i don't know got a lot of stocks on my screen thank you, dom chu, julia boorstin, mary ann montain. >2 what to expect and one arngroewnal automakers n chgi pject that is next. wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq yeah... oh. don't worry i got it! ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. we love our new home. lots of windows, great light- but the birds. they're back. yes, i hear them. uh-oh. why are these birds so angry?! at least geico makes bundling our home and car insurance easy. we save a lot. i'm going...i'm going. aaaahh! hurry, hurry! i know, i know! for bundling made easy, go to geico.com. >>> welcome back following three big stories in the tra

julia boorstin continues her series on all the way to invest in the infrastructure of the metaverse.brian, there are so many components first, the chip that power vittual experiences. bernstein points to the potential for nvidia, and qualcomm with its snapdragon xr platform that connects virtual and physical place places. bernstein has an outperform on both those stocks. the network needs to be fast, so 2 5g is key. third, the original met averse player goldman forecasts that meta platforms, the company formerly known as facebook will invest about 5% of its can, $39 million in new metaverse technologies. there are etfs like this one, meta, not to be confused with facebook, including a basket of 44 stocks with exposure to this space, including those that i have already mentioned companies do teem eager to talk about what they're doing in the metaverse. there are 449 mentions of the m metaverse in third quarter calls. so we'll have to see if that trend continues. brian, back over to you. >>> all right. julia boorstin, thank you very much >>> okay so we have talked a lot about the big i

i'm julia boorstin with jon fortt. stocks moving lower now.n 300 points the nasdaq lower by more than 1% faang leer, the arc funds leer, tesla, chinese tech stocks nvidia hit particularly hard and even apple is lower. we are continuing to watch those shares as it near as $3 trillion market cap now it is down here nearly 1%. let's get a news update from rahel solomon. >> here's what's happening at this hour. pfizer is putting some of its covid vaccine profits into an acquisition buying arena farm executecals for more than double its market cap arena is developing a number of drugs including one to treat colight and kroens disease. >>> a lawsuit allowing a suit to kin against johnson & johnson for its talc products for failing to warn consumers its talc products increased the risk of developing ovarian cancer >>> harley is combining -- and stocks are up. >>> stock buybacks are at an all-time high in the third quarter. it is expected to be another record this quarter. this morning, bristol-myers announced a $15 billion stock buyback plan and a di

julia boorstin with a look at what is going on with the sector julia. >> well, dierdre, the past concernson buy risk variant have sent theater stocks plummeting. in the past five trading sessions alone, amc entertainment shares are down 23%. imax shares off 11% and sin mark shares down about 8% now, amc, is still up around 1250% year to date but, for the other two stocks, some analysts see a buying opportunity. cinemark down over 10.5% and imax down over 9% year to date alicia reese of webbush, buy rating of cinemark and imax. pent-up demand for high-quality content, particularly from younger people who don't feel as threatened by the virus. she points to evidence in ticket presales for spiderman no way home out two weeks from tomorrow cinemark on tuesday announced the film has the second biggest advance ticket sales of all time just behind marvels agenvengersn game imax and cinemark are oversold he does warn saying, quote, longer-term though there are still a lot of questions about the pace of the box office recovery and if that recovery moves at a slower than anticipated pace in 2022 wi

discovery and comcast at the lowest level in a year what in the world is going on here let's ask julia boorstinulia. >> well, kelly, a combination of factors have been waying on media stocks, concerns about slowing streaming growth and ad spending, under pressure from supply chain constraints then, of course, there's the uncertainty about the future of movie going, not to mention covid's impact on theme parks. some media stocks are bouncing off lows comcast is up over 2%. discovery and at&t both up fractionally today, but this comes after both comcast and discovery hit a 52-week low earlier this morning mcclary research downgrading comcast today saying, quote, a moderation in broadband growth combined with potential delay and recovery at the parks along with ongoing investments in content creates an overhang on the stock for the time being they're saying it is becoming more cautious on traditional media overall as streaming wars go global. it lowered its price target on disney, fox and viacomcbs. morgan stanley lowering the price target on disney, though maintaining its overweight rating on the

