explain to us why microsoft and service now? >> good morning.obviously service now, microsoft, they have reported their second quarter results, they came out and issued some more caution on the guide. i think service now in particular, they saw some deal slippage in the quarter, missed their bookings number. and took down numbers for the second half. so we think they have already incorporated a much more realistic view of the macro environment, particularly with service now. as we get into the july quarter, companies whether that's salesforce or snowflake, you know, we do see some risk that some of these issues that impacted microsoft and service now could cause some issues and drive a reset to their outlook. >> and so, give us a sense of infrastructure security we're showing some of those stocks right now. where is the opportunity now and then also on the flip side, where do you see the most risk in this environment? >> yeah, so one of the areas that has been a big topic of conversation among investors is cloud consumption models so you have co

microsoft has been shopping. management a newer management team increased significantly the amount that the company was acquiring. they've been constantly looking at possible acquisitions and they started buying more and more and putting out that they were a successful serial acquirer and then they bought cirna -- i'm sorry, they bought nuance in the health care space. they bought activision in the gaming space and they're likely to continue with more. what are they going to do? first of all, i think that it's going to be a lot more small acquisitions because the company is looking to easily add on the whole build versus buy decision and looking where they can to be able to buy the assets especially at a good price that can accelerate their coming to market you're seeing a lot of that already within the a.i. and cloud space where they're making acquisitions there, and you see them in the gaming space as they're buying game studios. microsoft has aspirations with microsoft game pass to be the netflix of gaming in

microsoft office, right?ions to the cloud, as microsoft's other productivity softwares need it, how usable is that in other people's clouds? it's not as easy as amazon and google want it to be, but at the same time, you know, microsoft's making it easier for smaller european cloud providers so that they get in the good graces of european regulators. who as we know, are quite aggressive so, this is the game of playing advantages and not being a monopolyist or take unfair advantage of your legacy background we see playing out again and again. >> that's right. i don't think microsoft really cares what amazon and apple thinks about this. arguably, the regulators, if it does benefit the smaller cloud providers in the eu. where it's been hit by regulatory fees in the eu, this is sort of a hat tip to them saying, we're helping out the smaller guys >> sand he's done a good job remaining teflon. >> keeps his head down. >> he's been pretty tough. >> guys, when we come back, crowdstrike beats estimate but has lost quite

he points out microsoft $300. last night at this point you >> now he says these levels often have levels of support or resistance. microsoft now nice floor underneath it. this is really a crucial level. they're worried about that last quarter. you know what, that proved to be a nonevent. you can see stocks coming up against a series here including the 300 level as i mentioned and 310. it ends up being much easier for microsoft to make a run to our long term target around. you bet you ski daddy. $379. while apple, microsoft, tesla have hurdles to jump. >> however, as the week gets so bad the five day average goes back below the 13 day. she says all bets are off. bye, bye, bye. at least they're charged long term. i think she's got a point. i want to speak to barbara. >> hi, jim. thank you for taking my call. >> my pleasure. >> i have a question regarding the 3m merger supposed to be completed by august 30th. >> i have to reling quick. there's a page single space document. >> i'm sorry. let's do this. i'm not a fan o

when the activision deal was announced microsoft is taking its time to get that deal through. they're giving themselves 18 # months to work with regulators to make sure the i's are dotted and t's are crossed to make sure they can buy the company amazon, despite the regulatory head winds and talk from the ftc and doj about m&a activity in big tech, they're going through with acquisitions, closed mgm just fine and they just announced a couple other acquisitions so, look, it could still happen, and big tech is still moving forward. and, again, gaming is such a small part of amazon overall, and so they can also make that argument, like, you know, this is not a -- this is more of an add-on, the same kind of argument microsoft's going to make as well. >> that's why i think it's important for us to try to focus investors on where the opportunity is in gaming, giving these shifting dynamics. we were talking a couple weeks ago about unity ion source app loving, trying to interrupt that candle lit dinner breakup, that engagement, and get this but theoretically, it's about combining tool

and microsoft trends on trusting, we invest more than $20000000.00. we have an investment of more than $20000000000.00 on cyber security for the next 5 years. we have more than 100 global certification on our cloud, more than any other cloud provide that out there in the world. but also we want to have not only that that, that as and see we also want to comply with the look at policies and those. and this is why we also are the only cloud provider today that we have acquired the n. i a national information assurance policy certification from the national cyber security agency. and when we think of data centers, we don't think of data centers in the desert. it is going to require a lot of energy to keep it. cool. as you know, that computers need to be pulled down. so why choose cutter and isn't that going to be detrimental for the environment and very cost heavy microsoft data centers. i've been on the highest standards, i'm sustainable in any country in the world. so definitely our data center has been cut that will achieve what everyone 93 percent mo

