ibm commands and thanks president biden, said the majority chuck schumer, the members of congress who are with us here today and leaders across washington who work tirelessly to make this unique investment in american semiconductor industry, please give them a round of applause. [applause] this will play a critical role in ensuring a reliable and secure supply of chips, it will also help advance the business of quantum computing, the chips and science act, the federal government has made a important investor in america's future, an ibm is going to step forward too. we are proud to announce that ibm is pledging to invest $20 billion dollars across the region over this next decade in research and development. that will keep the hudson valley at the forefront of global technology leadership. this investment includes breakthroughs in semiconductor technology, mainframe computers, quantum computers and artificial intelligence. all of this will boost economic activity and create jobs in addition to supporting the 7500 jobs in the hudson valley and 11,000 jobs across the state. show less tex

president biden travel to poughkeepsie new york to promote the chips and science act while touring an ibm factory saying the new law would use investment in research and develop it, the president also claimed it would pave the way for the u.s. to lead in technologies like quantum computing artificial intelligence and advanced technology. >> created countless jobs and strengthen our economy. it is telling that 74 years ago, dwight eisenhower opened one of the buildings on the site, he called it -- to the future of america, that is what we are seeing here, this very site has produced data processing systems that have made the u.s. social security system possible, the apollo program to help put a man on the moon and the power of u.s. businesses in every industry, literally every industry. [applause] earlier this year, but gypsy announced the latest generation of mainframe that still underpins the global economy. by the way, poughkeepsie is the place where we manufacture the state of the art computers. and we export these made in america computers all over the world. poughkeepsie is innovatin

ibm's not seeing it.all the one thing that really is killing them, though, as i mentioned now three times, is the strong dollar. as they get roughly 60% of their sales from overseas. but if the dollar ever peaks holy cow, will these guys clean up bottom line, even after ibm's nearly 5% rally today the stock's still down substantially "vice" where it was trading a few months ago i'm optimistic including that big dividend, it is backed up by plenty of cash but keep in mind this remains a trust but verify situation going forward. "mad money" is back after the break. >> announcer: coming up, ten four, good buddy cramer compares a couple companies that might make you money for the long haul. next it seems like things are falling apart lately. the economy. the market... everything. but upwork lets you strategically hire talent to weather all ups and downs your business might go through. look at all that talent. ♪♪ vo: palantir software. empowers scuderia ferrari to make critical decisions a split second faster.

ibm typically tends to do well you look at ibm over the next decade, the revenue has done nothing butank you have to put that in context. nobody, no tech person says oh, i just got to own ibm over the last decade. that's microsoft, apple, google, the real a loved names, tesla. so you have a much different setup for expectations in that versus something else. we own oracle somewhat for the same reason. we bought it back, i should say, this past week, because our view is okay, that's definitely not a name that's been loved got a very low multiple, but they do seem to be actually gaining some momentum in terms of cloud infrastructure market share. so i think you have to put this in context of if you're somebody who has very high expectations, you're at much greater risk of having your stock clobbered off earnings versus somebody like a netflix where the stock was down 60% year to date they put up their numbers and the stock rightfully was up a fair bit so i think you kind of need to separate that out right now, and don't get me wrong we have much more longs than we have shorts. again, be

it's great to be here at ibm here in poughkeepsie. you know, and an iconic american company, founded more than 100 years ago, and that has more patents than any other u.s. company. than any other. and i feel it is going to keep going. and the source of american jobs, american innovation, and american pride. and it's here, it's here at this factory, and factories of other companies across america, where america's future is literally being built. because of the ground-breaking chips and science act that i signed into law with the help of the majority leader schumer and members of the congress that are here today. chuck stayed the course. stuck with me. and we got it done. and folks, by the way, just since we've been elected, we've created 678,000 new manufacturing jobs. [ applause ] >> and just getting starting. where is it written that we can't lead manufacturing in the world? i don't know where that's written. that's one of the things that the chips act is going to change. a law that is going to build a future and a proud, proud legac

it's not ibm versus aws.ud bet agnostic if the consulting workforce keeps doing its job, ibm wins when the cloud giants win. ibm gets half its revenue outside the america's region the strong dollar has hammered sales and profits and they still manage to beat on the top and bottom lines ibm has a lot of people, about a quarter million, at a time when labor costs are soaring, but management says they can make them productive and these results suggest it's starting to work the market downturn is just helping us see the ibm turn around, andrew, that's already been happening. >> what about the threat of a recession and what do you actually think what do you actually think here? >> this is always hard -- >> i know. >> i start out some place and then i write it and i'm like -- the threat of a recession real because particularly in europe where ibm has a lot of indepe independence, they say they have enough strength to carry through. and so much of their business is b2b, they feel confident that what they're doing is

