daniel lamarre, thank you for joining us today and good luck with reopening of your first shows in vegas later this month. >> thank you. david a mixed picture with the s&p turning slightly negative that does it for us on "squawk on the street," though a big week ahead meantime, "techcheck" starts now. ♪ happy tuesday. welcome to "techcheck. i'm jon fortt with carl quintanilla and deirdre bosa today's amc's ceo embraces wall street and $230 until a stock sale stock up about 11% to start the month, and the cloud era goes private. the breakdown of the deal. one more software player is off the market. later, teslas getting

pricier. what elon musk is saying about the global chip shortage, de >> the first day of trading here in june. stocks up big to start this morning's session. well off those highs, however. now with tech once again underperforming the other indices. nasdaq hovering around the flat line now down 0.4 of 1% bitcoin trying to regain t37,000 level. carl >> and deallogic showing the ipo market definitely cooled all the 40% pops we saw in january and february basically have been cut in half down to an average of about 18% at the end of may a number of recent debuts last month actually fell on their first day of trade same story for spacs, you know dried up a bit refinitive data showing only 4% of investment banks' total fees came from spacs in april and may. the number as high as 22% at start of the year.

context ahead of our interview bottom of the hour with sofi's an known noto, takes his company virtual with a spac. that first day of trade thing will be interesting in terms how it affects sentiment certainly people love a big pop on the first day, but frustrating for a lot of viewers, especially those unable to get in on names they find interesting. >> some people, a first day pop. a lot of criticism out there about that, de i can't help but thinkship has to some has to be healthy the market overheated to a degree we saw names popping end of 2000 -- sorry, 2020 and 2021 to the point some ceos seemed to delay debuts hoping things got bit more rational. saw it happen with c3.ai and named like that. criticized now for coming down from insane heights.

maybe this is okay >> yeah. you can definitely hear some in the venture capital world, imagine bill gurley saying maybe just better priced guys, i look at the private markets, and they remain red hot. last week you had softbank's vision fund, too, raising nearly $800 million series a round. tiger global still extremely active in this space with nearly 100, or maybe more than 100 at this point, investments this year carl, you wonder are gains despite the stock phenomenon, despite companies going puck lib earlier, still seen by earliest investors, and that's maybe the question for public market investors. how you take advantage of the gains during the highest growth periods, and when you look at a spac, presentation versus an s1, carl you see companies doing direct listings and you get more information from those

prospectuses. >> yes and a more reasonable time frame, jon, but we'll see. definitely the spac ifphenomeno emotional. ipos come along and have no chance because of that first-day pop. another way to get into issues that are new, and growing, in terms of the period of their hypergrowth. >> true. true, and not every company going from private to public one company doing the opposite this morning, cloudera, and agreeing to buy the software company in a $5.3 billion deal taking them private. deals for $16 a share. roughly 24% premium to prfridays close and a rough era not joining others those gained since the pandemic negative for the year ahead of this announcement and trading below its ipo price.

carl, reminds me of the danger in the best of breed tech thesis a few years ago, cloudera, all the rage, all investment, but going up against amazon, aws, google -- some big players with their own sort of home-grown, baked-in solutions here, and not every one of these best of breed players will succeed >> yeah. but, de, you just talked about private money, and clayton, to a larger degree i argue kkr, has a very long and storied history of taking names that appear to be underperforming their peers, managed to restructure and then bring them back as stronger players. see if that happens this time. >> yeah. a lot of money in the private markets that needs to be put to work and begs the question, are there other sort of cloud underperformers that could be ripe for a similar model we know activists investors have

their eye on box dropbox. jon, your take on this ahead of the ipo starting building up its own cloud infrastructure in that prospectus from a few years ago led to $75 million in cumulative savings over two years, they said an example of a company bringing infrastructure back in-house yet also underperformed in the market and acquired hellosign. docusign off to the races and dropbox, a company not a ton of gains since the $21 ipo price, turned around $27.50 okay, but far underperforming some other hot names in this space? >> yeah. that cloud aspect you mentioned, really important when you've got predictable workloads over a period of time, cloud isn't always, you know, public cloud, not always the best option and why there's so much talk about hybrid it's one thing to use cloud for

