jon fortt joins us from investor day for qualcomm, first one since 2016 a lot from jon throughout the including a sit down with the ceo exclusively in a few moments. we start with tech on a tear, on pace for the best year in a decade, shrugging off mixed earnings concerns. sectors off another record close. the dow is selling off, down 120. buyers beware. some say we're set for overbought conditions when it comes to tech. we talk more about this and the market at large. the chairman of global internet banking, good to have you back. >> thanks for having me. >> how do you put the run we've seen, especially in things like semis into context what's driving it? >> it is amazing, nasdaq up 28%, driven by bigger cap companies, apple up over 60%, microsoft up over 40%, facebook up over 40% to add to the point, semis has been a sub sector, up 58%, driving growth other sectors up 40% give or take, so it has been strong across the board, internet trailing 11% or so try to put it in context, what did we learn in recent quarter earnings as well as what we learned through the year, q3 earnings, you

i am jon fortt, here in l.a.s angeles convention center with shantanu narayen, ceo of adobe how many years have you been doing this in l.a. >> we have been doing it i think almost a decade now, jon. >> long time 15,000 people, a million going to stream it want to talk about announcements you have here. first, i want to ask about guidance a lot of people like it. digital experience, subscription bookings you say up 20% plus, some people were worried about that a month and a half ago after earnings put into context what you were explaining about bookings when you talked about the quarter versus what you gave yesterday. >> thank you for being here, it means a lot to us. as relates to what we talk about at the financial analyst meeting yesterday, first we reiterate macro trends are driving growth across all growth initiatives, unleashing creativity, accelerating document productivity, empowering digital businesses, specifically as relates with digital experience business, we introduced we think a revolutionary produc

jon fortt, back to you >> rick santelli, thank you. >>> after the break.essons for the likes of apple and disney, if they want to take down netflix hulu former head of ntt coen acquisition joins us with that next it was sophie's big day. by the way, she's the next mozart. as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. >>> here is what's coming up top of the hour. avenue capital mark lasry with us for the hour. we talk markets, new opportunities to make money, and elizabeth warren's wealth tax. trades on nvidia, qualcomm and others the call of the day a big one for lyft jpmorgan calling that stock its top pick right now we'll find out if our committee agrees at noon just ten away. we'll see you then >> thanks. >>> meantime, let's get a news update with sue herera >> we have some breaking news now. the jury has reached a verdict in the rog

get e*trade, dawg. >>> welcome back let's get back to jon fortt for more on qualcomm's numbers he has's right, i'm sitting outside their headquarters and ceo stopped down and talked to me about these results the call will start in just a moment he said that he's more confident in the 5g ramp even than he was a quarter ago. the strength of that, you're already getting reports, for example, out of south korea, strong wireless market, that they are ramping 5g faster than they did 4g. q2, fiscal q2, not the current quarter but next quarter qualcomm expects 5g revenues to start ramping. based on the projection that qualcomm has given for 5g in calendar 2020 and overal devices shipped in calendar 2020, it looks like they're expecting 5g devices to be at least 10% of overall mix in 2020, perhaps as high as 20% now he did say they continue to see weakness overall in china and other developed markets mostly because oems are holding back perhaps on launching strongly into 4g devices, keeping powder dry for 5g, working through 4g and holding back some. i asked him about the shape of the curve in

i am carly fiori i am carl quintanilla with morgan brennan and jon fortt a big week in northern californiaom jon in a moment. what a day tons of record highs for stocks and indexes overall. the dow hits an all time trading high, first time since july. we turn to mike santoli with what's happening. >> the big picture in terms of overall market is removal of points trade deescalation, low yields it is happening at the same time where some more emerging consumer tech companies have been punished brutally last month and last week, wayfair, grub hub, etsy, pinterest, beyond meat, yelp struggled. what's going on here is i think some of the real emerging business models are having a reckoning, relationship with the consumer through an app is not enough and essentially after uber and wework debacle, people wonder if the leading edge of consumer tech is worth owning the question now is what it means for the overall market in a sense, it ratifies why amazons and facebooks have the valuations, scale is so important in this area i think you can make the point that essentially we've quarantined the ove

