strategy but a winning digital strategy your goose is cooked. the other guys in the sector will set the oh venue at 500 degrees and burn your stock to the crisp. john in florida. >> caller: hi jim. >> oh man how have you been? >> caller: been a while. jim, this coming friday dinah vaks hepatitis b is coming up for approval, what is your outlook for dinah vaks going forward? >> i am concerned a lot of time after you get good news you get a sell off john i'd suggest taking a bit off the table before we get that i'm so glad your back in the fold thank so much for calling. braden in louisiana. >> caller: hey jim allow are you doing? >> i'm doing well how about you braden >> caller: good good i got a question about lie tum possession troll lum a few weeks ago you had a customer ask and you didn't like the differentials. the oil is significantly higher and the third quarter earnings were out and in my opinion we're very bullish has your thoughts changed on it especially if it can stay around that 50 to $60 window? >> everybody says oil is going higher

so, for instance, tonight, we're speaking of double digital, with the stock that's red hot western digital after they announced they were at better than expecting earnings last week, including personal computers. there are a slew of companies that serve the personal computer cluding seagate, amd, micron and digital. it is with seagate. the next thick the stock gets up with this good news pre announcement. now western digital made a brilliant acquisition after sand esks which allowed it to benefit from a flash memory cycle. it's expanded beyond the pc into the internet of things play, think of data forms, given what we we heard the data center real estate investment trust, we notice a demand for more storage now that everything is moving to the cloud, everything down the pike. we're in a moment where many of the big institutional investors don't seem that bright, to put it dramatic amy. they are aware of the digital transformation. when they see its stock flying, they want to pass up seagate. next thing seagate is ten times earning, one higher than western digital. after western digital tel

the digital yuan is free. and after all that, you can buy everything there with digital.nt an entire outfit from the burberry score you could do it with this. the true test when and how beijing allowed international transfers. because that could be potentially destabilizing. guys >> huh. >> and international transfers sort of -- besides the point right? not something used to pay for things yet digital yuan, interesting. because its primary purpose is to pay for things. in that sense, how could this be a threat to the u.s. dollar? isn't is way for the chinese central back to keep more tabs on its chinese population? >> reporter: that's one potential goal of the chinese government, but another goal that people talked about here is that the chinese government might want to really digitize the entire economy have the entire economy run on digital yuan as opposed to the fiscal yuan. in terms of the digital yuan really being a risk to the u.s. dollar dominance, it's not really seen that way here. mainly because the digital yuan is more of a mirror of the physical yuan. like a s

so then the question becomes, well, then, does mid-single digits go to low-single digits or can we see reexceleration itself? what drives that? >> the comp compares are 9% in the third, 11% in the fourth quarter. the base is those digits. what drives acceleration? about the tops business and a new introduction of new fabric bottoms coming in the fall selling season that is tested very well. i've got bottoms. i've got top. i have the updatened and upgraded website that's out there, and i have a category that's still rocking and rolling. i think that's what basically makes it get some comp acceleration. >> dana, appreciate you getting in front of the camara for us. see you soon i know.

if you talk about countries that oppose the digital tax could coronavirus make a difference to the digital. >> even the quarterly result to q 1 to put them in shares. the triple wammy of the sale and the supply chain to come to them through the western sales because most countries won't log down in march and the sales for q 1. they are the biggest pockets and there is many countries believe that they are being taxed fairly there needs to be a change in the system of taxation where they are not sort of based in the country. these companies are looking in the detail and depth you made it difficult and need the u.s. on board. i won't say it is a coincidence but mostly american. you know with that global agreement. you end up being unilateral being against it and in the sanction where it makes it difficult for any other company to go ahead with the consequences from that decision. >> dexter, it feels as though the world has moved on from when we started to discuss digital taxes. one view was that these companies, the faang would pass on the transaction tax since then, the e commerce has gone a

even the idea it's not just about digital art, though your digital art you've been prolific and it'sis in with physical experiences so where does this go from here? >> yeah, i think there's a bunch of different ways this can go and i look at nfts as being such a blank slate, honestly, even beyond digital art obviously you had gronk on with sports collectibles. i think with concert tickets, you saw kings of leon. i think this is a technology that has so many youth cases and with restrictions with covid we're honestly not able to see a lot of the use cases so i feel like we're at the beginning of scratching the surface of what this could be used for >> some of it, correct me where i'm wrong here, is about luxury and uniqueness because i look across what kings of leon did with the front row seats for life, what gronk is doing with the memorabilia, what you're doing with this artwork and without having to have as many middle men authenticates what it is you're getting and ties you to kind of the process of creation, the kind of possibility of being a patron in the old school sense, is th

