the chairman and ceo of adobe.>> thanks for having me, it's great to be back on the show >> you said at the end of the q&a, we are on track to up seed our target that were just provided in march, is that the real story in this quarter >> it absolutely is. we are executing across all out of our initiatives when you are talking about what's happening with content and people creating more contents and personalization needs for that everything that's happening with automating documents and the r relevance and the importance of pdfs and all that, enabling companies to have a digital presence in commerce we are in all of those three growth opportunities as market leaders. we feel really good about the quarter and the year i think more important that we feel even better in the future >> i got to tell you, people making these snap judges at the headline nike and facebook and ford and hone honeywell, people want to talk about the guys that i love and so do you. these are the clients. how are you able to consistently get the

elise preston, cbs news, new york. >>> well, for people who are traveling, adobe analytics says thatinations are las vegas, hawaii, orlando, and key west in florida. >>> so coming up on "cbs mornings," a discussion about athletes and mental health. nate burleson talks with kevin love of the nba, brandon marshall, formerly of the nfl, and didi richards from the wnba. >>> plus, the director of the documentary "britney versus spears" stops by the times square studio. >>> and award-winning chef christina tosi tells us about her new children's book, "every cake has a story." >>> that's the "cbs morning news" for this wednesday. thanks for watching. i'm anne-marie green. have a great day. ♪

now i -- how about adobe i loved this stock since it traded in the '60s it's now in the 600s they'llo selling software they just reported an awesome quarter as the ceo told us when he came on "mad money" last night. it was a blowout almost every line item was better than expected he issued strong guidance for the current quarter, too oh adobe stock got crushed. why? because he used the word seasonality. in the sense there was seasonal softness now the jackals and mangy dogs who follow this growth company believes that growth should always be unencumbered the summer should be just as fast as the winter that there can't be any slowdown whatsoever or else something is going wrong. now if he simply said the usual week but it wasn't as bad as previous summers which has the adage of being true, i bet the stock would barely have been dinged he hit it with that seasonality hammer and the stock pulled back nearly 20 bucks today. again, unvarnished cannery gave us a buying opportunity that we don't deserve. adobe has been one of the greatest stock performers of our era but has periodic hiccups

microsoft shares up 35% year to date adobe up 33% and oracle up 37%. i put these three stocks up here because they're three of the most important companies in the entire tech space, certainly software and, carl, by the way if you look at microsoft, versus adobe, the top two software companies by market cap, microsoft is roughly 7 times larger than adobe, just to put things in perspective in terms of market cap. carl, back over to you. >> dom, it is massive. it is interesting you mentioned that coupa, workday divergence coupa had a run over the last several years, one of those companies with a very specific solution around spend management, kind of a next generation beyond workday and a lot of those companies peaked in february, and then fell off after that, some of them have been coming back pager duty i think a good example at the end of last week. is that part of the software story overall too, just the different sizes and the different runs that these companies have been on >> and not to mention covid, right, and how it impacted a certain kind of bu

. >>> now, let's turn to adobe moving lower by almost 3% despite the company's q3 results and beating street expectations and annual occurring revenue is what some investors might be eyeing and topped analyst expectations but not by that much and adobe beating by quite a bit lately adobe still outperforming the s&p this year, julia >>> up next, investing in the media space. launching a new spac he's on the other side of the break. the ceos of squarespace and the $10 billion ipo fresh market 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. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. the internet wasn't built to be a place of walls. but then the walls went up and choice became limit

another earnings release crossing adobe. josh lipton?f $3.11 versus expectations of $3.01 revenue 3.49 billion for q4 guidance $3.18 versus expectations of $3.08. revenue slightly ahead digital media and recurring revenue. creative 9.78 billion. document cloud 9.79 billion. stock was up 30% this year right around the all time highs and given that back here in the afterhours back to you. >> thank you be sure to catch adobe ceo tonight on "mad money" 6:00 p.m. eastern time pivoting back to the broader markets, steve, i feel like you were bearish with 5% or so from the all-time highs do you think we get down from 10% or more or not >> i think it's possible rather than looking at sentiment, what i have been looking at is the liquidity and buying on the dips and retail just hasn't been there despite what you hear from google and the other big tech companies. people are going back to work. you have had the excess employment benefits roll off that safety net that buy the dip mentality as we see today isn't as reliable as it was and need to see

