We layout top moves by executives buying up their own companys stock. Data you are only going to see here on Worldwide Exchange. It is friday, july 17. You are watching cnbc. Good friday morning, afternoon or evening and welcome to wherever you may be watching. We have a lot to do. Here is how your markets look. Slightly in the red but they could turn around. A very good week for your money, especially the small cap stocks. Russell 2000 are up 3 alone well see what happens today it is very early one of the big stories today is netflix with a mixed picture there. Stocks down 6. 5 the guidance worrying investors. Netflix says growth is slowing as viewers get through the initial shock of covid and also announcing that coceo officer is being promoted. Likely the main stock well talk about today. Stocks wrapping up in asia. Continued tension between u. S. And china hanging over the region early trade in europe. Investors keeping a close watch on something you might have seen on this show, which is a meeting on the key recovery package. Well see a mixed picture in trading. Looking at the outbreak in america and troubling number figures in numbers and hot spots. Frank holland has the latest the number of new cases being reported has reached a new high topping 70,000 for the first time yesterday the number of infections in the u. S. Has surpassed 3. 5 million mark nebraska, utah andorgeg fouchy urging younger americans to take this outbreak seriously saying it will help stop the spread of the virus we are learning more about the cyber attack on twitter. Hackers attacked more than 130 accounts including high profile figures and companies. They are unable to assess whether they were access the data on those accounts back to you. Well see new a couple of minutes. Back to the markets and your money. Major averages snapping the recent rally as investors continue to rotate particularly the Big Cap Technology stocks which have soared on prospects for growth amazon was on pace to break a 10week winning streak amazon is still up 60 this year microsoft is up about 50 since the market lows since march set for the worst week well talk more about this managing director of tjm services and contributor how many times in the last 10 years the rise of the big tech stocks have been counted out only for many of those to say it was over to be counted wrong a couple of days does not a trend make sure. Can you say weve been through this before. The move weve seen is pretty amazing. Of the names weve crowned king during the whole resurgence of the stock market, netflix and amazon had the best stayathome story. Netflix and amazon were the big ones it was like, whoa, everyone is staying home, what should they buy. The amazon thing will be the biggest deal of the earnings season now as you said, the russell started outperforming days ago i wanted to believe that was the market telling me there was this economic rotation that would happen and wed start hearing good news. Now im hearing about people talking about potentially closing schools again i think its going to continue. Id rather belong the russell. Theyll tell me what the next story will be. Today will be a big deal to see how this weakens out watch for potential new highs in the russell today if it makes it it is good if we test it and fail, then what thats bad. Sometimes people think Technical Analysis is some kind of voodoo. It is not. If we go above those today, well find out if people are waiting in the wings to jump on this story the same thing for nasdaq. I wanted this rotation to be based on the strength and not nasdaq weakness. If people start thinking that trade is a little long in the tooth, that could reverse quickly. Right now, im looking at the rotation to be fuelled on the russell strength more than the nasdaq weakness but that could change. Small caps reopening, you mentioned schools. New York City Schools to close and go virtual does that mean bad news for stocks is that where we are right now we saw the l. A. Headline the other day turn the market down considerably yes i think thats mostly where we are right now. If you look at oil oil has been at a flat line for weeks. I interpret that as everybody is holding their breath i hate even saying this, wait for the next two week things weve been hearing that the entire time. It is true every week brings out important information. The next information will be schools. We are dealing with that in illinois right now many of these markets are just waiting for the news to come out. With regard to schools and the markets, i have friends that live near you. They are saying the kids will go one day a week and then alternate. For working families, they need their kids in school it will be this impossible battle primarily of teachers because we know the young are safe that will play out in the stock market as well it plays out to everything. I dont envy the decisions on this there is pros and cons both ways there is no win no win at all you are either putting teachers at risk or families or the economy. There is no way to win the argument yes im glad im not a public official right now i know which way id go to i guess the point im trying to make is i dont think people understand the massive economic ramifications of keeping kids out of school. We are already talking more stimulus the willingness of the Federal Reserve and federal government to support Economic Activity that