past couple of years, scott, but it's near a 52-week high, all about mobility, 25 times earnings with a 2% dividend yield. i like it here. >> okay. and the good doctor. >> penn gaming, love it as a reopening play and the barstool crew got to love it, scott. bang. >> guys, thanks very much. appreciate it. thanks for watching as well. "the exchange" begins right now. ♪ thank you, scott welcome, everybody, to "the exchange i'm tyler mathisen in for kelly evans on this wednesday before christmas. here's what's ahead. what's the deal with stimulus in the president calling on congress to change the bill. the hard fought bill, but markets seemingly unfazed by another chapter in the d.c. drama. the latest drama for you there, plus the winners on this stimulus bill such that they can be counted including one stock up more than 200% this year. the name and what could catapult it even higher and a push to unionize amazon workers, a warehouse gold rush and high scores for gaming stocks in

2020 that is all ahead in our rapid fire segment, but we begin with the markets and dom chu with the numbers, green numbers today >> high scores for a lot of parts of the markets, not just the gaming stocks. a 250-point gains nearly for the dow jones industrial average, almost 1% at this point here 3708 the level for the s&p 500 that represents a half a percent. still though a very, very decent gain on today and the nasdaq composite lagging, only up about .2 of 1% where we are going to take a lock is the extreme outperformance as of late for the small-cap stocks this is the ruller 2000 ticker iwm. it's recently in the last few weeks overtaken the s&p 500. remember, it was a real laggard at one point throughout the course of the year, and by the way, just since the end of september roughly around here, the returns for the small-cap stocks, three times what they were for the s&p 500, up 10% for those s&p 500 stocks and the index up about 33% for the russell 2000 and then the best

performing sector by a decent amount so far the month of december has been energy yes, it's been beaten down very badly r.by far and await worst performing sector on a year-to-date basis still though crude oil prices up 2.5% near the highs of the session. energy stocks as a result at the highs of the day right now, and by the way, halliburton and diamondback energy, yes, they got beaten up badly, but these are the two of the best performing energy stocks in the s&p 500 sector, tyler. we'll keep an eye and see if that momentum continues if covid gets under control next year and the economy really starts to open up. back over to you. >> dom, thank you very much and see you later this hour. stocks near the highs of the session shaking is off worries about the covid relief bill and stocks have shaken off most of the bad news this year with the s&p up is a% in 2020 and with the market at historic highs are stocks overvalued and let's talk

about it with jason brady, president and ceo of thornburg management investment and hugh johnson with hugh johnson advisers welcome to both of you hugh, good to sigh again you say that the s&p is modestly overvalued by about 8.5%, but you are also simultaneously a little worried that it may be lapsing into that sort of level of exuberance where things get troublesome. why do you say that? >> yeah, tyler, good point, yeah i think we've moved from what we might call very rational stage of investment into something a little less than rational. now i wouldn't say that we were seeing that level of optimism objectively measured is getting a little higher, double what it was a month ago and you don't like to see that i would not say though it, and i would caution everybody though, i would not say that this is sort of moved into a state of exuberance i don't think it's moved even further than that into euphoria which really bottom line says

yes, we're overvalue and that's not good news, but i don't think that this is sort of a mania as of yet it could get there, are but i don't think we're there yet. we're just simply overvalued, and that's going to be sort of a headwind that we're going to face for the remainder of december, and i think the first part of the first quarter. >> yeah, you cite as signs of potential exuberance such things as the performance of bitcoins and spacs and this is the year of the spac, jason, but let's talk a little bit about the idea, you know, if the market is in fact overvalued by a little bit or a lot, however you want to see it, what has to happen in 2021 is that earnings have to -- that to grow into those valuations do you expect they will? >> look, i think we're in the midst of a transformation to a cyclical recovery, and the market has discount asked a lot based on what the federal reserve has done so as we look at it, you know, the fed has been santa claus to growth stocks and festive for