here's cnbc's julia boorstin >> reporter: warner brothers highly anticipated matrix resurrections iso max. >> i remember this. >> reporter: a sign of just how much the movie industry has changed. studios have embraced new found flexibility during the pandemic which broke them free of the set window during the theatrical and releases now the number of franchises happening, studios are hoping to maximize ticket sales by maintaining exclusive theatrical windows and embracing streaming to drive total revenue it's still unclear how much movie going will come back although spied ter man no way home's massive opening showed younger generations are able to see super hero blockbusters in theaters that film netting the second largest domestic ever. the 2021 north american box office will total $4 billion up from 2.3 billion in 2020 but down from nearly 11.5 billion in 2019 >>> it used to be when you scheduled the film it was rock solid on that date not that way anymore things move and the covid-19 impact will continue. >> reporter: one key issue, how much people feel the opportunity to watch m

home molecular covid tests with results in about 20 minds lieu the cue health app let's go to julia boorstin and a representative from cue health >> i want to make it clear because alot of ourviewers use the binax or other home tests. what you do is you sell reader for $250 and then individual tests that work with the reader for $70. you get discounts with both buys tell us, for this product, what kind of surge in demand are you seeing right now are you able to meet that spike? >> thanks for having me on today. there is quite a lot of demand for our covid-19 tests it does detect the omicron variant. certainly for many people accuracy in detecting covid-19 is one of the most important things about a test. we can bring that into home with lab-quality accuracy, results in 20 minutes i am glad you pointed out our system is different. we are not a rapid antigen test. we are really a new category, a knew klyuchevsky cl-- we are a e clayic acid -- we have sensitivity of the lab test like pcr. >> clint, though, it is significantly more expensive than some of these other rapid tests that are the anti

cnbc's julia boorstin live with the box office breakdown hi, julia. >> well, shep, sony's "spider-manrossed $50 million at the domestic box office. that was yesterday and that's the third highest preview gross of all time. theater chain cinemark said it was their best opening night ever even before the pandemic. this performance follows rave reviews. the film has a 95% positive rating on rotten tomatoes. and this opening puts it on track to gross as much as $200 million opening weekend. that would put it right behind "black panther" and in the top ten openings ever. internationally the film's already brought in 114 million in two days, breaking records in some key markets now, this strong opening is actually less of a surprise because the film presold so many tickets. so the question is how muc omicron fears impact the box office over the course of the weekend and over the rest of this crucial holiday season. this does come as denmark shuts down its theaters for four weeks. and just yesterday universal pictures, our sister company, announced that it was delaying one of its films, "bla

. >>> plus - >> julia boorstin here this is my avatar in the metaverse. to metarized work ros.om i will take you around and show you what to expect from the metaverse. that's coming up later in the show when you feel right, you coach right. i know that's right! prime never believed in double coverage, but health insurance and aflac...is money. ♪ must be the money ♪ and i know how coach prime feels about money. -aflaaaac. -♪ aaahhhh ♪ now that is what this jacket needs. ♪ must be the money ♪ get help with the expenses health insurance doesn't cover. at aaflac.com get help with the expenses health insurance doesn't cover. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. ("jingle bells") ♪ (doors knocking and bells ringing to the music) ♪ - [announcer] this holiday season, give the gift of grubhub. ♪ >>> welcome back to "the exchange." the dow is up 573 points at the high market

