going public pro corp. a crazy, crazy volatile market this week. and pulled off the docket last week others. that does it for us here with "squawk on the street. all major averages higher. nasdaq 100 up 1.5% effective on pace for gains this week "techcheck" will start right now. ♪ welcome to "techcheck" on this thursday morning. i'm carl quintanilla with jon fortt and deirdre bosa what an hour coming up the crypto comeback. the fierce fall and rise is it a bubble or blister? our next guest is calling it plus high-growth names bouncing back tesla two-thirds of what is was earlier in the year.

diving into musk bitcoin effect and ev comp ticks with morgan stanley the adam jonas, and a video game going public via spac worth more than $1 billion nice second act. he joins us later. de >> nasdaq back in the green trying to avoid a fourth straight day of losses and longest losing streak since 2012 dow laggard this morning is cisco. shares falling after weak guidance and watch coinbase. wedbush taking to outperform amp yesterday's drop saying the current level is an attractive entry point add crypto rebounds today. wheat get more into that in a moment, jon. >> absolutely. surging together earlier and headed in differen directions as crypto tanked. virgin galactic, snowflake, all surging up 20% or more in the past week as traders reconsider the recent sell-offs

not just those names asana, doordash, and twilio, and others up 10% or more. the point, wondering here whether the week's crypto drop, which culminated yesterday, could would also take down meme stocks and high-valuation techs. deidre, not necessarily. >> not a super clear cut crypto, earlier this year, much of the year, moving higher, but now we're seeing some of these names bounce back as we called it the double take trade perhaps, carl what it tells you is that this market isn't just risk-off, but you have to find pockets. more discerning this year. certain pockets are getting a bid, and that's what is different from last year when you saw risks sort of across the board moving higher from the high-growth names to crypto, to the meme stocks, and momentum names that are coming back down to earth we're seeing a different dynamic

emerge this year, carl. >> yeah. it's interesting divergence. maybe reassuring hard to tell one person's opinion we would like to hear, though, mike santoli who joins us to auk about that what do you make of this >> one way to reconcile what seems a divergence, krit crypto caught down to other parts of the markets that topped in february in some sense i agree that they all sort of feed off the vein of animal spirits similar ones attracted across the board. all the others rolled over hard. cloud etf down 30% 40,%. now back to levels seen mid, latest late year and crypto held up to recently and a big break really, once we did guess that one whoosh down in bitcoin yesterday, and attendant coins, maybe sbinterpreted as a stress

test positioned flushed out, maybe a cleaner setup at the moment. volatile as ever, but perhaps -- it didn't break anything adjacent to it, at least at this point. that's probably what's going on right now inners it of the market getting its footing final point would be that the market, stock market today, very much about selling recent winners, buying recent laggards, growth and mega cap tech i think an indecisive point about the macro. whether we've got out of banks and transportation stocks and people maybe rebalancing exposures now. because hedge funds are light in technology based on a bunch of measures coming in this week >> interesting your point about the intraconnectivity reminds me what cashin wrote in earlier it wasn't the drop in the crypto price that spooked equities. the fear the crypto markets were

coming apart your point of margin calls price versus price. >> yes. >> does that sound fair to you >> absolutely. always about whether in fact you have something disorderly happening more broadly in portfolios that require lots more selling to bring risk levels down and raise cash that's the thing that usually upsets folks it's not necessarily just the decline in price of one asset class. even if it's $2 trillion in total value, as i guess bitcoin or crypto might have been. still manageable if it doesn't spill across into other things. >> the spilling across we wonder about so much. mike, thank you. speaking of perhaps the biggest stock caught up in the crypto sell-off was tesla. but importantly, it's not recovering quite to the same degree as others down 20% year to date. how do you value a company not just with bitcoin on the balance sheet, but also that's caught up in the same sort of fervent