one is dave & buster's and ibm. ibm reports after the bell tomorrow give us a short elevator pitch >> the small cap area and i just picked it out of people covering it this is not affected by higher rates and have a very good domestic base. the small cap area is an uplift. it is not affected by the dollar ibm is a conservative name in the tech rout. it has solid earnings and not affected by other tech drawdowns we have seen it remains a good name >> ibm and s&p about 2.5% higher since the start of q4. ben, thank you for the insight. >>> we when come back on "worldwide exchange. why affordable crisis could be hitting the housing market sooner than later. >>> and why apple could go one step farther with a folding phone. >>> and the streaming struggles continue for netflix a very busy hour when "worldwide exchange" returns. stay with us dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones ♪♪ age before beauty? why not both? visibly diminish

shares of allstate and ibm are on the move. we're going to get details from their quarters as well contessa brewer on las vegas, sands. cannabis company green thumb jumping on some gas station news something is afoot at the circle k. k. we'll explain right after this i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones go. go scientist. go software. go cure. go production. go faster and safer. emerson automation software helps breakthrough medicines get to market at warp speed. go human go. go boldly. emerson. the new iphone 14 pro is amazing. the camera is incredible. and you'll get our best deal. nice, but i can't accept it. unless every business gets the best deal. on every iphone. uh, actually... we already do that. the plumber with the ascot! big bjorn, little bjorn, too! the caterer who really cares. every business should get the deal! we make a good team. every business gets at&t's best deals on every iphone. incl

so they're definitely touting the investmentes from ibm, $20 billion.earlier this week from micron for $100 billion. they've been able to bring in some of the investments from foreign countries and really signal to people who have been frustrated for a long time about this loss of manufacturing jobs, particularly in the midwest. biden brought this same message to places like ohio and pennsylvania and those are particularly swing states and where there is a lot of key senate races right now. >> yeah. and also we should note that president followed up his visit to ibm with a pair of big dollar fundraisersen that certainly is how the white house is using them as well. raise money for the party now. just five weeks from the mid terms. white house reporter for bloomberg news, thank you so much for joining us this morning. coming up, we're going to go live to cnbc ahead of what could be a volatile day on wall street. the futures board as you can see is mostly flat right now. but a key report out later this morning could have a major impact on the markets. wil

listen to leaders of ibm and across the country. they're making decisions right now about where we're going to invest and produce these chips and they're choosing america because they see we're coming back, we're leading the way. i said, since i came to office, our economy has created 10 million jobs, 668,000 manufacturing jobs, proof that made in america is no longer a slogan. it's the reality. and the chips and science act, makes advance manufacturing facilities here in america. since i signed into law we've seen progress. just here in hudson valley, ibm is investing $20 billion over the next ten to design a semiconductor, mainframe technology and quantum computers. in syracuse, announcing 120 billion over 20 years to make special memory chips. don't have to explain to you what a memory chip is. the memory that store information, among other things. it will create 50,000 jobs and create an increase in america's share of the memory chips, increase it by 500%. that's the largest american investment of its kind, ever, ever, ever. and

ibm. let's create. >>> welcome back to "worldwide exchange." big money movers shares of ibm are higher with the better than expected third quarter results. led by a 15% rise of the infrastructure business. ibm also offering a more upbeat forecast for full year sales >>> lam research warns of $2 billion hit from u.s. exports from shipments to china for 2023 lam research gets 30% of business from china. alcoa is sliding after the third quarter loss analysts had expected a profit lower shipments and falling prices and pension restructuring charge weighing on the company. >>> also shares of allstate down 9% as the insurance company expects a third quarter loss due to catastrophic losses related to hurricane ian losses continue to rise for injury and physical damage allstate will release full results in early november. >>> when it comes to electric vehicles, we spend a lot of time talking tesla. with more carmakers putting more cash to work, the competition is as fierce as ever. one of the newest evs on the market is making history joining me now on

tesla and ibm. tesla falling pretty big, down 4%, as sales fall short. elon musk sounding positive as ever on the long term, saying the company one day could be worth more than apple and saudi aramco combined. yeah but on the flip side, ib

