it's 5:00 a.m. at cnbc headquarters and here's your top "five@5. why the trade could be doa for the rest of 2023. and activist salesforce, why an outgoing investor is targeting marc benioff. tesla is planning a revamp of one of its most popular models. plus what just happened in china for the first time in more than a decade sending stocks

surging. and later on in the show, more than 90% off its show why they say its future is all but certain. it's wednesday, march 1st, 2023. you're watching "worldwide exchange" right here on cnbc good morning and welcome to "worldwide exchange. i'm frank holland. we start the day kicking off a look at the u.s. stock futures right now in the green across the board as you can see up just about a third of a percent to half a percent across the board for all of these indices it was a very rough month for wall street that saw the dow and more close down for a second month. not so for the transports. they eeked out a half percent exchange also checking the bond market, the conversion kolktss on the yields as they continue their sharper move higher.

looking at the yields, the 2-year note at 2.83. the 2-year gained 60 basis points 10-year note at 3.95 right now. the sector coming off its worst month since september. this is oil. it continues to hover just below that $80 a barrel mark we're seeing wti crude at about 76 bucks a barrel and brent crude, 83 bucks a barrel sharp moves overnight higher in asia. our julianna tatelbaum is in our london newsroom with much more on that action good morning, jewel njulianna. >> chinese factory tractions

improved it. was the highest reading since april 2012 far exceeding analysts' expectations as you can see it drove major gains overnight. the hang seng leading the pack up 4 pnlts 2%. very strong gains in the tech sector in particular that's feeding through to europe as well. we've got green across the board in europe. we're seeing an easing which feeds directly to europe we've seen in terms of the european manufacturing pmis this morning supply chain pressure is easing easing it's buoying sentiment across asia and europe. frank, that's the positive handover you're working with today. >> dwrt to see you as always. let's get a check on this morning's top corporate stories. silvana is here with those. >> good morning to you general motors is cutting some 500 salaried positions as it looks to preserve cash and boost

its bottom line. the cuts which extends across saevl iryas of the company comes one month after mary barra and paul jacobson told investors the company was not planning any layoffs. "virgin galactic" will resume space flights in the coming months. the update was provided along with its latest quarterly results which showed losses roughly in line with its previous quarter and the u.s. postal service is buying some 9,000 ford electric vans and 14,000 charging stations. the ford ee-transit batteries which they plan to take delivery of this december are part of a plan to electrify tie part of its service trucks later at least one area of the

market continues to shine. it's treasuries. this morning the yield on the rate-sensitive 2-year note is trading after its highest level in at least 16 years very similar story for the rest of the short end of the curve. taking a look, we're seeing the 1-month at 4.6 rebecca patterson. >> the 6-month t-bill got to 4.5% if i can make 5% plus on 6-month cash, that doesn't seem like a terrible opportunity cost. are stocks going to go up 10%, 20% in the next six months i kind of doubt it taking a look at that -- >> there we go joining me now, head of investment extra strategy and policy, robert teeter.

great to have you here. >> thank you. you heard the comments a lot of people believe bonds are more attractive than equities we're talking about a 2-year trading higher that we haven't seen since the great recession is that changing especially after we see the 60/40 partnerportfoli coming off its worst year since 1969. >> you're right. not taking a lot of credit risks or duration risks. that makes things a lot more compelling i don't think the picture has changed much the short term here, we think, will be volable, but we think there will be gains to be had on the equity side as well. i think both sides of the 60/40 look reasonably compelling >> let's focus on the 60% part that's equities. tech's shown a lot of leadership there's been a lot of questions about the quality of leadership.

