900 dollars a share. slightly lower today phil good to see you thanks. that will do it for us on "squawk on the street. "techcheck" starts right now happy friday wb to "techcheck." i'm jon fortt with carl quintanilla. big earning movers this hour lyft and doordash, while warner brothers recovery plummets ceo of the trillio and godaddy as we see most important results this hour. >> jon, start the feed with the jobs number from this morning. far better than expected, you may know by now. 528,000. best gain since february unemployment falls to 3.5. pretty much lowest since february of 2020 wage growth higher up more than five year on year all data silencing fears of recession. at least for now leavingfor -- bracing for my rate hikes.

here to break it down, mike santoli, and interesting to hear jan hatzius stick with gold for 50 at september. >> still debating. 75 looks more likely but a long way until the fed meeting third week of september. interesting the last couple weeks, you've really not gotten a lot of fresh data that said recession is more likely than we thought. even though a common sense out there that the rally we've seen in the et kuwait market is mostly about the idea the fed would come off the tightening campaign and get easier. it's that in combination athe idea maybe a soft landing a a little less of a long shot than we thought before. all of that stuff mixed together means today's number has been mostly an occasion for rotation within the market. you've seen some of the big disinflation plays in growth come off, and then we have energy up and we have banks finally coming awake right now, pretty palatable

reaction, i guess you'd have to say, if it holds this way. >> mike, i know these thing, never simple we try to exemplify. run the risk oversimplifying but i thought a big part of this rally in themarkets was based on the idea the economy was cooling itself off so the fed wouldn't have to do so much the job report suggests the economy may be not cooling itself off as much as some would have hoped so now what is the soft landing thesis within that >> right it's certainly not really coming directly out of the jobs number. this idea that the market is decelerating in a profound way i think you could lean on the idea that it's still a little lagging indicator. you see job openings come down dramatically there's been this idea of this immaculate loosening of the labor market that may be possible meaning you attack op jobs and leave the filled jobs unharmed

pretty much a stretch, i think historically saying that that will happen. that's what numbers told you already. if you look at things like some of the consumer numbers have cooled a little bit. certainly business risk appetite seems like maybe it's wobbling, as you talked about cost cuts and productivity measures. then the treasury yield curve, if you believe that has some kind of cyclical wisdom in it. telling you the economy is decelerating look two quarters of negative gdp on first look. not a mirage but also not really that decisive where we are in the cycle, because nominals strong and a boom coming into it, some bulls reminded me of people who like to line up early for concert tickets. thinking was, they'll be a pivot one day. >> right, we want to be first in line we're going to line up early now we might be finding out the club doesn't open for another three months i don't know. >> yeah. >> what happens? >> cold waditing for it a chance

moment of the debate when there's might be a pivot, what we really are arguing about was the first half of 2023 so we still were pretty much figuring the fed would be in tightening mode to somewhere degree or another through end of this year, but i think the bull case was, we're in the general zone of a neutral rate and most importantly, the companies reporting results did not give you brand new reason to be worried about the state of the cycle and consumer demand. moderation in profitability rather than it falling apart all at once. >> actually a good summation finally rounding the bend on the busy earnings season mike, stick around a couple gig economy names beginning with doordash. shares higher delivering a beat across the board guidance in line with expectations similar story for lyft, coming in above consensus for q2. miss on q3 revenue guide, doesn't seem to hold back the stock up almost 14%, jon on

heels what uber said about investment great possibly down the road shareholder returns, a lot more? >> yeah. certainly a lot of concern about lyft got to say, i'm impressed with doordash overly impressed, of course. a big question about the macro impact on demand seen so much come down in ecommerce. post -- i don't want to say post pandemic who knows when we'll be able to safely say that but at least thick of the pandemic and lockdowns. ecommerce in general came down demand resilient at doordash, orders growth accelerated to 23% year on year that's something, able to keep that up, carl. you know they're not all the same >> what do you think, mike reflect what you think on a macro level? >> some kind of equilibrium, i would say. able still to grow in this general top-line way without necessarily proving a whole lot as to whether the business model is going to bear fruit