squawk alley" is live ♪ ♪ >>> good wednesday morning, i'm carl quintanilla with morgan brennan and jon fortte president this morning set to tour the mac pro assembly plant with apple ceo tim cook. eamon javers will raise the curtain on that this morning. >> reporter: you're playing "just the two of us" and it is going to be about just the two of them. the unlikely relationship between donald trump, the president of the united states, and tim cook, the ceo of apple cook has spent the past several months cultivating a relationship with donald trump largely, i'm told, by going through the trump family having conversations about technology with melania trump at dinner at the white house. talking with ivanka trump about workforce issues he's cultivated that phone call relationship with the president. i asked the president why he seems to have such a good conversational ability with tim cook the president told me a couple of weeks ago, the reason is because cook is the one ceo in incorporate america who actually picks up the phone and calls him when he has something to talk about. today he is goin

coming after the bell with the street mixed on the stock. 52% of analysts have a hold on the name jon forttout in san diego at qualcomm head quarters with a preview of what to expect later in afternoon jon. >> the stock has been on an interesting run over the past few months of course over the past couple of years it's been through a gauntlet, whether you're talking about broadcom and the attempt to take over there, the legal fight with apple, the u.s. government among others, on and on and on. what we're expecting, what analysts are expecting from this quarter, around 71 cents in eps, 4.71 billion in revenue. this is a company that tends over the past couple of years 100% of the time to meet or exceed on eps. last quarter there was an issue around anticipation of 5g, seeing a particular slowdown in china ahead of 5g, some oems, customers saying maybe we're not going to be as aggressive about this year's launches because we're going to invest in next year's 5g launches but then at the same time qualcomm was able to settle this beef with apple. now we see apple and the iphone doing better th

i am carl quintanilla with morgan brennan and jon fortt at post nine of the new york stock exchange busyket day. we're going to start with tesla obviously, elon musk's reveal of the company's new cyber truck. phil lebeau has more about the window shatter heard around the world, phil. >> and a lot of people are watching that, carl. can't say the unveils from tesla are boring they showed the cyber truck last night, the design had people saying whoa, what is that. when you look at this truck, it starts at 39,900 when delivery starts in late 2021, early 2022 range of 250 and 500 miles right now, analysts are underwe underwell whunde underwhelmed the appearance was met with criticism. colin rush says we anticipate the majority of consumers will not be inspired by a vehicle so different from current norms as for the armor glass windows and failure, here's what elon musk had to say. >> we threw wrenches, literally threw the kitchen sink at the glass and it didn't break. weird reason it broke now, i don't know why >> not the first time a live reveal of a new vehicle hasn't gone as planned. as yo

. >>> time to send it to jon fortt for a look what's coming up on "squawk alley. jon?o of global payments, jeff sloan, coming up to talk m and a and some of the technology pushing in. that's coming up on "squawk alley. with esri location technology, you can see relationships. connections. patterns. you can see what others can't. ♪ there are things we would change about work. and there are things we wouldn't. ♪ when work is worth it. work is worth it. work can be closer to home... pay more... make us proud. careerbuilder. work can work. find your work at careerbuilder.com annoepidemic fueled by juul use with their kid-friendly flavors. san francisco voters stopped the sale of flavored e-cigarettes. but then juul, backed by big tobacco, wrote prop c to weaken e-cigarette protections. the san francisco chronicle reports prop c is an audacious overreach, threatening to overturn the ban on flavored products approved by voters. prop c means more kids vaping. that's a dangerous idea. vote no on juul. no on big tobacco. no on prop c. >>> flight attendants taking a stand agains

i am carl quintanilla with morgan brennan, jon fortt at post nine of the new york stock exchange record all around the board. dow, s&p 500, nasdaq, but we'll begin with news regarding ford forward looks to do apples to apples with tesla. elon musk tweeting a response, quote, bring it on and calling into question the physics behind musks video of the tesla towing the ford f 150. is this really where we are? >> my mom might be watching, i am going to keep it clean, this is a classic measuring contest if ever there was one. morgan, do you know of any woman watching this tug of war with any kind of great interest mary barra is probably not even watching this. this is classic like testosterone driven man versus man type thing. >> the nerd truck narrative lives. the truck will be sold to nerds, right? that's the niche product they're aiming for >> i won't call it nerds, but if you look at the numbers, the number two, two top states for electric vehicle registrations, use that as a proxy for tesla, california and new york. the ford f 150 is the number one selling vehicle in the country in 46 s

