counter to what we're seeing in the broader indexes today, what's been going po with retail relative to expectations >> that is going to do it for us on "squawk on the street." take tuned because "tech check" startsnow. >> good thursday morning and welcome to "tech check." today, nvidia and snowflake forecast something monster years ahead. so why are the stocks down this morning? we will explain. plus, names like twitter and tesla having their best week in more than a month. we'll break down what is behind that surge and finally, andy jassy's vision from amazon. some clues from jeff bezos on

what could be in-store for the incoming ceo, next >> so far, it's been a mixed day for stocks so the dow is up we did get our best intraday level since may 10th paying in tech, though, names like twitter and tesla are having their best week since early april. and bitcoin is getting a bounce, as well, trying to close in on 40,000 but, john, it is about the earnings that we got last night. >> nvidia and snowflake, both names showing big growth, but they already had healthy multiples. meanwhile snowflake saw sales more than double alongside losses that rose, as well. they are projecting that their growth rate will slow. both stocks lower this morning so what is the play for

investors? deer diedre, they did beat their guide, they guided to underdoubling and then they more than doubled i think at this stage, investors are trying to see how conservative these companies are with guidance. but pretty much just in line with their beat this quarter nvidia, though, at the same time, with so much action in the chip space, we've been talking about the chip space for a long time you wonder, also, whether their growth trajectory has to means the intels and the amds lose out. >> and perhaps more of a focus on profitability even though the snowflake growth tons be very strong, losses doubled, as well it was interesting, yesterday snowflake received high praise from jeff bezos at the amazon shareholder meeting. he named snow as an example of a successful upstart doing a great

job and growing quickly. thought that was interesting because bezos doesn't usually mention competition by name, but it's also as if the market haven't appreciated snowflake. its price to sales ratio is still above 100. so some very lofty expectations to meet and investors are not liking those widening losses >> it is a signal of just how, i guess -- i won't say the nerves are deadened, but we're certainly accustom to revenues jumping 110% and getting guidance raises on top of that, john i guess some would argue because of all that and the market action shows on the market has been efficient as trying price some of these names. >> and look at the roller coaster ride of snowflake's stock price since its ipo. it's held a lot of that value from where that kinds of post ipo pop was. on the jeff bezos line, i mean,

i think different ceos have a way of silently screaming we are not a monopoly in various ways i think with aws's power in the cloud, it might be helpful for him to call out, hey, look at this company we're competing with a decent valuation. but when you look at snowflake market cap around 66 billion, it doesn't seem that crazy. if you think they're going to succeed, carl, right now they're right along where vm ware is market capwise with all the momentum, how many years out might they catch them and pass them? who knows. >> we talked about a five to ten-year horizon last night as jim's commentary has been very bullish. >> needham joins us this morning to talk about some of the numbers. raj, a lot of discussion about specialized mining and stripping that out, the $400 million

number what was most interesting to you in the print >> well, i think a number of things opinion the gaming revenue more than doubled. the crypto currency was pretty much icing on the cake so the core business is growing, you know, 60%, 70%, and this is a company that is on track to do about 26,$26, $27 billion of revenue next year. that's going to equate to about $16 billion, $17 billion of earnings next year so just phenomenal growth on the data center side, a massive upgrade cycle under way and on the gaming side with their new architecture, with their g-force 3,000 series a significant amount of upgrade cycles is happening in gaming. so it was an extremely strong print across the board >> how much do we have to wonder if this is as good as it gets for this market? i mean, we've got crypto

happening, data center, pretty good still and then you've got this pc graphics and gaming market that has been booming in part coming out of the pandemic. does all of that have to stay good for nvidia to continue to look this good >> yeah. i don't think they're kind of interrelated and i think some of those issues are conflated. some of them are transient, temporary issues i think you have to distinguish between those versus secular growth drivers that are happy in industry so let's talk about gaming first. there is about 200 million g force gamers around the world. that's nvidia's installed base only 20% of that installed base is on the latest architecture, the latest gaming architecture so there is a massive upgrade cycle that's going to happen

