"nightly business report," deedra bosa, san francisco.>dw matthew l joins us to talk more about what this could mean for workers and t overall economy. he is a professor of economics pennsylvania's wharton school of business. matt, welcome, nice to have you >> hi, how are you? >> i'm agreed great, thank you medium term, short and medium-term. mpt, net whatt do you think it has on the overall economy? >> i mean, on the overall economy i would have thought tiny. although we see more gig workers than we used to. they're still a small fraction of the economy. and the t proportiot will be aircrafted which in small are. it's going to be very disruptive for small numbers of people. if you are aircrafteds in a big. de but overall economy it's not going to have a massive effect. >> for the san francisco economy which is sizable do we know the we don't. as the report mentioned there is a sensehat the b companies that use the contractors potentiallyee major new costs. you know, assuming that they do reclassify them as employees, i understand thatber

more "nightly business report," deedra bosa, san francisco. >>> campbells rorpts soupy spaems.hat's where we begin the market focus. fewer nameup sold sake products in the recent quarter but the company did see crease in the share of the soup market. for the first time in 10 quarters. and its earnings came in better than expected. enough to left t stock rose about 2% to 48.47 hitting a 5152-week high during the >>> expedia is replacing the ceo and cfo following a stratsay eement with the board of directors. earlier this year expedia sought to unite bronzed including or bits, hotels.com and v the rbo but the chairman of the board said it led t disappointing results. shares were up. >>> constellation brands sold the ballast point craft bear unit to a iinois brewery for an undisclosed amount. buyingallast point in 2015 for a record $1.0 billion. the deal is believed to be below that amount as the market for craft beer slowed. shares off a fraction t 184.29. >> g 3 apparel group missesa s estimates the third quarter and lowered guidance as a result. company which os brands like don

back to you. >> deedra bosa in san francisco. thank you very much. so, steve grasso, you've been a bit negative on amazon. >> whenever he tells you as deedra started the section off as bezos told you it was an investment year. you run for the hills when it's that granted 18%, great return for any other year looking at aws that's the growth engine, accounts for 56% of the operating income that's where you want the growth, the invest in everything else that's declining from 56% down to 35% now, microsoft's cloud business is declining as well but with amazon there is no guarantee that all this investment is paying off wal-mart -- wrrmt has been knocking the cover off the ball. and amazon if aws doesn't grow or declines, dekrerlts the stock is going down. >> what at what point does valuation matter for amazesen. it didn't for a long time. >> it never ha has. >> that's why i ask the question brian if you think about the last six months and underperforming the s&p by 17% since july you have a case whereas with we have seen other folks are certainly developi

deedra bosa looks at what's next forne of 2019's most talked about companies. >> amazon has beennef therforming stocks of the last decade. but it could end the strea on a more lackluster note. this year amazon is t on track underperform the benchmark s&p 500. for theirst time since 2014. back then, the company was under pressure for iack of profit and falling operating margin. this time around wall street is more gofrgi ofhe investment year. shares have returned nearly 20% so far.re and many predictin theor ground wk has been laid for a bigger breakout next year. >> because it's i anestment year for amazon. and the stock never outperforms when the re in investmenyear. but it does tend to outperform the year after in investment t' year because t when you see the benefits. >> except this time could be different. amazon is facing new risks and the crack are showing as it heads to 2020. including declining dominance in e-commerce and cloud, rising competition, anti-trust concerns and an uncertain regulatoryn environmentn election year. there is also growing concerns out the safety a quality

we told you about the rh comments on wework we have wework news in it's pef deedra bosa has it for usecord 52 new buildings? cities across the world. with plans to open more by year end. if it sounds strange it reflects buildings and leases already in the pipeline when adam neumann with in the ceo. the strategy going forward as we report add few weeks ago including reducing cost and slower growth which you are likely to see over the next year or so. wework saying it signed on more than 280 new enterprise companies in the past 90 days. it doesn't name any however. >> deedra, bosa thank you. >>> a big day tomorrow, the opec mattheiu tomorrow. and aramco setting the final ipo price. tiffany results kate rogers standing by with that. but a big movement for biogen releasing key alzheimer drug data. >> biogen shocked investors and the research community at the end of the october when it said the thought to be failed alzheimer drug was not failed after. it they say it appeared to work to slow declines with alzheimer's. tomorrow is the first presentation of further analysis as a alzheimer's c

