that's how zscaler has been doing business.d i have talked about how the bad guys are using a.i. right now i'm interested in how you are using a.i. to actually increase the opportunity the catch the bad guys. as i understand it, you use 3 trillion customer logs weekly to train artificial intelligence? what ab contact -- exactly are you doing with that information? >> in fact, those numbers are growing up and up. recently we're doing half or trillion transactions per day every day. liz: wow, okay. >> so all those transactions are communication logs. before anything bad happens, the are are reconnaissance takes place. liz: yep. >> since we are like a switchboard, like an airport, we can see who is trying to do what. but the volume is so high, that you can only do so much. liz: the human eye isn't going to sit there and say, oh, look over here. >> exactly. we're able to feed it to our aimf engine and detect things better. my next favorite program service we're working on is breach prediction. predict a breach before it happens. li

eastern tomorrow and also reveal z kaler's -- zscaler's to progress in a.i.e future of his company. if you can't watch it, set the dvr. >>> another a. i.-focused tech name head ad in the opposite direction, getlab is up 19%. this is the software development platform k and shares are on pace for their largest percent increase in more than a year. it's spiking after a beat and raise quarter. the company nabbed a flurry of price target hikes from various firms following the report. >>> and chip maker amd ramping up competitive efforts. shares are climbing 2.5% after announcing that the company has hired former nvidia executive keith trier to lead its -- trier to lead its global a. i. markets. >>> the success of buy now, pay later start-up zilch belies the company's name. the fen-tech ceo joins us next to take a victory lap after its first ever profitable month. will it beat rival klarna to an ipo? and kamala harris speaking in new hampshire at this hour, right now, you can see a lye picture there. just about anyone thinking about starting a buzz should be listen

malcolm, your pick is zscaler. >> i actually think the earnings report created an opening because zscaleriary if people are trading away from crowdstrike with the outage. >> malcolm, thank you. one more look at the futures. they have been in the red all morning long. the nasdaq the hardest hit down 1%. the dow would open just about 125 points lower. that does it for us. "squawk box" starts right now. >>> good morning. stock futures are lower right now. chip stocks falling in the pre-market. we'll show you which ones and what else is moving. it's jobs friday and we're two and a half hours away from the data that could influence not only the fed's next rate decision, but wide-ranging influences on a lot of things. >>> plus, a florida entrepreneur has taken a 10% stake in jetblue and now discusses with the ceo about a board seat. it's friday, september 6th, 2024 and "squawk box" begins right now. ♪ >>> good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. it's friday. it's a v

shares of zscaler will coming up short after coming up with fourth quarter profit outlooks. earnings and revenue topping expectations with revenue rising 30% from a year ag to just under $593 million, those shares off 15% premarket. >>> a similar story for shares of pagerduty on the back of mixed second quarter results. revenue missing the street's estimates, the digital operations platform showing weaker sales growth and cutting its regular guidance, those shares off. asana lowers its outlook. for second quarter earnings, they posted a smaller than expected loss. those shares down 13.5% in extended trading, and shares of gitlab rallying on the company raising its full year forecast as more businesses work to integrate ai and security into their technology. gitlab shares bucking the trend, up 17% premarket. >>> as we head out to break, watching two other areas of the market starting with cryptocurrency and bitcoin hitting its lowest level in less than a month. 60,735. taking a look at the rest of the cryptocurrencies, you see 55 for ethereum. wti prices coming off a 4% drop

for instance, just take last night, zscaler. jay is going to be on later tomorrow afternoon.aying he's very cautious on billings. yesterday, we have a lot of people saying super micro is really in trouble. intel, obviously, very, very troubled, so it was not just nvidia. we make it sound like nvidia is the sun and everything revolves around it, but there were a lot of negatives yesterday. nvidia, i've been saying, let it come down. i love nvidia, everybody knows that. i hate to love, i shouldn't say that, it's just a stock. i have been saying ever six since the quarter, you got to let it come down. don't be a hero. i tried to compare last night to the cowardly lion because counting on you guys to stop me before we go into it and i feel that's the way it is, i really do. >> we talked about the michael semiblis note out of jpmorgan, not just the argument that competition is coming for nvidia and their historic margins and market share, but it sounds like he thinks there should be more progress by now on some of these use cases. >> i think that's really great because there are a

