Tthe eamon javers is in washington, deidra, and julia boorstin, and josh lipton on apple we were just seeing a shot of the hearing room as well eamon, we may lack some of the visual drama given the remote locations of the ceos, however there will still be plenty of theater given the star power we expect. Yeah, look, scott, this is scuff iconic moments in business history. Starting with big to bako, the big banks, the pharmaceuticals, theyve all been through this big moment where all of the leaders of those industries are on the capitol hill raising their hands in the air testifying before congress this one wont have quite the sting of that for a couple reasons. I dont think you can say the Technology Industry is as unpopular as the industries were and that huge user base i think will go a long way also, you have this idea which you were talking about these guys are going to be testifying remotely. Theres a bit of distance thats going to go a long way here, in terms of softening some of the blows. Im going to be watching the document discovery, whether or not the committee has gotten any emails or documents that may put these ceos on the hot seat we were expecting all of this drama to begin at high noon or a few minutes after that, but it looks like were several minutes away, at the very least. There was another hearing this committee was involved in. As they get set up, well continue our conversation. This is jeff bezos First Time Ever testifying before congress. What is he going to say today . Well, scott, this may be his first time testifying, but out of all four ceos, hes lading his company for the longest. He is ready. He was adopted, he left a sturdy job to work out of his garage, eventually creating amazon, which certainly was not a winning bet in the early dates it lots a lot of money he talked about a barrons cover calling it a bomb. Expect him to weigh heavily on the philosophy hes had for decades, which is that customer obsessi obsession. Everything they do is for the benefit of the customer. So he will argue how could the company be bad for them . I would say, though, the cracks are starting to show a lot of the questioning for him is what they had will do with data from that you are county computing business, aws. The does that give them an unfair advantage on the consumer side theyre starting to see it as well when you do searching on amazon, you will often get their private label products, which arent necessarily the best products. He doesnt appear publicly that often, so that will be something to look for. Julia, tim cook is likely to find himself on the hot seat. Two very important acquisitions that zuckerberg made i think in those situations, hes likely to stress those two companies are successful they can can be people because of facebooks ownership and all the infrastructure that that has provided i think well hear a lot from them about how they face a lot of competition in the advertising space. Zuckerberg and Sheryl Sandberg making a big push recently to help Small Businesses who are the majority of advertisers on their platform he do expect to hearing some questions about other issues that facebook has, the proliferation of hate speech, the spread of misinformation and questions about manipulation around the election. So i think those questions are about to come up, but zuckerberg will say they got big and successful the oldfashioned american way and abiding by the laws. Julia, you raise a good topic. This is about antitrust, but were likely to hear about a number of other issues, as well, julia, right i think this is an opportunity for the lawmakers to make a number of points. Obviously antitrust is what is most in focus, but i think we can definitely expect to hearing questions about the issue of hate speech, which is an issue particularly for facebook and google, which owns youtube then for amazon, theres the question of how their employees have been treated, so theres so many different issues at play, and i think antitruth will be first among many. Whats tim cook going to face today, josh, do you think . Probably, scott, a lot of questions. He has to go head to heads with big entrenched rivals from samsung to google to lg, 46 of smartphone shipments in the u. S. Were apples, according to thirdparty research we also expect a lot of questions about the app store. Listen, there have been very wellrespected highprofile developers that have taken a shot at the app store. It doesnt look like cook will stay that lying down hes going to argue there is choice for consumers, about 2 million apps are available, that most apps are free he sounds like when he does charge a commission, that rate, that fee is largely in line with other digital marketplaces, but we know some of these lawmakers on this committee have certainly been talking very tough about apple and its app store. Temperature i cant wait to hear that everyone has an argument that they have a range of rivals, and i wonder if there would be any backant areandforth if one of the ceos makes a comments about his company. Certainly you have heard pel tim cook. Go ahead, dee, then julia inch i think josh was going to probably say this, too youve heard tim cook talk about privacy and where the we rarely hear jeff bezos or amazon as a whole talk about the competition. They like to say they are so laser focused on the customer, how to give them the best product, but in the prepared remarks, her does talk about competition, names walmart, kroger, target as competitors, even named some incumbents by shop fit and inns that cart. Theres two groups of incumbents, one that has been struggling to competent with the behemoths in the room, buzz