now ♪ >>> good thursday morning, welcome to "techcheck" i'm carl quintanilla with jon fortt and julia boorstinoday major averages will try to make it three in a row on this holiday-shortened trading week s&p is less than half a percent from a record high but the nasdaq still trailing the broader markets since peaking on november 22nd >>> plus, ten cent giving away stake in jd.com. and then you can smell what the rock is cooking. how about what he's brewing. dwyane johnson will join us to talk about the streaming land skam, tequila and red notice. >>> let's start with tech stock. the s&p back within 1% of all-time highs in a volatile month. within sectors, what's driving the snapback take a look at this chart. s&p 500 the middle the white line you can see the wide dispersion with fintech sectors. cloud, software and fintech still struggling those blue and green lines at the bottom of the chart off their lows but still underperforming by 15, 20, 30% over the last three months, carl you know, quite a lot of action there to set up '22. >> yep and again, it's been -- what a week it's been for semic

julia boorstin, navigate this for us here.office back and will it be so in 2022 as well >> well, look, we don't know what's going to happen in this last week of the year. it'll be really interesting to see not only does spider-man continue soaring, but what happens with these other movies that are coming to the market? traditionally the holiday season is a time when maybe people would see multiple movies or if they went to the theater thinking they were going to see spider-man or others there are a couple of other really big titles including "kingsman. the question is what happens with these other names because i think the industry is trying to figure out is the theatrical experience really going to be primarily about big franchises, big characters like spider-man or are you going to able to see a range of themes do well at the box office we still don't know. but there certainly is a lot of demand and i have to wonder if maybe some people who canceled their travel plans just to bo go backo the last conversation, do they feel c

welcome to "techcheck" i'm carl quintanilla with jon fortt and julia boorstin today it has been a volatile4 hours. the nasdaq rallies more than 2% yesterday, down again this morning. we got two members of the paypal mafia to talk about why it's been such a two months for tech even as broader indexes remain near record hies >>> adobe falling shortly. what cloud and software stocks if any are safe to own right now. >>> plus, one ipo to come in 2022, reddit, confidentially filing to go public. we'll talk with early investors in the company this hour, jon. >> yeah. and we'll start with adobe and falling cloud-related stocks cloud and software names have been at the center of the selloff in tech. those etfs down double digits in the last month hit hardest have been companies that don't yet have profits or where the multiples are highest. as for adobe, earnings in line, revenue beats q1 guide coming in below estimates. shares are fai ing sharply this morning. the ceo we spoke to on monday is on the call which is starting as we speak he'll be on "mad money" tonight at 6:00 p.m. >>> lastly, we'll

and julia boorstin joins me now with whether the dip presents a buying opportunity spider-man ticketsl selling. maybe there's some silver lining here, at least for big hits? >> yeah. well, those theater stocks are bouncing back today, jon but in the past week concerns about omicron have sent them plummeting take a look at the past five trading sessions amc entertainment shares lost 22% over those five days imax shares down 10% and cinemark shares down 6%. amc has been a meme trade, it is still up around 1,250% year-to-date but for the other two big theater stocks, some analysts see a buying opportunity because year-to-date cinemark is down over 10.5% and imax is down about 9.5%. she says she sees pent-up demand for high-quality content, particularly from younger people who don't feel as threatened by coronavirus. she points to evidence in those ticket presales for spider-man: no way home ahead of its opening in two weeks cinemark saying that film had the second biggest advanced ticket sales of all time just behind marvel's "avengers: end game." so mkm's eric handler says he agrees tha

venture capitalist gives us a list of companies he thinks will cash in on the metaverse >>> plus, julia boorstinhat could draw more consumers into the metaverse. julia? >> well, sara, the future isn't just virtual, it's also augmented reality. i'll show you how this green screen room with 30 cameras loamho this startup ceo into a hogr w showed up in my house. that's coming up after the break. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪ ♪♪ ♪♪ mom, hurry! our show's gonna start soon! i promised i wouldn't miss the show ♪♪ and mommy always keeps her promises. oh, no! seriously? hmm! it's not the same if she's not h