seasonal demand or new products. not sure how they'll do. flexibility. but if you can standardize, to the degree you can do that with a work load you know a lot of times it's not worth it to go out there with public flexibility, and so this builds the case for some of the players out there trying to make that argument i mean, recall all of them are, but some like ibm, a prime example. trying to make an argument why they should get more attention we'll see to what degree they're able to take advantage, de. >> as you mentioned, jon perhaps a warning, too, for some hot cloud companies. they have giants to compete against. we saw what happened with slack, ultimately acquired by salesforce, too, before we go, talking crypto a new month, but the last month, month of may, a rough one for bitcoin posting second worst monthly loss ever, although more regulatory headlines over the weekend, didn't do much to the price. below 40

hovering around 36.380 to start june jpmorgan warning the bitcoin crash is not over. saw apple and google add coinbase capabilities to their platform if you're a long time, a holder, some of the bearish crypto headlines over the past month may prove to be bullish in the long run you see the irs and the federal reserve making comments on a stable coin. that's the bulls argue more evidence that bitcoin, cryptocurrencies are being brought into the mainstream? >> yep jpmorgan, an interesting set of coverage about crypto. they've been issues notes for a long time. they actually said, jon, back when it was above $60,000, that the momentum signals were weakening. unless backup of 60k trouble ahead. exactly right. then i guess may 25th they said

the pace of this particular unwind thus far does look eerily similar to 2018, and that should caution any of you that the worst is behind us we'll see. >> yeah. i mean, i hate it when we say "we'll see," but, we'll see. crypto -- we will! if we live that long, we will see. crypto's a weird thing happening in a weird time and so clearly when we see nfts, when we see all of these different coins emerging with different rationales behind them, there is a revolution happening in fintech and crypto is a part of that we'll talk to sofi a little later taking another angle on that revolution and i guess seems to me that if you believe that crypto is here to stay, then you have a thesis about blockchain and perhaps about bitcoin. bether that means it's worth 30,000 or 100,000, i don't know, but each investor's got to make that calm and some people who

made the bet it was worth a lot back when it was at 1,000 are feeling pretty good now. do you want to buy it here >> yeah. there's -- >> de? i don't know. >> also now industries built on top of cryptocurrencies. right? jay powell, stable coins and nft phenomenon and the promise of defi decentralized finance. carl, interesting, though. if you are looking at this market, perhaps you want to look at some of the smaller coins that held up over the last month. what do they say or don't say about the market why did they hold up perhaps less energy intensive. so, you know, the space is getting bigger as it matures investors can afford to be more selective. not just bitcoin anymore right, carl? >> yeah. well, certainly, that share story what some people use to blame it on the, why the price came down. we'll talk about that obviously and a lot more with sofi's anthony noto in a few moments.

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get a gut check on neo citi taking it to a buy this morning. a forecast pick-up in demand in coming months and increased order volumes. the stocks pull back as attractive entry point for longer term investors. shares up 7%, and shares boothing to kick off the week. amd surging more than 13% as the theater chain announces agreement to sell classic common stock. the ceo chiming in on the agreement saying we "with immin release of new movie titles time for amc to go on the offensive again. other names up as well gamestop, up 7.5% and blackberry up 5%. here to break it down, margins

editor, rungen roy good to see you in june, and i've got to think, amc, they've got this extra capital they've got this stock price if they just go back to being a movie theater chain, this is all for not. right? i mean, watching movies in a building is a fine foundation, but don't they have to build something different? something smarter on top of that not sure exactly what that's going to be. >> i mean, movies seem like a good business. movies could once again get us back into the theater. of course, there are secular headwinds like streaming and every other kind of problem that movie theaters are facing right now. but peoplmeme stocks are back january 27 saw insane rises in value of easy that stocks, and we've had a few months of developments over the past few months from end of january to here, june 1st, but the biggest similarities are amc and

