you'll recall last week the founder ousted the ceo over the poor results that's it for europe out to john fortte nasdaq with a special guest hey, john. >> hey, michelle thank you for that i'm here back at the nasdaq with bill gurley. you're here with stitch fix. what's your take on this ipo >> well, look, this is one of the most enjoyable experiences i've had as a venture capitalist getting to work with katrina, you just had her on. i think this company is so well positioned in terms of how deeply they understand both the customer set and the product set, and they are using artificial intelligence and machine learning at a level that i think is unprecedented before in their sector. >> dig into that, because, you know, we have all sorts of terms, big data, machine learning, artificial intelligence, algorithms when you have algorithms that get smarter on their own, i think everybody accepts that's artificial intelligence. exactly how deep is the play here, and can you compare it to other companies in benchmark's portfolio that are disrupting other industries >> look, i agree with you. i think tho

i'm carl quintanilla with john fortt, sara eisen of post 9 of the new york stock exchange. s&p, the nasdaq, the russell all hitting record highs the dow is very close to a record of its own. we're in a period of time here seasonally the markets tend to do well. it's been about two weeks since we saw not only intraday highs, but even back-to-back gains on the dow and s&p. >> technology is in the lead with some familiar names dom pointed to paypal, chip makers, technology stocks. the best performing sector of the year continues to plow this market forward deals are also a big theme, and the question this morning is how many of them are going to get blocked. $200 billion worth of deal this is month, according to deal logic. that is actually a record high for the month, and a lot of it they paint in the backdrop of amazons, facebooks, and googles, john, just getting bigger and disrupting industries and leaving companies figuring out the next step. >> meanwhile, this big regulatory question mark hanging over all of that as we see the doj moving to block at&t/time warner we'll se

i'm carl quintanilla, sara eisen, john fortt. coming off the heels of the earnings last night, and the pictures of all the lines at many apple flagships we're cnbc, so let's start with earnings this could be investors outside with all this cheering, because there have been so much doubt, so much fear leading into this quarter. the iphone 8 demand doesn't seem to be there, will they manage with the x, the 8 was strong enough to carry the fiscal fourth quarter into really strong numbers, above what analysts expected, and the x supply appears to be good enough that the guide on revenue is higher than expectations the mid point of the guide >> cfo saying they are quite happy with the production schedule of the x, which has been, of course, a source of much debate over the past few days our josh lipton is there live. just talked to cook a few moments ago. josh, nice pictures of that first customer in line actually, a bunch of customers getting a handshake from cook on their way in >> that's right, guys. you can see the store here is o

. >> ppdai >>> let's get over to john fortt now and get a look at what's coming up on "squawk alley."g on with china today? i don't know singles day. another thing going on that's important to the chinese market, arguably the biggest sales day of the year. is it losing steam is it changing at all? are there things that u.s. technology companies and other companies should go into we're going to dig in coming up on "squawk alley". tting edge university counts on centurylink to keep their global campus connected. and why a pro football team chose us to deliver fiber-enabled broadband to more than 65,000 fans. and why a leading car brand counts on us to keep their dealer network streamlined and nimble. businesses count on communication, and communication counts on centurylink. ♪ what we do every night is like something out of a strange dream. except that the next morning it all makes sense. to power global e-commerce fedex networks are massive, far-reaching and, yes... a little magical. fedex.com slash dream >>> here's a look at the s&p 500. media stocks amongst the best performers don't

i'm carl quintanilla with sara eisen and john fortt on the new york stock exchange.tt galloway, of course, from nyu stern school of business is at post 9. good morning, guys you can guess what we're going to talk about at the top that is acquisition talks sending shock waves through the media world. disney reportedly held discussions to buy most of 21st century fox, increased competition from rivals like netflix and control of hulu both considered part of the motivation for that deal professor, you first on this, and we talked about how it shows flexibility on both fox and disney's side in adapting to a netflix era, right >> yeah, everyone's bulking up, and because when you think about it, amazon and whole foods, facebook and instagram, the greatest acquisition that didn't happen would have been anybody buying netflix five years ago when its market cap was 1/12 of what it is now, and now netflix is creating some strange f bedfellows everybody is bulking up to compete with netflix and to a certain extent with amazon, who's now the second larger spender in original con

