lower. here on this friday morning. nasdaq higher. that will do it for "squawk on the street." "tech check" starts now. ♪ >> happy friday. welcome to "tech check." carl and deirdre are off today big day for enterprise earnings interviews with ceos as a couple stocks rocket higher plus apple hits pause delaying the rollout of the feature to scan devices for child sexual imagery and then a sharp rebuttal from robinhood on payment for order flow hitting back arguing they're the ones on the side of the consumer

more on those stories ahead. we'll start with the trio of earnings movers. hpe, all out with results. the veteran in the space hpe, only company to report profit. management warns and raised prices in response to the shortage younger companies both huge growth stories revenue up 33% and 44% respectively both surging higher by double digits seismic shift to the cloud evident in other earnings. broadcom beat on top and bottom line this a day after asana saw the stock surge 15%. we also see aglassion up around

3% in that collaboration space the smaller, nimble companies in the enterprise looking to enhance both the way engineers do business and the way the data center runs in the case of pager duty doing quite well. >> yeah. i would say, jon, all of these stocks the success points to the fact that the pandemic kicked off an acceleration of the cloud and digital and more accessibility of that data some of the tools really engabling companies to better access and analyze the data and speaking to where we are right now. if you think about how much the world changed before the pandemic and not going back, right? >> yeah. and expectations play a lot into this we talked about c3 ai this week.

had them on with google cloud. that's a stock that rocketed so much out of the ipo. it's had some tough comps just sort of month to month pager duty on the other hand talking to jennifer tahada in the hour, these results put pressure on those who wanted to think things were going to the downside. >> we have got a great lineup of ceos today to talk about this. starting off with enterprise software player hpe which reports earnings last night with third quarter revenue of 6.9 billion. but a beat all around for the company and raising guidance with us now is hpe ceo antonio neri thank you for joining us break down the underlying trends of the business. there's a divergence between the various divisions, the younger,

smaller withins growing fast >> good morning, julia thank you for having me today. i think we have an impressive quarter on all metrics we grew revenues but most importantly we have very strong demand the agreeing businesses are humming. intelligent you know 23% data driven businesses up 9% our as a service as a long-term star for the transformation as a company grew 46% in orders our core businesses did well stabilize despite the supply constraint and also had single digits growth in demand. all in all, we see strong demand in the market and improve profitability quite significantly. which also translated year to late in a record breaking cash flow and pleased with the

performance. the strategy to become the platform company is in the market. >> antonio, pretty dramatic shift towards that as a service business very impressive shift there. as you look at demand and supply constraints tell us about the outlook going forward. what is the outlook especially with supply constraints? >> from the demand perspective we continue to be very bullish when you think about the way we work today we see demand in secure connectivity, demand cloud everywhere where the cloud experience not just in public but the edge and we see a big demand with everything around data insight so that's why our age to class strategy is perfectly positioned for the trends going forward

from the supply perspective we go through a patch here to take probably another two to three quarters to get out of it. we have done a lot of work mitigating the challenges which we started last q4 2020. the levels gone up 1.3 billion and working with the suppliers but we have a point of differentiation. the engineering team is the best in class to be able to swap components and be able to mitigate the challenges. but all that said, we factor all these challenges in guidance and why we said in q4 we are very comfortable with the consensus on revenue we believe we have upside and same time we think about the 2022 is going to be a very strong i.t. buying cycle. >> tell us from the strategic point of view heading into '22 and even beyond, is there going to be more leaning toward m&a or

more leaning toward partnership and dpen edependency on the channel. they're trying to pay up for younger, nimble companies to integrate or partner up and get to market using the distribution of others in the channel. >> jon, i think it is a combination of three things in my mind as i think about innovation one is the organic innovation. all the plans for 2022 at this point in time has been factoring that same time you have to use m&a to accelerate the strategy. what makes sense is a return on capital. we continue to do m&a in our own portfolio. in fact, this past quarter we closed three acquisitions. data protection, ransomware, i.t. in the training of the

models and a big data analytics component for the developers and business analyst so we do both and same time you have to work within the system and that's the advantage of hewlett-packard enterprise is a crown jewel is go to market. to reach through the channel partners through distributors and sellers and the isv ecosystem and open and secure to integrate them in our strategy going forward. >> antonio, we will have to leave it there thank you so much for joining us on the heels of that earnings report >> thank you. new this morning apple delaying the announced child safety features of attracting controversy for the system to check i cloud photo libraries against a national database.

