grubhub. ♪ chicka-chicka ♪ >>> more details from apple's call, let's get back to julia boorstin, juliaes, i'm just listening to the apple earnings call getting commentary from tim cook apple cfo on guidance expecting solid year-over-year revenue growth despite significant supply constraints we estimate to be less than we experienced during december but expect the growth rate to decelerate, primarily due to two factors duing march year ago grew by 54% and launched the new iphones during december this year we launched during september quarter he did say they feel good about the momentum of the iphone and expect foreign exchange to have a negative impact on growth and services they expect to grow strong double digits but do expect that services growth to be decelerating from december performance, that is because of higher level of lockdowns led to decrease usage and stock down. >> to get it straight this is deceleration for quarter on quarter correct from march to december. >> yes. >> got it. keep us posted, julia boorstin, thank you. tim cook was talking about a couple technical issues i

julia boorstin has a gut check on the sector for us julia, even meta down 4% yikes. >> that's right,he social stocks hit very hard amid this broad-based tech selloff metta platforms, those shares are down more than 4% now. twitter is down nearly 3%, down about 2.5% snap 4.5% and pinterest nearly 3.5% now, looking over the past week, the numbers are particularly bad for snap, which is down about 16% and pinterest down some 14%. if we take it back a year, all of these companies are in the red. pinterest down the most since 65%. while snap and twitter are both down about 53% metta platforms looking back 12 months down over 17% now, these stocks have way ward in the past on concerns of apple's limits to ad targeting, but today's selloff seems to be about the rotation from growth into value guys, over to you. >> julia, let's get over to meg terrel this morning with another big interview from the jp morgan healthcare conference. hi, meg. >> hi, carl. now joining us is the merck ceo rob davis. rob, thanks for being with us around this virtual jp morgan healthcare conference. i want to start

beaten down by starting with microsoft shares down 5% following fiscal second quarter report and julia boorstin now with the latest julia? >> yeah, the microsoft shares sinking despite the company beating expectations top and bottom line with revenue growing 20% to $50.7 billion and growing earnings 17 cents better than the analyst consensus. the stock has outperformed the broader market is now dear -- down 5% but up 90% over past 12 months of the decline right now seems to be the company didn't show the kind of beat many analysts had been hoping for 93% of analysts did have a buy rating going into earnings microsoft azure cloud division reported 46% growth, a hair ahead of the street account consensus but analyst dan ives says it was lower than bullish numbers looking for 48% growth, dan ives telling us -- -- so analyst said of the sell off the microsoft beat wasn't in the all-important azure cloud division raising concerns the guidance could be more conservative than what analysts were looking for and expect more from microsoft at 5:30 eastern >> keep us posted. we'll bring you any headlines

bring in julia boorstin and senior port follow yore for mia capital management, our trades today. you both. julia, apple a biggy. >> it's going to be a biggy and i think you laid it out exactly right, kelly the two issues here neither conflicting issues on the down side what is the negative implication, the negative impact of the supply contain strain and ship shortages the other part of the equation the fact apple tebnds to be better managing constraints than anyone else in this space pretty much and expected to be significant dmeemand for the ne iphone and new max watching momentum around those device sales specifically since apple isn't giving guidance to understand what the trend was over the course of the quarter i think analysts will be interested to understand whether iphone demand tapered off end of the year or continued to be strong trying to understand if the demand was front loaded as an indication what to expect for the first quarter. of course, kelly, services, increasingly important piece of apple's business watching that as well. maybe commentary around wearables? di

trader lineup, guy adami, nadine turman gamestop is getting in on the nft and crypto markets julia boorstin has more on this. julia? >> reporter: well, melissa, cnbc has confirmed with a source familiar with the situation that the video game retailer is launching a division dedicated to nfts and to cryptocurrencies. our source tells us that the company has hired more than 2 dozen people to focus on these new areas and to build an online platform to buy and sell nfts of virtual video game goods including avitar skins and weapons asking developers to list nfts on this new marketplace. now our source also tells us that gamestop is close to signing partnerships with two different crypto companies to partner on among other things developing games that use the blockchain as well as nft technology saying they do expect to work with a dozen or more crypto companies and potentially invest tens of millions of dollars in these platforms in this next year now the company is at nearly 660% in the past 12 months has been struggling to turn a profit this is one new area for it to focus and to tap into its

i'm carl quintanilla, jon fortt, deirdre bosa and julia boorstin. selling remains unabated today julia has a timeline of buffett's activity in apple coming up. but first a news update with rahel solomon. >> good morning. and here is what's happening at this hour. a record 4.5 million americans quit their jobs in november. another sign of worker confidence and tightness in the labor market job openings fell to 10.6 million but that's still high by historical standards. >>> u.s. manufacturing activity slowed in december and was weaker than forecast the ism manufacturing index dropped to its lowest level since late january, but there are indications that supply constraints are easing >>> input costs for factories posted biggest monthly drop since early 2020. >>> oil prices are rising this morning. brent crude above $80 a barrel opec and allies agrees to remain steady output. >>> toyota was the best selling auto brand in the u.s. last year beat out general motors for the top spot that's a distinction that gm has held for 90-consecutive years, carl appar