>> i added to my microsoft personally last week right after the earnings. i was going into earnings and expecting microsoft to say, we missed earnings by x amount, because consumer demand wasn't what we thought it would be. instead, they basically said that we expect to do more of the same and basically reiterate how earnings production that we had three months ago and expect the next fiscal year the next four quarters to see something like $100 billion in cloud revenue that is already on the books. i have to imagine that they are projecting it out. to me, microsoft being as big and impactful as they are and saying that they reiterate the same guidance that we had three months ago at a time when the market is supposed to be kind of soft, it tells me what we are likely to see in the next 6 to 12 months in some of these larger. >> microsoft has about 10%. good job on your timing. you very much for joining us here. what do you make of microsoft or any of the data points that malcolm brought up? >> the cloud with microsoft is an area and i don't blame for makin

you have to remember microsoft obviously has a big enterprise business itself. so if you have the choice as an enterprise to go with zoom or microsoft i think the competition for zoom there is very stiff >> all right frank, thanks. and finally, macy's, the retail giant also having a tough 2022 with shares off 28% this year. been a tough go for names in the retail space as inflation continues to impact consumer spending behavior. cnbc's courtney reagan joins us with the story we were just talking about back to school. how's macy's positioned with that and everything else >> back to school is an interesting season because it is the second most important season for retail when it comes to sort of the volume of what gets sold. if you're a player like macy's, you're selling less of the stuff you need right away like the crayons, the pencils, the calculators and more of the clothing and that tends to come a little bit later when you're talking about spending so yes, we should give some more early indication about back to school but i don't know that it's fair to expec

i know microsoft said they will recognize the union. what does that look like?d never run an organization that has had unions in it. this has been compensated fairly in order to do great work. just what that relationship looks like, what it would mean if microsoft was able to close the deal. >> you can watch my full interview with the microsoft game acl bill spencer coming up at 9:30 p.m. eastern time right here on bloomberg television. that doesn't for this edition of bloomberg technology. john we will join us to talk about the latest avalanche and the crypto downturn. ♪ how will your business adapt to change? you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. millions

exited stakes in amazon, dell, microsoft.pple loses david tepper as alphabet as well as in alphabet and micron and added to the stake in meta. tiger global, coatue sold off many tech names to stem losses in performance during the quarters and for the first half of the year. elliott, which had pushed for changes if you recall at twitter a few years ago, interestingly dumped exposure during q2 shortly after elon musk announced p announced plans to buy the company w he don't know if they hold beneficial exposure in derivatives and so forth they did get out of that exposure during the quarter. michael burry sold out all of his equity positions, including meta, alphabet, warner bros. and discovery and apple. one standout was viking global which went on a buying spree, at least double stakes in meta, block and take two during the quarter. now, important to note as always, these positions are backdated to june 30th they have likely changed since then after so much has mapped in the market this summer, guys so interesting to look at

apple and microsoft and alphabet and amazon down.wn quite a bit more you see it is down 4.5 chip makers among the laggards marvel sinking 7% after guidance on nvidia. cloud and enterprise names also lower. d ducusign and adobe also down let's get to tyler mathisen with more >> the justice department released the redacted affidavit from the mar-a-lago search earlier this month the document cites evidence of obstruction of probable clause of classified materials and taken and stored in unsecured locations at former president trump's residence and club >>> tonight on the news, a breakdown of the redacted search warrant and affidavit and mr. trump's reaction on social media. >>> moderna to sue pfizer and biontech it used its technology in creating the covid-19 vaccine. moderna is not seeking to keep pfizer's vaccine off the market. they cite the ongoing need for access to covid prevention. >>> massachusetts is set to follow in california's footsteps and ban the sales of new gas powered vehicles beginning in 2035 the law aims to reduce gr