>> well, again, i think digital ad sales are probably the good and the bad as i think digital programs be cut very quickly as well, but i think they've been a beneficiary here and the daily average users of i think they came in at 229 versus 220, 4.5 expected this is very bullish and it's hard for me to feel like all these structural and maybe even kind of headwinds in terms of their audience were changed overnight. i think it's a company that as dan said, certainly the ship has been righted, but the growth and the dau growth is very good and all relative to expectations in a short interest base. i'm not a buyer here, but i do think the stock can move higher. >> we never defined it, by the way. >> that's why i cued you before. >> average revenue per user. >> we'll say it and then explain it >> yes our audience is so bright that i assume they watch this over and over again, but rpus, whether you're talking about a twitter or a mobile service, even snap, yes, that is rpus. >> thank you for that. we want to round it out with texas instruments and the chipmaker topping wall street estimate

how can they move into the digital economy? look at the entertainment industry, everything is going to streaming. you look at the medical industry you have more and more telemedicine education is more remote learning retailers are all going to a digital first strategy instead of predominantly thinking about physical location. they're now thinking about how do they take advantage of their physical locations not to drive shoppers into the store per se but to basically use them as distribution mechanisms when consumers order online and so i think we're entering into the era of the digital economy. i don't think there's ever going back to what was i think we're moving into a new pa paradigm where things will be done more efficientlily, securely, faster than ever before and there will be more added benefits and value to consumers and to merchants as a result of that >> talk to us about strategy specifically for 2021. based on these trends that you're talking about and where bottle necks still exist you think you can remove so that t

and 50% digital penetration longer term.n other words, nike is using the web to steal market share. they are cannibalizing it. nike makes more money if you buy the shoes from them rather than footlocker this is juicy. as the stock makes new highs, we bounce for the trust as we take profits in the high flying tech stocks that i told you over and over again had gotten too hot and i want you trimmed what made it confident some analysts hedged bets, we got channel checks that talked about descent numbers in north america and real strength there greater china and put nike on the best with $150 price target very smart call. both analysts who had things most of all, i figured nike could be a covid winner because it benefits from digitization. the stocks belong to companies that do better in a pandemic and nike is no different we know the chinese economy and the great outdoors theme and we seen incredible numbers from every business related to hiking and camping because it the only way to safely go on vacation i told you to buy nike

the rising risks as china develops its own digital kerr aents. could it change the game for the entire global economy? >> later, the big bet. why some investors are rolling the dice on a casino comeback in macao. the three stocks you need to keep on your radar we start with new developments out of the white house at this hour the biden administration issuing a warning to u.s. businesses operating in hong kong the message, the risks are rising there as china cracks down on democracy. cnbc's eunice yun in is beijing with more. >> just the threat of president biden's advisory to u.s. businesses operating in hong kong set off chinese officials today. the official overseeing hong kong accused the u.s. of attempting to embolden anti-china trouble makers and vowed china would retaliate against any further sanctions on its officials. president biden wants u.s. companies in hong kong to be aware of what he described as the deteriorating business climate under the year-old national security law, such as electronic surveillance without warrants, u.s. deputy

weighing using new tax revenue including the digital tax. there are shots of this meeting getting under way now. let's get out to sylvia for more what can you tell us what you've heard so far from some of the key ministers? >> first, this is a new formal meeting. that is important. that tells us they are not going to announce any measures or proposals today but that they are having important discussions. the first is on the state of the eurozone economy we heard from the ecb revising the 2020 gdp forecast after recognizing the economy has performed slightly better than what it had in june. slightly contrasting from 8.7 to 8% in 2020 nonetheless, there are still a lot of uncertainties of how the economy will perform in the coming months. on the condition of the economic affairs. >> recovery is on the way but we still have the level of uncertainty on the speed the mission for the euro group and ministers is very clear. we have confidence and strengthen growth then the next important discussion ministers will have today is that in the afternoon

if you're not a digital media company i'm not sure, your future will be very bright we started in digitalp media companies, period, and we will keep growing from there. >> well, fair enough every company is a digital company and every media company is certainly a digital media company. jim, thank you so much to talk about this big deal. >> thank you so much. >> take care >>> after the break, another downgrade to mention evercore isi taking dell down in what they call a no-drama downgrade for more balanced risk reward profile and thinks upside could be more muted. we'll be rhtacig bk. you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. ("jingle bells")