and "squawk alley" is live ♪ ♪ ♪ ♪ >>> good morning i am carl quintanilla with morgan brennan and jon fortt nine of the new yorkstock exchange we're starting with disney in focus as shares surge post earnings julia boorstin sat down with bob iger after the call, joins us with more of that important conversation hey, julia >> reporter: well, carl, while disney parks and movie studio division continue to outperform, the real focus this quarter is disney's digital future with disney plus, the streaming service launching tuesday. without revealing any early subscription numbers for disney plus, bob iger told me he does expect the service to get off to a strong start. >> it is ready to go i am glad to say we tested it in the netherlands, we'll talk about that on the call, it was successful. it did not have original content but was well received, not just in terms of number of subscribers but the user reaction to it, very, very and a half -- navigable, great access to our brands and story telling. >> he announced new distribution, a deal with amazon to be accessible on fire stick and deals with s

santoli, david faber, live from post nine at the new york stock exchange carl quintanilla is off, jon fortts on assignment but we're going to begin with wework losses balloons to 1.25 billion in the last quarter. roger mcnamee joins us, along with business inside henry blodget. good morning roger, i will start with you losses at wework, the turmoil continues. >> the thing that scarce me about we work, it could be a trigger of other issues in the market it is huge the scale of investing in unicorns that were i think at best unproven, maybe at worst not real businesses is such that as the stuff implodes, it could take softbank with it. softbank is big enough to trigger all kinds of issues for the market. >> you're scaring people saying it could take softbank with it significant losses, no doubt that's a few steps down the road the saudis are 45 billion in, they're getting 7% deferred return, and then other investors, it is not clearly softbank at risk in the way you -- >> if they blow through enough money, it signals a fundamental change in how we perceive new things going on in the economy >

let's get over to jon fortt with more >> vmware is down off the highs in the after-hours session rightlightly, but revenue beat it came in at $2.46 being versus $2.41 expected non-gaap eps came in at $1.43. and vmware beat in both of its lines of business, license as well as services vmware also noting the strong growth that came from their license plus unearned wempb. it was up 21% or also 13% if you don't count carbon black and i'll be back shortly with dell's results, which are just crossing as well >> thank you very much, john we will come back to you when you are ready with those results. >>> still ahead, oil prices are up nearly 8% since the beginning of october, we'll break down the charts to see whether this crudes comeback is actually for real >>> plus, hormel shares surging after consumers like "mad money's" jim cramer gobbled up spam and other products recently hormel ceo jim snee will break down the company's earnings report, coming up next on "closing bell. thank you. ah, you could say that. so how are things with you guys? great. thank you. thank you, sir. lunch next week

i am carl quintanilla with morgan brennan and jon fortt sirius xm ceo sits down with david faber in anotherc exclusive this morning, that's moments away a ton of news, impeachment, trade, retail. we'll start with this bombshell, schwab in talks to buy td ameritrade becky quick will join us in a few moments. a lot of conversations about what we think the brokerage business is now with zero commissions, how it leads to advisory services and implications around financial services. >> it is best performing stock in the s&p, e*trade the word speaks to the fact there's expectation of more consolidation. what it means for tech startups, names like robin hood and names out there, brought in disruption, now being given a run for their money. >> i don't know why e*trade is the word in terms of more consolidation. you would think that's a big plump turkey ready to be stuffed. >> i think the market expected that name to be first to be taken out. >> often times when these things happen, the next one ends up getting bit up thinking back 20 years to when e*trade was robinhood. they were the new kid on the

i am carl quintanilla with morgan brennan and jon fortt at post nine of the new york stock exchange record as you know by now, up almost 250, yields close to seven week highs >> carl, we have record highs in all three major indexes. you can see behind me, you look at those particular moves with the dow, s&p 500 and nasdaq, we will put stars next to every one, record highs for every one of these indexes, and trade optimism fueling a lot of that you look at sector leaders over the course of the past month that pushed those averages toward record highs, within the s&p 500, financials, industrial, technology up 10% for financials, 9% for industrials, technology up 7%. these two sectors, tech and industrials are close to their own record highs now, on pace for some closes at record levels then if you want to look at stocks within the dow, check out these names, ones more tied to trade optimism or pessimism throughout the course of the last year, shares of caterpillar, 3m, up 14 to 24% for cat. morgan, i point out, record high for apple shares keep an eye on all trade sensitive stocks, driving t