over the next three to foufr four years so you have highly photo realistic games that are all pretty much based on rate tracing. that is just going to continue and then you have the shift whether it's financial services, retail, they're all deploying some form of ai inside their companies. then you have hyper scalers which are google, amazon, f

facebook, deploying ai fo internal and external applications and nvidia is the leader in terms of ai. so that -- those type of trends with respect to artificial intelligence are not going to slow down. they're just going to continue >> so what you're saying is it's likely to get even better in terms of gaming and data center, businesses, but what about crypto i know it's relatively small, but is there a risk that it could not meet expectations or slow down especially giving the rising esg concerns? >> i think nvidia has a strategy to try to get a hnl on the crypto currency risk number one, they have developed their own crypto currency mining processor chip it's called a cmp. so it's a specified customized processor primarily for miners secondly, for graphic chips, new

graphic chips that they are going to release in lay may, n they've reduced the half rate to shift the miners from graphic cards used for gamers over to the specialized cmp processor. so they are taking steps in order to, number one, distinguish between gaming graphic cards and crypto currency mining. if you look at the revenue that they generated, it was about 400 million revenue. that's about 6% of total sales last quarter it was 3% so it doubled and we're seeing growth, but it's still a small percentageover all so the company is trying to by for i byfor indicate their demand for

suppliers which is the true customer base versus miners. >> finally, raj, people throw out downside scenarios either arm doesn't work out or the pandemic tailwinds hurt gaming demand or amd and intel have more exciting offerings and share becomes a story. of those, which do you think is the most legitimately worrisome? >> in terms of sentiment, it would be the rejection of the arm acquisition. i think most investors are fairley skeptical that that deal is going to get approved we are the first ones to say we are pretty skeptical on it so i think there can be headline risk to that nvidia story. although, i think a lot of that -- a lot of investors are assuming a low probability will get approved to begin with

but more importantly, they have an $8 billion pipeline that is going to hit the model in '22 or '23 the core business itself can do almost $16 to $17 earnings per share. so i have a street high price target of about $800 that's not very hard to do if you're going to be doing $16 to $17 in earnings which they're on track to do. >> fascinating 800 would be quite a number. appreciate that very much. good to talk to you. it's an exciting story thank you. >> good to talk to you, as well. thank you. >> tesla, twitter and nvidia setting up for its best week in over a month dom chu has more on what is driving this quiet rally

we are seeing them underperform today. >> it's only ten stocks in this nyse fank plus index you mentioned the three of them, throw up baidu and alibaba, netflix, there's your index on this stock on an equal weight basis. they all contribute more or less to the overall sentiment in this particular index but that fang plus index is up 4% it's still underperforming technology overall which is up about 7% on a year-to-date basis and the spider s&p 500 up about 12% on a year-to-date basis. again, fame plus underperforming those ten stocks that are more heavily traded technologyish type names if you look at the weak side of things, take a look at some of those moves we are seeing elsewhere in this echo system and market

those particular stocks, tesla, twitter and nvidia, over the past week, it's been these stocks, tesla up 7%, twitterer up 6.5%, and nvidia up 4.5% that have been driving a lot of those gains so far this week so they're the ones responsible for it if you take a look at some of the stocks that have been doing so. >> a year and away basis, we're talking about google parent company alphabet up 36%. facebook up about 21%. and nvidia up 20%. that white line alphabet stands out as a big driver of that thing. and by the way, carl, as we take a look at this index overall, we have been seeing a lot bit of choppiness, but a bit of range bound support overall. on this one year basis, it's up about 74%. now traders are trying to figure

out whether there the is any kind of upside left. i would point out that were sitting just about at the 50 day average price for this particular index again, it's just ten stocks, but it could be indicative of that tech sentiment trade not just of chip stocks like nvidia but also because of the social media side of things, as well >> it's ten important names, dom. still ahead this hour, cyber security risks, 3d printed rockets and a $2 million merger from robin hood competitor acorns so it's another day. yeah- that's what most people think.