even in an environment where offices reopen we want to make sure that companies have digital at the center of how they're running their operations to be able to be more efficient and more productive and serve their customers. these are trends that will last and it's much of more an acceleration to where the world was already heading. >> as some of these trends -- i understand the benefits. work from home, move digital and virtual, but i want to dig into the disadvantages or potential disadvantages you see and one that's brought up is tech companies now moving these conferences, so important for these companies, they're going from in person and physical to virtual, box's big conference this fall so important for your company it's going virtual are there possible disadvantages to that, though, aaron when we talk about those conferences, a lot of people love those conferences because they are in person and you get to grab coffee, grab a drink, you get to network is some of that going to be hard to replicate as it goes virtually? >> i think what has happened in this environment is i thi

setting the tone for another chip company, western digital.ould impact storage at broad com. demand for chip makers has turned sharply lower recently. we know that we've talked about it a lot, but now that weakness is spreading to industrials which means the bottom may not have settled in just yet >> all right so here's what i'm looking at, the chip market, especially for cars, seems like it's resilient. is it. >> seems like it's resilient because it's the only one that hasn't been hit by a chip shortage maybe i should say this is an example of how the auto industry failed in the planning in the heart of pandemic 2020 they cut their chip orders assuming cars wouldn't be purchased by americans across the country. we know, everybody bought a used car, everybody bought a new car. they had already stopped their orders suppliers had shifted that capacity to other companies. when the automakers came in, they were behind in the line that capacity had already been given out to the others. now they're reaping the benefits gm ceo said they're still feel

the biggest gain in almost two years in that category digital ad revenue up double digits and hiked edividend by 25%. the stock is up about 35% this year and since president trump was elected, shares are up about 170% here for a "power lunch" exclusive is mark thompson, the ceo of "the new york times." good to have you with us >> hi. >> mr. trump has been good for business, hasn't he? >> no question not just donald trump, but the whole news cycle has been very good for business. i think if we were talk iing tw years aelg ago, i think we'd be saying the surge was closely focused on the election. and on the washington cycle. what we're seeing now is much more broadly based we're seeing lots of different kinds of stories moving the dial ve investigations, me too coverage >> the facebook coverage has been quite brilliant >> tech and more broadly business coverage has gotten stronger and strok investment teams. breaking more stories across a really wide front. by the way, features, lifestyle, culture. that breadth of what the times does it's beginning to for us when i think b about what we'

, digital, as in the internet, digitalization because digital is no longer the future it's now at thispoint it's a question o survival your business either goes digital, digital or it goes down the drain. that's why i keep coming back to this theme including on sedate days today when the dow lunged will 6 points and the nasdaq .23%. with or without the pandemic, and, of course, the pandemic is going on on everybody's minds particularly because i thought we'd have more doses faster, and we're not going to, we have to start talking about some other things that can make fabulous long-term winners. some of of this stuff is so obvious it's in your face, or at least in your hands. look, we have cell phones, right, and then we got smartphones and now the smartphones are miniature personal computers, something like a s&l tough to miss because iphones are everywhere and demand is off the chart. same goes for the watch, the earbuds. we all see that. that's the technology in our face, the prolonged letter and when i tell you business needs to go digital or go broke, i'm not talking about anything else

version of you and you have a whole digital wardrobe in your digital closet. >> i can buy digital clothes and digital food. >> that is a revenue stream. they're not there yet and there's lot of competition i don't think buying the video game stocks is the way to play that. >> we're not at peak video game. we are getting to a case where it could be peak competition and 15 times very cheap right here. >> so we ask is the group heading for a reset? joel is head of technology training at webbush. great to have you with us. >> thanks for having me on. >> when we see these two negative data points out of ea and take-two, do we think there is an industrywide theme here? is it the competition of fortnites, or the move to the freemium or these individual stories that shot themselves in the foot >> it's a combination of everything you guys touched on earlier. you have an investor base which is reassessing the multiple that the group deserves we're seeing a mean reversion to the multiple from historical levels do i think some of today's price action is a little bit overexaggerated to the downside? p

there is an ongoing investigation regarding new digital tax.he institution is meant to come up with something no later than the end of 2020. suggesting at the start of the year this this digital tax should be voluntary for u.s. companies given that these are the largest tech firms worldwide. it was a question of time to see the divisions over digital tax that many countries are desperate for fresh revenue. as we heard from the european commission, they intend to come up with additional revenues one was the need to come up with the content across the eu. one was the economic shock from the pandemic i asked earlier this morning if he thinks that the proposal would end up in a trade war with the united states >> it is something that has to be finalized at the european level if we could not find refuge in row teksism. i do not think that this is data as well. >> there is still no agreement over this recovery plan. no agreement over the eu countries whether they should indeed pursue the digital tax for money to deal with the economic crisis that is