to me seems like insat yibl thirst to keep throwing money at it i heard it said 48 of First Responders and nurses. If you have an eightyearold, they are not learning on zoom. They are just home a curious time you are watching small caps. Always a new high. Thanks for coming on when we come back a number of cant misinterpreter views including Worldwide Exchange with the ceo of new jerseys Largest Health care system well talk the current state of covid crisis and the prep to the fall wave and news about a simple way they are helping patients survive and it has nothing to do with ventilators or pharmaceuticals youve got to hear what he says. More on the housing check the fifth biggest publicly traded home builder. And what could be a big day for netflix and invoeestors stick around welcome back lets look at some of this mornings stocks we promised more Frank Holland good morning. We are going to start off and keep on trucking shares of j. B. Hunt, the largest container mover in the u. S the company says shipping demand has been steady and rebounding since then cruise line shares are coming under pressure as the cdc announced it will ban cruises through september. The previous order was set to expire at the end of next week carnival down, Royal Caribbean down and norwegian up fractionally Mortgage Rates have dropped to historic lows lending tree shares are up brian, back to you i saw yesterday on cnbc. Com, a great website. There are mortgages you can now get 30year mortgages for 2. 98 . What do you think about that amazing i actually purchased a home a few years ago and i thought those rates were the lowest. I have a bit of buyers remorse but ill refinance you and i are going to go auto 50 on a yacht kidding. Well be back with two restaurantors and the state of reclosing South Carolina and texas. Real world stories stay tuned announcer todays big number, 40 billion. Thats how much Warren Buffetts stake in apple has gained since the bottom of the market in march. The iphone maker now makes up 40 of the equity portfolio. Youre good to go. I have to take care of my coworkers. Thats how i am. I have a son, and he said, one day im gonna be like you, im gonna help people. Youre good to go, maam. I hope so. This is my passion. If i can take of everyone who is sick out there, i would do it in a heartbeat. Welcome back it has now been a little over two months since states across america have set reopening plans in motion. We have also spoken with a number of Restaurant Owners in america to understand how they are doing and how they are managing through the crisis. Let us revisit some of these guys and see how they are doing. Tommy hall, president of Hall Management Group seven restaurants in South Carolina and benberg theyve got six restaurants in texas. Tommy and ben, good to chat with you. I know it is early ben, ill start with you you had to get up an hour earlier. What is the status texas has been in the headlines for a lot of the wrong reasons right now, it is difficult. Around three weeks ago, we had spikes in cases. Especially throughout houston. We were back for to 75 . Sales were anywhere between 60 to 70 of revenue from pre covid. The past three weeks have been really difficult weve dropped probably 40 down. People are just scared right now. Tommy, you guys are in the same boat. No politics. You reopened sooner than other states some would say too soon. Weve seen the numbers spike up. You are still open for the most types of dining. What is the status of your restaurants and South Carolina in general and what do you expect the status is we are nervous but we are making due right now. We are at 50 occupancy. We have a lot of new things. At 11 00, the governor mandated no alcohol sales or consumption. So it has changed. Like ever day, something new is coming at us thats what we do. We adapt and change and try to get better every day ill ask you both the same question i think restaurants are probably the hardest to run. Would you rather the governor shut everything down a month and then have strict guidelines that wont be change or remain open with daytoday or weektoweek changes. I want to be open i hired back 60 of our staff. We kind of just want direction right now. Changing ever day. Not sure if we might shut down next week, it is not fun i would say just more clear direction. Absolutely. For South Carolina i want to be in control. Every day to day, yes, you are scared are we going to start and stop thats no fun. We have to work. We have to get back to it. We have to do it in a safe way it is very safe in our restaurants. We are Wearing Masks and doing the right protocols. I want to stay home. I dont want people to tell us to stop. My people have to work guests need to come out and living their life and move forward in a healthy, safe way it is an interesting thing. You are both in states, again, none of us are epidemiologists i will say this, i know a few. They all point to airconditioning that is wellknown you are facing this heat wave and everybody wants to be inside do you have customers who if it is 99 degrees in ft. Worth would rather be inside because it is too damn hot to be outside. I agree right now, texas, houston, every day is triple digits here but listen, people will still sit outside when the sun goes down our paddios are patios are still full sitting outside is a little different. Impossible. When the fall comes and it cools off. It might