another after-hours mover to the upside leslie picker has the latest. >> hey, melissa.g on top and bottom line beat today, largely thanks to cord cutting 3 million american households cut the cord roku added 8 million accounts in 2018 the conference call is ongoing but moments ago the ceo said the popularity of streaming skyrocketed last year. >> we continue to see growing engagement on the platform with 2018 streaming hours up 9.2 billion year over year to 24 billion. as we mentioned in our shareholder letter, roku users streamed more in the last year and a half than in the entire prior nine years combined. not only are more people choosing roku as their streaming platform, but they are also streaming more than ever >> now, melissa, adding accounts is one thing monetizing them is another roku says this will be the year they reach $1 billion in revenue by scaling the number of households that use their platform ceo anthony wood noting on the call that he believes the company is in its early days of growth roku launched the roku channel in late 2017 to get more ad invent

leslie picker has been speaking with glen.questions glen, i understand filings can be out of date i get it i want to ask you about some names for our viewers. wayfair. are you still a big holder of wayfair? >> we are. we still hold wayfair. the way they are going about running their business and partnering with furniture supply chain is different from the way amazon tries to sell furniture i think that stock doubled since the last time i was on air >> you're still a believer in that business with that kind of run? >> yeah. >> let me ask you about kmchine internet names alibaba. you still own it >> not directly. we own it by owning softbank it's the largest position in the softbank portfolio we love most of what they own. everything is different but it's an extremely important part of the holdings >> are you no longer as big a believer in some of these chinese internet names you have owned in the past and if that's the case, why would that be? >> great question. there's been a slow down that we all know about in chinese economy

here with their takes are dom chu, leslie picker and bill griffeth, and now i know the whole matt kuchar story, so thank you. and so does leslie. >> now we know phil mickelson has ripped calves, too, by the way. >> because you can play in shorts now this will be our golf edition of "rapid fire. >> yes, it will come up later down the line. >> today we're talking about the dollar index, down a little bit, but basically is near two-month highs that we hit on friday. many u.s. companies are starting to feel the currency crunch, namely mattel. shares on friday saw the sharpest drop in 20 years on a weak outlook from, yes, currency fluctuations coke last week also cited currency headwinds this was interesting, because we had just talked about the strength of barbie they were hit by the currency issue, leslie. and if we're just now at two-month highs, of course they'll have an issue with this hanging over it. >> this is an important factor, because according to state street, about 40% of u.s. earnings from u.s. companies are affected by this they have multinational earnings that come in the doo

about this is a good time to be patient and watch and wait and see how the situation evolves. >> leslie pickerk top adviser summit in las vegas and joined by rick rieder leslie, over to you. >> hey, wilf thank you so much. so listening to that testimony today from jay powell, what do you think are the market implications for investors here? do you think there's anything he said not priced into the market? >> not really. not today. but it's continuing down this path that he and all of the fed members have talked about being -- i call it the yoga fed. being patient, flexible around responding to the data chiwhich think the right thing. the reason this is so profound is you have what's a more symmetric fed. the you invest in equities it is commodities, whatever you invest in, the fact you had to worry about rates moving higher that's gone i think it's a big deal and now thinking about do i hold interest rate exposure in the portfolio against the equities or otherwise you can do it and why you don't have that ugly ominous gosh we'll see the discount rate continue to rise. >> there's bit more certa

we've got a news alert on what the smart money is doing with their portfolios leslie pickers in the newsroom-f filings. we just learned the size of pershing square's stake in hilton about 10.95 million shares worth, about $800 million, at least at the end of thequarter the firm also increased stakes in adp, lowe's and united te technologies overall fund managers were quite bearish on financials during the fourth quarter st lee cooperman at omega pared back his management in citi. tiger management selling some of their stakes in apollo global. berkshire hathaway sold some of its stake in wells fargo but largely bucked this trend adding to positions in jpmorgan and bank of america as well as u.s. bank corp, bank of new york mellon but these are as of december 31st and may have changed in the six weeks since. >> leslie picker, thank you. karen, what catches your eye >> anything that agrees with me usually catches my eye so i look at buffett, jpmorgan, bank of america. dan is going to take the other side, the loathe -- >> so mel was doing the air quotes she listed a lot of really smart investors

