phil lebeau with the news that rivian has filed for an ipo. mike, we had a screen up of different ev makers or different companies that are trying to be ev makers. is this a case where tesla will be sort of the register, the source of funds for rivian investment >> i don't think it would have to be necessarily. we've seen a little bit of appreciation, first of all, in the big u.s. oems, gm and ford i'm kind of hoping as a ford backer that that doesn't necessarily happen but, you know, tesla has a lot more going on than just vehicles and in terms of the size of the market, phil was just talking, for example, about amazon delivery vans. the vehicle market for electronic vehicles in the united states is as big as the vehicle market itself, frankly, because i think we can all agree that whether it is a commercial vehicle, an suv, a sports car, whatever, chances are, within the next decade, they're all going to be electric it's a big market opportunity. but tesla's market opportunity is a little more than just the things with wheels on them >> we'v

phil lebeau.ng the f-150 was a big deal is a big deal to ford's ev ambitions. this could be a truck that could compete head on with the f-150 and getting to market sooner >> first of all, i love the fact that you quickly question and wanted to know if this thing might have a cooler as if this is kind of your go to tailgate maneuver so good for you. and i think in terms of the rivian, there is no question that there will be competition and as much as we talk about the f-150 being the most popular vehicle in north america, there are some things that are really sexy about this vehicle. the question i think for investors is what you are willing to pay for this company? i think the valuation makes zero sense. ford's valuation is absurdly cheap south of 10 times. so that really is the story. is there competition yes. look, as great as the f-150 is and where they will be in ev land, i do think that they're not the only game in town. and especially when you talk about the performance that phil talked abou

our phil lebeau with the preview of what ford might say let's move to ebay the company has beater epstes every quarter in past two years as the pandemic drove big surges in ecommerce growth leaves ebay up against tough comps. ebay had a nice year with shares up more than 50% deidre bosa, how can they build on this in i wonder if they will have subliminal commentary about paypal's abandoned bid for pintrest >> yes, that could be very interesting. kelly, you also hit on the key question, can it keep this pandemic run going post-pandemic. the key metric will be gmv, that's gross merchandise volume. it will be a signal of that, but what will be really key here is its take rate. even if the volume number has increased, the take rate will be interesting because it will tell us how much their new payment system is helping them increase profitability, and payments, interesting and ironic, of course, you alluded to this, kelly, because it used to be part of paypal or paypal was part of ebay, however you want to look at it. paypal may be looking at pintrest complicated way of saying that social

phil lebeau is here. phil, how is the hummer ev >> it was impressive, shep i had a chance to drive it in the proving ground, gm's facility northwest of detroit. and they said, look, put it through the paces. we're not going to tell you whether to go through rocks or rutts, you do what you need to do this is the area you can do. it held up it performed -- it even allowed me to do the crab walk, which is where you drive diagonally this is strange to get used to it's hard to really tell you what that sensation is like but people will use it when they have to get around something that's blocking their path on the street i think this is a really good ev for general motors to come out they need it right now >> yeah, gm's bolt had a lot of issues with the batteries. is the company confident that won't be the case with the hummer >> they think that this will be a far different situation than the bolt in part, because it's a different battery system, shep a completely different system. it is far more advanced and

phil lebeau has the details for us >> this is a case with gm where the market completely shrugged itsgm lower this morning as the company was holding its conference call. here is what we came away learning about general motors. they did beat on the top and the bottom line. the chip shortage is going to be here through at least the first quarter. >> it's a bit more complex than everyone's looking at it but we are seeing stronger supply in fourth quarter we'll see stronger supply in the first quarter. we're also taking steps longer term to make sure that we aren't impacted by semiconductors or any other of the commodities or material that we need to successfully grow our ev future. >> general motors also said that it plans to see full-year profits near the higher end of its previous guidance. that didn't do much to push the stock higher you mentioned will ford. they report earnings, oh, in five or six minutes. people will want to know any change in the guidance in terms of ev production for the f-150 lightning and its other ev plans. those really start to ramp up next year. guys, back t