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the top and bottom lines, sales, due to, quote, demand for electronics. the pandemic has waned here in the united states. shares are currently up.

>> seeing the goals. start up trying julia has more. the footprint has planned this technology in place. it uses artificial intelligence to improve recycling and base with its edible packaging. bloc power retrofits.

so we're moving buildings off of fossil fuels to 100% electricity. we analyze and install electrification equipment in buildings across the country >> that was from our disrupter 50 tech check live stream. i encourage you all to check that out on cnbc.com bloc power and the others are part of a growing trend. venture capital investments into climate change companies grew from $12 billion in 2019 to $16 billion last year and already this year that number has topped $10 billion. plus, there are two logistics kchs on this list. they say they aim to minimize the environmental list of transportation those are convoy and flock freight and there are two plant based food companies, as well. they offer alternatives to animal products and problem

foods and egg just has those egg replacements is working on a lab grown chicken alternative. you can find much more about the list and all the companies on it on cnbc.com. john >> julia, thank you. now cyber secure front and center, as more companies migrate to the cloud and remote work during the pandemic recent data breaches of the colonial pipeline and microsoft extreme zero day have highlighted how companies are rethinking safety from hackers and ransom ware. joining us now to discuss one of the largest cyber security firms in the world, fire eye ceo kevin mandia good to see you. i want to talk about security in general, but first, let me get this out of the way about the company, the stock when i look at the stock price over the last several years and then i look at the revenue ramp, the revenue ramp has been steady why do investors have such a hard time valuing cyber security companies maybe considering the profitability journey. what is your reflection on that? >> well, we have a lot of different types of investors,

first off, where we have parts of our business growing fast, parts of our business that are more mature and run flashish so we have investors looking for high profitability we have investors looking for high growth. we're just going through a stage where we're managing our portfolio in a way where we have fast growth stuff that is emerging and becoming, you know, when you look at the segments we report, our platforming cloud segments growing faster than our legacy on prem business. but we're just going through that transition. the positives, the bigger portion of our company is now the portion that's growing fast. but we had a multi year transition where we had to get to that point. so i think we're just -- as i call it, we're just coming out of the tunnel because we finally have a more rapid growth emerging solutions becoming the bigger portion >> okay. now let's talk about the security picture right now certainly it seems like over the past couple of years the type of breaches, the seriousness of them has intensified

what are the new types of protection that you're able to bring to bear and that companies need to bring to bear to deal with these things. say colonial, for example, is there something that they could have or should have had in place that would have prevented that >> first off, in theory, everything is preventable, right? but in perhaps, it's a lot more complex. so you always have the monday morning quarterbacks that wake up going, hey, if they did this, this and this. but the unvarnished truth on security is everybody has things on the docket they want to get and want to do and there's no such thing as perfect. when i look at the security challenges we have in this nation, you know, there's technical solutions and nontechnical solutions but it goes to this. you don't win the war on crime you fight it every day and it's going to be the same thing with cyber security. there is no, hey, we won and you wake up one day and there's nothing to worry about this is an ongoing battle and every single company is going at it alone right now

so bottom line, we're all addressing it our own way and we're just going through a phase where there's no risks or repercussions to the attackers so the attacks are going to continue and continue. if you give somebody unlimited shots, sooner or later, they're going to break into your organization >> kevin, as you say, it's ongoing and we're seeing more action from the federal government the dhs just this morning announced new cyber security requirements for critical pipeline companies but some might say that this comes too late after the colonial pipeline attack so what do you think and are you confident that the federal government is doing enough proactively and that they can actually enforce these requirements >> you know, i was doing a lot of research last night and reading what everybody was saying and there will always be nay sayers but i'm a proponent of what the government is doing. they're leaning in and they've got the executive order that

