. >>> time to get a check on the top stories with bertha coombs good morning, bertha >> good morning, frank foxconn is expanding investment in lordstown motors. announcing foxconn plans to spend $170 million to buy common stock and preferred shares in the ev maker the investment provides fresh capital for lordstown as it works to increase production of the truck model. foxconn and lordstown announcing they will develop their first electric vehicle together, but did not elaborate further. shares of lordstown surging in the pre-market >>> virgin orbit getting a cash injection from richard branson's group. orbit revealing the third quarter results that branson's company and existing shareholder made a $25 million investment last week. lowering the forecast for orbit from 4% to 6% now. >>> shares of nintendo rising in overseas trading after the video game maker raised full year guidance the company reporting the first half net profit rose 34% from a year ago thanks in part to stronger sales of software and switch console and a weaker yen. nintendo calling on a short year with the supply c

. >>> and employee exodus under way at twitter bertha coombs has more good morning >> good morning, dom twitter staff is suffering a new wave of employee departures yesterday after a number of staff rejected the elon musk's ultimatum telling them they need to commit to hard core work environment. maintaining long hours at quote high intensity most spent the past 48 hours weighing options after waking up to the wednesday email requesting employees make a decision by 5:00 p.m. thursday those who did not opt-in would be given three months severance. internal slack messages shared with cnbc showed that engineers and other employees were posting good-bye messages to a chat group in the run-up to the deadline hundreds of salute emojis indicate thank you for your service were streamed and good buy messages after the deadlines passed and resignations were apparent, twitter emailed remaining work force saying the company is temporarily closing its office buildings effective immediately and will reopen monday along with the youemail, musk h stricter measures saying you should meet with your teams

let's get to the top stories with bertha coombs >> good morning, frank apple is warning of ongoing covid restrictions in china are hurting production of iphones. the company temperaorarily scald back the production of the iphone 14. the factory where the pro and pro max models are made is operating at a significantly reduced capacity the company says it will likely ship fewer devices and customers will face longer waiting times all of this coming amid the holiday sales period for apple. >>> berkshire posting a big jump in operator earnings the third quarter results. that figure totally up $7.76 billion. the company suffered a $10 billion loss on the investment during the quarter due to the ongoing market turmoil berkshire revealing it spent over $1 billion over share buybacks bringing the total to more than $5 billion >>> employees at home depot store in philadelphia overwhelmingly rejecting a plan to become the retailer's first to unionize. the national labor relations board reported 51 workers voted in favor and 165 voting against. the company and union organizations both have five day

. >>> let's get to some of the other corporate stories with bertha coombs. good morning, bertha >> good morning, seema another black friday in the books and p the numbers are in adobe states consumers spent $9 billion in shopping on black friday up 2% compared to last year. electronics and toys and exercise equipment was high. buy now pay later increased from the prior week 80% >>> adidas ceo and other senior executives discussed as far as four years ago the risks of an ongoing business relationship with kanye west. now known as ye. one they feared could blow up any moment according to the report, a 2018 presentation to the executive board highlighted the risks of working with west and detailed mitigation strategies should the company need to cut ties with the rapper who now goes by ye legally. adidas leaders balked at the concerns and continued to work with him which raked in $2 billion for the company a year. >>> and bob iger is holding a town hall with employees today at 12:00 p.m in a memo, iger says he will discuss the future of the company and answer qu

bertha coombs is joining us from target in fairfield, new jersey with the outlook it looks calm for right now, bertha >> reporter: the calm before the storm. back in the day, we used to have the long lines outside as people were waiting for door busters. no more. we don't have that now this target will open regular hours at 7:00 a.m. not the wee small hours to get people rushing in. part to reduce crowds and now they don't want to push consumers, necessarily the national retail federation expect 166 million of us will be out shopping this black friday weekend and cyber monday a lot of it happens in stores. the nrf expects with all that spending, holiday sales will be up between 6% and 8%. reaching nearly $1 trillion. analysts say when you adjust for inflation, sales will be up just 1% to 3% which makes this the slowest christmas since the financial crisis when sales declined from big box retailers like target and walmart, getting consumers to spend is a game of "the price is right. they had to discount to get product out the door the big question this holiday season is just how much more