value investors. they have a lot of problems with the people at the fed so as we see that cyclical recovery, you should see earnings grow into the value names. i'm not sure earnings can grow into the growth names, so i think that rotation is significant. >> all right let's talk about one area that you really like, and i want to drill down on it and get some names there, jason, and that is banks. why do you see 2021 as a good year for banks, both good and mid-sized? >> well, first of all, those are quint intelligence value names, you talked about energy stocks outperforming. as we look at the markets bank stocks from a sector perspective are right there, right at the same time, when we're seeing releases, reserve releases on the horizon for banks, because they reserve so much for the covid pandemic and now those come out, plus the recent news from the fed saying, hey, look, not only can you release the reserves and earnings we pay them out in dividends because your balance sheet is so good, this is really a great catalyst in the context of some that have rotation, and it's just a really good way for investors to balance the rest of

their portfolio which probably for many folks has gotten very, very heavy into tech names and things that are very growthy >> you know, i think, you know, you -- jason, you and hugh might agree that sort of cyclicals look like a play you see, houck, that you like consumer discretionary and industrials and some technology and some materials, but where you two disagree, it seems, hugh, is on international shares you do not favor them except for emerging markets jason, you do favor them let's get that one going hugh, you first. >> yeah, favor is a very strong word i don't favor them i underweight international. the primary thing i look at quite frankly is -- is the relative performance it's been a long time now that relative performance of both emerging and developed has been very poor. in other words, they have underperformed the s&p 500 and quite frankly as a part of my discipline i don't like to buy things that are underperforming

the s&p 500 when my goal or objective is to outperform the s&p 500, plus fact when i start to do theums in, i don't think that prospects quite frankly when i look at developing or emerging, although owe merging is starting to get better when you see china starting to post some numbers, the truth is the that the numbers are getting a little bit better. it's starting to get a little bit closer of a competition, but i've got to see much better relative performance, and of the two emerging is outperforming developed and so that's where i would put -- if you're going to put something in international, i would make sure that you underweight international but you overweight emerging versus developed. >> let's let jason get in here you say the shift from u.s. is 2020s market leader to international names is in huge tilt how do you respond to the case that hugh just made? >> sure. so obviously emerging markets are part of that so i agree with that piece and frankly china is a growing portion of the

emerging markets, something that we pay a lot of attention to the a thornburg but i think my view on developed internationalists is keeping with what i talked about with the rotations the u.s. is much heavier weight into i.t outside the u.s. much less so. you've also seen a little bit of a loss of american exceptionalism around rates, so with the fed keeping rates very, very low and real rates very, very low, well, you see the decline in the dollar, and we expect that to continue to be a pressure on the market and frankly for a u.s.-based investor looking internationally for some diversified returns is a good idea here. >> all right gentlemen, thank you very much have a great holiday season. we'll see you next year. hugh johnson and jason brady. and if you're still looking for stock-buying opportunities head to cnbc pro tom lee has a list of stocks he'll see massive relief and lead the markets in 2021 go to cnbc.com/pro to see the

names. the u.s. government and pfizer have reached a deal to provide more vaccine doses as the rollout continues. meg tirrell joins us now with the very latest. hi, meg. >> hi, tyler this deal is for 100 million more deals of the binot yok/pfizer vaccine, a additional 30 million by june and another 30 million by july they are paying the same for the 100 million which was the same they paid for 100 million, some of which are getting rolled out right now which adds a lot more to the supply for the u.s. for the two vaccines, of course, that have shown 90% efficacy from phase three trials. moderna we've security 200 million as well also to be developed over the first and second quarter of well, some of which are also on their way out this work so between those two enough for 200 million americans because these require two doses and an expectation that we should be seeing data from