yeah looking. 11 months ago, 2022 doordash results supposeds to be a 16 cent loss per share. right now minus 140. right? a lot has happened in the last 11 months to say, okay's thought it would get better much more quickly. i think you could say from a macro read it through, not bad should be loose labor market plays. drivability left a bright spot multiple job holders, a feature of these labor market reports. that's probably to the good. i still think, though, we're in wait and see mode in terms whether you can just trust that the profitability is going to be there, and the stocks tell you that look at doordash since ipo lyft the last two years, a crash and tentative recovery at the tail end of it. >> yeah. like now with these jobs numbers, i'm not sure how to interpret driver availability given the -- >> i know. >> more driver availability because of labor market is tight in some way?

i don't know that's a puzzle. >> they are -- you know, they obviously are the -- you know, that sort of marketmaker of, know, mediating between demand for rides, which means people working is helping also availability. there is a mismatch between, no the to get too kind of focused on the details, but this mismatch between the total non-foreign payroll numbers and household survey, some think multiple job holders could account for some of that add a job same person who has a job, still employed and were already. why it doesn't affect the household surveys. >> button it up and be wonky as well, the involuntary part-time member was also higher, meaning people were wanting to work more hours. maybe they were driving for doordash, lyft and uber. thanks another name on the move, bloc recouping. let's see. most of its earlier losses, now down a bit again kate rooney joins us with a

breakdown. kate >> hey, jon. yeah jack dorsey's payment company reporting a loss third quarter in a row profitable a year ago this time. square merchants missed wall street's consensus katargets. growth slowing executives said spending stable through july not seeing enough tick in delinquencies either perhaps buy out pay later business, cfo on the call saying they're adjusting. saying block is pulling back on spending, slowing hiring and getting more kebtive on underwriting cfo, we recognize the environment changed prepared to adapt and maintain discipline in block saying its focused on demonstrating greater near-term profitability agency we head into what could be a more volatile macro environment analysts reaction this morning, a little mixed jeffries and rbc cheering spending cuts. jpmorgan saying, that suggests square is bracing for potentially weaker growth.

wedbush pointing out fears of competition with pfizer and talking about exposure to the consumer end small business. analysts have questions still about how those groups will hold up with high inflation finally, guys, crypto. block's pick profit down 24% from a year ago. also took a $36 million loss on bitcoin holdings back to you. >> how difficult was the messaging from block, do you think from paypal? both talked about being conservative, maybe cutting some costs. just sort of in an interesting position with block now on a market cap basis a little less than half where paypal is? >> i say block's messaging, jon, more subtle. paypal really came out with a turnaround strategy, backing of elliott. an inflection point for paypal block, a little more subtle saying slow down on things like discretionary spending wasn't total turnaround plan basically what we're doing is

working. here is evidence what we're already doing in terms of both companies are slowing down hiring, for example. they seem to be a little more cautious on what they need to do, but both are focused on near-term profitability and those days of costs and spending to growth, seem to be for all of these companies. >> back to basic block thanks. >> luove it. >> amazon sweeping up competition buying irobot, valuing roomba vacuum maker roughly $1.7 billion including debt this acquisition, latest for amazon after last week's nearly $4 billion deal for primary care provider one medical but the question remains, what's the impact talk to amazon and on irobot a product that it puts out i spoke with ring founder in april. he praised amazon's takeover of his smart home security company

saying it's largely allowed ring to operate independently providing a supply chain boost. >> it's been four years. actually a while i think we've actually got to a good space where there's things we do nimble and fast and able to do those, and then there's other things that amazon, it's great. we get a lot of operation's efficiency from vertical integrated with amazon done that. kind of, i think reached a good balance. the team that came over with ring, which i think if you get a kpi of, like, what's a good acquisition versus bad after four years you see almost all the team is still here our attrition is probably less than it was before even the acquisition. >> interesting detail. joining us now with her outlook on this deal, "wall street journal" senior personal technology columnist and cnbc contributor, and emmy winner i like saying that. >> every time. i love it. >> every time, yeah. it's interesting