tech stocks, just across the board, high-risk assets have risen. what do you make of that do you expect to see in this last month any change of leadership >> i think leadership will remain the same and i think february has brought us some really interesting clues rates have gone higher and techs remain in leadership and some areas have remained lagging as well what that tells me is the market has done a good job of higher interest rates which is affecting the tech sector, but it's still coming to terms i think that time line is still in question for how long it will take inflation to get fully under control. that tells me we're in a mode where things will stay the same. this sector lirp will remain in place, and over the long time, horizon will fight through this inflation battle. >> speaking of inflation, february has been marked by volatility we have big reports coming up in the next few weeks we have cpi coming up and fed

minutes at the tail end of the month. how much do you see this moving the market or is the fact that we're going to have higher inflation already priced in? >> i think we're back to a very highly news dependent take on each of the inflation metric we went back and looked at the last readings. one of the things we noticed is it's not been so much about the level that's come out. it's been more about how have the numbers come in versus expectations this is maybe the way we were 18 months ago for a long time that fade and things were presumed to be getting better now we're back into a mode how the figures come in. i think that sets us up for vol till as we work our way through the critical announcements. >> we'll have to see how it turns out. when we come back on w.e.x., digging into the world of agriculture, construction, and the impact of rising dollar and the rising rates an exclusive with cnh industrial

ceo scott wine. plus moves from two names you know one of these stocks is all but certain. but first we're back at the mobile world congress with arjun on the floor in the middle of it all with the very latest. >> after the break we'll hear from the qualcomm ceo and the future of apple. "worldwide exchange" bacafr th isk te what if you were a trendy apparel company facing an avalanche of demand? to ensure more customers can buy more sherpa-lined jackets, you call ibm to automate your it infrastructure with ai . now your systems monitor themselves. what used to take hours takes minutes. and you have an ecommerce platform designed to handle sudden spikes in overall demand... as in actual overalls. ♪♪ man: i'm not slowing down anytime soon. that's why i take osteo bi-flex every day. it's clinically shown

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welcome back to w.e.x. we have big news from the world's largest wireless chipmakers our arjun kharpal joins us what have you got out there? >> reporter: the ceo of apple says it thinks it will shift to its own modems in 2024 analysts have expected it by now. it has not happened. cristiano amon spoke to us and said he expects to use his own modems for now until next year here's what he had to say. >> in our investor day, in 2021, we had said we would expect not to be providing a modem to apple for the iphone launching in 2023 they decided to continue one more year, so two earnings calls

ago we had said we expect to have our modem in 2023, and we're making no plans for 2024 my assumption is we're not providing them a modem in 2024, but it's their decision to make. >> so this year's i phone will have qualcomm modems in it, but next year's might be a different story, frank. >> so uyer ooh not just looking at wireless tech you're looking at big news when it comes to augmented reality. >> that's right. a lot of the chat here is what is going to be the next big computing platform smartphone was a huge paradigm shift in computing a lot of smartphone makers are looking at mixed reality headsets they've got some augmented glasses on display behind me i had a chance to catch up with samsung, their executive telling me they're figuring out a roadmap. i've got a partnership with

google and qualcomm and it's working on things now. there's rumors swirling that apple is exploring these mixed reality headsets they think this is where the next big consumer product is going to be and this is where the next runway over the next ten years is going to be samsung giving me an update on its latest devices, the s 23 smartphone patrick is ahead of the mobile business and says the s 23 cells are outpacing last year's floodship so far he said 60% of preorders have come from the $1,200 ultra-showing the high end of strength clearly one eye on the future from all the big smartphone favors. >> arjun, great reporting as well the turtleneck with the salmon jacket, you're killing it. >> i'm blending in with the tech crowd. >> i think you're standing out,

but you look great, man. what elon musk might say tonight and what it could mean for a stock that's already up 60% th yr.isea stay with us more w.e.x. coming up.