even the fed has floated the idea of a digital dollar arguing cash will soon be obsolete an economicsr fellow at brookings. it's great to have you here. you're a longtime observer of currency rates and so forth. it's eye roironic because we mi have a ways to go here, right? >> it's important to make a distinction between a central bank digital currency and cryptocurrency cryptocurrencies are run privately. they do not have any government backing. they provide at least some degree of anonymity. a digital dollar would essentially be similar to the dollar bills you have in your bill fold except they will be virtual so you would have them on your phone and could use for digital payments it's important to understand this is not the cryptocurrency in that sense. >> right i used to be confused for the need for a digital dollar because i would think the dollar is already digital i don't use cash already i pay with dollars digitally all the time looking more closely i think the crypto space has helped me understand the need for kind after crypto dollar coin that could stay within that environm

my prediction here, jon, is that companies that are digital, that can lead this digital transformation revolution, will prosper through this time because there are so many public sector and private sector entity i -- entities that must change i do believe we are going into a totally new normal. not dissimilar, think about it, we're going to have to figure out whether it's three weeks from now or three months from now, how you're going to get back to work business continuity must continue think about all the processes that will have to change i like to think of this as a physical distancing, not a social distancing because our processes on zoom every day has us connected to the management team and the people throughout our company. while we are physically distant, we have socially kept the conversation going we're continuing to pursue our goals because that's what the world needs from service now >> bill, morgan here, it's interesting to hear you talk about the acceleration in terms of a digital transformation. whether it's your enterprise i.t. clients, whether you have reached into cus

9% of total sales lowe's digital business not as advanced as home depot which saw digital sales growin two years with 55% of all online orders fulfilled by home depot stores william sonoma is the parent of pottery barn, west elm and other brands saw 64% growth since 2019. giving us a two-year comp but ecommerce now makes up 67% of total revenues one of the biggest that there is footlocker is the outliar so far. digital comps down 4% year over year but making up now 20% of total sales. and that has tipped higher year after year, particularly in this last year. >> courtney, we used to talk about indoor and ecommerce being like separate businesses but omni channel has turned that on its head. for some reason i'm guessing that a number of the retailers you mentioned that have heavier items are the ones that have some pretty high ecommerce sales and part is curbside pickup and the story is more about overall efficiency and less about choosing one channel and not the other. >> exactly, john so, i think that's a great point with home depot. if it's a really heavy, bulky item, it might be ea

what is right and wrong in digital world.onia has this space, you can use it as a sandbox for new ideas in a safe form not worrying that maybe afterwards i have to apologize, i offer digital service and someone found a way to misuse it we offer this kind of digital sand book. what was behind estonia's decision to choose to invest in this digitalization mprocess? >> it was not a question of firing people from civil service in order to cut costs and replace with digital, we were only developing our service software to our people we did it straight away digitally because it was simply cheaper. easier also people found it convenient. now the process has become citizen driven >> can you talk about any lessons estonia might offer to other countries looking to become a digital society like you are? >> if you want to be the best in digital, in ai, you cannot do it by spending public money or doing clever public procurement. what we do here, we become quick technology followers, offering private sectors a safe, legal environment to tr

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digital starters yet to figure it out. lot of people are going through that i think cloud is a great example where people talked about pullback on cloud and those things you have to recognize, you know, aws was a $500 million business in 2010. they're going to be an $85 billion business this year that is a massive growth rate. and so there's some digestion of people saying, how do i really use cloud effectively? how do i want to do this i think we're seeing some of that in terms of people starting that out ai is going to be a similar thing, i think. >> if demand is not a problem and you're seeing plenty of it, what about supply, do you have capacity to meet all that? >> super question. i've often said over the last several quarters that i'm more concerned about supply than i am about demand i think we have to continue to be cognizant of can we put the capacity in place, things like availability of power and permit our use. those are things we're working closely with our partners on and something that i think as the market

stay with cramer >>> coming up, the tectonic shift in digital payments is at your doorstep.urrency drive growth or make this stock a bumpy ride cramer's got the ceo next. my hygienist cleans with a round head, so does my oral-b. my hygienist personalizes my cleaning, so does my oral-b. my hygienist uses just the right pressure, and so does my oral-b. oral-b combines a dentist-inspired brush head with the gentle energy of micro-vibrations for the wow of a professional clean feel every day. my mouth says wow and so does my oral-b. (judith) at fisher investments, we do things differently and other money managers don't understand why. (money manager) because our way works great for us! (judith) but not for your clients. that's why we're a fiduciary, obligated to put clients first. (money manager) so, what do you provide? cookie cutter portfolios? (judith) nope, we tailor portfolios to our client's needs. (money manager) but you do sell investments that earn you high commissions, right? (judith) we don't have those. (money manager) so what's in it for you? (judith) our fees are s