new players continue to enter the conversation julia boorstin has that for us hey, julia >> well, john, cnbc has confirmed a source close to the the situation that apple is in talks with major league baseball about it regular season monday and wednesday games. now, these rights are not exclusive. the games would also play on regional sports networks but apple could make a deal to use these local games to keep people hooked on its streaming service, apple tv plus it's worth noting that mlb ratings are a fraction of the ratings for nfl games that amazon has paid for and, of course, a lot more mlb than nfl games. no comment from apple or the mlb on the matter. a source tells us that apple is also interested in other, more valuable sports rights that are up for grabs right now from the nfl. the nfl is looking for a new buyer of its sunday ticket rights which directv owns through the end of next season looking for a partner for its media group a deal that includes digital properties as well as a small schedule of nfl games and mobile distribution rights to nfl games which verizon owns throu

we have not got ten comments bac yet from the other tech giants, brian. >> julia boorstin with that big breaking news. stocks not moving a lot. we'll see what happens julia, thank you very much let's get instant reaction from our fast money friend gene munster. he runs loop, a venture capital firm we'll have you on to talk about the stuff going on before this breaking news, but you just heard it, subpoenas. should -- america cares. should investors care? >> brian, i don't think so i feel like i've heard this story before there's a healthy dose of deja vu and at the end of the day i think most investors have become numb to what capitol hill is doing with some of these big tech companies this is just the latest rev. when we think about the companies, a couple of things stood out. one is, i feel like heard this before and investors ultimately shrug these off. second is, notably absent from that list, i don't think apple was on there, maybe i missed that it felt like it was more related social media platforms i think that's a testimony to how apple's navigated successfully around what's bee

julia boorstin joins us with the details. julia?ify is addressing just now a new interactive ad tool to make its ads more effective and therefore more valuable. so as the music platform whose stock has suffered in the past looks to grow the advertising side of its business and compete more with the likes of facebook, meta and google for ad dollars, there are these new call to action cards they will start to roll out today on select podcasts spotify says this new format drives double the increase in site visits as standard nonclick-ads do. this invites listeners to click shop now buttons or click to learn more about advertisers products when the ad plays spotify says these ads are successful because they eliminate the need for consumers to remember promo codes or sale details and the like and they facilitate more engagement with brands spotify has been doubling down on podcasting in its third quarter report they talked about the engagement with podcasts accelerating as it rolled out the likes of interactive polls and q&as for podcast

julia boorstin is warming up in the bullpen, ladies and gentlemen.ovely right-hander getting ready to come in, throw fastballs. give us the details, next. ♪ ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. make fitness routine with pure protein. high protein. low sugar. tastes great! high protein. low sugar. so good. high protein. low sugar. mmm, birthday cake. pure protein bars and shakes. for every fitness routine. >>> well, a heavy hitter could be stepping up to the plate in the sports streaming wars. apple, and it doesn't get any heavier than that, reportedly making a bid for major league baseball right let's bring in julia boorstin from the bullpen with more on this story hi, julia. >> reporter: well, tyler, cnbc's confirmed that apple is in talks with major league baseball about its regular season monday and wednesday games. now, the rights to these games are not e

let me jump to julia boorstin who i'm told has a news alert. julia? >> that's right. at&t weighing in with an update on its conflict with the faa over the rollout with the 5g service and that 5g rollout after the request of the faa and the airlines at&t saying, at our sole discretion we have voluntarily agreed to temporarily deferred turning on a limited number of towers around certain airport runways as we continue to work the aviation industry. going on to say we are frustrated by the faa's inability to do what nearly 40 countries have done which is to safely deploy 5g technology without disrupting of aaviation services and we urge you to do in a timely manner and we launch services everywhere else as planned with a temporary exception of this limited number of towers. >> that's the word from at&t we've reached out to verizon, as well, to see what their comment is on this issue at&t shares down half a percent. scott? >> appreciate it, julia boorstin and let's get back to the market conversation and the moves stephanie link, freeport fcx, why? >> i owned it most of t

netflix stock popping at announcing price hikes julia boorstin has the details. >> as netflix has more content, it's raising prices before $1 or $2 per plan. the standard plan is going to $15.50 a month the basic plan will be a dollar more expensive, and the premium plan is going up by $2 to $20. netflix says we understand people have more entertainment changing than ever and we're more committed man ever. we're updating our prices to continue to offer a wide variety of options mark mahaney says he interprets this as a sign that subscription additions for the quarter that just ended, the outlook for next year are reasonably robust netflix has demonstrated pricing power. while they have increased pricing about every other year, he knows the number of subscribers has accelerated. >> all right julia, thanks very much. let's trade it nadine, i'm going to turn to you first. obviously the stock moved up on this news. a buck and a half, $2, maybe these just inflation, right? >> the stock was already down 25% from the november highs, that was the time to short it. investors know that the momen

