deirdre bosa joins us.significant of news was this about ma and ant >> jeinvestors are seeing as a path to i.p.o., ant said it doesn't have any plans any time soon look at jack ma, once known as the people's billionaire, thought to be untouchable because of his popularity within china but also globally. now he's persona non grata at the companies he helped found. i guess the question going forward, can the companies success without him at the helm, one of the risk factors may be taken out along with the reopening but can they grow at the same pace. all chinese tech adrs have started 2023 off on a roll, continuing the outperformance from last year. >> the reopening may be just another signal their massive internet crackdown is winding down, cooling off, i don't know. hard to read into the signals there. deirdre bosa thank you >>> check out shares of coinbase after jeffrey's said the company is best to weather in the long term a $35 price target kate rooney joins us with more >> a couple of dynamics are playi

deirdre bosa joins us.estors seem to be taking it as a good sign that beijing could ease up on regulatory pressures. we have been fooled before, but i guess they have to try to stimulate their economy now. what do you make of it >> we have been fooled before, and i think where investors are probably looking or putting weight into is the property factor not necessarily the chinese internet names we have been fooled before, and just last week, we know the regulatory bodies in china started to look at online brokerages, and some of the names in the space, the names listed in the u.s. crumbled under that pressure. there's also the question of how much damage has been done. yes, alibaba is one of the leaders moving higher on the back of that, but is ant going to be worth $300 billion ever again, and there's also other companies, lost tha lot of grow. and didi had to be listed. new and upand coming names, are they getting too big will beijing look to them next these are questions that plague the chinese markets a

plus deirdre bosa on amazon and bertha coombs on walgreens dow down 1% on the s&p 500 everyone is weakerat stands out is energy, up 2%, mike everyone else not having a good day including technology chris verrone, not doing much to help sentiment around microsoft and apple, which he says is just a sign in the process that they're starting to correct from their size and dominance, and he sees a very different market from the other side. >> yeah. i mean, usually one of these episodes when we have a bear market that does proceed into a phase where you don't want to have havens that people are comfortable hiding out in, usually it doesn't work that way. if you look at the nasdaq's valuation of 1%, it's down a lot. it's down from 30 or so a year ago to 20 times earnings, however, it's still at about an average premium to the s&p 500 in other words, it's not gotten much cheaper versus the typical stock. that's something that continues to have a little bit of wear and tear on those stocks, on those valuations for a while. >> i think the big news today, mike, is on jobs, right? adp, the private s

deirdre bosa has the latest google headlines for us, and julia boorstin has the hearing updates. welcome to everybody deirdre, we'll start with you. what's the latest? >> we just got a statement from alphabet and they're hitting back pretty hard let me read it to you. alphabet says the doj is doubling down on a flawed argument that would slow innovation, raise advertising fees, and make it harder for thousands of small businesses and publishers to grow now, google here is referring to a number of other outstanding lawsuits ds against the company, including a first one by the doj that was filed during the trump administration that doesn't go to trial until later this year, september that indicates how long these things can take to work their way through the system and why you're not seeing much of a reaction in terms of google's stock price investors typically have been fairly complacent about these things, because they do take so long and we haven't seen a lot of action the doj is arguing that google operates on multiple sides of the market, buying, selling, the auction process, c

now >>> good thursday morning welcome to "techcheck," i'm carl quintanilla with jon fortt and deirdre bosa coming up this hour the growth debate earnings versus econ some bearish commentary, bullish data what side of the market should you be on. tesla turn around, the in 2023 later, an exclue wisive with the of jetblue we'll get his take on the consumer in a moment >> let's look at the market as investors digest as you can see the dow up about .3%. it's the nasdaq that's continuing to be the outperformer comei coming off some of the earlier gains, tesla is on a tear energy led by chevron after announcing a buyback on the flip side the safety trade moving lower with consumer staples and health care lagging, john >> let's start with the data and earnings headline economic data coming in strong, durable goods surge, jobless claims remain low. on the earnings front, corporate america isn't painting the soft landing picture the econ data might be dom, can you sort through this for us in. >> we can. a little bit over a quarter of companies in in the s&p have reported their results it's been a mi