they're not in digital advertising. they're in media they have a toe in the media business that's the one to watch for me will it help drive the device sale i think back to the fang stocks. i also wouldn't put them in the same bucket. google is probably your safest bet there. they have an absolute dominant position in the digital advertising business that they are the place you go to spend money. i think facebook has operated really well. as efficiently as any company in the marketplace. i'm a little suspect about the long-term growth there unless they diverse identify whiify. amazon is my favorite company in the world. i said it here before. that company can do almost anything it wants. it doesn't a taxes and is almost a half a trillion dollar market cap company so i like where they're going in every different category to me, netflix is the one that i worry most about $20 billion in debt. my guess is thaer going to have to take a write down on that at some point 100 million global subscribers or more. that's good news

we were going to move into direct to consumer and digital, we're very happy with it we're on plan.are the numbers publicly, but we feel good where we are and we're on plan and the important thing is we have -- look, we have a media strategy that is based on reach. we broadcast contracts we're very happy with. what you see with nfl plus and what you'll see with sunday tickets and other assets is a push into what we see will be the future which is combination of tv linear distribution along with linear distribution >> thanks so much for joining us ahead of the big game on amazon tonight. i understand you're about to get on a plane with jeff bezos and we'll let you go thanks so much for joining us. >> all right, julia, good to see you. >> one more thing in the show before we go, if you're struggling to return to office, well, so is tesla and not for the reasons you may expect cnbc out with a deep dive on the company's struggles after the ceo elon musk informed employees they'd be expected in office a minimum of 40 hours a week three months later employees have come in, but there's not

that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale. the game doesn't end after a spectacular touchdown grab because there's always another team looking to punch one in. with nfl redzone from nfl network on xfinity, you get every touchdown from every game on sunday afternoons. all season long. watch every breakout star, every heart pounding running attack and every big-time defensive stop. sunday's were made for football on xfinity. that's simple, easy, awesome. add the more sports and entertainment package for nfl redzone. click, call or visit a store today to learn more. >>> there's another big software ipo to get to this morning, not named snowflake. the israeli born js there frog expected to have its first trade at the nasdaq any moment now jfrog ceo joins us now congratulations. thanks for talking to us this morning. >> thank you for having me good morning from california >> so, tell us what are you planning on using the proceeds from this ipo for? >> jfrog is a dev ops company. we're focussing on a mission we call li

ad risen dropped by double digits for the first time digital revenue overall outpaced print risen. here is mark thompson, the ceo and president of the "new york times. welcome and congratulations. you're stepping down in a couple months to be replaced by your c.o.o. congratulations on a good run at the times. >> thank you. >>> i know one of the things you wanted to do is push the times into the digital present or the digital future how would you say it's gone? now you're leaving with digital revenues greater than print revenues. >> it's a big watershed moment for the company. we don't think it's likely we'll go back from this moment the times is a physical paper. it's a great newspaper it remains pretty strong, which is why it's taken a while to see this crossover point, but digital as grown enormously over the last eight years when i've been chief executive something like 360,000 digital subscribers, and we're getting close to ten times that, 5.7, i think digital subscribers. and total subscriptions are four times what they were indeed as much as much larger than the glory days of

now enter the digital world. that particular placement we now provide that particular salesperson with an enormous amount of data by which they can precisely say, i can actually increase my cpm by virtue of my knowledge of all the data. now the marketer on the other hand, they're willing to pay no a more targeted ad. if it's forte and they want to promote their f-150, but a certain promotion in california, they might want to promote it to males 25 to 35 in california. >> you have that data. >> we have that data. what also has is very important. that particular ad in the digital world, that ad will change 100 times during the course of a day and probably 100 like them on their entire site. now you must have the data and you must have the volume, so we assist with both rate and volumetrics. >> great to understand this, this is very important. it's the new world. thank you, the cfo of rubicon. "mad money" is back. >>> coming up, a new place to repair your mac? gamestop has brought in new businesses to hit reset in a

back then, ceos knew that double digit stocks were more attractive to investors than triple digits. they tend to buy and hold like hedge funds. these splits were your reward for staying put, even though, again, everyone recognized that splits don't create any value. over the last 20 years, individual investors became less and less important as a series of crises scared people away from the market. so ceos stopped catering to home gamers and started catering to big institutions, which love high dollar stocks when they trade, they pay commissions per share. it's cheaper to buy one share at $460 than four shares at $120. money managers would bid the stock up and beg not to split. now we have a cohort of investors, thanks to the rise of commission free trading. they would like to own amazon. they would like to own alphabet but turned off by high dollar stocks individual investors could be their best friends if they would split their stocks like apple and tesla just did unlike hedge funds, you don't need to charm them, you'll never launch a proxy fight to bring in these people, ceos need