johnson & johnson and at csonka in hopes that those will work and add to the supply. in terms of when people can get access to these, operation warp speed has put out pretty aggressive targets saying there should be enough doses distributed for 20 million people by the end of of this month and additional 30 million by the end of january and an additional 50 million by the end of february. that would be -- however whether the country can actually vaccinate that period of time is still an opening question. we're hearing already that going out into december are going to take follow the first week of january to get administered and there's an update from operation warp speed. >> as i sutout there, a, the pfizer news was good because we were speaking with dr. rasmussen of georgetown who was concerned that we weren't going to come close to inoculating 300 million people we're getting at least a little

closer, but availability of doses is a very different thing than the ability to administer those doses, right >> reporter: absolutely. this is a huge campaign that we are doing right now, and already we're starting to see timelines slip people think that that idea that we can get 100 million people having their first shots by the end of february is very optimistic, and we'll just have to see how the cadence is set over the next few weeks. >> turns out, meg, there were more doses with pfizer per vile than they originally thought and now we're hearing the same may be with moderna. that's good news, i guess. >> is it yeah. the governor said in his updates that the moderna viles, some common tand 10% more than the recommended does some 20% more. the fda has weighed in on the pfizer situation and said if

there is enough for an entire full dose absolutely use it. don't mix doses from different viles and presumably would say the same thing for moerpda's. >> thanks for being on top of this as you have for a very full year of 2020 let's go to robert frank now with a news alert. hi, robert. >> remember, the case that we've been talking about, bill gross versus his neighborhood in california a judge just ruled in this case that it was an embearsing case for gross and today a humiliating defeat on all fronts the judge granting a civil harassment restraining order against bill gross by his neighbor gross have not allowed for him to come near the neighbor, not allowed to play mike or disturb the peace. the judge coming down high on gross because gross' neighbor complained about gross' scum

secure, gross played loud music on a lop in the lateat night disturbing the peace for neighbors. the judge ruling for the neighbor in this case. there's not a big fangs penalty here it's unclear whether that will be granted he's been kwaeted as a short billionaire playing the gillian nimp land crew and this is something that he tried to cut short with a charitable donation to cut this off and that did not work so now there's a restraining order and see if there's a financial penalty as well tyler, throughout the couple of weeks the testimony has not

painted the former billionaire bond king in the greatest light, and now he's losing with the court. >> but it's such a good song, robert. >> that's what bill said. >> it's a keach tune and i love to play it other and over and over until mid negotiate i bet he does his yoga to it have a great holiday. the president wants the congress to redo the stimulus bill, 5,000 pages of bill, but will that order actually do anything we'll have the latest. sole a.r.-stocks have been on fire this year. the solar etf tan tripling this year and the stimulus bill can keep that real going we'll tell you why next. "the exchange" continues in two minutes. ♪ ♪

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welcome back in an 11th hour move president trump calling on congress to change the stimulus bill, demanding more money for americans, so what now kayla tausche joins us live with the very latest. this the was a plot twist that not many people expected kayla. >> that's an understatement to say the least, tyler members of congress were already back home in their districts for the holidays when president trump's call came last night to

reopen negotiations on coronavirus relief which had finally produced a deal after a month's long standoff. house democrats jumped at the chance immediately to increase those direct payments to americans to $2,000 apiece saying they put forward legislation on thursday morning to do just that, but speaker nancy pelosi in a letter to colleagues noted that house rules require republicans to support that effort in order to move forward, and she issued this further challenge writing, quote, if the president truly wants to join us in $2,000 payments he should call upon leader mccart toe agree to our unanimous consent request. mccarthy has a tough choice here, stand with his members which clearly would not want to go forward with these payments or with trump. his offense hasn't comment on which direction they will go n.senate republicans are of the mind that thechanges wouldn't even make it past the house because they would need unanimous support, but if by some miracle they did the $500

billion price tags of the checks alone would probably deem that dead on arrival in the senate. senate aides also note that the final deal including the spending that the president criticized and the size of the checks reflect the administration's own offer and their reaction on the hill according to one aide is of irritation and befuddlement. tyler? >> two quick questions here, kayla. does the original bill have sufficient votes behind it to override a presidential veto >> it does, and notably the president in his taped message last night did not say explicitly that he would veto the bill he merely said if you don't make these changes, then perhaps a new administration or another administration would have to get this effort across the finish line suggesting it maem block it but not significant that he would. that poses another challenge if the president vetoes it and

