we have dom chu, deirdre ra bosa and brian sullivan it would have blocked tiktok from being downloadedores they challenged the ban calling it unconstitutional and a violation of due process deirdre, a lot of people are focused on the basis of the judge's decision here, and what that leaves open for the trump administration to do next. >> yeah, absolutely. and the whole process has been one confusing large saga we're still fighting over details. bytedance saying tiktok global will still be 89% owned by bytedance, of course, oracle saying it will mostly be held by americans. the big question here, especially since over the weekend we were on the brink of having those downloads banned, does this executive order actually result in more youth downloading vpns, for example, and pushing tiktok to the underground, essentially creating a whole new host of security issues? i think that is an important consideration for the trump administration when they look at such a move. vpns come with a whole other host of security issues. so is that what is the outcome from here if we reach that november de

right there will the tiktok ban work like on wechat of which officials said are dead we turn to deirdre bosa for more on that. deirdre, the whole company depends on it. >> the ban only applies to downloads and functionality in the u.s. where there are just 19 million wechat users versus 2.2 billion users in china cutting it off from the android app stores in china, that would be catastrophic on many levels, and they didn't go there but, of course, that senior official telling me that they are dead, not that 10 tencent would be open to that, anyway. but they do rely on it to communicate back home with people in china. these are american businesses, and the ones likely to be affected are small and medium-sized ones, not the large multi-nationals that operate over there and are so far unaffected like starbuck's, mcdonald's,android or google they did not see that worst-case scenario it was interesting to see the different statements, saying the restrictions are unfortunate, using much softer language than what we hear from tiktok >> we reached out to bill baruch for his thoughts on this they sai

♪ >>> good wednesday morning welcome to "squawk alley" i'm carl quintanilla with jon fortt and deirdre bosaon of news. vaccine news stimulus watch and of course, palantir, we are awaiting the opening trade set to begin really at any moment. alex karp, the ceo will join us right here on cnbc immediately following the first trade, jon as we said, it's been a long road a lot of filings. a lot to read about the company, voting structure, privacy, you name it. and the business model at large. >> yeah. and it's another big, big ipo but very different from snow flake, which we saw which has a ton of customers, large and small and kind of this very broad play on data in the cloud. this is a company that's dealing with big data and has just a few really huge customers, carl. >> and that's where we'll start this morning, jon. josh lipton has more on what to expect once the first trade happens. hey, josh. >> carl, a master of creativity. that is how ceo alex karp describes his company, palantir. a data miner, it's software ahows customers to integrate volumes of data into a central platform where it c

. >> no, we are delighted to have you here today along with our own deirdre bosa >> send me an ip. >>give you ahard time this way. >> we are very, very glad you all are here we're going to start with the big story today, a fast-moving story. it's all about tiktok. sources are saying that president trump is expected to decide on tiktok's fate in the u.s. in the next 24 to 36 hours. let's bring in julia boorstin. >> expected to be in the deal that it's not final yet and we don't know what percentage of this company of tiktok that walmart would be owning, but i am told assuming that walmart does participate, walmart would get a board seat and that it's possible that walmart could actually get a bigger percent much the company than oracle, but both less than 20%, because it's not a majority u.s.-owned company it would be majority china owned. so i think it's important to note here that's why there would be a maximum of 20% for either walmart or for oracle in order to maintain that china ownership there. we till don't know what percentage it will be, and we do expect this to be resolved >>

sweden, at spotify headquarters "squawk alley" is live ♪ >> good thursday morning jo jon fortt and deirdre bosaoining me you're making a point of whether or not we need to see a reconstitution in what we have called f.a.a.n.g. >>. >> we have had a reemerging. time to look at some of the lesser known tech names and the smaller teches that are just getting started. we have two of those on the show today. a cloud air company is up big after reporting the latest quarter, and big commerce is finding it's footing after it's first earnings report. if you're an investor out there and you have gotten motion sickness from tesla's stock lain changes. coming up in just a couple minutes, right >> that's a great point, jon this year we're hearing more about some of the other names you brought up but in one way i would say these are not necessarily smaller tech investors are getting nervous even though we have seen very, very good quarters from the like of docusign and c scale. we're seeing that perhaps that don't fill these excised expectations people are starting to wonder have they run up too >> that is a

high valuation debut are good for the market reid hoffman and mark pincus is going to join us deirdre bosaas our next guest. >> thank you todd, for being here >> it's great to be here. >> so todd in tweet storm of yours last night, you laid out the drawbacks, you said they length of time money on the table. you continue to move up. so my question to you is if you had to do it all over again would you do it the same way by an ipo? traditional? >> it is interesting to think back the three years since we have been public we're about connecting companies to the employee at the world, the companies at fed ex or nordstrom, they log in to get into the organizations it is more visibilitievisibilits so that was a big benefit. the other thaing going through the minds of the ceos is they are taking their companies public there is a big, big incentive to not do anything out of the ordinary do you want your ipo to be as smooth and seamless and predictable as possible. i think that is a pig force to keep things predictable. >> right, so what you're outlining is perhaps a little pressure when the company