>> yes, it is an expansion of digital. if you look at the dealer to dealer market, the cars being traded just between dealers, we size that market to be somewhere in the order of 12 to 15 million vehicles on an annual basis and this is a space that's very important to us and a space that we absolutely want to win going forward we had a company performing in this space in the name of trade rev and trade rev was doing well in the past years but we felt that if we really want to win this space, we need to double down and we identified backlog cars as one of the competitors we really liked the management team we liked their business model. and we got together with back lot and able to acquire that company and we doubled down and we demonstrated to our customers and our investors we're in it to win it and we feel we're in a strong position as we integrate these companies and go to market in 2021. >> of course, jim, when you go all digital, you don't need as many people to run this company? >> absolutely. true. >> so i'm looking

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digital works for retail.out how digital works for your business. >>> tomorrow we'll be right back here in san francisco with more conversations, some of the biggest names in technology. you won't want to miss it. i like to say there's always a bull market somewhere. i promise to try and find it just for you right here on "mad money." i'm jim cramer, and i will see you tomorrow. >> a million-dollar idea just takes imagination. >> a million-dollar invention takes a whole lot more. >> you need guidance. >> you need money. >> you need us. >> i'm george zaidan. i'm an m.i.t.-trained chemist with a passion for inventions. >> and i'm deanne bell. i'm a mechanical engineer, and i can get almost anything built. >> getting a concept from paper to prototype to market eats up so much time and money, countless ideas just never get made. >> i've took money from my grandparents, my parents. >> but i'm not an engineer. >> there's no way we can do this. >> that's why we're on a nationwide mission to rescue them. >> pick up so

simple parker used digitization to develop personal sneakers.nd i'm not speaking anecdotally here, this sim peis empirical on nike's latest call, the word digital was used 59 times. as parker explained, their initiative to sell directly to consumers, nike digital is leading the way for differentiated retail, up 36% for the quarter. how do you get that kind of growth ultimately it's about becoming more personal at scale, they told us in a brilliant exposition, a tutorial how digitalists made it possible for customers to wear their nikes of choice digital is allowing the company to get 2 x innovation, and how we serve through 2 x speed they're mining data and using analytics to make it work. now, many industries are trying hard to become less commoditized kb holmes this week talked about how new houses can come with a google home system i think it's not necessarily a needle mover car max reported a strong quarter, but the used cars are giving consumers a choice how they buy their vehicles. that's not what this chain had in mind when it helped star

he said at their location it was 70% digital.t's interesting >> i am glad to hear he's an employee or a former employee always good to have alumni. >> last question, on loyalty you have 24.5 million members, grown that in under three years. why is that growing so quickly is it mostly young people? how are you hanging onto these customers? why is it working so well? >> one of the things that's been really amazing is obviously when we had to go to all digital, it gave people experiences with our digital ecosystem. one of the key pieces of that puzzle was the rewards or loyalty program. we are now up to 24.5 million people the team has done a great job figuring out how to communicate with the people who joined the program so it is engaging not annoying it results in influencing behavior which we see more through frequency of purchases the other thing, since we launched the rewards exchange where it allows you to basically get rewards with lower points versus just waiting only to accumulate points to get a burrito. we see that having

>> well, we're certainly looking harder at digital advertising.ed a great new head of advertising, meredith levy has come from "forbes." and we are looking hard at ways of turning that slight decline, but it must be said consistent decline in recent quarters of digital advertising back into growth. we're very pleased with the progress we've made on the print side. but it's very important that we get digital advertising back to growth. >> and how do you do that? >> i think innovation. i think we need to recognize -- >> people don't click on ads, do they? >> i think that we're seeing across the entire industry a shift away from what you could almost call traditional display advertising. that first wave of digital advertising. video is incredibly important. above all, trying to make sure that you've got, whether it's through special custom advertising or whether it's through more effective use of programmatic advertising except the machine-to-machine buying of advertising is here to stay. we need to be more aggressive, innovative and effective. >> bu