ibm. let's create >>> what is wall street buzzing about? still no word from adidas about kanye west, but the pressure is rising antidefamation league today calling on adidas to cut ties with the rapper. he's made dangerous marks about jewish people in recent weeks. adidas has not immediately responded to requests for comments from cnbc we've been asking for days the relationship is currently under review morningstar analyst david schwartz estimates ye sales to be around $2 billion, potentially making up 10% of the total sales. today it announced preliminary third quarter results, which lowered the full-year 2022 guidance, due to deterioration and traffic trends in china, and significant inventory buildup. the stock is under pressure on the preannouncement, but no word in the release indeed, the company has releasing new ye styles this week >>> up next, eric hippeau. we'll be right back. ♪ ♪ connecting to opportunity is just part of the hustle. ♪ ♪ opportunity is using data to create a competitive advantage. ♪ ♪ it's raising capital that hel

ibm is in that category and it is because of ibm but ibm doing its part today, $5 rise, a report was good, better-than-expected revenue and more importantly saying it expects to top 4 year sales growth targets, the key for ibm is in good demand for its digital services and that upsets the strong dollar which hurts these international giants. at&t raised its outlook for profit and wireless revenue. it continues to add subscribers and the stock price doing well when you're up by 7% as at&t, added 2.2 million wireless subscribers in the first quarters of this year, but we will group these other ones together for the sake of time all reporting today, dow chemical worn it is up $0.76, american airlines, among the other reports we had as well. we talked about dow being in line. the earnings report, stock is having a good reaction based on where it is priced in its earnings report. it was a decent report and the stock did well in the middle of the day. it doesn't match up to the actual report, and they missed on profit. the prophet was very close to being a record and elon musk said they wi

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what ibm is doing and arvin leading the way with strong results.tu: i'm about to say modern big tech reports next week, all of them on your screen. susan: microsoft, apple, alphabet. stu: yeah, big tech, new tech. highlights please. stu: super bowl for big tech and in the white knuckle backdrop, it's better than theater results from the likes of apple, amazon, and microsoft as well. it's important in terms of what i've used a barometer for seeing green screens and techs and enterprise is holding up and apple is the one who knows it well. that's the one -- probably the most important stock to report during earning season. that's really the key. a lot of negative sentiment and iphone 14 is better than expected and that's the headline. stu: people always go at me, apple is a fabulous company. 200 billion in cash. why is it languishing at $143 a share way down from high of $180? >> the worries are that growth is starting to decelerate and the boom is coming off the rose and remember, we've seen again and again with cook, money stroke continues to navig

but ibm gave a bullish outlook for full-year sales. at&t, nice move for shares here, up 7.5, looking at their best day since the pandemic lockdown of back in march of 2020. the wireless giant lifted its annual profit outlook and posted a double beat on quarterly profit and revenue. wireless e revenue rose 5.6%. that is the best quarterly improvement in more than a decade. but, you know, the overall earnings excitement was short-lived. s&p and the nasdaq turned negative before the dow did. maybe markets were hit with this triple whammy: after just 45 days in office, u.k. prime minister liz truss resigned this morning after a very rocky start during which she slashed taxes as inflation flared. the pound sterling imploded and, finally, as charlie gasparino predicted last might, the conservative leader lost her own party's support, so she threw in the towel. second whammy, tesla shares are stalling out. they are plumbing close to the bottom of the s&p 500, down 6.7% after the ev leader missed on quarterly revenue and cut full-year delivery

to speak on ibm, i think it bodes well for the rest of the infrastructure names this quarter. we typically view these businesses as very durable and the demand for them is very durable from customers. >> i wonder what happens to government demand, given all of the stresses economically that governments are facing i'm thinking particularly about europe, but not just europe. and also what happens with some of the smoothing out of infrastructure demand during holiday? not only did we hear from adobe and their forecast they expect not so much spikes but in a way this snap forecast seemed to suggest that, you know, customer -- consumer demand might be weaker than usual does that read through infrastructure at all? >> that's not what we've seen. we've seen, regardless of the demand for the end product that the infrastructure is continued to grow the underlying data is continued to be important, and the consumption models have encouraged ongoing consumption >> one of the things that stands out is your view that the deceleration is probably too pessimistic. it's kind of a framework fo

ibm, when you told me you liked ibm, i had to contain my laughter. this guy's nuts.mes like the ibms, rip van winkle stocks or do i try to find some of these high-flyers that might be oversold? >> well, listen certainly high-flyers that are oversold that are in the space i said it too i think last week they're starting to perk up. i'm starting to get very interested in those names that have been really beaten up but i also said to you during this crisis i've been in the big boring, kind of big american that names. ibm fits right in there. look what they did? came with a great report. great dividend payer. they pay their dividend. it is safe. it is comfortable. i feel like i'm getting hugged. charles: i hear you. people are hugged in that stock a while it was a straitjacket. >> i agree. i haven't been in it that long. i have not been in it in a straitjacket. charles: congratulations. great call. i have to give you props like that. folks i know you're tired of the insider trading d.c. stuff. they changed the rules. i don't know if it ever changed. tweet me. i'm @cvpayn