doesn't support it, would they then want to continue to throw their support something that they don't have support of the executive branch it puts them in a difficult position and the two senators from georgia in difficult position because they want to get the money into the voters' pockets by the time there's runoff on january 5th. >> and this current congress goes out on father 1 second question, why would the president wait until this moment it's not like the checks -- the 600 checks were a surprise who is he trying to stick it to here >> there are a few different theories about why he chose to interject himself now when throughout the course of these negotiations he was absent for much of these discussions, tyler, and perhaps if he had been pushing this effort and pushing the $2,000 checks back in july or august, that might have drummed up more support among the electorate ahead of

the presidential election and had a -- why he's doing this in the final weeks of the office, maps we wanted to push aside the controversial names on the list. he wants to perhaps be remembered with a president that put money in the pockets of american people and he's unhappy with mitch mcconnell as well and this is another way to show the unhappiness as well. >> kayla, thank you. renewable energy stocks could get a boost by congress if it goes into law baron's writing the tax credit extensions in the bill could be worth tens of billions of dollars to the solar and wind dollars. the solar etf tan is up 50% this

year, more than tripling its price and on pace for its best year ever. join us now is the senior write barron's that wrote the bill what is it that opens up this -- makes this sector more ripe for investment. >> so, thanks, tieier. the change that happens in the bill is the tax credits were supposed to fall from 26% to 25% and then be fazed out after that this is what makes solar so cost competitive with other products like natural gas and when the prices start to come off the concern is solar will be less competitive. by extending the credits for another two years at least congress is going to give this energy source a huge boost, probably make it much more cost competitive over the next tires

years and continue this rally, like you said, has made the stocks trickle just this year. >> is this part of the covid relief pill or does it make a difference. >> it isport of the code of relief bill. other countries like italy have made solar and wind energy part of their covid relief bill and will also help home own others install solar if they haven't been able to afford it in the past. >> you referred in your article solar installers, the people who do it, the equipment-makers, even nuclear mother component makers and other companies take us through some of the names there that might be beneficiaries. >> sure. one of the biggest ben rischries is a california company called sun run.

they develop and install solar panels on people's roofs sun power does the same sort of thing. equipment-makers like solean edge and first solar which manufacturers parnells in the united states and elsewhere, so those are companies that should do really well off of this, you know, get large tax credits and be able to -- to get money down to their bottom line as well as nuclear power, you know, a mother source that sometimes get short shrift in the renewables debate at company like bwx technology, that makes components for nuclear power plants, they are going to get a grant through the energy department, it looks like, or they are also going to give some money to began electric which puts money into nuclear and makes money off of wind power these days. >> appreciate your time today. of course, you want to play the etf tan is the ticker symbol there. r.thank you. coming cup, $1 bill crop,

that's how many hotel rooms will go unsold by christmas as covid continues to batter that industry we look at hardest hit markets and what it will take to recover in 2021. and while the tech giants will face challenges around the digital ads, next arye there's other areas that could be quite lucrative, and we'll tell you what they are next it's been a tough year. and now with q4 wrapping up, the north pole has to be feeling the heat. it's okay santa, let's workflow it. workflow it...? with the now platform, we can catch problems before customers even know they're problems. wait... a hose? what kid wants a hose?! fireman? says "hose" it says "horse"! not a "hose"! cedric! get over here!