our phil lebeau took it out for a spin you're more than just an investor, you're an owner with accessl advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. ♪ ♪ train your mind. train your game. ♪ ♪ because your only limits... ♪ ♪ are the ones you put on yourself. ♪ ♪ >>> one of the driest years on record in california the state officially just entered a new water year on friday it runs from october 1st to september 30th several areas of california set new records in 2021, redding, red bluff and sacramento all had their driest years on record, according to the national weather service. regulators are warning the state's rez varies are so dry they might not be able to use them at all next year. they say they're preparing not to allocate any water to districts for the very first time ever. but that these are preliminary estimates. they are hoping rain and snow this winter could make conditions improve >>> california's drought adding fuel to the state's massive wildfires. fire officials say they're currently battling ten large

happening now, tesla kicking off its annual meeting let's get to phil lebeau and what we can expect >d on time they are going through the business you usually see at annual meetings, voting on shareholder proposals. when we hear from elon usk, three things shareholders will be looking for him to touch upon about where the company is and headed with the new gigafactories ready? this is held at the one to be opened outside austin, texas and one to be opened up outside berlin, germany. they talked about the challenges they have seen on supply chain and will the cyber truck delivery plan in place it has already been pushed back a bit. right now they have already exceeded the number of vehicles they delivered last year, which was a half million so far i think they have delivered 627,000. they have a shot at 900,000 although i don't see many analysts who expect them to hit that tesla has been a nice move over the last three to four months. you have seen the stock accelerating getting close to $800 a share this meeting doesn't always deliver news, but sometimes elon musk says a few things th

let's get back to phil lebeau. >> let's bring in paul jacobson, cfo of general motors.uestions from analysts, the big question is you are going to double your revenue by the end of this decade how do you get there and should people buy into the idea you can get there? >> great to be here. thanks for being here. an exciting time for us. i think you heard that excitement coming from the senior leaders this is a very different time in the auto industry. what opportunities are going to do is lay the groundwork for us while expanding our margins through 2030 we will do that by continuing to offer the high quality vehicles. and also, the most important part of this is the new connected vehicle environment. when you look at the software capabilities, the sheer volume general motors are able to put out with our brands and platform, it speaks to a huge revenue opportunity beyond the purchase of the vehicle that is new to us. when you look at that with 20 to 25 billion opportunities as well as 50 billion opportunities from crew as we outlined. you start to see a recipe where we h

le let's jump straight to phil lebeau >> they are popping. reported earnings of 51 cents a share. the street was expecting 27 cents a share. forget about the fact revenue was a smidge under expectation earnings beat by 24 cents. their earnings adjusted ebit margin 8.4% stronger q4 sales, raising their 2021 profit target the new full year target is 10 1/2 to 11 1/2 that's another reason why shares move higher. what about the chip loutlook? during the call he said it is improving and will compare in the fourth quarter compared to third quarter. he said it will decrease in intensity but it will last in 2022, and it may linger into 2023 that hasn't scared people. it expects 40 to 45 billion in spending between now and 2025 for the bve battery electric investments. there are substantial investments ford will be making. no change in its full year finally, the company will be reinstating its quarterly dividend it will be 10 cents a share for shareholders of record remember, they got rid of the dividend in march of last year right when the pandemic was beginning. they had no idea what wou

phil lebeau joins us with more on the takeaways from the shareholder meeting yesterday. it was maybe not unexpected but this is on the record official >> reporter: i think a lot of people were expecting it, dom. so when elon musk said we're pulling up stakes as far as our headquarters and moving to austin it didn't generate as much surprise as you might expect maybe a year, year and a half ago. we'll talk about the move in just a bit but let me talk about the other pieces of moves that came out from elon musk talking at the company's annual meeting yesterday. he addressed the supply chain issues that hit tesla and other automakers in the last year. it will be under pressure until next year. cyber truck production, by the way, which the cyber truck will be built in austin that's not going to start until late next year and there's the headquarters of tesla moving to austin but musk took great pains to say we are not completely abandoning california >> we will be continuing to expand our activities in california this is not a matter of sort of tesla leaving california as i

our phone fill lebeau is here to help us put it in perspective.la reporting a record quarter of deliveries, a 73% jump over a year ago analyst' estimates marrone away, this split product shortages, supply chain issues, and meddlesomely, the semiconductors how did tesla do it when all the other auto manufacturers have empty lots and nothing to sell >> great question. one that not all analysts are using today. all of them are saying tesla has done a wonderful job managing the chip shortage. what does that mean? how did they do it a couple of analysts said they have been prioritizing which chips they have been going after, the more readily available ones also there may be a more strategic relationship between some of the chip suppliers and tesla. those are perhaps insights as to why tesla have been successful and others have been stumbling make no mistake, you have got to take your hats off to what happened at tesla. they have been able to manage this crisis more effectively than other automakers around the world. that's showing in the number of vehi

