as companies have been planning they typically were avoiding this period of time. so while september and october were both months that are busiest ipo months on record,

you're not going to see that same level of activity in november but then again in, december and q-1, we're starting to see a lot of companies, you know, they're still targeting that time frame to go public i don't think it will have a long lasting impact. certainly people just want to avoid any uncertainty in the market as they're going public for the first time >> stacy, i know that companies that list on the nyse value having someone to talk to when they got questions about the market and perhaps the movement of their stock how have the questions changed during this period even just the past couple months >> yeah. i think everyone is trying to make sense of what is happening in the market overall. what are the drivers of major market moves we've certainly seen a lot of movement both to the upside and down side. markets move more quickly than they used to those are the type of questions that we're getting from companies as they're trying to figure out what is happening as stock prices are moving very, very quickly a lot of that has to do with the way stocks trade today across so many different marketplaces and

as retail investors and others are making sense of news out there. they're moving more quickly because markets are fragments. that's been a trend. you like to have visibility in who the investors are so the provisions around 13-f filing that's disclose what stocks institutional investors have positions in as an area of focus for us with our listed companies and advocating for that transparency so they understand who their shareholder base is. that's an area of focus as well. >> stacy, i want to go back to the ipo pipeline conversation and royaltiers theuters that ais anticipated listing could release the pro inspectous as early as next week setting the ipo in motion. and the company chose to list on the nasdaq so i wonder what pitch are you maching making to tech startups? why do you think you came up

short on this one? . >> we're number fwhunone in ipo proceeds and tech. some of the reasons why those tech companies choose to list on nyse is because of that market maker that jon was talking about, having somebody responsible at the controls to oversee the complex opening of the stock for the first time and then trading each and every day after that beyond that, many of the tech companies want access to our nyse community so with 70% of the s&p 500 listed here, those are the potential clients and partners and so we can bring and harness the power of our community to attract new partners for them, new clients, new relationships and m & a. and importantly, to solve some of the problems they're trying to solve like diversity. one things that been an important issue for many of our listed companies is how do they tackle providing more diversity on the boards? so we use the power of the nyse

community to do that by having a board advisory council where 25 nyse listed company ceos provide names of diverse candidates that are board ready and vouch for which really provides unique value to our ceo base across the board. so they're really coming together a number of different reasons why companies choose the nyse time and time again. we're number one in race >> finally, stacy. what is your opinion in the response to the easterly zwraj of the game? >> yeah. they're a very different product than they were traditionally there is a lot of information that is provided investors have choices shareholders vote several times throughout the prois toes say whether or not they want to continue to be part of the business combination or if they want to redeem their investment. so there is a lot of, i think, unknowns about spacs that people have misconceptions and people don't really realize that level of transparency is there i don't think that will be the

answer for every company looking to go public now they have a choice companies can choose an ipo. they can chewsoose a direct lisn or a spac. each one of those paths is different. >> yeah. it's amazing how much innovation there's been we look forward to getting back there with one day >> i can't wait amazing how much innovation there's been. >> there's so much talk about the election i think we were so proud of our history because our founding fathers -- we found at that time to support the economic growth of this country but what's important is america was founded on the point that we can have differences of opinion and we get to convey those opinion when is we vote i was encouraged by the voter turnout. that's how we share our differences and we flereflect on what we see coming >> i couldn't have said it better we were just having a discussion

on how smoothly a lot of this has gone and the market's rewarding that without a doubt stacy, hope to see you soon. stacy cunningham of the nyse >> carl, check out the top gainers on the dow caterpillar is laeing the y,wa travelers and jpmorgan as well hi, my name is sam davis and i'm going to tell you about exciting plans available to anyone with medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare you're covered for hospital stays and doctor office visits, but you have to meet a deductible for

each and then, you're still responsible for 20 percent of the cost. next, let's look at a medicare supplement plan. as you can see they cover the same things as original medicare, and they also cover your medicare deductibles and co-insurance, but they often have higher monthly premiums and no prescription drug coverage. now, let's take a look a humana's medicare advantage plans. with a humana medicare plan, hospital stays, doctor office visits, and medicare deductibles are covered. and, of course, most humana medicare advantage plans include prescription drug coverage. in fact, in 2019, humana medicare advantage prescription drug plan members saved and estimated 7,800 dollars on average on their prescription costs. most humana medicare advantage plans include a silver sneakers fitness program at no extra cost. dental and vision coverage is now included with most humana medicare advantage plans, and you get telehealth coverage with

a zero dollar co-pay. you get all this for as low as a zero dollar monthly plan premium in many areas, and your doctor and hospital may already be a part of humana's large network. if you want the facts, call right now for the free decision guide from humana. there is no obligation, so call the number on your screen right now to see if your doctor is in our network, to find out if you can save on your prescriptions, and to get our free decision guide. humana - a more human way to healthcare.