>> first of all, thank you, bertha coombs. this was built, many years in the making, a decade in the making, billions and billions of dollars and it is going to take us back to the moon and it at some point would potentially go to mars. elon musk is expected to have their orbital test flight out will challenge some records the sls will make if it gets flying before starship. >> if we go to mars, i want to take matt damon with me because he knows how to make mow tat toes >> i don't want to go to mars. i'd go to the moon, though. >> read ray bradbury >>> money and politics, they're like -- what did forrest gump say, they go together like peanut butter and chocolate? we'll tell you where trillion airs are putting their money in these midterm elections. that's robert frank. >> es, and crocs rocking today up 8% on earnings. we'll talk to the ceo about what's working also the challenges facing the company. cost, currencies, much more. "power lunch" will be right back - oh, the stock market is doing that fun thing again. news from th

i'm bertha coombs with your cnbc news update this hour.th korea fired three more missiles including an icbm late last night after launching nearly two dozen rockets over the past two days. the test prompted the japanese government to activate its warning systems. north korea says the demonstrations is in response to large scale joint military exercises between the u.s. and south korea. >>> the suspect who violently assaulted paul pelosi with a hammer last week was in the u.s. illegally according to immigration officials. david depape, a canadian citizen, has an expired temporary visa and has been in the country since 2008 according to records depape could be deported back to canada by ice but would complete a sentence here first if he is convicted of any crimes. >>> and commissioner adam silver says he'll be meeting with kyrie irving to discuss irving's decision to post a link to a film containing conspiracy and anti-semitic material. irving defeated tweeting a link to the film last week but has since pledged to work with anti-defamation l

thanks now a news update from bertha coombs >> hi, john. here's what's happening. two days after millions of voters cast their ballots in the midterm elections and control of congress remains undecided nbc news projects the gop will regain control of the house from democrats, while the senate hinges on a few tight races in arizona, nevada, and georgia >>> president biden will meet with chinese president xi in person at the g20 summit in bali next week. the highly anticipated meeting will be the first time biden is face to face with xi since taking office. >>> meantime the russian president vladimir putin will not attend the summit preventing the chance for him and biden to meet for the first time since russia invaded ukraine in february >>> hurricane nicole making land fall in florida's atlantic coast last night causing widespread power outages and potentially life threatening storm surges. the rare november hurricane weakened into a tropical storm as it made its way over east central florida, bringing continued strong winds and heavy rains. hurricane season doesn'

let's get to bertha coombs who is at a target store in fairfield, new jersey. good morning, bertha >> good morning, carl. both target and walmart have talked about their consumers being pressured by inflation and less apt to spend on discretionary items but 'tis the season for discretionary spending while they're trying to coax them into the stores, they didn'topep all that early. this target opened at 7:00, walmart at 6:00, but not with the big door busters we saw in the past that prompted people to come in the first hour the question is whether they can coax consumers to loosen the purse strings this black friday weekend. critical for target which already said it had to discount inventory heavily in recent months consumers have been looking for black friday sales and when they looked online, walmart got the most traffic online. target came up last behind the big box retailers, including amazon now, analysts at evercore this morning say that all of the major retailers are starting to see more of an uptick in online traffic coming into this weekend. and number o

bertha coombs joins us with more details. >> walgreens is getting a boost and a leg up in the land grab owned by walgreens, struck an $8.9 billion to acquire summit health cigna's evernorth is making a strategic investment summit citymd has locations in new york/new jersey area and has stand-alone physician practices which is one of those things everyone is in the market for right now. the combined company will have nearly 700 provider locations in 26 markets for walgreens the deal provides more doctors as it leverages its 53% stake in village md to add urgent care. part of ceo's strategy to diversify the pharmacy giant she has said she is focused on investment in the health care unit right now it's part of the reason why the stock has struggled so far this year if this village md deal closes at year end, the health care division of walgreens will become positive early in 2023 and the deal itself will boost 2024 adjusted earnings and fiscal 2025 sales. it's not clear how much significant that is contributing last week ceo david cordoni signaled the company was in the hunt for tuck-ins a