welcome to "squawk alley," i am carl quintanilla with morgan brennan and jon fortt.esting monday morning getting news a few moments ago that the president met with jay powell earlier today, tweeted about that got a statement from the fed as well as the market tends to struggle a bit this morning for some direction joining us, michael puree vis, and pete stall good morning, guys good to see you both >> good morning. >> news from the fed first and then the white house is interesting. what could they have to talk about? seems like the macro -- >> i think it is interesting you listen to any earnings call in the last six months, how many of them are belly aching about cost of capital not hot enough, not low enough there was some belly aching about trade. >> and dollar strength, sure, but the dollar strength has been persistent but hasn't been dramatic not a reply of the 2015 and 2016 which threw earnings off it has been a gradual steady rise that allowed ceos to manage more effectively, at least to manage the street better on that >> do you think spending confidence retur

i am carly fiorina with morgan brennan and jon fortt at the new york stock exchange.highs for the s&p and nasdaq earlier in the session, dow on pace to post the best gain in about a month on the heels of a good jobs number, decent ism bob pisani has more. >> we are starting to break the new narrative out there that we're going to have a slowdown in 2020. remember, the recession narrative have gone away, worries of three, four, five months ago, no more. gdp is 1 to 2% now economic numbers are starting to suggest maybe the slowdown narrative is not a good narrative any more we're taking the edge off the slowdown narrative that's why things are moving up. we not only have a strong jobs market, markedly strong revisions people weren't anticipating then weak manufacturing. but new orders were generally good still 49, above expectations that's what you're looking for, new orders stock market is a discounting mechanism for future stream of earnings represented by the new orders ism not getting worse, that's the key. here's what you need to think about. what will it take to m

am carl quintanilla with leslie picker, mike santoli at post nine of the new york stock exchange jon forttssignment, morgan brennan is in huntsville. the resurgence of rocket city, usa. morgan >> reporter: hey, carl, that's right. with a population of fewer than half a million residents in huntsville, alabama, one could be forgiven if they don't realize how significant this area has been to modern american history. before the 1950s, it was watercress capital of the world. the army moved a ballistic missile program here in the 1950s, into the 1960s. nasa was established the marshall space flight center, began to develop rockets for major space programs like apollo, and that legacy has continued all the way into today. there's something like 400 aerospace and defense companies operating in the huntsville, alabama area today part of the reason this is called rocket city it is very much still a government town. red stone arsenal, the u.s. army post here is its own census designated place, it is the top employer in the area nasa says marshall space flight center has a total economic impact in t

>>> good monday morning, welcome to "squawk alley," i'm carl quintanilla with morgan brennan and jon forttill start with uber. they lose their license to operate in london. regulators citing a pattern of failures from uber that place passenger safety and security at risk cnbc contributor kara swisher joins us to talk about this. >> how are you doing. >> not too bad we will see how the appeals process goes, the big question is whether other cities follow suit. >> it's a troublesome thing. uber has been struggling for a long time in these cities and actually the first thing that the new ceo who came in after travis kalanick did was go to londer to assuage the critics there. it was one of his first international trips and it was very soon into his becoming ceo. so it's really problematic if they don't get these cities straight, especially london which i think is its biggest revenue generator after the united states. the thing is it comes after a couple of really big stumbles including dara's unfortunate interview he did with axios where he seemed to not defend the saudis, but wasn't -- certai

jon fortt spoke down with their ceo last night and is joining us with more on the quarter and that conversation last time we saw $92 a share has been a really long time. and after the last quarter, there were some concerns particularly about the way that some of qualcomm's customers had slowed down the current generation and their purchases and plans ahead of 5g. here is what steve said about that >> what you are seeing in the handset market, you are he seeing china handset oems taking a pause before 5g and they have a tremendous amount of activity in designing 5g devices. and we talked about this in our last earnings call you still see it in this call. of course we said we expect to see it through the entsd of tene calendar year and then an inflection point in the first quarter of 2020. >> the licensing business for qualcomm particularly strong it helps to have apple paying again given the quarter that apple had as well. south korea as we're looking forward to 5g, a lot of people are seeing that as a bellwether because they have a very strong wireless market. it looks like they are ramping 5g