. >> you want to talk about adobe? >> of course. >> the stock is down 3%.bviously they've had great growth, but tell me your thoughts on the quarter. >> so a lot of people are saying, that the moment that he arrived and said seasonality, wait a second, we're buying growth stocks, not seasonality, so that's a oops moment, where you think, i have to sell adon'ti. this has happened so many times, like every year, and what you've had to do is buy the stock between now and their max event, which is october 26th to 28th. it's been a great trade. this company is doing so well, the margins continue to be good. there's only one analyst that's negative everybody else raised their target the digital experience is fantastic. they say, it it finished down 22, so buy -- if anyone thinking they didn't put up a good quarter, it's simply someone that doesn't understand the juggernaut that is adobe. >> it's a six-week low here. so you're saying -- the other thing we heard this morning is it's not the typical adobe blowout. >> you know, three our four times i've seen the not-

of course, adobe, stitch fix and fedex.d crm tonight on "mad money" and we'll get to the fed tomorrow at 2:00 p.m. eastern time and let's get to the half. >> welcome back to "the halftime report." i'm scott wapner the state of stocks after the worst state of your money in four months. is it safe to buy the dip or is it simply too soon we'll debate that with the committee as one member is buying today at least one we'll also be joined in a few minutes by morgan stanley's mike wilson who just revised his call on the market and you need to hear that. stephanie link, josh lebenthal and the stocks got a nice bump off the open at 11:00 it was all gone it's coming back a little. the dow is up 141. the s&p is good about 17 and a third or so of a percent and t

of course, adobe, stitch fix and fedex. don't forget, cramer has adobe and crm tonight on "mad money" and we'll get to the fed tomorrow at 2:00 p.m. eastern time and let's get to the half. >> welcome back to "the halftime report." i'm scott wapner the state of stocks after the worst state of your money in four months. is it safe to buy the dip or is it simply too soon we'll debate that with the committee as one member is buying today at least one we'll also be joined in a few minutes by morgan stanley's mike wilson who just revised his call on the market and you need to hear that. stephanie link, josh lebenthal and the stocks got a nice bump off the open at 11:00 it was all gone it's coming back a little. the dow is up 141. the s&p is good about 17 and a third or so of a percent and the nasdaq with a nice bounce of two-thirds of 1% and russell is good for 7.5 points. the tech has been volatile josh, the central question, buyable dip or is this the start of that correction that we've been thinking might be coming? what do yo

microsoft and then everyone else not just because of the 2.2 t $2.2 trillion market cap the next is adobe. seven times the size of it but also because at that size, it continues to produce returns reserved for stocks with a fraction of that microcap. all names that have yielded returns between 30 and 40% just so far this year one of the bigger etfs is the i shares expanded tech software fund igv. it's been an underperformer against the broader technology sector it also lags the overall s&p 500 this year. fortnet. the fourth best stock in the entire s&p crowdstrike is another cyber name not in the s&p 500, but still up nearly 30% year-to-date, but it hasn't been all rainbows and unicorns with investors out there. check out auto desk, citric systems, coupa software. coupa reports earnings after today's closing bell and the options markets you guys were talking about that earlier, is pricing in what could be a move up or down of 7% on the heels of that report so there could be a lot of action in some of these beaten up software names frank, back to you >> appreciate it microsoft actually rei

adobe analytics say for people who are traveling some of the top domestic destinations are las vegas, hawaii, orlando and key west. >> in case you missed it there is no more fair matching a delta airlines. over the weekend they cut it best fair guaranty program. that is where customers got the refunds or the difference plus a travel voucher if they found a lower price. the party is over but hey, the weather party is still beginning. this morning i was looking for the extra blanket. >> wide open. fresh air in the house pick eventually will see some smoke trying to return for the bay area but it is nice to have full temperatures overnight and clear air overhead. it is rather breezy. we are in between the storm system that brought us the very light showers. it is going to bring warmer temperatures as it builds toward us but it is a very pleasant weather pattern. stronger the waves? most with sustained winds are in the 10-20 miles per hour range. is still in onshore breeze but it is an offshore wind fighter further in and. 60 miles an hour in fairfield because it is an offshore wind there

