it is 5k a.m. cnbc global headquarters, and here's your "five@5. we begin with stocks set to rebound. futures pointing to a modestly higher opening. and later this morning, it ee tech after big beats from alphabet and microsoft, warning shareholders in a very big way more on that later on in the show. speaking on f tech, it's a decision day for what's holding up microsoft's deal for activision deal. shares of republic closed down

50% yesterday. there are multiple reports that all options are on the table to ensure its future. then later in the show, a big win for a big day in china that's putting oracle back in omaha. it's wednesday, april 26th, 2023 and you're watching "worldwide exchange" right here on cnbc good morning and welcome to "worldwide exchange. i'm frank holland. let's kick off the hour with a check on u.s. stock futures after a rough session yesterday. the major averages with their worst day in more than a month this morning it's all about tech let's take a look at the nasdaq. up more than a half a percent. dow jones also in the green. leadings the charge, shares of alphabet higher after authorizing a new $70 billion share buyback program. you see shares are up half a

percent this morning big spike in that stock yesterday after earnings we're also looking at microsoft also topping estimates a lot of buzz about ai and how it will shape the future of the software giant you see here talk about spikes shares are slightly higher up 7.5% this morning much more on the two names throughout the hour. we're checking the bond market, a bit of a story here. looking at the 10-year note, it's 20 basis points higher than it was in april. we've seen declines throughout the month. there's a lot of concern about the economic slowdown. a big change on the 2-year note, something to watch there the energy market, oil seeing declines right now, wti, the benchmark about five bucks lower brent crude, the international benchmark, about $81.35.

natural gas down 2%. we're also watching crypto it's interesting in crypto here. we're seeing bitcoin still below 30,000 at 28,790 basically, but up big, 4% ether back below 2000. time now for a check in asia our julianna tatelbaum is standing by in our london newsroom good morning, julianna. >> good morning, frank the stoxx 600 at one point had been on pace for its biggest decline of the month we have since recovered some of that ground, pairing back losses still we are lower across every major region it is a big earnings day today so let me talk you through some of the big movers starting with standard chart never the financial place. first quarter pretext profit rose by 21% to $1.8 billion topping expectations

the uk and lender was boosted by higher rates shares are trading modestly higher in the pharma's phase, the swiss giant roche has reported a 7% decline in first quarter sales amid falling demand for covid therapies and their tests kits revenue came at 15.3 billion swiss francs that was above expectations, but shares are trading lowering about 1.4% and in the luxury sales space, kering rose at 1% with the luxury giant posting revenue of just over 5 billion euros. gucci also rose just over 1% with the new crater expected to present his first collection in september. and kering shares are down 2%. it's interesting we had reviews from lmvh and

gucci. strong. let's get back to our top story and two of the morning's big money movers our silvana is here with those stories. good morning. >> good morning to you we're going to start with microsoft, shares slightly higher the beat reflecting a rare sign of increased i.t. spending as spending kicks off in earnest. azure, the cloud unit, grew more than 30%, higher than the street was expected for the fourth quarter now, the company is expecting sales to come in at the middle of the range between 5485 and $5585 billion, implying a growth raid of 6.7%. cfo amy hood says the future is all about ai >> we're excited about the feedback we will continue to infect in our infrastructure, particularly

ai as we spend at the scale with the growing demand driv bin customer transformation, and we expect the resulting revenue to grow in time. turning to google parent alphabet, shares higher ahead of the open, after beating street estimates for the first quarter. also reporting a cloud business profit for the first time on record yesterday's top and bottom line, beat breaks a string of fourth quarter missed estimates, and big news for shareholders as well authorizing a new $70 billion share buyback plarngs frank. >> certainly something to talk about. we'll see you later on the show too. >> sounds good. >> our silvana henao, thank you very much. turning to a developing story as we watch first republic after they closed down nooem 50% yesterday on an earnings report revealed that customers withdrew

some $100 billion in deposits in the first quarter of this year this morning we're following that the bank is, quote, struggling in trying to come up with any solution. the bank is in touch with the white house, fed, and treasury department to discuss options, one that includes an fdic takeover, similar to what happened with silicon valley bank this morning they're at fresh record lows. >> back to the markets and a new warning on potential hurdles ahead for investors and new note to client. r rubner says the managers are more likely to become sellers in the coming weeks, adding, the buyers are now out of ammo let's bring in david waddell