phil lebeau. we're going to keep a close eye on the market.daq lowest level sin july it does look for the moment atth we bounced on 4300 we'll get more on the sell-off coming up. don't go away. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. come on, grandpa! later. got grandpa things to do. aw, grandpas are the best! well planned. well invested. well protected. voya. be confident to and through retirement. protect your pet this flea and tick season with chewy. find everything from flea collars and sprays, to prescriptions that keep pests away. chewy has what you need to keep tails wagging and pets itch free all season long. shop pet prescriptions and more at chewy.com today. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. owg re ccee

phil lebeau is at the gm technical center in warren, michigan hi, phil. >> day, high letter. we are in the midst of the investor day presentations we are about halfway through the day. we will hear from the cfo, paul ja jacobson later today big headlines. as you look at shares intraday not a whole lot of movement in shares the headline, they are planning on doubling their annual revenue by 2030. so if you go back to the last precovid normal year, if you will, they had about $142 billion in annual revenue. they plan to get up to $280 billion f just -- just to use that as a benchmark by 2030. they plan to do it primarily through boosting revenue through software and services. here's the ceo talking about the potential. >> yes, there will be subscriptions. we have a successful on star subscription business. we have that nochlkt we are going to build on that what is enabling this and the ability to offer so many software services is our v.i.p., our vehicle intelligent platform that allows us to do over the air updates to all the systems in the vehicle then you think about the sen

phil lebeau, thank you >>> coming up, crocs on pace for its best day since july.ow they're able to avoid supply chain problems holding up other companies. >>> and the k web is on pace for its third straight weekly gain and best month since january is it clear sailing from here now? we'll explore that it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ >>> welcome back to "the exchange," everybody dow's down 120 points. we're about 40 points off the session low. down a third of 1% look at the sort of the mirror image now. while that's down about a third of the percent, the s&p is pretty much bang-on flat at 4535

phil lebeau has the details. >> melissa, a second straight quarter with record quarterly deliveries for tesla they delivered 241,300 vehicles in the third quarter they've done that now for two or three-quarters deliveries overall up 97%. because of this strong quarter, that is raising the estimate the consensus in terms of what analysts are expecting, now for the entire year, 883,000 vehicles that's close to, a number of analysts saying, they're going to deliver 900,000 vehicles, although they would really have to crank it out in the fourth quarter. for tesla, remember, they have two giga factories close to opening up, one outside berlin, germany, and one just outside of austin, texas. in fact austin, texas is,elon musk will be on thursday when the company holds inannual meeits annual meeting you never know what you get with a meeting with elon musk, sometimes it makes news, sometimes it's rather mundane. wednesday we'll be looking at general motors as they have an investor day, essentially, when they'll be talking with analysts about why the company is as it converts towards electronic

phil lebeau has a recap of last night's annual shareholder meeting. >> the headquarter move did get most of the headlines and that's understandable that's a big deal when a company as big as tesla says we're not going to stay in silicon valley, we're going to go to texas some other news investors are focusing on. a lot having to do with manufacturing and where the company is right now as it continues to ramp up its production it will begin production at the giga factory outside of austin this year. but you're not going to see the cybertruck this year, we'll talk about that in a little bit the supply chain remains under pressure, according to elon musk they're seeing that in a variety of areas in terms of their costs moving higher. their headquarters, yes, moving from california to austin in part because of costs. he said it's cheaper housing down in texas and little more space. for a lot of reasons it makes sense but they are not, not giving up on california completely >> we will be continuing to expand our activities in california this is not a matter of sort of tesla leaving california

phil lebeau is here with the latest. >> cancellations continue for southwest. 365 cancellations today. if you add that along with the 1,800 starting friday and into saturday and sunday, you're looking at more than 2,000 cancellations. we saw scenes like this around the country all weekend. long lines, especially in those cities that have a strong concentration of southwest flights. not only in chicago but also in denver i'm out in las vegas saw a number of people out here who said they were expecting people to fly in for the bears and raiders game they never made it so for southwest, here's what happened the storms on friday in florida was the trigger event. that hit all the airlines, to a certain extent but far more impact on southwest. there was an air traffic control staffing issue very briefly on friday night that is not what caused the cancellations over the weekend what caused them saturday, sunday, into today, crew shortages for southwest airlines some of that is crews not being in the right position. remember, this is a point-to-point system. all it takes is for a few cancella