they appeared alongside sean maloney at an ibm facility in new york today.ny announced a 20 billion dollar investment in new york's husbands valley region, working on semiconductor chips, quantum computers, and artificial intelligence. just a few days ago, semiconductor manufacturer pledged up to 100 billion dollars over two decades to build a new computer chip factory in upstate new york. both companies credited biden's ships and science act. the bipartisan law offers more than 52 billion dollars in subsidies and tax credits to companies making semiconductors, microchips in the united states. with the economy on top of mind for many voters ahead of next month's election, the president also said this,. >> you have created 678,000 new manufacturing jobs, where -- and we're just getting started. where is it written that we cannot lead manufacturing in the world? i don't know where that is written. that's one of the things that the ships act is going to change. the law that is going to build the future in a proud legacy, not only for ibm, but for the country. >

stocks in the green only with chevron and caterpillar because of strong oil prices and the laggards: ibm and 3m, minnesota mining and manufacturing. they're the biggest drags on the blue chips. treasury yields rise, financial stocks are falling. higher rates usually mean a buy signal for financials as that means these banks can charge more for their loans but not today. maybe this has something to do with it. neel kashkari also said "the big banks need to raise more capital. with market psychology and flashing signal signals, right e trade show. teddy, there's multiple narratives here on the sidelines but the fed has been clear and we're in for more rate tightening and are they working now? >> i think .s i think the sidelines are the place to be for going back for months and we've been talking about it. i mean, the fed has been quite clear in what they intend to do. the fact we don't want to listen or misinterpret what they're saying, we proceed at our own risk. i mean, the adage is don't fight the fed. dictating and telling us where interest rates are going and the market is reacting ac

another big one with tesla, ibm as well.ow do we get to that 3900 >> i think you're going to get to that from certainly some oversold rally coming into play. and when we look at the earnings numbers, the one thing that struck me yesterday and the last couple of days, there's a lot of important things, but stocks are not reacting to the downside you look at some of the earnings reporting we've seen so far p you see stocks moving higher, not only of analysts price cuts but earnings numbers that were not quite as strong as people thought. it seems like we're at a time where the earnings cuts have sort of reset expectations for investors, and investors just did not want to buy ahead of the earnings prints in reference to the stocks coming up i think it's a combination that could be the catalyst. if you look at some of the stocks out there that we find interesting, stocks like schwab, first interstate bank, dyno in terms of the refiners, there's a lot of construction stocks and you have to at least be adding at this point in time

look at ibm as a value stock with very good cash flow. caroline: what has been interesting, over the last couple of earnings seasons, snap has almost dictated sentiment leading into the metas and googles with the advertising model. they have become a bellwether. do you expect them on the upside of the downside? >> you are right, everyone followed them, second quarter revenues were only up 13% and they guided for third quarter revenues to be flat. since then things have improved, they're looking for revenues to grow 6%. they have had challenges as you know in terms of the change in privacy with apple. they have also had competitive issues with tiktok. but you are right, they are a company that will dictate what happens with alphabet, twitter, and meta-in terms of advertising revenue online and have the health of the business is going. caroline: of course you have twitter exposure as well. is twitter going to be anything but the story of m&a? or are you going to be focused on fundamentals? >> twitter is a tough company because they do not s

after the bell, we'll get results from tesla and ibm coming up on the show today, we've got a big interview with alex karp and stephen scherr let's begin with the market and the economy. the federal reserve just releasing its beige book last hour and minneapolis fed president, neel kashkariy, making fresh comments this afternoon. steve liesman here with the highlights and takeaway. >> thanks, sara. a very mixed beige book that hints at some progress on inflation and supply disruptions but far from all clear on the key factors that have been driven inflation you know from the fed's bank districts that economic activity expanded modestly. that's an upgrade from the last report which said it was unchanged. looking at the key sectors there, retail was flat autos were sluggish. travel and tourism up strongly housing weak due to high interest rates low supply manufacturing was steady and it caught my eye because the beige book said there was some using in supply chain disruptions. haven't seen that in a while worth noting, the beige book was early in flagging supply chain problems for the economy