i'm at the new york stock exchange with sara eisen and john fortt we have full coverage of this massive shopping event throughout the hour and the affect it will have on alibaba we'll talk to the president of that company, michael evans, that's one you don't want to miss in the meantime, let's get to eunice yuan in shanghai. we'll get to her in a moment eunice, good evening, good morning to you >> hey, guys well, it's just past midnight here in china, meaning that singles day has kicked off and hundreds of millions of chinese across the country are going to be shopping until they drop. maybe not necessarily until they drop, because they are probably at their houses online in their pajamas. we're seeing over the next 24 hours there's going to be a lot of shopping. people are talking about it on social media it's a top trending topic. they are buying everything from smartphones, tvs, dog food one company said they are going to be offering a lifetime supply of chinese liquor for $11,111, that's about $1,700. this year there are more international brands that are taking part than ever befor

i'm carl quintanilla with john fortt, sara eisen at post 9 of the new york stock exchange. a morning for tech, john. >> yes, indeed broadcom confirming its takeover bid for qualcomm the cash in stock offer valued at $70 per share, or $105 billion, excluding debt. qualcomm acknowledges receiving the offer. for more we're joined by a tech analyst at william blair and analyst at rbc capital markets is on the phone. actually, i want to start with you, amit. so, broadcom's side argues, i had a chance to have a few conversations this morning, that qualcomm hasn't traded at $70 a share since a year ago it's been three years since it was at $80, so this actually represents fair value, but we've seen qualcomm under pressure now from apple on the licensing front. a year ago, and before that from china, though it was able to resolve much of that does that argument hold water in your view? >> yeah. thanks for having me, guys i'll say, you know, factually they are right qualcomm has not traded at $70 in a while, since the apple litigation started, and i do think one of the big levers is

i'm john fortt here at post 9 with michelle caruso-cabrera, mike santoli, carl quintanilla, and saraen have the morning off. general electric, meanwhile, slashing its dividend in half. the first cut since the financial crisis, and it's shaking up its core business shares sliding right now down more than 4.5% morgan brennan is at ge's investor day in midtown manhattan and joins us now >> ge cutting its dividend by 50% in what is from a dollars and cents perspective the biggest reduction ever by a company excludeing the financial crisis, but the street expected that that's not why shares are falling right now. why shares are falling, because of the guidance, so new 2018 eps forecasts, a dollar to $1.07 per share, free cash flow $6 to $7 billion, also disappointing, lower guidance and as one analyst just pointed out to me, the $6 billion in pension funding next year is excluded from the disappointing eps forecast meaning, the numbers may be worse than the optics are suggesting so one key driver of that, the rapidly weakening results in ge's biggest business, power russell stokes laid ou

on wall street, and "squawk alley" is live.morning, i'm carl quintanilla at post 9 with john fortt, sara eisen is getting some behind the scenes access to some of the company's new technology we'll hear more from sara in a moment first, though, retailers are on the move, shares of walmart getting close to 98, also shares of best buy and gap. some of these names, court, have had a crazy morning already. >> that's exactly right and it's only going to get crazier. next week is black friday, so walmart shares higher, almost 9% after another quarter of what the company is calling broad based strength so profit and revenue beating estimates. the retailer also raising its full year guidance to a range above the current consensus. u.s. comp store sales up 2.7%. that's the best number in eight years. 13 straight quarters of growth there. now, there's an estimated 30 to 50 basis point hurricane benefit with that stock up on replenishment or purchases after the hurricane, but even without it you'd be looking at a 2.2 to 2.4% comp and that would still be the strongest in years. so walmart's u.s. e-c