the company saying it will postpone the plans saying based on feedback from customers, advocacy groups and researchers and others we have decided to take time to collect input and make improvements before releasing the critically important child safety features. doesn't sound like they intend to not do this they call it critically important, calling this a delay. i'm not sure exactly what they're going to reconsider besides the messaging around it but there is room i guess to prompt people to make sure they understand when they connect to i cloud what they're connecting to and what scans their libraries will be subject to. >> yeah. apple has aligned itself so closely with private sy and security and an important issue and complicated one. it does seem like they'll move forward. i think coming to these issues

of the ios platform in particular it is allowing people to opt in or out but i think the direction they go there. >> interestingly people seem more worried about after this opposed to this itself right? at least that's what people are saying apple meanwhile dealing with allegations of workplace what hasment. for that we go to josh lipton. >> so far the u.s. nation allay boar relations board is reviewing two complaints against apple filed by employees a complaint of august 16 citing harassment by a manager and a complaint on september 1 saying the company repeatedly stopped discussions of pay among employees. the nlrb did not respond to cnbc but apple said we are and have always been deeply committed to creating and maintaining a positive and inclusive

workplace. we thoroughly investigate whenever a concern is raised and out of privacy we don't discuss the matters. there's up to 30,000 charges each year to nlrb. typically the agency said the decision is made within weeks. apple does directly employ more than 90,000 people here in the u.s. back to you all. >> yeah. i think what's interesting here is not so much that there are a couple of complaints because as you said up to 30,000 of these a year they're coming from inside apple and maybe this is another result of a tight labor market particularly coming to tech talent julia, usually we don't hear apple employees say much of anything but lately around who apple is hiring or apple's policies on work from home and now this, being a bit more vocal

and perhaps not afraid of getting fired. >> perhaps not afraid of getting fired and living in a post me too world and a sense of zero tolerance policy around these things and people are particularly sensitive we can't underestimate the power of technology tools themselves to enable people to talk about the complaints and to get the conversations started. i don't know if people would be complaining as much or even feeling like they could speak up if it weren't for the slack channels so that's an interesting piece of this, as well. meanwhile yesterday the news that youtube music hit 50 million pay subs and now speaking to a top exec at youtube. the first hour of "tech check" is just getting started.

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growth in the data center and software segments. stock's had a huge run this year hitting an all-time high again this week, julia and youtube announcing a big milestone. premium includes youtube's music service reached 50 million total subscribers. does include those on a free trial but up dramatically from 35 million in october of 2020. it makes youtube music the fastest growing music streaming service. and now accounts for about 8% of global streaming market share. joining us for more is youtube's chief business officer robert kinsler. we lost robert but he is going to be joining us soon. meantime we will -- oh i think we have robert kinsle. are you there? >> i'm here, julia

i'm here. >> what would live television be without some technical difficulties thank you for joining us i remember so long ago people were skeptical of the idea to pay for something they were so used to get for free explain how youtube music is positioned to compete against spotify and apple music. >> thank you, julia. great to be here i think what's truly incredible that this number is coming on the heels of our q2 earnings call with $7 billion in ad revenue and 83% year on year growth and going precisely with the question that it is possible to have a very successful advertising business and at the same time very successful and

fast growing subscription business and our pitch to the music industry and the value proposition to users has been twin engine of growth. meaning we are providing the best of what the user wants and if you focus on the user and you serve them well it shows up in the business results and thrilled to have both engines firing on all cylinders. >> but, youtube music is smaller than spotify we don't have exact numbers on apple but do you see as competing directly with those services for subscribers how much more room do you think there is to grow this service? what do you think the potential addressable market is? >> we think it's quite large to answer the first question we are not looking at direct competition because we are somewhat different consumer experience we are a video platform which