snap getting a downgrade, twitter and pinterest with price cuts as well julia boorstin checking in on the bears. >> well, jon, social media stocks are plummeting on some downgrades snap under pressure, dropping 10% after webbush downgraded the stock to neutral saying we see risk stemming from idfa headwinds. they also see difficult comps from stellar growth in 2020 and 2021, increasing from tiktok also lowering the price target for snap citing the same issues and stressing the risks around those tougher comparisons. goldman also cutting its price target on friday and twitter, those shares are off about 5.5% after goldman cut their price targets on the stock. goldman also cut its price target for pinterest that stock is down about 4% as well now, of all of these social media players, meta is down the least, though. it is still down about 3%, nearly 3%. goldman did reiterate its buy and price target on the stock friday speaking of competition for all of those players with tiktok, just this morning cnbc's parent company, nbc universal announced a deal with tiktok for the olympics giving

let's bring in julia boorstin for why the stocks have been bucking the down trend julia? >> dizzy spite today's sell-off, storks pushed higher discovery, that stock is up about 22% so far this year, also bolstered by an upgrade. viacom is up nearly 17%. this after news last week that cbs and warner media are exploring a sale of their stake in the cw, that's coowned by those two companies. source tell me meaia companies are looking to sell the assets that don't support their streaming initiatives. and the left jersey pieces and any independent players such as amc, they could be acquired by tech giants or bundle together now, in addition to the cw and amc networks, there's starzz, exploring its optioning, though it was prettied day that they will not just the starzz division also a & e coowned disney and hearst tech giants such as amazon and apple, or platforms like roku. this morning saying of all these companies it's the most digestible scaled content there. there's so much speculation what could happen in this case. >>> deutsche bank research analyst brian kraft, it's gr

our julia boorstin explains why, hi, julia. >> well, carl, the future lies overseas subscriber growthkey coming from overseas. now, the company did forecast an overall rebound in total subscriber growth over quarter projecting 8.5 million new subscribers. analysts are less optimistic with fewer, 8.2 million but they did forecast the vast majority would be from international markets. and leverage investing on the squid game growth. it announced will release 25 korean originals this year bank of america with a buy rating on the stock saying with the massive content slate and continued growth in asia we see opportunity for subscriber upside saying its global content investment strengthens its value proposition. we'll also hear a focus on that content investment, weld estimating $19 billion on content this year, up 13% from last year. now, this focus on international comes as netflix's growth in u.s. and canada stagnate the last quarter netflix added 70,000 subscribers in the region and actually lost subscribers in u.s. and canada in the year before that. but it's raising prices in the u.

faa is worried the technology would interfere and asked the industry to hold off on expansion julia boorstinwith the latest julia? >> verizon and at&t rejected a transportation secretary pete buttigieg's and the request to delay the deployment for two weeks after the january 5th scheduled launch date because of security concerns but instead those two telecos that spent $80 billion for licenses in an fcc auction proposed to limit it close to airports for six months the ceos writing in a joint letter that the transportation department proposal would be quote an irresponsible abdication of the operating control required to deploy world class globally competitive communications networks. the two companies disputing claims of risks noting that they have been preparing for years and what they propose is used in france for years the faa responding we are reviewing the latest letter how to mitigate interference u.s. aviation safety standards will guide the next actions. the faa saying the pour level in france is lower than authorized here in the united states so now awaiting a final decision from th

julia boorstin joins us with some ideas this is a very fun exercise, but there's not like a ton of leversan obvious sense for maybe other companies. >> we have to be totally fair this is theory receipt cal ackman tweeted out his admiration, but he also wrote that he's looking at this as a long-term investment opportunity. theoretically if he wanted to makes changes, i have some in mind, one around a lower-cost or free ad-supported version of netflix. we know netflix just raised prices here in the u.s they had to lower prices in india in order to have the service be competitive there, but there is this question whether netflix could go faster, reach more people if it wasn't so expensive comcast, cnbc's parent company, just revealed faster than expected growth of peacock, because it is ad supported at a lower cost tiesing is so valuable live sports and news they have sports, but only as documentaries. we've been talking so much about football this past weekend nfl ratings are so high right now going into the super bowl. there's this question is if you want to make netflix something as peopl

let's bring in our julia boorstin good morning, julia. >> well, jon, this nearly $70 billion acquisitionactivision blizzard is by far micro soft's biggest followed by link e linkedin now here is how activision bobby kotick explained why the combined company does not create monopoly power >> one of the motivations that we had for a partnership with microsoft is the recognition of it's a big market but enormous amounts of competition whether it's ten cent who has resources that are extraordinary and global footprint or sony or facebook or amazon or apple or google or netflix or disney. when you think about the race for the metaverse and for the more influence in gaming in the gaming ecosystem, we have now seen more competition than ever before >> we should get a lot more insight into the regulatory chances of this deal at the top houfrt when the department of justice and federal trade commission are holding a joint press conference they are expected to share their updated merger guidelines. then we'll hear from lena khan directly tomorrow on cnbc's capital exchanges at 10:00 a.m. eastern l

julia boorstin has that for us hey, julia >> well, jon, spotify is taking steps to address concerns thatt's popular joe rogan podcast is spreading dangerous covid misinformation neil young, joni mitchell and bruce springsteen's guitarist pulled their content from the platform and popular podcaster brene brown says she won't release new episodes of her podcast on spotify this is growing backlash after in late december a coalition of scientists sent spotify a letter raising concerns about misleading claims that rogan and his guests have claimed. spotify ceo responding saying they don't want to be a content censor, but we know we have a critical role in playing in creating creator expression while balancing with the safety of our users they are adding content advisories to covid related podcasts helping creators understand their accountability rogan posting a video on instagram saying he supports spotify adding content advisories >> they're just conversations. i think that's also the appeal of the show. it's one of the things that makes it interesting so, i want to thank spotify for being s