good morning thanks for being here. >> thanks for having me. >> they may also trade on other kpainchs globally. just for the audience, i want to make sure we're on the same page the investors are near peak positioning. agree with the take? what does that mean for the broader market >> i think there's a lot of cross currents when it comes to reading sentiment. when you look at hedge fronts, it's at a pretty high level. that tends to be bullish when you look at individual investors, they're a little bit bearish, but more neutral. when you look at professional investors, he's right. when you look at the intelligence index, et cetera, they've gotten a little more bullish. i think those cross currents are fueling this sideways move i think this continues, but i don't think it's as conclusive as he thinks it is we're sort of in the jet wash in the mix right now, but i don't

think that will affect it. >> tactically where are you when it comes to equities, when it comes to bonds how are you looking at it? >> it's a pretty difficult moment right now we've got the fed coming up may 3rd. they're going to raise rates by another quarter point. they're probably going to give us somewhat neutral lukewarm guidance while they navigate what's going on with the banking sector you've got the brinksmanship, which we get do once a year, which is lovely, and then you've got earnings coming in well above expectations, which is great news, and then you've got economics coming in below expectation, which is not great news we're in a sideways churn for a little while here. the fed ordered up a recession in jackson hole seven months ago. it's time for it to come we dealt with it basically last year we need to get the recession on and see where the debts will be and then i think we're buying.

>> you think it's pausing in paralysis when it comes to that. >> correct. >> there were a lot of fears demand for enterprise software and for the cloud, it's falling due to around economic slowdown. you share those fears. what do you say about the shares in microsoft >> i think it's the ability of the elephants to dance, if you will the eloquence has been pretty fantastic. they've had plenty of time to get their houses in order, do massive reorganizations. i thought what happened in the cloud space was typical. we'll see when the numbers come out later this week. overall, they're reining in their spend. what happened is the spend got so bloated zuckerberg said it's the year of

efficiency, which is what we want right now, which is why the economy can be soft while earnings can be better than expected. >> david waddell, we have to leave the conversation there. a lot more to come on "worldwide exchange" including the single word investors need to know about today. also it's decision day for a key regulate their's holding up microsoft's $69 billion deal for activision blizzard, plus chipotle looking to put an end to its recent price hikes. a look at the stock reaction in just a minute. but later, much, much more on microsoft's beat. even the gains, there's ryrtainly more room to run a ve busy hour still ahead when "worldwide exchange" returns. (cecily) oh, it's america's most reliable 5g network. (seth) and it's only $35 a line. (neighbor) i got that deal too. (seth) oh hey, bragging buddies! (neighbor) my man! (cecily) this i don't need. (seth) you should give me a call! (vo) with verizon, your family gets the network they can rely on and the disney bundle with disney+, hulu, and espn+ included.

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all right. welcome back to "worldwide exchange." a court will issue its final ruling on microsoft's final bid for activision our arjun kharpal joins us from london. >> that's right. they can expect to give a decision they've been one of the staunchest critics of this deal. a bit of a backstory the cma opened a propose after microsoft, the initial

investigation, would suppress the purchase of activism they even suggested microsoft spin off part of activision's business as a remedy, such as call of duty however, last month they softened their stance on this deal they found out afterward this wouldn't lessen competition in the consult market and it wo wouldn't be economically beneficial for microsoft however, they haven't made a decision whether it would reduce competition. that's what we're expecting to hear more about today later on they've been trying to offer don segs to some of its critics including sony and nintendo. they signed similar deal with nvidia microsoft said it has asking sony to sign the imminent deal

sony hasn't yet played ball. the uk regulator is certainly one hurdle it will be a big deal if they approve that today but certainly they'll have to contend with regulators in the eu as well as the ftc in the u.s. >> the fed montreal trade commission and other regulators. what has microsoft said about this deal and those other regulators >> the ftc is a huge one they came out last year saying they believe this deal will suppress competition in the gaming market. they raised similar concerns like other regulators. they feel what if microsoft takes the big titles like call of duty and keeps them exclusively for microsoft's platform the chair has been known to be a big critic of the power of some of these big tech firms, so she's going to be a tough one to

crack at the ftc as i mentioned, the uk cma has been one of the staunchedest critics, and it will be interesting to see if they green light the deal, whether that has any influence over the u.s. with the ftc. in terms of the timeline, it ee unclear when they might make that decision, but microsoft continues to say they hope the deals will be done and dusted this year, but, of course, that's subject to regulatory approvals, and the big one, frank abo frank, is the ftc. >> we're going to stay on this story. arjun, thank you so much. ahead here on "worldwide exchange," my sitdown with u.p.s. ceo carol tome and what she says plus a big buyback with buffett maker and china. what they just did with oracle stay with us