belief about the future as so much of crypto is? and bringing in adam jonas, happy thursday my question, i guess here, is about sentiment and belief there was a wariness around tesla and bitcoin, perhaps which had been tangled up today lately with elon's tweets what's tesla really moving based on now because the traditional fundamentals, hasn't been moving on those for a long time right? >> jon, remember the last time i was on with you i showed you a chart. don't make fun of my art skills but here's another one okay the story is bitcoin and tesla is really, it's correlation, jon. and -- there are speculative, rampant speculative elements to tesla's rating there's just no denying it yes, tesla is a change the world-type company that open-ended bull case in the

nondescribable largest ham in the world kind of thing in a post-covid, post-war environment in ways or rebuilding the world, it attracts the same rampant speculation you might see in a bitcoin. for me, that's what year seeing. for a long-term investor in tesla when i see elon musk tweet about the various crypto stuff, i mean, i think they must be cringing like, isn't this beneath you if you just spent the time to focus on the rockets and on the storage and things that matter to humanity, maybe you wouldn't be adding unnecessarily to the rampant speculative part of what's really an incredible and historic fundamental story >> hmm so, i mean, elon musk is a genius and maybe he can focus on a bunch of things at the same time tesla, spacex, bitcoin, dogecoin even if you're a mere mortal and want to focus on investments, how do

you do that in this space? where's a good entry point and how much do you worry tesla getting caught up in these other things as you can consider positive take a position >> yeah. i think -- to add to what you just said, jon you then throw in the gamification of stock trading. right? within a broader retail audience than ever, and you have better success on that than i do, and the democratization of venture capital through the whole spac phenomenon, right? and you have this kind of -- you catalyze this, the herd mentality and animal spirits, as you said on a previous program so i would listen to jc. your man jim cramer and what he's saying to create awareness around the speculative nature. message to investors, use your horizon to your advantage. are you really, do you really have a venture mentality because you need it to ride out volatility, and to place bets on

companies that in some sectors, nine out of ten, will never work now, we do believe that tesla's achieved escape velocity clearly overbought with the momentum and hype. the messages we have to our clients on tesla, bear cases and bull cases at the same time. bear cases we think are china, apple and overhyped autonomy but there are bull cases too you tell me where want to go from here. >> well, adam, broaden this out to the broader ev space. we've seen names there bouncing back quite strongly over the last week or so last week spoke to the ceo of lucid motors peter rollinsson wouldn't or maybe couldn't confirm delivery targets for next year, the production targets. he laid that out only a few months prior in terms of their spac presentation to investors is that something that should worry investors that are looking at, or have gotten into that spac

or do you chock it up to early innings what you expect from companies this early on? >> deirdre, without referring specifically to that spac, yes it should worry people. we think that you should set an incredibly high bar of selection for these companies. many of which, again, not referring to the speck company you mentioned but many of which in our opinion should not be publicly traded, but they are. then many of which are run by management teams that should not be be be running publicly traded companies, but they are. if you make it through those two quantity ga gauntlets and ready for primetime, you're in a business damn hard. electric cars are sexy but we'll be drowning in them one day. ip think as a rule, margin for error, take the powerpoint --

those investor decks and move them way out to the right. derisk the hell out of them. that would be a very prudent thing to do. you might still like it after you do that. but hack it, because a lot of these things, again, not referring to specifically that one, the presentations are a bull case. non-disprovable bull case, probably not a base. >> adam you mentioned some of your prior visits with us. in january came on and said i'm going to come out and say it what mary barr and gm are doing may end up being one of the most profound strategic turnaround the not only in the auto industry but in business my question for you today, is ford catching up >> yeah. definitely hats off to ford i mean, that lightning thing -- the home charging thing. that's -- you talk to people in texas, who didn't have power wishing there were coal plants down there