adobe analytics says flight bookings in august 24% compared to july. things giving flights are down by 18% compared to 2019. >> are you surprised that it shifted that much? >> travel and flight bookings are the sectors that are very prone to changes in the pandemic. >> experts say the people who are still traveling can look forward to cheaper tickets. >>> there is no more fair matching at delta airlines. over the weekend, the carrier cut its best fair guarantee program. that is where customers got refunds for the difference, plus a travel voucher, if they found a lower price. >>> in a flash, a texas couple's wedding photos were stolen in san francisco. the couple, alexandria headley and tyler hamel, senior here, hired photographer ashton wilhite to take their wedding photos. while the photographer was in the bay area, her car was broken into all equipment stolen. the couple is offering $7000 for the safe return of the hard drive. new york couple got creative when the u.s. canada border close back in august. >>> they didn't want any immediate family to

cinthya cisneros: sí, estoy en mi casita de adobe, ah, mi changarrito, como le digo, se llama, "la cheve éxito; platíquenos de este programa que se llama "10-thousand degrees", "10-mil grados". cinthya cisneros: sí, "10-thousand degrees" es una organización en el Área de la bahía, que asiste y ayuda a estudiantes de bajos ingresos, ah, para atender a la universidad; lo hacen con becas, una persona que los, los ayuda durante todo su transcurso de la universidad; ah, y sí, es un programa muy poderoso que me ayudó a mí, cuando yo era una estudiante en la preparatoria, y este, ellos fueron muy, ah, hubo una conexión clave para que yo pudiera estar donde estoy; entonces, sin ellos, honestamente, no, no, no, no sé si estuviera en la posición que estoy hoy. damián trujillo: sí, hay muchos estudiantes, yo me voy a incluir en eso, que, cuando están en la prepa, están pensando, "no, el colegio no es para mí, no es para mí, no es para mí", hasta que llega una persona, y le abre un poco la puerta a uno, y se asoma un poco, por dentro, y dice, "¡ah, sí!, creo que el colegio sí es para mí"; que es lo

lunch or happy hour crowd muster was looking forward to seeing large companies like cisco, zoom or adobe bring their employees back. but because of convenience and concerns over covid-19. >> many tech compaaies have opted for hybrid work models or given the work from home option to employees full time remote work means empty office buildings in anything right now. affects, you know, our business even if where or miss and yell 5, 5, customers that definitely hurts the absence of corporate catering has also negatively affected. muster is business. he is, however, thankful for residents who live in the area and for the temporary street closures put in place by the city shutting down the streets and allowing people to come dine. that's definitely helped out quite a bit and it creates this community feel that has been lacking so much here in downtown san jose. >> there is hope that office workers will return, especially as vaccination numbers improve here locally santa clara county has one of the highest vaccination rates in the state. >> with the county health department reporting that almos

back leaving the feel but with an apparent ankle injury. english teenager jude bellingham gave fresh adobe the lead against turkey champions, sheets any bo spelling, and then set up no wages truck early holland. number 2, this is 21st. go. now in his 17th game and the competition see want to determine the final scope south create job motors and po, hang stealers, have books, their sports and the asian champions lee quota. finally, jumbo just made it thrown penalties after the game finished $10.00. after extra time b to con champion, getting the better of thailand's at some united for 2 in the sheets out. po, hang how to easy a tom of it 1st off, go. so then beat japan's 3 to suck up one nail. now the world anti doping agency will review where the cannabis should remain a banned substance. to move follows us princess chicago richardson missing the so carolyn picks after testing positive for the drug water says kind of this will remain bound in 2022. well, more research is carried out. what a says the current rules are aimed at catching athletes who use kind of is during a compet fission. a

and two, adobe that stock also down despite earnings and revenue shares up more than 40%. stom three, hyatt hotels offering 7 million more shares adding to the market it will be used to fund the pending deal and the bonus stock is stitch fix. shares popping this morning. posting a surprise profit and growth in women's and kid's. everybody is looking for new threads, certainly as we all reemerge >>> on deck, the golden ticket of streaming locking up a deal to bring willie wonka into the fold and other trending stories, next >> announcer: today's big number $2.7 trillion. that was the u.s. budget deficit during the first 11 months of the fiscal year according to the treasury department. the deficit rose about 10% during the same period a year earlier. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ your doctor gives you a prescription. let's get you on some antibiotics right away. you could have it brought right to