there a growing group that are providing genuine competition. Julia i think we will hear about tiktok today Mark Zuckerberg will point to tiktok, which is owned by a china company, by the example there could be a new social plats form, and hes going to say you said to enable us to continue to success, because we believe in American Values of free speech. You want to be cautious of the rising power out of china. And we saw the recently ceo of tiktok, and pitch for his own political gain i think it will be interesting to see what context tiktok has put in right now, sort of this example of a Successful Company and chineseowned one. All these companies have different business models. Yes, they do compete with one another. The president of the United States is paying attention, too, just tweeting within past couple seconds, that if congress doesnt bring fairness to bick tech, i will do it myself with executive odds in washington its been all talk and no action for years, and the people are sick and tired of it. I guess the president and his team will be paying attention to what happens here on capitol hill to your point, scott, ive been trying to get some information from the committee here. No confirmation on whether well see a delay or how long this delay will be, but i think that one of the things that tech ceos can do here is take advantage of some partisan divisions on capitol hill, which really differentiate this hearing from what we have seen from the big icon business moments in the pass take a look at the issue facebook, social media, its influence in the election. At the democrats see facebook as setting itselves up for manipulation by the russians in 2016 they really resent the way facebook was used by russian intelligence to spread propagan propaganda they are concerned it will happen again this time republicans look at facebook, and twitter by extension, which is not here today, but clamping down on conservatee free speech. Because they say thats going to hurt or ability. If youre a tech ceo sitting in the hot seat today dealing with all of this, one of your strategies can be to navigate the seams between those partisan division and escape some of the direct confrontation if this congress and panel was more political unified. Its worth noting, eamon, were looking at the stock prices, and all of these are higher today, and we bring in steve weiss. You own all four of these stocks what do you expect to see today . Will there be any reaction to the shares if Congress Really wants to break up thinks companies, number one, it will take years to do. Then youll see perhaps these companies are worth more broken up than they are as one entity and the valuation, for example, appear 8s app store may be it increases, and you get a higher multiple because its primary a phone manufacturer now at the end of the day, i think what youre seeing now is what youll see when everything is done there will just be nothing here, with a not of news headlines, and so forth form we do have to watch what happens in europe i guarantee theyre looking at this, listens and they have taken a much harder tans that the u. S. Made. Its its fairly limited, you can think what he can do from an executive order, and then you have to go into the bigger pictures what you think would come from all of this, and what the potential hit would be to any of these Companies Earnings right, and there is bipartisan support not that that is any remedy for breaking the deadlock from an executive order standpoint, it would be challenged beyond the election so it may keep these stocks in the news, as we saw briefly, when you saw apple taxed in europe, in ireland, because by the eu, because they didnt pay taxes in ireland you would rather not see the Political Risk there, but at the end of the day its what they report do you really want to be the Congress Person who says we think amazon has a monopoly, that they put people out of the business, they dont charge enough. I dont think thats a good position to be in for the consumers who vote and keep these people elected were hearing 1 00 p. M. Is the start time there were some other hearings taking place, so the top of the hour you have to wait 45 more minutes, and we will certainly take you there carrie firestone, you own all four stocks yourself as well what do you expect i dont think that today is the most important factor in the trajectory of the stocks, because the ceos are extremely well prepared. This is a hearing that theyve had a lot of time to think through. What is it that theyre going to face the critics will be somewhat hostile, everyone on capitol hill has an agenda this is not the time, however in the Economic Cycle and this environment. Remember, were in a pandemic. We have a recession. Nobody is there. Literally theyre all virtual. So the country has so many more issues to face rather than sort of cracking the whip on some of the fastestgrowing businesses in the world not to say that they are blameless. There are issues about monopolistic behavior, competition, privacy, and freedom of speech and access, but we all know that the world has phone cussed on social media and looking at their phones and screens for months in and out. These are the companies that bring products to your house and allow you to communicate with each other they had to get through it, is there going to be a big impact on the stock price i dont think so one of them reported a very disturbing quarter in the next bay, that might have moran an impact theyve been resilient, able to keep selling, keep producing, keep servicing theres no reason to think thats going to change anytime in the near future you did so