microsoft failed this is what we have again happening, the race, google, microsoft, you're going to haveeta, apple, so it's a four-way race there you're going to try to have amazon in there. not wanting to leave out the alexa platform and what they've built with their shopping platform in ar there's a chance someone in their basement is making a really sleek, cool headset and all the software to go with it but how does that not cost more than a thousand dollars, right >> you seem skeptical. >> i'm going to say no. >> what do you think oculus was an acquisition >> it was made in a basement, oculus >> it's harder and this is require billions of dollars in meta's case $10 billion a year not necessarily the hardware, but maybe when you talked about the systems like it being the open web someone is creating the technology for the interoperability >> microsoft talks about that and believes there should be interoperability microsoft, go figure, focus on the enterprise and that figure i put up from idc showing the enterprise customers for this, that's where microsoft is playing right now. they d

microsoft had its own dire warning saying small and medium businesses are spending let on i.t. and warning of a "deteriorating pc market starting in june." apple told and opposite story. cook saying the company couldn't even make enough macs to accurately test pc demand. the other hand, demand strong for high-end consumer with apple expecting iphone sales to remain strong and contribute to revenue growth in this tough quarter ahead. meanwhile, all companies with the exception of amazon warning about a softening advertising market microsoft said advertising took $100 million hit last quarter and we know how bad things are for meta struggling to monetize that tiktok competitor reels andforeign exchange the real one to look out for. it isn't expected to ease up until next year. bad news for countries dollar is strongest like ush and japan hurting growth for things like apple services business and microsoft's cloud growth don't be surprised if we see price increases. jon, back to you. >> thanks, steve. >>> we'll steek peak jen elias a moment. >>> and spoke to ceo pat gelsinger frid

that's why alternately in this market name's a gap or amazon, microsoft. those are some are favorites based books and example of a company where, you know, they have to really get through that transformation to the metaphors for investors to leave the debt to be successful. interesting shot, get your insight daniela's the managing director of what. thank you. there it is in new york. thanks so much for joining us on counting the cost about so i'll show you the sleep get in touch with us by treating me so underscore rahman. and to use the hash tag h a c t c. when you say or drop us an email, counting the com, that's out there a dot net, that's our multi online account. is there a dot com slash ctc? that'll take you straight to our page, which has individual report links and in time episodes to you, to catch up to the tradition of counting the come to i'm so he'll run from halting . joining us. the news is next here on algebra. ah ah. the latest news, as it breaks, doctors here tell us that they're desperate to get more antibiotics and other medical supplies

one thing that microsoft can do and is doing is they are including teams in some of their larger microsoft360 sales. that is a headwind that zoom has to contend with. the one thing i would say is definitely in their favor is during the pandemic, everybody stayed connected using zoom. so the decision-makers are aware of this and probably used it themselves during the pandemic. zoom is very user-friendly. there is an element of friction there that they can lean on. in some of these sales. >> what is the distinction between enterprise and consumer at the moment? is there anything you can do to target that growth? >> zoom definitely has the salesforce focused on expanding an enterprise which was about 54% this past quarter. that is up from 52% last quarter. they are making headway but it will take time. in the consumer segment, the resistance they had was converting freemium accounts to paid account. so they are really having a hard time generating new users but they are doing a good job of limiting term of existing customers. they were not specific about what they are doing their but it is de

i wouldn't say quantitative easing made apple apple or microsoft microsoft.e talked about megacap companies. when you look at strong bottom lines in the tech companies there are opportunities in this market. charles: so a lot of big tech names after the bell. have to ask you about nvidia certainly first and foremost. some preliminary results out there. what are you anticipating? >> i'm anticipating a lot of questions around this gaming miss that the company had announced. the company went immediately from forward p-e ratio of 35 to 50 overnite. so management will have some explaining to do but i would encourage investors look at nvidia's real story which will be the data center. ap 100 gpu drove massive gains. hp-100 gpu coming out this quarter. i expect another couple years after strong streak in the data center. although there will be questions on the gaming miss keep a keen here ear on the hp-100 release coming up this quarter. charles: i have 30 seconds. any other names standing out? i looked at your portfolio, look at some of the names reporting that is