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welcome back to "worldwide exchange." chipotle with an upbeat outlook. the return of lower income customers and higher menu prices chipotle says it plans to stop the price hikes least for now, the company placing its outlook for comparable restaurant sales

growth for 2023 to the mid- to high-digit range the ceo said yesterday strong operations and traffic led to that beat. >> we use it very sparingly. you know, we don't like to take price unless we absolutely needed to. what you can see in our q1 results we had great traffic results. all things actually delivered for us in the first quarter. also looking at shares of enphase energy with a mixed quarter incliques weak revenue outlook. it comes despite an increase of u.s. imports of solar panels following months of gridlock

banb with a new law banning forced labor. we're looking at the banking sector shares of pacwest adding $1.8 billion in deps its after deposits fell 16% in the first quarter. they did report a net loss of $1.21 billion in the quarter because of a guide will impairment charge with the stock losing more than 60% of its value since the collapse of silicon bank this morning shares are up more than 17%. let's get a check on this morning's other headlinesful phillip mena has more. >> chief justice john roberts told senate leaders he's declined the committee's request to testify about the supreme court's ethics issue he instead offered a statement sign by all the judges on

ethical principals and practices. dick durbin said it will happen whether they participate or not. jury selection is set to begin today in the proud boys conspiracy trial the defense finished up closing arguments yesterday with the attorneys for the right wing group placing blame squarely on former president donald trump. the five proud boys members on trial face at least nine counts including seditious conspiracy. finally this morning the barbie dream house is becoming more inclusive mattel is introducing its first barbie with down syndrome. teaming up with the national down syndrome society, it was designed to promote down syndrome awareness including a necklace with three arrows representing the three copies of the chrome zone. this's it from here, frank back to you. >> thank you very much appreciate that. ahead on "worldwide

exchange," a call seat and a check on this morning's biggest calls by firms that you know and names that you likely know, why jeffries is turning shares of tesla. "worldwide exchange" aka w.e.x. will be right back sharpen your , you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market. this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight.

it's around 5:30 a.m. in the new york city area shares of microsoft are

taking off they pay off in a very big way we're digging into those numbers is. shares of alphabet climbing higher give a green light to a massive $70 million share buyback and buffett maker taking a lead from auto giant volkswagen and a race for market domination in china it's wednesday, april 26th you're watching "worldwide exchange" right here on cnbc. welcome back to "worldwide exchange." let's take a look at u.s. stock futures. we're look ing at the u.s. market the s&p and dow jones up, however, the dow jones up fractionally at this point we're also watching the bond market we're looking at the yields in

the benchmark 10-year. right now it's at 3.40 about 20 basis points lower than the high this month. we've seen a decline on the 10-year as we've gotten closer and closer to a fed decision something else we continue to watch. wee watching energy, oil as always wti up about half a percent. brent crude almost 81 buck as barrel, up a fraction. natural gas taking a turn 2% to the downside. time for a check on this top stories. our silvana henao is back with those. >> hey, frank, the congressional budget office putting a new price tag on how much republicans plan to raise the debt ceiling could potentially save taxpayers the cbo says the package, which would raise the debt limit as well as curb government spending could help reduce the deficit by $4.8 trillion over the next decade the bill would also look to end

the biden administration's student loan forgiveness decision and roll back part of the democratic economic package approved last year house leadership is planning to bring the bill to the floor for a vote this week. china-based byd surpassing volkswagen as china's best-selling car according to bloomberg, the warren buffett backed electric vehicle maker topped the german automaker during the first quarter selling over 440,000 cars in china. vw has been the best-selling car in that country since at least 2008 byd's chairman said last month he wanted to overtake volkswagen by the end of this year. and warner bros. discovery pulling back the curtain on its lineup of upcoming films during its cinemacon presentation of barbie and flash the ceo telling the crowd at the

convention that the studio will release 16 film this year and hopes to do more than 20 releases annually going forward, frank. i'm excited for this barbie movie. >> i knew you were going to say that if you go on reels and tiktok, they have i'm a barbie song. they put out pictures. i don't know what to call it. >> more to come. >> very exciting. turning our attention back to big tech, microsoft leading the lead, surpassing expectations on the top and bottom lines and beating estimates. it emphasized its ai efforts the company is excited about the early feedback and the demand signals for their ai capabilities they will continue to invest in cloud infrastructure and spending microsoft invested $10 million the in open ai back in january and now it says it would draw

