bill mcdermott will be live to discuss. another very strong day for the cloud names. let's get straight toour big story of the day the market selloff mike santoli is tracking the action all day long which does appear a bit better in terms of the losses, mike >> yeah. this was a day when we sold the rip in the morning and then bought the dip in the afternoon. so this idea of a range bound trade is sort of solidified right now. some resilience under the surface. this is a year to date of the s&p 500. so remember, this is june 8th high, 3232 for few days right now we kind of have been riding up on these lefrlz of 3170, 3180 not really breaking down but also has not kind of mustered up the energy to get through. also still an uneven market. the equally weighted s&p 500 still down more than 1%. you do still have mega cap growth carrying things for now it's been working. hard to say exactly what is going to make it stop working. take a look at this breakdown if we want to isolate the influence of large cap technology on this market so we do have the tech sector spider up 18

let's bring in bill mcdermott the company's ceo to discuss it in more detail bill, always good to have you. i want to start off on something that might be pressuring the stock and it's not related to your numbers, but to your head of sales and a planted departure. it was noted in the call sort of halfway through the call, but it did seem to take some investors by surprise. i wondered if you could discuss it in light of the fact that it may be pressuring your shares. >> right as you know any change to the capital markets raises questions, right so david schneider is a 35-year sales veteran, has been with the company for nine years, had a great career, the first day i met him last year he said he was going to retire at the end of 2020 so kevin hafferty has been running the number and leading sales for us for six years so there really is no change and david is staying with me until the end of the year and we have an outstanding management team, there's no fundamental change to the coverage model, who is running the number and the execution with customers so they need not worry we're good.