john fortt's on assignment upstairs and is going to join us in just a moment big hour today on "squawkey," as we said, an exclusive with oracle ceo mark hurd. we'll get his take on ge, amazon, and a lot more we'll talk with house majority leader kevin mccarthy later, that is a first on cnbc interview, and roger mcnamee sounding the alarm over facebook and google, calling them a public health crisis first up, shares of ge down another 6% today, down more than 42% of the year. john flannery joined us exclusively on "squawk on the street" this morning and made the case where he can turn things around. >> if you go back and look, this is very, very similar to what i experienced in health care i walked in, looked, this is fundamentally a very good business and there's some basic things around operating rigor, capital allocation that make a difference i'm feeling very much the same way again, but i recognize that it's, as i said yesterday, it's show-me time >> for more let's bring in bill george, cnbc contributor, and our senior markets commentator mike santoli is here at post 9 good morning

i'm carl quintanilla with john fortt.ails are stories once again, with online shopping soaring to a record $5.3 billion on black friday alone cyber monday is set to possibly become the biggest internet shopping day in history. for more on that we send it out to our courtney reagan who's at amazon warehouse in robbinsville, new jersey hi again, court. >> good morning to you, carl cyber monday has always been a really big day for amazon, but now that they have the prime day, they are going to have to beat their own record in order for it to be the biggest day of the year for amazon. you can see we're in this fulfillment center in new jersey and it's just one of 75 of amazon's fulfillment centers like this in the country here it covers a million square feet there are 14 miles of conveyer belts running 24/7 thousands of both human employees, as well as robots fulfilling those cyber monday orders last year amazon said 64 million items were ordered on its website. they are not giving a forecast to expect today, other than sayin

i'm carl quintanilla with john fortt.ia boorstin joins us for the hour at post 9 sara eisen is off. a lot to watch today the dow breaking through 24,000, now up, intraday record and strong day for the nasdaq, too getting news john mccain is on board regarding the senate tax bill of course, it is the last trading day of the month joining us, dan morgan, senior portfolio manager. before that, elon with more on mccain >> senator john mccain is a yes on the tax reform bill he had been one of the key undecided votes on the republican tax plan, but he said in a statement today that though this is not perfect legislation, he does believe that it will grow the economy and add more money to the pockets of middle class families this is key for republicans. they also got a boost when lisa murkowski of alaska said she would support the bill, as well, so the only two vocal holdouts appear to be senator ron johnson and senator susan collins, so it looks like at this point they are very close, if not at 50 already, in order to pass this

and "squawk alley" is live ♪ ♪ >>> welcome to "squawk alley," i'm carl quintanilla, sara eisen, john forttthe new york stock exchange. we are moments away from the house ways and means committee set to officially release their long awaited tax reform bill we've already gotten some details, we are going to bring you that live as it begins as we await for the official rollout, let's bring in from washington steve liesman from the white house, with us from washington, as well, labor secretary under obama and with us at post 9, larry kudlow what an hour it's going to be. what a day it's going to be. it's the fiscal and monetary today as we await a fed chair payment. >> theoretically cool. i don't know hold up it's going to work out. quick take from what i gather, it's dribbling in. i like the business side, from what i gather. i don't know every detail, but it's basically what we put together in the campaign two summers ago, lower corporate rate, needed expensing, repatriation those are the basic building blocks we think will be a booming supply side, investment side economy, which is not infl

. >>> let's get over to john fortt and get a look at what's coming up on "squawk alley. eo is going to join us not just to talk about retail, also to talk about augmented reality. they just bought a company to dive into the space in an environment where their gross margins are under pressure ghte be the answer we'll find out coming up on "squawk alley" staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's baseball practice. 8:30? tai chi. yeah, so sounds relaxing. alright, 9:53? i usually make their lunches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life. >>> let's get over to the cme group in chicago rick santelli with the santelli exchange good morning, rick >> good morning. thank you, sara. i'd like to welcome my in-person guest, dr. casey mulligan, professor, ph.d, and one of the co-authors of a turn around on corporate taxes that appeared in the wall street journal.