julia boorstin joins us with the story and the man. julia?to be the pixar of the internet, launching characters on social media to then expand on to other platforms. now, last week the company announced a children's book based on serena williams's character. it has more than 3.5 million social media followers most on tiktok then this morning, invisible universe announced new character in partnership with jennifer aniston. one of its other investors, alexis ohanian, founder of reddit and d.c. firm 776 he joins us now al alexis, thanks for talk to us today. you've been involved with this company since the very beginning. what's the addressable market here what do you see as the full potential? >> look the reason i was so impressed was what invisible universe realized was creating i.p., creating intellectual property was not going to look the way it used to pixar, disney you could be in production for years creating something you just hope people are going to like today in the age of social media, where we have global realtime division, what fan

many companies from facebook to nike are talking about many things julia boorstin is taking an in-depth to say i'm disappointed to see you. i was hoping to see your avatar. >> you will see more of my avatar you saw my avatar for the these. right? we have to mix it up we're still in this hybrid world. andrew mark zuckerberg said it will be a decade before the metaverse is truly realized there is a checkive immersive world. he's talking when you have head sets and everything is inner operable the tech platforms are already here that could define the universes. mark zuckerberg's vision of the metaverse is fully immersive the people are already exploring virtual worlds without a world let's build an avatar. i got some ear rings you can explore, talk oother avatars, play black jacks and buy telling tal real estate. companies can buy ad space road block isn't just a kids' game it was an early pioneer of virtual worlds now you can buy digital products from big name fashion brands, like ralph lauren. >> i can buy a ralph lauren beanie. >> they can buy and use roebucks to apply the virtual goods

. >>> julia boorstin has been digging into the numbers snowflake shares are up about 12.5% after the stock ended the market day down 8.5% revenue and guidance beat expectations, reporting $334 million in revenue versus the $306 million that analysts had anticipated. the company's fourth quarter guidance for product revenue, the majority but not all of the total revenue number is above the consensus range for the entire revenue estimate for the fourth quarter gross margins were also higher than expected. some momentum accelerated with particular strength in the europe, middle east and africa region with 174% revenue growth there, and in asia pacific and jaap their revenue was up 219% we also noted they recently launched in three new countries. the ceo saying, our vertical industry focus is an important evolution of our selling motion, and snowflake continues to be broad industry adoption. they have two new data clouds, one for financial services company. they also talked the media data cloud for media and also advertising companies, saying it enables them to crate their own new collab

julia boorstin joins us with the next frontier. julia? figure out how to use technology to make agriculture efficient and the startups attract a surge of venture capital investments in agriculture tech hit an all-time high in the third quarter and $8 billion to pour in this to sector this year that's double from ten years ago. a fast growing part of the sector is robotics to help assist and replace workers there's a robot to harvest strawberries it started commercial deployment this summer with two of the largest growers to tackle the $300 million in annual waste due to strawberries rotting until field. we spoke with early stage investor. >> if we hadn't taken wheat, corn and modernized those farming techniques there's no way to support an 8 billion person population and time to bring the same technology gains to the fruits and vegetables that are on the tables every day. >> another start-up just raced $34 million seed round to partner with equipment mackers to make tractors autonomous or remote controlled. and in august deere bought a st

ju ju julia boorstin has more. >> under fire for negative impact on teens, he defended instagram trackord and pointed a finger at tiktok, youtube, snapchat. he proposed creating an industry body to create standards and endorsed the idea of federal regulation for all the platforms once again he denied that they're doing anything at instagram that manipulates teens to keep them hooked >> have you not done things to get more teenagers interested in your product are you not worried about losing them to other platforms? you better tell the truth, you're under oath. >> absolutely, senator senator, we try to make instagram as relevant as possible for people of all ages, including teens. teens do amazing things on instagram every day. we also invest i believe more than anyone else in keeping people, including teens, safe. >> mosseri refused to shutdown instagram for kids which several senators pushed him to do. he said it is better to create a safe product for younger users that are going to be using technology senator richard blumenthal said after that he was deeply disappointed he didn't agr