some of these have money the fifth worst performer ibm down nearly 16%. 5.6% yield not long ago ibm spun off the slow growing services and doubled down on a hybrid cloud analytics platform smart. unfortunately the stocks you no longer love, more like hated if wall street assumed gloogle cloud and amazon is slowing, it doesn't matter how good the strategy might be. nobody cares in this market. i think that's too negative. i think it's a great business to be in the cloud but i'm just one guy. is it so dire that we have to worry about ibm's dividend the company has a ton of cash flow and the ceo swears by it but there are safer ways for a 5% return. pretty soon you can get it from the two-year treasury. walgreens down 17% 6% yield i have to admit i expected better of the company given the covid booster shot business but see walgreens gaining very little market share during the pandemic unlike cvs. i think they lack strategy for the biggest threats. amazon, there is nothing special about this chain except there are a lot of stores and amazon is better and it's never a trust. when i was in sa

ibm. let's create >>> welcome to the "etf edge" portion. i'm bob pisani viewers asking how to get action to juicy 4% yields or two-year treasurer rirs and other portions of the treasury market. new products recently launched going a long way answering those needs. talk with alex morris, cio launching a new series of single bond treasury etfs alex, we know about single stock etfs like tesla long/short etf but single bond etfs just launched in august. 10-year, 20-year, 3 month. what do you get when you buy a two two-year bond. >> you get the two-year like buying out in the market but more convenient. issued once a month and roll from one bond to the next giving consistent exposure to that juicy yield you point out today and characteristics of a two-year without doing all the hard work. >> sell the old one and buy the new one so you always have the most recent option to get the most current yield right? the fee here get that clear for everybody 15 basis points. any taxable event that occurs when you sell the old option to buy the new one? >> n

. >> good to see if they stand for joining us your morning mover ibm the stock of a premarket softwarengs and revenue the company raising the revenue forecast for all of 2022 reporting is 6.5% revenue increase from a year ago ibm shares of better than 3%, a quick break and more recruitment for border mules as smugglers ramp up incentives for american teenagers on tiktok in snapchat, florida congressman coming up. >> nothing to cackle about vice president here is to staffers jumping ship, it may get a buzz. stay with us. ♪ another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. as a business owner, your bottom line is always top of mind. so start saving by switching t

ibm.usiness kept on employees through the pandemic, getrefunds.com can qualify you for a payroll tax refund of up to $26,000 per employee, even if you got ppp. and all it takes is eight minutes to find out. then we'll work with you to fill out your forms and submit the application. that easy. getrefunds.com has helped businesses like yours claim over $1 billion in payroll tax refunds. but it's only available for a limited time. go to getrefunds.com powered by innovation refunds. >>> welcome back want get to one more thing transport names outflaerng q4. check out xpo, our mystery chart, lower but up 9% this month. frank holland joins us with why transports could be the "garp" stocks. >> hey there this might be hard to believe but old dominion freight lines, one of the top performing in the nasdaq 100 this quarter, shares up almost 6% as trucking and logistic players continue to outperform the broader market and the mega cap etf of the nasdaq 100 and triple qs transports are not growth stock

so you call in ibm and red hat to create an open hybrid cloud platform.ata is available anywhere, securely. and your digital transformation is helping find new ways to unlock energy around the world. - yieldstreet presents: alternative investing with kal penn and transolder kal penn.lping - oh, the stock market is doing that fun thing again. - hey news from the future, you're going to live through that about 10 more times. (laughs) - oh, it's no stress. i just discovered yieldstreet. they vet investments that don't ride the stock market rollercoaster. - ooh. i think some of my gray hairs just reversed. - yeah. you're welcome. - [narrator] become an investor today. yieldstreet: private market investing. >>> welcome back to "the exchange." americans feeling the pinch adds inflation sits at near 40-year highs, but rising costs may actually prove to be a benefit, yes, a benefit this tax season so robert frank joins us now with more on this story. please take us through how this will benefit my taxes. >> some rare good news from the irs. every year they adjust

that is one reason that president biden visited and ibm facility here in new york incompetency.ws at did the chips and science aqua signed into law the summer, a lot of the allocated billions of dollars to encourage more semi conductor production domestically. that news as a result of chips becoming law, ibm announced that it was making a 20 billion dollar investment over ten years in new york hudson valley. illinois this week, my corona nance that it plans to spend up to a billion dollars to -- over the next two decades to build a new computer chip factory in upstate new york. macron ceo told the new york times at the passage of chips made that investment possible. look, very simple, new jobs, more made in america products, that is indeed good news for our country. joining me now is democratic congressman, pat ryan of new york. he joined the president at the ivm factory this week. congressman, it's good to see you again, thanks for coming back on the show. you just won the and why 19, the new york 19 special election in a major swing district. we talked about it right after you