oh, my lord. that's pretty cool now, that will end up being starnt standardized, but, yes catching up? yes. behind still behind, yes, we think. we have questions around governance at ford still have questions around their access to battery supply over the next few years, although the mou with sx innovations is an important step in the right direction look, we don't want to write them off we're underweight. an $18 bull case i would say the things that ford would do, and could do, to get there, gm is in many ways further down the road. in some ways ford has some advances, too, but more of a track record of consistency, i'm a huge jim farley fan, speaking of him yesterday love the guy it's great that ford has real professional world-class management again. so careful betting against jim

farley, but still some more points of discovery. let's see what they say next week on their capital markets day on the 26th. keeping an open mind, jon, and carl. >> huh good for investors to have good options. adam jonas, always good to see you. >> take care. speaking of evs and musk, well, one of the world's richest men, will they choose a body high or a brain buzz today my words our next guest says that that is key to understanding crypto. we'll explain, plus nvidia to $700 a big hour of "techcheck" is only getting started.

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a gut check on nvidia. overweight $700 target. software creating predominant position bring in analysts behind the call great to have you. it's an exciting, interesting call given, though, there are some unanswered questions regarding

arm, for example why does it deserve a premium multiple >> hey, well, thanks for having me nvidia deserve as premium malt poor because it's the only semicompany that has this competitive mode semiconductor space, amd, intel, the share goes back and forth. nvidia has, in our view, impenetrable position in terms of machine learning, ai computing, because of this software development platform its developed. called cuda. 2.5 million developers developing software on top of computer chips no other company in software are close to that. >> a down side, regulatory scrutiny arm will likely get

talk about amd and intel potentially answering back with return service of their own. which of those issues would you most like to see settled early >> i would love to get the arm concerns kind of, kind of settled. obviously, i think there is probably a low probability that the arm acquisition gets regulatory approval. i think there's just too much opposition out there i think there's too many concerns about, antitrust concerns i would like this to get settled and innvidia to move on. if it's settled and a regulatory body comes back, says we're not going to get you approval and nvidia backs off that, i think that's probably one of the best thinking that could happen to this stock at this point. >> well, the call's definitely helping move shares today, and

it's worth reading, if viewers get the chance john gshs to see you john vinh. >> thank you let's get back to bitcoin. our next guest tweeting, owning crypto right now means leaving your wealth dependent only on whether the world's richest man chose a body high or a brain buzz on any given day. we bring him in now, may know him as pingourd on the internet. lay this out for your audience >> a giant scheme. a pyramid scheme way core of true believers and a core of people fascinated by technology. so it becomes difficult. it also has a group of very smart investors, and all kinds of people who are heavily pouring money into it. it becomes difficult to call it out but it's very knows call it out, because in the end, like every pyramid scheme, people will get hurt.

>> maybe necessary to call up certain aspects but a pyramid scheme is simplistic to even call the technology behind it, 25 years ago, critics said the internet would amount to nothing. narrative, decentralized can't trust it never any internet payment too many technical problems. sounds like a lot of what i'm hearing from you and others around the bear case for cryptos at this point in time. is it possible we're just in very, very early innings and this is a platform, not a pyramid scheme or even a store of value it's more than that. >> that's an excellent point we have history in tech of calling things stupid or pointless that end up being transformative but it's really important to remember that these are not the early days of crypto we've had bitcoin for 13 years now. and when you look at it by its own criteria, all thingspromise >> not in the same form. you can argue this is very

different. institutionalized, more companies -- go ahead. >> i can't buy a pizza with bitcoin or a car with bitcoin. all i can do is put money into it and watch it go up 20% and down 30% in the same day co coming on to these calls i had to take a look whether crypto is doubling today or halving. every time scale you see volatility and symptom what's a giant asset bubble basically money has nowhere left to go. we've had this pandemic here where the stock market's almost doubled. krit o cryptocurrency up and i don't know where bitcoin has gone. still you can get a big return coupled with hard-core true believers with a strong and ideological case why this is the wave of the future, but it's not. >> and is part of the issue here we don't know what's going to