i'm bertha coombs.s our cnbc news update this hour polish officials and the head of nato both saying that a missile strike in polish farmland did not appear to be intentional they also believe the blast that killed two people was probably launched by air defenses in ukraine. if russia had deliberately targeted poland it could have risked drawing nato into the conflict >>> the average number of covid hospitalizations and deaths continue to fall this comes as the emergencef new omicron subvariants can evade vaccination and immunity from previous infections. experts say this could be the sign of a new phase of the pandemic where fewer and fewer people who contract covid are sick enough to be hospitalized and the senate is expected to hold a key vote wednesday on a bill to codify federal protections for same sex marriage the vote would determine whether to proceed to the bill, which would set the measure up for possible passage democrats are aiming to pass the legislation before the start of the new congres

bertha coombs is going to let us know something she's got a cnbc news update bertha >> hey, brian. here's what's happening at this hour within the last hour the white house said president biden is confident that there will not be a nationwide freight railroad strike next month. after meeting with biden today congressional leaders from both parties are saying both chambers will move quickly to impose a settlement the unions say washington's intervention would sicken, infuriate and disenfranchise railroad workers >>> a survey of last week's walmart shooting -- or a survivor rather of last week's walmart shooting is suing the retailer for $50 million the store worker's suit accuses walmart of continuing to employ the shooter as a supervisor even though he, quote, had known propensities for violence, threats and strange behavior >>> and british royals are coming to america. prince william and his wife kate will attend an award ceremony tomorrow in boston a few days later prince harry and his wife, meghan, will make a high-profile appearance in new york reuters says the british press wi

i'm bertha coombs. united airlines pilots have overwhelmingly rejected a tentative contract deal.nion says the agreement which included raises nearly 17%, quote, fell short just yesterday delta pilots voted to authorize a strike in their airline and the union cannot come to an agreement. >>> in brazil roadblockages have continued to spread. supporters of president bolsanaro are protesting his defeat in sunday's vote but hundreds of locations across the country. bolsanaro has still not conceded the election, but a brazilian official says the brazilian president will speak today and will not contest his loss. >>> taylor stwift has announced a concert tour next year it will start on march 18th in glendale, arizona. the news comes as swift sets yet another new record with her new album taking over the top ten spots on billboard's hot 100 list it's the first time any heartest has done that. the title song of her new album, "midnight" is number one and she ties bruce spring. >>> the earnings come as the trillion dollar private credit industry may be showing some signs of stress. our les

i'm bertha coombs. here's your cnbc news update this hour.e counting continues in the key arizona senate race. you can see poll workers in maricopa county, the state's largest county, continuing to tabulate the votes a batch of votes was released late last night and an estimated 400,000 ballots remain outstanding in the county. mark kelly, the democratic candidate for senate says he's confident in his chances and that he is grateful for the around the clock work to count those remaining ballots. ukrainian forces are moving into the area surrounding the kherson after russian troops retreated from the southern city troops are cautious officials could resume a bombing campaign of the city, and it is unclear just how much of the prewar civilian population remains in that city. >>> and twitter is updating its rules around paid verification after a number of accounts began impersonating celebrities. twitter said any accounts created after yesterday won't be able to subscribe for verification some have criticized the new ulbefication system and say

let's get an update with bertha coombs >> zoetis shares cratering 15% the pet health company posted weakce cited supply chain issues 4x headwinds and shortage of veterinary workers under armour shares are popping 15%. profits and sales topped estimates. they also gave strong full year guidance despite expectations of more discounting to clear inventory. tune in to "closing bell" at 3:00 p.m. eastern for an interview with under armour's interim ceo, and also founder, kevin plank. >> and carmaker stulants is urging owners of more than a quarter million older vehicles to stop driving them after toccata airbags exploeted, killing three more people. cars include certain dodge and chrysler models from 2005 through 2010 all had been recalled back in 2015 fatalities bring the death toll from exploding airbags to at least 32 worldwide best to get that checked jon. >> yes, bertha, thanks >> fed chair powell signaling no pivot or rate cut is coming anytime soon, even after the fed's fourth 75 basis point hike yesterday. so are there key tech names at risk here? domchu takes a look. >> we're looking