it looks like they came here for shelter spent the night in this adobe dwelling that's used by the sheepherders. the lama heard us during the spring and the summer. what they did after that was to start getting rid of what they were carrying. and we see this all along the road because is simply too exhausted to carry their things any longer. 17 year old horse, she has only kept a sheet. his feet are cracking for walking so much. at the 1st jillian border town called china doctor, yet looked up, yet is on call 24 hours a day, or 2 men of the migrants osmotic, which causes difficulty improving at these altitude it accurately hydrogen and intense cold and up with hypothermia. who have seen much of a death caused by each end of the victim's death, taking off his or her claws, thinking they are not hard instead of freezing. but there are other hazards apart from robbery, many migrants who can't pay traffickers or bolivian police to allow them to cross into chilly. say they've been victims of sex abuse once here. the danger isn't over either, says colonel andrew has had in ash nikosa been in smuggler

the before and the after look at the next one, adobe. it's the exact same technical setup. it's called an ascending triangle you see it there a big move, a big rest, and a big breakout, right? the authority of that sort of 535 level, it's now up 25% since the breakout point one more before and after and let's get to netflix look at apple. not as robust a breakout more nascent, but it's the exact same setup a big advance, a big rest, and then you move above prior tops a textbook pro-te typical breakout well, netflix. here's the final chart what do we know? a big move off the pandemic low. got ahead of itself. got ahead of the market and is now basically backing and filling for almost a year. that high that you see where the line is drawn is back in january, and we are toying with the prospects of breaking out. the bet is that it does break out. there are few that are still left, amazon being one, netflix being one. do all stocks that set up like this break out of course not, but you got to play the cards the way the cards are dealt. buy for the breakout. >> the fact that the

we looked at the breakout in nvidia or adobe or the prospective one in netflix look at the iyr. the iyr returned to its pre-pandemic level and broke out. now look at the final chart, xlu. xlu is toying with the prospects of finally exceeding its high, right? its high before the pandemic was $71. it was a monday, february 18th, and here we are knocking on the door more than a year later, finally breaking out we like xlu long, iyr short. >> all right so, mike, how do we trade this pair >> yeah. so first of all, i mean iyr, which i think ended the day pretty much spot-on, all-time highs today. i mean there is some rationale for why people are chasing these things at pretty heavy valuations overall, this is index that's trading at a mid-40s multiple on a trailing basis so pretty expensive. but of course why are they doing that one of the reasons is that if we are imagining that fed policy is going to be a little bit more prolonged, that that could basically put the reflation trade back on the table. you would be a seller of treasuries and you would be a buyer of something that creat

already drink has more from adobe its claims and counterclaims, but by both sides, civilians in quite on what to double must intellectual region, a remote community in the lecture region. and of course the response from the german military, especially the air force. now what the air force or the military in nigeria is saying, is they targeted a group of fighters belonging to quite a fraction that is allied with a nomic state known as the limit state in west africa province. and that they killed at least 28 people long with collaborators. they also insisted that fishing activity has been banned in that area. so the claimed by the community that they all fishermen, you know, since fishermen doesn't hold water. now the military uses system that has these area they've been bonded, it's not occupied or it's not a settlement, but an open space. why they notice the gathering of a large crowd of individuals. now this is not the 2nd, this is not the 1st incident this month. on 16th september, there was a military strike in the north east that killed at least 9 civilians. in the initial, the in

cinthya: yeah, i'm hanging out at the oldest building in napa, the old adobe house, and this is wheress exists. so my little business is la cheve bakery and brews here in a building that was built in 1845. built when it was still mexico, which is beautiful. but yeah, we are known for our breakfast. we have a breakfast menu that transitions into lunch, and then we have over 40 options of craft beer with beer that i make as well. and then my mom is the head baker for our bakery. so we also have a ton of baked goods that we make fresh every day. but, yeah, this is my cozy little house. damian: so your chemistry degree is coming in handy with your craft beer business? cinthya: yes, yes, yes. i think that's how this whole came about. i started brewing at home and it just became a thing that we would all hang out in the garage and i would make beer, my uncle would make tacos, and, you know, my dad would hang out with us while doing it, and my mom would make the pastries. so it just became a thing. damian: i think i chose the wrong major. i should have chosen chemistry but not that-- i wasn'