giant alliances with the might of the government behind them to pet all of japanese attack against ibmompany's no longer innovative-— innovative. the unique advantage _ innovative. the unique advantage is _ innovative. the unique - advantage is a relationship with government. without that, they are not. if this is a really open, free market, they should be eliminated ten or 20 years ago. in should be eliminated ten or 20 years age-— years ago. in the uk fu'itsu is one of years ago. in the uk fu'itsu is of the i years ago. in the uk fujitsu is one of the government's - years ago. in the uk fujitsu is one of the government's top i one of the government's top five it contractors. the government _ five it contractors. the government is - five it contractors. the government is tending | five it contractors. the i government is tending to five it contractors. tue: government is tending to go five it contractors. tta: government is tending to go for large, small number of very large, small number of very large contracts that favoured very large suppliers, often international firms like fujits

of the more important issues on the race, today specifically talking about the economy, here at an ibm factory, he is touting what he says is a real result of one of the big legislative successes that we've been talking about over the last few months, specifically that chips and science act. ibm today, announcing a plan to expand their operations, expand research and development, before semiconductor manufacturing, $20 billion worth, over the next ten years, and another company, micron, announcing $100 billion planned expansion in upstate new york, up near secure cuse. so the president really coming here today, to try to make it clear and model the message for democrats, that this is something we can really run on, at a time when so many americans are concerned about higher prices. he talked about the fact that the supply chain issues really were a driver of the inflation that has created some real head winds for democrats but by making these kind of long-term investments, not just good-paying jobs created, but also dealing with, as he put it, the supply chain, it will begin and end in

in some cases, a lot of companies are suffering ibm, johnson and johnson. and if a dollar continues to serge, it's likely we're going see more of this for american businesses. ok to the australia on a very busy floor of the new york stock exchange. thanks a lot. now let's take a look at some of the other global business stories that are making the news. exxon mobil says it has completely left russia after president putin expropriated its properties. the move from the russian leader followed months of discussions next on says it was not compensated for the assets, which i estimated to be valued of $4000000000.00. a russian court has fine live streaming platform, twitch for refusing to take down what moscow calls inappropriate content content relates to russia's invasion of ukraine to which received to fines totaling a $120000.00. same court has also submitted promotion against wikipedia. large financial institutions have increased their funding to companies responsible for deforestation around the world. that's according to the forest and financed coalition.

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>> ibm is interesting because they had a good number in their last quarter, the second quarter, coming into the third quarter there are concerns about how wage growth will impact the consulting business. they are expected take on a percentage point negative impact -- 8 percentage point negative impact from currency. if you look at their model they generate 75% of their business from software consulting and 50% of the revenue is reoccurring. they are a very high cash flow stock. something your listeners can look at, the dividend is over 5%, italy -- it is only down 13% year-to-date where the s&p is down 25 percent. caroline: what has been interesting, over the last couple of earnings seasons, snap has been dictating leading into meta-and google with the advertising model. they have become a bellwether. do you expect them on the upside of the downside? caroline: you're right, -- >> you are right, everyone followed them, second quarter revenues were only up 13% and they guided for third quarter revenues to be flat. since then things have improved, they're looking for revenues to grow 6%.

i mean, if i lay inside one ass ibm season or ag scandal been back a dime a like, oh it was like, ok again, don't make up america avenue there to begin with. so i've been in it so i need to get a new tele down a back channel. okay, m a r r i m a b and i said, i said i sent it in when the world m o o bernie, immediately destroy it, minute they think. i love it. okay, we'll go live. hello john. sure. to get deleted for dominique. ali la. say in february i had a question. earlier i have seen minima. let them look girl around. i'm put her in the lymphoma residue. calling only the look bad. almost. i laugh food stamp case a bamboo diameter is up girl time on going a actually, danny. i think i believe i have a lease with jumping to the stream when no topic is off the table. i don't think that anybody should be born to privilege to them for a day. we are the subjects of the family plus one person's opinion. but what's your, amplify, your voice? the judicial system in mexico is incredibly weak and it is not just corruption where a global audience becomes a global community. the scariest part