the new models for a bigger version of the search engine and the productivity software. let's talk much more about this with timothy huran thanks for being here. >> thanks for having me. >> you said ai is having its iphone moment. so you've obviously seen the results from microsoft and alphabet is that what you were talking about? have we reached that iphone moment already >> we have in terms of excitement but not in terms of applications at this point the company's seen a lot of inbound interest they're seeing customers talk to them it's a great leading indicator ahead. >> there's a lot of concern about a big time slowdown. what does that tell you not only about the tech sector but economic spending -- excuse me company spending when it comes to i.t.? >> it has slowed down a bit. they were growing in the mid-40%

range. next quarter they'll be growing in the mid-20% range it has slowed down but not as much as feared this quarter they grieve revenue 31%. i think the fed was worried they were going to grow 27%, 28%. definitely overall microsoft better than expected they're gaining share in a whole bunch of different products and surfaces they're bundling products extremely well we've seen a huge amount of interest we do think ai is going to draw market share memes across the board as they bundle products tog together. >> yes, we're not seeing the same growth in the 40% range, but isn't the cloud market just maturing i would think a lot of the

workloads have migrated to the cloud. isn't there a lot of hiathiatio? what we're seeing from the companies doesn't that show a continued move to the cloud and a strong movement in general >> we've only seen 20% we think most workloads are going to be more ai-based and new what we call white space workload we think we're only the second or third inning of the cloud at the moment ai is really going to develop in organic ways it's going to draw up new cases that make it really hard to predict. still really early days. >> obviously it's a big buzz when it comes to ai. what did you make with what you heard? how does that impact other areas of tech including cybersecurity? >> microsoft said they're really going to ramp capex a lot next quarter, so we don't know exactly what that means yet. they're extremely optimistic about what they're hearing and seeing for a lot of these new

workloads and we should see pretty good growth for the next couple of years. a lot of the cloud slowdown we've seen are a lot of grooming ways people are optimizing some of the prices that they're paying but once that's seen, you see very, very good workloads migrate over we see that essentially is what they're saying google had inline numbers basically growing at the same rate of microsoft right now. they're a little more focused on profitability and they did turn profitable for the first time. >> timothy horan, we thank you for being here. we turn our attention to google's alphabet. the first beat after missing estimates for four straight quarters they also announce the operation of a $70 billion share buyback and it's cutting costs fall fa bet's chief ruth porat

noting an uncertain environmental. joining us now to discuss is richard kramer and managing director great to have you here. >> thank you. >> so give us your take. what did you make of what we heard from alphabet? >> so indeed search came in at 2% growth, a billion dollars higher you also have to look at the fact the network business where they place on third-party websites came in lower year on year, and what happened in our view is that alphabet probably didn't place ads on third-party sites but kept it in-house leading to better search results. you saw youtube was down for a third quarter in a row, which obviously shows that, you know, that property is not bullet-proof, but indeed they're taking some of the most attractive users out of the advertising pool because the area is growing faster for them is youtube sun subscriptions like premium and music.

>> something to watch there. richard, stick with us for a second after the close today, we get another look at the ad market, this time the facebook parent meta platform is looking at the one metric that investors should be watching. >> it's the year of efficiency, and so now the question is whether a slimmed down meta can accelerate revenue growth. earnings per share are expected to fall by 25.5% while revenue is expected to decline by nearly 1% investors are interested in hearing more about the impact of market weakness, monetizing reels and messenger, as well as the company's ai and metaverse investment he warns, quote unone headwind remains as a persistent ad and

so far we see no signs of recovery on that front we think the scale should make it a somewhat resilient platform year to date meta shares are up 73% as the company has outperformed its peers and the broader market and despite those gains, analysts are still bullish. 71% have a buy ratierate, andin have a higher one. back over to you. >> what'sure take on that? >> there's been a lot of hyper reelz. one is on margins. both reelz and the metaverse will be substantially lower margin businesses than facebook enjoyed in the past. and second as has been points out, we've been talking with you, i think, since fourth quarter of last year, this

recession may impact on ad sales. you saw that on alphabet where they're focused on efficiency gains. the market's down because the growth is coming from areas like subscriptions and cloud which areinherently lower margin businesses the question for meta, not only are they in the next four months going to be shedding another 10,000, which is hugely disruptive to the business, but the real question will be what's the steady state margin profile of the business when they have reelz and metaverse as their key drivers of growth as opposed to the behavioral targeted ads which they had been enjoying in the past, the like chofs the internet sector had never seen before. >> the idea of reelz was monetizing it. but i want to turn to alphabet alphabet is up 1% rmg but you see microsoft is up 7%