tuesday, more earnings, adobe and stitch fix are out.e will see more discussions on boosters from the cdc and what recommendations they make. thursday, the white house post a summit with companies in the semiconductor supply chain. we will bring you the details. this is bloomberg. >> etf and mutual funds are like meghan markle and kate middleton. >> that is the tiktok of hilly stacks, also known as misses dow jones on social media giving the low down on the difference between etf's and mutual funds area big banks and -- funds. big banks who have struggled to reach new customers may have a solution, young tiktok stars who have found big money in being a wall street influencer. one claims to be making half $1 million a year and some of his pay in company equities. this is such a fascinating story. talk to us about who they are and who they -- how they are changing wall street? >> influencers have existed since social media took off. they are just starting to trickle into the finance industry. what is interesting is that makes sense. you lo

more tech earnings tuesday with adobe and stitch fix out with quarterly results.nesday we will see more discussions from the cdc. we are going to see what recommendations of the cdc makes. and thursday the white house holds a summit with companies in the chip supply chain. we will bring you all the details. this is bloomberg. ♪ emily: welcome back. an oakland-based digital market strategist is suing pinterest claim and the founders used her ideas to launch the platform. christine martinez said as she came up with key concepts including allowing users to create pin boards to reflect their interests, but was never compensated for her ideas. pinterest has responded saying quote, we are proud of what we built at pinterest and appreciate everyone who helped shape the platform over the years. however, these allegations are completely without merit and we will defend our position in court. joining me now is christine martinez, the accuser in the case. thank you so much for joining us. let's start from the beginning. what are the ideas you believe you contributed to pinte

charles: i think the technology space, we are big believers in amazon and adobe because of their scale. you find them in businesses that would include microsoft and workday, and others that are maybe not as obvious. for us, the longs don't really change much. they continue to compound. they continue to take market share. microsoft is an example that yes, $40 billion doesn't really matter, but it is a signal that they have more capital than they know what to do with, and like many companies, balance sheets are fantastic. for us, i have been very cautious on consumer facing businesses that are going to face tremendous labor and supply chain issues into christmas, as well as industrials that will not have the pricing power necessary to manage supply chains. jonathan: really important conversation. we appreciate your time to kick things off this money. as always, charles kantor of neuberger berman. you have been talking about it and talking about it, the company's getting it done right now. it sums a lot like what charles just told us. tom: i get the hate mail, and the answer is i am getti

going to see decelerating growth but accelerating earnings growth tonight we will talk about fedex and adobe. that may not be the case that could be the case where we are miss aligned where the price action is to date or at this current point. we will know that as we get to the close of q3 and see possible announcements for q3 and 4, too. >> we are on the precipice of the next we have this evergrande thing looming. if you look at what citi said, it is all over the place whether they would step in that tells you where we are in terms of the thinking on this and how it plays out >> the fed doesn't need a whole lot of stretch to species tem i can -- see systemic risk i don't think we are getting anything tomorrow. i think we were not getting anything tomorrow before the evergrande thing the feds have to be aware of it going into this meeting from two months ago i do think markets wanted to believe on some level that market volatility con tagion factors could be nothing more than we described it a market that came in at all-time highs it behaved almost like it did september 3 of 2020. if you thi

he was not embarrassed by his little tiny adobe home in santa barbara. he became alive there in such a different way. he loved working outdoors, chopping trees and he loved taking his visitors around, here's brian mulroney. the they both had irish heritage, and had these fathers who are great irishman storytellers. the so the two of them would have this great banter going back and forth. the and mrs. mulroney, was this great beautiful woman, and i overheard when i was snapping this picture, she looked at mrs. reagan and she said oh nancy aren't you stylish in these boot cut jeans. mrs. reagan looks at her and says, these old things i've been wearing these since the last time these were in fashion. so some of the things in the closet, if you hold up if you hold on to them long enough they'll come back around. good and we can laugh at all the close, the but you know i was ahead not behind the fashions in those times. that so when he had gorbachev up to the ranch, and here's gorbachev riding shotgun, and ronald reagan is behind the wheel of his jeep, and th