how secure is microsoft network and why should people trust it? thank you for is definitely the 1st thing for anyone to adopt any cloud technology out there is they need to trust them and microsoft runs on trust. we invest more than $20000000.00. we have announce an investment of more than $20000000.00 on cyber security for the next 5 years. we have more than 100 global certification on our cloud, more than any other cloud supply that out there in the way. but also we want to have not only that that, that as a dc, we also want to comply with the local policies and those. and this is why we also are the only cloud provider today that we have acquired the and i a national information assurance policy certification from the national cyber security agency . and when we think of data centers, we don't think of data centers in the desert. it is going to require a lot of energy to keep it cool as you know, that computers need to be pulled down. so why choose cutter and isn't that going to be detrimental for the environment and very cost heavy microsoft d

might be busy, but they're huge microsoft can still do a deal in this space if they want to they're already building tools on cloud for companies like unity, like i think unity recently announced a deal with microsoft and azure. who do i think is going to force their hand if anything, i think what will happen next is unity will start looking at how do we take the data that we're building and gathering and applying machine learning to it and not even just the data, but being able to apply machine learning to automate the creation of these objects. so, for example, if you're an artist and creating characters, imagine being able to take the 3d art and putting it to a pipeline and having it jump right from unity to blender using machine learning that's kind of the future where they kind of automate that work and make the job for the artist or the creator much easier. >> unless you ear an artist, you have a hard time imagining exactly what you just said, but we get the idea. rahul, thank you that sort of inside perspective on how it needs to work is so important. rahul sood. >> thank you

you could the cloud in terms of microsoft, amazon, google does not go away. we're going to have clearly recession, but we believe it's going to be short. and ultimately on the other side of this, that's why we want to be on impact. x starts, in my opinion, needs the best ways to get there's a couple of new developments happening well in the last few days. one was president biden sort of investing through his new legislation into the 70 conductors. and chips also were looking at becoming an apple thinking about moving their operations from china to countries like india. perhaps. i mean, there's a lot of movement. there isn't. what do we have to look out for as a sort of the big game changes? look, i think there's movement, but realistically, probably the next 57 years. i mean, you may be of 34 percent that moves away from china. that's the us in the earth. some other countries, i think, reality is that the supply chain is cemented in asia. if investors are questioning where they put that money when it comes to investment, especially in tech stock, what do tech

when i look at tech, i'm underweight apple and microsoft. here's my issue. don't see these multiples expanding. microsoft is 28 times the coming 12 months' earnings. i don't see those multiples expanding. the price increase from here is going to be equal to the earnings per share increase, looking at fact set, it says the next several years is going to average 12.5%. that's not bad, folks. even within tech f i look at the value space, particularly chips, i look at something like qualcomm everybody knows i like qualcomm. it's 11 times earnings and 15% growth rate. that's where i want to be. that's where the market is telling me i'm paying the right price for the earnings per share growth rate because i can even get the multiple expansion, which is part of my investment thesis in qualcomm by the way, what i just said extends beyond technology to the true cyclicals whether it's frills, financials, and materials, which i think will benefit from the economic expansion due after this slowdown. >> a big day for tech. nasdaq up 2.5%, led by microsoft having the bigg

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i'm tyler mathisen market power players, apple and microsoft, guess what, they make up more than 13% of the total market value of the s&p 500. that's those two stocks alone. that's a record amount of influence. is there a danger in that much concentration? >>> and peak jobs, employers are starting to pull back on employment postings so says zip recruiter's ceo, he's here to tell us if the labor market is cooling and whether workers are starting to lose, kema little bt of their leverage. >> speaking of pullbacks, the dow not having one right now session highs, it's up for a fifth straight day, by the way, and its outperformance today is helped by those strong results from walmart and home depot. the s&p 500 is now up half a percent to 43.17, even the nasdaq has gone green by 16 points, and we have some more momentum names like zoom and moderna under pressure today the retail sector is the standout abercrombie, kohl's, american eagle all gaining, look at this, almost 10 to 15% the retail etf, the xrt having its best month since january of last year. and of course we have to mention bed

is microsoft acquisition of activism starting to look like a bad bet?sumer confidence in the wes ing market falling it to lost point in a decade as lending names scramble and consolidation looms, possible winners and losers stay with us. at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq >>> welcome back to "the exchange." nasdaq is down 1.4%, pushed lower by the under performance of a lot of chip names today the s&p down 0.5% as it looks to try to avoid a four-day losing streak and the dow is down 23 points let's get to bertha coombs for a cnbc news update. >> hey, kelly. trump