first and foremost is going to tighten the security for the u.s. government. whether it's too late or not, you know, people would condemn them if they did nothing, so obviously, any action is better than no action when it comes to cyber security but we're going to see the government security get better we're going to get threat intelligence sharing get better. we're going to see supply chain security get better after the solar winds breach and we're going to actually start over time responding as a nation to the security breaches rather than responding almost like here is the government's response, here is the private sector's response, here is the victim's response we have a hodgepodge of doctrine right now and at least with the executive order, we can play a little bit more team ball when it comes to defending the nation >> some of the individual components of that tsa/dhs rule is that you have someone on call 24/7 regarding security that you report episodes within 12 hours. are those things not already

sort of standard just by default? >> you know, i bet they probably are. nobody really knows. when you're a victim of a security breach, not everybody has to deal with that every day. they don't know who to call. there's no 1-800 number when you've got a challenge right now. so there is going to be a little bit of imperfection as some folks have to deal with things that are new to them but i think for the most part, all the companies that we see when we're assessing their security programs, they don't want to have a breach. they have well intentioned people, well intentioned doctrine, well intentioned policy they're buying a lot of technology and they're investing to secure their networks so it's just really hard right now as we're all working from our homes and there's people 10,000 miles away to take in as many pot shots at us as possible you're just going to keep reading about breaches until there's ricks or repercussions to those doing it. we can opinion playing defense, but even the best defenses give up some points every now and

then so what we have to do now is start imposing risk and consequence to the folks that are actually doing the attacks >> kevin, that you can from fireeye. >> thank you >> we are watching shares of ford today our bc sees a 20% rally to the upside coming after the.can's electric announcements upgrades, the stock and takes the price target to 17 haven't seen these levels in years. meantime, just announced savings and investing app acorn is going public via a spac merger the ceo joins tech check sd exclusively next stay with us how? they have a better finance system than we do. i feel like they might have a better finance system than we do. workday. how do they make better decisions faster? workday. it's got to be something workday. i think i got something. work... hey, rob, you're on mute. hello! hey, rob, there he is. workday. the finance, hr and planning system for a changing world.

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relatively space in just a moment, but first, a news update with rahelle solomon >> republicans are proposing a $928 billion infrastructure bill that's a counteroffer to president biden's bill which is roughly twice the size the gop bill focuses more on infrastructure programs including roads, bridges and airport pes.the white house and republican plans are now about $700 billion apart president biden is expected to propose a $6 trillion federal budget tomorrow that includes significant spending on infrastructure and social programs budget deficits are projected to keep growing for the rest of the decade before declining in 2030. durable goods orders fell in april. it's the first decline in 11 months it was driven by a sharp drop in transportation orders, including auto and aviation parts. and jobless claims hitting another pandemic low with 406,000 claims in the latest weeks. lay yaus are declining as companies seek to meet

surgeoning demand from the rebounding economy however, continuing claims are over the next six weeks. the jobs report will be interesting to see what happens. >> it certainly will be. thank you so much for that >> acorn is announcing this morning that it will go public buy via a spac with pioneer merge egg corp it's a saving and investing app that competes with the robin hoods of the world the deal has an estimated value of $2.2 billion. and we should mention, of course, that nbc universal and comcast ventures are investors in acorn and cnbc has a strategic partnership with the company. joining us now, ceo noah kernor. congrats on this milestone >> it's great to be here thank you so much. >> so the acorns mission of building a financial wellness system, that does seem to be at odds of what some people call the gamfication of trading that