scratch that out it's the digital platform. so digital needs a platform, not a dashboard.o years building the new relic one platform in anticipation of where the market is going our customers want one platform on which to see everything going on in their digital business, application performance, infrastructure, and most recently log machine data, all in one place that place is new relic one, which is the platform on which the future companies are going to make their digital businesses successful >> okay. if that's the case, november 5th, an analyst who likes your stock, says this is for longer and thus disappointing first reported billions growth in guidance very weak. billings growth was 1% year-over-year that does not sound like growth, lou. >> well, we've been investing for the long-term in building that platform, jim we anticipated where the market was going, and we did that while we were investing in that, we did that at the cost -- >> excuse me >> no worry, no worries. there were some short-term things we might have done where we were not investing for the future bu

digital works for retail. talk about how digital works for your business. >> he was a pioneer in the streaming business paving the way for companies like netflix. let's talk netflix. you're a shareholder and you're a true believer in read and what that company is doing. has any of that waivers at all. >> it's nice when you're right. but nothing has changed. in fact i'm almost at the point of i don't want to say, quote, double down but to the point that i admire them even more. there's a theme i look at with successful companies over and over again. in the sports industry you try to find a great coach. in the movie business you try to find a great director. in these businesses i'm trying to find great leaders. and the folks that you trust to make the left and right turns. reid focuses on one part of the business. ted is very much the hollywood creative content force. these two guys, basically, to use an old anlage, they have been playing chess while everybody has been playing checkers out there. a few years ago

, digital experiences.ent you have to take a step back and understand how much of the growth the companies such as you mentioned saw in 2020 was driven by pandemic tail winds and what you see in the sector around valuation and as the economy reopens and cyclical stocks start to do better, the scarcity of growth in software is not where it was a year ago and so companies that may have a tougher setup in 2021 because of tail winds they saw in 2020 were a little bit more cautious on those, thus our neutral rating >> should i read this as, in a way, an indictment of these companies' ambitions to build new platforms, because that's, in particular, what salesforce and i think adobe are arguing for, this experienced platform i'm looking across and see zoom, also, you're neutral there that stock has been pretty hot they are arguing they're building out this new type of communications platform. are you a little skeptical that's going to happen even in the medium term? >> well, zoom is a company that's having a lot o

that's why it's time for digital currency and your investment in the grayscale funds. go digital.o grayscale. >>> walmart awaiting details in it's long awaited program. subscription $98 a year. members with a minimum online order of $35 will receive free shipping joining us this morning, stephanie meta good to see you again. >> they are the spectrum of offerings, what is your stake? >> i think you're right, it is still early days, but this is a significant announcement from walmart. they are really trying to enter, i think, into a direct competitive situation with amazon and one of the thing that's we have been writing about at fast company is one of the senior writers that has been writing about the way taking on amazon in a big way it is about ease of use for a consumer not about making it affordable increasingly making it something it doesn't frustrate their us s users. >> to the degree that it lacks a media component, it's hard not to talk about walmart and tiktok especially this month. is there a growing since that that would be an early entree into offering things like conte

it's a digital version of its currency, and it has a lot of advantages over the non-digital version. i won't rattle them off. but if you want me to, i will. versus a non--- an alternative currency so using blockchain technology and so on, that's a different thing than having an alternative kur encircle and bitcoin is an alternative currency versus the digitalizing but i think that you really have to consider how the remember nb will work with bitcoin. >> but they completely take over the crypto market? >> no, nothing ever takes over anything, but i think that if there was an internationalization of a digital -- of the remember nb and that there was then with that the appropriate interest rates that go along with the pricing of the currency, that it would be a very viable alternative to a lot of people you're not going to have that much privacy but there's not that much privacy anyway i think we're going to enter into a world in which people will be thinking which currency. and the ones that have the best fundamentals will be the ones that will be most comprehensive, and that will be

tether today is what people use as a digital dollar.ows what's backing tether today so it would be great for the ecosystem. >> the trust and confidence of other tether users >> the faith, exactly. but there could be a run on the deather bank a lot of people could be out of luck >> it's a big story. you're the perfect guest lou, appreciate you coming on. >>> a tough sign of the times for boeing the company did not book a single new order for any of its airplanes on day one for the paris air show that is if not rare unheard of by comparison, airbus reportedly locked in orders and options for 123 new planes the lack of demand for boeing comes as the company works to return its grounded 737 max planes back to the sky shares of boeing not reacting to that they're actually up. ge aviation is on track to book a record amount of orders for itself the company booked 24 billion in orders of engines and services on day one of that air show. that includes a $20 billion order with indigo airlines out of india ge's stock is up g eshg is ge stock is u