welcome back you can see zynga is down nearly 9% at the moment frank, from the looks of it, some investors might be a bit disappointed in the earnings guidance, but you say you got to spend money to grow the harry potter franchise do i have that right >> good morning. yeah, it was a record quarter for us, a lot of really good results on the top line, profitability, margin expansion. as you noted, at the end we launched a hit new game, harry potter puzzles and spells.

we guided the street to 55% year end growth, which is pretty good we did highlight we were going to be investing more in the launch momentum of harry potter as we move into christmas. in general it's a strong guide from our perspective we remain bullish on the sector, gave reassurance on our guide in 2021 we will continue to grow double digits next year. we're well positioned in this growth category. >> when i think of zynga, i think of operating in the facebook ecosystem first, now in the smartphone ecosystem there's pressure on the likes of apple and google and their app ecosystem, they're accused of having monopoly power and not wielding it well are there fixes that need to be made so zynga can grow at the

rate and price that it should? >> i think that we're growing well in the current conditions and in any situation that is forecasted for it in terms of things that might change, they would be tail winds for us given the current market conditions are serving us well, we take a lot confidence from the fact this is the largest, fastest growing platform in the world, the proliferation of high performance smart devices globally is at a very high rate. with 5g coming into the marketplace, that's going to be a multi-year growth driver and if you look to this holiday, the new 12 series of phones coming from apple are offering new, interesting features the constant technical innovation you see in mobile, the expansion into emerging markets with global point to many years of growth for us. if there's changes related to regulatory or margins in terms

of content makers play platforms, again, my point there would be those are largely tail winds for our company. >> frank, talk a little bit more about the holiday season as more people continue to remain at home do you think that we're going to see more consoles gifted does that come at the expense of mobile gaming? >> i don't think so. the majority of the players at zynga are busy adults, the majority are women if you look to this holiday, there's a lot of new devices with the new series of apple phones, new google phones, as well as new consoles you also have to look at the fact that retail is going to be unsettled with a limited black friday it's going to be a very digital christmas. there's going to be a lot of gift carding for platforms, for the app stores and that bodes well for us as we head into

holiday. >> finally, frank, let's talk election a little bit. we don't know yet who the next president is going to be it certainly appears that the blue wave scenario did not play out. when it comes to things like data collection and the sort of marketing tools you need to reach your audience, do you think this more divided government scenario is good for zynga? does it matter >> you know, i think we respect the fact that our players' privacy is important to them and as the governments like the eu bring out gdpr and california has rolled out privacy ruse, we've incorporated them into our operations and things have gone really well. it's too early to say what new regulations will come. in general, our philosophy is our players' privacy is important. y -- as the election settles

tflt out, people were playing words with friends before this election, they're going to be playing words with friends after this election and it's our job to keep making high-quality games and services for them. >> all right, thank you. ceo of zynga, frank gibeau we see the major indices off the high and the dow up 500. we talked to qualcomm at the end of the 10:00 hour. that stock continues to be up better than 13%. >> yep stocks at a record high today, john, every dow component green. every sector green as well >> i can't help but take a look at the mega caps it's almost like october was just a blip. you see these early gains in november and they're just enormous it feels like trade is really back on. you see amazon up on the month

almost 10%, facebook up more than 12.5% sense november 1st. >> within hailing distance, clearly the market is still hostage to these vote updates. it's time for the half let's got to the judge >> thank you scott wapner this hour stocks racing to their best levels meanwhile the election still without a winner speaking of, we expect to get more results from nevada sometime this hour let's go to eamon javers with where this race is currently >> you see joe biden with the lead this has been frozen in place now for