. >>> happy wednesday welcome to "techcheck" i'm jon fortt with carl quintanilla and deirdre bosa microsoft downgraded, meta named a top pick salesforce surge on labor plans. details on the plans to cut a tenth of the workforce and will jeff bezos pull an iger maybe a second round as amazon's ceo? i don't think so >> find out what they mean we want to kick off this morning with two big calls on the street today. a buy call on meta and a downgrade of wall street darling microsoft. meta, to say it's seen its resurgence would be an understatement went from a dud to a favorite. stock got upgraded to buy at j.p. morgan, a top pick of the year at citi and goldman and new street initiating it with a buy today. why the optimism analysts are citing increased cost discipline to a rebuild of the ad platform, and the general idea that the negativity is getting priced in. let's bring in cnbc contributor to todd gordon to talk about it the note is interesting, they argue the privacy changes are getting absorbed, see tiktok as a threat that may fade later in the year is that pollyanna or not >> i think so

with deirdre bosa and jon fortt. six percent of spotify employee's cut and wayfair two upgrades from sell to buy. >> let's check the markets as we kick off the trading week, we are in rally mode. stocks are near session highs. you can see the nasdaq leading the way, outperformer despite a rise in yield. materials, your laggards >> we begin with some activist action on this 34monday morning elliott investment has made an invest in salesforce this comes as the stock has continued to underperform and the company announced layoffs. frank holland is here with details. >> you know, let's start with salesforce outperforming the nasdaq elliott management taking a stake in the giant we got a statement saying the respect for founder and ceo mark benoff and saying we look to work constructively with salesforce so one area that analysts and other investors have mentioned is the underperformance when it comes to shareholder value one area is free cash flow generation you look at salesforce compared to cloud peers, service at 17%

i'm carl quintanilla with jon fortt and deirdre bosa spotify surge. biden thinks about cutting huawei. >>> good day for gm. that stock higher, dee. >> let's get a check on the markets. stocks look to rebound from yesterday's losses take a look root now the dow industrials up 0.25% but nasdaq up more than 1% it's the ev makers, liucid, tesla, rivian there. the dow is up 2% the s&p on pace for its best month since 2019 and the nasdaq, listen to this, it is up 9% this month alone that would make it the best month since july, jon. >> of course it's going to stay that way today's move being driven by at love earnings. nearly every sector from fast food to machinery and energy, while the industries might be different, inflation and pricing continue to dominate the conversation our dom chu has more >> so, jon, as we talk about the reports we've seen, the market reactions have been mixed. we're off the worst levels of the session. they've all been generally good earnings reports if you take a look at mcdonald's, down 2.5%, caterpillar down 4% and exxonmobil u

i'm deirdre bosa with carl quintanilla and jon fortt. too early to rush back into tech the sector's severe downturn still has legs and we'll ask the ceo of the nasdaq about that, along with the trade desk ceo and amazon's head of devices later, call it a tech tug of war on chat gpt's new evaluation we'll debate it it's one of our friends. >> let's take a look at the market reaction to the jobs numbers. all the major indices moving up as non-farm payrolls beat estimates for december everything up about 1.5% more important, wage growth came in belowexpectations, indicating inflation may be reaching its peak. that's not the whole story still lower this morning you can check out there on the scre, asana down almost 2%, roblox about flat. coinbase down 1.75%, bill.com also flat. carl, it's not all together clear that the wage growth is all that's being focused on here we have quite a few hours left of trading to go >> indeed. but your point about technology certainly communications services, info tech, the ndxd, five weeks down. clearly has b