happen to different cryptocurrencies when we get a real protracted downturn i could see the argument, a big difference between big coin, ethereum, dogecoin you're lumping them all in as one giant, i guess what elon musk would call "hustle. but maybe not. i guess it will take more stroes tstroes -- stress to test that? >> able just, without paying for example, for bitcoin, $15 transaction fee, as as much electricity as argentina four transactions effective something like 1,800 all of these things, just technically work for any practical use i would have a much easier time saying maybe one of these really will pull forward and convince me that i'm wrong and convince all other skeptics they're wrong

we're not seeing that right now. we're seeing it is a gambling token that many people believe can only go up for a variety of arguments, and has no connection to any sort of real-world implications, except the one thing it's revolutionized which is crime bitcoin has made it football have a whole industry around ransom ware. just saw that with the capital pipeline and money laundering easier the two genuine area crypto occurrence you had a transformative effect. nice to have a positive not nuft n jut net negatives before we move off the dollar or whatever we're holding now. >> interesting point makes me wonder whether yesterday's action, you had a 40% swing in 24 hours on the most broadly accepted name i wonder, do you think that was a death knell for another large vendor coming out saying we will accept bitcoin for our goods or

service, or our car or pizza or anything else? >> i think -- you're not going to see any vendors coming out to accept the money except if we need to refund it we'll do it in dollars or whatever the real currency a lot more institutional investors are dipping a toe into it because they don't want to miss out on the wild ride. so these -- these constant dips and highs, with us since the start of the cryptocurrency. just more people are paying attention because valuations are so high. the root problem is not in crypto itself. capitalism is constipated. there's nowhere for this to go a massive amount of invested money and nowhere to put it to it's chasing around. you see it also in stamp collecting, coin collecting. nfts, even gamestop stock now has kind of become disassociated

from the actual ticker or the company with physical stores and has become sort of a meme cryptocurrency-like thing. this is a general phenomenon and crypto because it's new and novel we pay a lot of attention to it. >> hmm >> you said that capitalism is constipated. some argue this is exactly what the technology behind cryptocurrencies are trying to sell we'll leave this debate and conversation for another time amend hope you'll join us again. thank you. >> thank you so much. well, shaky debuts for coin base,and perhaps of robinhood pause? we'll look into that in a minute meantime, watch ki crisco. stock sliding now at about bakre even more in a minute when "techcheck" returns. baby ♪ ♪ just to let me down ♪ ♪ (let me down) ♪ ♪ and mess me around ♪ ♪ and then worst of all ♪ ♪ (worst of all) ♪ ♪ you never call, baby ♪ ♪ when you... ♪ ♪ say you will... ♪

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new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. welcome back to "techcheck." i'm carl quintanilla with deirdre bosa, jon fortt and jbs.

julia boorstin who has an interesting space in a moment. and meantime, dow up almost 1.5% slk up 1.7 seven of ten worst performers are retail led lower by ralph lauren rahel solomon has a news update. >> carl, what's happening at this hour -- vegan milkmaker only the big ispo offering price that values the company at $10 billion oatley going public due to volatile market conditions stay tuned shares sinking 12% despite hosting big earnings and revenue. retailers up profit guidance the rest of the year shares of ralph lauren down 8% even though reporting a surprise profit revenue will grow less than expected this year morgan stanley shaking up a suite for four executives seen at top choices to eventually

leave the bank current ceo james gorman plans to keep the top job at least three more years and former executive carlos doane lost his bid to get millions from former employees nissan and meets bishy missed wages and severance payment was demanded the court ruled no value and must pay them $6 million remains an international fugitive in lebanon fleeting from japan after escaping house arrest another ghedevelopment in that story. carl, back to you. >> thank you, rahel. and turning to kate rooney for more. >> and a lot about democratizing the stock market moving on to the ipo market start of saying, just about 20 minutes ago, letting users buy shares of companies as they go public customers can put in requests for companies in the process of going public, shares