gamestop are two, still two of the most shorted stocks out there. they each have over 20% of their float shorted right now. >> uh-huh. >> one of the key parts of the narrative from before, and that's still happening right now. >> right. >> and the other, they're becoming, again, mentioned all over reddit. bank of america issued a note mentioned here on cnbc they're again, mentioned most since mid-march, meaning the two kind of perfect elements that bring together that reddit field short squeeze are back social media chatter and a high short on the float we're seeing it again. up 12% today. >> as seen in the past these things can go down quickly as they go up i wonder what does an investor have to -- an investors, not a trader what does an investor have to believe about amc's prospects and potential strategy to think it's worth buying at $30 a

share? a pretty nice price. trading there back in 2015 what do you have to believe about the potential of these locations to do gaming or augmented reality. i don't know it anything else beyond just showing movies >> i mean, jon, you said it right before the break we are in a weird time right now. and i think investors, you want to try to look at a fundamental story, even before the pandemic. introducing virtual reality into the theaters in those little kind of setups you can pay extra for, but the ceo of amc, adam, one of most interesting characters in the entire drama unlike other players in this, he's gone all-in in the wall street bets community. beginning of may, their earnings call, he made point that almost 80% of their outstanding shares are owned by 3.2 million investors. not only did he make that point, he said they own amc

we work for them i work for them. he's not backing away from this. he is leaning in to this entire community, and it's -- it's an interesting thing, because maybe from a consumer marketing standpoint, you have 3 million loyal advocate brands right now maybe wouldn't have gone to a movie before now lining up because they're very passionate about the stock. >> that's interesting, the idea that you could bolster movie attendance because you have shareholders who love the stock, but i mean, i'm not sure that's enough to sustain box office trends for more than a couple of months literally i don't know, but is it the point here to make moviegoing something you cannot get at home? >> from -- looking at this from the actual, like, business of amc, that is not what the stock is trading for this is really important for any investor who's trying to make sense of this market

trying to attach a fundamental valuation. you see it with storks like tesla. it's a battery company that are going to kind of redefine the electricity grid be an insurance company. average investor tries to back their way into a valuation, and we can try to, but it's really important. if you -- you can't look at this stock without looking at the dynamics that are playing into it on that same earnings call, adam aaron, he actually referenced a gorilla peeple wall street bets retailer army -- kind of weird for cnbc, but this is true he actually announced he would be donating $50,000 of his personal money and amc would be donating another $50,000 to a conservation fund in central africa that saves endangered gorillas what does that have to do with amc business not a lot, but actually in reddit, they called themselves the ape army use memes like apes together

stronger and they had donated $350,000 back in march to the same fund he, in the earnings call, is basically giving a nod to this investor community that, i get you. he's even speaking in the language and culture of memes where you don't say it directly. you kind of, you know, give a nod, subtly you show i'm on the inside of this conversation, and a few weeks later, we're seeing this boom again of investor interest, and trying to assign fundamental business analysis to this, trying to think of the long-term health of the business is nearly impossible when the price is fluctuating based on short-term interest are and gorilla memes. i mean, i don't know what an investor is looking to long term. >> it's not that weird we have memes now. they're a big part of "techcheck." got it an interesting idea perhaps fundamentals don't need to drive the stock going forward.

i mean, we've seen gamestop and amc sort of retain these levels that, you know, institutional, traditional investors didn't think was possible i want to change gears, because a piece of yours said that wages driven inflation switch to ride share could be a good thing specifically looking at gig economy companies like uber and lyft, struggling to bring on new workers. it is great they're getting paid higher wages however, isn't this the exact problem that uber and lyft set out to solve cheaper, quicker rides, and now we're seeing them have those exact same issues and in some cases taxi's actually doing better in terms of pricing and availability >> yeah. about two weeksing a i had my first business travel since the pandemic began and i tweeted that my ride from eastern manhattan to jfk was $95 also $60 to $70. when i landed i had a barrage of

angry replies saying rides were officially cheaper i should take private transit. artificially depressing the price via subsidies and just wage control that they had complete leverage over gig workers to keep wages and pay lower to give a lower price to the end consumer it created a certain behavior and expectation among the urban upper-class consumer that is no longer there that we're seeing the real price right now. >> so ron john, haven't we just seen them become taxi companies? tech companies, disrupters or have they become the industry they replaced? >> we're already seeing the next story, i think in the "wall street journal" yesterday. doordash, the future is automated delivery, instacart bringing robots to kind of basically eliminate all workers. there's always a story about what's next. original ly uber was selling