robin hood promotes. where do you stand as entertainment? >> i think everything about acorn is saving and investing for the long-term. so we encourage our customers to focus on compounding, diversify kay and long-term financial wellness and we get them saving and investing small amounts of money over time so they can create a better life for themselves and their families. >> so should trading be fun? are you part of the buffett camp that thinks gamefication is not a good thing or the reddit meme investor camp that says trading can be fun and should be fun and is a way to learn about investing markets? >> i'm in the camp that says saving and investing for the long-term is how people should focus and how people should think about investing and that's what we encourage. and to benefit from compounding, stick with it. diversification, stick with it that's our whole man tra >> noah, i'm wonder building the business model going forward as you plan to scale up your

subscription revenue, which i take it you expect to continue to be the bulk of revenue. does subscriber acquisition start to cost a whole lot more as you have to use marketing dollars perhaps to compete with some of the bigger names in this space? >> well, as you know, we're over 4 million paying subs, trend to go 10 million. i think this time in the country is really important with what happens with covid for every day consumers. we want to get as many people on the acorn platform as possible as fast as possible so we can put the responsible tools of wealth making in everyone's hands. >> yeah, but i'm asking you, how do you do that do you have to invest either in content or in just advertising to get people on to the platform and subscribing or to choose acorns versus another platform and do those costs increase as you start going after more and more customers who either haven't paid attention to this at all and, therefore, are hard

to reach or are already on someone else's, a competitor's platform >> over half of our growth comes from organic and referrals, so we feel confident in the growth path going forward >> noah, we're in this interesting period where, for example, fidelity is opening accounts for kids as young as 13 and there's sort of a debate about what the ideal age is trough bring people into trading. on the one hand, you want to start them out early and get them accustom to good habits for the long-term, but there's still some -- the argument about whether a 13-year-old is ready to make intelligence decisions about stocks, for example. where are you on that? >> so we launched acorns early last year and that allows people to invest with their kids. so we're trying to encourage people to start investing in diversified port yol yoes he with their kids as early as possible if everybody in america invested

in their children as early as birth, in diversified portfolios, imagine what that would mean for the country so that's how we think about it and that's part of our tier that we launched in 2020. we're continuing to lead into that and encourage parents across the country to do the right thing for their kids and start supporting them as early as possible so that they can have the best life that they can possibly have. >> reading about the expansion plans, you know, how you're going to grow, one is family financial planning and the other i see here is debt optimization. i'm wondering if you can talk about how this fits with the model overall. >> so we talk a lot about the financial wellness system. and that's really about helping the every day consumer who are wholistically manage their money and to do it as an individual, holistically manage your money across all the different areas of your financial life that matter, requirements, kids investing, cash to spend, suspension management, all the areas that matter, even emergency savings and the same

thing for families and we want to make it incredibly easy for everybody to achieve that so we will launch higher tiers for individuals and for families to help them manage their money wholistically. >> noah, we spoke a few years ago at a conference and you told me at the time that if a product is free, there is some way that someone is making money, probably through selling your data that was very pressant other models over the last year or so, namely payment for order flow have come under a lot of controversy, a lot of fire what do you make of that what do you make of the response to that model and sort of these hidden ways of making money that some other companies in your space have taken >> you know we believe in subscription pricing and the reason we believe in it is because it's transparent, it's predictable and it's simple. and part of the reason we created that model is against a back drop of all the of skepticism that every day consumers have about the financial services industry. and i want everybody to understand the way we make money, that it's clear, here is

the value, here is what you pay, and just keep it super simple. >> right and that goal that is at the center of what you do, financial wellness, it's a worthy one, but perhaps doesn't have the same kind of growth or user numbers as some of the other models. is that why you think we're seeing your valuation more in line with the brokerage than a tech company >> well, we talk about long-term financial wellness for our customers and we think the same way. we've got a long-term outlook and we feel like this is a fair, conservative valuation and that's how we think about this we're all about the long-term. and as a business leader and as a business, we're about the long-term in building a generational company for decades to come. >> noah, thanks very much for being with us. we will continue to track your progress as a public company nbc universal and comcast ventures are an investors in acorns and cnbc has a strategic partnership with the company

>> when we come back, wondering why meme stocks are making a comeback and more importantly who is upset about it. plus, watch work day and earnings upbeat joud look, not enough to keep the stock in the green this morning, at least so far down 2.3%.