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welcome back take a look at the markets right

now. they are all in the green. the high for the dow of the day was up 269 so you can see that it's very, very close to that right now. the s&p up 22 or about.06%, and the nasdaq is higher as well as you see there. 2021 is going to bring new restrictions around digital ads, but there is a valuable untapped opportunity still lurking around the web and julia boorstin has the story. hi, julia. >> well, tyler, facebook has warned about headwinds to digital ad powering coming from apple's operating system which will make it easy for users to anti-out based on their activities on their phone. another big change is that google is joining firefox that phase out third-party cookies that is will follow you around the web by about the end of next year and we're expecting more privacy regulations. the ftc directed nine companies including facebook, youtube and

twitter and snap to provide information about their data-gathering, am grimts and their advertising and the eu proposed new tech regulation, including letting users see and modify google's parameters it's believed google and facebook's market share is peaking and could decline after next year, but on the flip side the ad giants have a massive new opportunity in shopping. e-marketer forecasts that worldwide retail e-commerce will reach 6.3 trillion by 2024 that's up 3.9 trillion this year saying as e-commerce is facebook's largest ad portico it's likely to leave the ad industry there >> thanks, julia boorstin and now to sue herera for a cnbc news update. >> hi, everybody here's what's happening at this hour the united nations human rights office says it's, quote, deeply concerned about president trump's pardon of four former blackwater contractors they were convicted in a 2007

massacre in baghdad that left more than a dozen iraqi civilians dead a u.n. spokesperson says the pardons will embolden others to commit similar acts in the future. in california los angeles police are still searching for the gunman who fatally shot a woman at a kohl's department store. police say they believe the man knew his victim. and in pennsylvania helmet-cam footage of a firefighter rescuing a dog from a burning barn ryan ballmer had to go into that burning building when the dog wouldn't come out but with a little help the dog jumped out a window and ran straight to his owner so a happy ending there. there he goes. look at that guy. >> wow >> pretty dramatic. >> boy, that barn was burning fast. >> sure was. >> sue, thank you very much. good story for the holidays. and here's what's ahead "the exchange." some u.s. amazon workers are close to unionizing and how private equity is cashing in on

e-commerce and video games leveled up this year all that and more in today's edition of "rapid fire." . why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪

all right. let's catch you up on a few

stories that should be on your radar. it's time for "rapid fire" and here with their takes are domini chu and leslie picker and jon fortt. let's start with amazon. amazon warehouse workers just got one step closer to unionizing at group of workers in alabama agreed to crucial details on how many and which types of employees could vote to join a union. no official word on when a formal vote might happen probably next year john fortt has been pretty staunch in opposing unionization whole foods, one of their subsidiaries also the same they haven't -- they have fought back against union what's changed and why is this battle taking place in bessemer, alabama? >> well, i don't know exactly why it's taking place in alabama, tyler, but this is important because of the trend, the movement that we've seen throu throughout 2020 of big companies, particularly tech companies getting stronger and more relied upon and arguably

frontline workers being more at risk and really suffering in this kind of pandemic-fueled recession. amazon's workers, the same ones who are allowing this e-commerce process to work are the very same frontline workers who have been disadvantaged during this time, so it's important from a labor stand point and from a culture of business standpoint there. also interesting because amazon is pushing for this union vote to happen in person instead of by mail-in ballot. think about that like part of the whole reason why amazon is so popular this year is because people want to do things distanced and by mail. the union wants that same thing for this vote, and amazon does not. >> great irony there >> dom, the stock has been sort of basically flat since the late summer what would unionization mean if it becomes -- if it sticks not just in alabama but elsewhere? >> if you look at at assumptions for what drives valuations, no that the amon is the typical kind of valuation case for academia or anywhere else but it comes down to corporate profits

and revenues, but the financial behind it. if you start to value a company differently, it will be oftentimes because the profile has changed for the company. whether unionization does add to more costs, some would argue it adds to more efficiencies in the workplace and everything else while it does then boost the wages of those people actually working there. that might start to change some of the investor appetite for some of these types of stocks. that's not to say amazon goes away it just says, you know what, if wage costs are going to be this and this over time this could be the way we value the company over that time span as well and by the way if you look at the amazon kind of profile right now there's been a case they have been working to workers right now that there's benefits and drawbacks to being part of the union, something that i'm sure will play out in a huge debate when that kind of vote takes place next year. >> this is certainly the specific case of whole foods when they made the case very strongly when there were advantages and disadvantages i take the over and under that amon is not going away because i