i'm carl quintanilla with deirdre bosa and jon fortt today, proxies, outperformance nelson peltz wants to restore the magic to disney. later, cpi prints in line with estimates, and growth stocks to consider this morning. we'll talk to the ceo of one of those names, box, the rare tech outperformer in 2020 with aaron levie joining us on set. >> let's get a quick check on markets, coming right in line with expectations, and we're off highs. the nasdaq is underperformer, giving back some gains from the beginning of the year, down about .4%. the dow industrial up about 90 points energy and communication services are leading health care is your laggard. within communication services, guess who, disney taking the reign, seeing a 3% gain. what a good interview with nelson peltz >> disney having a good day. having a great start to the year as well. stock's having one of the second best performer stocks so far this year. the three-year down 50 pest from the all-time high in march of 2021 in fact, it's back below where it was pre-pandemic and a big part of that drop was due to the latest quarter,

i'm carl quintanilla with deirdre bosa and jon fortt we're going to tell you more top picks for meta why the street is so bullish on mark zuckerberg and company. jim briar will join us from davos. later on, the reason why a new ceo could be coming soon. >> carl, it is anhour and a half into trade. let's check out the markets as concerns about fed overtightening start to take hold today's jobless claims signaling that this labor market is still resilient. right now you're seeing the dow industrials down 0.7 of a percent. the nasdaq composite is down 1.2 of a percent we've got a speech from fed price chair lael brainerd and we are going to be kicking off the tech season. >> earnings is where we begin today. netflix as youmentioned, the first big test for tech investors bracing for a sharp drop in earnings dom chu with us now, has a look at how the street is thinking about declining profits, to the extent there were any profits. >> there are going to be profits but there will be declines and big ones to your point, jon. if you take a look at the ones that we focus on so often, which are

today announcing it's going to cut 18,000 workers, and here to discuss that are steve kovak and deirdre bosa i assume i'm supposed to walk over here to join you. are these cuts a tech problem, steve, solely, or is it a sign of something deeper? >> well, right now what we've seen is it's a tech problem, unique to tech, right? we saw them overhire during the pandemic there was this exuberance around technology that we're going to be stuck in our homes forever, buying new laptops and computers and phones every year forever. obviously didn't happen. and now we're seeing the pullback here. and i look at the hiring rates of the big tech firms, and you look at amazon at one end of the spectrum, over doubled their staff during the pandemic. >> during the pandemic >> now we're seeing them come back to earth. apple on the other end grew by 20% or so during the first couple years of the pandemic so they were more deliberate in hiring and of course we haven't seen them do max layoffs yet >> deirdre, don't you agree, we have to put these in the context of how many people were added in order to understand

. >>> good wednesday morning, welcome to tech check, i'm carl quintanilla with deirdre bosa a we're going to discuss microsoft's impact on macro. more results tonight, actionable tech bets after the bell, why investors are watching tesla, ibm, and service now later on, the quote, buy of the century. the ceo tells us why wall street is so bullish on that stock. >> well, those microsoft earnings, as you mentioned, carl, taking a toll on the broader indices, the nasdaq on pace this year 25% removed from its most recent 52-week high with the three-week win streak, looking likely to end. see names like data dog, snowflakes, mdown 2% on the doj lawsuit over the ad business another drop this morning, though, is big tech gets hit early. the other earnings piece of the puzzle, of course s tesla. that is today after the bell against, backdrop of elon musk's court appearances right here in san francisco this week. that stock down with the rest o. ma -- of the market, up 30%. the street is expecting record results tonight. >> let's start with microsoft, shares are lower this morning but off the lows,

chatgpt is blocked baidu's stock is flat in a down market and having a strong market to 2023, up 24% deirdre bosa steve covac are with us now to discuss all this. steve, bigger picture, it seems to me that these a.i. programs are essentially, you go out and train them, right, going out and consume a lot of data and consume a lot of language and try to predict the next thing. presumably there's going to be a lot of iterations of this, it will be a feature as opposed to just a product, is that right? >> yeah. that's right but it goes beyond chatgpt, mike it goes into things that let's talk in the context of microsoft which is the real company that's doing stuff here what they see they're doing, satya nadella talked about this extensively last earnings call and saying we're going to incorporate this technology across our technology stack. so today, it's running on azure. that's a good part of the azure business even if people want to have their own versions of chatgpt, that maybe don't use open a.i., they see it as an opportunity to run the systems on azure he bee yond that they're selling some of t

