Netflix shares also in the red. I spoke with Reed Hastings for his thoughts on how the pandemic would affect the industry and how he sees the streaming wars playing out. First, a deep dive into what is moving after hours. Slack moving after the bell. Shares plummeting after filling fell short of analyst estimates. Abigail doolittle has been looking at the numbers. I just got off the phone with the ceo of slack, who focused on the demand they see accelerating in paid customers. They are still not seeing still not giving guidance. Afterch a dramatic impact hours . Abigail one thing investors do not like is uncertainty. Also, in terms of the billings miss for the quarter, it was not huge, but 6 . You would think that folks would be using the messaging platform during the stayathome days, but it signals the idea that some of the small and mediumsized businesses are hurt enough, signaling that slack could be a nice to have Technology Rather than a need to have. This stock really getting plu
Speaker pelosi says its absolutely absurdly unconstitutional. What will they do . Go to court to stop people getting the money . Right before an election . Good luck with that. The president s playing political hardball. 84 days to the election and again, the money will flow. Investors like it, by the way. Looking at the futures, the dow industrials will open this morning with a gain of about 100 points. The s ps going to be up about four. The nasdaq, up about 13 as we speak. The president s playing political hardball with china as well and beijing is responding. Jimmy li, a leader of hong kongs democracy movement, has been arrested under the new security law and china has imposed sanctions on u. S. Senators, including marco rubio and ted cruz. Now, that is escalation. Dramatic change may be coming to a mall near you. Amazons in talks with americas largest mall operator, Simon Properties simon group properties, to use some Department Stores as fulfillment centers. Amazon gets cheap spa
Our ability to be able to respond to that demand a really predicated on the number of individuals that we have to serve the Business Community. The San Francisco business portal was up until this last year was being managed through Digital Services and we are not going to be doing any more Technology Enhancements to the business portal. Much of what was being planned, it will now be service through the Onestop Center at 49 south venice. Were talking about equity and the individuals that our business councillors serve. The highest percentage of who we counsel are businesses in their prestartup mode, which is very critical because this really helps the businesses know what is ahead of them so that theyre planning early in advance of what are the citys requirements, connecting them to resources, so if they have not drafted a business plan, were connecting them to one of our Economic Development organizations. To help them with that. If theres a need for access to capital and financing, we
Steepening and broadening and a lot more this is one of those rallies that not only is taking people by surprise, but continues to roll and were seeing major gap ups i was mentioning on squawk major gap ups in the morning more of the 1980s action and its very interesting because stan talked about his views of the 1980s and theyre pertinent as ever. We have incredible and we have a president who wants new highs and we have stocks that are recovering well ahead of the fundamentals but some people can say that is what should happen look at the airlines we are hhad some numbers from pl lebeau and almost as if people decided covid is over and its a vshape rally and you better get on board and that makes you a little uncomfortable. Well, i just think that the friday rallies, as sweet as it was off the unemployment number has not put out any sellers, carl and i often think that there have to be sellers at a certain level. I mean, can you really take the banks up so much when there was so much
When youre called for Public Comment, mute the device youre listening to the meeting on. When its your time to speak, you will be prompted to do so. Youre limited to three minutes a speaker unless otherwise established and speakers are requested and not required to state their name. Sf gov tv, please show the business slide. We will start with the Small Business commission this is the Business Forum to voice your opinions that affect the Economic Vitality of Small Businesses in San Francisco and this is the best place to get answers about doing business in San Francisco about the local emergency. If you need assistance with Small Business matters, you can find us online or via telephone. As always, our services are free of charge. Before item one is called, i would like to start with thanking Media Services and sf gov tv for coordinating this visual hearing and special thanks to michael for moderating the Public Comment line. Please call item number one. Item one role call . Item two,