i like qualcomm and some of the semis here, you know, and then apple and microsoft are names that havemainstays in our portfolio, but that's our read on the tech sector as it stands right here. >> it always seems to be apple and microsoft and alphabet and maybe to a certain degrees meta though it's had some problems. jim lebenthal, if that's the trade, do you sort of go with the same names in technology, or do you say maybe it's more chip-focussed this time around versus just say apple and microsoft or alphabet? >> well, first off, i want to thank jason for bringing up qualcomm he knows that's one of my favorites as well, but i'm answering your question, you know what i'm doing with tech first off i'm slightly underweight to the market weighting as per the s&p 500 what that means though is i'm still about 23% in tech, so it's a meaningful portion of my portfolio. i'm in the what i consider the value-oriented portion so that's qualcomm, that's cisco systems and then i have some faang names well underweight the market weight i've got microsoft, alphabet and apple, but my overall underwei

apple, alphabet, microsoft, rebounding considerably from the june low as earnings came in better than expected portfolio manager richard bernstein says the fact we've had consistent inflows makes it hard to argue that sentiment is tremendously negative as some have been arguing, but also puts valuations into focus following a bruising first half of the year the s&p 500 tech sector trading at a forward price-to-earnings ratio of 19, now above 24 times forward earnings at a time when retail interest is also growing. back to you. >> seema, thank you. hedge funds also made big bets in tech in the second quarter going by this week's 13f filings which lessee picard has a close eye on andrew, what are you hearing on squawk box on "techcheck" we hear from the bears who like to point to the dot-com crash and say there are four market rallies. on a day like today, it feels more pressing. this rally we've seen over the last six weeks has been quick. it's been steep. >> the question is this real or a dead cat bounce, is it a fake-out i think the fed will be the big player we've talked about this

you're not going to beat microsoft at this game you can raise price here and lower price there.out. for example, having a videoconference deal that's much more immersive than just a talking head in the screen they need to innovate there or maybe they should think outside of the box and say we're a realtime video streaming platform, what else can we do with this thing than just try to become another part of the microsoft universe >> they're trying to buy fivenine their story would be quite different if they were able to double down on the enterprise months ago finally, meta. is it as bad over there as it looks? is the metaverse thing going to pan out or are they really just looking for an ecosystem where they can have more margin and more control >> i think, first of all, meta i never met an idea i didn't like this is the first one. they have a real challenge outside of gaming. there are 3 billion or so gamers, but that's not what facebook is doing. they are turning a metaverse into a joke. there was a recent article saying that zuckerberg's eyes, cartoon eyes are as dead as the

we will go inside the microsoft activision deal. first, tesla and apple outperforming as investors break for comment from the fed. >> stocks dishing the day largely higher looking at the s&p 500 and the tech heavy nasdaq both finishing up .3%. little bit of week this in the final few minutes of the trading day. if you look at the more speculative areas of the market, not a lot of movement. bitcoin and semiconductors both not doing much. investors are waiting to know how hawkish jerome powell is going to be on friday jackson hole. we have a couple of earnings to look at. nvidia falling about 3% in the post-market. they talk about lackluster demand for components in computers. better news coming out of snowflake that's a cloud company . they beat second-quarter revenue up almost 17% in the post-market. salesforce also falling in the post-market. a final look at the trading day, i'm looking at tesla calling about 12% today. -- falling about 12% today. it was the final day before they executed the stock split to finish the trading day.

as have employees at amazon and microsoft.ays if you are just a google shareholder you might think you want them to be more active in the industry. there's a lot of money in the oil and gas sector right now. their regular production and exploration businesses and even some of the chevron's and bp have talked a big game about -- money and renewable energy. in some ways, google is sort of behind in the sector. whether or not it is because they have one arm behind their back as far as limiting their work. it does not seem to be slowing down microsoft or amazon. in their defense, they are saying because these oil companies wouldn't be able to move into renewable energy without them. emily: interesting. we will continue to watch. thank you. the inflation reduction act will lower drug costs. i want to bring in jason kelly, ceo of ginko bioworks to discuss. how does this bill being signed into law impact your corner of the biotech universe? >> two recent bills. chips and science and the inflation reduction act. oath of them are relat