also i talked with nick weaver founder of irrow back in march similarly both made a decision to sell based on a need to scale some uncertainty in the macro environment. it's a good time to be big, if you're trying to build hardware. >> yeah. hardware is hard and in fact when i heard this thinking, 1.7 for irobot, for roombas seems kind of small. sort of low. given that they are basically the entirety of the robot vac yooum market for amazon a no-brainer in the sense hits on two things they are very interested in one, smarthome two robotics saw this, ereviewed amazon astro robot a couple months ago's not out for everyone to buy but a test for amazon and a clear indication the company wants to get into home robotics in fact, i hit on that thing hard, because it just sat around i actually said in the review, why doesn't this thing vacuum

floors a really nice synergy what they're planning to in robotic what they're already doing in smarthomes. >> anice r2-d2, 3 cpo, cheerer one doing most work. also drone robots that fly around your house doing security are we beginning to see sort of a product portfolio here i'm not really seeing as much of it the full thing at retail yet maybe because astro hasn't gone big? >> yeah. i think have something great the clip of the ring ceo looking at what they're doing. they have independent silos that hit on the smarthome the goal, all work with alexa. haven't seen a lot of synergy. ring doorbell, earirrow and different things but talk to alexa platform cements amazon's

role in the smarthome and amazon key, right have your amazon package delivered to your garage or one of the doors in your house all sort of motivating towards this goal of amazon controlling the entire home. >> interesting congratulations, by the way, joanna i wonder given what logitech and bestby and home good stores said, consumer is done spending on the home. filled with that now about going place. how does that fit in that macro environment? >> i have been having the same thought. es esspecially buying things and tons of supply a hard time buying smart blocks. certainly categories seeing a slowdown from people are spending more on travel and getting out of the house the fact they can't keep up with demand because supply isn't back the thought of the roomba. it's a long play for amazon getting into robotics. previous hires not only gotten

past ip from companies but the tech, aqua hires irobot, roomba, doing it for years even before there was a "ihome." >> and you check out these products any good particularly roomba? getting better amazon should leave them alone or do they need help >> they'll error good. the question about big tech and questions about privacy's what roomba did well, roombas do really well what the astro has done well too. maps your house. knows exactly where things are looking at it here knew exactly where my son was, you see there. knows where it needs to go see parts of the house knows exactly if something's closed how to get around it. do you want that data in hands of amazon? a big question for new buyers, the question for regulation. but in terms of tech there,

melding those two, right amazon working on in its robotic flag and roomba has had and many years of robotics, that's a prit y pretty killer combination. >> wow see how they work it out joanna, thank you. >> thank you. cloud player twillia heading in opposite directions this morning. more on the results from both names when we sit down with the ceo of twilio after this break "techcheck" is just getting started.

check on cloudflare jumping double digits beating on top and bottom lines and bucking the trend, disappointing guidance this season raising revenue forecast for the year heard firmly above the street's expectations shares up more than 20%, carl, and prince saying, matthew prince saying that things are stabilizing after being concerned about the macro. that's different >> yep there's a couple different takes on variety of issues this morning, jon of course, one software name flares up and another comes

downs. watching twilio, down double digits despite beating the street second quarter after current quarter guidance comes in below expectations. and steeple and atlantic down graded to neutral and cut targets by more than 50% joining us to break it down tillio's co-founder and ceo jeff lawson grateful for you coming on good to see you. >> thanks for having me back on. >> so the street's kind of absorbing the macro picture, makes sense. the other complaint, a longer than anticipated transition to higher margin product. which of the two do you think is the more powerful dynamic? >> you know what always said the point here is to grow our business and capture a lot of market in a very exciting, fast-growing, very big software opportunity to do so with profitability in calendar year 2023 growing top line incredibly fast 41% growth rate from the last