julia boorstin explains how and why gaming has gotten so big for these companies and why it's likely w the week started with take. two interact ifr with zynga. shares up 50% and two-two shares down on concerns about the valuation but paying a premium across social platform games are a driver of community and communication and ad dollars projected to grow to $5.75 billion with $2.of billion going to ads in video game content this year. twitter reports that q4 was the biggest quarter ever for gaming conversations with 14% growth in tweets about games last year facebook with more than 900 million people who play games and watch video game content or connected gaming groups on facebook every month tells us every month the app grew 47% and twitch viewing grew 45% last year and second viewed content on reddit last year. amazon bought twitch in 2014 and alphabet with youtube games because ad dollars following that engagement in games and content made about the games. >> julia, thank you. kelly? >> thank you for watching "power lunch. see you on tuesday "closing bell" starts now. >>> happy fr

. >>> julia boorstin sat down with verizon ceo hans vestberg the day is in the u.s., and there is a catchia is here to explain >> verizon is rolling out its 5g service to 90 million people today, but the company agreed to delay the deployment of those new signals near airports to address air safety concerns, but a number of international airlines are still suspending some flights to certain airports now here's what verizon ceo hahan vestberg told me this morning. >> we think it is important that the faa understand and do the right things because with all of the flying, i'm flying, my family is flying so we want this to be in the right way i have assurance from the highest level that this is the main priority for them to work out. >> vestberg didn't share when he expects to turn on 5g around airports and 5g has been successfully deployed in more than 40 countries so he's optimistic that it will get sorted out and he pointsed out the importance for the metaverse. >> i don't understand what government approvals are for if they couldn't figure this out for now. thanks. >> goldman has seen eno

the joint venture with discovery in order to focus on its core wireless and broadband segments julia boorstin the story. julia, i thought on the broadband side it was maybe less good news. >> yeah, the broadband numbers were both slightly lower than expected and also the fourth quarter was slightly lower than the third quarter, but i think that the reason the stock is up today and you now see it up 4%, kelly, really comes down to the growth of those wireless numbers. not only were they more than 300,000 better than expected for those wireless additions, but also if you look at the full year, this was the best year for at&t in terms of those post-paid additions in about a decade. we are talking about a meaningful year if you look at all of 2021. also, i would just point out, kelly, the company reported better-than-expected growth in its hbo subscriber numbers than anticipated, above the range they had given analysts. that is key because even though they're going to be completing the spin-off of warner media, at&t is still going to be owning 71% of that company. so there is exposure there, and

let's bring in our analyst with our own julia boorstin it feels like netflix has come up in that it was easy back in the day when content, no one else was trying to get it, no competitors. has the whole business model changed now? >> i don't think so. i just think as the company has become bigger and the end markets become a little more mature, it's harder to get that incremental subs the most mature market in the u.s., the most competitive streaming market, didn't see a dramatic slowdown. the issue is in other parts of the world. so there is no question you have to spend a lot of none sustain this business and netflix has to spend $18 billion a year, which they're doing. the business model allows it but they have to keep growing it there is no easy margin out of this if you're competing in streaming, you have to spend dollar you have to be moving to spend $10 billion a year or not a player >> even for comcast, our parent company, investorswant to see nbc separate from comcast so they can spend billions and billions and billions on peacock which comcast investors don't want >> remember,

our julia boorstin joins us now with a very special guest. hi, julia. >> thanks, carl.ppy to be joined now for an exclusive interview with new york times ceo meredith coppian, your first interview since you became ceo of the company. some very big news here. i want to get a sense with the stock trading lower trading down on this news, why did this deal make sense for the new york times" and specifically at this price at $550 million. >> well, first, thanks so much for having me, julia it's nice to see you we believe this deal, the combination of news and sports which is a classic one we believe it's going to make "the new york times a more valuable company we wouldn't have done it if we didn't see real growth potential both for the athletic and also for "the new york times. we are incredibly optimistic of the athletic as a propellent to our long-term strategy which i would describe simply making journalism worth paying for for the first direct to consumer digital subscriptions. >> talk to me about how it fits into your subscription goals and the athletic is 1.2 million.