all right. welcome back to w.e.x. time for your big money movers we're going to start off with shares of amc. they're down 7.5% after reporting a loss for the 14th

skec fiv quarter and the fourth consecutive year the movie theater chain has not reported a profitable quarter since the second quarter of 2019 and has not been profitable for a full year since all the way back in 2018, but the company's ceo says he's confident a multi-year recovery is ahead. covid vaccine maker novavax sending a warning about its ability to remain in business as a weak demand for vaccines and uncertainty of government vaccines weighs on the company shares down 23%. they say there's significant doubt over it current revenue but the continue forecast suggests the company has enough funds to operate for the next 12 months. rivian shares hitting the skids after they announced they would make about 50,000 truck this year. that's 10,000 fewer than analysts expected. they also reported an operating loss of $4.3 billion this year citing supply chain constraints as the main limiting factor.

salesforce has the biggest potential to be a market mover revenue forecast increased almost 10% year over year. the big thing to watch, it's right here behind me any developments on the six activists. salesforce has already added a ceo. the latest activist dry asset management is talking about quote, unquote wokeness but according to the report has a relatively small stake of around $1 million the window to nominate new board members is open until march 14th. next up is snowflake forecasts see revenue increase by 15% this is a high valuation stock that has questions about near term growth. snowflake operates a consumption model. yesterday they said there are some near term demand concerns but the long-term outlook really

makes it a quality name. box is increasing. it could swing its profitability on a gap basis due to strong net cash flow. let's talk more about the clund what's the best bet with your money with keith weiss. great to have you here. >> thanks for having me. >> this is such a big report for this company what do you expect when it comes to numbers and commentary about these six activist investors >> i think you're right. there's a huge expectation, probably less so about the current fundamentals there's pretty low expectations in terms of the overall growth the key number people are looking at for the current quarter there, fiscal q4, is going to be their current remaining performance obligation numbers. that's supposed to grow by 10% if they hit that number, i think

investors will feel fine about having visibility and control over their near term fundamentals but the real focus like you were alluding to is going to be which one of those activist dials if you will are they willing to turn the most. there's high expectations that will get higher market targets given the restructuring that just came through, but any commentary about how they're looking to augment or change management is going to be very interesting to investors as well as any changes in that return of capital to shareholders. can they potentially increase the buyback? that's something you can potentially hear about tonight on earnings. >> yeah. one of those has highlighted what they call a subpar mix of growth and profitability you mentioned some change to the targets. but beyond this report as they try to settle with these different activist investors, are you expecting somebody else to get a board seat? what other big moves do you think are likely

>> like you said, there's multiple activists involved in the stock. they're vying for multiple changes to potentially take place on a go forth basis. the biggest ones, i do think, and i've talked to multiples of these activists is a better mix of growth and profitability. so the biggest single thing investors are going to be listening to is how is the company talking about the impact of the most recent round of restructures, are there more to get sales productivity to where it needs to be so that's going to be the number one focus. where do the profit margins come out. the other additional focus can be returning more of their cash to shareholders. the company's talked about returning 30% to 40% of their free cash flow in the form of repurchases. they could definitely take that higher on a go for it basis. that would be a positive indicator as well. the other impact, that would be something of a restraint on the

company's ability to do large mna on a go for it basis that's also something i'm sure investors want to hear is there's not going to be large additional deals taking place like we saw with slack. >> let me jump in for a second i want to go rapidfire on some of these other ones. let's talk about snowflake for pe, over 300 times, valuation. what is your take on it? >> we lean beyond snowflake. while it is a high valuation name, one in the near term, we think the demand trends are going to be better than feared data warehousing, data analytics is a very high priority item for them it helps them navigate the volatility we're seeing on a go forward basis. we think it carries their demand better than people are fearing

on the bottom line they've been rapidly improving there. their margins and free cash flow, we think that continues into the forward year, so we would be leaning more aggressive into into snowflake and definitely into their forward fiscal year. >> all right keith weiss, bullish on snowflake. ahead, cardi b back slash. why mcdonald's is not too happy with the rapper. check us out on apple, spotify, or other podcast apps, and w.e.x. will be right back.