day we'll get more on the market pullback if you're looking for a selloff, they inishache work day, adobeales force at overweight. you can find out why at cnbc.com/.com. we pro we're back in three minutes. t-mobile is the leader in 5g. we also believe in putting people first by treating them right. so we upped the benefits without upping the price. with magenta max, get our best plan for 5g. with unlimited premium data that can't slow down based on how much smartphone data you use. and taxes and fees are included! you won't get that from anyone else. right now, pay zero costs to switch! and bring your phone -- we'll pay it off up to $800 bucks. only at t-mobile. yeah, i mean the thing is, people like geico because it's just easy. bundling for example. you've got car insurance here. and home insurance here. why not... schuuuuzp.. put them together. save even more. some things are just better together, aren't they? like tea and crumpets. but you wouldn't bundle just anything. like, say... a porcupine in a balloon factory. no. that'd be a mess. i mean for starters, porcupines are famously no

emily: amplitude is what adobe does for marketing and sales force does for sales -- salesforce does forch has been made about your leadership. do you think your age is an advantage? spenser: i've been really lucky within silicon valley. there were a lot of people that were willing to invest in whatever potential they saw in me from a relatively early age. i came out when i was 21 and i've been very lucky to lead amplitude for the last 10 years. i think it definitely helps you -- i'd say the bigger thing about silicon valley is people don't hold your age against you, which is something that's been very frustrating for me, growing up in other parts of the country. i'm just really excited that we are able to show that not just what we've accomplished so far, but that there's a massive opportunity ahead of us with amplitude. emily: quick question. post-pandemic growth. now that we are coming out of this, what you see as the road for growth ahead? spenser: we are excited about the forecast. exactly when and what growth will happen is hard to say. the macro trend of digital becoming way more

and adobe veteran joined apple to run the software group for the company's smartwatch.ay he will replace dunfield as a manager in charge -- dou field as the manager in charge. -- battling with roku and google. amazon will offer two lines of tv. it's already one of the largest players in the connected tv industry and sold more than 100 million fire tv devices. shery: take a look at the markets right now. we are seeing kiwi stocks gaining ground and rebounding from lower levels in the week come up .2%. we are also seeing asx 200 futures gaining ground after falling for two consecutive sessions. we will continue to see the pressure on the aussie dollar against the u.s. dollar given the rba's cautious taper plan. we are seeing nikkei futures under pressure, continuing to extend declines after seeing its worst day in almost three weeks, the first time it actually fell in nine sessions and the japanese yen holding at around the 109 level. it has been trading at a really narrow range. we are watching for any headlines on the virus given that prime ministers suga extended the v

he wasn't embarrassed to bring margaret thatcher up to a little tiny adobe home up at the top of thep in santa barbara. he came alive there in such a different way. he loved working outdoors, clearing brush, chopping trees, loved taking his visitors around. this is brian mull rooney, seeing these two world leaders bouncing around the back of a suburban was enjoyable. they had irish heritage and fathers that were great irishmen story tellers so the two of them would, you know, always have this great banter going back and forth and hilarious sceners. mrs. mull rooney was a great beautiful woman. i overhead when snapping this picture she looked to mrs. reagan and said, oh, nancy, aren't you stylish in your trendy boot cut jeans, which were the thing at the time and mrs. reagan looks at her and said, these old things? i've been wearing these since the last time these were in fashion. so some of the things in your closet if you hold on to them long enough they will come back around. i was wearing a burberry skirt, did anybody notice that at the beginning, but, ladies, i was wearing burber

sure up to a little tiny adobe home up at the top of the hilltop in santa barbara. he really came alive there in such a different way. he loved working outdoors wearing brush shopping trees love taking his visitors around. this is brian mulroney seeing these two world leaders bouncing around the back of a secret service driven suburban. it was quite enjoyable. they both had irish heritage and had these fathers that were great. irishman's storytellers. and so the two of them would you know always have this great banter going back and forth until hilarious stories and this is mulroney was this great beautiful woman and i overheard when i was snapping this picture. she looked to mrs reagan and she said oh nancy, aren't you stylish and you're trendy boot-cut jeans which were the thing at the time and mrs. reagan looks at her and said these old things i've been wearing these since the last time these were in fashion. so some of the things in your closet if you hold on to him long enough, they'll come back around by the way. i was wearing a burberry skirt today notice tha

