Good friday morning welcome to squawk alley. John fort is on assignment today. Dow up is 67, just off the highs of the session the s p 500 tech sector is up 17 year to date despite a big selloff yesterday with a volatile and first half of the year what does that mean for this second half . More on tech stocks, lets bring in mark mahaney and jeff ritzer, managing partner at ggb capital. Im looking at the week to date action amd down six google down five netflix five facebook two is this turning into more than a two or three day phenomenon . Thats hard to know i dont think. So i look at these stocks and i look at them differently the highest quality names that we look at are off, 4 , 5 off all time highs i dont view that as a major change google, we have new news there the eu decisions and the fine and what is likely to be more of those going forward. I can see why that stock pulled in more. Netflix always has that kind of stretch valuation. Do you have to go out a number of years and di
It is so nice to be back, and i heard it was 70s this week. I am happy to be back. At least it will feel more like iowa weather here definitely turning colder. Even though we did have some warm temperatures, it was kind of grade. It was nice to be out, but it is not beautiful like it is but it is a lot colder than it was yesterday. 34 in durham and 36 in Holly Springs. Town by town it is 28 in roxboro with 38 at fayetteville and it is pretty chilly with temperatures in the mid to upper 30s and 52 at noon. Compare that to mid to upper 60s yesterday which was just it will be prettier today but noticeably cooler. Expect the same saturday with clouds and rain in the forecast and we will talk about how much we may see. It looks like a wet weather pattern. More in a few minutes and brian here with a look at the roads this morning. Lets take a look at the durham freeway out in Austin Avenue there in the distance. The traffic is heading northbound, and it is looking downtown. Or southbound rid
December. The road map begins with the markets climbing back. Dow and s p back for the year. Oil with a 4 handle. The bidding war for starwood. The hotel change taking a higher offer from chinese anbang. Now marriott has five days to respond. As twitter hits an anniversary, jack dorsey says where the company goes from here. The bidding war in process for starwood. The company that had reached a deal to be acquired by marriott some time ago for 0. 9 shares of marriott and 2 bucks per share, and a spin of this time rental business. Thats what im thinking of, right . This morning as we reported first and has been confirmed by the company, anbang, the Insurance Company from china, along with chris flowers and primavera, large equity firm in china have agreed to purchase starwood for 78 in cash this is 2 above the previous bid they made to buy the company, and a bid that has been accepted by starwood. Before starwood can sign that definitive agreement which has been fully financed, the deal
To 40 shelby, gastonia, charlotte, cloud cover thicker, winds up more, not quite so cold, again the sun doesnt come up now until 7 30, we have a lot of time where we can fall off. Temperatures tonight or today getting back up to 58 degrees this afternoon, below average but improvement over yesterday. We should see a lot of sunshine today. Keep in mind, much colder tonight in the charlotte area, we have freeze watches and frost advisories in effect. Ill break that down in the seven day planner in a couple minutes. Back over to you. John thanks, al. Were working to learn more about two driverses who were killed in a headon crash on i485 in south charlotte. Troopers say the crash happened at 2 00 yesterday morning. One of the drivers going the wrong way on the highway. Wbtvs Christian Flores spoke to neighbors who say they are surprised crashes like this dont happen more often in the area. Happens a lot. Reporter the family is used to hearing about accidents. Daily. Gets chopped up during
Bart was handing out snacks to hundreds of commuters. With no explanation for power surges, they will go on. Bart is getting more advice working with pg and e and outside experts. One car train that has experts on board, its going back and forth. Its trying to pick up that trouble spot. In all, bart has 58 cars, currently out of service, and 50 are because of this power glitch. Theyre even going as far as to scavenge other cars. A local state senator is blasting bart for how theyre handling the glitch. He gives his tough assessment to us. Reporter hes blaming poor leadership and financial management. They gave the highest paid managers almost 16 . They make more than anybodys making in the private sector and the public sector. Theyre railing against the plans for the November Ballot seeking more funds. They say they are taking the Maintenance Issue seriously and have for quite some time. We really need to be working together right now. If they want to put more taxes in the system, they