let's get to leslie picker with the very latest. >> hey, gap announcing plans today to split into two companies. old navy will be a stand-alone company with $8 billion in annual revenue there will be a spin-off of a to be named company that will consist of the gap brand, athleta, banana republic old navy will be led by sonia singall, the current ceo and president of the brand the spin will be generally tax-free to gap shareholders gap's conference call going on where peck is explaining why they chose to make the split >> i feel strongly that this combination of brands will be powerful by bringing them together we can better leverage capabilities and investments across the brands, share best practices and drive efficiencies to create value for all stakeholders muco will have $9 billion in annual revenue, a strong balance sheet and a significant opportunity to innovate and explore new ways to serve the customer quite frankly what's on my mind is to write the next chapter for specialty retail. >> now, gap shares soaring on today's news, up more than 25% the company also reported earnings

back over to you. >> leslie picker, thank you. mike >> look. the stock was trading near a low.a year ago the board rejected the family's bid to take it private at $50 a share and then traded well lower than that and now at the cusp of $50 again and it seems like the market braced for not so great numbers and got better than that. >> high 60s late last year a big tank in november. >> alicia, your thoughts on the retailers, earnings and what it tells us about the consumer here in the u.s.? >> the extent of the retail in malls, you have a problem and as long as you have a good internet presence and also internet strategy we have seen the earnings held up well enough and the mall based retailers, the expectations have become so low that even missing it's not so bad and seeing that here. >> yeah. like the value plays, right? weak guidance hitting big names. and right across the board today for those stocks is this a cause for concern? >> the market didn't really take any of these and start to slam whole sectors so i don't think it's a positive trend. it does show you that we had thi

coming up later, an exclusive you don't want to miss, david solomon will join leslie picker at 3:00 p.m. as we go to break, a look at the movement in treasuries today >>> we're increasing the amount of social validation or feedback you're getting and that feedback is getting tighter and you're getting more addicted. the product was designed to be addictive, but designed to be addictive in a world where, you know -- >> people had something else going on. >> you were only allowed to do drugs in your bedroom at home. now it is pervasive. it is -- you're taking it with you everywhere >> that was sean parker at the i speaking with our hadley gamble. the former facebook president went on to make questions about privacy and security saying it's against tech companies' own financial interest to police themselves as facebook has been -- as facebook has been flirting, jim, with some highs going back to september. >> stock is up 25% for the year. the advertisers, i interview -- actually virtually all the consumer product conditions, and this was the quarter, the tipping point quarter where a lot o

. >>> welcome back to halftime report i'm leslie picker. this is "futures now."ladium hitting a fresh all-time high today. brian, this recent surge has been tied to a shortage in the commodity. you think that's enough to extend the rally into the year >> well, i think that started a few months ago as a shortage, plus demand out of the auto industry it's not like auto sales are auch the charts. what you're seeing is just a surge in all metal prices, anything not fiat currency the stock market suffered some real damage back in december, and that triggered people into anti-fiat currencies we've sit bitcoin rise, silver if you look at it versus gold. stay repressed, they down, i think metals continue higher >> palladium hovering around the key 1500 level do you think it will be able to break that resistance, and if so, in which direction >> palladium exists in deficit it's a byproduct of nickel mining and platinum mining, basically happens in russia and south africa when you get lower global demand, you get a constriction of supply of palladium until you see a huge i