zoom actually tracking here for the worst quarter since going public back in 2019 and adobe a worst day in a decade. rough sledding as we know. game delays weighing on the names and some bucking the trend today like activision settling for harassment and discrimination back to you all. >> josh, thank you for that run down let's get to bob pisani. bob? >> this is a lot, very tricky market energy we have been talking about. global demand for oil high and limited constrained supplies a great run in energy stocks names up 15% energy is 3% of the s&p 500. pile all you want into it. it won't move the index that much tech is 40%. and you can see they're still up today and a lot pushed to the limit as far as how far they can go banks similar situation. nice move up some up 10% or so as rates moved up but again a little bit overbought and stopped going up and most of the big names are down today industrials and materials with a slightly different problem hitting also supply chain issues and the slow down in china weighed on them. you see mixed overall today. consumer staples, different situation

>> we like amazon, google and snap and then in software we have continued to highlight microsoft, adobe and intuit. i like the transaction with mule chimp. they have a great asset there. those would be three names on both sides we would like on software and internet. >> if things worsen in china even though it's stemming from the property market and not the tech market or at least this week's news flow is which are the names to highest expose you or correlation to what's going on there that you would steer clear of >> many of the name that is we cover do not have any exposure to china so software and internet we don't have a u.s. based exposure with tremendous exposure i think as things suffered there perhaps investors felt more confidence with the u.s. market and it could build and strengthen the position for some mega cap names across our coverage but we don't have direct exposure to names that sell into china. >> good to have you here today >> thank you. >>> we have got some news out of the energy space brian sullivan on the news with potential details of a deal. >> yeah. thank you.

the low 200s, sold it in the middle 300s trading at 420 now the names in this are microsoft, c.r.m., adobe. they carry an 8% weighting in the index. if you are worried about c.r.m. on valuation, you can mute a bit of your risk with the other ones but microsoft seems like it is over valued to a lot of value players as well. i am just trying to crush a bit of the risk and buy the i.g.v. instead of any one of the names. >> costco, the company's conference call is underway and we will bring you the latest we are following new developments on evergrande >> deadline for a interest payment has come and gone. what happens next, after the break. ♪ ♪ ♪ ♪ ♪ ♪ ♪ feel stuck with credit card debt? ♪ move your high-interest debt to a sofi personal loan. earn $10 just for viewing your rate — and get your money right. ♪ before we talk about tax-smart investing, what's new? -well, audrey's expecting... -twins! grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you

reported earnings and comparable sales that were much better than expected today, after the close, adobe and fedex will report. on thursday, costco and nike and nike i think will be the most important one because that's truly a global company. they get about 40% of their sales in the united states 60% outside, so it will be interesting to hear what they have to say about how covid or anything else is affecting their sales. kelly. >> i'll pick it up our next guest has trimmed his equity position from about 80 to 60%, but despite being more cautious these days, he said he would selectively start buying today. very selectively here with his ideas, senior portfolio manager at washington crossing advisers. what told you a few weeks ago to start trimming back on your equity position? it's not a major selloff you're coming down from 70, 80% to 60%, which is kind of what people recommend >> so we've been doing that over the last several months. we have a barometer we follow in a non-biased way you're seeing a slowdown within the economy. perhaps it's covid related perhaps there's other reasons.

salesforce is in our 12 best ideas portfolio and a number of ore names like adobe, like service now andwe like the players in the cloud, the pipes and the wiring that a runs the cloud. lauren: i love that we ended by agreeing. nancy and mike, thank you for the time. that does it for me. cheryl casone's in for liz claman today. take us through the interesting hour of trading. cheryl: interesting discussion, lauren, because we're going to dig into that spac bubble with all of that money coming out of that market. lauren, thank you. the dow can has snapped a three-day losing streak as the s&p 500 and the nasdaq continue their record runs. as you can see, the dow is up by 97, s&p is up almost 9 points. we can be in record territory if that sticks. the nasdaq up right now more than 16 points. the nasdaq looking for two straight closes at-time highs. -- all-time highs.