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investors are looking to leave a fumble behind, change fortunes ahead and we're set to get the latest look at the health of the consumer we talk to one top analyst who says that stock has plenty of room to run. and pulling back the curtain on elon musk's plan for tesla, what he may have in store for today's investor day and what it could mean for this investor stock it's wednesday, march 1st. and you're watching "worldwide exchange" right here on cnbc ♪

welcome back i'm frank holland. let's pick it on the stock futures. in the green for this first trading day of march, this after a february to forget you can see the chart right here the dow the hardest hit, nasdaq down 3% as well. second down month from the last three. some of the months' bigges we're keeping an eye on the bond market they continue their hard move higher 2-year note trading at a 6eer high this is oil. it continues to hover right below the 80 bucks a barrel market wti crude at 76 brent crude at 83.

both are moving lower. there was a brief rise in the overnight hours after the chinese manufacturing data showed a lot of expansion when it came to the chinese manufacturing sector, something to watch when it comes to the oil prices. let's get a check on some of our top stories this morning silvana. >> i'm back with more. the fda panel is giving a green light for the broader agency to lay prove the country's first vaccine for older people the shot made by pfizer would be for people 60 years aeld older the single shot was shown to reduce the risk of respiratory virus by as much as 86%. twitter is scaling back its office space in new york city. the company is sub leasing 2,000 square feet in manhattan it's part of ceo elon musk's attempt to cut costs and it comes as amazon and meta scale

back their new york city footprints. and mcdonald's facing backlash from some franchisees of cardi b some restaurant owners have contacted the owners about the ongoing famous orders, a campaign that could hurt their family-friendly image given their past lyrics. others have joined them in removing ads and merchandise related to the campaign. i'd still order my fries and cheeseburger, but that's just me. >> are you a car bydi b fan >> i am. >> that explains it. watching shares of lows as they gear up toward the earnings report on the back of that missing expectations for the first time since 2019. let's talk more about what to

expect from loews with liz suzuki great to have you here. >> thank you for having me. >> the report comes out after "worldwide exchange" ends at 6:00 on the east coast the sales mix is about 10% to 25%. compared to home depot that's about 50-50. what do you expect >> after home depot reports, i think we can probably expect the same from lowe's that's where we've seen more of the incremental weakness our data has shown that as well. at bank of america we break out home improvement retail. those pro-housing services are still holding up very, very well, where we've seen declines

over the years in dyi. >> i'm curious mortgage rates are elevated right now. most people aren't changing homes or trying to get out of their homes because they have a pretty low rate. why isn't that tail wind for people wanting to fix up their homes? >> i think there's that lock-in effect you can't change homes there's not that much supply housing supply has been a pretty big constraint in that environmental you can just make your home meet the needs you have, which is making renovations. there is still strong demand, which is why we see sales so elevated we're still holding at very strong levels. starting to see a little bit of weakness on the housing turnover side it tends to cause a lot of renovation activity as well. you prepare your home for sale and you do a lot of renovations too. i got to experience it firsthands about six years ago there's a lot of tircht tied to

housing turnover without that you still have ongoing renovation, which is why you see some of the building products companies seeing bigger dips in sales right now versus the home improvement retailers holding steady. >> let's look at a retail roundup. what else are you looking at going forward? >> we have best buy reporting this week. and so one of the interesting read-throughs we'll get from lowe's is on appliances. they're a big category for best buy as well. we heard from whirlpool that reported earlier in january and they actually had a pretty weak quarter. so appliances were actually called out by home depot as one of their weaker categories too i think that's going to be one aria, these big ticket items that are a little more discretion ertha had incredibly strong sales during the pandemic, we're starting to see some of the weakness coming off of we'll see if that's the case with best buy as well. >> is the real weakness in