quarter, and we beat on profit and we continue to affirm that in 2023 for the year we are targeting profitability, which is what we've been telling investors all along and we are laser focused on that goal >> do you need to wait for a macro to turn around >> i don't think so. we're looking at the mack kroer trends going on. not seen a broad based impact or demand in our business so far. seen certain categories that have seen a lot of strength in the environment. financial services, i.t. we continue to the see strong usage-based demand in these areas and while we do model a wide variety of macro economic outcomes, we are looking at various things that could happen in the economy so far we haven't seen broad based impact. >> jeff, great to you have on again. so talking about profitability through slowing hiring, shifting to remote first. some -- some real efficiency

sort of moves. alongside that, what are the industries where your customers are really seeing demand that's durable in this environment? you know you are famously working with uber from way back, and we see that the ride-sharing and delivery names are a bit stronger than some expected? >> well, i think the way that we look at it is, our customer engagement platform helps our customers build great durable relationships with their customers. if you think about it, a company building a customer base, they have to do two things incredibly well acquire customers efficiently. during the lifetime of that customer sell the cust more more things and create more value that equation, acquiring customers efficiently. our platform helps do that better a great story of dominoes pizza, increased efficiency of ad spend by 700% using segment customer

platform acquiring customers more efficiently on everybody's minds, and growing over time lifetime value that platform also unlocks the ability to do better personalization, better marketing to their own customers, provide better service and support, providing better product experiences those all increase lifetime value. so this combination of lowering customer acquisition costs and increasing life time value of customers is what's on the mind of pretty much every executive i talk to. i think there's a lot of relevancy across every industry you imagine for the kinds of things that twilio offers with our customer engagement platform it is. so is omni channel, especially because this sort of ecommerce-only approach, even during the pandemic, it wasn't only, but ecommerce led approach seems to have faded off a bit. if you're really moving towards being a customer engagement flat form writ large, what's does the

in-person experience, tieing that back into being smarter about data, how does that play into it? >> that's a great question in fact, we had a fantastic story from a bricks and mortar and ecommerce retailer this yaur fortune 100 retailer who is adopted twilio flex. or contact center platform, to help bridge the in-store experience with the virtual-store experience across voice, messaging, video's be, chat and more. really build one profile of their customer that spans through in-store activities and ecomecommerce all to serve custs better across sales and service the whole life cycle companies are getting smarter. before pandemic, mostly in-store and separate ecommerce thing in the pandemic, it swung a lot to the commerce side and now people are saying. okay we've got ecommerce that's grown

bigger people returning to stores how do we bridge these together and create a holistic experience and treat you as one customer? a great opportunity for twilio and our customer data platform, cdp is is designed for in-store purchases, online purchases, customer support, parking interactions, merge them all together into one profile letting you do smarter personal, better, smarter about your customers. >> jeff, one thing i'm not hearing from you what we've heard about in a lot of employee memos, dark times ahead. we got to be smarter on staffing, nimble productivity needs to improve. bankly the hunker-down mentality. as a tech ceo what do you think when you hear of memos from other company thies that reflect that >> that is the truth

ruthl ruthlessly projecting, slowed down hiring, closed several oss frankly weren't getting used at the same rate as before the pandemic we are very focused on efficiency making sure that every dollar we spend is going towards building durable growth and ultimately towards profitability in 2023 for twilio we are cautiously optimistic about the demand environments and what's going on in the economy. we are seeing continued demand for our product, which is great to see, but also very much aware of the various things that are going on in the macro environment that could change that situation so like other tech ceos we are laser focused on efficiency, on ruthlessly prioritizing our most important priorities which for us is our software layer, and growing that software part of our business, and profitability in 2023. >> jeff, really good explanation of where the company is. on a day, coming on whether the

quarter is good or bad great to see you jeff lawson, twilio. warner brothers discovery shares slumping more than 16%. why? what the company plans to do with hbo max is next stay with us we're back in two.