robinhood partners with investment banks here for allocation of shares not an underwriter in the deals. a partnership model. amount of shares varies depending on supply. this is kicking off today with a company making medical scrubs and other equipment, going public today roughly $3 billion valuation saying in explanation they are reserving 1% of shares for traders on robinhood's app guys, important to note. really a break from wall street tradition. ipo shares not easily accessible for retail frtrader a lot more focus on institution investors. and they're better customers in an ipo more likely to buy and hold versus retailers have a reputation coming in and flipping shares. so far the first fintech to roll

this out a future on their app now. that company acts an an underwriter. key thidifference there robinhood plans its own ipo expected early summer. no comment from robinhood on if its future will be available for the ipo. timing, got to think that would make sense for them to offer this for their own listing back to you. >> yeah. kate, thank you for bringing that to us we spoke to anthony, a similar move in allocation and long-term invent iives key here. speaking of robinhood, guys, a reality check on its ipo, kate mentioned, anticipated with coinbase and squarecase, sinking. and what about a feeliing en entering the public under these conditions seen return of momentum or high

growth a preki moment, though talking also about the volatility in public markets will that spill over into private markets? robinhood could be more indication like square was in the past, maybe yesterday. >> the two names mentioned, and crunch time outages, coin bbase took spotlight away from robinhood. maybe others forgot you that they are went down thinking about coinbase going down during the crypto tank this week. >> interesting to dig through those financials especially payment for order flow, carl, which has been such a flashpoint over the last few months. >> truly has, between the outages, the payment for order flow, obviously think back to the testimony on the hill, but it's going to open a lot of windows into the inside of the

model, de, when we get that information. >> yeah. we'll be watching. still up on the show, remember those rules, little gains the myspace co-founder well, now a billion dollar company and going public today by a spac. myspace co-founder and former ceo joins us on the other side of this break. stay with us.

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. gut check on cisco earnings beat top and bottom line shares were down now up fractionally. reason, profit guidance. cisco is seeing gross margin pressure driven by supply chain challenges remember that chip shortage joining a chorus of companies warning about semiconductors and other components stocks up double digits year to date, though deirdre? let's get to julia boorstin now who is with myspace co-founder and former ceo chris dewolfe on his latest venture. a spac julia? >> thank you, de that's right in addition to the myspace, chris dewolfe founder of mobile game developer jam city. chris, thanks for joining us today as your company agrees on

a spac deal valuing jam city at $1.2 billion. >> thanks for having me, julia. >> so, chris, tell us. what's next for jam city now that you will have over $150 million of cash on your balance sheet? what are you going to do with that >> it's really the next logical step for us as a company you know, short the company about ten years ago with the idea of creating one of the largest mobile entyrant enterta companies in the world growing in a huge way. 2022, growing, our growth is at 23%. ebitda is at 30% growth. so the market is getting bigger and bigger there's going to be 2.7 billion gamers this year. and we're consolidating the market we're going to be using the extra cash for m & a and to grow

our own organic games as well. >> now, it's worth noting your games rely on in-app purchases we have been closely following this epic versus apple lawsuit how could the outcome of that lawsuit impact your games? >> we don't know how it's going to impact our games or how that's going to go down. we have great relationships with apple and google clearly, if those percentages that are applied to the game developers, you know, get reduced from 30% down to something lower means potentially higher profit margins, but that's nothing that we're necessarily counting on, and we appreciate our great relationships with both platforms. >> so sounds like you have a very different approach to this situation than epic. also a gamemaker has sounds like you don't think apple has a monopoly