don't think it's going away anytime soon. the e-commerce boom has demand for storage facilities going through the roof, and those stocks are heading higher. public storage, cube, smart life storage all up 10% or more in the last ten years and those gains have caught the eyes of private equity firms leslie, you've been following this for us, not just storage facilities but also distribution facilities, and who are the big players in pe who are moving in here >> every aspect of the supply chain and private equity has had its eye on this space for a while and especially so this year the stat that really caught my eye, tyler, is this idea that for every $1 billion in incremental e-commerce sales or revenue, they need an additional 1.25 million square feet of warehouse space to support that additional e-commerce sales growth, so for that, the biggest, biggest player in the private equity world that's been locking at this has been

blackstone they have about $90 billion in assets under management in these types of facilities. 90 bill crop, and the big benefit for private equity firms that have gotten into this space in a big way is that as you see demand rising and especially for those types of warehouses in areas close to urban areas where people are wanting their deliveries quicker, it's important to be nearer to the source of that purchasing power. those warehouses have gone up tremendously in valuations, and it's also allowing the owners of these warehouses to charge more in rent, so it's been a big return on investment this year for a lot of these firms the question though, tyler, is whether that continues in the future if the e-commerce growth that we've seen is sticky enough to allow them to continue capitalizing on these investments. >> yeah. these are -- these are -- in many cases, correct me if i'm wrong here, leslie, these companies whether it's

blackstone or kkr are actually buying warehouses had or storage facilities from existing companies. they are not building them. >> that's right. >> they are not absorbing whole companies. they are buying from iron mountain or whomever. >> that's right. they are buying from other companies, typically that's the norm of that investment there, and then they will have an operator actually manage the facility and that's oftentimes even leased out to another company. >> yeah. >> so there is kind of a change of command there but certainly private equity has been viewing this as an attractive investment over the last few years. >> all right what the would a rapid fire be, folks, without a story about apple reportedly disc thousands of video game apps from its platform in china under pressure from beijing accord to "the wall street journal" apple warning that the chinese game developers -- warning chinese game developers this month that a host of tightles were at risk of removal from the app store there the purge comes as china is stepping up its efforts to

police internet content like censoring certain apps like trip advisers without any explanation why. this is kind of in your purview. gaming, what are they going after here >> well, you know what this reminds me of, tyler, the united states r.think about what almost seemed to be happening with tiktok and huawei. you had the u.s. government simply saying simply because a company is chinese, without any specific technology or data-related reason, we want to ban you from doing business here courts says that you can't do that the think they want you to have that, but this idea of being able to issue blanket bans

without a very ves figure reason behind them. there are some in the u.s. who want to do it but if you're problematic if you're trying to build a business. >> is there a dins between why the united states says they want to ban tiktok? >> nope. >> it's not the context, it's privacy, right >> nope. tyler, that was the kind of red terring that was thrown out there but in it's really about privacy and protecting data. if they have done that maybe we wouldn't have the same solar wind, all the things they are now accusing china of doing. don't create boogieman, sure out of dangerous global rivals who have really concerning policies, but just saying china bad is not

a technology policy. it does not protect data. >> dom, anythoughts other? >> here's what i would say, if you're a company doing business in china, this is something that the government can do but a they had a command an well economy. in this situation a company like apple would say this is bound to happen eventually but the question is whether will they continue to throw resources without having any kind of a resource down the line. >> let's stick with the gaming sector finally it was a good year for the game developers. big players all soaring in 2020. ea up about 31% and activision and blizzard 22% and take two up 5% and activision's president appeared on cnbc earlier today and spoke of how the gaming