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good morning kristina partsinevelos, here's what's happening this hour jihad group is threatening to act revenge. seven dead 40 wounded. israel estimates around 15 people were killed the attack comes amid rising tensions in the area, raising fears of a larger military conflict. two of the people injured last night by a lightning strike near the white house have died they are identified as a man and a woman in their 70s from wisconsin. two others remain in critical

condition. the white house says it is saddened by the deaths and praying for those still fighting for their lives. president biden is celebrating this morning's report that payrolls grew by 528,000 and the unemployment rate foley 3.5% last month in a statement he says it shows his economic plan to rebuild the middle class is working. while acknowledging there is more work to do. just minutes ago the white house announced on monday biden and the first lady will go to eastern kentucky, which has been hit by massive flooding. guys, back to you. jon? >> kristina, thank you. and one name surging, carbona. the beat, the company selling more cars this quarter than last stock up 40% earlier in the session. up more than 30% now but heading into the report stock was down 80% for the year as of july one most shortest stocks with about 40% of it's float pledged short

according to a partner group res reminiscent of coinbase earlier. >> and double and still down 88. big week for streaming warner brothers, discovery, unveiling a timeline for max hbo plus discovery service and biggest laggard on the s&p although because it ran up into the print, only about the lowest level since begins of the month. julia boorstin has more on the story. good morning, julia. >> that's right. shares down about 17% right now. warner brothers discovery ceo painted a grim picture what he called "additional unexpected challenges ahead." up against threats of inflation and a recession, amid a billion and a half in streaming losses in the quarter, zaslav laid out new ways to try to make money woshing to roll out combined hbo max discovery plus service starting next summer, they are

exploring a free ad-supported version. though also working to license more content externally, and they're going to try to preserve the theatrical box office and say they won't rush content on to the streamer. wells fargo downgrading warner discovery. equal rate warning, "assets of great but capital creates a greater range of outcomekcome succeeding in streaming is hard enough we prefer doing it without the adding baggage for now." and jpmorgan to underwrite pay tv declines continue to be a substantial headwind and evolution of the film industry is more uncertain. speaking of 9 film industry. amc shares are down on quarterly results that were pretty much in line with expectations we see down about 4%, shares the company issued a special dividend to reward the investors. the ceo was bullish about the future of mothers.

to his credit hearing more from media companies wanting to protect the box office and theatrical window. >> interesting jessica reif ehrlich talking about warner brothers discovery. her general point that she didn't bring numbers down quite enough that at&t handed them a bit of a hot potato interestingly, if they can get past balance sheet pressures, they have potential to be arguably, she said, one. most influential streaming companies in the world >> yeah. what she's referring to, really, is the combination of these assets as we look at the evolution of, what is the streaming landscape? what are we talking about? we're seeing a shift away from a la carte services. just want disney plus. you just maybe want espn plus, to these bundling. seen it with disney. reporting next week an idea pushing consumers towards a bund's, espn plus, disney plus and hulu warner discovery has advantage of, they have all of that

content that's the reality tv content, hg-tv, cooking, from discovery plus if they bundle that together with a premium hbo, hbo max content they could really have enough of a variety of content even throw in cnn in there, that live news, to make that a new kind of mini bundle. we're really seeing a shift towards these mini bundles the question, how many of these mini bundles are people going to subscribe to and how much will they be reliant on advertising to make sure that they're profitable >> julia, struck by yet another evidence point in this sort of unraveling of the idea of a la carte as a savior. high-quality content on tv delivered to direct to consumer kind of eliminating the need for movie theaters ob n one end. because consume kers willing to pay a subscription, eliminating

ads. coming on, cut the costs investment won't be worth it get disciplined in a different way am i reading that wrong? >> no. i think you're right there i think what's interesting about what zaslav said trying to repudiate his predecessor running the warnermedia assets and said the decision to put all of their films direct on streaming is not something they want to continue with going forward. they want to make sure they have the theatrical out of the wind and instead of putting all eggs in the streaming basket they warrant to generate revenue from licensing constent seen the media companies move away from. exceptions like sony sony has been the arms dealer, they like to call themselves, for these streaming wars we've seen warner discovering, others, too, saying let's keep best content and focus best content on our streamer. zaslav's same, need diverse revenue streams and it's not