>> i don't think that they necessarily have a monopoly. that's not really for us to decide we work very closely with apple. they're pushing the envelope on technology we're pushing the envelope on technology we're trying to figure out how to do that together to create the best mobile entertainment that we can. >> and, chris, so interesting. because you have such great p perspective what's going on in the world because you co-founded myspace and now advertise for your games on facebook it's a new generation for your game downloads what's your perspective what's going on with the social science? a lot of people say too po powerful what do you think? >> yeah. i think it's a really tough situation to control i think we're also seeing a big change in user behavior in that social apps like games are becoming the new social engagement engines

so if you look at games like jam city games, where people are playing 40 minutes to 50 minutes per day, every day it's actually more time than they're spending on facebook, twitter, instagram or any of the other social channels. so people are using the jam city games to socialize, using it to relax, to destress so i think you're seeing folks venturing out a little bit past facebook and instagram and snapchat into other areas to socialize. >> and do you think that the growth you saw on the social epidemic of games benefiteds from the pandemic, people stuck at home and that this will decline once people get out in the world? >> we don't. general engagement numbers didn't move that much. the one thing that we did see was that in the second quarter

of 2020, right when the pandemic was starting, cpms were advertising prices actually decreased. that allowed us to bring more players into our games so from that perspective, for, you know, a three to four-month period of time we had higher traffic into our games then that normalized sometime in the third quarter, and we just continued to grow. we were growing before the pandemic we're growing after the pandemic you know as i mentioned before, part of this transaction, we're acquiring a corporation which is one of the largest mobile gaming companies in canada. definitely one of the most creative games in canada ludia. acquiring that for $175 million. really looking forward to that, more acquisitions. and releasing more great organic games from the slate that we

have. >> and a final question about another game company that just had a big ipo. roblox fueled by models allowing consumer to create games is that something you'd ever consider for your game business? >> yes very possibly. that's not our core business i think roblox is a great company. i've had a lot of experience with that. that's what myspace was all about, providing a platform for people that create music and videos and even to distribute their other than games. you know, one of the things that we've realized very early on and one. inspirations for jam city was that games are more social than any other medium, and the social mechanics are very well uses we pay a lot of attention to that in terms of creating a platform in the future, we have all the

tools to do so we have underlying technology that easily allows us to bring on new companies that we acquire. new games that are out there that we want to publish. it's very easy to plug and play. we could open that up to the public, but we don't have any plans to do that right now. >> thank you, chris, for joining us games are the new social network. from chris dewolfe, foundinger of myspace as well as jam city thanks for talking to us today. >> thanks for having me. and julia, our thanks to you. still to come this morning, why cathie wood says john deere is actually a tech company is she right 'rba ia exing up nt. wee ckn moment.

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that's why we offer some of the lowest tuition rates in the nation, and haven't raised tuition in nearly a decade. so no matter where you want to go, snhu can help you get there. visit snhu.edu today. cathie wood thins john deere is actually a tech company seema mody i understand the appeal but can deere back it up? >> investors surprised to see john deere and cathie wood technology and robotics etf. she may have a point deere is heavily investing in cutting-edge technology making farmers more efficient look at the x series combine equipped with active vision cameras and artificial intelligence to help farmer monitor condition of harvested

grain. and testing use of drone to petter help farmer identify weeds early on, spray crops from high above, versus on the ground, and the exact emerged planters one of the big challenges in planting is getting the location right. if you plant two seeds too close, they compete with one another. too deep, it doesn't grow. precision allows for higher efficiency these are a few of john deere's investments in technology but it is outspending its researchers and development. two time as year four times more than adco and more than a big competitor, and analysts are predicting all of these investments will result in major cost savings for deere the question is how much of this is already priced into the stock? it's had a really strong year. up 31% earnings out tomorrow and that will be a topic of discussion carl >> seema, thanks. keeping our eye on oatley. now out as we saw the pricing at

17 and currently around 21.50 or so nice pop, although the last two minutes of trading, guys, see where it goes after talking to the ceo earlier this morning on "squawk." >> yeah. and moving on now, carl. the end of an era. microsoft is passing off, last day, june 15th of next year. and early days, accused of killing rival grounds of managers in a turf war and now up less than 2% of the global market according to analysts part of the problem, ie wasn't very mobile. overtaken by challengers survived by the edge browser microsoft is now placing eff efforts.

