Buyer beware, ipos that have doubled do not have a great track record after the debut. Plus the president and tiktok, he says hes not prepared to sign off on anything for an oracle tiktok deal. And wall street poised for a sharply lower open following the feds pledge to keep Interest Rates low for years and Technology Stocks do lead the declines speaking of which, jim, sounds like your conversation with joe a moment ago kind of rings with what Credit Suisse says today about tech valuations overall, that is that there is some excess and theyre lightning their weight at least on software. I count 30 companies that are selling at 30 times sales and then theres a number, even more, maybe another ten that are selling above that, 50 times sales for zoom along comes snowflake at 100 times sales. You just have to put the stop sign up because what it says is theres going to be so much supply that is coming. Look, if you own a company youve been waiting for it to come public you just got the gre
Good thursday morning, welcome to squawk alley. Stocks did take a leg lower at the open the s p bounced right off of the 50 day well watch that closely but were off of the low levels of the early session. Here is the president yesterday on oracles deal with bite dance stands you said it was important that a u. S. Company buy tiktok. Were going to find out about that were looking at that from the standpoint of bitedance. We dont like that conceptually we dont like that. That has not been told to me yet. That has been reported but not told to me speaking of reporting, david faber has more of that for us. Not a lot of insight on that key question siting a source close to the deal, the conversations, that have been ongoing for awhile now. The president is most likely to make a decision in the next 24 to 36 hours. Not likely today, but prior to the weekend, im told, by someone familiar with the situation that he will make a decision as to the future ownership of tiktok here in the united st
Really are ramping up our testing efforts. But we also saw an increase in hospitalizations and ive talked with our heart Health Officer doctor erica, hahn and shes quite concerned by this increase in cost for patients, shes not at this time planning to roll back the recent loosening of restrictions but she is going to proceed very cautiously before see allows any additional or new activities so please the current restrictions to be in place remember that the most recent shelterinplace order from Alameda County does not have an Expiration Date was just let weve got to hunker their continue to sacrifice the way that weve been sacrificing for the health of ourselves our families and our community. Mayor you mentioned that that Alameda County seems to be a new covid19 hot spot in the in the bay area. What is the Health Department and the city doing to try and bring that back into a into some type of a form that everyone can deal with now. Well listen we are painfully the impacts of Health
That is a big one. It includes Outdoor Dining most indoor retail religious Services Summer camps and pro sports but with no fans face to see is targeted to begin on july 13th thats when Indoor Dining can resume and hair salons can reopen phase 3 would begin in mid august thats when schools would reopen bars would be able to welcome back customers and junes and nail salons would open as well. The final phases phase 4 which would include concerts and festivals. Now keep in mind these dates are just goals and city leaders can change them if needed you can read the entire road map to reopening San Francisco on our website at kron 4 dot com. Also beginning tomorrow, the city of San Francisco will begin to implement much stricter face mask requirements kron 4 Sarah Stinson live in San Francisco. She has all the details for us. Hi sarah good morning. Marty good morning as you know its been a 6 feet of distance that theyve asked us to keep from one another and if we can do that then definitely
Fox, too, has its losses but still at 6. Netflix is adding to its gains. Up 2 . Well tell you what the ceos have to say about the shift. Plus, the auto tech sector is beating expectations. Could teslas problems be hurting momentum play mobile eye which is a very interesting story. We will look at both of those companies coming up in a little bit here. Fitbit is falling. Many analysts are saying the earnings numbers last night werent so bad. Down 13 today. Well debate whether this is an opportunity to get in on a high growth stock. First, lets get to todays selloff on the nasdaq. Kate rogers is spending the day there for us. What do you have, kate . Hi, bill and kelly. It is an ugly day here at the nasdaq. The composites down 1. 6 . If it closes lower than 1. 75 it will be the worst day since june 29th. The biggest loser today Keurig Green Mountain getting absolutely crushed. Down 28 . It was down as low as 30 earlier. That after the Company Reported issues selling its coffee and brewin