has audio subscription service combined with video so the user experience is richer so our experience is different in that regard but what we really focus on is this twin engine of growth we don't compare ourselves to anyone we are looking at the combined strength of the business and the value prop to the users and on that we feel we have very strong story to tell. >> in that way that 50 million number is an understatement considering the raw number of music videos and then lyric videos that are up there people experience music in so many ways. tell me where does music fit in youtube's business strategy both from a subscription point of view and loyalty and subscribers there and from an advertising

and engagement point of view versus the whole portfolio of content that you have on youtube. >> so actually i love the way you framed it. you said there's a breadth of content and lots of other ancillary around music which is what i have referred to before i think -- if you step back with youtube, roughly half of the watch time is creators this is a creative class and economy that didn't exist before 25% is music and 25% is media companies. the rough lay of the land so anything that reaches 25% of youtube is quite large what's happening today from music is that it's really getting consumed not just in the videos by the record labels and artists themselves but also consumed in lots of other videos that various users and creators

upload and expanding the business and why we see the music music opportunity for the industry >> i want to talk a little bit about creators beyond music. youtube is a creator of business and now face so much more comp tis whether it's tiktok or snap or instagram the platforms trying to incentive to have content for the platform and making a big push of e-commerce to get them to get the opportunity to monetize that way. how do you compete do you see e-commerce as playing into that? >> yes we love the fact that other platforms are trying to pay creators we have been at it since 2007 and share more than half of the revenue. released stats on paying out

more than $30 billion over 3 years to creators and if you continue to obviously track the earnings call and how much revenue we generate you calculate how much we share with creators so having said all that in the closed media platforms such as netflix, amazon they pay for content. we welcome others doing the same because it is strengthening the creator economy and fueling the flywheel that we're having so we like that. how do we compete? focus on the user, provide the right monetization tools there's a blog of ten ways to monetize on youtube if you're a creator. it is pretty significant suite of tools that is allowing those that now how to amass an

audience to amass the revenue. how do we provide the reach and how do we provide the monetization that rewards their work we are relentlessly been on the path since youtube has been started. >> -- expansion of that -- >> let me answer the commerce question. >> a quick final thought on commerce, yeah >> final thought is commerce is changing there's lots of movement toward social commerce that video platforms like youtube will play a role in and busily working on it to make sure that that option for creators, selling their own products or other people's products continues to draw and the audience building activity is rewarded really well. >> we'll have to leave it there. i hope you talk to us about that and more in this booming creator

economy. >> thank you. netflix on a record run. the service posting gains for 14 out of 15 trading sessions the streak the most for any 15-day period since going public back in may of 2002. the jump on the heels of apple announcing to allow them to skirt the 30% commission fee after a settlement with japan's fair trade commission. and wednesday's announcement that "seinfeld" on the service october 1st in a $500 million five-year deal jon, so much going on for netflix and the fact that there are more movies hitting the service this fall than any other th three-month period. >> first of all great get getting him on cnbc and "tech check" but 25% of youtube is

music? i hadn't heard that number before when we consider the flex in digital music across all these platforms we have to think about youtube not just in terms of this youtube music subscribers and the lyric videos but music in videos is huge. yes, we talk about netflix and the run and think again about expectations netflix had been sort of lumbering along stock wise and there's an expectation that this big content slate to give them a boost. appears to be doing that and alpha bet a similar story. pager duty underestimated different than the other stocks on monster runs all along. >> yeah. that's right but i want to return to that point of netflix and youtube for so long a sense that netflix just going to own one space of premium content with no ads and

youtube be a provider of ad supported short form content youtube is a player with not just music to get boo the subscription business and now netflix in the gaming business the bigger these players get the more they get into the backyards. >> yeah. still not convinced that youtube can do premium video subscription the way that hbo has, netflix, disney to spin up quickly. youtube is working at it for a while. that "karate kid" didn't work out. maybe there's another library to work. robinhood calls the s.e.c. d eth odronn. aoern pace for the best week since early august. week since early august. we're back in two.