we will take a quick break actually, let's get the headlines now from bertha coombs >> scott, here's what's happening at this hour president biden will give a speech tonight on threats to democracy. the address is scheduled for 7:00 p.m. eastern time and comes less than a week before the mid-term elections the white house is accusing north korea of secretly shipping large amounts of artillery shells to russia a biden administration spokesperson says the ammunition is being routed through the middle east and north africa to hide its ultimate destination. >>> kansas university has suspended basketball coach bill self and his top assistant curtis townsend for four games in the latest investigation into basketball corruption and recruiting violations. and the washington commanders may soon be up for sale. owners dan and tonia snider say they've hired bank of america to, quote, consider potential transactions the snider's ownership of the team has come under increased criticism after an investigation found a toxic workplace and prompted a $10 million fine. forbes estimates the commanders

i'm sure you'll see more let's get a cnbc news update with bertha coombs >> here's what's happening att 75% of ransomware attacks reported to the treasury department late last year were connected to russian actors. for all of 2021, reported hacks cost nearly $1.2 billion nearly triple the previous year. the treasury dp says that it was also the target of an attack by a russian hacker group last month, but it caused little disruption spacex has launched its most powerful rocket for the first time in three years. foggy conditions couldn't stop the falcon heavy from blasting off from cape canaveral. this was the falcon heavy's fourth flight. it carried a number of satellites, including two classified payloads for the u.s. space force. >> and an extremely rare first edition copy of the u.s. constitution is hitting the auction block next month just 13 are known to have survived only 2 are in private hands, including this one sotheby's estimates that it could fetch up to $30 million. >>> on the news, encouraging sign of progress towards protecting newborn babies against rsv. that's tonight a

our "cnbc news update" with bertha coombs. >> washington, d.c., is suing the washington commanders footballthe nfl. the city's attorney general announcing moments ago civil protection lawsuit alleges that d.c. consumers had their rights violated when the team's longtime owner, dan snyder, lied about his knowledge of workplace misconduct and sexual harassment there are a number of ongoing investigations into the team, and snyder took steps last week that indicate he could be looking to sell the franchise. >>> supreme court justice sonia sotomayor has rejected another challenge to new york city's vaccine mandate. a group representing city firefighters, teachers, police officers and others argue that the mandate violates religious protections. sotomayor has had previous challenges to the mandate in the last year. >>> a new report issued at the international climate summit in egypt saying the energy prices resulting from russia's invasion of ukraine is threatening climate goals. the report warns increased natural gas production and the resulting carbon dioxide release will make it nearly imposs

now let's step out of the markets get a cnbc news update with bertha coombs >> always love those rbis. here's what's happening at this hour, the national weather service is warning of what it calls a major, severe weather, and thunderstorm event it's expected today in the southeastern u.s. and they say it could generate very dangerous tornadoes. the risk is highest in central mississippi. >>> new york city mayor eric adams has a new strategy to remove and treat people with severe mental illness on the city streets and voluntary hospitalizations adams says he wants to end the practice of only forces violent people to receive treatment in a hospital >>> and the u.s. coast guard has released close-up video of the first mauna loa eruption in 38 years. officials in hawaii say the lava does not pose a threat to communities near the volcano, but boy, that is spectacular video, isn't it, brian >> first since 1984, is what you said i believe, bertha >> or as some people like to say, 11900-and-84. >> that's great. bertha, thank you very much. >>> president biden calling on congress to act now.