self-driving cars would bring them to a cost structure that made sense still a long way from that now it's automation on the robotics side. another doordash, a very creative story not actually a food delivery company. they're going to sell non-perishable goods, sell things from your local pharmacy. sell things from cvs which are much more profitable. >> logistics >> yeah. logistics easier on that side. logistics for the everyday urban, shopping experience always a story down the road. >> yeah. yes, but in the case of uber and lyft, they sold off their stories down the road. economy vehicle united ations. save that conversation for another time thank you so much for being with us >> thanks. sofi ceo anthony noto is next as he takes his company public like a merger and meantime, the first trading day of june. the best performers on the nasdaq in the month of may

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resetting here bottom of the hour welcome back to "techcheck." i'm carl quintanilla with jon fortt and dbsjulia boorstin and joining us in a few minutes, anthony noto coming up in a few minutes first an update. >> happening at this hour, manufacturing activity surging again. ihs markets hit an all-time high in may popping previous record set in april new orders rising to a new high. report says capacity is constrained by component shortages and supplier delays. supreme court will not hear j&j's appeal of a $2.1 billion verd over asbestos in its baby powder 22 women won a class action case

claiming they acquired ovarian cancer from using j&j products. and the company's lower profit guidance for the year, citing weakening demand for covid testing products shares pretty much flat on the year. moderna seeking full fda approval of its coronavirus vaccine. the second vaccine put you for more approval. and the submission last month, and until now administered under emergency use approval jon, despite this, shares down about 1.5% back to you. >> rahel, thank you. companies still going through the security meat grinder. details on the latest corporate cyber attack is next as we mentioned, anthony noto from sofi on the other side of this break stay with us.

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sofi begins trading this morning after its spac merger earlier the year company's valued nearly $9 billion. also worth noting sofi is a six-time cnbc destructor company and seventh to make its market debut via sparc.

joining us, its ceo anthony noto at nasdaq most likely. congratulations. >> thank you, carl thanks for having me as well. >> you know, we've been tracking you and your journey at sofi really since i think probably around your first day. i wonder for how long have you envisioned a spac merger as a possibility? certain when you started with the company, it was just not the phenomenon that it is today. >> yeah. the journey we embarked on in february of 2018 wasn't so much about becoming a public company as it was about building a complete suite of products on a mobile application to help us meet our members' needs at every point in their life and be there for every one of the decisions they made and everything in between and knew at some point we would think about going public but wanted to make sure we solidified not only that strategy but actual results tied to the strategy which we have.

a that point we then decided to go public and a question, what was the right vehicle? do you do a direct listing a regular ipo? a spac merger ipo? obviously we chose the path of doing a private investment plus a pipe and a spac all combined in one, and we're really happy with the choice made and outcome we see here today. >> shares are up going to be a nice open. looks like here on the first day, anthony i wonder, when you think about the tailwinds that you've been able to ride over the past three years or so, which have been the most impactful and then what, with the current round, will allow you to do in the year or two ahead? >> yeah. i would make a couple of points, carl first, because we are a broad-based suite of financial products all available on your mobile phone from mortgages to refinancing student loans to personal loans, also investing in single stocks as you know, we pioneered fractional shares and offer

cryptocurrency we have 20 different cryptocurrencies available on the platform and robo investing in addition to getting two day early paycheck into your money account and most recently credit cards. we couldn't have that suite of products without benefiting from different products and cycles. rates going up as they were in 2018 going into 2019, we saw personal loans benefit rates came down, we saw student loan refinancing benefit, mortgage benefiting and invest benefit. so we kind of plan in different parts of our portfolio during different outcomes the biggest trend we've ridden over the last three years is secular acceleration from physical finance services to digital finance services that segment of acceleration only moved faster on the back of 9 stay-at-home in a nom none over the last year, and -- >> anthony, i want to ask you, want to ask you to clarify for investors your differentiator at

sofi i see so many fintech players converging on serving all the consumers needs. you guys started out more with student loans and now you're broadening out, affirm a credit card alternative and broadening out. robinhood, coinbase similar. why is sofi? if i'm going to invest in one kind of consumer-leading fintech company, why is sofi's philosophy and differentiation the one i want to focus on. >> jon, quite simply we're the only one-stop shop on a platform others talk about adding other products and diversifying but only sofi has done it. the only place you can take out four different types of lornans. invest in a road advisory accounts, etfs f five of our own as well as cryptocurrency