. >> let's turn to viacom cnbc and julia boorstin it is well lower, but up 20% over the past month. >but shares are off nearly 66% from 52-week highs viacom cbs's decline started last month it lost half of its value in five days. a couple of factors precipitated that the ceo issued new shares to raise $3 billion there were a couple of analysts downgrading the stock citing the streaming wars and nfl put its games on paramount plus which said would increase cord cutting and similar things it is up this year on news it is looking to sell its 50% stake in the cw network and on bullish notes, two analysts have a buy rating on the stock, one of them raising subscriber estimates, she says it depends on what the strategy the company lays out in its february 15th investor event. >> jeff, the stock is up 20% over the past month. does that make you want to be a buyer? >> no, kelly to julia's point, she hit the nail on head this stock hasn't done anything in five years. it is down 40% in five years it has $5 billion in cash. it has a portfolio from showtime, to nickelodeon, to bet to comedy centr

joining me now with the story on netflix is our own julia boorstin and cnbc contributor steve grasso e with his zip-up turtleneck blazer >> i went from the woodsman of westchester to this now. [ laughter ] >> julia, kick things off for us >> well, kelly, you know with netflix, what's even more important than this top and bottom line numbers is subscribers. netflix itself forecast that it would add 8.5 million subs in the fourth quarter analysts are more skeptical. they're forecasting 8.2 million subs in the fourth quarter but what is even more important than q4 subs is the guidance that netflix gives for the first quarter. analysts are hoping that there will be 6.9 million subscribers projected, and, kelly, we know that the vast majority the subscribers both in q4 and in q1 will be added internationally. netflix is investing a huge amount in content. they are expected to spend some $19 billion on content this year that's an estimate according to wells. and that would be up 13% from what they spent last year. and then of course they've been rising prices here in the u.s. in order to co

they didn't provide guidance for the current quarter, but tim cook told julia boorstin they're expectingolid year over year revenue growth for the march quarter. let's bring in evercore isi. clearly, these results were excellent, and the market is welcoming them today were there any weaknesses? >> well, i'll tell you, tuf find a lot of weaknesses on the screen the two things you worry about a little bit, ipads were below expectations again, you mentioned there's been supply constraint due to the brunt of that. the other part is, you know, just as you look at the numbers, growth rates are starting to slow down. part of that is apple just grew very fast. so the growth rates are decelerating, but this was a very impressive print and aggregate across the board for the company. >> on that top line growth point, how tight do you think they'll be to economic performance, and if there's a bit of slowdown in gdp in the u.s., do you think that will hit them if it does, do you get a rather big reaction in terms of the multiple >> it's a great question i think you have the potential for stimulus che

i'm carl quintanilla with deirdre bosa, jon fortt and julia boorstin after getting a higher open, thele to hold gains. peloton, moderna, jd.com, some of the laggards, many of the chips continue to outperform dow is close to session highs much julia will look into tech shi shift hiring outside of the the market >>> good morning here is what's happening at this hour falling gas and food prices helping keep wholesale inflation to a gain of just.2% in december however, wholesale prices also jumped a record 9.7% for all of 2021 >>> jobless claims ticked up to 230,000 in the latest week claims have now risen four of the last five weeks, but they're still low by historical standards. continuing claims drop below 1.6, the lowest level since 1973 >>> shares of delta are up around 3% after the company posted strong profits and its highest quarterly revenue since 2019 delta expects that omicron will drive it to a loss in the current quarter. but ceo says that travel demand is on the rise >>> what we do see in the booking data is that president's day weekend forward looks really robust our number

julia boorstin has more with the ceo of warnermedia hey, j.b >> thanks, carl. sayso jason kilar, thank you for joining us on the heels of the at&t report. great to have you here >> thanks, julia >> jason, i want to get to the numbers but the deal is set to close in the second quarter, so my question to you is, how soon could we see the warnermedia and discovery streaming app assets combined and what is this combination going to mean for you as an executive? >> so that's what we call a leading question here in the industry, julia, as you know it's too early to answer that, either of those questions, candidly in terms of what a service could look like or services could look like post close, but clearly when you look at the results of hbo max, which i'm hoping we get into, i think the facts speak for themselves, which is hbo max is a leading streamer and clearly 2021 was a big year for it. >> yes, and you added a better than expected 4.3 million subscribers in the fourth quarter, but what's interesting is we're just coming off of netflix's results and they added tw

approaching the bottom of the hour i'm john fortt with deirdre bosa and julia boorstin intel ceo pat gelsinger at the lectern right now. we expect to hear from president biden before too long. but before that, a news update rahel solomon has that for us. >> i sure do treasury yields are pulling back sharply from recent highs. the ten-year is down 8 basis points to 1.3% and the two-year note has slipped back below 1% >>> the big gathering of political and business leaders in switzerland will be held in may. it has been postponed due to rising omicron cases >>> housing costs were higher in january. the biggest increase in more than two years austin, texas, saw the biggest increase with rent up 40% since last december. the average monthly mortgage payment rose 22% in the past year >>> banner year for partners at goldman sachs and other firms. compensation pool rose 40% to 50% this year. partners in tech and healthcare are reportedly making between 12 and $15 million. go to cnbc for more on the surge in pay and bonuses julia, i'll send it back to you. >> thank you, rahel. >>> let's turn

and we start off with a earnings alert on netflix let's get straight to julia boorstin with the latest numbers. >> reporter: that is right, melissa. netflix shares plunging not on the top or bottom line results because revenue was in line and earnings was a big beat but the stock is now down 18% on guidance for the first quarter now looking at the fourth quarter, the company added 8.3 something subscriber as head of analyst expectations but below the 8.5 million that the company itself forecast. first quarter subscriber and revenue guidance, though fell far short of expectations. the company said it is looking to add 2.5 million subs in q1. that is less than half of the 6.9 million that analysts had anticipating netflix saying that the guidance reflects season two of bridgerton that is weighted toward the end of the first quarter. co-ceo's writing their letter to shareholders saying, quote, while retention and engagement remain healthy, acquisition costs is not reaccelerated to pre-covid levels saying we think this may be due to several factors including the on going covid overhang and