discressnary or is it in personal electronics >> exactly when you have a relatively less constructive view on best buy for the year ahead, i think right now we're focused on needs over wants we think that's going to be a big theme in 2023. the consumer, there's so much competition for those consumer dollars, they're mostly going to go toward needs. inflation is still a big headwind on groceries, so people have to choose where they're spending we do think that the home counts as an investment so when they're making those renovations, that's somewhere where they feel like they'll get a return on the dollars. >> a lot of questions about the consumer and volatility. before we let you go, what's your top pick in the sector going forward? >> i think there are a lot of names in my coverage lowe's is one of them. this is a really interesting time for lowe's right now because the story about closing that margin gap between home

depot and lowe's has been a big part of what people have been waiting for and seeing over the last five years as marvin ellison joined as ceo. this year, lowe's has already guided to 2023 margins where they're seeing improvements of at least 60 basis points home depot guard last week and they're going to see 60 basis points decrease, so that gap is already closing. i think that's going to be something to watch for lowe's today. >> something to watch. liz suzuki of b.o.a. tesla is looking at a revamp of his crossover we'll have updates to the exterior and interior. they could be ready for production by 2024, this ahead of tesla's annual investor day elon musk teasing a reveal of his master plan 3. joining me now is tim higgins. hey, tim. >> good morning. >> we're hearing from sources.

we're getting insight on what could be happening what could be happening with the model y and other changes going forward? >> this is an opportunity for musk to refrain or recap a base around the company, putting company forward into the future. how is the company going to get to 20 million sales annually so this is about bigger strategy, but also tactical. new factories, potentially new platform how is he going to get to a vehicle that costs $25,000 instead of $40,000 like they have right now. >> can i ask i think it's probably a question a lot of investors want to know. why is it a big secret generally when you announce a new model, people get excited about it so why such a secret when it comes to this one?

>> this is about, you know, building buzz and building toward it. you have to remember the model 3 and model y are getting to be long in the tooth. the real big need of the day for a lot of investors is going to be the next generation of platforms that the company's working on that elon has hinted at in the pachlt the idea of getting it out there for the masses, that's going to fuel that march to million annual sales he's put on the board. >> what else are you expecting will elon musk be on the call? do you expect him to say anything controversial or anything else exciting for investors? >> absolutely. this is a day about building excitement for the company he has used these kinds of days in the past to set out kind of a broader vision for where he is going and tactical steps as well i wouldn't be surprised if he

officially announce as new factory from mexico. he's going to need a lot of factories if he's going to come to that goal of 20 million the question is there going to be a demand for all of those cars that's one of the things we'll be looking at especially in the midterm in the concerns about slow down and macroeconomic environment. so a lot about today is going to be his mood and where he sees the company going in the years ahead. >> you were kind of talking around another question i had for you when it came to demand he has some rising competitors in the form of ford and gm there's rivian and lucid some of them are very attractive that was one of the selling points for tesla from the very beginning. does he say anything about the competition, price cuts, or anything else for tesla to maintain its advantage >> this is all about ensuring that he stays ahead of the

competition. will he talk about specifics about demand it's hard to say, but without a doubt, you know, competition is rising there's been kind of commentary in the market about concerns that the model y and model 3 are looking long in the tooth, haven't been out there in so many years it also illustrates the need that tesla has among those kind of upstarts. look at rivian reporting result this week that were disappointed lucid is out there kind of disappointing. tesla has been doing this now for a number of years and has built some strength in how it manufactures its vehicles. and i wouldn't be surprised if elon hits those notes to build the machine as he often says, talking about how he's going to get more efficiency out of billing his products. >> tim higings of "wall street journal." coming up, a cnbc exclusive

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the latter two reporting their earnings this week zebra provides devices and data for inventory management, something new ceo bill burns tells me is good for the entire sector. >> how much inventory do they want to hold, where am i at in my demand signals to the end suppliers and ultimately making sure i've got the right inventory when people want to buy so i don't lose the sale. >> you can see my full interview at cnbc.com. he shares his vision for the company going forward as he begins his first day as ceo. companies are still looking to invest in new equipment even as they may be tightening their budget inflation, rising rates, and the hot labor market the equipment leasing and financing association which tracks the $1 trillion sector says u.s. companies borrowed 6% more in january for investments.