with a zone i know youre a holder of apple. So the least concern that i have as it relates to apple, tim cook has a very strong relationship with both lawmakers, republicans and democrats. I think it is interesting the presence the firsttime appearance of jeff bezos before these legislators. If there is to be an impact, i dont see that there will be a Significant Impact its only going to be if they turn on each other i think thats where lawmakers could make some headway here the ability at the ask amazon about production that they dont allow to be sold so turning the ceos on each other, i think youll be able to get the lawmakers to the point of where they really want to be, which is better education, better understanding, and the potential to improve the environment other than that if were just asking siloed questions to each ceo, i dont expect much impact at all. 24 hours later, youre going to get earnings that will be far more important its the quality of the questions you get as well, right, eamon you raised a really interesting point i think earlier, about some of these congressmen and women he who will be asking questions who have received political donations from some of these companies. Yeah, in fact she so thats one of the things that im going to be looking for take a different tack in this questioning. The older members go first they try to have control over the questions, but remember, individual members of congress of their own political fife dom. Theyll ask whatever they want to ask, and thats why each get some inconsistent question iingo they have more competition or less we heard the president say theyre looking at tiktok, and considering banning it the committee that reviews Foreign Ownership of u. S. Assets is looking into the company. One of the options they have is banning that outright from the u. S. Shores. The second option they have is forcing them to sell it, and who would the buyer be but one of these big tech giants . Third op is they can force some regulation or some rules in place, and some agreement with tiktok not to send the data that they have on americans back to china, mainland china. You would think they would say, hey theres a lot of competition here, but theyre considering banning that company altogether to what degree do the ceos that youre following expect some form of regulation to come out of the all of this maybe not theorscase scenario, but at least preparing themselves that something down the road is likely to happen today they have an opportunity perhaps to get ahead of that well, look, Mac Zuckerberg is asking for more regulations. He does not want his company to be broken up, but specifically in his prepared remarks calls for more regulation when it comes to things like what kind of content should be allowed on the platform he says he wants more regulation from the government in terms of that hes trying to pivot the focus away from the antitrust, and saying please make regulations on these other fronts. I think theres an expectation there would be some additional form, they just want to make sure they have some hand in krafthing it dee, amazon has mostly stayed out of the fray when it comes to issues of antitrust. Im wondering to what degree jeff bezos may be anticipating questions about tax policy, for example, workplace regulations, issues that have been raised, and how, you now, there are some writing, for example, an opinion piece in New York Times that amazon has too much power, take it back. Thats a quote today from their piece. S that is a great question jeff bezos has asked for more scrutiny he says that amazon is only doing its job if they can welcome that scrutiny, make itself better. Behind closed doors, im not sure if you see that same kind of confidence heading in the hearing. To the Traders Point and the skepticism this is only theater, i think in the long term if the committee can stick to the antitrust issues, perhaps stay away from the labor issues that are extremely important, but not what this hearing is about, there could be action in the real future. The fines that are levied, and not to basically speeding tickets, they pay them, and they move on. What congress can do is shape the new laws and regulations that could reshape the digital landscape. That is certainly bringing the stakes extremely high. That is what all the ceos have on their testimonies will inform that. How high are the stakes, do you think for apple, josh lipton i love the idea of the executives asking each other questions, that would be Good Television tim cook values privacy. Does he think that shields him in some way from some of the criticism that maybe some of the hess bigtech peers are getting. I heard eamon talk about the president s tweet, if congress doesnt bring fairness to big tech, he as going to do it himself. The people of the country are sick and tired i wonder exactly what is sick and tired. Who is simmering Roger Mcnamee was just on, and hes been simmering, but if you look at surrays, how do americans family about google, amazon, apple, those favorable ratings are very strong. The if youre a lawmakers, im going to be interested to see how much you push today. The people who tell you, theyre using google meet. They just bought a new mac thanks to amazon they havent hit a store in months. I cant wait to watch. Jon lebenthal who has joined us via phone. Jim, lets get a comment from you. Sure, scotty, i also googled alphabet as well im going to agree with the rest of the traders and most of the reporters, this is not likely to affect their share price in the short to intermediate term the only thing i would affect it is the advertising boycott that weve