carl >> julia, appreciate that. we'll be watching that and a few other media earnings dpurg the week. >>> coming up after the break, apollo is getting into crypto. bitcoin trading roughly in line with the nasdaq for october. stay with us millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... save hundreds a year on your wireless bill over t-mobile, verizon and at&t. just take the xfinity mobile savings challenge today to see how much you can save. ♪ >>> apollo is diving deeper into crypto partnering with anchorage digital to store alternative assets for its clients apollo participating in defunding round valuing the platform after more than $3 billion. joining us now president diego thank you for being on with us this

. >>> good thursday morning, i'm carl quintanilla with julia boorstin today, another volatile week for nasdaq and microsoft, google and meta plunging after results this morning. mark zuckerberg bets billions. investors won't if it will continue with amazon and apple julia, talking a bit about the operating expense guide and the silver line something argue with that is that engagement continues to be somewhat robust. >> yeah. i mean, first the good news before we get to the bad and ugly, yes, engagement is robust. mark zuckerberg said he thinks they're making gains with tiktok a big surprise to many and for reels, he says they're making progress there. but the battle recently is not only are they losing a lot of money on the metaverse division but expect to lose more on the reality labs next year they're not backing off. it's time to focus on the fundamentals which is the ad business and spend much less on the metaverse division but mark zuckerberg is sticking to his commitment to invest in metaverse company, talking about making it less reliable on apple. john, i guess you must feel vi

. ™ >>> welcome back meta shares continue to be the story of the morning julia has more >> carl, mark the company said it will lose even more money next year on its metaverse bets, warning its reality labs operating losses in 2023 will grow significantly year over year the company announcing full year 2023 total expenses will be in the range of $96 billion to $101 billion. and that's all despite keeping head count flat through the end of next year mark zuckerberg defending his strategy to make these long-term bets amid shrinking ad revenue saying, quote, those who are patience and invest with us will end up being rewarded. multiple analysts are downgrading the stock today to equal weight, largely concerned about growing costs. morgan stanley downgrading from overweight to equal weight saying, we think meta's forward capex guidance are thesis changing and likely to weigh in on the same period needham saying, deafening silences about meta's historical ad business was our number one takeaway and though mark zuckerberg was bullish on the opportunity to make money from reels, saying they m

so we talk about julia today. we've got carl now forming. you can see it kind of swirling around here. just a mass of clouds and thunderstorms right now. no center i to be reported just yet. so not a hurricane strength, but a tropical system. tropical storm sustained winds of 40 miles an hour watching turn and make still a hard left turn back toward mexico just north of veracruz, possibility of making landfall by friday as a tropical storm and really more important with this storm system is the amount of rain that's going to drop. we're going to talk about some flash flooding, some flooding in that area of mexico. so, yeah, be prepared. we're not done with the tropical season at all out there right now. we do have those clouds that are bumping up against the east bay hills. already. you can see some sunshine beneath that. those are there kind of broken outside right now. it will start to fill in overnight tonight and push back on shore. you can see the level of the fog is changes yesterday. member of last couple days we've seen the cloud dec

third of analysts have a buy rating on the stock. 64% have a hold, and 3% have a sell carl >> quite a story, julia. >> if you want more on the quarter, you'll hear from bill ready tonight on "mad money" at 6:00 p.m. eastern time >> in the meantime, dow is up 575. let's get a news update with seema modi >> here's what's happening at this hour. house speaker nancy pelosi's hsz paul was violently assaulted by an intruding in their house in san francisco. nbc news reporting the weapon used in the assault was a hammer a spokesperson for the speaker says paul pelosi has been hospitalized and is expected to make a full recovery and that a suspect has been arrested speaker pelosi was not in san francisco at the time. >> on to some economic data, pending home sales shrinking sharply last menth as mortgage rates topped 7%. the drop was more than twice what analysts expected over the year, sales have sunk 31%. excluding a brief plunge at the beginning of the pandemic, it's been the slowest pace in 22 years. >> overseas, britain's royal mint has produced the first coin with king charles' image on them king ch

. >> good morning welcome to "techcheck," i'm carl quintanilla with jon fortt and julia boorstin shares of snap down 40%. dragging down shares in the space, meta, pinterest all lower. and "the washington post" reporting that musk could be planning to slash the workforce by close to 70% but the government reportedly taking a look at musk's investors we'll see what that means for the deal which is expected to close in a week. >> you never know. let's start with snap what it signals about the broader market snap's revenue grew just 6% year over year. net losses surged by 400%, probably because of the cuts they're making in response management saying they are finding our advertising partners across many industries are decreasing marketing budgets that is happening as demand falls and inflation remains high earlier this week, ibm and at&t said they're seeing strong demand, netflix echoed that message but the ad supported model -- next week we'll get an understanding of advertisers from the consumer when we hear from the enterprise side, microsoft, and the luxury consumer side, apple and meta