goldman sachs tech conference is under way in san francisco our own leslie picker is there sitting down with ceo david solomon. over to you, leslie. >> thank you so much, wilf thank you for being with us. >> thank you for having me. >> you're elevating people who have a tech focus. how does tech fit into the bank's overall strategy and why are you here today >> i'm here at this conference because it's a fabulous event. fabulous event with a large number of our clients here, over 1200 institutional investors here we're hearing from a range of companies. we heard from alphabet, google chuck robbins is speaking from cisco. i spent some time with sarah fryer, running nextdoor now and i believe spoke yesterday. silver lake was here there's a big collection of clients, but i've come to this conference for years even in past roles, because tech is extremely important in change, disruption it's a good place to come, listen, spend time with clients and get a sense of what's going on i get to san francisco multiple times a year, just generally, given how important the community is out here to our

. >> leslie picker, thank you. >>> we're watching two names making big names here after hours on earningsdon club with one cent beat climbing to nearly $3 billion in the fourth quarter. the ceo said with u.s. credit card debt, our mission to help our customers improve the financial health has never been more urgent. still, the company did issue 2019 revenue guidance below analyst expectations thus why you are seeing shares down over 5% and up about 30% this year. let's switch to devon energy surging on its earnings report after announcing plans to add $5 billion to its stock buyback program and raise its dividend by a penny to nine cents per share and a plan to spin off the canadian assets. devon energy up 6% wilf, back to you. >> seema, thank you very much for that. >>> now, he was once president reagan's budget director but david stockman explains why he thinks president trump is doing damage to the economy by running up the national debt and sparking a trade war. >>> plus, a major airline is partnering with helicopter company blade to make wealthy rso the airport. details coming up. ob

before we go, a quick programming note leslie picker will sit down with saved solomon at 3:15 for an exclusive interview on closing bell stay tuned for that and "power lunch" with tyler and melissa. i'll join them in a minute it begins right now. >> see you shortly, kelly. new at 2:00, confusion in washington but optimism on wall street. lt are the bulls getting ahead of themselves investing in the next tesla why amazon may shifting gears and this one stock is up 300% in 20 is the. how much higher it may go. "power lunch" starts right now >> welcome to "power lunch." stocks are up. but they are well off their highs. the dow was up 2020 points, now about 90 transports are on the move, but a group out of correction territory. now a number of factors are fuelling the trading action today. bullish head loins on talks, one of them, kayla is all over that one, but this d.c. with another chaotic scram to believe prea government shutdown and tail end of earnings. dominic chu with the hit, runs and errors >> second day in a row, it's opt michigan on trade talks with china. while we don't know

at the state of the market >>> and investor david tepper turning up the heat on brent saunders leslie pickerith new reporting and what could happen next and the call of the day takes on cloud play what separates winners from losers jon fortt, see you in a few. >> we'll be watching that. thanks, scott. >>> when we return, the buying opportunities in the faang group. "squawk alley" after a quick eak. the latest innovation from xfinity isn't just a store. it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome. >>> checking where we stand across the major averages. the dow is up 139 points, on pace for the first up session. s&p up 7 tech and consumer discretionary stocks are leading the charts more "squawk alley" in less than three minutes. >>> welcome back faang stocks continue to bounce. down 10% or more from their recent 52-week high. apple and facebook w

4:20 eastern time a big interview, alibaba, executive vice chairman joe tsai sitting down with leslie picker. is he worried about a trade deal or worried about a global slowdown we are going to find out today at 4:20. really a buck and a half above where it is now, but they're want seeing any new return that stock up 17% over the last year let's turn now to retail because if you want to know how the u.s. consumer is doing, there is no better sector to watch we are downtowning down to under armour results the retailer reporting its numbers before today let's tell you what to expect. stacy willits, president, and a cnbc contributor you have been basically unkind to under armour. it has disappointed investors. do you expect any different today? >> i don't here. i think we've seen under armour go through a phase where they've cleaned out their inventory. their inventory is under control here however, if you look at the quarter, they were still incredibly promotional, and the story is that, hey, they're not going to be promotional going forward, and they're going to increase their operating marmi