the same model involved in those deadly disasters >> phil lebeau covers autos and airlines for us. he's reading through the indictment right now his live report in 60 seconds. >>> the first criminal indictment of an individual in the case of boeing 737 max jet filed late today in federal court. prosecutors have just charged the company's former chief technical pilot, a man named mark forkner, with lying to regulators about the airline -- or i should say, about lying to regulators and airlines about the plane's flight control system failures in that system are what ultimately led, according to investigators, to the deaths of 346 people in two crashes. phil lebeau, as i mentioned, covers aviation for us on what evidence are prosecutors basing this brand-new indictment, phil >> well, they're going to point to forkner's own words or messages he sent remember, in january of last year, shep, boeing released, and it ultimately came up in congressional hearings, a trove of emails and messages involving a number of people involved in the certification of the max, including mark forkner, and

cnbc's phil lebeau is with us now. the other airlines appear to be imag managing things just fine. what's happening with southwest? >> southwest is a victim of being a little too aggressive when it comes to setting the schedule for the last weekend, so when you have the weather problems in florida, air traffic control issues friday night. what happened after that they had to cancel a bunch of flights. southwest is a point-to-point system, shep so when one pilot is canceled or flight canceled, then you start to get crews out of place very quickly, opposed to other airlines which is a hub and spoke model, so when they have cancellations, all right, maybe they will not be able to fly one place but they have a crew to pick up another flight this is going to take a couple of days still for southwest to straighten out. >> phil, the pilots' union for southwest said there's no connection to the covid vaccine mandate but they're not happy with that either. >> right they're not happy with the airline management on a number of levels and haven't been for some time, shep. look, they take great

phil lebeau is here with the numbers. >> hey, kelly. it was a rough third quarter and the numbers we are getting today back it up take a look at the third quarter sales from general motors, honda and niece saw. gm down almost a third compared to the same quarter last year. when you look at toyota, doesn't report on a quarterly basis but for cement down 22.4%. finally, tesla we haven't received the delivery numbers from tesla we likely will get them tomorrow or sunday. the expectation is for a record quarter when it comes to deliveries we will have more on auto sales throughout the day i want to pivot to carlos ghosn, the former nissan chairman and ceo who joins us live from beirut, lebanon, where he is promoting a book he has written about what has happened with his liechl, especially over the last couple of years. carlos, thanks for joining us. there's the book, "broken alliances," which you have written. a big question a lot of people have when i bring up your name, they say, he's in lebanon, what are the chances he is there for good

the same model involved in those deadly disasters >> phil lebeau covers autos and airlines for us. he's reading through the indictment right now his live report in 60 seconds. ♪ ♪ ♪ hey google. ♪ ♪ ♪ ♪ ♪ ♪ ♪ i see trees of green ♪ ♪ red roses too ♪ ♪ i see them bloom ♪ ♪ for me and you ♪ ♪ and i think to myself ♪ ♪ what a wonderful world ♪ a rich life is about more than just money. that's why at vanguard, you're more than just an investor, you're an owner so you can build a future for those you love. vanguard. become an owner. >>> the first criminal indictment of a individual prosecutors charged the company's first chief technical pilot a man named mark forkner with lying to regulators about the airlines, i should say lying to regulators and airlines about the plane's flight control system failures in that system are what ultimately led, according to investigators, to the deaths of 346 people in two crashes. phil lebeau, as i mentioned, covers aviation for us on what evidence are prosecutors basing this brand-new indictment, phil >> well, they're going to point to forkner's own wor

the same model involved in those deadly disasters >> phil lebeau covers autos and airlines for us. he's reading through the indictment right now his live report in 60 seconds. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >>> now that developing news the first criminal indictment in the case of boeing 737 max filed late today a short time ago in federal court. prosecutors have just charged the company's former chief technical pilot, a man named mark forkner, with lying to regulators about the airline -- or i should say, about lying to regulators and airlines about the plane's flight control system failures in that system are what ulti