they sign up for nearly $9 billion in new leases, loans, and credit they have nearly 75% of their revenue from north america and europe the company also finances just about a third of all their customer purchases joining me now on a w.e.x. exclusive scott wine great to have you here. >> thanks for having me on for a second week and congratulations on the show. >> thanks a lot. i appreciate it. you get more than a third of your business from the united states and europe. give us your sense of demand for farming equipment and construction equipment in both regions. >> we're seeing strong demand particularly in the americas north america and south america, we see no signs of slowing down. europe iso off to a shaky start.

yoifr y'all the environmental remains quite strong in this uncertain economic environmental we're in. >> let's talk about that we saw wheat prices spike after the ukraine crisis they're known as the bread basket they're still elevated compared to the prepandemic how does that impact your sales? >> really the soft commodity prices do drive so much of farm income what we're seeing now as you see softening a bit in some of the soft commodity prices, the other input is coming down overall farm income is elevated from historical norms. certainly that helps demand. really like i said, what we're seeing in new york and south america -- and i was just with our asia-pacific dealers yesterday. they're really bullish about the first half of the year, the demand they see in australia and new zealand as well. >> what about manufacturing? we're seeing china begin to

reopen and showing sign. what are you seeing when it comes to your construction business >> our construction business is -- they're doing a nice job. the case brand is extremely strong i think we're going to show the world what we have. it's very, very strong in the americas we did end our business in china. we were a sub-tier player there and felt like we could develop our resources elsewhere, but i feel like our construction business is on a positive trajectory we really like where we sit. the opportunity with our ag business as well really allows us to hold that business relatively cheaply and invest wisely. >> you're a multi national you only get about 37% of your revenues in north america.

give us your take on two big mac crow factors wu saw the dollar rise pretty sharply and rising rates considering you finance about a third of the rates yourself. >> obviously the rates and the currency tend to go hand in hand you know, as a global play eric we're somewhat naturally hedged but we also have a very sophisticated financial services arm. you know, that does -- it's a way we can support our dealers with flooring finance and also with the retail finance arm. you know, we could use -- as higher rates go up, we could limit the impact on the buyer. that's got a small impact on a net interest margin. really overall, we've got -- we're able to manage the strong dollar it's sfil down significantly we feel like we can navigate these issues quite well. >> so you mentioned you're buying down the interest rate as bit. it's the bottom line a bit

but does it also dampen demand are your customers disturbing by the rates and the rising costs >> you know, franks a lot of them are trading in vehicles, and so the your y'all impact of higher rates is -- i wouldn't say it's deminimis, but it's significant with our support we're seeing in certain regions where just inflation has been so rampant for several years now that pricing has gone up 20% year over year in some cases, so we're seeing that have a little bit of an impact on demand, but overall like i said, the demand environment in our ag business is quite strong. >> scott wine, ceo thanks for being here. stocks looking to get back on track malcolm etheridge lays out the two cyber links he sees an

opportunity in be sure to fun in to our interview with peter jksacon, flutter ceo. that's tomorrow at 5:40 a.m. eastern only on "worldwide exchange." and we're back in a moment how do we show that we'll stand tall through the storms? nah. (thunder) how do we make our clients feel secure and- ugh... not lions. (lion rumbles) we do it with our people. people who've been looking after people for over 170 years. what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks.