techcheck" starts now >>> happy wednesday welcome to "techcheck" i'm jon fortt with carl quintanilla, deirdre bosa and julia boorstin today stocks are mixed but is there hope for the bull's? netflix is surging as strong subsubscription numbers help there. and what it means for software and a look at one chip industry name bucking the trend as china curbs hit the rest of the sector asml pulls acpast the competitin this morning. >>> netflix is the top gainer on the nasdaq and s&p as shares surge on stronger than expected results and subscriber numbers julia boorstin with us here. >> it's great to be here. >> a lot of enthusiasm from reed hastings yesterday such a market departure from the last few quarters. >> you hear a shift after they lost so many subscribers. >> amazing how quickly they've built and are getting ready to launch the ad model but is it too soon to call victory >> too soon to call victory on the ad model here. they grew in subscriber growth so netflix added more subscribers than expected, 2 2.4 million in q3. and forecasts the addition of 4.5 million 4.5 million subscribers in q4. the co-ceo

carl >> not a good metric julia, thank you let's trade it dan, what do you think >> i'm long it i've been long calls i think there is a two down five or six up scenario we have the have two down or three down it is massive. when you think about all of the news that we've had from august with the job cuts and restructuring that we saw in september, the market liked that in september, right. so the stock had rallied and come back here karen, you said on the desk the other night, this has not gotten out of its own way in a long time i'm buying more. i bought some on the plunge below $10 on the last really big disappointment here. and i just think that, again, if elon buyed twitter, a company that will do $5 billion in revenue with a margin about 60% of much lower arpu than facebook, then this thing is way too cheap. even though they're in the throes of a massive downturn so to me i think it is interesting, if you're new to the story. but it is a tough one here because it is a hat size now. >> is it big enough to be a tail that is what i'm hearing st is it systemic. >> i think directiona

the next will be julia and carl.'s drew: i'm abc7news meteorologist drew tuma with your accuweather forecast. warm with sunshine today, 70's and 80's along the bay shoreline, 90's away from the coast. looking at closer to home. >>> coming up, we are celebrating the "gma" book club. can you believe this? third anniversary. classifies your favorite book? prop 27 sends 90% of profits from online sports betting to out-of-state corporations in places like new york and boston. no wonder it's so popular... out there. yeah! i can't believe those idiots are going to fall for this. 90%! hey mark, did you know california is sending us all their money? suckers. -those idiots! [ laughter ] imagine that, a whole state made up of suckers. vote no on 27. it's a terrible deal for california. we win. you lose. >>> you see all those books up there because we are celebrating three years of the gma book club. >> could not do it without the incredible authors that bring us stories to see the world in a whole different way. the viewers and

i'm carl quintanilla with jon fortt, deirdre bosa and julia boorstin the nasdaq try ting to make it three positive sessions on the way. paypal there, and more on what's driving today's market action in a moment a news update first with contessa brewer. >> what's happening now. u.p.s. delivered strong quarterly profits thanks to higher prices. profit margins expanded even with sales missed and package volume fell and guidance for rest of the year and on track for a worst day in nearly two decades for xerox q2 earnings less than half on the consensus. supply contain constraints among the reasons. weber shares soar. the stock trading above offer price, still less than half of weber's ipo price from a little more than a year ago and adidas is parting ways with kanye west, now known as ye. adidas says his recent comments were dangerous and anti-semitism or hate speech isn't tolerated dropping the ye line will drop profit by about $250 million >> taking time, did it contessa. thank you. >>> mesa releasing the quest pro headset this morning a day after rad gersner wrote a letter to the company u

. >>> welcome back to "techcheck" i'm carl quintanilla with jon fortt, deirdre bosa and julia boorstinack to 5880, for the first time in days. first a news update with bertha coombs >> here's what's happening at this hour. norfolk southern stock is up more than 3% after the railroad operator posted record quarterly profits. the company citing higher prices and fuel charges that also helped revenues beat estimates wing stop is 15% on a big profit beat and sales growth. margins helped by a sharp drop in the cost of bone in chicken wings. >>> traders are liking bed, bath and beyond decisions with the new ceo. shares fell as much as 10% after the move was announced, but the stock is up 5% gove served as interim ceo since june new home sales fell 11% last month. the declines were concentrated in the south where sales sank more than 20%. the median price for a new home is now just over $470,000. that's up 14% over the last year but with 7% mortgages tough to buy a home right now, carl. >> bertha, thank you for that. >>> turning to snap. evan spiegel joined our next guest at the tech live con

techcheck" starts now >>> happy wednesday welcome to "techcheck" i'm jon fortt with carl quintanilla, deirdre bosa and juliaks are mixed but is there hope for the bull's? netflix is surging as strong subsubscription numbers help there. and what it means for software and a look at one chip industry name bucking the trend as china curbs hit the rest of the sector asml pulls acpast the competitin this morning. >>> netflix is the top gainer on the nasdaq and s&p as shares surge on stronger than expected results an

. >> good morning welcome to "techcheck," i'm carl quintanilla with jon fortt and julia boorstin sharespinterest all lower. and "the washington post" reporting that musk could be planning to slash the workforce by close to 70% but the government reportedly taking a look at musk's investors