just about our streaming service. >> things going in cycles. thanks. meanwhile, shares of digital medical players, plunging this morning. more on this as the outlook and the rest with cpo after the break. don't go away. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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check in on healthtech shares of domt imty plunging after the company slashed its full year guidance

slowdown in up sales account for 10% to 15 % of revenue, a head wind joining us for an exclusive interview, doximity coo jeff tangney. interesting. a large share of doctors and nurse practictioners on your platform, but something is going on pharma spend an issue here >> yeah, yeah. thanks for having me, jon. tough day. beat yesterday in revenue profit but had the to lower our top line by 6% yeah as you say, we work with all top 20 pharmaceutical companies and all top 20 hospitals at doximity, helping to digitize practices with telehealth tools, esignature schedules keeping up on latest treatments surprise for us, health care known to be recession resistant. we still expect to grow 25% on the top line, we were surprised by a bit of a slowdown, a macro

headwind in this quarter seems health care isn't immune to macro but we're fully vaxed as a 6% top line hit is less than some other industries. >> tell me about plans for diversification in your model as well a lot of that tilted towards marketing. also things like recruiting challenges within your customer set. where are you growing, where are you investing? is your plan to stay largely structured as you are? >> yeah. no a great question actually, the bright spot this last quarter for us was actually our hospital business, around recruiting, as physicians are getting back on planes, going out, catching up on deferred maintenance the past few years and we're proud to help doctors with that, finding best opportunities as they find their new normal also great with hospital clients with our telehealth product, which has over one-third of all u.s. physicians now on our enterprise platform and did over 200,000 telehealth polls per

workday this past quarter. our bright spots on the fpharmaceutical side there's belt tightening. they're not midyear, they're end of year. a 6% hit to our top line and bottom line is strong. expecting 43% ebitda margins for the year and did $43 million in free cash over last quarter, nearly half our revenue. >> jeff, ekkeep hearing telehealth, the trend spiking upwards during the thick of the pandemic but it's actually come back down. people are going in-person back into offices are you seeing that with how your technology is playing out, and to what drip are you investing in a future where you expect telehealth to spike again or grow significantly? >> well i mean, we're still hiring investing a lot. we think health care has a long ways to go in digitization

telehealth, the left quarter actually our first quarter in the united states we hope is a new normal no major outbreaks or lockdowns. we saw a slightly upward trend in telehealth visits over 200,000 per day in the quarter. we're seeing working with telt telehealth, no the first visit but follow-on visits when they see the doctor for that up front visit that follow-up visit is much more convenient saves the fasht a couple hours of drives and waiting in a crowded patient waiting room to just do that 10 to 15-minute check-in visit via telehealth. we're seeing telehealth, i think, continue to grow among this main street hospital and clinics. >> well, an important trend to watch for sure jeff, thank you. ceo of doximity. thanks. meantime, cryptocurrencies,

bitcoin and ethos, every crypto exchange, not just coinbase is being investigated by the s.e.c. that from a staffer. we'll watch that story after a nice run for crypto in general dow reversed losses. once again down 120. if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance plan from unitedhealthcare. medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays,

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take a look at shares of global blood they're tootices

surging 10% on a "wall street journal report" pfizer is in advanced talks to buy the company for $5 billion drug company makes a sickle-cell d.c. drug recently approved. we'll watch that story. >> and carl, thanks. meanwhile, a gut check on expedia. that stock in the red despite a q2 earnings beat strong summer demand driving lodging bookings to record numbers but amid concern lodging rates only up 3% competitors like airbnb showingh we'll watch that "techcheck" is back in a moment. if you wake up thinking about the market and want to make the right moves fast...

