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
Happening here. We continue with this outperformance from the small caps. We continue with this rotation. Abigail we do, and today is relatively subtle. The outperformance came from energy and financials, which at the end of the day finished higher. Today we are once again seeing movement into the cyclical sectors even though the s p 500 on the surface is basically flat. The nasdaq 100 is lower. You were mentioning the small caps. The russell out another alltime high on the day. You again have investors moving to small caps, value, the cyclical sectors. Theres the financials. Industrials, energy, real estate can materials, all of the sectors in green are the growth and cyclical sectors. On bottom, you have tech and communication services. It is pretty interesting because tech is really being weighed on by apple right now, and they have cut their developer fees by to 15 from 30 . That is a pretty decent chunk of revenue in the past fiscal year, 1 3 of it to those apt of elements. That i
Distributed, how will be it done. All of this at a time were hearing about four 45 minutes from now president elect biden and Kamala Harris will detail their own economic plan. What theyre calling their Building Back better plan. I dont know what that means but they have got a lot of union heads there as well as the chairman of gm, the chairman of microsoft, the head of target. Again, virtually, if not in person. So well be monitoring that. When that comes up about an hour 45 minutes from now. Meantime more on this excitement around moderna and what it poses to offer right here. Jackie deangelis own that. Jackie. Reporter good afternoon to you, neil. The vaccine news certainly fueling the markets today. 94. 5 efficacy. That is what moderna is saying. We had excitement from pfizer and biontech last week. The market is saying we would expected or less efficacy. This is a really important number. People are wondering what happens next. How do i actually get the virus, excuse me, the vacci
Now to cover energy needs. Solar energy would then account for a quarter of the countrys power. I would post the number of orders for new solar park is growing fast. Whats behind the boom . In the last decade, solar modules have decreased in price to around a 10th of what they were originally. We can now produce electricity in germany for 4. 00 to 0. 06 per kilowatt hour. You cant do that in a coal fired plant or Nuclear Power station, even after the initial investment has been paid off. Back to germany because the owner of park project 10 years ago, the operating company was one of the biggest Nuclear Power producers in the country. They still burn coal fired plants, but that will soon be a thing of the power these new Energy Sources will have to fill the gap. Theyve become a central pillar in our portfolio. Since 2012, weve seen growth in all new and renewable segments, including wind both offshore and onshore, as well as solar. These technologies will account for about half of our o
A car or eating meat heaps more convincing. The economics of doling green thanks for joining us here, mate, ive been physical and you can get wind water and sun for free. So why have we been digging around for oil all this time . Well, the tech was still too expensive, but its not any more. And there are bigger and even bolder projects, like harnessing the force of the wind produced on the high seas. Now, even though the wind is a lot stronger there than on land offshore, pocs arent set to become the key to germanys Energy Transition. Our reporter wanted to find out why, for someone afraid of heights he took this is simon to a whole new level when meeting the founder of one of europes biggest wind farm operators. Im eating close my eyes who founded the energy company, w. P. D. One of europes biggest wind farm operators, w p. D runs clean energy parks on the andaman sea that produced a lot of power 1st. I have to prove i dont have 40 go to trial by me is 80 meters tall . Its pretty wind