microsoft investing in two big trends, cloud gaming to start steve kovach is with us taking a look at the hardware coming this fall. >> i'm calling this metaverse palooza, after a year of hype, it's time for these big companies to show their work starting this fall we're going to get the first in a wave of these virtual and augmented reality headsets mark zuckerberg says meta's new headset, code name cambria, launching first in october and early next year sony announcing it will have its playstation vr2 headset, which means a playstation 5 to actually run that's coming early next year and also early next year we're expecting to see the apple headset as well. there are lots at stake for these companies but more so with metawith all the names i just said it's the only one betting its entire company on the metaverse, and it would be a big blemish for metaif this device is a dud or doesn't sell well meanwhile, the market is really small for these headsets and not expected to grow significantly over the next couple years idc predicting only 50 million will be shipped in 2026, four years fr

now to some of the other global business stories making news, microsoft a nice table create 36000 new jobs in ca, tara, by building a cloud data center. the technology giant hope's the move will help the gulf states in its effort to distance itself from the gas and oil industry once completion. the new facility will be one of microsoft largest international projects, up to a $120000.00 retail service firms, and it should be with going out of business over the next 10 months. that's according to business lobby con camacho, which warns that searching energy costs will force companies to go under. if the italian government doesn't to step in to help. they estimate 370000 employees could lose their job. e commerce giant alibaba is among the 1st batch of chinese companies to be audited by us regulators. that's after beijing allied, the u. s. to vet firms in china and hong kong. the move could end a long running dispute that threatened to boot more than $200.00 chinese companies from u. s. stock exchange. russian gas di and gas problem which owns a majority stake in the north stream, one pi

apple, microsoft and alphabet.keep an eye on apple also 10-year treasury yields in the discussion valuations going higher over the last year. 2.8% we are still just on the little bit of the down trend from the highs we saw 3.5% over the course of the last couple months with interest rates seemingly for now on the decline, could that at least put more wind in the sails for the market or are we heading higher because of the inflation narrative? let's bring in tiffany mcghee. the cnbc contributor tiffany, i wa wonder if the interest rate story is enough for you to feel comfortable investing in the market and valuations at a fair level or still need to pull back even more >> so, good morning, dom good to see you. i always feel comfortable investing in the market. i'm a long-term investor we always have to be comfortable. i think the bigger thing is how do you navigate a market like this of course, we were talking about the jobs report that was released last week i think it is a challenging issue. questions that have co

critics have said microsoft is skirting the antitrust spotlight.o you think this deal goes through? do you have any issues with this deal? if so, why not? guest: that's not a question of whether the deal is big or the transaction is big, it's what kind of market share does the company represent, and what do they do with the power, the dominance they have? what we learned is these platforms are using -- that is the concern. some of your guests were saying -- no one is suggesting that if the company is big is the sole problem. that is already happening in europe. these companies are already being required to comply. think about that. small businesses in europe are going to have more protections, american small businesses will be at a disadvantage if they are not protected from these practices. that's the american economy. we have to restore competition, gives small businesses the ability to enter the market and compete successfully. emily: congressman david cicilline, good to have you back with us. appreciate hearing where your thoughts are. speaking

speaking of activision and microsoft, i will be speaking with microsoft's gaming ceo on the next editionf bloomberg studio 1.0. that episode is coming up this wednesday. we will be right back more bloomberg technology. this is bloomberg. ♪ emily: apple employees are pushing back against the return to office. apple asking workers to come back to to three days a week starting september 5, but hundreds of employees signed a petition calling for even more flexibly without having to be approved by managers. this at a time when the term quiet quitting is making the rounds on social media. it's not that employees actually quit, but do the bare minimum job requires to maintain a healthy work-life balance. for the second time this year, tesla is raising the price of the driver assistance program it has 215 thousand dollars in north america. the system is controversial because it requires active supervision and some critics say it doesn't live up to its full self-driving name. and moviepass is staging a comeback -- the subscription service returning labor day weekend. there'll be three price tiers