leslie picker with the story. >> hey, sara pinterest reportedly filed confidentially for an ipo withs by "the wall street journal. they're citing people familiar with the matter but this would put pinterest in line with uber, lyft, slack, a multitude of unicorning filing for ipos according to the journal, it's led by goldman sachs and jpmorgan and eyeing a june -- late june listing at a valuation of about $12 billion and in line with where they were valued at privately. cnbc is reaching out to sources as well as the company for comment on this news but, again, just the news of these confidential filings for ipos keeps on trickling in, guys. >> thank you forthat stephanie, clearly, we were talking before the break about how the lyft versus uber rush to be the first pinterest is a relatively new tech company that's rushing to list do you think there is enough appetite for all of the guys and rushing to be the first one and jump on this january bounce back of markets >> no doubt that the confidence has gotten better. people feel better investors willing to take on more risk and no doubt

leslie picker is there with avenue capital got a cnbc exclusive leslie >> hey, tyler. thank you so much and thank you, mark, for joining us today so obviously, everybody is talking about powell's testimony in front of congress today what do you make of his assessment of the economy? do you buy into the idea that the economy is getting some conflicting signals when it comes to the prospects for growth >> the economy slowed and i think that's what chairman powell is seeing at the end of the day, you know, the real question and i think for you and i and for ordinary americans, how much has it slowed if it's gone from 3% to 2%, then really what's happened is the economy has contracted by 33%. right? so you're still growing. everybody's worried about a recession. i don't think that's happening at all i do think you're going to have slower growth and what that means is, at least for most people, you're going to feel that it's not going to feel as if things were as good as they were last year. it's just going to be slower. >> what does that mean for the markets if it's a down

let's bring in aaron and leslie picker is here, as well, to talk especially about the 3g ownership anglewhat went wrong with kraft heinz? >> well, i think -- well, what happens yesterday makes it official that kraft heinz strategy of the radical cost cutting doing for years has failed this is really the 3g playbook to take over famous brands, wring efficiencies out of them and sales fell for six quarters in a row after the cost cutting because they were underinvesting in the brands and in marketing and innovation and now, you know, they're paying the price. >> i always, aaron, thought it was interesting that berkshire hathaway was involved. it is important to have discipline but not the kind of warren buffett story right? he likes great brands because they're great brands and should be able to grow and thrive and not necessarily because you cut expenses down to the bone, right? i don't want to -- i hate to ask you this but what do you think he's thinking? >> i will you will ask him on monday. >> we will, yes. >> it would serve well to give an explanation of what he thinks went wrong, why

it's time for rapid fire here with their takes are john fort, leslie picker.etball story we were just discussing. nike has been the official shoe of duke basketball for three decades, that partnership may be under a little strain. this is 30 seconds barreling into the game, he suffers a knee injury, look at his left foot, his shoe tore apart against north carolina people had paid huge amounts to watch this game, to be there the cheapest ticket last night was the same as at the super bowl is that right? >> yes >> obama was there >> he's sitting in the second row, he says his shoe broke. >> how unusual is this >> it happens every once in a while this guy is a freak of nature he would be the second heaviest player in the nba. and he jumps more than anybody he's just a freak of nature. >> people say he's the next lebron >> what he's done on the court no one has seen before >> him blowing through his shoe shouldn't concern us i'm not concerned my nike is going to fall apart. i think everyone is completely freaking out this guy will break backboards, but we don't ne

kraft down 65% since withdrawing the takeover offer and unilever is up 10% >>> let's get to leslie pickerte. >> thanks, jon here's what's happening. producers of fox tv show "empire" releasing a statement saying they decided to remove jussie smollett's role from the final two episodes of the season this after he was arrested and charged with staging a hate crime attack on himself. he was released on a $100,000 bond thursday. >>> house democrats introducing a resolution to block the national emergency declaration the president issued to fund his long sought border wall. speaker nancy pelosi says the house plans to vote on it on tuesday. >>> a moscow court extending detention for american paul weiland who was arrested in december for alleged spying the he arrived under escort by a masked man, will be behind bars another three months pending investigation. >>> a rare 1997 michael jordan nba trading card set a record as the most expensive basketball card eversold on ebay. it sold at auction for a whopping $350,000. there were only ten cards made that's the cnbc news update this hour back to "