i don't know, you have straight avatar, julia boorstin and you have curly hair julia borestin can they exist in the same space? >> can i have the same avatar exist in all the verses. let's stay on the metaverse and how companies plan to monetize these opportunities. let's bring in bernie. thanks so much for joining us. you cover roblox and this is a company for so many years people thought it was a game company but in reality we're realizing it is more of a metaverse company. what do you anticipate in the next year in terms of other companies trying to make money on this platform >> yeah, no, it's a great point and the metaverse is right given the engagement we always think monetization will follow and that comes back to the charts dealing with internet usage and advertising dollars following, as well, too some of the other plays that i think in our coverage that are trying to monetize, one, is shutter stock. shutter stock is the best performing group of our coverage this year and mark zuckerberg video where he's playing cards, one of those avatars is made by turbo squid. we think that

set to testify before congress for the first time this afternoon amid exodus at company meta julia boorstinfor us julia. >> well, adam mosseri grilled by the same senate subcommittee that interviewed frances . now, just yesterday instagram announced product updates to better protect teens and some parental controls that are set to launch next year. but those updates seem to further infuriate marsha blackburn who plans to say in her opening remarks that the product updates are what she calls, too little too late that the time is right to pass a national consumer privacy bill and kids specific legislation to keep minors safe online. mosseri in the hot seat as a number of other senior executives leave their head. vp of workplace both announced their departures now, this comes after fintech lead announced his departure last week. and head of facebook app and ad chief both left earlier this year for instacart meta is saying because of the size of the company churn is normal telling us, quote, we're proud to have added more than 10,000 employees in 2021 alone and to continue having a strong bench

testifying this hour front of a senate subcommittee talking about protecting kids online our julia boorstin. hi, julia. >> well, adam mosseri, head of instagram, is talking right now. and he kicked off his testimony saying that he believes that instagram can be a force for good, saying that he wants an industry body to set standards and regulations to protect kids, not just on instagram. he pointed a finger at some other platforms. >> but the reality is that keeping people safe is not just about any one company. an external survey just last month suggested that more teens are using tiktok and youtube than instagram this is an industry-wide challenge and requires industry-wide solutions and industry-wide standards. >> richard blumenthal and marsha blackburn kicked off the hearing with prepared remarks. they said they thought instagram's recent product updates are insufficient >> two months ago the global head of public safety for fbi w for facebook was put on notice by this subcommittee nothing has changed. and in the meantime more lives have been broken >> blumenthal just now pushing mosser

julia boorstin has more. >> the social sector is falling more than the rest of the market look at pinterestit's down the most of the group. it's off more than 4%. it is actually down over 45% year to date snap also down, about 4% it brings its losses for the year to down more than 8%. twitter following a ceo change earlier this week continued its decline. that stock down about 2% right now. it is down about 23% year to date now, meta -- of course the stock formerly known as facebook, is also underperforming the nasdaq. down about 2% right now. still up more than 11% for the year in contrast a bright spot, the traditional media players. they have been hammered earlier in year. today in the screen. viacom up almost 4.5%. discovery up over 2% fox and at&t both up about 1.5%. and comcast up .5% now, the social sector is still facing so much uncertainty around ad targeting and consumer engagement while today's move indicates there might be a sense that those media players who have been investing in streaming may have been oversold -- i want to point out that disney and net licks are both down to

let's bring in julia boorstin with more on that story. >> well, kelly, the key thing here is that themcast/cnbc's parent company did warn they will see fewer broadband net additions in the fourth quarter than analysts had been anticipating. for the full year they thought there would be 1.3 million new broadband addition, analysts expecting 1.4. the key thing it implies the addition of 185,000 new subscribers in the fourth quarter, down from as many as 461 in the first quarter, 354,000 in the second quarter and 300,000 in the third quarter. we're seeing a decline over the course of the year, but there are a couple other key things to note here. it does seem like there's been a real pull forward in broadband subscribers, broadband net additions into the past two years, going back to the beginning of the pandemic. three key factor, lockdowns really benefitted and drove broadband growth then you have the fact that people were moving more, particularly in the first half of this year, those moves are generally good for broadband subscriber additions you had stimulus that is not so much of a