deirdre bosa with us we are kicking off one of the toughest months for stocks getting a nice start here as the s&p hit an all-time high we continue to watch the large cap tech names that include stocks like zoom and percentage gains that make your jaw drop. >> absolutely, carl. speaking of zoom, i have been calling it the consult of zoom, we have been talking about those incredible numbers, climbing market cap, remember they went public at a 9.2 valuation. take a look at these results, this chart says it all the increase, the step up, year over year, the earnings was something to behold. and at the same time, guys, it is our job to throw a little cold water on a quality like following. if you think it can become the next blue chip tech stock we saw in the results last night that it is growing a base of small users and it is making up a larger portion of revenue. do they stay after the lock downs when they no longer have to to valuation. it is a forward sales ratio. nearly three times that of slacks what is next i know that investors are watching these huge gains, but what will be the ne

. >> thank you to carl for opening things up, deirdre bosa, thank you for joining me as well apple is down 15% but still up 20% in the past three months, right? >> that is a good point, september does not make a year, but it has been a tough sell off for tech stocks. some of the most valuable companies for ratios or sales to earnings, whatever you want to look at, they're going up and up today. you have zoom video up they are all names in the black today despite the broader sell off. these are some of the growthiest stock frothyist stocks working from home is still going strong in the last month or so what sector has been out performs that has been materials. this is really a play that the real economy is going to open. we have seen that performance this month so far, but on a day like today you see these work from home, remote plays, really working. >> expensive stocks you mentioned still expensive. earnings, pretty strong. oracle and adobe tend to be two of the big software names first out the gate they both had really solid earnings and as we talked about, and we will talk about mo

for more on this we will go to deirdre bosa >> yes, let me are run you through a few.ped 40% this is a relatively small sell off for zoom video in particular it is still up 450%. so we have to keep this in per perspective. this stock is down more than 8% in the session it is a relative under performer. i say only up about 40% year today. peloton is down also this year that is down 10% this session. still up more than 185%. year to date shopify, a big boost for this waem foreek for t cap. you also have fastly and opta, cloud software names that have seen huge gains. i would say that analysts have been saying for some time that a break in this momentum play could be a good thing. but we're certainly seeing that today. getting hit hardest also is docusign that will be reporting after the bell today this is a stock up 400% year to date while these selloffs today look brutal and they are brutal today. when you take them over the last year barely denting the gains they have made back over to you >> yeah, the debate will rage here assuming this price action remains in tact ab

it's time for "rapid fire" and it's a bcs edition dominic chu and deirdre bosa and mike santoli all joine tiktok was supposed to have a ban on the app set to happen this weekend is the sale of tiktok, deirdre, even going to happen, and what can we expect this afternoon, do you think? >> even if we get some kind of action here in the united states, there is still the big question of beijing. over the last week we've certainly seen editorial as that are firmly, firmly against this deal, so there are so many pieces to be put in place. i thought it was interesting, kelly, what tiktok is saying, the threat of this ban has really damaged their reputation with users, with creators, so you have to wonder, what is oracle and walmart getting what is this doing to tiktok if this is really the best competitor against the facebook goliath? what will they be valued by the time this is all said and done >> it's interesting, because in many ways their profile hasn't been higher. all the attention might have helped with people going, what is this tiktok oh, yeah, now i know >> but the thing is, the atten

let's get to deirdre bosa. we're having trouble with deirdre's mic. 45% revenue growth here for docusign the stock is down by 3.2% here in the extended hours. it moves in tandem with a name like a zoom which is seen as a beneficiary of all the same sorts of trends. karen? >> it's a great product. the valuation is too high. i thought their earnings looked really great i thought the guidance was good. there was a lot to like except for where the stock is a valuation. even down a little bit, i wouldn't be a buyer here. >> initially it did look like it couldn't bounce because we did have a trade higher in the after hours session initially at least until it fell down by 3.6% now. >> yeah. what did we play the other day i should know the no-mo part the reason why i thought this was particularly dangerous is the stock went from 200 to 290 in a straight line basically now here we are 235 or so. i think there's an entry level to buy it. my sense is you buy it back where it broke out from, which is 195 the story isn't bro

>>> welcome back some breaking news on amazon deirdre bosa has details deirdre. >> sara, amazon added of directors. general alexander also served as director of the nsa from 2005 to 2014 he currently serves as co-ceo of iron net, a cybersecurity tech company he founded in 2014 this is an interesting move, guys, adding someone to the amazon board with close ties to the government it comes in the wake of losing that important and lucrative jedi cloud contract to microsoft, that continues to protest and called in a blog post a politically corrupt contract award general alexander is the eleventh board member for amazon and will receive amazon rsus for serving. back to you. >> thank you for that. stocks closed high leaving investors wondering where the market goes from here. joining us jeff graph and mike santoli part of the conversation we had a 10% pullback for the nasdaq and a bounce today of 3%. >> it's all been pretty healthy all things considered. most people concern themselves with breadth, most of the measures we see are in good shape. there's concentration in outperformance that's

♪ >>> good wednesday morning welcome to "squawk alley" i'm carl quintanilla with jon fortt and deirdre bosa