let's welcome in phil lebeau welcome to you both.many places i could start here jed, i will begin with you why after last night did you up your price target? >> yeah, so, you know, a few things if you look at our upgrade, which goes back a little while here, we talk about the brand and being able to bring it into other parts of the energy ecosystem, which so far tesla has not been all that successful in do in that's the apple-esque part of things that's kind of our, you know, positive stance. so we got that from last night we also got a positive mix shift which we think will lead to healthier margins. i i think you have a little buy on rumor, sell on news today. as we go into the report, we are expecting better-than-street expectations which carries the stock higher, i think. >> into earnings phil, i think it is interesting to look at delivery numbers. >> right >> the sort of tantalizing prospects of the new giga factories and what they could deliver, but they're still bringing them fully online i'm curious how they can produce more

let's get to our phil lebeau >> reporter: wolf, i know we've done airlines all day today.ocused on tonight is going to be on tesla. and when tesla reports its results, the focus will be on what the company does not only for the third quarter. look, they're expected to post a profitable third quarter the but is what do they tell us about where the company is headed not only in the fourth quarter but next year. three questions will be front and center with the analyst as well as investors out there. do we see record profit margins? remember, they beat the street by at least 10% when it came to q3 deliveries. what's the chip and supply chain outlook? they did better than other automakers and do they give us any clarity about the start of production in berlin and in texas, two new giga factories they tend to bring online this year take a look at tesla versus gm and volkswagen over the last three years. tesla, at least against general motors, it has been catching up relative to where they were earlier this year. the numbers come out in a little bit, and we will have them for yo

phil lebeau is on the story for us phil, these are memorable milestones in the history of tesla. >> huge milestones, tyler. i think what stands out is not just that tesla has grown so big so fast but this is an automaker. and i think if you had brought up the idea of a trillion-dollar market cap for any automaker people would have scoffed at you. for some perspective here -- generally speaking, toyota's market cap has been somewhere in the 260, $270 billion range. i don't know where it is today and then you have got volkswagen, that's usually about 160, $170 billion range. that gives you some perspective on how much bigger tesla's market cap is than toyota and folks having aon, which, by the way, are the two largest automakers in the world, far bigger than what tesla is. tesla's annual sales this year, they might hit 48a -- sorry, 885, 890,000 vehicles. they were 490 last year. by comparison you are going to have both toyota and volkswagen, they are going to be well over 8 million vehicles, 9 million vehicles, somewhere in that range depending how much things have been dialed back in ter

united airlines is popping phil lebeau has the details. >> stocks are moving higher because the numberses, it was a loss revenue wasa little better tha expected one fact people should keep in mind in terms of the third quarter, fuel cost, up 63% from a year ago it's the fourth quarter people are interested in. q3 was down 32% on the revenue side two other notes regarding united as we look at shares the company is not giving a target day for when it expects to be profitable, q1, when will it happen in 2022? and the company is saying it is seeing strengthening in international and corporate bookings how much the company is not giving us the information. you don't want to miss when we talk to the ceo tomorrow mornin on squawk box. yes, we will be asking him how much have corporate and international bookings improved and what do you expect for the holiday season >> fuel costs, usually we see fuel surcharges. has the dynamic changed that they can't pass the full cost to the consumer >> maybe not the full cost but they will be passing it along to the consumer 63% year over year is a huge incr

. >>> welcome back boeing is under pressure let's go to phil lebeau. >> this was pointed out by a boeingected there could be deif he cantive titanium brackets. this is not a flight safety issue. these are brackets that secure the floor to the fuselage. important much you want to have it checked, but it will not force dream liners to be pulled out of the schedule. deliveries have been halted since may. the final inspection process has not been approved by the faa they are going back and forth as part of the review until the faa signs off on it, they will not be delivering dreamliners. we have been hearing for sometime they are close to getting it approved by the faa until that happens, it will not be being delivered they have only had one cancellation of a 787 in the last couple months, but regulregulative to the s&p 500, it hasn't done much they have already said they expect to deliver fewer than half of the dreamliners this year but if they don't get the approval, they will likely deliver less than half the end of covid-19 over the next year and a half worldwide and see more internation

