contessa, thanks that's contessa brewer moving on uber shares taking off on new the company expects tota, of the profitable by q 4 this year we have a sbrof tomorrow with the ceo on squawk box on 7:00 a.m. eastern time lets talk about uber with the man who wrote the book on the company. mike isaac is "the new york times" technology reporter and the more of superpumped, the battle for uber. mike, good to have you on. >> thanks for having me, man. >> what's your reaction to not only the quarter but more importantly the remarks from dhar an on the call about being profitable a year earlier than expected. >> i was waiting for another quarter of bloodbaths and laying out how much money they are burning. but the quote really struck me at the top of the call and the remarks which is the era of growth at all costs is over. and i think you just wouldn't have heard that from unicorn companies and especially newly public companies just a year ago. but uber is really trying to prove this is what we are doing, trying to cut costs in many ways and the street is not willing to put up with insane grow

hello, tyler >> hi, contessa. welcome. bob pisani is at the new york stock exchange with more on the record break iing action hi, bob b. >> hello, friend new highs op the s&p 500, but wee now we're near the lows of the day. a little blimp right here. had nothing to do with mr. powell's testimony we had comments from the cdc, boeing as well boeing lost about $5 in half an hour there jet liner orders, none u in january. maybe that wasn't a big surprise, but boeing is in negative territory although they are flat now in terms of earning, europe had a great close here the stock 600, the s&p 500 of europe, historic high there. that's now outperforming the s&p 500 this year. earnings today, we talked a lot b about under armour, they talk b about losing perhaps 1% of revenues to coronavirus. that's dropping that but good year tires had something similar. they said they're being dramatically effected by coronavirus as well. remember both these companies have other issues in addition to what's going on with coronavirus. maybe we'll

contessa brewer it live in chinatown with the travel impact, josh lipton is looking at how the supply chain is hitting tech companies, and joining us from quarantine is dr. charles lipman what do we know, meg >> the numbers have topped 40,000 confirmed cases the death count is up to 910 over the weekend that passed the number of deaths from the sars outbreak the world health organization holding a daily press briefing noting that 99% of the cases are still in china and for the most part, most of the cases are mild about 20%, they say, are severe. they did point out something, they said in recent days they've seen concerning numbers in terms of pockets of human to human transmission in france and in the uk they said there wasn't travel history to china the director general of the world health organization says the detection of these small number of cases could be the spark that becomes the bigger fire for now he said it's only a spark. he said efforts need to be directed at containment. >> the w.h.o. had come under criticism for how they handled and labeled past epidemics or pandemics.

contessa bureauer with the details. >> the ceo is out.rman of the board of mgm resorts and today we just got a release saying that he will no longer serve in the company, though he will stay in the role until a successor is found. this of course follows a period where you had investors come onto the board they instituted some real cost reforms, some ambitious plans to remove costs, and to return shareholder value. and in fact, we are also getting news that they're embarking on a new plan to do a big buyback program. his future had come under some scrutiny because of performance. there were analysts who told me privately that they thought that his tenure really would rely on getting a license for an integrated resort in japan the performance in las vegas in the fourth quarter was under some scrutiny. and there has been some question about how long he would remain in this role though i will say at this point it's coming at a time that's fraught with a lot of problems for mgm, because of course the casino has been closed in china due to coro

we'll get more on that with contessa in a bet. but lets turn to cisco system down after reporting earnings. lets get the numbers and the reason why the stock is off 3% with josh lipton josh. >> so brian, i checked with alex henderson at needham covering the name i wanted his take on the print his point was given weak conditions in europe, exposure to apac. he thought it was potentially going to be a lot worse. in his opinion here the guidance was fine, the securities segment looked good. did call out q2 product orders that could explain the weakness in the after hours a decent print how he puts it. ceo chuck robins on the call right now talking to analysts. he did call out the secular growth drivers he think will continue to benefit cisco in the kwurs ahead, meaning 5g, the move to the cloud. he did say though talking about his commerce, the trends and themes in the quarter that we are seeing some pausing from customers. they are still planning on moving forward, he tells analysts but just a bit more cautious right now given the m