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welcome back bottom of the hour in just a moment we will have some interviews with ceos of pager duty and mongodb but first a news update with rahel solomon. >> good morning. president biden admits that he is disappointed the august jobs report showed a 235,000 increase in nonfarm payrolls and says that more needs to be done to fight the delta variant and thinks that the nation's economic recovery is durable and strong. >> while i know some wanted to see a larger number today and so did i we have seen a continued growth it is not just that i have added more jobs than any first-year president -- in the first year of any president, it is that we have added jobs in every single one of my first seven job

reports sources tell david favre that the board of kansas southern will talk merger in response to regulatory problems with the current plan to be acquired by canadian national for $34 billion. canadian pacific offered to pay $31 billion. chevron's management met with the same activist firm that won seats on exxonmobil's board and david favor said they met with many other oil companies and not expected to make chevron a next target. interesting nonetheless. >> listen to david favor. shares of pager duty surging up about 11% after a strong quarter, strong current quarter guidance delivering 33% revenue growth year over year joining us exclusive ceo jen tahada you said this was coming we talked about how things were

going heading into the event early in the summer. so how does this look? is this what you expected? stronger than you expected what is coming next as far as the demand environment >> thank you for having me this mompbing we pride ourselves in being a company that does what it says it will do and thrilled with the result just the business excelled with revenue over 30% the enterprise business is seeing momentum where we now serve over 65% of the fortune 500 and excited about new user growth up on the platform and a reflection of the tail winds we talked about before. what we are seeing is the customers kind of get into the new normal they're reinvesting in strategic projects and need to deliver on the brand

experiences that their consumers are looking for and expectations are going up and bodes well for us and thrilled with the expectation this quarter. >> i try to say def ops a lot. it's companies like you and asana. tools for the people who are building software. what's the next frontier there strategically that's going to get you growing perhaps faster than the category itself is it more m&a which you have done a bit of? is it a different mode of accelerating larng customers >> you are absolutely right that developers have become incredibly influential across the business and champions for pa pagerduty and the hot talent market in the past when developers move that's historically boded well for pager duty

we see automation being an accelerating the business. and with a platform that's highly resilient at scale we are able to meet both the interest of developers and the requirements of very large enterprise so automation will be a big theme for us going forward as is ai ops and security services and customer service ops and we talked about cloud flare yesterday who used pa pagerduty and the customer service teams. we see more of that developer mind set in different functions of the business so you can expect to see technology adoption accelerating. >> jennifer, i thought that cloud flare note is so interesting. i wonder how important you think the partnerships will be going forward and how many more of them you think could be on the horizon. >> the technology ecosystem is a deep defense i mote in my view

we now integrate over 600 technologies in the marketplace to make it an easy platform to deploy and one to integrate deeply boo the organization. essentially becomes infrastructure for our customers and an area of investment of ours for years and see integrations or connectors as the gateway to work flow automation and recognize that our customers exec all of the different technology to work together seamlessly. they shouldn't have to rely on expensive rollouts and spending millions of dollars to get the platforms to work for them so that's an area offen no vags and investment for us. >> there's a fine line of buzz words and insights to understand and i think we can deliver on that i hear a lot about low code and no code and automation you have done some acquisition in the category of helping

customers to have automation in their business what's the difference to allow a company to have the insight into what customers need to do the right kind of automation and apply ai in ways to matter and get margin and higher contact dollar values over time? >> you nailed the point when you deliver autoimagination for customers it has to be easy for the user to apply and the user has to be able to see the benefit for them from an automation perspective not just the benefit from the company so when we acquire run deck to not only automate upstream by detecting incidents run deck allows us to apply automation to help you automate the response to a major incident that can shut down the business readily that automation is in service with people and not instead of people and important and really intuitive and easy to use.

and that means you will see faster adoption leading to faster growth. i think you continue to see the theme of automation but i would be looking for autd mags that users love and embrace. >> all right we'll continue to track it, jn. thank you. stock up 11%, levels not seen since growth software booming in general in january thank you. >> thank you great to see you both. a quick programming note, tonight join cnbc's leslie picker for a special on the fall reset. a closer look boo the five corners of the market that defined the investing landscape 2021 that's tonight 6:00 p.m. "tech check" is back right after the break.