thanks a lot >>> let's sending it over to jon fortt with a look at what's coming up on "squawk alley.ays right now i'm sitting at qualcomm headquarters. their earnings are coming up after the bell, bringing you a preview of the whole tech landscape coming up on "squawk alley. >>> welcome back to "squawk on the street." i'm dominic chu. stocks are trading just around the flat line so far in early action, taking a bit of a breather following this recent rally toward record highs. we are strength in defensive sectors like utilities and also real estate as you can see behind me. one of the best performing if not the best performing group is the consumer staple side of things, now trading less than a percent away from its own record high mark that it hit last monday a big reason why is coty's strong earnings report it reaffirmed its year outlook they are up a whopping 99% this year, the second best performing component in the s&p this year i'll send it back downtown to you guys, carl, at the new york stock exchange. >> thanks so much. >>> when we come back, we'll hear exclusively from airb

time now to send it over to jon fortt for a look at the next hour that would be "squawk alley. jon?. investigation into worker conditions at amazon finds that perhaps warehouses are not made safer by robots. we'll talk to a reporter behind that coming up on "squawk alley. it is nice. his haircut is "nice." this is the most-awarded minivan three years in a row. the van just talked. sales guy, give 'em the employee price, then gimme your foot. hands-free sliding doors, stow 'n go seats. can your car do this? man, y'all getting a hook up and y'all don't even work here. don't act like i'm not doing y'all a favor. y'all should be singing my praises. pacificaaaaa! with employee pricing, get $4,107 below msrp plus $1,000 bonus cash plus 0% financing for 60 months on the 2020 pacifica limited >>> welcome back to "squawk on the street." i'm dominic chu. a yer end rally is picking um some steam with the nasdaq and s&p 500 hitting high highs health care is on pace to close at 52-week highs the best performing group as you can see is the technology sector reversing last week's down trend. it's

. >>> let's send it to jon fortt with what's coming up on "squawk alley. jon? >> hey, david.e leaders are here in town in new york for the first analyst day in four years, leading the pitch that the legal and regulatory hurdles are behind, and time to focus on the technology and growth. should investors believe it? we have the qualcomm ceo steve mollenkopf talking about it coming up on "squawk alley." this is an incredible milestone for 10x on our journey to mastering biology to advance human health. we can imagine a path to curing cancer, addressing infectious diseases, and figuring out alzheimer's. and i believe our team at 10x will be instrumental in making this the century of biology. we're just getting started. together, we're going to do some amazing things. ♪ ♪ ♪ ♪ >>> welcome back to "squawk on the street." i am rahel solomon it is another day of record highs for the dow, s&p 500 and nasdaq composite all three set new inter day highs at the open, but sliding since then health care, tech and financials the leaders. discretionaries taking a hit for retailers and disappo

let's get to jon fortt who spoke with the company's ceo jon?lf, the stock struggling a bit, down not quite 3% on a day when the company is really focused talking about growth ceo steve malakoff telling neme that the size of the market that qualcomm will be able to address will grow in three years >> it goes a dramatic amount in three ears it gives you the sense of how important 5g will be to qualcomm business and the total amount of economic impact of 5g in 2035 will be $13.2 trillion so 5g is going to be an important thing. you know, qualcomm really does not have an opportunity problem. >> and qualcomm's new cfo also breaking out for the first time how much revenue it's getting from platforms beyond the smartphone think cars, pcs, iot $3.4 billion in fiscal 2019, compared to $11.3 billion from phones, guys >> it was a great interview, jon, on "squawk alley" earlier today. thanks for bringing it to us steve, where do you stand on qualcomm and i guess even more broadly, just how big is the opportunity in 5g or have investors gotten their arms ar

time to send it over to jon fortt for a look at "squawk alley. >> watching intuit after earnings a beatre ready for tax season, getting into that with the ceo of intuit coming up imagine a disease is caused by too much of a bad protein, but a company develops a way to actually attack it. what drew me to capital allocation in health sciences was the potential to help many people through investments that help fund medical innovation. my team and i often choose to invest at the very early stages of human trials. investing lets me use everything i've learned as a doctor to help make a positive impact. so that's why i go beyond the numbers. >>> imagine loading up a car with merchandise and leaving the store with it. retail alsos are at an all-time high shrink they said hurts profits they gave cnbc access to how they fight a never ending battle against stealing courtney reagan has the investigation. >> reporter: you're watching brazen retail theft. the suspects so sure they won't get caught, some get aggressive when stopped as this surveillance video from home depot shows. most likely they ar