security hp with intel, look out oracle cloud and tensely consulting to our partners, extenture gdit and zscalerazon web services, cisco, and lydos our lead underwriters. let's please applaud all of these important sponsors that make our event possible. [applause] so arizona it's been said cyber is a team support and so is putting on a massive event like this i want to thank our wonderful team that worked nonstop for over a year to organize exciting program. we humbly believe that this is the best events team in the business, and i'm incredibly fortunate to work with such a talented group. so to let me cite them by name. troy -- right over here. troy schneider kristin -- charles, britney stephany, wendy, brook, chantelle, haley, lauri cooper. rachel, kim, our emcee sandy and tori leadership of our content team has been nothing short of amazing. please let's give them all a round of applause for this incredible team. [applause] so with that it's my honor to conclude the summit to thank each of you for being here to the very end we so appreciate that. and that concludes this summit we hope you hav

. >>> and zscaler having its worst day after reporting disappointing results.h jay chaudhry on "closing bell" overtime. >>> we'll break down the verizon details. "closing bell" is coming right back. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> big day tomorrow. it starts on "squawk box" tomorrow morning at 6:00 arm. don't miss it. >>> coming up next, hp is reporting in "overtime." we're inside the market zone, next. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley power e*trade's easy to-use tools make complex trading less complicated. custom scans can help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade fr

you look at zscaler and cr crowdstrike. 1995 moment.t's not a 1999 bubble moment. >> where do they finish the year? if you think tech rises 10%? >> 15% to 20%. i think these are specifically areas where i think you have just a huge parabolic run. >> the tech sector 10%? >> you will see mag seven and big tech continuing in the left lane. >> dan ives, thank you very much. >> thank you. >>> coming up, a live report from north carolina with the wake of helene aftermath and the construction costs estimated to be in the billions. we're back after this. apting... deepfake: hey handsome. ♪♪ [inner monologue] ...always iterating. ♪♪ did you ever worry we wouldn't get to enjoy this? [jeff laughs maniacally] (inner monologue) seriously, i'm on the green and all i can think about is all the green i'm spending on 3 kids in college. with empower, i get all of my financial questions answered. so i don't have to worry. empower. what's next. at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, ba

have our federal partners, accenture, booz allen, elastic, gdit , island, microsoft, palo alto, and zscalerto our lead underwriters who support the cybersecurity summits throughout the year and have worked with us on many of the past summits -- amazon web services, cisco, and leidos are a huge part of our effort. please join me in thanking these organizations that make our event possible. [applause] i also want to busily acknowledge the team that puts the summit together. you will hear lots of times this week that cybersecurity is a team sport and so is creating a large multi-day event like this. so the colleagues behind the summit are the best team in the business and i just want to recognize the amazing individuals who are behind this summit. charles, christine, brittany, terry, kara, mag, rachel, sandy, kim, morgan, clarice and sav who are alla part of the billington team. the management team which is what i do operationsn today, and the evergreen team which has marketed the event throughout the year and helped get people signed up and is essential to getting people here this week. there

. >>> a downgrade from bank of america to zscaler. cutting the price target down to 195.owth and competition. >>> coming up, one word every inveorne to owsts edkn today and the sky high home prices. we will head out to big sky country when "worldwide exchange" returns. stay with us. what is cirkul? cirkul is what you hope for when life tosses lemons your way. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com. >>> welcome back to "worldwide exchange." the housing market and elevated home prices are proving to be a big talking point in the lead up to the 2024 election. sky rockets home prices look to be a key focus and key congressional races as well. emily wilkins is joining us from mi missoula, montana with the critical race. >> reporter: good morning, frank. this is a new house where housing prices have ksky rocketd and an issue in who controls the senate next year. senator jon tester faces a big battle in keeping his seat. he made prices a central part