phil lebeau. in the next hour the president is set to speak on his social spending plan.ails hi again, kayla. >> president biden is on capitol hill right now in a meeting with house democrats that is just breaking up. the goal is to convince them to vote for a new $1.75 trillion spending package and also for a $1 trillion infrastructure deal as biden drives home the need to tout these investments when he meets with global partners overseas the policies in the latest version of his build back better plan include $555 billion in climatecredits, $400 billion for day care and preschool, $200 billion to extend the child and earned income tax credits for one year, and $150 billion each for housing and in home care for seniors and the disabled the estimated offsets in white house plan includes $675 billion from enforcing a 15% minimum corporate tax on companies here and on foreign profits of large u.s. companies $400 billion raised in new irs tax enforcement. $230 billionpy charging a new sur tax on individuals making more than $10 billion and a new 1% tax on stock buybacks the

phil lebeau has the details from the weekend. >> reporter: las vegas, where we are right now, is one of the airports that lost in flights, but we checked in with the leaders here, saying things are improving. more than 2,000 flights canceled since saturday the airlines believes they'll get on a firm footing later this week it all started with a weather event in florida, an air rask troll staffing issue, but on saturday and sunday, it was all southwest. they had crews that were out of place, which raises the question, will they be able to handle -- handle a surge in holiday traffic, which is expected, as we see covid case dim minuters the c.o.o. of the company saying they will make adjustments he said, quote -- we've already made significant reductions from our previous schedules, and we think -- if we think we need toad more, we will by the way, we checked in with with the receive airlines pilots union. we had, look, a lot of people are saying, maybe it's not official, but unofficially, are year pilots saying we're not happy with the way things are going, with a lack of discussion, s

straight to phil lebeau, who's got a xw"squawk" exclusive for . you sent yesterday to tesla ceo elon musk where you essentially say, look, you've got to do more to put in safeguards for your full self-driving technology. what specifically worries you about their sfd technology >> good morning, phil. thanks for having me on the show my biggest concern is that tesla is rolling out full self-driving technology in beta to, on city streets with untrained drivers and they have not addressed our recommendations that we've issued agency a s a result of ns tesla crashes. >> have you discussed think personally with elon musk? had a phone call or meeting face-to-face, here's a, b, c, what needs to be done? woe haven't you done this? >> mr. musk and i have never met and this is not mr. musk and it's certainly not about me. the ntsb and i specifically meet people on the worst day of their lives. after a crash. after they've lost a loved one that is part of our job at the ntsb, and our job is to determine what happened, why it happen and prevent a crash from ha

this is after strong earnings and worried about jet fuel prices with the ceo told phil lebeau, he's expectingfor the rest of the year >> we're only going to be about 65% recovered in october but november and december, we're looking for a ten-point increase in our recovery rates. because increased business demand, increased international opportunities. and most importantly people are not as concerned about the impact of the variant. they're ready to get back to work we're going to end the year at 75% restored we started the year at 25% ♪ ♪ ♪ ♪ ♪ ♪ hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. - [narrator] introducing the grubhub guarantee: our pr

losing quarter after the bell but investors want to hear the guidance for the holidays and 2022 phil lebeau expected to post a loss that is true and what's the path to profitability? when do they expect that to happen the revenue growth is key here and the fourth quarter outlook what do they expect for the holiday season and corporate and international travel remember the beginning of september a rise in covid cases? the airlines said near term bookings down and held up better than people expected and looking at october down 20% and looking at united and showing you the last three months. they had a discussion about the vaccine mandate. they said you got to be fully vaccinated if you are not and don't give you an exception you leave the airline. about 260 employees in the process of terminating, separating them. we'll talk with scott kirby first on cnbc on "squak box. you don't want to misswhat scott has to say and the only place to hear from him before the conference call with annual e ists later on that morning what do they expect for the fourth quarter and then into early next year? >> e

let's get to phil lebeau hey, phil. >> carl, this meeting will be held this afternoon with elon muskthree things people will be focused on hearing from elon musk today whether or not we hear about them hard to say, there's a good chance we will first of all, are the new gigafactorys ready not just one in austin, but the one in berlin. what's the outlook for the supply chain elon musk talked about it early in the third quarter that they had real challenges there and perhaps they'll tell us about what they're doing, and the fsd rollout, musk tweeting about it this morning saying fsd beta 10.2 rolls out friday at midnight to approximately 1,000 owners with perfect 100 out of 100 safety scores. rollouts will hold for several days after that to see how it goes and if that looks good, beta will gradually begin rolling out to 99 scores and below. as you take i look at shares of tesla, it's been a nice move over the last three to four months since the stock has moved higher at one point getting briefly over $8 00 a share earlier this week or late last week this meeting starts late this after