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delivering huge earnings, go daddy in line with expectations, up 9% year-over-year but lowering guidance, let's bring in the ceo, good to see you. watching overall e-commerce trends, what shopify reflects it seems like direct to consumer is going through a difficult time where some skill players like amazon are doing better. what are you seeing from your perspective? >> our customer is the micro business customer over the last year or two we started offering

e-commerce services and commerce on the internet is the biggest opportunity for them. so we see that continue to adopt commerce services and we are making it simpler for them, launching new products that allow them to take payments online and a super simple way, the latest product allows them to do it without signing up for a website. >> applications and commerce is going fastest but i'm wondering what's driving that? amazon seems to be doing overall particularly well, you have challenges doing targeted advertising based on changes with apple and google that they are doing or planning or to do. how much is it a big company toll that direct to consumer companies are having to pay and how are you helping them past that? >> we are so early in the cycle for micro businesses and these folks are resilient, it is no matter what the economy is

bringing over the competitive pressures are. for many of them it is a new opportunity and because it is so early even though e-commerce as a whole is coming back to the natural curve it is still a new opportunity. a year or two years ago e- commerce for them was zero so even if it is down for some verticals at for example services do quite well year- over-year which is great for godaddy because we lean on service more than product based solo service businesses have built online presence and it is helping them year-over-year as well. >> how are you thinking about the pace of small and medium sized business creation? in other words, if we get a new wave of layoffs particularly in tech to those engineers start a business of their own and then come to you for service? >> looking over the last 20 years micro businesses are formed in good times and bad

times, we have data going back to the great recession where similar things happen with a lot of micro businesses formed. our customer is the micro business customer. they want to make things happen so we will see them in bad times and we will see them working hard to make their business grow and we provide them seamless intuitive tools, the human care which we get on the phone with them and help them grow their business. good times and bad those micro businesses will be formed and they perform really well, one of the data points i have shared in the past, delivering 1.9 billion in revenue over the last 14 years and that was a bad economic time. >> i assume that's going to be felt most acutely in north america, what about in europe where the macro pressures are arguably stronger to the downside? >> i talked about it at earnings, we did see more pressure in europe and we are

hopeful that things will do better in europe but like you said the economy in the united states was strong, 12% growth in the u.s. and in europe how do we support customers and make it simpler? we are hopeful some of the macro factors will make it easier. >> reflecting challenges and opportunities for all businesses , ceo of godaddy, thank you. >> the biggest gainer on the nasdaq up 36 year on year for the quarter and executive forecast growing even in a recession environment. we are back after one last break. stay with us

one more thing before we go, the latest on elon musk, the legal battle between tweeter and elon musk. >> are recalling it now? twitter responding to elon musk counter suit filed last week, the unsealed late yesterday saying that twitter concealed

the number of inauthentic accounts and the number of users who see ads accusing twitter of fraud, twitter responding to the allegations in a 127 page filing saying that the story that he was hoodwinked into signing the $44 billion merger agreement is as implausible and contrary to fact as it sounds, they say he is just trying to get out of the deal after the stock market and his own personal wealth declined in value. last night at the tesla annual meeting elon musk waiting on his interest in twitter. >> in the case of twitter, since i use it a lot, i shoot myself in the foot a lot. i dig my grave et cetera but you know i think, i do understand the product quite well. so i think i have a good sense of where, where to point the engineering team with twitter

to make it radically better. >> twitter shares were downgraded on the pending takeover and all the associated disruption but it is worth noting twitter shares are up more than 1% this morning. >> a tweet yesterday saying that the claims are factually inaccurate, legally insufficient and commercially irrelevant. i guess i'm wondering how are viewers supposed to process musk's complaint if you have read the merger agreement? >> what is so interesting about the 127 page complaint is they quote directly from what musk's lawyers are saying and then they refute the arguments, they say they are looking forward to the trial set for october 17th so twitter reiterating how confident they feel in their case and the way they laid out everything in that filing was

particularly notable because it's like here is what he says and here is the response. >> julia, thank you. john, for next week we talked about cpi, along with quite a bit of retail, home depot and walmart getting us started beginning tuesday. have a great weekend. let's get to the judge who is in the house. >> thank you very much to the halftime report i am scott wapner and front and center the red-hot jobs report, what it means for this rally. we will be asking tom lee in a little bit, with me for the hour, let's check the markets as we get going at 12:00 noon in the east. reacting to the jobs report we are down across the board watching yields the 10 year 285.