before we go, a quick programming note leslie picker will sit down with saved solomon at 3:15 for anview on closing bell stay tuned for that and "power lunch" with tyler and melissa. i'll join them in a minute it begins right now. >> see you shortly, kelly. new at 2:00, confusion in washington but optimism on wall street. lt are the bulls getting ahead of themselves investing in the next tesla why amazon may shifting gears and this one stock is up 300% in 20 is the. how much higher it may go. "power lunch" starts right now >> welcome to "power lunch." stocks are up.

. >>> mean time, leslie picker has news on herbalife back at hq. >> some explosive allegations aboutom dow joins remaining he made comments about skirting internal accounting rules caught on tape by an employ, and that recording is reportedly now in the hands justice department which is investigating whether herbalife violated foreign rivalry laws, the dow jones says gudas resigned as ceo last month and people familiar with the matter in this report and herbalife has been called and we're efforting a call to gudas as well. back over to you. >> the drama never ends for herbalife. leslie, thank you. >>> let's send it over to sue herera back at headquarters for a cnbc news update good morning, sue. >> good morning, sara, good morning, everyone. here's what's happening at this hour european commission president jean-claude junker telling the british prime minister theresa may the eu will not reopen negotiations on the brexit withdrawal agreement this from the chief commission spokesperson >> president junker underlines that the eu will not reopen the withdrawal agreement which represents

leslie picker is at the top adviser summit in las vegas and joined by david rubenstein, coexecutive chairman>> hey, wilf, thank you so much. david, thank you for joining us. >> my pleasure to be here. >> president trump tweeting a little bit ago that the china trade deal is an advanced stages do you believe they get there? >> i think there'll be a deal because i think both sides want a deal i think the chinese recognize it's important for them to get the economy in the shape to a deal and i think the americans are ready for a deal, too. i think a deal gets done. >> is it a deal that america needs to see >> i think it's going to be a deal that everybody will like. no deal is perfect but this is the deal that will not have to be technically approved by congress there will be hearings but with u. u.s.m.c.a. you have to get it approved by congress. >> jay powell, you know him well you interviewed him recently and what do you hope to hear from him this week in front of congressome. >> he's probably going to say somewhat he said before which is that the fed is monitoring the data and surprise peop

leslie picker. >>> we are coming back with the closing -- this is what you promised me in the morningsing countdown. >> you get to do it. >> i get to do it? >> this is when you walk the floor. >> okay. it's crowded here actually we're back after this. at&t provides edge-to-edge intelligence, covering virtually every part of your healthcare business. so that if she has a heart problem & the staff needs to know, they will & they'll drop everything can you take a look at her vitals? & share the data with other specialists yeah, i'm looking at them now. & they'll drop everything hey. & take care of this baby yeah, that procedure seems right. & that one too. at&t provides edge to edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when your patient's tests come back... don't get mad. get e*trade, dawg. >>> welcome back to "closing bell." as we count you down to the end of trading for the week. a strong one, of course. s&p up more than 10% for the week sara just said, financials performing very strongly today overall they have not partic