a credit card. allows you to spend, pay and save any way you want. so many people have talked about broadening the product, and broadening the suite of products, but only sofi has done it on one mobile platform. if you wanted to invest in both cryptocurrency and so faofi, yo would have to use at least two apps charge no fees on loans. in addition, charge no fees or overdraft fees as relates to sofi money get your paycheck to you two days early each product is meant to be built best in class on its own and after you use that product and we build trust with you you'll choose your second product from us. uniquely, now that we're a one-stop-shop, each product works different with you are other products. >> risk, tradingo on margin, thinking like that even the way you recently

approached the ipo market. is that a differentiator in your mind >> it is a differentiator. we want to educate investors and give them the things that makes the most suitable decisions for themselves trying to educate investors how to invest in the long term and proud of the fact less than 1% of our sofi invest members do more than three trades in day. our investors are investing for the long term and use recurring investment feature to dollar cost average into things more risky and may be more volatile give warning labels when they envest in cryptocurrency every time before they hit "buy" a volatile unproven asset and you could lose all your money. we want to help them get their money right by taking the right actions every day at every major milestone in their financial lives and make those products better together and give them member benefits. >> anthony -- anthony, it's deirdre. you know, you explain differentiators like warnings but still use the model of

payment for order flow, like others like robinhood does. does your use of payment for order flow differentiate at all from robinhood since it has proven controversial, why not use a different model altogether >> we allow our investors to opt out of payment for order flow. disclose clearly it's one of the revenue streams that support the sofi invest products in the fact we don't charge commissions on single stocks or fractional shares so the biggest differentiator, if you do not want revenue from payment forward flow we can eliminate that from your port portfolio. oles an disclosure on our website, great financial advice. the media hasn't allowed the price payment taking place pap two-prong benefit. supports no commission on single stock and improve, the price. >> right there's been evidence that that's not always the case

anthony, a question on the spac process. why was the right sponsor for sofi have you talked how long he'll hold his shares for at least, he said hold them at least a year, and not, you know -- not sell any like he has for virgin galactic >> social capital shareholder in the company. a very happy shareholder we've built a great process together allowing us to tap capital markets as well as private markets with rates with significant amount of capital, $2.4 billion. >> will he hold? have you had that conversation >> like any of our shareholders, he's bound by restrictions in terms of trade windows that are not available to trade, in addition to lock up periods. he has ability to sell just like any investors outside of those two restrictions he's been a great advocate for the company and one we've enjoyed partnering with. we do not ask our shareholders when they're going to sell.

>> finally, anthony, as a form 0er investment banker yourself i wonder how you think about m & a and more specifically how you think about legacy financial companies trying to get into the space you and others created does that lead to game-changing m & a either on the sofi front or among peers in years to come? >> the internet sector broad or direct to sector driven by technology, merger and acquisitions played a critical role think about the early web 1.0 and then internet 2.0 companies they've be driven great value accretion for shareholders through m & a. bookings has become name of the company. google's acquisition of youtube or double click. ebays paypal and the list goes on and on. our acquisition of galileo gives

a platform what we call aws or fintech a huge advantage, and giving members better, unique differentiated products sooner than anyone else a factor in the industry and we'll be prudent looking at different strategic choices. we watt a small company in hong kong for $20 million that became the corpus of what we've launched in hong kong called sofi invest and an experience strategy. similarly, gal ileogalileo. it's an important element of the strategy. >> congratulations as we continue to watch your progress. quite a day for you guys appreciate your time great seeing you. >> thank you, carl appreciate it. thanks for having me. up next, why elon musk says tesla prices might be going up soon. and check out the best performers on the dow in may as we kick off a new trading month.

dow chemical, jpmorgan chase, goldman sachs among them. a lot more "techcheck" ahead. stay with us. o start - or too . ♪ ♪ wealth helps you retire. worth is knowing why. ♪ ♪ principal. for all it's worth. so it's another day. yeah- that's what most people think. but in business it's never just another day. every day is the day. there's the day your store has its biggest sale. the day you have a make or break presentation. and the day your team operates from across the country. but there's also the day you never see coming- the day when nothing goes right.