. >>> let's go to jon fortt with a look at what's coming up on "squawk alley. >> david, we'll talk abouting bits and atoms. the ceo of hp enterprises. the stock down 8% after earnings the ceo of ups joins us with the busiest weeks and months just ahead, that's coming up on "squawk alley. hop. hop. when you shop small you help support your community - from after school programs to the arts! so become a regular, more regularly. because for every dollar you spend at a small business, an average of 67 cents stays in the community. join me and american express on small business saturday, november 30th, and see how shopping small adds up. non-gmo, made with naturally sundown vitamins are all sourced colors and flavors and are gluten & dairy free. they're all clean. all the time. even if sometimes we're not. sundown vitamins. all clean. all the time. is your business still settling for slow internet? well time is money. switch to comcast business now and get a great deal when you get fast, reliable internet. with a 30-day money-back guarantee, installation when it works for you, and 24/7 custom

i am carl quintanilla with morgan brennan and jon fortt sirius xm ceo sits down with david faber in another, that's moments away a ton of news, impeachment, trade, retail. we'll start with this bombshell, schwab in talks to buy td

. >> thank you rick santelli now time to send it over to jon fortt. >> enterprise tech focuses on a busythe sector we have the ceos of auto desk and vm ware live coming up on squawk alley i knew about the tremors. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any

. >>> let's send it to jon fortt he is not here, he is in san francisco, but he still has a look at what's good morning, jon. >> good morning, david a question this morning. should facebook stop running political ads all together well, allen wine traub, chair of the federal election commission says no. but s haan idea about a major change they should make. we're going to talk about it coming up on "squawk alley." make fitness routine with pure protein. high protein. low sugar. tastes great! high protein. low sugar. so good! high protein. low sugar. mmmm, birthday cake! pure protein bars. try lemon cake. >>> welcome back to "squawk on the street." i am dominic chu stocks are trading, energy is pacing the gains the group rebounded sharply off august lows, trading in positive territory over the past three months among names leading it to the up side, halliburton, devon energy, noble energy up by about 4% or more keep an eye on energy. carl, i will send it back downtown to you guys at the new york stock exchange. >> thanks. w 1"squawk alley" is up next. doup30 sometimes, the pressures of today

. >>> speaking of must see tv, let's go to jon fortt with what's coming up on "squawk alley. >> it isit here peter atorten joins us aboheut t latest in the market that's next on "squawk alley." - stand up if you are first generation college student. (crowd cheering) stand up if you're a mother. if you are actively deployed, a veteran, or you're in a military family, please stand. the world in which we live equally distributes talent, but it doesn't equally distribute opportunity, and paths are not always the same. - i'm so proud of you dad. - [man] i will tell you this, southern new hampshire university can change the whole trajectory of your life. (uplifting music) ♪ not much, how about you? >>are you answering my text in person? i am...yeah. >>lol. come on in. this is tech that helps you be there. the nissan altima. now offering the most tech-advanced engine in its class. >>> welcome back to "squawk on the street." record highs last week, sectors considered less economically sensitive like utilities, real estate, consumer staples are outperforming. for the utilities specifically, th

. >>> let's send it over to jon fortt, he has white house coming up on "squawk alley." >> we are goingogy and travel. the ceo of booking holdings, glen fogle, is going to join us and kind of a pivotal time for that industry heading into 2020. that's cinomg up on "squawk alley. it was sophie's big day. by the way, she's the next mozart. as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. ♪ ♪ i've been a caregiver for 20 years. no two patients are the same. predicting the next step for them can be challenging. today we're using the ibm cloud to run new analytics tools that help us better predict and plan a patient's recovery. ♪ ♪ ultimately, it's helping thousands of patients return home. and who doesn't love going home. >>> welcome back to "squunawk on the street." i'm dominic chu. stocks are off their worst levels of the day. consumer focus stocks still outperforming toda