ease up a bit im being optimistic you both have a direct line to Public Officials right now what is your request to governor abbott, ben . Keep us open. Give us good direction we need to work. We need to get back going again and do it safely i think all the Restaurant Owners can do it safely. Give us good direction how about you, bobby . Absolutely. Take your time go slow. Do it right. Keep us open things will hopefully turn this fall we are taking it day to day right now. We know it is tough we appreciate you coming on. You have a direct line to talk about your business. Lets pray for cooler weather and get those windows back open. I look forward to seeing both of you in your respective restaurants with me there. Still ahead, with he go inside the c suite with a break down of what executives are buying up. Data you will only see right here on Worldwide Exchange. The insider buying recap later on, well talk about the straight of streaming and netflixs less than rosie outlook with former tv executive Christina Norman netflix is down. We are back after this a potential winning streak small caps have been on fire this week. Ahead of the new jersey Hospital System on the remarkable way they are patients and the virus being no match for the Housing Builders you can shut it down but you cant stop people from buying homes. This is Worldwide Exchange on sn welcome back hope you are having a good start to the end of your week we are about half way through this 5 00 hour we are in the red by one point it is so early anything could happen. There are the numbers there. The implied open rosier or greener. It has been a pretty good week for your money especially if you have been vested in small caps this morning, the russell 2000 is up 3 you heard it say if that index can break out above that little high from a couple of days or months ago, watch it run higher. Watch for potential new highs on the russell 2000 according to jim. Time to bring back our insider buying segment where we highlight the top insider buys these are executives buying their own stock with their own money. Coming from insider score. Com. Not a ton this week because of some restrictions ahead of earnings we have four companies to highlight first, science application international. Next up, bed bath and beyond u insiders maybe seeing some value. Second most insider buying is smaller oil and gas company wut offshore the most insider buying this week is a lot. Azz inc. New company. A texas based Metal Coatings company. The coo buying 4. 5 million of their own stock. Why do we high lie this list, buyers have been pretty savvy. The return of the 25 or 30 companies we have highlighted since this is 39 this week. Thats not right 39 this quarter take that off. Thats incorrect 39 gain for the quarter for the 25 or so s p 500 companies and other companies with insider buying so the insiders, they have been right and their stocks have outperformed the s p more than double well bring you this every friday and something youll only see her on Worldwide Exchange. Hospitals across america are stocking up for supplies for treating covid19 round two. Most hoping to avoid another scramble perhaps no area more concerned here than the northeast and new jersey, a former hot spot of the outbreak. I spoke with the leader of meridian health, leader of some 17 hospitals and patient care around the state i began asking him what the current status of his Hospital Network is and how full they are from peak until now. I would describe our situation right now as stable. We peaked in terms of covid cases in the middle of april i think it was april 13, at that time, we had about 3,000 patients in our hospitals across the network. From the beginning of the pandemic through today, weve seen over 10,000 covid19 patients the good news is today, as we speak, we have 105 Covid Patients throughout our network. That is a decrease of about 97 . There has been significant decline. It has been steady a couple of days where you go up and a couple days where you go down the news is very good and we are stable with err seeing less patients on ventilators and in icu settings. Weve learned a lot. We are happy we are in a stable period we have an opportunity to regroup and look to the future. We were on the front lines. You and your team. All the critical responders. March, april, new york, new jersey, going around the country. We are seeing cases go down. Why do you think that is and what have we learned the short answer is weve learned a lot. I want to take the opportunity to give a shout out to our heroes on the front lines. Our doctors, nurses, respiratory therapists and others. They were incredibly heroic through this ill say it again now, when the books are written on this, theyll go down as american heroes having said that, weve learned a lot. If you are a covid patient in july in terms of how youll be treated, it is like night and day from april weve learned how to keep patients off ventilators there is a technique called proning where patients are turned from their back to stomachs to increase lung capacity that has been an effective treatment in terms of keeping patients out we have proning teams now that work on patients that technique was not fully understood or in full operation back in march when the first Covid Patients hit on the they are pew tick si on therapeutic side, there are more choices youve heard of remdesivir lower