leslie pickers in san francisco where she is joined exclusively by alibaba executive vice chairman joe. >> thank you investor pessimism and skepticism over the chinese economy whether it's a slowdown, the trade war, the government, different regulations. what do you say to those skeptics about investing in the chinese economy at this time as well as investing in alibaba >> i would say as you have the look at the long term. when's happening is china has 300 million middle class consumers and that's the growth driver, that's the engine for growth over the next ten, 20 years. that number according to the oecd to grow to 850 million by 2030 so if you look at the chinese economy today it is very much driven by consumption. retail sales growth is outgrowing gdp and the business side we're in e-commerce outgrowing retail sales so look at 8% retail sales, e-commerce in the fourth quarter grew 21% and alibaba specifically outgrew total e-commerce by several percentage points last quarter so we feel pretty good right now. >> you are not concerned about a slowdown at all. if there is tension rela

leslie picker with the details >> hi, sara, this coming from a filing today from goldman sachs.ncluding former ceo lloyd blankfein and current chief david solomon related to ongoing investigations surrounding the firm's 1 mdb scandal. they announced this forfeiture provision to their 2018 compensation in a new filing today. the firm also said solomon received $23 million in 2018 compensation, up slightly from the year prior when he was president and coo. blankfein received $20.5 million in 2018, about $3.5 million less than 2017. back over to you guys. >> leslie, thank you very much for that guys, i have just spoken to a background source at the company about a little more detail on this i think the three individuals in question are the former ceo, lloyd blankfein, and two others, mike evans and woody sherwood who had senior positions back at the time mainly this relates for mr. blankfein to last year's pay which necessity just granted in granting that, the board has kept powers to say they can recoup that. also for those three individuals i just mentioned, it involves some of t

leslie picker? >> i have seen "roma."what's happening at this hour chicago prosecutors have charged r&b star r.kelly with ten counts of aggravated sexual abuse after years of allegations directed at kelly accusing the now 52-year-old of sexual misconduct of women an underaged girls. he has consistently denied the charges. >>> hundreds of southwest airlines flights have been delayed as the carrier deals with winter weather and a computer outage. the outage of earlier today and grounded flights for nearly an hour. >>> new york governor cuomo said amazon's headquarters pullout is the greatest tragedy he has seen since he's been in government. commenting on a public radio station he said losing the deal makes him sick to his stomach. he blamed fellow democrats who control the state senate. >>> guys, we are not yet done with flu season. the cdc says 48 states and puerto rico still reporting widespread activity. nearly 8,000 people have been hospitalized this season 41 children have died from flu-related complications. that's t

leslie picker joins us with more. >> she's not someone going to prevent us from -- she came up with theg ask show on monday. so -- >> she came out with bezos, yeah. >> i appear like a nice innocent -- but there is another side. >> you can write for the post. >> maybe one day in the meantime, though, buffett watchers and berkshire experts surprised by a couple of recent changes to the portfolio during the fourth quarter revealed last week in the 13 f filing. as of december 31st, berkshire hathaway dissolved its stake in oracle, noteworthy because that news sent oracle's shares lower, but also because the firm had only acquired a stake in the prior quarter and berkshire is known for holding positions for longer than that also berkshire hathaway paired back its stake in apple sending shares down on the news as well. reuters reported that buffett himself did not sell o, one of s associates did, to make an unrelated purchase berkshire hathaway had been adding or maintaining the apple position each quarter for last three years. of course, that changes things and then there is kraft heinz with

squawk box" on cnbc >> it's time for the executive edge whale watching, as it's sometimes called leslie pickersome of the investing trends of the biggest names on wall street it's scleer that some of the well known hung e hedge funds soured on two industries in particular fangs and financials corvex selling some of its facebook pairing back amazon. dissolving net flick, and omega cutting alphabet even berkshire hathaway, which has been building a massive position in apple, sold some of its stake in the quarter tiger global dissolved one million shares of apple with david tipper and george soros selling out of their stakes completely financials, too, really turned out of favor in the fourth quarter. corvex and each selling shares in large banks like bank of america and citi berkshire hathaway sold some of wells fargo, and then actually added to its positions in jp morgan and bank of america as well as pnc financial u.s. bank corp. and bank of new york me n melon. it's important to know that these positions are as of december 31st and may have changed in the six weeks it gives us a snap shot of

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