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chinese stocks especially gaming companies have seen steep losses over the last few months but morningstar says there's one name in particular that's very undervalued. find out what it is on cnbc.com/pro "tech check" is back after this.

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know that the par tis pants do not speak for the 91% of california dashers that want to remain independent contractors the appeal to appeal the ruling and we'll watch how it plays out. gig companies including uber and lyft trying to run the playbook in other states like massachusetts and new york julia? now turning to another company pushing back against some of its serious challenges this week, robinhood firing back at the s.e.c. after thing a said it was considering a ban on the subsidy stream robinhood's legal chief himself a former commissioner vowing to challenge the ban in court calling a ban oin payment for order flow draconian shares faltered after chairman said the payment plan was on the table though rallying this morning on the company's

response did rally. down 1.5 srs such payments account for roughly 80% of robinhood's latest quarterly revenue we shouldn't be surprised they push back. they couldn't function without it >> not in the near term. we saw a business model for so many companies, box, dropbox, et cetera start off giving people something for nothing. get the volume and the customer base and figure out how to layer paid services on that. i think robinhood is hinting in that direction with the desire to sort of putt on a suit and offer 401(k) ds and things like that and not just risky margin trades and crypto trades that it became popular for >> yeah, jon although the question is, they lost that payment for order flow would they be able to hole on to

the customers. right? >> you have to have the free stuff to gather the crowd and plus that as you mentioned is driving the business for now. as we head to break check out shares of docusign raised the full year guidance. see it up 5% the ceo of mongodb up more than that about 25%. wow. after the break don't go away. why is it the best wireless deals require a trade-in? right now, at t-mobile we're getting rid of the trade-in headache. switch and get the epic iphone 12 with 5g on us. get it on magenta max with unlimited premium data. no trade in required. no worrying about having a phone that qualifies.

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you know what happens when adolescents come back from summer break and grown a foot? that's what's happening to mongodb stock there. seeing the boost after posting a narrower than expected adjusted loss for the quarter in a cnbc exclusive mongodb ceo dave nacheri joins us now. up 83% year over year. well over half of total revenue. give us a sense of what's normal going forward. of course there's a boost to all kinds of things from covid how sustainable is the strength? >> hi, jon good to be here. thank you for having me. what i'll tell you is that what

we hear from customers is they need to move fast feeling pressure from disrupters of the business and a fastest way to move the fastest way to move is build applications quickly what customers realized is is the fastest way to use mongodb we have 29,000 customers, some of the largest brands in the world, people like toyota, at&t, morgan stanley, verizon, et cetera as well as cutting edge start-ups and new companies like data robot and building their business on mongodb. it was the best quarter to date. >> you added 2,200 in the quarter. are there bottlenecks? what prevents you from continuing to grow at ever-faster race is it a salesforce -- i don't mean the company i mean the

people problem -- or is there a challenge serving larger customers and giving them the level of attention they need to continue to grow. >> what we told our investors is we are investing for growth. but there are operational constraints. you can't hire a thousand sales people in one quarter without mistakes and more challenges we are trying to grow responsibly but investing in two big areas, one on product to continue to expand the footprint of the portfolio and two as you mentioned in the salesforce. we have three different channels -- actually four. inside sales team, our self-serve and partner channel and we are investing in all areas because there is such a big market we're going after less than 2% of the market we have today >> i thought it was interesting that mongodb tlat atlas for government received approval i wonder how important those types of deals will be for you going forward. and what varieties of companies or government agencies do you think will be able to help try to maintain in crazy growth you've seen in the past year.