phil lebeau joins us. >> the dream edition, being produced in arizona. think of it as a limited edition first model. boy is it limited. the deliveries start tomorrow in southern california. that's the reason it went up yesterday. it showed up on a lucid forum that the deliveries were going to be this weekend apparently a lot of people were surprised because they are pushing the stock up like they haven't heard about this before. it starts at $169,000. once they get past the limited edition first run. i think there is about 550 of them the lucid air sedans start at $77,400. lucid production as i mentioned is happening just south of phoenix, arizona, at the company's plant in casa grande they started production last month. they will have 13,000 lucid airs when they start this product they already do have 13,000 lucid air orders we will get an update on this. i expect it is going to be substantially higher than this when the company reports its q3 results on november 15th as you look at shares of lucid, as you pointed out, it is well off of its 52-week high

phil lebeau has more on what we learned. hey, phil. >> hey, jon.t we learned is that tesla has bold ambitions in a number of areas whether it's software as a service revenue insurance which they believe can be a huge growth engine in the future as you take a look at shares of tesla, it did not do much immediately after the earnings report came out last night but you see the stock moving higher today, now up more than 3.5% after reporting a record quarterly profit for the third quarter along with record revenues when you look at the numbers within the numbers, boy, there was strength all around for tesla last quarter let's start first off with the gross automotive margins x-0 emission vehicle credits 28.8%. most were expecting 24 and 25% cash flow greater than $1.3 billion. most were expecting it to be just a billion dollars remember they sold basically the model 3 and the model y. very few snx sales in the third quarter. average sales price dropped 6% that's a pretty nice combination there. texas gig factory came up during the conference call. coup

. >>> tesla's q3 delivery expected in the coming days phil lebeau has a preview. >> when we look at the for tesla a record one in terms of deliveries we've seen nothing that tells us that won't be the case the estimate is for 227,000 vehicles to be delivered though there are some that can believe it will be as high as 245, it 40,000 90% of the deliveries model 3 and modely the case since the beginning of the year. regions are not broken out they're not going to tell us here's how many we delivered in china and the u.s. and europe, et cetera. they've never done that. in terms of the impact of the chip shortage, tesla has felt an impact and elon musk has talked about that over the last couple months but more limited to what other automakers around the world are experiencing perhaps we'll get a better sense in the next couple weeks remember the berlin factory is scheduled to open this quarter and then we also have austin, texas, which is on deck, as well in terms of annual deliveries from tesla the estimate right now is for 871,000 vehicles. that is going to be well above what they deliver

management has a credibility issue and you're willing to bet on what he said i saw the interview with phil lebeau great interview, you brought him here, and it confirmed everything that i thought about calhoun and the stock. i would go and make money elsewhere if i were you, it's taking up space in your portfolio and i hate to see such a good friend aggravated day to day to day am i right, scott? >> you can respond to that, but it is striking to me that you suggest they have a management credibility issue and you turn right around in the second half of the sentence and say "but." >> but i explained it and il'll explain it again airlines are growing their fleet and you can't go to airbus and that's not certified even if you trust their certification process. you have to go to boeing and it's a captive market and the reason to own it as steve said the stock will go up and it will go up when the ceo changes which the ceo will change i think the faa actually wants that, but probably the next catalyst is when boeing sells planes to fedex to get operations back on order and back on track and maybe fede

. >> phil lebeau, with cnbc investor day and he did speak with the ceo mary barra just moments ago.d she have to say >> she laid out an ambitious plan they'll be briefing analysts in 45 minutes on this plan for general motors to grow revenues and grow them substantially throughout the rest of this decade general motors has set a target of doubling its annual revenue by 2030. they also plan to grow their ebitda just in margins and get this, be the leader, the leader in ev market sales here in the united states. just a few minutes ago i talked with mary barra about how she plans to grow the revenue. here's what she had to say >> we think it will be additive in the early days as people will want to adapt evs as early as 2035, we want to have the light duty fleet be all ev, but in that time we see growth. so what i will say is there are business plans behind everything that allows us to say those numbers with confidence. >> all right what about this target of being the leader in electric vehicle sales. we're showing you general motors shares and yes, those are gm at the bottom versus te