i watched julia boorstin on "tech check" earlier today tell us that international subs are the thingflix has been a tough slay. recently it's down 14% year to date underperformed the market last year and it's up 11% last year, but yeah, the sub editions in media are tough to come by internationally, that's where the opportunity is and that's where the pricing power is they've got a lot of runway there, but it's an expensive stock. it's always traditionally traded at a premium so i'm not overly bullish on the name, i don't have a lot of conviction here, but they've invested a lot on the content library and hopefully that will benefit them going forward and going into the later half of 2022 >> sorry, jason. i didn't mean to step on your toes at the end there. dr. j, you own netflix calls and growth in the u.s. and canada has stagnated and everybody is now focused on international asia subs and the content spend and the pricing increase what do you see here >> well, just like jason said, stock down from $700 just a little bit ago it seems like, scott, now trading 523 and it's up 7 bucks

deidre boss aire and julia boorstin name of the morning, apple popping after another quarter of record-breaking numbers from services to mack m 1 chips we discuss then another quarter of red robinhood, the name rekupg losses briefly below 10 following results. we'll get a breakdown. finally with the nasdaq on pace for five straight weeks of losses, first time since 2012, where could things go from here? well get the market action this hour as well, jon. >> let's start with apple. how could we not in the grown after reporting the largest quarterly revenue ever, sales growing more than 11% despite any lingering pandemic headwinds or supply chain slowdowns. and there were some. the keepo company beating estimates for sales in every product category except ipads with services now apple's most profitable business. bringing in almost $20 billion in revenue and up 24% year over year sump a strong quarter, even the bears are changing their diet. more fruit new street's peter faragu dropping the sell rating on apple. ouch one of the few on the streets. julia you're with us you talked to tim cook the thi

. >>> resetting near the bottom of the hour deirdre bosa with john fortt and julia boorstin how to play that beat-up tech trade in a moment but first time for a news update. rahel solomon has that update. >> here's what's happening at this hour. financials playing heavily on stocks following disappointing quarterly results from some of the banks this morning jpmorgan the biggest loser in the s&p 500. faces a couple years below target returns and quarterly results did top estimates. citi down on higher expenses and weakness at its consumer banking unit and wells fargo with a 4% gain top and bottom results >>> blackrock down more than 2% and assets under management topped $10 trillion cementing its spot as the largest money manager. rising inflation concerns have pushed consumer sentiment back down the early january number is the second lowest in a decade. december retail sales were also down far more than expected. they fell nearly 2% as americans really struggled with shortages and higher prices. and manufacturing output also posted a surprise decline in september. the drop in auto plan

. ♪ >>> welcome back i'm julia boorstin with a news alert on verizon telecoannouncing that it is agreeingoyment of 5g near certain airports this follows a similar announcement from at&t they will enable 90 million americans to experience the speed of 5g but they say they voluntarily decided to limit it around airports. airports have not been able to navigate safely around it. they say thanks to the best team in the industry for delivering this technology. as you herard with at&t, similarly verizon pushing back at the faa at the inability to be able to launch nationwide tomorrow so they're karching out the areas around airports while they do move forward with the deployment of 5g in all the other areas. so, guys, you seaver eye zon shares trading down a fraction of 1%. back to you. >> all right we are still waiting for more detail on how that will work, julia. we will have more next hour. >>> let's get to earnings exchange now, shall we, where we give you the action, the story and the trade on three stocks ahead of results tomorrow. stock number one is bank of america. the bank stocks were

the expectation is 6.9 let's bring in julia boorstin with color on the numbers. julia? >> yeah.re absolutely right to focus in on the forecast for subscribers at 2.86. so low indicate that is netflix is not seeing the rebound in growth that many hoped to see in the first quarter. less than half of the anticipation the letter to shareholders saying we're optimistic. we are improving netflix to please the members grow the share and lead in this time and not just competing against the other subscription services and note that the u.s.-canada region added 1.2 million subscriptions in the fourth quarter growth from the third quarter when it added just 70,000 paid memberships and remember in the quarter before that it was flat wh negative so they are showing growth but it was the largest contributor though it added 3.5 million, a million fewer than the prior year so really interesting to look at the trends here. one think that's interesting is the trend is going higher so it's traditionally it always trenlgds up toward the end of the year they saw that number rise into the end of 2021

helping the nasdaq's correction is netflix shares plunging after warning of increasing competition julia boorstin is here julia? >> that's right. netflix shares down 23% on far lower than expected guidance for the first quarter. netflix forecasting the addition of 2.5 million new subs rather than nearly 7 million anticipated. co-ceo writing to covid and competition and talking about future potential. >> we're building the muscles steadily with the consumer products both like the "squid game" track suits and experiences that are mobile and portable and set them up quickly. obviously the games muscle we are very young on and building. >> we have counted at least nine analysts downgrades on this news the report raised long term questions about the growth potential. concerns that the investment in content is not translating to subscriber additions cutting the price target but maintained the outperform rating saying investors should consider buying the dip back to you. >> kind of a split on the analyst take on this downgraded the stock jpmorgan stuck with it thank you. mike, what does this do to netfl