assets were digit.'re looking at a business that's more than 43% rotated toward digital where we continue to work with our lenders, servicers or trustees >> sorry, marc your connections a little spotty here i think what you were saying is you were hoping to pivot to become about 90% digital infrastructure assets. as you do that, as you look to kind of pivot that portfolio, how do you manage to sell off some of those legacy sates in a time of economic stress for legacy real estate, for traditional real estate? how the you plan to do that? >> there are pockets of commercial real estate that are holding up and performing well we think about the over 300 million of dispositions that we made this year we made a smart decision at the beginning of the year to exit the new york office space. we had a great partnership we had a successful exit there our departure from retail shopping centers were partnered with albertsons. we made that departure this year as people continue to rely on shopping centers and eating

we continue to believe that, you know, as long as digital remains front and center, adobe will continueo do really well. >> tell us about this q2 guide i understand that, you know, covered you guys a long time you're not going to raise your full-year outlook at this stage during, you know, q2 report, but what are you seeing that caused you to maybe wait things a little more towards the summer seasonality and be conservative in the guidance for q3 >> well, jon, we've had a great track record at max we typically give color for the next year. we updated that in march as a result of what happened with the move towards section 606, but from our point of view we typically do not update our annual guidance at this time we'll give more color in september for the q4 quarter as well as at max give guidance for 2020, but as it relates to the fundamental business, when you think about digital media, arr and the entire creator space, we had a very strong quarter, over 400 million in q2, which is a record for q2. if you look at our targets for q3, again, they would be a record 360 million is what we

if people arbitrarily want to put digital taxes on our digital companies, we'll consider putting taxes on car companies >> i take away from that, you can industry can expect some reciprocal tariffs >> we'll have private conversations. i'm sure this can be worked out if not on our level then between the president and prime minister >> there is a very clear threat there? >> again, i want to be clear i think this is an important issue that we'll deal with going back to the more important stuff. >> let's not get side tracked. i don't think the markets are worried about this i think they are focused on two giant trade deals the u.s. just did. phase one is very, very important to the u.s. and china. the usmca is important getting this trade relationship with the uk is fabulous for us and for them we'll also be having trade conversations with the eu. this started yesterday that will be a focus of this year as well there is still a lot to do on the trade front. by the way, i think we are going to see on the u.s. economy, very positive impacts of this in 2020 >> it is always interesting to brin

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how does a greeting card company stay ahead in the digital age? >>> money movies you should make no matter who wins the election. >>> and winter travel concerns. the best bargains you'll find. >>> remember were when you were a kid and wanted toed to try o the circus? well, our kate rogers actually got a shot. >> oh, no! >> "on the money" starts right now. >> this is "on the money," your money, your life, your future. >>> we begin with the election. how secure will your vote be or tuesday? we don't mean allegations of voter fraud or a rigged election but there are concerns that voting machines can be vulnerable to hackers. the department of happily lond security has acknowledged hacking attempts in 20 states. andrea day has the cover story on election hacking. >> we have something that is owe critical to a country. >> reporter: he and his group at symantec decided to find out just how easy it would be to hack in and manipulate the election system. the first step, the team tracked down an official voting machine for sale online. >> literally took a

also we'll focus in on king digital today. king digital shares called higher by 14.5%. this is because activision bid a 20% premium for the last close of the making of candy crush and also farm heros as well. >> fitbit has reported better than expected third quarter results as sales of its wearable fitness devices more than doubled. the company also issuing an upbeat outlook expecting very strong demand but shares fell in after hours as fitbit agreed to lift lockup restrictions early on. more than 2 million shares. the company also announcing a secondary offering of 21 million shares. let's have a look at price action in german trade. we're down some %. the selling of shares. insiders when they're selling no one likes it. particularly in an early stage company. >> this is a lockup that was agreed to during the ipo. a strong quarter so they beat on revenues, they beat on profit and i think this also indicates that maybe fitbit surviving in a world where people were concerned that the apple watch would take over. doesn't this say to us if they're still continuing to domin

digit all. 70%, to 80% want a digital experience it's hard to keep our sellers safe traveling is dangerous situation you have to deal with, the covid situation in that particular country. plus the amount of savings is just panning out to be this one singular event changing sales to completely being a known line, you know, from your office or from home kind of transaction that's correct measurable and that we can optimize it, with he can make it, even more personal, because we have technology all over it. >> ralph, you know from big technological changes, having worked in at&t's consumer business for the launch of the smartphone on the business side, as the cloud was gearing up, how did this board on outreach thing happen >> well, it happened on your program. that was the beginning of it, john manny and i had never met, but after we connected on cnbc, we continued to discuss and finally managed to say i would love to have you on my board the amazing thing, when i look at manny's business mod the and mission for outreach, i completely related to the experience ed at at&t, where i was respons