seen somewhat picks up is there enough negative pr that has advertisers to join more boycotts i dont think that will happen i think theyre too important to the advertising world. Thats the only real worry i had. I had someone else trying to make a comment who wanted to Say Something . That is me. Go ahead, eamon. The president has two main criticisms one is really about social media, but more importantly to him twitter. The president has complaining recently about twitters trending topics not being fair what the president is concerned about is himself, his supporters, and their ability to get that are message out on social media thats a big one for limb and conservatives. The other thing that angers the president ,ever bezos, who owns the washington post. The president has alleged time and again that jeff bezos is using it as a political countud. The president is very suspicious of jeff bezos. Its really about that, on sort of the geopolitical and economic stage. All right. We appreciate it, everybody. Again, the hearing delayed until 1 00 eastern time. It was supposed to take place at 12 00 noon i appreciate everyone doing a tap dance with me for the last 30 minutes well be back momentarily. A number of other stocks are on the move tayod well get to some of those when we come back music anncr give customers access to precisely what they want, when they need it the most. With adyen, the payments platform that delivers convenience for all. Adyen. Business. Not boundaries. Welcome back lets get to the headlines from sue herera heres whats happening, federal agents will start leaving portland, oregon, tomorrow Governor Kate Brown says it will happen in phases with Oregon State Police taking up a, quote, robust presence in their place in arizona confirmed cases rose slightly today, but remain below recent highs, and hospitalizations fell for the seventh day in a row however 84 of that states icu bets remain in use President Trump says he may accept the republican nomination at the white house and in a major move, the u. S. Is shifting its military headquarters in europe from stuttgart germany to belgium it is part of the president s decision to pull out about 12,000 troops out of germany you are up to date thats the news update back to you. Sue herera, a number of big earnings today boeing is the worstperforming stock in the dow jim, you own it, revs missed eps lost, though the ceo sonied pretty optimistic earlier on this network. Yeah, look, im not quite sure how to say this, but it was just a question of how bad was this quarter going to be its totally flipped its about 56 , we know that business is terrible right now and the you about you know, the defense business is growing really rapidly now its the majority part of the business. Steve weiss, whats your take away from earnings so the stock was looking up after reported earnings and traded down, but look, this is the economy coming back. Its increasing demand, and its also the fact that used car prices continue to spike im staying in there im glad to have this to balance out the tech in my portfolio look, it was a very good report, okay i think if you ask why is the stock down in if they want to flip that around, they have to put the dividend back in. They named it a top pick . Visa reported a 20 drop. Not unexpected people are not traveling, not going to hotels, restaurants, around the world so leisure has cut back enormously the amount that people are spending. Theyve been able to generate about 800 sorry, 8 billion of Free Cash Flow this year. We could get back to the travel growth weve had before, and until people are comfortable with people around them. We continue to own this stock. They bumped it. I know, thats a pretty high multiple certainly is. Whats your takeaway you look at the quarter, and they are slowly increasing back to where they are a year ago, so samestore sales people are going back to starbucks. The company is well run. China is doing well. So not a surprise that its rallied off of this news. I dont know that i heard jim say he made it sound like the quarter wasnt so good i thought the quarter was great, in the sense that sales returned very strong, surprisingly in july i say its an absolute buy, but outside the uss. I got cute, had owned starbucks previously, and sold out it, went into dunking, which is higher in sympathy my thought process is kleely starbucks is showing a very strong recovery. That might just be the better play i think im in the wrong name. So youre going to buy starbucks then im going to hold dunkin into earnings, but that starbucks was a strong earnings. You just made a huge bay to buy starbucks at this level. Im going to try not to make too many moves i made a bad move getting out of the starbucks. Im going to see what dunkin reports, and then react accordingly. I will certainly let you know first. I appreciate that. I might even text you. All right ill expect a text momentarily, knowing you. Were ready to answer use you are questions next in halftime report. Send in the questions. Thats coming up next. Feeling stressed . Try new natures bounty stress comfort. Three unique gummies for your unique needs. Find peace. Boost mood. Sleep well. Stress comfort comes naturally, only from natures bounty find a stock basedtech. On your interests comes naturally, or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Welcome back joe, the question from jackie in canada i have a small position in Morgan Stanley should i add, hold or trim it . Jackie, i have a big position, but i wish i had your small position we had an 8 gains coming out of earnings im in this stock on the belief that the etrade acquisition was a