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
Google all on tap. All that and much more is coming up this hour power lunch starts right now kelly, thanks im scott wapner welcome to power lunch our reporters are all over every ae angle that matters as you know, today the busiest day of earning season. Meg tirel is watching the race for a vaccine as coronavirus cases continue to climb. And Steve Liesman has the details of a muchexpected gdt report hey, bob before we get to earnings, were having a nicely midday rally here let me show you the s p. Some technical aspects we broke above the earlier highs in the day. People do trade on technical calls on in kind of market you see that nice, quick, steady move up here there may be seasonal aspects coming into play, art cashin noting were moving into november, a seasonably strong period of the year for earnings, the early reports have just been spectacular here, generally half of the s p reporting now, 85 beating expectations and the key story is the average beat about 19 , way above the h
Only given consideration to more recently because of the phenomena. Well end up meeting the ceo a couple of months or whatever after we have made an investment it puts greater burden on us for Due Diligence and for the backgrounds of the people who are involved and the experience. Its probably going to end up with some good results actually. Thats interesting. Weve had some discussions on air about the degree to which lack of persontoperson meetings means can you close on a house, can you close on a transaction, but youre saying its not necessarily a deal killer it definitely is not. I think that will be for early stage companies. The Later Stage Companies where theres more substance involved and theyve been around longer is a bigger problem. Were in the early stage, a round, b round, period i think well have less of a concern about that we also obviously are focused a lot on follow on rounds for our existing portfolio which is fairly extensive at this point hi, alan, its jon fortt, go
Years of trade tensions. We have his exclusive interview. And we look at the competitive space of rental kitchens. First, to our top story. Apple says it is considering bundling its Digital Services including news plus, tv plus, and digital music. Get more bid to subscribers. The tech giant is already experimenting with this kind of approach, offering free subscriptions for tv users to apple music. What are we bundling and why . Said, apple wants to bundle together different paid services. They have had apple music since 2015. They came out with four or five new services this year. They want to lower the price if you subscribe to multiple. Right now, apple music costs 10. News plus costs 10. Play payorage, i three dollars a month. To 40 or, it adds up 50 depending on how much storage you have. Imagine being able to get month. Ing for 15 a that will generate recurring revenue because people will want to subscribe to Additional Services and save money by doing so. Taylor i get that, exce
Exclusive interview with bloomberg news. Cooks in the kitchen. We will look at the now competitive space of rental kitchens. About a startup called virtual kitchen. First, to our top story. So apple is considering bundling its Digital Services including news plus, tv plus, and digital apple music. Gainis seen as a bid to more subscribers. The tech giant is already experimenting with this kind of approach, offering free apple tv plus subscriptions to student users of apple music. Through. K me what are we bundling and why . Mark thank you for having me. Like you said, apple wants to bundle together different paid services. They have had apple music since 2015. They came out with four or five new ones across 2019 this year. Cheaper too make it subscribe to them by lowering the price if you subscribe to multiple. Right now, apple music costs 10. News plus costs 10. If i have storage, i pay 3 a month. There is apple arcade for five dollars. There is apple tv plus for five dollars. Altogeth