>> well, julia, we do know the government has been a long-term user of mongodb from the commercial entities to even the intelligence and defense organizations. and sots we know there is a lot of demand more mongodb for all the reasons large commercial and start-ups use mongodb. the fact we are getting ready to be available in the gov cloud and as a cloud service will unlock more opportunity in the segment. we are invested in a dedicated sales team for those sets of customers and excited about the opportunity that presents for us. >> dave, put the jobs numbers that we got this morning into perspective for a growing innovator in tech. because you're talking with the challenge of not only getting the talent in the door but then getting them up to speed quickly enough how difficult is that in this tight labor market what are the methods that are going to allow mongodb to perhaps be more successful than

others can be in solving that problem? >> yeah, so we really pride ourselves in attracting the best of the best both in terms of product and technical expertise. and software development talent as well as go to market expertise. and so we have a high bar and hiring talent is not always easy but luckily we've been fortunate to find great people we actually just recruited a new head of recruiting who is coming from amazon who knows how to scale recruiting to the next level. we're kpated for her to take on a bigger role to help us scale and for us keeping the talent bar is very, very high because at the end of the day the business starts and stops with great employees. i'm privileged to work with a great set of people who helped us grow this quickly. >> well, moving the stock like this, i'm sure won't hurt. dave, ceo of mongodb thank you. >> thank you, jon. thank you julia. and you don't have to limit your consumption of "techcheck"

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disney's new movie shang xi bringing in nearly $9 million from thursday night preview. less than black widow's $$13 million open. as the studio tries out something new. the first theatrical release since the pandemic and unlike black widow on disney plus for an additional $30 fi. this is different there. the box office will be closely watched as an indicator of demand in the face of rising covid and also a sign of the potential impact of simultaneous digital release after black widow's box office declined after the opening weekend. we're also watching piracy of this film after piracy spikes of the simultaneous releases. and theater chains are hoping for a hit with chairs of cinemark and imax both down 30% in the last three months

jon, the film has the advantage of positive reviews from critics and audiences so far. >> also got the advantage of a reunion of aqua fina and michelle yo from crazy rich asians, a different flick of course from the netflix kind of cult favorite, i guess, as well. but i think what's also interesting here with this film, julia is that it's the first marvel movie not to get at least in initial approval in china, which in a way i think shows the way the business and cultural winds have been blowing. who knows if it eventually gets the nod there. for now it won't and that will hurt a bit >> it will hurt a bit. since 2013 marvel movies made between 10 and 20% of the box office in china. china is an increasingly important market not just for hollywood but for disney and marvel in particular but that doesn't mean it won't eventually get a release date in china, jon.

>> right, a lot of things might eventually happen in businesswise in china, whether talking about movies, or education, or goodness, cryptocurrency, who knows. let's talk about this for a minute next week on "techcheck" don't miss a big interview, ceo of microsoft, satya nadella and the head of microsoft's own linkedin ryan rosranskyp belting here nasdaq in the 11 "a" hour. you can sure we'll be at a talkeding about hybrid work and approaches to the workplace but also about how software has allowed people to interact in different ways and perhaps what data and insights they are able to pull there. that's all stuff i want to know. we'll see what they bring, julia. >> i'm really looking forward to next week. and i think obviously, you know, microsoft has been at the forefront with teams and the sort of transformation of the

work from home hybrid work environment. i'll be curious to see what trends they are seeing going into next year. >> yeah, cloud, so important, we've just been talking about the changes in software. with mongodb, pager duty this hour, microsoft, of course, a much bigger company. that will do it for us for the week "halftime" starts now. yup, happy friday. welcome to the "halftime report," everybody thank you. i'm brian, scott's back next week the question really is, when do americans jobs come roaring back the august jobs number was a bit of a bust. but does it matter to stocks everybody has an opinion and we will hear them from your investment committee today shannon saccocia rob, michael farr, jim lebenthal and jon najarian co-founder of market rebellion.com. let's check the markets and your money to wrap up the week. and stocks, look at that, mostly steady on the back of the jobs number yeah, a little bit of red, down