industry helped to take off around the globe. >> we went for a model, as you said, where we used to ship am game every 12 or 24 months depending on the franchise to an always-on engagement, and i think that's what's really changed in consumer behavior and habits players want to be always on and have the game available wherever they may be. ness. >> i would say always on, jon fortt, describes my house and my son and his friends. i mean, it's been an incredible growth area, now bigger than the sports business and theater business xwund i'm telling you in terms of playing games and he's a sports freak. >> yes. >> now -- -- take a look at what

they are doing with fort night this is entertainment at a whole differentplatform and stale when you -- therapy putting out new features and experiences on a regular almost monthly basis rather than just once a year this is a regular play on the scale of what apple, amazon and google are trying to do, and that's the ambitioning level of some of the gaming players. >> has the gaming boom come into your house yet. >> it has not not. >> you have that to look forward to right now my shon is only is so luckily for us and for our bank you a counts he's not quite getten, one thing i'm looking forward to to see how the market is to the rod blocks it's sort of a different type of platform that will can use the

platt krm toe create and there's increasing demand and innovation and a lot forward to look ford to. >> dom, you're still at all little binge i have two gaming consoles, being two xboxers. i am a former gamer because i don't play now with two dogs and with great power comes great responsibility just ask the creators and publishers of cyber punk 20(2) it a very embarrassing debut for that game, highly anticipated attention being paid. >> somehow that shows you how uncool number. have a great holiday

appreciate it. shares of disney higher with rosenblatt upping their service on the streaming business. disney has climbed over 40% over the past three months and we'll take a look at the other streamers in 2020 and what's next in 2021 a quick check on the markets with the nasdaq just hitting a record high. we're back in two. some things are good to know. like where to find the cheapest gas in town and which supermarket gives you the most bang for your buck. something else that's good to know? if you have medicare and medicaid you may be able to get more healthcare benefits through a humana medicare advantage plan. call the number on your screen now and speak to a licensed humana sales agent to see if you qualify. learn about plans that could give you more healthcare benefits than you have today. depending on the plan you choose, you could have your doctor, hospital and prescription drug coverage in one convenient plan. from

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dental care, eye exams and glasses, hearing aids and more. a licensed humana sales agent will walk you through your options, answer any questions you have and, if you're eligible, help you enroll over the phone. call today and we'll also send this free guide. humana, a more human way to healthcare. welcome back, everybody. subscriber growth accelerated for streaming services in 2020 as countries around the world were under lockdown. netflix still the most popular, but disney plus was really the success story of 2020, reaching 86 million subscribers so far. let's see how the stocks have fared this year. netflix, the biggest gainer up 60% and disney bounced back for a 20% gain comcast, which is also cnbc's parent company, up 11%

their peacock offering began, and hbo max parent company down 26%. that parent is at&t. will the momentum for the streamers continue in 2021, and can at&t turn it around? joining us now is andrew wallensteen, is president and chief media analyst as variety intelligence platform, the publisher of the variety 500, index of the media's heavy hitters. i do not appear on it, andrew. i'm annoyed. >> i'm sorry we're 501. >> i was thinking with 500 media heavy hitters, maybe it would have been easy to pick the ones who didn't make the list, because that's a lot of hitters, man. >> it is. >> let's talk about the streamers and the beneficiaries here disney is most interesting to me because they -- what, they debuted about a year ago, a little more than 86 million, and this is a company that has seen really one of the hearts of its business destroyed this year, the parks

and hotels, and yet the stock is up 20% >> it just tells you what the market values which is the future of disney as they go all in on disney plus. i mean, it's remarkable how this service has kept its light wherr piece of the disney business is struggled. tv, film, theme parks. and i think what you're going to see, it's going to set up an interesting rivalry in the long term with netflix. it was unthinkable in the long term that disney would be able to match, say, the global subscriber footprint of netflix and now the unthinkable is actually realistic. >> netflix is still motoring along there. 60% subscriber growth -- i'm sorry, subscribers, 195 million. the stock is up 60%. this company does not ever cease to amaze me, the ability to grow, and the pandemic clearly