from the contessa side -- from side, it looks very worked out.ready looking at potential antitrust issues, so they have examined this and set this up completely before they spring the offer. moving ands like the the timing of the move because it is clear whoever buys or wants the european banking sector to be consolidated, and we were the first to move, and the transaction can create value for shareholders. ♪ >> al brands -- -- elle brands, the chair stepping down, victoria's secret going into private hands. >> now that victoria's secret will be private, challenges they face in production and sales can be handled without scrutiny of the public market. that was one of the big strategies in taking this private. brands isft of elle the bath and body works in the skin and candle and lotion line. and that brings the question of how valuable that company alone is. >> the u.s. is sanctioning a unit of the largest russian oil producer rosneft over its ties to venezuela. is based in switzerland and targets the chairman of the particular unit. array ofhere

this valentines day, february 14, 2020 and "worldwide exchange" begins right now zb morning i'm contessa brewer in for brian sullivan we begin with breaking news on european union gdp figures joumanna bercetche is with us. >> we just got the eurozone gdp numbers coming in at 0.1% rise for the quarter that equates to a 0.9% jump for the year so still above that 0% flat line detail on individual countries a lot of focus on german gdp coming in at 0%, so essentially stag nating but no recession year on year translated to 0.4% for germany. france grew at 0.9%, the uk at 1.1%, the u.s. 2.3%. so still very weak compared to other g10 nations. we are not seeing a huge reaction in markets. we are still ending the week on a positive tone. it has been a good couple of days the eurozone stoxx 600 going from record close to fresh record close in determine any, up 0.2%, in line with the forecast gdp that's it for our eurozone gdp summup >>> here is how stock futures are setting up after yesterday's more than 128-point loss for the dow. s&p futures are up 8 points, the dow up in the positive and nasdaq

thank you, contessa. good to see you too or see you through the camera anyway. we're having a great conference here we have a lot of people attending, you know, very good attendance in spite of the public health crisis we're feeling good about that here at the goldman sachs technology conference. in term of the price target we realized last year our $192 target was out of alignment from where the stock had traded and moved it up to reflect just of where the stock is trading today and the valuation it's trading at one thing i'll say is we usually as analysts express our view through our rating, neutral, buy, sell ratings. we're neutral on apple right now and have been through this period and that ratie ing tendso track what we think of the fundamentals of the company. will it be worse or better than consensus expects them to be we expect those fundamentals to remain close to where consensus thought they would come out. we don't want to argue too much with the stock market about valuation of the company because that's the stock market's job, you know the stock mar

it is rapid fire dom chu, contessa brewer, and steve kovak, welcome, sir. beat on revenue, had the first billion dollar quarter matter of fact number of users and shares are up more than 17% right now the biggest jump it's had in a couple of years. there's your check, 17.5%. big one, steve. >> this is all about the monetized daily active users, when you boot up twitter, you actually see the ads they struggled with this the previous quarter and sort of switched it on for more people i'm one of those heavy twitter power users. >> yes, you are. i'm enjoying following you, by the way. if you don't follow steve, your parents' home decor. so many enjoyable topics one of the first times they gave a report of that metric. >> third time reporting that metric. >> is that okay? obviously it's okay with the s.e.c. why do they get to choose when they deploy this metric and they don't? >> that's a good question. it's not like facebook or snap chat reports it's very different. >> why does that matter? if apple says we don't want to report how many iphone sales we're havin

cnbc special report begins now. >>> i'm contessa brewer.ays after the world health organization was first alerted to this growing crisis the world health organization said it's spreading quickly. >>> how big is the iceberg >> health officials across the world scramble to catch up with the speed of a fast-moving killer virus tonight, new questions about how china is counting the sick th

now to contessa brewer for a look at the insurers >> kelly, no big surprise.nsurers are down across the board. i want to focus on the peopleo the insurers rather that have exposure for instance, american international group, which has exposure internationally you're seeing those shares off almost 6%. prudential financial, met life down big they're underperforming the insurance group and why? we'll talk b about business disruption you just heard about the supply chain disruptions and whether those are happening. expect those companies to be alying pplying to their insurer, making claims for business disruption and there may be lawsuits here as insurers try to claim they're not responsible because of a viral outbreak. >> thank you, contessa now today's losses are testing key levels for the averages. here to drill down, katy, take us home. we've heard a lot this hour about the fundamentals, about the disease characteristics, about different parts of the world and the supply chain you look at simply the charts and what are they telling you about this market? >> we