let's send it out to john fortt with a look at what's coming up in the next hour on "squawk alley. ng, john >> good morning. this is a huge story, broad co e looking to talk out qualcomm does this make sense and under what circumstances we're going to break it wndo for investors coming up on "squawk alley" >>> when we come back, norris mark weighs in on the tech sector "squawk alley"'s up next don't go away. the amazing new iphone 8 is at at&t... and we know you'll love it. because we know you want more. more great camera features and more power. and more than just unlimited data, we give you unlimited plans with hbo included for life. because you deserve more entertainment. and more spokespeople. talking like this, saying the word more. at&t. it's time for more. am i too close? i feel like i'm too close. get the iphone 8 and with all at&t unlimited plans, get hbo for life. only from at&t. throughout my career, i've been fortunate enough to travel to many interesting places. i've always wanted to create those experiences for others. with my advisor's help along the way, it's finally

let's get over to john fortt and look what's coming up on "squawk alley. a show that's going to have a lot of heart cnbc talked to the number two at apple about their heart study and we're going to have the former google executive who's just launching an apple watch band that can take an ekg. 'somg o"sawquk alley" alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. not rebalancing your portfolio. focused on what you love, not how your money will last through retirement. we make it easier to plan for retirement with day one target date funds from prudential. look forward to your 401k plan. >>> it's the season finale of "secret lives of the super rich" and they've saved the best for last >> definitely some of the best views coming up. johnny carson lived in his malibu home for about 30 years and now his former beach front paradise is up for sale for $85.1 mi

. >> okay, i will take it, thank you, rick santelli time to send it over to john fortt and get a looking up on "squawk alley." john >> legendary hedge fund manager ken griffin, founder and ceo of citadel is going to join us. boy, what the markets have been doing this year, the strong start to the holiday season, it will be interesting to figure out what investors should do next that's coming up on "squawk alley" >>> the kardashian backed app has partnerships with nordstrom and h & m. users upload photos or take a screen shot, the program identifies the clothing and suggests similar options from different brands at different price points joining us now, the co-owner, molly herwitz. we were playing around with the app. what did your app turn up? >> yeah, we take inspiration from social media and we bridge a gap between that inspiration and for the user to be able to purchase that item in the moment >> so you took the photo >> and then what came up is dresses of you, tons of different options, different price points, things on sale, showing you everything in one platform you can just tap

i'm carl quintanilla with sara eisen at post 9 of the new york stock exchange, john fortt is at the nasdaqit down with stitch fix ceo katrina lake in a moment bi

i'm carl quintanilla, sara eisen, john fortt.arnings last night, and the pictures of all the lines at many apple flagships we're cnbc, so let's start with earnings this could be investors outside with all this cheering, because there have been so much doubt, so much fear leading into this quarter. the iphone 8 demand doesn't seem to be there, will they manage with the x, the 8 was strong enough to carry the fiscal fourth quarter into really strong numbers, above what analysts expected, and the x supply appears to be good enough that the guide on revenue is higher than expectations the mid point of the guide >> cfo saying they are quite happy with the production schedule of the x, which has been, of course, a source of much debate over the past few days our josh

on wall street, and "squawk alley" is live.morning, i'm carl quintanilla at post 9 with john fortt, sarad the scenes access to some of the company's new technology we'll hear more from sara in a moment first, though, retailers are on the move, shares of walmart getting close to 98, also shares of best buy and

guys >> diana, thank you very much for that >>> when we come back, you're looking at a live shot, john forttng down with mark hurd talking bitcoin, the cloud, ge and more. we'll hear some sound from that. dow off thloe ws, down 45. "squawk alley" continues in a moment this is not a cloud. this is a tomato tracked from farm to table on a blockchain, helping keep shoppers safe. this is a financial transaction secure from hacks and threats others can't see. this is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. this is not the cloud you know. this is the ibm cloud. the ibm cloud is the cloud for business. yours. ♪ ♪ ray's always been different. last year, he said he was going to dig a hole to china. at&t is working with farmers to improve irrigation techniques. remote moisture sensors use a reliable network to tell them when and where to water. so that farmers like ray can compete in big ways. china. oh ... he got there. that's the power of and. parts a and b and want more coverage, guess what? you could apply for a medicare supplement ins