Im Carl Quintanilla along with jon fortt. A big week for tech earnings amazon, intel, microsoft and twitter on deck this week on a positive start in the runup in tech continue dan and steve are here with me with answers good morning, guys good to see you. Im wondering, dan, before we get to the bignames, if you have been thrown as a breakdown of software and worries about i. T. Spending the next few years . You are seeing cracks in the armor. High multiple software crowded from the institutional perspective. Many head or the exits it is overdone in what we are seeing it shows the risk in earnings season continues to be front and center steve, quickly on that . I would agree software particularly has been taking a header. Companies are doing fine you sell at 38 times and 8 times sales, it doesnt take much to take the stocks down we will play it out a few more months before coming back. Dan, it is cloud week how much does that matter versus intel with insight in the i. T. Spending questi
Sources telling Cnbc Softbank is coming to the rescue and will take control of the company. Josh lipton has all the details. Melissa, thats right a new dramatic twist in wework story here cnbc is now reporting that softbank is in advanced talks to take control of wework, thats what sources are telling cnbcs own david faber, a deal could be announced as soon as tomorrow. It is softbank led by japanese billionaire masasan taking control here, after the move softbank would control nearly 80 of wework, prior to the takeover, softbank already invested nearly 11 billion in the company. Softbank economic marcello clarette will be involved in the companys management, former ceo adam newmans stake will fall to low double digits. Last month wework terminated plans to go public the prospectus revealed a huge 900 million loss in the First Six Months of 2019 Corporate Governance practices also causing concern thank you, josh lipton in San Francisco with the latest on wework talk about a down round
Risks to your money this week and in months ahead. The major averages under pressure still about 1 from all time highs which we have not seen since way back in july the dow is on track now to snap an eightday winning streak. Down about a half percent for the dow. Loss mitigated a bit power lunch starts right now from the would you say to wall street and oil hubs like houst houston, texas we have our reporters on hand to break down the impact. Lets start with eamon. Reporter were getting some headlines that are crossing the wires a about the iranian leader who is speaking in turkey right now. R the attack on Saudi Arabia Oils facility was assault on yemen. This is the president of iran suging that these attacks were carried out not by iran but by the yemeni people. They are exercising their legitimate right of defense. The attacks were a reciprocal response a new wrinkle there as iran has been blamed by some in the u. S. Administration for conducting these attacks. The president hasnt n
In the Senate Chamber at about 8 30 p. M. And walk over to the house for President Trumps first state of the Union Address. Tomorrow, republican senators join their house colleagues for a threeday policy retreat. The president pro tempore the senate will come to order. The chaplain, dr. Barry black, will lead the senate in prayer. The chaplain let us pray. Almighty god, the earth belongs to you and everything in it. And even when wrong seems overwhelming, you continue to rule. Create in our lawmakers a hunger and thirst for integrity and honesty. Give them pure hearts and truthful lips, accompanied by a passion to glorify you. Provide them the wisdom to live for the honor of your name, as they remember they are your ambassadors. May they look to you for help, knowing that you surround them with the shield of your favor. We pray in your holy name. Amen. The president pro tempore please join me in reciting the pledge of allegiance to our flag. I pledge allegiance to the flag of the Unite
The previous administration. We have a onceinalifetime opportunity to replace a failing tax code that holds americans back with one that actually works for them. In response Mitch Mcconnell tweeted, the senate is ready to provide tax relief and help bring jobs back to america. It is time to pass tax reform. Paul ryan says, i applaud the senate for passing a budget. The house not in session this week in the speaker took a serious tone on this on friday. Asked a series of questions. Hunting in football, two of my favorite things. I love to hunt. There are four teams we follow in my family. I didnt know this was a question. Brought worst simmered in beer for many hours and then cooked on a grill. Packers will face the winner of the afc championship. Season seven of game of thrones, i think it is the best tv ever made. What i did not see was the dragon, i did not see the white walkers and the night game basically riding his own dragon. That one surprised me. You can see john snow and da ne