i'm jim i'm contessa brewer.t has been 43 days since the world health organization was first alerted to what has morphed into a global crisis the coronavirus has a new name covid-19 they believe it came from a bat before jumping to a mystery host and infecting humans the search is on for the missing link >> this is a common enemy. >> the virus spreads and so does fear. >> taking our foot off the accelerator now could be a fatal

contessa brewer, let's get to sue herera now for a cnbc update >> hi, kelly hi, everybody. the cruise ship and more than 6,000 passengers and crew getting permission to dock in mexico, after the ship was denied entry at two caribbean po ports over fears, later disproven, that a crew member was infected with the coronavirus. >>> a woman who recovered from the coronavirus has tested positive as a second time. she acted as a tourist guide in wuhan before testing positive the first time she sought treatment a second time after sore throat and chest pains returned. >>> lori loughlin and fashion designer husband mossimo giannulli will be going to trial date february date october 5th the trial date was set a day after their lawyers claimed new evidence would exonerate the couple cdc basing obesity study findings that's the news update this h r hour back to you. >> my next guest says the next two trading days are what he calls gifts. why and where he sees the best opportunities. he means gifts with a "t," not people freaking out. >>> light bulbs are one item customers should prepar

con ten s contessa has the story. >> reporter: fewer than a dozen u.s. airports xepi iaccepting f from china or passengers coming in at this point the united states is no longer allowing foreigner whose have been to china within the last four weeks and closely screens, quarantining u.s. and permanent rents who have been there. it's up to the airlines to decide who should get on this flight we learned at jfk, the questions are not always asked, rules inconsistently applied three u.s. airlines, american, delta an delta suspended services delta until end of april. >> contessa, thanks for that charlie, where do you stand on the airlines stocks? they've fallen a lot is that fair >> especially yuunited. >> biggest exposure to asia? >> we don't like it. never invested because it's highly capital invested. airlines cut full, cut fares to get them full and something goes wrong like higher oil prices or a scare like this and profits drop off this is an industry we've never liked. warren buffett said best thing happened for investors, orville write shot off the sky

contessa brewer has the details for us. >> only down 14% in one month.e shipped waiting on results of coronavirus tests administered to four at the passengers they readily been this china and so had 23 other passengers those passengers were screened and sent to newark airport to fly back to china. eight americans are among the now 61 confirmed cases of a coronavirus on, as is holland airlines f. carnival's stock is -- norwegian has dropped 7%. almost 4% today alone, this is a segment that's getting slammed with coronavirus concerns. >>> also the perception they're getting, what do you do with those stocks >> i don't think you touch them. it's not something that's making people run out and get on the next stef boat leaving at some point it's going to be cheap enough -- >> it had been pretty cheap, but it's tough to know. >> i'm not going to challenge what apple has said but when there's 31,000 cases, the spread has not slowed down. you want to be disciplined about this stuff it's a cheap stock, trading about ten times. if earnings come back, and it's a 10

sara >> thank you, contessa >> that's exactly the category i was talking about. it's not as if we just woke up, everybody was at a high three days ago and we have given it back the question is how much of a market has already been curb we can't know that xecht in retrospect. >> i agree the market is discounting a lot, but how much and how much lower? i think somewhere in here, when you have the "i had a theory" respond from the cdc today, that tells me we're near the bottom that's my gut feel. >> the yields still far outdoes in -- but the pullback we have seen, the s&p is, what, 7.5, 8%? that's not a huge pullback. >> not at all. it's fairly routine if it stops there. that's why i think yields probably need to stop making new lows, so then you can reassess. >> and barb, the cdc headline, that really seemed to get the market selling off hard. they said that americans should be preparing that news conference you just had at 3:00 p.m. eastern with hhs secretary azar and a number of other officials responding to a lot of questions from reporters about the cdc warning

. ♪ >> contessa sao paulo has 4.9ched an unsolicited , one of the bid biggest deals since the financialm by surprise. people familiar had no idea this was happening. only yesterday they released their three-year strategic plan. that shows how much they weren't aware of it. from the intesa side, it looks very worked out. they worked outside deals with their insurance partner. they are already looking at what the potential antitrust issues will be. so they have examined this and set this up completely before they sprang the offer. >> investors like the moving and the timing of the move because it is clear whoever buys or wants the european banking sector to be consolidated, and we were the first to move, and the transaction can create value for shareholders. ♪ elle brands, the chair stepping down. now goingbe different into private hands? >> now that victoria's secret will be private, challenges they face in production and sales can be handled without scrutiny of the public markets. that was one of the big strategies in taking this private. what is left of elle brands is the bath and body