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welcome back time for your w.e.x. wrap-up six stories you may have missed as we close in on the 6:00 hour. china factory output grew at its fastest pace in ten years. rivian announcing its plans to make 50,000 electric vehicle this year, however, that's 10,000 less than what analysts were expecting. novavax warns about its ability to remain in business as there's a weak demand for the vaccine and government backing weighs in. general motors follows other

companies to downsize in head-count. "virgin galactic" is on track to resume space flights after making upgrades to its carrier craft and spacecraft and instacart generating 50% higher sales and profit in the fourth quarter ahead of the company's expected ipo they set the push in advertising as a key growth driver. investors are awaiting weekly mortgage applications as well as manufacturing pm manufacturing figures this morning. and on the earnings front, lowe's and salesforce among the others reporting there will be smeechs delivered and disney hybrid employees will be forced to return to the office four days a week starting today. joining me now, malcolm etheridge, executive vice

president and the newest edition to the cnbc contributor roster great to have you here first appearance as a contributor. >> good morning, frank good to see you. >> you and i were chatting yesterday. you said you're watching inflation, not just here in the united states but in europe as well you believe that could impact the market action we're seeing here. >> that's right. i'm actually concerned that fed chair powell could be paying attention to the aversion to arise in inflation that happened in france and spain and looking and saying we don't want that to happen here, which bhmeans we hv to stay aggressive as he was trying to back away and trying to work our way toward this soft landing that he kept promising, i think we see evidence like that where inflation starts to creep back up and you have to go. maybe we have to increase rates a few more times here, which could be terrible news to the market's ears as we've all come to a consensus that the fed was

going to be pausing at least if not cutting rates toward the back half of the year. >> you're saying rising rates could be a concern to be honest, we've seen tech shake that off, the nasdaq outperforming the other indexes so far this year do you believe that trend's going to continue? as someone looking at stocks and different sec tors, what are the sectors you're watching? give me a sense of the key measure. i know it's not an umbrella thing, but one of the big things you're looking for. >> you're right. in january we did see this moment where all of a sudden the more risky frothier, dare i say names that, you know, were really the biggest losers of 2022 all of a sudden started to have this resurgence and then in february we saw the s&p in the last three weeks wasn't very good to us and we saw a lot of the larger growth names start to come back in. i think what investors really have to focus on is just good

quality companies that are doing real business and aren't necessarily speculative or adding ai to the end of their name as a means to add some growth in the short term they're companyings returning capital in the share of dividends or buy backs or both otherwise you might as well hide out in the s6-month treasury. >> both are in high security place and in names palo alto networks and crowd strike, 64 times for pe. at that valuation, why is that so attractive right now in. >> i think that's fair i think that those two names not necessarily just based on the technicals, but if you consider where we are in the marketplace right now, i just mentioned the need to focus on companies that are doing real business, and every single time we hear about

a major ransomware attack or day pa breach like at the u.s. marshal service, whenever they make big headlines, it specific like this. pam lowe al toe, i've been waiting for some time. it's up over 10% since announcing a big earnings beat, which means i could be waiting a while. the point is in this particular case, i think that this is still an attractive place to be looking to deploy some capital, this being cybersecurity, where the rest of tech maybe you're seeing a bit of a slowdown i don't expect the incidents to slow down. which means spending is going to continue to stay at least flat if not significantly positive over the next three, four, five years. >> a lot of risk, certainly. malcolm etheridge. thank you for being here

that does it for us here on "worldwide exchange. "squawk box" coming up next. thanks for watching. this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. everything's changing so quickly. before the xfinity 10g network, we didn't have internet that let us play all at once. every device? in every room? why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good you've got it.

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good morning stock futures kind of look like yesterday early on that didn't turn out too well, but they are indicated slightly higher 82 appoint on the dow after the major indices closed out february in the red. we'll show you what let's moving right now. elon musk says he'll unveil his third master plan at a tesla investor event today a new report says that that will include a revamped model y.

plus, earnings alert retailer lowe's set to report any minute now a week after home depot. they usually report the day after. we'll bring you the numbers and the instant reaction it's wednesday, march 1st, 2023. "squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" here on cnbc we're live from the nasdaq market sight in times square i'm becky quick along with joe kernen and andrew ross sorkin. let's take a look at how the equity futures are shaping up at this hour. the nasdaq up by 67. but this comes after a down day yesterday and a down month for february for stocks. in fact, stocks have been down