ibm surged in extended trading after sales beat expectations.in the third quarter on strong demand. however, ibm says currency fluctuations would cut full-year growth by about seven percentage points. asml surged after predicting a less impact the restriction of china's access to edge chip technologies. the dutch equipment supplier expects u.s. curbs to affect around 5% of its backlog. it sees sales of this quarter of up to $3.5 billion, which were top analyst estimates. this company fell in late trading after posting a third-quarter loss. the results come five weeks after it warmed over top for quarter due to lower metal prices and higher costs for raw materials. aluminum prices are down more than 20% this year on rising global inflation and surging energy costs. and of course the risk of a ban on russian experts. tune into bloomberg radio, and get in-depth analysis from the databricks team broadcasting live from our studio in hong kong. listen through the app, radio+, or bloomberg.com. plenty more ahead. stay with us. shery: the offshore yuan

ibm.arrator] if your business kept on employees through the pandemic, getrefunds.com can qualify you for a payroll tax refund of up to $26,000 per employee, even if you got ppp. and all it takes is eight minutes to find out. then we'll work with you to fill out your forms and submit the application. that easy. getrefunds.com has helped businesses like yours claim over $1 billion in payroll tax refunds. but it's only available for a limited time. go to getrefunds.com powered by innovation refunds. >>> welcome back time now for the executive recap. three stories you may have missed this morning. credit suisse unveiling the highly anticipated turn around plan today announcing a $4 billion cash raise bringing in the saudi national bank with a 10% stake and laying out a restructuring of investment banking business. the stock down 11% >>> similar story for shares of meta set to shed at the opening down 20% this is facebook's parent company issuing a weaker fourth quarter forecast citing a slowdo

that is why i alluded to the ibm result it surprised a lot of people. it seems where spending work -- will continue, advertising is depressing, consumer tech focused brands will turn out this quarter is my concern. caroline: we are awaiting what is being said in calls, and the press release and on the earnings he talked about the world facing increasing headwinds and -- digital technology being the ultimate tailwind. it is deflationary, have we not brought forward all that spending during covid, or is there still more to come? guest: he is saying the same thing, i've had a few more conversations, both of them have use that. i have found that to be the case. companies during this pandemic they had to spend rapidly to support growth did a lot of hiring. added a lot of short-term costs. as long as the growth was there they did not have to fix that. now that we see the market compress, the economy slow, some of the investments and things like automation and ai need to be fully amendment did -- implemented so the hiring freezes and pullbacks do not slow cust

travelers on there, dow inc, ibm is on that list. they pay 5%. >> they do. up yesterday and had a huge earnings quarter the other day and great news. stu: s&p 500 winners, huntington bank shares. i worked with a guy who was the heir to that. fox is on there. wall green boots, marriott international. coming up, here's a question: are you addicted to tiktok? we might have found your dream job, an influencer marketing company is looking to hire tiktok watchers for a high paycheck and we'll bring that to you. a new patriotic film. roll tape. >> i want you to take it down. >> from where? >> your truck. truck. >> my truck, my flag. >> some people find it offensive. >> what if i find them offensive, you going to take them down? stu: dukes of hazard star had to finance that film himself. said woke hollywood wouldn't touch it. he'll be here. ♪ stu: 12 minutes into the trading session and some red ink. 18 days to the midterm and grady trimble is comparing prices today to just before the 2020 election. coke, grady, are we -- okay, ggrady, are we better off now? >> no,

ibm. let's create. >>> welcome back wall street closing out the first week of the quarter. is ahead. we will get the september employment report and consumer credit we are watching earnings from tilray out before the bell and iphone 14 plus hitting store shelves today. >>> another busy day for the fed. a slew of speeches from officials including neel kashkari who has been vocal in recent days and raf bostic and new york fed president john williams the monthly job report is key to the market right now let's get a check on futures higher by 69 points for the dow jones industrial average s&p is higher by 2 nasdaq is down 22 points now in pre-market our next guest saying growing c chatter of the fed pivot is too early. let's bring in greg branch from veritas financial. >> good morning. >> the s&p 500 this week, greg, gained 4.4%. what is behind the rebound of stocks is this a potential fed pivot? >> it is similar to july the market following the narrative it wants instead of the narrative the data is laying out. yes, there has been increasing talk of the fed pivot like we saw i

but the president is expected to tour an ibm facility and deliver remarks on jobs during his visit. >> new york governor kathy hochul has reminded silent about the killing, growing backlash over the broken bail reform system. what will it take for democrats to address this horrific murder as the country grapples with the nationwide crime crisis. katie pavlich and tammy bruce will join us all of that coming up. >> sandra: biden administration says the sanction policy against venezuela is unchanged after the wall street journal reported the president was gearing up to ease sanctions to allow more oil pumping in that country in an effort to bring prices down here at home. trace, a big hello to you. >> great to see you. hello, everyone, trace gallagher in for john roberts. a spokesperson for the national security council making the statement, follows opec announcing plans to reduce oil output by 2 million barrels a day. experts say the move will likely lead to higher prices at the pump here at home. >> sandra: and we are already seeing the prices on the rise yet again. the president now b