deedra bosa has the story from the west for us deedra. >> tyler, c suite changes at the platform shares falling in the after hours extended trade drop box chief customer officer stepping down effective january 3rd, receiving a transition payment of $500,000. and coming a few months after the company cto quinton clark announced his departure. but drop box is struggling to free use tors paid users at the pace investors would be would like to see and the gap losses are worsening and revenue growth deaccelerated over the last year or so. the company now trading at $15.17 it ipos in 2018 at $21. >> thank you, deedra reporting on drop box. >> is there a trade. >> dbx, the august 21st low i think if memory serves watch in was $17.20, exactly where we are now traded down there on huge volume what's the point the point if this l tomorrow min interesting trade. i'm saying this. i can't believe i'm about to say it it's expensive it's not ridiculously expensive. and this might be a decent trading opportunity tomorrow if it can somehow hold effectively $17. >> any other thoughts on drop box sfl let'

spot amid the sea of red tesla named must own by piperafter can the shares break out to new highs deedra bosa has details on alphabet. >> larry page stepping down as alphabet ceo sundar pichai ceo both of google and alphabet in terms of day to day unlikely to see major changes which is why you may missouri not see a lot of change in the alphabet stock. under google umbrella pichai ran advertising cloud devices, software he has been ceo since august of 2015 since then alphabet stock has soared relative broad are market but underperformed wig tap peerings remember the split from alphabet to google. alphabet was the place where the moon shot including way missouri, self-driefgt stores internet balloons and health care projects. perhaps the question now is what happens to those money-losin initiatives? will we see more financial zmin under pichai and ruth porat from wall street mo has been known for financial dplin. as pichai steps up does he step away from those and the traditional businesses like advertising paying for them. >> deirdre bosa wove been tweeting over this news when it broke. what

deedra bosa in statutes san francisco with details, dee. >> carl slacks has to pull in more investors and paying competitive environment. the the call under way and stewart butterfield threw shade at microsoft pointing out the overwhelming of majority of customers are office 365 customers he says they choose slack because of the use are experience acknowledge being the microsoft 20 million active daily users questioning how it's calculated saying they could be forced migrations the stock is it turning around and gaining ground in the after hours as the call continues. the company announcing a change to the board of directors that i want to mention. michael mcnamara joining the firm and one stepping down. >> pete, the back and forth between those two microsoft and slack interesting. >> slack trying to attack the competition which makes sense. they should go after them. but the reality of the story is that microsoft own this is they have a growth rate far better whether forced or not people are use attention teams. nef a huge advantage 20 million daily active users for microsoft. but i

deedra bosa has them. >> touting new tax and regulations stats. year having collected a total of $2 billion in occupancy taxes and says it resolved the majority of outstanding litigation in u.s. cities as the start upheads to an expected 2020 listing as regulatory skroutny blds it's avoid the tax in some cities law legal action. it says it collects in three of every four listings. now meanwhile online travel agencies like booking.com, vrb oh and home away as they moved to home sharing it's unclear if or how they handle occupancy taxes. we reached out to them but haven't heard back finally, brian as you know airbnb says it was ebidta profit noble 2017 and '10u8 it has a leg up on the cash burning unicorns like uber and lyft. this is key to how they view its value. >> deedra, thank you very much quick comment, anybody awaiting the airbnb ipo given the recent not successful ipos of others will they do it better. >> maybe airbnb will be painted with a brush it doesn't deserve. the fact we get the tax numbers and backtrack into the balance sheet and mo