see- that's the thing. you never know what the day might bring. so whether you do business on wall street or main street you have to be ready. with the power of the network that can deliver gig speeds to the most businesses. the freedom to control that network from anywhere. and advanced cybersecurity to help protect every device on it. all backed by a dedicated team 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

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if you weren't watching mare, or the french reunion, the netflix special over the long weekend, catchy, too at the traditional box office we saw pandemic best. $57 million for "quiet place 2." carl jon, rather. >> i'll take it. yes. meanwhile, the world's largest meat supplier hit by a cyber attack over the weekend. eamon javers has the latest. eamon? >> jon, a gas hack now a meat hack company jbs usa. not a well-known brand might not be familiar with the company but they own a significant production of the meat in the united states. details put out about this cyber attack saying the attack hit servers supporting north american and australian i.t. systems. good news from the company, they say they're back up servers were not affected as part of this

might help them get up and running more quickly, but still say all of this may delay certain transactions with both customers and suppliers. so we'll wait for more detail from the company including what type of cyber attack this was. we don't have a lot of information here don't even know, for example if it was a ransom ware attack and if they're negotiating with the hackers over the price of ransom they might have to pay we'll wait for more detail from the company on all of that as we wait to see whether this has significant impact on their business as of right now, the backup servers weren't affected >> a little optimistic thinking here, maybe, as they try to get this thing up and running again. >> eamon, perhaps too early to look into what else a hacker might have been after, bee sides -- besides ransom ware attack if attacking meat. i'm sure the cows, got a reprieve, are at least happy i imagine not going after credit

cards because they don't interface with consumers, right? >> right zea so far no indication any data compromiseds. doesn't seem like it the national security concern, looking at one of the big elements of the overall food supply in the country. looking at gas supply lines with the colonial pipeline hack and now this one, you're talking about fundamental elements of the supply chain for the overall economy and the overall health of a nation. if you're looking at a potential nation state attack, you would be worried about the implications of a country that's able to get into our food supply system and disrupt it, because of all the knock-on effects after that so there is really areas for concern and you can imagine the u.s. government will want to know who was behind this and why, and how it gets resolved. as of right now, though, we just don't have that information. >> yeah. certainly a busy time to be a reporter on the cyber beat,

eamon. you are busy all the time. that's right. >> cnbc's eamon javers, thanks. speaking of global supply chains for chips, still under pressure tesla ceo elon musk noted on twitter price increases on its model 3 and y due to raw materials, shortages industry-wide. over the weekend, pat gelsinger warned shortages on chips may not end anytime soon. >> while the industry taken steps to address near-term constraints could, take a few years to address shortages of foundry capacity, sub streets and components. >> interesting there's a piece in the "journal" last couple of days, jon, about the degree to which, say, the southwestern united states has become a, a playground for new construction of increased manufacturing capacity which is great news, but probably it won't be great news for at least a year or two. >> well, i mean -- once people

know something's coming, the economic activity tends to ramp up you can bet arizona already enjoying this. maybe new mexico some, too, deirdre, but, you know, the chip industry, everybody's affected by the shortages amd had announcements over the weekend. a smaller player gaining share perhaps not as much a concern for them. >> right certainly the auto industry hit among the hardest. jon, a question you often ask, manufacturing takes here, how do we know we won't get an eventual chip glut? a year or so down the road but an important question we continue to ask. carl >> yeah. look at the hotel business a classic example of a great pert overbuilding and historically paid the price. see if these cycles will be as dramatic as those. >> yeah. we will. home sharing now, all the rage. meanwhile, guys, spotify and three other companies to watch