lengths of stay on that drug regimen and the other exciting news is convalescent plasma study we are taking patients that have antibodies and infusing their plasma into sick patients. It is showing to be effective. Im sorry to jump in on you from a time perspective. Just flipping people over has made a huge difference ill wrap it up with a twoparter the idea of bend the curve to build up Hospital Capacity that was the idea a couple of months ago have we in new jersey, quote, bent the curve what are we doing in the fall . Do we expect the second wave so many have been talking about i believe weve bent the curve through social distancing and quarantines that happened in new jersey during the peak the masking are all techniques that helped bend the curve giving the public the benefit behind that. Weve bent the curve and expecting what we call covid 2. 0. We have crafted a playbook weve written it down. We know what to do with supplies to increase in the fall. Staffing, increasing testing testing has been a great tool. When this pandemic started, testing was limited. Today, testing has expanded. New jersey is testing more than any other state in the nation. This playbook will be a huge factor to get to your previous question, yes, we are sharing that playbook with others country country. Particularly those in the hot spots now so they can learn from our experiences. Thank you we chatted late yesterday. Some exciting news from him. Also after we had wrapped up the interview, theyll be participating in Clinical Trials for a potential Covid Vaccine and expects to begin those trials isnt that remarkable. Proning, simply flipping patients to their stomachs from their back has been helping to keep people alive and off ventilators. They are learning a lot. Coming up, your morning rbi. It says a lot about you, the consumer as we head to break, some other top stories. Ebay set to hold a Board Meeting to select a buyer for its classified ad business potential 10 billion deal down to all cash bids and all stock offer. 15 former employees of washington envelop team said that they were sexually assaulted ranging from inappropriate remarks to outright abuse a new campaign in holey wood calling for people to wear a mask in public ki pt in mask up, america. Well be back in a moment. Time for the morning rbi random but seen data from daily analytics based on cell phone movement data. Are people shopping again . The answer is yes but mostly where we feel safe or where it is open, literally or figuratively this chart compares outlet malls, which are more outdoor areas to indoor malls owned by Simon Property group look at that they both had the same steep drop as the virus locked us down you can see a pretty rapid recovery on the outlet side. Inside malls are still well below their highs. Many are still closed. The consumer wants to go out and shop where they can and where they may feel more safe, which is being outdoors. Outlets. Theyve come back. Inside, not where it is at random but interesting well get the latest gauge on the housing sector. Home Builder Sentiment is back likely adding to that is 30year Mortgage Rates good credit, you can get under 3 talking more about this with chairman and ceo of taylor morrison, fifth largest builder joining us live, which time zone are you in in arizona. It depends which time of year, we are Mountain Time zone, so three hours difference. Bless you. I dont know if you stayed up or got up we appreciate it have you been shocked about how good theyve been . It is good to see you yes, since we last spoke, we have reported our june numbers it has been tremendous we were 94 up year over year. Really every metric we look at our sales pace per community was an alltime Company Record in outlet sales per month really, the most exciting interaction we are having with consumers virtually. That continues to evolve it has evolved from pushing the boundaries from this virtual Shopping Experience you were just talking about with outdoor malls to the virtual buying experience what do you think it is in oregon and washington. Is it people that want more room or to have more space for their kids is it board yom or all of the above . It is weve done a great deal of Research Understanding opportunities and motivations it is a little bit of all of it those looking for more room, more space and new realities for people moving out of the urban core, we are really seeing that. Interest rates are historic lows the things that are interesting are the need for wellness. The Healthy Living wellness has seen them to move. What are you projecting there are a lot of people who said this recession could be worse and longer and deeper than many people think . I would describe it as cautiously optimistic. You look back to wherewith he were pre covid. We came into the year strong because employment at that point was quite good the supply was more limited. The wildcard as we progress over time continuing to see Strong Demand for new homes for fresh, clean, Healthy Living. Interest rates will be the time for catalyst there is no inventory for the ground today im cautiously optimistic. I think as we move forward, well continue to see some really strong consumer demand. Market by market, well see some bumps in the road. That stock has almost recovered to prepandemic highs we appreciate you coming on whatever time it is. Thank you take care. On deck, have we hit peak netflix . Or is there too much competition out there. Subscriber growth falls. Former Oprah Winfrey network ceo. Dow futures, we are down 16. We are back after this you should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified Technical Analysis. Now is the time to support the places you love. Spend 10 dollars or more at a participating Small Business and get 5 dollars back, up to 10 times with american express. Enroll now at shopsmall. Com. Welcome or welcome back. Shares are down. Subscriber growth disappointing investors. Shares down about 7 with that pull back, lets take a step back. That stock hovering at alltime highs. Only gone up 350 in five years. Investors have still made a ton of money the question is where does it go from here . Talking to Christina Norman, former head of Oprah Winfrey network. Great to have you on this morning. Every time we get numbers that disappoint for netflix, the people go, its over. Its over a couple of weeks later, netflix surprises us again what do you think the outlook looks like i think you can look at the outlook in terms of viewers. I saw something this morning that talked about 99 people watched that film extraction. There is value in the content and the audiences they are serving. Im going to ask you a very difficult question because i never heard of the movie extraction. Do you believe in the numbers put out or auto plays . No, they did change the algorithm. Series like never have i ever. Netflix has attracted a lot of broad audiences and streamers others have left out of the picture. Expanding their audiences and build their contact, they are seeing success yeah. Everybody i know is watching ozark. I watch fowza and money heist. You may have heard of this Company CalledNbc Universal peacock released the streaming landscape getting crowded. Do you think everybody can win in their own way i dont think everyone can win but folks who carved out a place for themselves will see success. Peacock is really about the best of tv is how they are positioning that that does connect with people who Love Television and shows like 30 rock hbo max has launched, disney plus has launched. Consumers will turn in and out depending on what they like and whats on there at any point in time do you worry they are overspending for content i wish i knew how to write a tv show we could retire and head off to the sun set. They are overpaying for some things other things that are not that expensive or formats that work around the world there is tons of different windows. Nothing but platform that content can move to. Right now, it feels like a good amount of content. The price point seems right. The audience is still there. A lot of people are still stuck at home. Well see how that plays out you know who else is stuck at home, that is actors and directors. We are watching a lot of shows put into production last year. If this lockdown continues, what will be the new content landscape. Well be watching mash reruns . It has been amazing to see from Technology Perspective what companies are doing around innovating and bringing different content. The first phase was the zoom tv show with err seeing that right now well be moving to some more selfshot things and smaller crews. Really seeing how creative people reimagine thats pretty exciting selfshot and smaller crews, i think you just described tiktok well be watching our 85inch flat panel and watching people dance. If you like threeminute shows, great but if you like scripted content and more emersive things this is such innovative content to writers and producers seeing an amazing amount of opportunity and grabbing it. We got to end, it is friday lets end on a lighter note. Ive been watching this perry mason on hbo max not bad. Whats your favorite show . Dont say ozark. Give us a name we can binge watch. Im just starting peeky brienders. There are four episodes. We watched the old guard on netflix. That was fun there is a lot of good stuff out there. Christina norman, good stuff from you talking netflix and streaming. Well check out this movie extraction apparently im the only one who hasnt seen it. Have a good day. Thank you like blood line, it ends quickly and out of the blue. That does it for us here on Worldwide Exchange. Dow future down 24 squawk box is next have a spectacular weekend, everybody. Hey, kids welcome to camp tonsafun on xfinity its summer camp, but in your living room. Learn how to draw with a minions expert. How to build an indoor Obstacle Course plus. Whatever shes doing. And me, jade cattapreta. The host of es the soup camp tonsafun. Its like summer camp, but minus the poison ivy. Unless you own poison ivy. In which case, why . Just say summer camp into your xfinity voice remote to join. Good morning trying to keep the streak alive. Futures are down the dow and s p are still on track the Third Straight week of gains after a couple of strong months netflix shares are getting hit hard warning of weaker subscriber growth in the current quarter. The covid19 pandemic, dr. Fauci talks to Mark Zuckerberg and pleads with young people to take the virus seriously. Friday july 17, 2020 squawk box begins right now. Good morning welcome to squawk box on cnbc. Im becky quick along with joe kernen andrew is off today. Futures are off a little bit looks like they are down a little bit there you go waiting for this joe, it is friday, im in love it is somebodys birthday tomorrow too