good one in addition to that, i think active management makes a strong return, but i am not seeing the time of reanswer to the stock i would hope for im just going to hold my position im certainly not going to add to it. Aig, american international, is it a buy at these levels . Without a doubt its a relatively new position, six times earnings, 4 yield i have pricing in the industry thats the best it is been, if i gave those parameters to you, you would say, well, thats very capital intensive. But its not its a Financial Company and insurance company. The stock deserving to double from here. In the meantime ill take the 4 , but i think it goes higher jim, your best suggestion for medtronics or a mel device stock is what . You may realize, relatively new position when were through with the covid crisis, i think devising are where you want to be for an aging demographic across the world. Very attractively priced i think when you get past covid, it starts to rally nicely. Okay, carrie, robert wants to know about Charter Communications is it a buy right now . Rob, we followed charter for years. Its at an alltime high would i add a full position . Perhaps not just because of price, but its a domestic play, and an environment that people use wifi constantly in their home you need to upgrade it it services that entire world of remote communication, and seeing people through your wihy wifi s also what charter does joe, back to you, scott in scranton, would you sell nike before earnings, joe if we were to sell it, where would we put the money i dont think so. Multinational, actually quicker outside the United States i like nike here its going to report earnings in september. I think youll see triple digits very easily for the stock. All right weiss, virgil in florida fedex or u. P. S. . Im with u. P. S. It reports tomorrow. Imlooking fog a good quarter stocks had a good move, up about 20 since i bought it, but at this point in time theres little divergence in the price chart, but u. P. S. Does have the better yield i wouldnt own just for the yield. I think management has done a better job recently than fedex. Jimmy, id like your thoughts on Marathon Petroleum its outperformed the other ref reniners i think right now the street says it will be sold between 15 and 17 billion. However, it had go for 17 to 20 billion. I would still around for that fine price tag that had change marathon very positively. More trades ahead, and as a radio he minder, watch us on the app. We are back after this bling see, incident resolved. How did you. Gotta enjoy the small wins. You keep being you, derek. Keep being you. An army family who is always at the ready. So when they got a little surprise. Two . They didnt panic. They got a bigger car for their soontobebigger family. After shopping around for insurance, they called usaa who helped find the right coverage for them and even some muchneeded savings. That was the easy part. Usaa insurance is made the way liz and mike need it easy. Our call of the day is sherwinwilliams lets go through it. Carrie, you own the stock. Listen close 734 at credit suisse, 727 at citi, 7 at deutsche. What do you say . I love them all i think the stock is going higher you know we talked about this several times. Sherwin has turned out to be one of these covidfriendly stocks everyone is at home. Theyre doing it themselves, and they are painting, renovating, so this has been a great period. The quarter was good we expect 15 growth next year its not a cheap stock its 27 times next years earnings, but its got a lot of Free Cash Flow the stores themselves are doing well construction has reopened in most of the country, and thats all good for sherwin even the valspar acquisition is going well they have made some very good choices over the past couple years. Again, theyre operating well in this very tough recessionary environment. Yes, we like it. You dont worry at all that the favorable trends you just mentioned are peaking . I saw some suggestion today that the whole do it yourself, do it at home, et cetera, et cetera thing may be peaking thats why the stock has had the run that its had. Well, you can always make that case. You can look at amazon, the stock should pull back, because the trent tore at home and order everything in is peaking, but we feel theres a definite move toward remote working. It might be able to country in two, three years, but you continue to have Companies Say were happy to have our employees work wherever they want home sales are much stronger than we expected so you see people moving they renovate. They paint there doesnt soo emto be that major, you know, drop in interest, in renovating and redoing houses what youre saying could have happened, but its not happening yet. Lets get to rahel solomon who has another stock today on the move. That would be for shopify it was well beyond expectations, saying that covid19 led many businesses to adopt the platform to take sales online, leading to 97 growth in their top line compared to a year ago taking a look at the stock, its been on a tear, up13 this month, 127 in the past six months, 170 user to date. Correct me if im wrong, this is one of Kevin Olearys plays. So shop dify, its been a really good year for a stock and apparently a very good quarter. Maybe, rahe level, maybe not fully, but at least it puts a bit to rest the valuation is too big, one of these highflying stocks joe, you know, maybe its justified. Maybe a lot of these other companies that have risen aric looking at this saying, see . Thats why or stocks you are up, our businesses are up, rahel was saying 97 growth. Where else are you going to get that right anywhere to