julia boorstin has more on the group. julia? >> that's right. a volatile day for the social stocks. after trading low esch these foush popped into the green and see meta down fractionally looking at the different players meta is down by about 1.5% twitter, snap both up and pinterest up 1%. looking at the companies' performance this year snap and pinterest down the most. and taking a step back and looking at the 12-month performance over the past 12 months most social players in the red. p pinterest off 12%. meta fatring the best. back to you. >> julia, a lot of these stocks been caught up in the valuation adju adjustment >> it really seems separate. these are all companies that faced pressure and concern of apple's operating system change. that issue impacted the companies tovar riing degrees. also an issue of a pullback in advertising in the fourth quarter amid supply chain constraints but what we are seeing is divorced from that more of this broader shift from growth into value. >> julia, thank you. i'm looking. the nasdaq 100 is positive nasd

julia boorstin has a breakdown hi, julia. >> discovery up nearly 17% with a percent day since set ofsts bullish on the merger with the discovery assets and the potential for the combined company to compete against netflix and disney roku shares down 6%. off 20% in the past week dragged down by coverage with an underweight warning. plus just this morning the company announced the head of the platform business is leaving. disney announcing that the next pixar film will go directly to disney plus in march this is a bet by disney that the box office is not recovering quickly. they grow the subscribers. the head of the distribution said particularly for family films flexibility is the core of the distribution decisions i think we'll be waiting to hear if more of the studios delay or change the release plans for films this spring. >> julia, thank you so much for that in terms of -- we have to get to the market internals mike i might come back and talk about media after the close. >> yeah. we'll do it quig here. pretty healthy internals more stocks up than down volume split is also looking

. >> on netflix which is popping, julia boorstin has it for us. >> shares are moving higher news on raising the subscription service depending on the plan. the standard plan that's the most popular plan now kortss $14 $15.49 and the premium plan is going from $18 to $20 a month. so interesting to see netflix shares up more than 2% and says that the company feels like it has pricing power here in the u.s., believes that people won't drop the subscription raising the prices and additional higher price will help them pay for the content producing both in the u.s. and around the world and netflix reports the earnings next week. >> everybody else is raising prices in an inflationary environment netflix, plenty of demand. no way to grandfather in the current package? this is across the board >> this is across the board. just looking at if announcement they roll it out slowly and will give you time to cancel if you want to but it does seem like that they believe that people are going to hold on to the subscriptions. current members receive an email notification and will happen over the next couple

deidre boss aire and julia boorstin name of the morning, apple popping after another quarter of record-breakingmack m 1 chips we discuss then another quarter o

. >> a tech stock down 10% is snap it is under heavy pressure let's get a breakdown of why julia boorstinr us. >> snap shares down on a downgrade to market important on near term headwinds cutting the price target to $45. the stock off 28% over the last 12 months. cowan citing near term concerns with snap's measurement, targeting and attribution for the direct response ad units and noting that the comps get tougher this year and saying that the valuation for snap does remain high. wilf >> thank you so much. >>> steph, your take on snap >> i don't think this call is the reason why the stock is down 10%. we have known about the ios changes for a long time and have challenging comps in the first two quarters of year stock down 53 pshs from the highs. 16% year to date already i think it is caught up in the growth trade this is a price to sales story and after the pullback 14 times next year's numbers. momentum is great on the upside but it is hard on the downside to support valuation and a valuation call i think it's a no-touch if the growth rotation continues. >> we have snap down 10% there

microsoft and activision, a few winner after microsoft announced it is going to acquire the company julia boorstinls >> that $70 billion price tag is 45% premium over friday's share and sent shares up 26 in trading today. other game makers are rallying on the news. you see take-two interactive shares up after announcing to buy zynga last week. up today and up 48 prsz in the past week. microsoft shares down 2.5% on news of the deal but the news does speak to the increasing importance of video game f franchises and investment in the metaverse. >> thank you probably not the reason microsoft is down 2.5% it is in line with the nasdaq. microsoft quietly nursing a significant pullback now. >> it had certainly a kcorrectin before the deal was announced. so up 50-plus percent last year. gave some back it is about the valuation premium built up i don't think this is a direct reaction to the deal but arguably the weakness in meta is related to the deal strategically. i think the market likes the idea of microsoft turning basically free cash into a good business that fits in with their other gaming assets an