. >>> bertha coombs is at the table. >> good morning. just getting headline numbers right now.s adjusted earnings of $2.09 per share, ten cents better than the analyst. $81.2 billion. analysts had been look upwards of 4%. raised to between 855 and 865 a share. the analysts' estimate is for 855. we've seen a number of companies benefit over the quarter particularly from the insurance side from normal utilization you haven't seen that huge bounceback even as a lot of these have also lost that tailwind of the big -- tailwind from covid vaccinations. again, on that settlement, cvs agreeing to pay about $5 billion over the next ten yeaears to settle outstanding state, local, and tribal litigation. bloomberg reporting it's part of a tent active $12 billion settlement that includes walgreens and walmart. neath over them has confirmed that report. last august a federal judge ordered the three. they were the largest pharmacies in the country to pay $650 million in damages in a suit brought by two ohio counties the major drug distributors reached a similar sentiment last winter that will

. >>> now for an cnbc news update with bertha coombs. >>> nato secretary-general stoltenberg warns russiaa weapon of war against ukraine and that, quote, we must prevent president putin from winning he also expressed his belief that the country will become a member one day, saying nato's door is open >>> virginia congressman donald mceischen died last night. he had struggling with health issues after a cancer battle in recent years the democrat had been serving in the u.s. how the of representatives since 2017 and just re-elected for a fourth term this month. mceachin's seat will be filled by a special election. >>> a boil water order has been lifted in houston with the city saying the water is now safe to consumer and use officials had been urging residents to boil any water for drinking, cooking and bathing after a power outage impacted a water purification plant the situation impacted 2 million people and also closed some schools as well as restaurants yet. carl >> bertha, thanks. >>> after the break with the recent decline in oil prices, will opec plus move to limit supply with crude

i'm bertha coombs. in the last hour the supreme court justice john roberts temporarily blocked the release of former president trump's tax records to congressional committee. the high court will now take up the case later this month. >>> in chicago at least 13 people were shot in a drive-by shooting on halloween. the injured included a 3-year-old and two other children >>> in south korea, officials are admitting responsibility for not doing enough to prevent the tragic halloween crowd surge there. the mayor of seoul gave a tearful apology as the death toll has now risen to 156 people the national police chief said he felt a heavy responsibility given adequate responsibility to the emergency. >>> israelis are voting in their fifth parliamentary election since 2019 polls predict another stalemate with no coalition gaining a decisive majority. key issue, former leader benjamin netanyahu's fitness to serve as he stands trial on corruption charges early tally shows voters have not tired of going to the polls

i'm bertha coombs. alert after north korea fired 23 missiles into the sea near the country's sea border south korea sounded air raid sirens and responded by launching its own missiles into the same border area it comes hours after north korea threatened to make nuclear weapons and south korea, quote, pay the most horrible price in history in protest of those nation's on going military drills. >>> former kansas city chief assistant coach brit reid was sentenced to three years in prison for a 2021 drunk driving crash that seriously injured the young girl the 37-year-old reid is the son of current chief's head coach andy reid. britt pleaded guilty in september. >>> former israeli prime minister benjamin netanyahu appears to be heading towards victory with 85% of the ballots counted in the national election israel is potentially heading for a far right wing government, further diminishing hopes for peace. >> bertha, thank you stocks are down a bit over what may assume will be the fourth 75 basis point hike

let's get a news update with bertha coombs. >> your cnbc news update, michael flynn has been order toe georgia probe into election infeerns by donald trump interference by donald trump and his allies the investigation led by the fulton county district attorney continues to hang over the former president, who announced his third run for the white house last night >>> actor kevin spacey is facing seven sexual offense allegations in the united kingdom. british authorities say the charges relate to a number of alleged offenses to have taken place between 2001 and 2004. spacey has plead not guilty. >>> intelligence officials say that russia's spy capabilities have been limited since their invasion of ukraine. the director general of mi-5 said at least 400 russian spies have been expelled across europe, including nearly two dozen in the uk. >>> and morgan, back to you. i have to tell you, lunar, that word is going to ring in my ears all day. i love it. >> it is a funky orbit thank you. >>> speaking of russia, an update on a geopolitical event that we continue to monitor, prelimina prelimina