where does its deal with microsoft stand? we will give you an update on that, next.s is bloomberg. ♪ emily: let's get back to earnings and shares of activision blizzard a touch higher after the videogame maker posted sales that beat expectations, but had little to say about its pending deal with microsoft. ed ludlow is here with the top lines. let's talk about the numbers first. ed: better-than-expected revenue, $1.46 billion. very nice. but context, down 15% from a year ago, earnings half of what they were a year ago. it is a weird situation for activision blizzard, with the pending acquisition. the reality is the videogames industry is not as strong right now as it was last year. call of duty: vanguard, which came out in the fall, has performed poorly. that has had an impact on the company's finances. and frankly, we are not all at home anymore. and some competitors like halo have just done better to grab what interest there is. emily: how much of this has to do with uncertainty around the deal? this would be the biggest acquisition of the last year at least, and w

where does its deal with microsoft stand? we will give you an update on that, next.s is bloomberg. ♪ how will your business adapt to change? you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. emily: let's get back to earnings and shares of activision blizzard a touch higher after the videogame maker posted sales that beat expectations, but had little to say about his pending deal with microsoft. ed ludlow is here with the top lines. let's talk about the numbers first. ed: better-than-expected revenue, $1.46 billion. but context, down 15% from a year ago, earnings half of what they were a year ago. it is a weird situation for activision blizzard, with the pending acquisition.

elizabeth: glad you're bringing up hydrogen because microsoft is in the news today. hydrogen is becoming what they hope to be their driver when it comes to their data centers. cooling data centers and you're in the data center business. microsoft is basically saying they want generators to transition from diesel to hydrogen. tell me about something like that entails and do they work as well and how do you make sure that you've got a major position in that area? >> yeah. we have a long history of invasion so really our focus is understanding those different customer needs. we have a scale advantage because we're in the different markets as we develop technology and also a unique understanding of different customer needs so we're really focused on driving innovation and driving the customer needs and helping them choose the right technology at the right time and data center is an area that customers have established environmental sustainability goals and they're interested in talking to us about solutions like fuel cells and hydrogen-based solutions to help them meet t

you have jpmorgan and the other banks popping to meet that strength in microsoft as we saw microsoft and the big growth stalwarts flat line after that 21 has been one of the lower levels of the volatility index we're actually breaching that. you see that steady decline kind of summer, relatively range bound trading. it's bullish until it gets to a real negative extreme, well below 20, and then you'll have people talking about complacency. i don't think we're there yet. >> let's look into the movers as we head into the close we got as low as 237 on the dow. we're now at session highs in this final minute of trading jpmorgan, chevron, verizon and visa are driving it higher boeing and salesforce are the losers s&p 500 well off the lows. it was down more than 1%, it's down less than 0.2 energy, financials, materials, industrials lead nasdaq is the loser, down half a percent but climbing well off the lows of the session. higher by about 2% on the week despite the fact that we have a much stronger than expected jobs report we'll see where it settles next week that's it for me on "closing b

let's get more mundane compared to apple, tesla and microsoft, cisco.ren: the number one dow component. so they make routers, cybersecurity products, business spending is strong, solid revenue topping $13 billion, they saw strength in products and services, the guidance, always shipping disruptions in china and still able to deliver for investors. stuart: ira member cisco from the 1990s, that went straight to the moon. to your pics, let's start with apple. we've done a lot of apple in the last 33 minutes and you are the man to cover it for us. tell me why you think it goes above $200 a share. >> some of the parts, one is the iphone cycle, we think 240 million of 1 billion iphones have not upgraded in 3 and a half years so massive pent-up demand on iphone and number 2 is what we see in china, massive recovery story we are picking up in asia and the stock has two in front of it. stuart: a two handle, $200 a share. palo alto networks, i know you like them. >> cybersecurity, that continues to be the one pocket we are sending spending not slowing and look at

and then looking at microsoft, apple is a, all of these guys reduced the stake in microsoft.it of a mixed bag but generally some consistent trends here. request coming up next, joining us to break down hp's full record -- record full-year earnings. we will have the full details. this is . ♪ >> let's get back to those full-year results for hp. a record final dividend of 3.25 per share. a good result but it is really delicate we are looking at. >> bhp had some interesting comments. there is perhaps a slowdown in those bigger economies but really pointing to china as being an emergent source of strength when it comes to commodities demands. there is some optimism when it comes to china. mike henry saying in a statement that bhp aims to deliver a greater value for shareholders by growing the business, exposure to the future facing commodities. we did see a bid for aussie minerals knocked back. that could come up when he joins us a little bit later on. to your point, very robust numbers. the dividend of 3.25, that was expected to underwhelm, especially after we saw these dividends