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she's the number two tennis player in the world and the highest-paid female athlete on the planet, but this morning four-time grand slam champion naomi osaka has sidelined herself from the french open, and in the process she is helping spotlight this worldwide conversation about mental

health nbc's molly huntress is following this story for us from london molly, tell us about this decision to step away and what she is sharing about her own struggles. >> reporter: hey, craig. right. so before the tournament ever started last week, naomi osaka took to twitter and said she would not be taking part in the mandatory press conferences after the matches. over the weekend as the tournament got under way she followed through she missed conferences, so she got a very stern warning from the organizers, threatened expulsion, suspension from future grand slam tournaments and she was slapped with a $15,000 fine last night, craig, she put out this statement take a look at this. i would never trivialize mental e utis or use the term lightly thtrh that i have suffered long bouts of depression since the u.s. open in 2018 and i have had a really hard time coping with it she goes on to say she is introverted she often wears headphones because it helps dull her social anxiety and she talked about the nervousness she gets in the post-match press

conferences having to answer questions from the world's media. pro athletes were fairly split some say actually when you make $55 million a year, when you have millions of dollars in endorsement and you sign contracts, this is part of the deal then you have a slew of athletes who say, we feel for her serena williams says, for example, exactly that. i feel for her everyone handles it differently. you have tennis legend billie jean king who calls her incredibly grave coco goff says i admire your vul nir ability. i like this from steph curry, you shouldn't have to make a decision like this, mailings respect. as you say, it is sparking discussions not only about the obligation of pro athletes in 2021 when you have social media and you can speak with your fans and the press 24/7, but about powerful women speaking out about their mental health. all we know now, craig, is she is going to take time away from the court. i don't think she is done talking about this whether we will see her at

wimbledon next month or at the olympics where, of course, she would be one of the most high-profile athletes for japan at the olympics, we will have to see. >> molly hunter, thank you that will do it for me this hour andrea mitchell reports starts next do you struggle with occasional nerve aches

in your hands or feet? try nervivenerve relief from the world's #1 selling nerve care company. nervive contains alpha lipoic acid to relieve occasional nerve aches, weakness and discomfort. try nervivenerve relief. ♪ ♪ one more thing before we go. today zoom slated to report results after the bell shares are more than 40% off their highs as investors continue to watch their growth rate the big question for zoom, guys, will they beat expectations today for the ninth time in a row. carl, even if they do, is it going to matter? the expectations have just built for these companies, these darlings the momentum plays of last year. i think investors are really

going to be looking at hybrid products, zoom room, zoom phone, zoom events that are supposed to carry it past, beyond the pandemic >> yep i mean the narrative, jon, of return to offices is obviously and obstacle for the company kramer's point has been that zoom needs to reinvent for an era in which you use it but not the way we used it last year >> yeah, i think, dee, you said it with the last part about those other products i think zoom is having their iphone unit sales moment remember when apple stopped reporting iphone unit sales and started pivoting investor attention to services growth instead? what's zoom's equivalent of that going to be, to stop people from focusing just on overall raw growth and perhaps to something that focuses more on enterprise, adoption, growth, hybrid, tying into events, larger total addressable market that, carl, might be the way for them to go and maybe maintain

some multiple. >> yeah. we're going to watch obviously -- >> that is what everyone is looking for. >> yeah. i was going to say, given the diet of earnings, not a huge diet obviously since we're really in the middle of earnings or between earning seasons, but we will get zoom tonight and hpe, and then spelunk and broadcom and docusign later in the week, jon. so maybe a little more granular data on how the companies are going to grow in obviously an environment that has changed dramatically in the last couple of quarters. >> yep, carl and how they adjust the story, once again >> meantime, guys, we are seeing the nasdaq continue to underperform the first day of the new month, continuing the trend we've seen for most of the year certainly a change from what we saw last year. >> yeah. of course, the week will be pretty packed with data as well. we will get ism services on thursday, the jobs number friday

obviously as well. by the way, a reminder that the note works of nbc universal begin celebrating pride month this month and what it means to be authentically use we hope you will stay tuned to cnbc to see more on how pride is universal. let's get back to headquarters and "the half" >> thanks so much. welcome to "the halftime report." i'm squcott wapner. why some still say a correction is coming. we debate it with our investment committee today. joining me, stephanie link, stiff annie mcghee, joe terranova, josh brown, jon najarian good to see everybody today. let's go to the washington and check stocks the dow and the s&p briefly trading above the may 7th closing high nasdaq has gone negative s&p is holding on by only by three points dow is more than half away from the best gains of the day, still go