. >> contessa, thank you book ended with sports references >>> still to come here on "closing bell," today's closer is afl-cio richard trumka. we'll get his take on the pro union bill on capitol hill as we speak. >>> treasury yields, a little change today as investors await tomorrow's big jobs report we did have good numbers on jobless claims and private sector adp only the two-year note yield is higher right now we'll be right back. ( ♪ ) ♪ the sun is risin' ♪ ♪ as the day begins ♪ time for reflectin' on family and friends ♪ ♪ and hey, we got somethin' ♪ ♪ just for you (sniffing) ♪ it's a cup of your favori-i-i-ite... ♪ (loud splashing) (high-pitched laughter) dang woodchucks! with geico, the savings keep on going. just like this sequel. 15 minutes could save you 15% or more on car insurance. our retirement plan with voya gives us confidence. we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. i'm good at my condo well planned, well invested, well protected. voya. be confident to and through retirement. ♪ yes

. >> moving to qualcomm, the stock in the red after hours and contessa brewer following us. >> 5g has been the driver behind development and investment on the call there is intense focus on the buildup of 5g internet and anticipated demand. analysts want to know are the high expectations realistic? but of course coronavirus is dominating the conversation. and the cfo says there is significant uncertainty around what the outbreak does to the supply chain and what it does for demand forehead sets they are spending a lot of time on this. ceo steve moline cough said they have considered the impact of coronavirus in the forward guidance the range has been widened and lowered. the mid-age just below analysts expectations seeing 80 to 95 cents a share versus estimates of 86 cents a share. all of this is based on limited information because no one can say how long the threat lingers, what it could do to demand as you can see the stock now off in extended traded by 3.75, 3.85%. >> lets trade qualcomm, always the forward guidance gets. >> you went north of 90 recently and pretty much a straight

the short sellers >> all right thank you and that does it for the exchange i'll head over and join contessan "power lunch" which begins right now. >> here's what's new at 2:00 on "power lunch." the powell playbook. stocks hitting record highs before retreating as jerome powell lays out the biggest risks to the market and the economy. we'll tell you what he said that has all of wall street talking plus facebook takes a hit as one analyst is warning about a potential ad pock lips that could hurt the stock and later, the epic tesla rally taking a breather today and a top technician says look out

because contessa has you know u, going to be 30 billion in revenue this year.mes, five times that's not crazy just barely profitable hasn't been on a full year basis and you just don't know how much you could extrapolate that sales growth plus it's really capital intensive. it doesn't have software economicses at this so i don't know you can make the case now if umt to make the case it's get ing there, fine. nothing explains these gaps on a daily basis and $50 billion in tesla shares turning over today. which is just off the charts >> which is crazier to buy it at this level or short it at this level? >> i mean it might be equally crazy just because of these huge kind of function moves it's making but it does seem as if you have to have many mechanical explanations for why it's moving this way beyond just well everyone now buys into the long-term story. didn't happen in five days >> that was a dlefrry worded section. >> i knew he wasn't going to >> he danced around it beautifully. shares of ebay surging after the new york stock exchange's parent company approac

our contessa brewer in queens, thanks >>> let's get to a sector suit back at hq today hey, dom >> so,with stocks now moving to the upside. they are starting the week off and the month in positive territory. most sectors in the green you can see here led by communication services also consumer discretionary with the dow again over 300 points to the upside among the big names now moving the discretionary sector higher you have alta beauty moving higher after an upgrade at goldman sachs. we also have macy's, las vegas sands, and ford as well. then take a look at shares of nike the best performer in the s&p this morning following a u bs upgrade. jpmorgan analysts also added that company to its focus list saying it sees the recent pullback in nike as a multi-year buying opportunity nike up 4.5% now, david, back downtown to you guys at the new york stock exchange >> thank you, dom. dom chu. >>> after the break markets as you see are rallying, this in the first trading day of the month. but how worried should wall street be about the coronavirus? and of course the overall fears of the slowdo