but to joe's point, if we see money flowing into the s&p, apple and microsoft are a pretty significant piece of that so they will potentially just move upwards even in the face of higher valuation so i think we could have some powerful moves if people really do start to put cash back into the market. >> we are seeing a good day for big tech today let's bring in tom lee he joins us right now. tom, thank you for being here. >> great to see you, frank, and everyone else. >> tom, you have certainly been the bull on "halftime. you've been the one tooting the horn we're set up for a rally. based on the information we have right now, do you still believe in that rally? silly question, i know you do. do you still believe in that rally, and what data do you point to that they are skeptics to also jump on the train that you're on? >> i know there was some talk about inflation. i think there's more good news in the pipeline on inflation just gasoline alone will probably subtract almost 80 basis points from cpi in august so that's a big improvement. but the story there is things like moving indica

microsoft for example you can't even run a bank any morewithou the tools microsoft provides you. financial services has to use tech industrials have to use tech consumer uses tech to sell direct to consumers and gather data of preference, size, color, flavor, all the rest of that tech should always be your anchor because it is the essence of the under-pipinning of the economy. that is why when people say oh, the fed is raising rates who cares? you can't run the technology without technology regardless of what rates are. >> rich, over to you i know you have a lot of dry powder right now what are you waiting for if you hear kevin's argument you might as well put that money into tech right now. >> well, we agree with kevin we're overweight technology yet we have to clarify between zero cash flow technology versus large cap technology and we're clearly in the overweight of large cap tech the rationale is we talk about labor shortages. that is going to lead to more technology adoption. these companies are growing faster than the s&p. and they have large moats around their businesses a

. >>> plus, apple, microsoft, and alphabet all down more than 5% over the past week is tech too ris io buy on this pull back? our market pro tells us how he's positioned. >>> first to tyler and a check on the markets. >> thank you very much and welcome to you and everyone. stocks pulling back now for a third straight day now off the lows of the session, however, the dow industrials now down about 1% or 341 points. the s&p 500 meantime is back below the 4,000 mark i look over there down 1.25% energy sector, worst performing of the day dragged lower by the fall in oil prices that contessa just mentioned. apa, halliburton, valero, some of the big laggards there. shares of alcoa down about 9% after the company said it was going to curb production at a facility in norway to offset power costs. well, the s&p 500 has shed more than 3% since friday's rout and that cuts its rebound to about 9% overall our next guest says what we are witnessing is new leadership emerging and investors need to stop clinging to yesterday's winner let's bring in dan suzuki, deputy chief investment officer at richa

microsoft 8%. in the towel retail investors were aggressively buying. that circle is you guys. one group will have to give up the ghost, either they were right or retail is right. we have dan nel shea and aosha tariq. last time you were on you liked google and tractor supply. congratulations r there other names that you are looking at right now? >> you know, charles, right now i'm actually liking consume every staples and energy again. i think they have come down significantly with energy in particular. you had great earnings reports from chevron and exxon. you want see they have come down with weekly chart. i think energy starts heading back higher w consumer staples we had the news from walmart. i think that is actually selling off at this point. we look for retail to trade higher into office. charles: oh, would you. you know what? i love that. i will come back to you. i want to bring in aisha. welcome to "making money." i happen to be a fan of your work. i've been reading it for some time and i'

microsoft will raise guidance, and buying back stocks. like about this earnings season, it is the poster child for what can go right. >> 5g, quantum. and that people have forgotten about. >> and an investor for the long-term. i like the volatility, but with those two etfs, tech companies and semiconductor companies so talking about the ones that got knocked down and rallied in recent days but if you think about the future it. to electric vehicles and 5g new wireless phones and a massive growth opportunities for these companies and you see the rotation now with value going back to growth and investors might be okay with the idea that we can see the bottom in tech, and might not be straight up but definitely some price averages to the short-term because of how they have ripped we see investors coming in. >> i feel real dumb, all it took us 3 weeks. it is a lesson out there. these quality names get hit and come back. have a great weekend, appreciate you starting the show with us. we are going to go back and look at these job numbers and anal