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another meme stock rally hitting short sellers right where it hurts to the tune of nearly $2 billion just this week kate rooney, what's behind this in gme and amc >> hey, john, it feels a little bit like january, the battle we know gamestop investors and the short sellers is raging on this week, the shortsellers are losing again those betting against amc, gamestop and virgin galactic have lost roughly $1.8 billion in the past few days as those stocks move higher those three stocks were among the most heavily shorted names this week as their prices rebound. and year-to-date, gamestop short sellers are down more than $6.7 billion that is according to the another data firm s3 the short squeeze back in january helped send those

gamestop shares up by more than $1600% at the time the stock lost most of that during the following week. it's down slightly today, though amc and virgin galactic is coming back this week. part of that could be sellers trying to close out their positions by buying back some of those shares and there's likely institutional investors jumping on this momentum mentions of amc on reddit and the popular forum wall street betts are on the rise this week. amc has now dethroned gamestop as the most mentioned game ticker and another one to watch, beyond meat, that is back in the top 20 names for the first time since november opinion back to you >> amazing story some of those numbers for the week are pretty stunning, kate, thank you. when we come whaback, 3d printed rockets compete, jeff

bezos and elon musk but first, a top pick in cyber security, see crowdstrike sees double digits ahead we're back in a moment

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rockets coming in at number 23 on this year's disrupter list. julia is back with us. and with an exclusive interview with the ceo julia. >> thanks, i'm joined now by tim ellis, ceo of relativity space tim, thank you so much for joining us today i want to start off with the big question that all space geeks are wondering about. you've raised so much money, $685 million, but you haven't yet had a launch what is the update on your launch timing? >> yeah, of course excited to be here relatively's 3d printing an entire rocket. so we've built not just our own launch launch, we're on track to launch that rocket from our launch site at cape canaveral, florida we have two launch sites we're only the four company to ever get a launch site with the air force at the cape and we're

building rockets in a completely different way than it's been done before. really, it's been true for the last 60 years that every aerospace factory you walk into today is building rockets one at a time by hand on a bunch of fixed tooling and cap ex with hundreds of thousands to millions of individual parts, all assembled manually so we really see 3d printing as an automation technology that replaces that tech stack and actually builds rockets much more quickly via software and data driven technologies, which is what we're pie oneering >> talk to me about the competitive landscape for the rockets them one of your rockets will be competing directly with spacex why take on the leader in this space that has such a head start? >> yeah, of course i think actually it goes to what inspired me to start relativity.

so i was building my career at blue origin where i was a rocket propulsion engineer and founded the metal 3d printing division there. and a lot of our team has worked in private space both at spacex and other leading space companies. in our 400 person team, we've launched over 10,000 rockets among all of our team in the past couple decades. so what we're really doing is i was inspired by spacex landing rockets and docking with the space station five years ago when i founded relativity. but despite all of that amazing and inspiring success, all of their animations right when they got the mars and people walked out faded to black so for us, it was about relativity building the second company that wants to go to mars it was our long-term mission from the point i founded it five years ago that we want to build humanity's industrial base on mars and we see 3d print agency the technology necessary to build that industrial base

so at some point in humanity's future someone had to build this company to 3d print on mars. so we're actually joining spacex in making that happen. >> so you've talked about 3d printing on mars, but i want to ask you about the technology itself are there other ways to monetize or license your 3d technology on this longer term of building infrastructure on mars >> yeah, of course so we're starting with rockets we're actually the most presold rocket company in history before launch so we have sold more teranuans before flying than any other company in history so that's a pretty big customer adoption both with the d.o.d. and nasa as anchor customers we're building a rocket more than 20 times larger than our first one that is fully reusable but at the heart of it, we see 3d printing as a whole new tech