julia boorstin has more. >> roku shares skyrocketing 19% after that company reached a multi-year agreementatform google had threatened to pull the two apps from roku tomorrow if -- and a blackout could've sent youtube to amazon's fire tv or apple tv. now that uncertainty about what was going to happen had been an overhang on roku shares. roku saying, quote, this agreement represents a positive development for our shared customers, making both youtube and youtube tv available for all streamers on the roku platform and youtube saying, quote, we're pleased to have a partnership that benefits our mutual users now the terms of the deal were not disclosed, but this does resolve a contentious battle over what percent of ad revenue roku could take from youtube and roku claimed that google required it to preference youtube content over other providers. this is a battle that drew the attention of congress as there are many there that looked to crack down on big tech senator amy klobuchar issued a statement in support of roku >> amazing, julia, thank you very much. >>> it tells you actually about the

. >>> good wednesday morning welcome to "techcheck" i'm carl quintanilla with john fortt and julia boorstin today a chip off the old block the street expected outperformance for semis in 2022 after a 5% dip is now the time to buy >>> then best week ever. that's what uber ceo told our next guest when they speak yesterday. his top internet picks >>> plus comply or good-bye. google tells employees they'll eventually be fired if they don't get vaccinated the cnbc reporter behind that scoop is going to join us this hour, john >> we still have the day off and what's going on here we'll start with bullish sentiment for the chip sector. more than 35% rise this year that's 10% better than the s&p's gain chips hit a snag so is now the time to find winners within semis. nvidia, marvell and intuit and analysts predicting 2022 will bring more of the same this morning deutsche named broadcom, qualcomm and semis top picks. steady performers somewhat depend of market dynamics. qualcomm top u.s. semi stock going into next year pointing to the opportunities in 5g. and then evercorps going in a different dire

let's bring in the very meta julia boorstin >> it's okay that you don't have a vr headset yet, tyler,usinesses further into the virtual world of the metaverse there are next headsets coming first from apple and also facebook is working on a higher-end device that will mix virtual elements along with the real world so more of a mixed reality device then niantic is behind "pokemon go." second we're expecting more interoperability that's the ability to bring your avatar and your virtual goods from one platform to another this is my avatar we built for "ready player me." that is one i could bring into multiple different games and then there is the third piece of this, which is augmented reality. and it's coming to your phone without special hardware you'll be able to do live hologram video calls they use volumetric videocalls i have to say it did feel like i was in the room. take a listen. >> the question we have is, is the metaverse going to be fake people or is it going to be real people we think it'll be real people. we think volumeetric video is the solution to authenticity in the met

the question is what happens over the next two weekend. >>> okay julia boorstin waking up early for us coast thanks. >>> coming up. we're going to talk economy forecasts and what might be next for the central bank whether "squawk box" comes right back. >>> welcome back to "squawk box" right here on cnbc a look at futures right now, we are in the red this morning, dow off about 430 points, nasdaq looking to open lower, s&p off about 62 points. oil prices are down as well, as concerns about the variant and what it means for travel and energy continue a pace wti crude right in and out at 6771 let's show you the board and where things stand right now you're looking at companies like west pharma, down over 5%, duke realty down about 4.5% norwegian cruise line down it seems like more concern on the variant side, i think than necessarily the impact on build back better. what do you think? >> i thought the market would go up on getting rid of that monstrosity, but that's just me. we've been talking about covid all morning. perhaps no one is watches they headlines more than the fed. steve liesm