i mean many good cdl gang up is a charming ballet in san milan as ibm, gentle or ag scandal being mackey, dine merlin, cities and stuff like that. okay. let's. oh it wasn't that much. okay. again though my boss up in a day to begin with. so i've been in so i need to get a new dell. i got a bag. okay, m a r k i r a b and i said in window hold on. oh oh bernie immediately roll it up. they think i love it. okay, we'll throw lima, blah blah. wrong, get you all to get deleted for dominique arlia la, saying she had a question with maria. i am saying minima. let them look good. lauren, i'm for to play in the lymphoma residue. calling ali the look bad. almost. i laugh food stamp case. it is a brand retirement of of the some girl time on going a, a, a . d with a flying a flag, but in the occupied west bank reading, the palestinian flag could get you shot or arrested after the also ports of the 900 ninety's between the palestine, abrasion organization and israel bound on the palestinian flag was put on the ground. it's becoming much harder to express any type of support for the palestinian call. o

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ibm. let's create.es quality sleep is vital to your mental, emotional, and physical health. the sleep number 360 smart bed is temperature balancing, so you stay cool. it senses your movements and automatically adjusts to help keep you both comfortable all night. our smart sleepers get 28 minutes more restful sleep per night. so, you're at your best for yourself and those you care about most. and now, the queen sleep number 360 c2 smart bed is only $999. plus, 0% interest for 24 months on all smart beds. only for a limited time. >>> welcome back to "worldwide exchange." let's get a market check futures pointing to a lower open things have gotten better over course of the last 20 minutes. at the top of the hour, implied lower by 200 points. now implied lower by 170 now 185 points s&p by 26. nasdaq down by 77. if you take a look at one key part of the market that many traders and investors are watching closely is the semiconductors computer chip stocks that industry is a focus for tech investors this etf a

we were in poughkeepsie not long ago with ibm investing in incredible jobs.s was the heart land of the manufacturing. governors always believe it could be that way again, she thought that would the case and the region is poised to lead the world in advanced manufacturing, not a joke, poised to lead the world. [ applause ] i also want to thank my buddy chuck schumer, this guy gets things done. [ applause ] close to hometown girl, senator from upstate new york, kyrsten gil brand, she gets things done. when she calls just say yes, just do it right away because you're going to do that away. look, it's a hell of a delegation one of the best delegations in the country and chuck is great majority leader. getting big things done. we wouldn't be here today without him. and kirsten as i said, hometown upstate new york, and you'll be hearing from all these folks in a minute but congressman john katko. where's john? stand up. [ applause ] john is a republican, i like him a lot. i like him a lot. john we've been in congress for a long time and this is how we used to be, w

. >> yes >> so it's starting to remind me of what xerox and ibm and to some extent hp did with their research labs at the height of their power where is they poured monies into technologies and kind of, it wasn't clear whether they were able to transfer that research into something that was going to be market relevant. and that's might be where we are right now with meta. >> john, comparing to an ibm, spending all that money on ai with watton. maybe not seeing the fruits of that again, with meta telling us to expect another quarterly decline, that would make it three. this is the economy moving in another direction. i do want to push back on. core business, optimism, engagement looking better. julia, i understand where 33 see that, but most is blamed on the metaverse pivot. when you look at the margins and the pivot, contracting steadily. in europe, new york american, not to write home about, and reels versus tiktok, 18 hours a day for reels versus 200 million for tiktok is that right? that seems like a huge gap >> well, yes, what they're saying they're making progress i think the ke

tech giant is working to manufacture semiconductors although although new yorkers will remember when ibmower market adding 280,000 jobs for the month. that number better than the 200,000 wall street was expecting and trade, transportation, utilities led the way with the high of the gains and ford is hiking its price of the f-150 lightning pickup for the second time in that many months prices for the 2023 model year will increase $5,000 for a total of $52,000 current retail holders and customers with scheduled orders apparently won't be affected here deirdre, i'll send it back to you. >> contessa, thank you very much let's turn now to our next guest whos db and mongo, and mike volpe. great to see you in studio it's been a while. you have so many software start-ups and you think it will be the larger cap players and not the mega-cap that will be doing the consolidating. >> i think what you see going on in the market are the large players, google, amazon and the players that we talked about a little bit are trying to go up the stack. so they built the clouds and the clouds have computing an