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google gearing up for a brick-and-mortar retail space, the company announcing the first-ever store front where it will sell hardware devices it will be located in new york's chelsea neighborhood in the same building as google's office. big tech has long focused on commerce and physical stores, of course there's apple and its vast retail footprint, which i think

celebrated an anniversary this week not although are as successful last june microsoft permanently closed its store fronts. jon, this triggered some people wonder, you know, google, is hardware their thing? certainly, are physical stores their thing >> yeah, google has a lot of hardware it creates itself and in its ecosystem you think about the pixel phones, pixel books, chrome books in the ecosystem, you have the nest therm stats and cameras. i could go on and on chrome cast, et cetera, et cetera i think what is interesting here, there's the new york return story the idea that probably it was easier for google to find well-priced retail space where it is already. and then the idea we've been talking about omni channel, the blending together of online buy, pick-up in store we saw it out of home depot's quarter recently, deidre this is a space they can experiment, much as we see amazon experimenting with hair,

blow-outs at a place in london that's key to the next evolution of ecommerce >> yeah, you know, the hair salon is new, but amazon for a long time has been experimenting with brick and mortar, that huge acquisition of whole foods but really, all of its steps have sort of brought people in for returns, has been an idea even with whole foods when you have the storage lockers i think the jury is still out there, guys. i mean amazon has made this big push, jon, but when you look at the financial results, the physical stores segment has really struggled to grow, even pre-pandemic so are they getting it right it is not clear yet, but i would argue that they're struggling a little bit to figure out what that is. they also have the partnership with kohl's for returns. we don't have a lot of data there >> well, there's the store and the retail store as an experiment and an experience in and of itself, but then there's the retail store as sort of like a technology landscape they're using that in aws, the cloud business, ai through the

cameras, selling that as a platform to retailers as well. so some of this isn't just about making a store that works for the store's sake, it is about creating a retail experience and space column we saw some of that out of google and google io this week as well, you know, bill ready, you know, the interview deidre brought to us was talking about the blending of the physical and digital and how they're learning do that and try to bring it forth as a platform. this is, i think, part of that not just google but am azon, apple with its retail stores, all are trying to do >> it would be interesting if big tech managed to give a small helping hand to commercial real estate throughout the country. guys, new revelations out of the apple's epic game trial, including apple's unacceptable malware problem. we mentioned it earlier, but virgin galactic one of the big movers to the upside after

announcing dates of the next flight we're at session highs here. the nasdaq is up 233 the dow is up 300. the s&p is almost green for the week keeping your oysters business growing has you swamped. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at indeed.com/promo

weird case of apple talking up its own malware problems, but there's a reason for that. the apple epic trial continues today, and the latest development is software chief saying he is unhappy with the amount of bad software on their operating system for the mac computers. users have much more freedom to download software from the internet in their desktops and laptops than on apple's iphone ios operating system through the app store. that's his point this matters because as epic games and apple face off in the trial, epic wants to force apple to allow users to use alternate app stores apple arguing allowing outside downloads puts security at risk. the trial is scheduled to end sometime next week perhaps most interesting, tim cook taking the stand tomorrow, carl that will be one to watch. >> yeah. we are definitely on the lookout for more information from any witnesses or people who are making testimony, and cook is

the one most people want to hear from the most. by the way, we should point out continues to trade higher, up about 30% i think from the opening trade -- or the ipo price. backed by oprah, of course we will keep our eye on the markets which at this point going green for the week for the s&p could be considered a victory. let's get to "the half" ♪ ♪ all right, carl. thanks welcome to "the halftime report." i'm scott wapner front and center this hour, the continued tech sell-off, not today though but why one major market watcher says it is about to get worse. you are going to hear from him we will debate the call as stocks remain volatile joining me for the hour. kari firestone, ceo of asset manage mr. nt cou courtney brown josh brown the dow is good for 266. s&p up 1%. the nasdaq is up about 1 3/4 i guess the big question is can you believe anything on the screen today does theen