Were going to get smarter on that with our guests this hour take snow dflake, that recordbreaking debut you heard about all morning, priced at 120 now indicating 19 to 195 the largest software ipo ever. Their thesis, a new way to work with data in the cloud those indications as i mentioned way above the ipo price. The ceo joins squawk alley right after the first strad. And theres adoe bee ahead of last nights earnings. They reported 15 Revenue Growth the best q3 in the companys history. Stock is taking a breather in the early trade. Well ask ceo about that in just a few minutes. And dont forget about apple its mac and ipad lines got a boost from work and learn from home imperative. Major Tech Companies like apple are leaning into the work, learn and kperds from home phenomenon. The new way of working is rich the real question here, guys, is future upside already baked into these valuations, carl boy, just look at those snowflake indications. We went into this morning, jon, looking at h
Good Tuesday Morning i am Carl Quintanilla with Morgan Brennan at post nine of the new york stock exchange. Jon fortt is in los angeles at the adobe max conference his sit down is a few moments away with Shantanu Narayen we start with uber shares down, despite the beat as losses for the quarter top a billion. Guys, good to see you. Dan, how much is this downward trajectory in price driven by model complexity relative to competitors . It is a small piece here, no doubt this is a black eye quarter for dara and uber, missing ridesharing metrics. You combine that with what theyre spending on eats, thats the one, two punch sending the stock down, could be an avalanche with lock up expiration. Do you buy the target of adjusted profitability by 2021 i do. I think it is not as much stretch as it would appear to be you look at the core ride share business, they came out with segment margins this quarter, 22 , a four percentage point improvement from a year ago. If they continue on that pace of
Interesting selling that well document. Im trying to figure out, guys, steph, what we learned this week, right. So the economy is humming, humming along, cooling a little bit. Jobs beat, Unemployment Rate goes up. Wage growth moderating. January jobs revised lower. The fed will cut. We learned that, too, right . Powell said as much. Yields are at a onemonth low. The ten year was falling today and the rally, as i said, up until a few minutes ago, at least alive and well. New records for the s p and the na nasdaq. Sum up this week what your big takeaway is. We are, in fact, soft landing. When you look at the jobs numbers, todays number, you have to do a threemonth moving average, scott. The revisions are crazy of what weve been seeing, but we have 265,000 jobs that were created over the last three months, 4 average Hourly Earnings, that is coming down. Even last months january report, the average Hourly Earnings on a month over month basis came down. We are making progress in terms of in
Of technology. Were worried about it inflation, no doubt about it but were hopeful about how Artificial Intelligence can bring all costs down we dont like housing prices staying stubbornly high. But we see how amazon can bring down the prices of drugs and groceries. Thats how ive come to view this market. We get the crucial price index tomorrows game and. The dow dipping 81 points. The nasdaq advancing 0. 9 . We did break the dows winning streak, though the last down day was april 30th thats pretty darn amazing we want to look at this moment as a dichotomy we want to say sure, the drug prices have come down. Havent come down all that much. But have you looked at biohive 2 . A new ai supercomputer to speed the work of scientists and health care that was introduced today . Have you see what occurs the nvidia back drug developer we had on friday is going to do with it . Maybe they can use the machine to speed up the discovery and Development Time every second counts. How many hard to cure
Getting through as many as we can. Its a jampacked two hours. Why niles shorts amazon on the back of the deal, and former walmart ceo, bill simon, why walmart has more to worry about other than amazon. Bill miller, a bull on the stock, and talking to him about valeant, and alexander accosta reacting to President Trumps comments on cuban policy lets get to it we have details of the amazons deal to buy whole foods and what it means for rivals. Mike, this is a little bit of what it means because ramifications have many, many ripple effects, but the deal to buy whole foods makes it amazons biggest acquisition to date, and one thats royaling grocery and retail stocks. Amazon says it will maintain the whole foods brand with the ceo and cofounder somedaying at the helm, for now. The overlapping is high already, and the stores are are located close to many amazon distribution centers, which is an interesting point the partnership certainly arms whole foods with logistics and data expertise, an