did he say enough on the call? did you hear enough about the ai plan, what they're going to do and just their plans moving forward on this call >> this is something we've been talking about since the start of the year in that google's issue is that they have the brightest minds in ai, they have the rock stars, they have a third of the top 100 cited papers in ai, but they're an engineering-lead company and they've not proselytized what they've done allied to that, alpha bit has an issue that android has had a share. they're not doing parly well they're shrinking. what we need to see out of alphabet is to get out in the front foot and profselytize it.

they're seeing, you know, the expected slowdown in their cloud business think need to make their incredible ai prowess and brain power inside of alphabet relevant to the products that they sell, not just improving their own internal operations. >> with all that said, google turned a profit for the first time big deal or not a big deal >> not as much of a big deal, because if you look at the fine print of how they reallocate corporate cost, they removed a billion dollars of cost last year that was allocated to google cloud and allocated it to the services business and the corporate parent sort of overhead so they gave themselves a little bit of a tail wind boost let's see if as they are folding the chips and deep mind into cloud and services, let's see if they don't add some costs to

pursue the growth they've talked about in cloud a 3% margin in a business of -- that's on a $30 billion run rate is somewhat of a rounding error to be fair, and i wouldn't extrapolate that to say it's off to the races to see the kind of margins we're looking at at aws in a few quarters time. >> richard kramer, you're a text stream talker. great to always have you on. coming up on "worldwide exchange," shares of u.p.s. coming off their worst days since 2015 after the company missed estimates my exclusive sitdown with ruth tomei and when she says a turnaround may come. first before we head to break, some of your top trending stories. one fifth oskt electric cars were sold this year, the iea projecting sales growth of 35% this year. and a shift from combustion engines to electric cars to reduce the use of oil by at

least 5 billion barrels a day. they're rolling out an ai feature to help verify user photos to make sure they're not fake and that the photo matches the person that's actually in the profile. and apple is reportedly developing an ai-powered service code named coach it's to help them exercise and put users to sleep easier, betterb back with "worldwide exchange" in a minute.

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welcome back to "worldwide exchange." we check on the biggest upgrades and downgrades by firms that you know and stocks you like being offered. first doeutsche bank upgrading from hold to buy it spark as positive outlook in the near term. second, barclay is downgrading scotts miracle-gro now putting company at equal rate moving the price target from 105 per share down to $70 per share and cites u.s. weak consumer data below what scott's assumed in its guidance jeffries is downgrading its target from a buy to a hold and shifting its price target pretty dramatically to $185 a shafrmt jeffries says its strategy has

reset the expectations for tesla. turning now to u.p.s. yesterday i sat down with ceo carol tome for an exclusive interview after u.p.s. narrowly missed on revenue and profit shares are basically flat in the premarket following its worst day of 2015 of the logistics giant. tomei was optimistic despite declines in january, february, and march. >> it's really interesting we saw retail sales take a decline in the month of march. there's a change in consumer shopping behavior moving from goals to service, spending more in their wallet on things like foochld 9% is going to food now compared to 7% just a couple of years ago. >> and tomei says she expected 56% of the profit will come in

the final two quarters that includes the holiday season we also spoke about artificial intelligence u.p.s. has used the ai mapping system for decades but now they find they use it in a way that's both scaring and exciting. >> we've been using ai in machining for a number of years. if you think of orion, which is our routing technology, that's ai when you think of a tool called dill manager which allows us to price aed by for small and me medium-sized businesses that used to be informed by tribal knowledge, by experience, human experience, it's outpowered by machinery. and the cool thing is that our win rate is higher and our discounting is lower because of the power of the machine >> tomei celebrates her third year with u.p.s. in jeune. she describes it as interesting.

two-thirds of the contract has a contract that expires on july 31st for moy full interview with caro tome, you can go to cnbc.com. the one word everyone needs to know today. post-earnings buy. are tech names on his shopping list in this day ahead. >> follow the podcast. if you missed "worldwide exchange," check us out on apple, spotify, or other podcast apps w.e.x. will be back right after this