guys >> thank you very much eamon, let's bring in deirdre bosa now as well as steve kovach still withs. eamon just mentioned the magic word, divestiture. what would the justice department seem google to divest >> the doj really has a problem with alphabet being on all sides of the trans action, the buying and selling as well as the auction process, so he mention also that $3 billion acquisition a few years ago for double click. that's an area where they could force the divestiture. it could look even bigger than that the key, too, going forward is that's unlikely. however, when you think about what google can or cannot do right now, it would be very, very difficult to make another acquisition in this space at a time when a lot of folks are calling for consolidation. perhaps the tender for the growth of the industry for google but they say it doesn't matter because they are the predominant player this is what google would note as well, that its dominance has been declining a little bit. you've got players like amazon that were able to build an advertising business and scale it out very

other stocks in his portfolio include citi group and netflix deirdre bosa joins us with more on the alibabaything, it means for that company. >> reporter: well, judging by the share price it doesn't mean a whole lot. you saw the market really shrug this off alibaba shares other on the day, to close that way because alibaba is not a bed bath & beyond it's not a gamestop. this is a company with a market cap of over $300 million it is not subject to those same kind of short-squeezedynamics as the previous targets that ryan cohen has gone after. another really, really important component of the story, and that is the chinese communist party called them sort of the activists in alibaba and many other chinese tech companies they have even issued what's called golden shares which allows chinese government parties or bodies, i should say, there's only one party, to take small stakes in companies like alibaba. it gives them special voting rights that can allow them to veto important decisions or nominate certain directors, so it's hard to see, mike, how ryan cohen is going to enact change when he's

. >>> happy wednesday welcome to "techcheck" i'm jon fortt with carl quintanilla and deirdre bosa microsofto cut a tenth of the workforce and will jeff bezos pull an iger maybe a second round as amazon's ceo? i don't think so >> find out what they mean we want to kick off this morning with two big calls on the street

. >>> good wednesday morning, welcome to tech check, i'm carl quintanilla with deirdre bosa a we're goingll, why investors are watching tesla, ibm, and service now later on, the quote, buy of the century. the ceo tells us why wall street is so bullish on that stock. >> well, those microsoft earnings, as you mentioned, carl, taking a toll on the broader indices, the nasdaq on

with deirdre bosa and jon fortt. sell to buy. >> let's check the markets as we kick off the trading week, we are in rally mode. stocks are near session highs. you can see the nasdaq leading the way, outperformer despite a rise in yield. materials, your laggards >> we begin with some activist

i'm carl quintanilla with jon fortt and deirdre bosa spotify surge.>> good day for gm. that stock higher, dee. >> let's get a check on the markets. stocks look to rebound from yesterday's losses take a look root now the dow industrials up 0.25% but nasdaq up more than 1% it's the e

i'm deirdre bosa with carl quintanilla and jon fortt.k into tech the sector's severe downturn still has legs and we'll ask the ceo of the nasdaq about that, along with the trade desk ceo and amazon's head of devices later, call it a tech tug of war on chat gpt's new evaluation we'll debate it it's one of our friends.

i'm carl quintanilla with deirdre bosa and jon fortt we're going to tell you more top picks for metam briar will join us from davos.

now >>> good thursday morning welcome to "techcheck," i'm carl quintanilla with jon fortt and deirdre bosa the growth debate earnings versus econ some bearish commentary, bullish data what side of the market should you be on. tesla turn around, the in 2023 later, an exclue wisive with the of jetblue we'll get his take on the consumer in a moment >> let's loo

i'm carl quintanilla with deirdre bosa and jon fortt today, proxies, outperformance nelson peltz wantsrestore the magic to disney. later, cpi prints in line with estimates, and growth stocks to consider this morning. we'll talk to the ceo of one of those names, box, the rare tech outperformer in 2020 with aaron levie joining us on set. >> let's get a quick check on markets, coming right in line with expectations, and we're off highs. the nasdaq is underperformer