. >> not a c the reopening stocks are rallying today julia boorstin is looking at the live entertainment names >> tyler, there is more optimism that omicron will have a muted effect and that is sending in-person entertainment stocks soaring today. collect out the feedertheater ss they have been hammered in the past month right now up 10%, 5%, and amc even up 2.5% it is taking into account preticket sales for spider man the road home. concert company live nation is up over 8% and also, endeavor group that's exposed to live events through ufc and some of its other rights that stock up up 5%. also, of course, i want to mention disney is exposed to large gatherings of people via its parks division that stock is up today as well b 2.5% >> julia, what about twitter what's going on there? >> well, twitter -- well, so, twitter is trading much higher today. it had a selloff last week on the heels of the announcement of a new krechlt coming in. today the stock is up about 5.5% a couple of things in play barron's had a headline saying twitter stock is cheap, why it can double from here that was out

i'm carl quintanilla with julia boorstin and nilay check on the major averages.letely but session highs up 81 dow session low down 613 we have cut that little bit in half by 270 now is the loss and s&p held 4,600 now and now 4,660. let's get a news update with rahel solomon. >> good morning. olive garden and long horn steakhouse garden restaurant seeing its shares fall 5%. the company giving weak earnings guidance and announcing that ceo will retire. it underestimated the demand for take away and delivered meals which made up 28% of olive garden's business this quarter >>> jpmorgan chase a settlement of charges that the bank's brokerage unit allowed workers to use whatsapp to evade record keeping laws >>> shares of novavax are up 6%. emergency list using for covid vaccine developed and now paves the way for the use in the covax program. >>> purdue pharma to overturn its opioid settlement and they are not permitted under the bankruptcy code. you're now up to date. julia, i'll send it back to you. >> thanks, rahel. >>> rivian shares are lower after the company said

cnbc's julia boorstin and her avatar went inside to find out >> mark zuckerberg's vision of the metaverse is fully immersive with vr headsets, but people are already exploring virtual worlds without hardware let's build an avatar. decentral ann which is run on ethereum allows anyone to build an avatar. you n explore, talk to other avatars, play blackjack, and even buy digital landscape they can even buy ads on billboards roblox was an early pioneer of virtual worlds where avatars can play games or attend virtual concerts and you can buy products from names like ralph lauren >> i can buy a ralph lauren beanie >> you can use cyberbucks to acquire these virtual goods. good if you want the real virtual immersive experience, you need a head set. i'm wearing the quest 2, this is the avatar i built to explore horizon worlds >> meta is also working to bring remote workers into a similar virtual space. this app is called facebook workrooms and it's designed for meetings it's a sign of what a professional piece of the metaverse will look like another promising use case for one of the company's lead

to be done before the virtual world is ready for real world users so what lies ahead in 2022 julia boorstint for us, virtually and physically >> i'm here, dom, as real as this is. some key technology advancements are expected to come next year and that could really help make the metaverse a reality. first, there is some new augmented reality, virtual reality headsets expected including from two companies we talk a lot about here on "fast money. meta and apple meta is working on a higher end device this new device, code named project cambria, layers virtual reality on to the real world apple is widely expected to introduce an arvr headset around the end of next year the second key thing to watch here is interoperability once people can bring their avatars and virtual goods from one platform into another, that should make all of those virtual investments more valuable. another key thing to watch is augmented reality that doesn't need special hardware. imagine ar showing up on your photocopy. now, check out this technology this green screen room can capture someone with 30 cameras. this is vol

. >> thanks, danny >>> when we come back, julia boorstin takes us inside the metaverse once again, shek box" and this is cnbc tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. huh. is that true? geico's been saving folks money for 85 years? yeah, that's right. wait — so if geico's 85, that makes you — are you asking if i'm 85 years old? i mean sea turtles live to 150, so...nn — i — i was not. do i look 85? what! no! you, you look young, fff...you...you, you look young for...however old you are. geico. saving people money for 85 years. thanks for coming. for.now when it comes are. to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look for

