Good thursday morning. Welcome to squawk alley. Im jon fortt with carl quintanilla. It is cloud week on squawk alley. If you were betting against snowflake, wur oyoure out in t cold this morning. That stock up is 12 same for Cloud Security and authentication specialist okta were going to talk to the ceo to see if this thing may stabilize from here or go higher splunk, that is the sound of a cloud stock dropping 22 after missing Sales Guidance for the third quarterer in quarter in a row. All this happening as amazons cloud conference is in full swing. Salesforce announced the second Biggest Software acquisition ever and we started the week on squawk alley talking to ibm president Jim Whitehurst who came to big blue in what and is still thelargest Software Acquisition ever redhat driven by a hybrid cloud. Julia, investors are betting on further growth from already heady levels we can certainly see that in what is happening with snowflake this morning it is reapproaching the highs that so
Anticipated ipos cnbc confirms that doordash and airbnb is expected to release the valuations in the upcoming s1 amendments and particularly door dash seems to be employing a technique that weve seen before from epic in doing this ipo pricing process and also getting quite bate of interest because of the pandemic right with so many more options like a three main options on the table now to go public, its interesting that door dash is forging its own way, elements of the traditional ipo with an auction process. Carl and jon, what is interesting about these two ipos, they were talking about this earlier, i heard leslie say something, benefitting in different ways from the pandemic also the strategy. They went to local smaller markets, particularly doordash going to the suburbs but, carl, you see airbnb, there were not many options to go to hotels or get great lodging in the smaller places thats all people want to do now. The they want to avoid the big cities and go, you know, outside of
The nasdaq just inches up. 2 . It spent a lot of time being way down of what a very ugly swoon the house of pain. I get it values is lagged investors are dumping gross stocks at some point today it is pretty much breathtaking fashion. Someone watching these rotations coming and goes over decades of observations tell me how it works well before we gotten the opening bell around 4 00, 4 15 every stock seems to be indicated higher it looks like a big broad base movement that could reverse a huge chunk of last week selloff between five and six being led by tech. There is just one problem. Inge investors have no idea whats coming in the next 48 or 72 hours or however long it takes to count the vote. Everyone is sick of the election they want to make some money in spite of it not because of it. I dont think anything will withstand the fire in the actual Election Results at least not the short term. Traders are determined to make money everyday they are refused to be deter by the virus or the
An antitrust lawsuit against google, characterizing its search and advertising business as a monopoly. Shares shrugging it off, up 2 well speak to a top analyst about what it could mean Going Forward for big tk and Tilman Fertitta is seeing bright spots in the country. Hell tell us where and why. Power lunch starts right now let me welcome you to power lunch as well take a look at some of the big names we are watching today. Netflix slightly higher ahead of its earning reports, that stock down about 4 . And no earnings boost to ibm, thats the biggest drag on the dow after reporting its Third Straight quarter of revenue declin declines and financials one of the best performing sectors thanks to regional banks, helping the rest of the group kelly. John, thank you we begin with the two big stories out of washington today. Elan has the story but first Kayla Tausche is tracking new developments on stimulus aid reporter today marks the end of the 48hour window that nancy pelosi set to reach
Experts stress that is not uncommon to do were going to dive into that one in just a moment in the winners, 2020, reversing slack is plunging, lululemon is lower, nikola is down after it was up sharply yesterday its been a volatile last few sessions into the close. 59 minutes left. Certainly has been volatile welcome back, sara, having been off. Ahead of the upcoming debut well speak with Venture Capital investor about his bet on the company which started many years ago and how this ipo might do. Plus shares of retailer five below, more than 40 from the lows well speak with the ceo about whats driving this recovery you wont want to michigan this interview. The one and only Shaquille Oneal about the new effort for Financial Inclusion and access to capital in america. Shaq is coming up later in the show lets focus, first of all, on the stories. New details on astrazenecas decision to pause its vaccine trial. Mike, lets start with you and this big bounceback today. It is a pretty big boun