this will be a really important moment for the ecosystem and warby parker has a big brick and mortar footprint suppliesed to read, what is it 145 retail stores. a big part of their strategy >> yep >> going to be fascinating to watch. covered david neal a long time wrby the ticker. >>> meantime, ceos of leading tech and finance company ies meeting with the president discussing cybersecurity threats. a busy afternoon eamon? >> carl, heard from the white house cybersecurity adviser on cnbc within the past hour talking about what to expect from this meeting with the president later on an all-star cast of characters coming to the white house today. watch for the idea companies might make announcement how they're going to bake in security technology into the hardware and software that we produce. think about that as you think about the types of companies that are coming to the white house today, what kinds of announcement they might make later today. also talked a little of an idea of insurance and what it does and does not incentivize in the cybersecurity space. take a be listen. >> insur

hey, picker. >> warby parker is one of the more anticipated ones this year. they're the purveyor of the glasses known for disrupting the industry by launching a direct to consumer model with a price point far below the legacy players thanks to e-commerce over time, they morphed from pliks to bricks to 145 retail stores responsible for half of the revenue and the rest is online still, the company faced a significant top-line slowdown with growth of 6% in 2020 and that's rebounded this year, jumping 53% during the first six months on pace to post more than half a billion dollars in net revenue in 2021. warby remains slightly unprofitable, although losses have been narrowing this year. unlike a typical ipo, this direct listing does not include a capital raise. however, there is no lockout for t roe price and durable capital as well. they valued the company at $3 billion a year ago. now it's shaping up to be a busy fall after a record ipo run and they could join sweet green, amazon-backed maker rivian and tpg as several companies, at least, looking to make their

>> i would take a look at warby parker i do think they have opportunity to grow in a service model ifet the return contact purchasers, that could be a great revenue source so, i think if i had to pick -- and i don't like dutch brothers coffee either. >> steve >> so, i agree on the 2% area of growth in the contact lens but even management is not sure they can have consistent earnings going forward we're going to keep the show consistent i'm going to go dutch bros on this one they have drive throughs and that's what the segment is reaching for >> finally the battle of the banks. financials have overtaken tech as the sector with the most share buybacks after a record setting week of them, four banks announced billions of dollars in new buybacks last quarter. thetwo largest, 30 billion for j.p. morgan and 25 billion more b of a are buybacks part of what would make the stock attractive. b of a or jpm? which one is more attractive to you? >> on our work it's jpm, kelly and i think we've been making an argument that buybacks across all sectors have been putting a floor under the market and t

says warby parker going public on the new york stock exchange by direct listing under ticker symbol,isis and recession. gutsy and now they're going public. 15 million shares of class a common stock. i have a got a question for all of you. are you single stock kind of investor or etfer? you feel more comfortable with baskets of stocks? we have sam stovall heretofore both types. sam stovall, director of research and analysis and favorite stoke pick and etf. let's hear it, sam. what do you like right now? >> hey, liz, good to talk to you again. you no how the definition after investment strategist when the analysts do the work and i take credit. so i want to take credit for what john freeman did last week. john upgraded roblox to a five-star or strong buy recommendation after it reported earnings. he also increased its target price by $4 to 9dollars a -- $9a share. basically impressive top-line growth, revenue, bookings. high growth in the active daily users and finally strong numbers for the 13 and over demographic. so he is very optimistic out look for the stock. liz: well, yes, these

warby parker just decided to do one.ever, these still seem to be one-off events, one-off choices. do you see the pendulum actually swinging, where a significantly greater number of companies will choose a direct listing or a spac over an ipo? and if so, when does that happen? bill: every time i see one of these i am super proud of the founders who are pushing forward, because it is just a smarter, more elegant way to take your shares public. and to not do it is to actually just to be subjecting yourself to a cashectemy from a bureaucratic process on wall street. but the people who are choosing to do it are some of the best and brightest founders out there, and independent and confident. emily: robinhood did go the ipo route and it did not pop on opening day. is that an example of a well executed, well priced ipo? bill: i do not know the details of what happened. obviously it is way higher today than it was on that day. i think it is an odd example to think about from a comparison standpoint, precisely because they did so

. >> warby parker, the online retailer, filing to go public with an offering up to million dollar shares of class a common stock, according to an sec filing under the ticker symbol wrby in the private market around $3 billion, according to the last fund raise some of the prominent investors are tiger global among others. seema mody, thank you. >> i wonder if it things how ipos in general are going. >>> probably with this -- it's also been around but nothing that seems like it's necessarily a need for fresh capital, growing revenues very strongly, even in the past year or so, so i do think it's an interesting name it's going to be thrown into the interrupter bucket, even if the overall categories is not necessarily going gangbusters. >> chinese internet stocks are soaring today. deeb ra bosa has the story for us hi, dee. wilf, two words, bargain hunting. at least some investors are deciding to wade back in, including cathie wood who bought shares of the -- on the back of its results. those shares are soaring up nearly 20% today, alibaba up 10%, pin duoduo is up today asking for more risk

warby parker is another one. brilliant earth, which filed its ipo yesterday, so a lot of these companies have the sustainability idea to them. it will be interesting, though, to see what that means in terms of their valuation, do they command a premium as a result of that orl other things cup to the forefront. >> i think it's so interesting, leslie, and also one would compare whether the products in the consumers' eyes command a premium. esg a factor that definite li goth consider, but we might be overpaying this. it's kind of a cost of doing business to all companies, even the exxons of this world, that they have to check that sustainable box, and therefore, i think, that those premium -- anyway, we must pivot away and get to shepard smith >> the white house pool has notified that the president will be out in about two minutes, and what the road is forward regarding all of those who have been left behind, depending on whom you believe about the numbers, hundreds, 100 to 200, maybe more, have not yesterday been a

a private union toll brothers bested from low overall housing inventory and low mortgage rates warby parkera direct listing the they plan to list on the new york stock exchange under the ticker wrby. the report on mortgage applications is out. let's get the details from diana oleck. >> reporter: rates dropped for the first time in three weeks. it was enough to juice refinance applications by 1% for the week seasonally adjusted. applications for loan to buy a home rose 3% for the week but 16% lower than the same week a year ago the purchase index did hit its highest level since early july but buyers are hitting that affordability wall one bright note, average loan sizes for buyers fell slightly which could be a sign that first time buyers are being helped by the recent growth in supply of new and existing homes for sale. we saw really strong earnings from luxury builder toll brothers average price for a toll home $844,000 >> wow that's a high average. amazing to think that refinancing can still tick higher seems like everybody and their brother have refinanced. if you think of the mortgage r

> joe, on the other hand, come on i'm never going to really run out of material for this thing warby parker but on the other hand it was headed for profitability before the pandemic hit and a great vertical strategy. president biden has a two-track strategy to get his economic agenda through congress but with the level of partisan rancor and his approval rating his chances are debatable. the future of collaboration is remote or not. apple has a new iphone out, completely overhyped or the best thing ever prop 22, facebook ftc, it's been quite a year we've all had to reinvent the way we work and i'm glad the team at "squawk box" is making room for "on the other hand. i hope to continue to join you guys on thursday mornings. >> i think there's a very good chance of that, bud. i get sad a little bit and i'll tell you a quick story, there's a lady been in this country 35 years, emigrated from china. she loves this country and wants us to be the best and wants us to win and she's devastated by the rancor that we're seeing right now. why can't we all not get along but why can't we do this graceful