. >>> news alert on meta julia boorstin has it. >> tony shu of doordash is elected to the board of directorss and small businesses saying i have thought it's great to have great tech leaders and tony with experience running a tech company and solving problems this comes as meta fortunatelierly known as facebook pushes bringing to commerce to the platform back to you. >> thank you. >>> stocks rebounded today the nasdaq up more than 1.4 pshs and nearly 7% below the all-time high joining us now is eric johnston. thank you for joining us looking through the recent notes i guess you weren't surprised by the early year pullback in general. give us your take now. still expect further pullback? >> i do. i think we'll see a material sell-off over six to seven weeks and four main reasons why i think this is going to happen. the first one is this is a historic change in monetary policy that no one has seen before the fed bought $4 trillion of assets 1.3 trillion of assets over the last year. rates pinned at zero. the treasury pulled 1.6 trillion from the deposits at the fed this is all completely rever

julia boorstin has the breakdown. >> pinterest shares ending the day down about 9%.ff over 51% over the past 12 months, this after guggenheim cut its price target on the stock this on data that guggenheim has showing users declined for the second straight month. snap, that stock is down about 5.5% guggenheim, though, does have a buy rating on snap, indicating that data shows sequential audience growth in the u.s., saying global audience downloads indicate moderated growth trends wolf research which has a buy rating on snap says the company's's fundamentals are likely to be weighed down by apple's changes in ad targeting saying those trends should improve in the second half as advertisers adopt work-arounds if you look at twitter, it's off about 4% shares of meta platforms are pretty much flat, they were down a couple percent earlier today sara >> humming back like we have seen with the nasdaq >>> the number one performing stock in the s&p 500 today, ford phil lebeau is here to explain why. >> a big move for ford, up almost 12% after the company said when it comes to

julia boorstin with a preview for us hi, julia. >> well, wilf, microsoft's results will be closely watchedy indicator for the broader tech sector. analysts expect the company to grow its revenue by 18% and to grow earnings by 14% as demand for microsoft's cloud business is expected to build on momentum from the prior quarter. now, analysts are watching headwinds around foreign exchange they do see more momentum around cloud deals in the year ahead. while looking for more commentary for how the blizzard activision plays into the broader consumer facing strategy analysts are bullish going into earnings 93% have a buy rating on the stock. guys >> yjulia boorstin, thank you. >> if it is an indicate that it is strong, they're coming from different places as we look toward tomorrow, we have to reflect on what happened today. a wild turnaround. the s&p 500 had its best recovery from its deepest hole since october 2008 and same thing for the nasdaq, which we know was a very difficult period for the market, which raises the question, are we going to be in for this kind of stomach churning volatilit

guys >> julia boorstin, very valuable thank you. up about 2% after hours. a company that didn't give guidance, cook gave julia good color as to what they were seeing, the last two weeks the best for demand, but does bode well for momentum do you expect them to get into more detail as far as the outlook, or apple just doesn't do that anymore? >> they don't do that anymore. you kno, but what we do know is that clearly they're still strong demand for the iphone and what's even more impressive is that we're seeing apple and tim cook doing what they do best, which is releasing a new phone and then driving those margins higher taking advantage of the consistent form factors. the 43.8% gross margin is a fantastic print. so demand is not an issue for apple. particularly for the iphone. >> what's your take on this performance, i know as dan said, we're waiting for the guidance, but you just can't really complain with what they did in that past quarter. >> not at all. the quarter is fantastic you have to be a little concerned you're getting into more difficult compare

guys >> julia boorstin, thanks. mike, i know you watch microsoft as a sort of tech barometer.an 14% for the year >> yeah. and at the recent lows, i have to say, had a 21% pullback, huge outperformer last year to me, it always just is a measure of how much investors are willing to just say look, i'm just going to kind of buy the known quantity, which is this huge behemoth, massively diversifies with monopoly economics in the core business, and happy to ride the cash flows and pay a very hefty price for it one thing to look for, there is a sort of a nonconsensus view that there was a pull forward of demand for microsoft during the pandemic in terms of work from home kind of purchases pc related and software related. maybe look for that as a wrinkle within the results, but in general, i think it's about are we still going to go back to the old reliable tech megacaps in this type of environment are they also going to be attractive as defense in this take >> just a reminder of how high the bar was coming into earnings season netflix, which of course, tanked on friday, down over 20%

julia boorstin has the latest for us >> that's right, wilf.fy is addressing concerns its popular joe rogan podcast is spreading covid misinformation neil young, joni mitchell, and bruce springsteen's guitarist pull their contest from the platform popular podcaster brene brown saying she won't release new episodes backlash growing after in late december a coalition of scientists, medical professionals and educators sent spotify a letter about misleading claims on rogan's show spotify's ceo saying that they don't want to be a content censor, but know we have a critical role to play in supporting creator expression while balancing it with the safety of our users. announcing that they're adding content advisories to podcasts that discuss covid-19 and publishish platform rules to help creators understand their accountability rogan posting a video on instagram saying that he supports spotify adding content advisories >> they're just conversations, and i think that's also the appeal of the show it's one of the things that makes it interesting so i wa

it, despite the last-minute 5g delay, some inbound flights overseas are already being scrubbed julia boorstin >> good morning, joe yes, i am joined by verizon ceo hans vestberg. hans, thanks for joining us in an exclusive interview as you roll out 5g to most of the country. let's start off with this concession the faa to delay 5g around airports. i know you have delayed multiple times. sawty technology is safe and other countries are already using similar technology but the airline pilots association wants more assurances and as joe just mentioned, some airlines are already canceling flights and blaming this deployment of 5g. how long are you going to wait before you roll out nationwide >> first of all, we need the celebrate what we are really doing today. i think it's a great day for the u.s. economy a great day for all of verizon commerce, a great day for verizon, because we are turning unour c-band today more than 90 people in the united states will have coverage in more than 1,760 so that's really what i am excited about. but you are also right, you are talking in some places, in a small