what she said as it relates to online sales, gross merchandising, volume was up well over 100 this is the ultimate growth story. Again its a name i owned previously, got out of way too quick. I think its a ferret name for jim cramer the Analyst Community has not come around on todays earning the 12month price target is only 877. Because they missed it. Its not coming around to it, they missed it well, and theyre not coming around to it there is 13 buys, 18 holds and three sells, but for a lot of these growth names, scott, as the price moves higher, youre going to see the Analyst Community raise their price targets to align with the price appreciation im very surprised that youre not seeing that in shopify and history of the markets will teach me that only suggests further upsides ahead. Rahel, you know better than anybody, you look for these stocks for us every day, and price targets do, to joes point, continue to go higher and higher and higher as the stock prices continue to appreciate. Yeah, thats an absolutely great point. The average price target right now is 891. Joe said it before i could say it, the stock certainly trading more expensively than the Analyst Community thinks its worth at this point. So watch that space, of course, as we continue to watch these stocks every day well let you know if we start to see those price targets raise. But right now, as joe mentioned, the street not quite as sold as the market we know you will. Thank you, rahel ceo, by the way, of the company is on closing bell later this afternoon, so you get the story ig from that gentleman right there. When we come back, well have more trade moves to tell you about. Well do it next its smarter Trading Technology for smarter trading decisions. Fidelity. In a highlyconnected lexus vehicle at the golden opportunity sales event. Lease the 2020 es 350 for 359 a month for 36 months. Experience amazing at your lexus dealer. I mentioned we had some other trades to get through. You did some interesting things. You just texted me saying you added to moderna this morning. Lets do that one first. Sure. So i have a core position in it. I bought a trading position on friday on the patent news, then sold it on monday, still out by core position. And today there is more opportunity because of the pricing on the covid drug. So the retail people that are in the stock really have no clue, in my view, about what drives these companies, so i take their missteps as opportunities. I again bought a large trading position to top my core position this morning interesting nikkola, what are you doing there . I sold my puts. Ive been in since the 60s. I think the management is subpar number one, they bridged the number 2 stocks for sale while the ceo and founder cant sell until december, theyre way ahead of their skis on this. I hope they make it because im all for green, but to me there is a lot of issues here. Its way, way out in the future. Hes no elon musk, thats for sure but you dont have any of the same concerns as it relates, and you have to be quick, to moderna, how promotional that company has been i could hear you saying the same things you just said about nikkola about moderna. I disagree, i dont think theyre promotional at all i think the ceo, the largest shareholder, has sold some stock. I think its uninformed that so many people come out and say theyre hyping it, theyre hyping it. Everything theyve done is by the playbook its disclosed more than j j where they hid the talc issues since 1971 i appreciate people being tra e transpare transparent. Well take a break and do final trades next. Welcome back better late than never these four gentlemen right there expected at the top of the hour to testify virtually before that subcommittee on antitrust. Jeff bezos of amazon, tim cook, Sundar Pichai and Mark Zuckerberg carrie, you are up next. Im going with bsx. The numbers were a lot better than we expected a thousand points better on the margin line and i think they have a very strong pipeline of diversified devices and businesses starting to improve in hospitals at rick of beisk of being bos General Motors it was a much better quarter than the stock price would suggest. They got things going very well in china theyll be selling pickup trucks here as we continue to reopen. Thats the right final trade for me you even got steve weiss on your team. The fact that you guys agree on something, and even this, is even more astounding, i have to be honest. Steve, go ahead with your final trade. Every day i wake up and say, am i right being in gm jim is there im happy with him on this one akamai report last night, they beat, they raised. They are hurt by covid also because of sports not being on the air or just coming back. So i like this one great option by a company thats growing fast in the market, selling at a discount to the market all right joe . Last but not least great quarter the other day for the nasdaq active management is back. A lot of Trading Volume is tran transacting. I remain long on the nasdaq. We appreciate that. Thanks, everybody. It will be interesting as we count down to the hearing on capitol hill with the tech titans with that i hand it over to kelly evans and the exchange. Thank you, scott. Hi, everybody. Welcome to the exchange. Its a big day for investors and for washington the ceos of the worlds Biggest Tech Companies are about to testify before the house antitrust subcommittee it was supposed to begin an hour ago. It was delayed, thats why were here now, but it should begin any moment as you just saw from that live shot of whats going on on capitol hill this is the first time that all four executives, jeff bezos, tim cook,