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quick back to "worldwide exchange." five things you need to know first republic reportedly struggling to come up with viable strategic options after shares fell yesterday following its latest earnings. shares of fellow regional

bank pacwest surging after it reportedly add $1.8 billion deposits in late march after a dough klein in the first quarter. shares of chipotle popping after expectations they're giving confident outlooks this year. shares of enphase energy sliding including disappointing revenue results and a weaker than expected revenue forecast for the current quarter. the uk competition court will issue a find ruling on microsoft's $69 billion acquisition for activision and illumina unveils plans to cut costs by more than $100 million starting later this year we're gearing up for the trading day ahead. the latest read on durable goods, mortgage applications and much more out before the opening

bell we also have earnings front and center with results from boeing, meta palace forms, and roku just to name a few. goldman sachs' meeting kicks off at 9:30 a.m. eastern that's your setup for the day. let's get a check as nasdaq gets set to open up 1% higher. as we mentioned earlier, it was pretty much flat joining me now is cnbc contributor malcolm etheridge. great to have you here. >> good morning, frank glad to see you here. >> every day we ask wall street's brightest minds to describe the trading day ahead malcolm, what is your w.e.x. word of the day? >> i'm using the word "patient." i understand all the hype around ai has helped to keep tech relevant, keep the market buoyed, and help to boost the nasdaq more than 15% or so, i think, so far this year, but i

don't see it as sustainable. i think inflation is still an issue. businesses of all sizes are still cutting costs and limiting expenses on things like software and that hasn't gone away because artificial intelligence has captured our attention for the moment i see that it's great that microsoft and alphabet are in this arms race to create the best ai-powered search tool and they both had pretty decent earnings to report yesterday, but i don't know that now's a good time to take profits in tech i think we'll get a better opportunity. >> wait. so if your word is "patient," why don't you just hold on we're just seeing this ai narrative unfold we're having amazon come up. i'm expecting to hear a lot more about ai why wouldn't you be patient with all three stocks and see where it goes? >> i'm more so being patient if i'm looking to put new money to work i can be patient as a shareholder because i intend to hold the stock for years to

come but if i'm a person looking at the markets and thinking that the train has left the station, that's who i'm encouraging to be a little more patient and expect to get a better opportunity near term. >> all right so you're saying you wouldn't put new money to work in any of these names, so what would you do today obviously we're seeing tech pop, microsoft lead the way f after its results. where would you put the money? >> i'm actually looking at memes in the health care sector. i don't want to necessarily own each individual company because health care is similar in that you get bitten more often than you do well. but i think owning an indks in that space, that broadly speaking owns both biotech and health care insurance names, all of those different pieces of the puzzle in the health care spaces is a decent place to be. i also think there 's nothing wrong with being in a money market account of being the same as a six-month or 12-month

treasury with a little better liquidity. that, again, gives you the word "patient." nothing wrong with hanging out for a few more weeks i don't think, like i said, this train has left the station just yet and investors will have the opportunity to participate. >> you're patient as long as you're getting some of that yield potentially from a money market account i want to talk whether there might be opportunities that stock fell very hard. the stockmarket in general has seemed to staal out as ai has got an big buzz. would you put money in the security, basically buying the dip? >> i do think cybersecurity is probably one of those places insulated against a lot of what's happening in the broader market, simply in the sense we know large-scale cyber attacks are not going to go down whether interest rates go up a tick. whether they do or numot

we also know if someone's working hard to get their falcon product into the hands of state and federal governments across the country, this that's where opportunity is going to be regardless of whether we fall into a recession in the latter half of the year, or if there's a bull market happening, you see recipients of that trend, sort of irrespective of where the market decides to go >> would you put cybersecurity to work? >> in the interest of full disclosure, i own crowdstrike. i like palo alto as well to answer your question more directly, yes, i do see that as a place that you could put some money to work and not necessarily feel like there's the opportunity for you to get

crushed and a potential reception in the back half of it. >> pa palo alto has benefitted. to say it loudly, they have their own ai capabilities riding that wave. appreciate the insight as always your w.e.x. word for the day, atie." th's going to do it for us on "worldwide exchange. you've got "squawk box" coming up next. thanks for watching. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business:

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good morning techs to the rescue. nasdaq futures pointing to a nice rebound after the worst day in more than a month for stocks. we'll show you what let's moving right now including a big jump in microsoft after earnings beat estimates. they say artificial intelligence

will thrive. plus, first republic bank exploring its options after the stock got cut in half yesterday. it's wednesday, april 26th, 2023 "squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" here on cnbc we're live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. if you take a look at what's happening with u.s. equity futures at this hour, you'll see some green with the nasdaq, indicated that it's up by 68 points that's because of stronger