. >>> instagram's ceo set to testify before congress tomorrow julia boorstin with the details. y the same senate subcommittee that interviewed whistleblower frances haugen you can expect bipartisan attacks. senators marsha blackburn and richard blumenthal saying they want to address instagram's powerful algorithms. the question is whether they are placated by moves instagram announced today, a push to different topics and to encourage kids to take a break with parental controls set to launch next year guys >> thanks so much. we look forward to that testimony tomorrow mike, final thoughts resoundingly positive two-day bounce. >> probably wouldn't be surprising to have it be digested a little bit but for now it's pretty persuasive that this is real demand. you have very broad rallies two days in a row means the low is probably to be respected that we saw last week and see how much -- >> we're how much of away from a record high right now? >> like 1% to an intraday high. >> after a very volatile period. >> absolutely. >> that's going to do it here on "closing bell. have a good even

. >>> good wednesday morning welcome to "techcheck" i'm carl quintanilla with john fortt and julia boorstinrmance for semis in 2022 after a 5% dip is now the time to buy >>> then bes

. ♪ >>> happy monday welcome to "techcheck" i'm john fofrt with julia boorstin.y still cheap? and amazon named top big for

now ♪ >>> good thursday morning, welcome to "techcheck" i'm carl quintanilla with jon fortt and julia boorstined trading week s&p is less than half a percent from a record high but the nasdaq still

welcome to "techcheck" i'm carl quintanilla with jon fortt and julia boorstin today it has been a volatiledown again this morning. we got two members of the paypal mafia to talk about why it's been such a two months for tech even as broader indexes remain near record hies >>> adobe falling shortly. what cloud and

julia boorstin's got it for us >> that's right, wolf.t the new chairman of the board will be independently director susan arnold she'll be succeeding bob iger when he leaves the company at the end of this year now, she is she was an operating executive at carlisle, and before that at procter & gamble. this move shows continuity as iger makes his transition out. bob chapek has been ceo for a while now. >> longtime p&g exec she was there for, like, 30 years. ran the beauty business and a number of other global business units. >> we will follow up on that later as well. >>> up next, bridgewater's choe chief investment officer for sustainability on whether she thinks there's more volatility, ahead. this is your home. this is your family room slash gym. the guest bedroom slash music studio. the daybed slash dog bed. the living room slash yoga shanti slash regional office slash classroom. and this is the basement slash panic room. maybe what your family needs is a vacation home slash vacation home. find yours on the vrbo app. ♪♪ ♪ ♪ remember w

>>> this week, we are look, at the rising trend of the metaverse, but not too soon to invest julia boorstinw, there are ways and ranges to invest in the building block of the metaverse. perhaps the easiest way to invest will be the chips bernstein hoists the potential for nvidia, the largest graphics and chips maker and qualcomm with its snap dragon xr platform that connects spaces bernstein has an outperform rating on both those stocks. now for vr to work, the network needs to be fast t-mobile, verizon and at&t investment in spectrum should have paid off in that regard goldman sachs highlights the original players, meta platforms, formerly known as facebook golt goldman says those are the key stocks the metaverse expert tells us to look for those giants to pursue cutting-edge startups. >> what we're going to see next year are going to be really interesting acquisitions i think from some of the tech giants acquiring more gaming platforms. some more nacent definitely see that on the horizon for 2022 >> goldman does forecast meta platforms will invest about 5% of its market cap over the next

let's get out to yule gentleman boorstin for the details what is being said and what are the implications julia? >> well, it was his first congressional testimony, and adam mosseri defended the efforts to protect teens on the platform, saying it's in the company's best interesting to make it a positive and safe one. senators pushed mosseri whether the incentives are at odds with what's best for teens? >> have you not done things to get more teenagers interested in your product are you not worried about losing them to other platform you better tell the truth, under oath. >> absolutely, senator senator, we try to make it as relevant as possible for all ages teens do amazing things on instagram every day, but we also invest, i believe more than anyone else, in keeping people, including teens, safe. >> reporter: mosseri was pressed by a number of different senators whether he would agree to permanently halt instagram for kids he said, no, it makes sense to give kids and teens a service just targeted for them he repeatedly said that inns that gram should not be the only one criticized, and it's doin