so if we overdeliver today on zscaler, i think the whole group is going to benefit.ext year with cybersecurity. >> still, 63 pe you don't see that these days. this one has the most beta. let's move from cyber stocks and talk about dick's sporting goods. they're pushing into omni channels, it could boost comps by two full points. the stock had a good year, doubled over the past 52 weeks. what do you do? >> you know, i think if you own it, you hold it. the core thing on dick's, it's a great story. everybody understands the narrative. parents are going to skimp on a vacation before they skimp on their kid's athletic equipment. here is the thing, i think a lot of what's happening with dick's, they're doing a big distribution center and they're planning expansion in texas. texas has to work because right now, we're just increasing revenues, earnings with revenues. it's a cost-cutting story now. i think going into next year, either they make it in texas or i think the growth slows down and there could be some concerns. >> absolutely. and i just was going to say i'm impress

hormel, zscaler, broadcom, docusign, hewlett-packard throughout the week. 8 out of 10 companies havet on the bottom line, 6 in 10 have beaten on the top line. stuart: lauren, thank you. david still with me. headline in the "wall street journal" reads: americans are really, really bullish on stocks. that's in the "wall street journal." big headline. so the rally continues? >> that's the most bearish headline you could possibly get, and history is abundantly clear here. when sentiment9 gets very high, it's usually a very contrarian small. the vix has not been really all that high. mostly it was very low. it spiked up in early august. it's come down. that's when people are showing their fear of the market. "wall street journal"'s capturing it, there's a lot of positive sentiment -- lauren: and just the calendar. isn't september the worst month of the year for the stock market? >> it's true except for all the months it isn't, and some of the septembers have been so bad like, you know, september of 2008, it brings the average as down. stuart: yeah, that was a bad one. >> that was a pretty

tomorrow zscaler ceo and minnesota vikings owner with green on the screen for the dow and the transports we'll see you tomorrow. larry: hello folks welcome to kudlow i'm larry kudlow. well, fear on the campaign trail is what it's like trying to figure out vice president kamala harris' policy agenda. kellyanne conway in a moment but first up edward lawrence in the line of fire. edward? reporter: larry, we're getting that policy in drips here. the vice president says she's going to focus on tax deductions for start-up businesses. it's actually a plan that republicans had six years ago out of the house of representatives which former president trump supported. well the vice president is now adopting some of that. she wants to now increase the deductions for start-ups from 5,000 to $50,000 in expenses. this seems to be a nod to the fact it's more expensive to start a business and the vice president wants to cut red tape for occupational licenses to make it easier to expand across state lines. she will also pressure states to reduce regulations. now the head of the rnc, he's skeptical. >> i r

now shares of zscaler, down 16% right now after the cybersecurity company issued a weaker than expectedd post a beat on the top and bottom lines with revenue rising 30% from a year ago. but it was not enough to boost the stock, which is now down 25% or so on a year to date basis. and then let's move on to shares of gitlab, up around 13.5 to 14% after the software development company reported a beat on profits and revenues for the quarter. they also raised their outlook as more businesses work to integrate a.i. and security protections into their technology. those shares still have 19% so far year to date, but gitlab bucking the trend with regard to this overall market downturn. back over to you. >> dom, i hate to throw this at you, can you show us maybe the semiconductors etf or something, how things are shaping up this morning after that rough, rough day yesterday. >> sure. if we can get nvidia, smh, all the other ones up, it is right now down 1.5% premarket. we don't know whether the downtrend remains in place. whether or not we do kind of approach the lows that we saw back earlier th

have our federal partners, accenture, booz allen, elastic, gdit , island, microsoft, palo alto, and zscalerto our lead underwriters who support the cybersecurity summits throughout the year and have worked with us on many of the past summits -- amazon web services, cisco, and leidos are a huge part of our effort. please join me in thanking these organizations that make our event possible. [applause] i also want to busily acknowledge the team that puts the summit together. you will hear lots of times this week that cybersecurity is a team sport and so is creating a large multi-day event like this. so the colleagues behind the summit are the best team in the business and i just want to recognize the amazing individuals who are behind this summit. charles, christine, brittany, terry, kara, mag, rachel, sandy, kim, morgan, clarice and sav who are alla part of the billington team. the management team which is what i do operationsn today, and the evergreen team which has marketed the event throughout the year and helped get people signed up and is essential to getting people here this week. there