stock for aerospace that is software and data driven and can it rate very, very quickly and so much like you've seen with gas internal combustion engines to electric, the on premise servers to cloud, pioneering 3d printing is a tech stock i believe will be the most disruptive technology in our lifetime for aerospace this is really just more than building and designing on rockets in a full-stack manner we are doing today, but it is really about actually pioneering what i think is going to be the future of our society in the next 100 years with aerospace and 3d printing as really a software-driven method to do it. just one example is we're actually building a rocket from raw material to complete in 60 days from scratch, compared to two years that it takes traditionally. >> amazing well, i look forward to seeing your rocket launch later this year and all of the different places that that 3d printing technology can be deployed tim ellis, ceo of relativity space.

thank you for talking to us take >> thanks, julia appreciate it. >> thank you beating a raise from okta meanwhile not enough to counter questions on the guide and a sudden cfo departure with investors rarely like, down 11% this morning read more on today's sharp move to the downside on cnbc.com. meantime, jeff bezos giving us clues on what amazon's next pillar might be under andy jackson. that's next. "techcheck" back in two.

this morning the information report in amazon, microsoft and google are all vying for a multi-year boeing contract said to be worth at least a billion dollars. guys, it is an increasingly competitive cloud landscape, just one thing that incoming ceo of amazon andy jackson will have to navigate when he takes the reins from bezos, we have a date of july 5th. it will become a pillar, and a key question for the era, what is the next multi-billion dollar business or businesses that could join the three bezos offered clues at the last ceo meeting for him to head. could streaming be a standalone

business and not part of the driving wheel driving prime membership it would be interesting to see it broken out. >> i doubt it. it seems to be at this point one of the prime components, sort of the means to an end, carl. we can't forget about advertising though it is already a multi-billion dollar business for amazon, growing very quickly amazon has so many different ways to tie in and grow that advertising across this content ecosystem that they're building in prime, but, you know, they've also got prescriptions, delivery, that kind of thing so many options for him to play with >> grocery, too. >> also, dee, i loved your tweet yesterday about the symbolism of july 5th, if you want to tell our viewers who might have missed it. >> yes, so amazon was incorporated 27 years ago and bezos mentioned that he said that it was sort of a sentimental date to him that he would be handing over the reins

to the next generation we had an idea that andy jassy would be the successor, but there were a few other contenders of course, we have jeff blackburn who has been part of the core team for over two decades. so it will be interesting to see what the new team achieves but, carl, bezos isn't going anywhere he still will be chairman of the board and, you know, i think he will -- as they have said, he will have a major hand in some of the biggest decisions >> no doubt about that guys, watch twilio this morning. ubs does initiate as a buy target $385. they say they're well positioned to benefit from a healthy demand environment in the cloud and that high growth, high margin opportunities lie ahead. "techcheck" is back after one more quick break mmm, licorice records. wonka, digital workflows for it tell us this machine needs updating... kids don't really have records anymore... but it tastes better on vinyl...

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with nervive nerve relief. metro one more thing before we go, guys new details on adam newman's we work exit package. the "wall street journal" reporting the ousting founder will receive an enhanced stock award worth $245 million that is on top of an already-reported $200 million in cash and $578 million of we work

stock sold by a newman-controlled entity i confirmed those numbers as well, but all together, guys, over a billion dollars total the package also allows newman to refinance on favorable terms. that's quite the sum given the story, carl. let's get over to "the half" now. >> let's get to "the half," guys all right, guys. thanks so much welcome to their i'm scott wapner stocks, rates, where your money will work best, where the bargains are, even as the ten-year is on the move again. we will debate the road ahead for your money today joining me for the hour, brenda vingiello. jim lebenthal is here, steve weiss and jon najarian good to see everybody. s&p is good, in positive territory, as is the russell there's the