the announcement made at tesla's annual meeting cnbc's phil lebeau covers cars for us phil, he threatened this but it sounded like just a threat, bu it's not. >> it's not a threat i think a lot of people are not surprised to see that tesla is moving its headquarters from fremont, california, or in the silicon valley area, down to texas. here's the reason why. musk has -- he's clashed at times with regulators and officials in california over the years. he then moved last year, selling his houses in california and he's essentially relocated down to the austin rea. and so it's not a surprise that they're moving the headquarters down there in fact during the annual meeting what was interesting was they have a graphic that they showed during the live stream of the event. basically looked like a sheriff's badge with the tesla logo in the middle that's one indication that they are -- they're moving that headquarters down to austin. >> what about his original plant, the one in the bay area is that staying or going >> right it's staying in fact they're planning to expand production at that plant b

the founder of jet blue and breeze thinks so phil lebeau is here with the details. >> a big day for breezent in mobile this will be flying next spring with delivers of 80 planes that have been ordered by breeze. ramping up between next spring, now and 2028 take a look at the breeze network. you see a company that is primarily targeting underserved markets in the southeastern united states, but the plan is eventually, that route structure that you see is going to be expanding and expanding on a steady basis let's bring in founder and ceo of breeze joining us from mobile david, congratulations on the new a 2-20 give us a sense of how quickly you'll be feathering in others into your fleets >> thank you for having me on, phil it's a really exciting day for our company and for all of our team members you know, like you mentioned, this airplane is going to give us reach and we're going to take one a month for the next 80 months and maybe 120 months. as they come on, we're going to keep adding more and more routes and for our current route system, the planes are decidedly like an hour and a half,

. >> let's get to phil lebeau. gm and boeing both out >> hey, joe. is a beat on the top and bottom line. earning 1.52 a share, well above expectations for a profit of 96 cents a share. revenue a little better than expected, $26.76 billion just a smidgen above expectation. 10.9% profit margin for the third quarter. margin is going to increasingly be the story within the auto industry couple other notes they have a $700 million benefit from their settlement with lg chem for the chevy bolt battery fires. they said we're going to take a billion charge over a couple quarters, and then a settlement, $700 million benefit there the company is saying that it is approaching the high end of its guidance the guidance was set just a few weeks ago at investor day between 11.5 and $13.5 billion for the year don't forget coming up next hour, you do not want to miss this interview first on cnbc we will be talking with gm chair and ceo mary barra coming up at 8:30 this morning an interview a lot of people will be looking forward to let's shift gears and talk about boe

the final month of the year nerkt >>> the auto industry continues to deal with supply issues phil lebeaung and is covering today >> reporter: hey, joe, we're not expecting strong numbers when the auto makers report them because we get them on a quarterly basis. we get tested in a bit what we're expecting is for the month of september, the sales pace, the pace 12.1 million vehicles just for a point of reference. that sails rate is down 1 million from august and down about 6 million from where it was when there was the resurgence in sales back in april. it hit 18.1 million vehicles look, you can blame it on the chip shortage. you had limited auto production. not just here in the united states, but around the world the auto makers are routinely suspending production and they did that in the third quarter. they'll continue to do it in the fourth quarter we get these notes almost on a weekly basis this plan is down a week there is down to one shift maybe a shift is coming back as the supply improves. they're facing extremely low inventory. look at general motors, jeep, ram, all struggling to

phil lebeau has a spect guest. >> on a day where boeing misses, the shares are moving higher premarket. let's bring in dave calhoun. dave, third quarter, you knew this was going to be a challenging quarter. do you feel like, okay, i can see some light at the table, whether it's the 787 dreamliner or other issues? >> i absolutely remain a complete optimist. it's important we open with a decent trajectory. i think fourth quarter will get even closer. i am an optimist i'm feeling good about where we are and where the year is going next year. >> the dreamliner, still haven't begun deliveries you are making progress there. what is your outlook for resuming the dreamliners. >> we're following a very deliberate process et cetera, but we dotted all the is, crossed all the ts, and started delivers we're going to do the exact same thing. the max out there is flying like crazy, and it is as reliability as any airplane in any fleet in the world. so i feel have very good about that process i can't predict delivery times i have a counterpart in the faa, and for abnorm at products, and you're saying