has been a great stay-at-home play for them. >> it certainly has. i mean, what happened in the first half of the year, drove an obscene uptick for netflix they had a great year by any stretch of the imagination i do think going into 2021, however, that's going to make for some tough compares. no way you'll see subscriber growth in 2021 like they had in '20, but make no mistake, they'll be a very tough competitor for a very long time. >> let's look at warner and hbo max and at&t, that company saying they're going to release their movies next year to their streaming service on the same day they will release to theaters this seems like good news for hbo max, potentially, but very bad news for the theaters. >> yeah. i cannot tell you the shock waves that have been emanating from that announcement in

hollywood for weeks now. the exhibition business is going to be seriously destabilized because so many people are going to be fine watching this on hbo max. profit participants in hollywood are also very angry about this what money will they have lost because this isn't coming out in theaters however, i do think this arrangement will be very good for hbo max. i think they'll see a big subscriber boost in 2021 a lot of people will want to see big movies like matrix 4, dune, without ever leaving their house. >> if someone from the theater business were sitting here, they would probably fight back and say, there are people who are going to want to get out of their houses and go to a theater, presuming they can do so and feel safe at the same time it's too early really for me i should be careful when they say it's going to hurt the theaters it probably will, but in the long run, there's a question there. andrew, thank you. appreciate it. >> any time.

still ahead, the pandemic putting the brakes on travel big time in 2020 a look at how badly the hotel industry got crushed and what it needs to recover now, get iphone 12 on the 5g america's been waiting for. this new iphone plus verizon 5g is incredible. switch and get iphone 12 on us. unlimited plans start at just $35. this is 5g from america's most reliable network.

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. welcome back, everybody. hotel stocks having a decent past two months with marriott climbing more than 25% as covid vaccines bolster new hopes seema joins us with how hard the industry has been hit. >> 2020 already devastating for hotels ending the year on a low note hotels won't get to enjoy that holiday bump they typically see at the end of the year more than 980 million hotel nights have gone unsold. that's 40% more than all of last year hotel development once red hot in cities like manhattan, dried up during the pandemic many properties have had to shut their doors. get this, in cities like chicago and houston, more than half of the hotels financed through the commercial 340er7b8g-backed securities market are currently delinquent and owners of hotels in these markets are highly dependent not just on the leisure traveler but

the corporate traveler >> hotels that are struggling are the hotels that are near airports, near corporate markets where you have a lot of corporate people that come in and out. just looking at some of the buildings you see around the hotels, they're pretty much empty. >> he owns nine hotels on the east coast with fewer guests now and limited house keeping, he's down to about 120 employees >> seema, thank you very much. that does it for "the exchange." up next, "power lunch" with the stock up 130% this year, the ceo of microstrategy will join us to discuss his twitter exchange with elon musk with transferring tesla's balance sheet from dollars to bitcoin i'll join rahel solomon after this quick break your daily dashboard from fidelity -- a visual snapshot of your investments, key portfolio events, all in one place. because when it's decision time, you need decision tech. only from fidelity.

you need decision tech. on the 5g america's been waiting for. now, get iphone 12 this new iphone plus verizon 5g is incredible. switch and get iphone 12 on us. unlimited plans start at just $35. this is 5g from america's most reliable network. - we did it!c) (crowd cheering) - [narrator] wherever you start, snhu is where you can finish. (crowd clapping) (crowd cheering) - here we go. - [narrator] and it's it. - [group] yay! - [narrator] you did it, high five! - southern new hampshire university. - [man] that gets a hug. (laughing) - look at that! master's degree, i did it! - i did this for my children. i am very proud of myself. - [narrator] finish your degree at snhu.edu.

welcome to "power lunch. along with rahel solomon, i'm tyler mathisen stocks are in rally mode the russell and nasdaq hitting record highs jumping on the last full day of trading before the holidays. there is a new fear. investors are putting on their radars ahead of the new year we will explain what it is plus, where's the relief th