We will hear from the head of west coast listings jeff thompson. Lucids desert oasis just finished a listing in san francisco. We will get a picture of supply and demand with first, u. S. Stocks started the month off by hitting records on stimulus talks and covert progress. Salesforce says it will proceed with plans to buy lack for 7. 7 billion to buy slack for 7. 7 billion. Slack prices up, salesforce had dropped. What do we see after hours . Abigail both shares are down. The idea that salesforce. Com would buy slack, now lo and behold, that is happening. As you mentioned, 27 point 7 billion in cash and stock. Some are wondering about the cash piece. Salesforce. Com does have a lot of cash, so using it here for this deal, and i think the bigger thing to take a look at is the fact that salesforce. Coms Ceo Marc Benioff has made more than 60 acquisitions, as you know, in his 21 years, making salesforce. Com the conglomerate of all these different pieces. Now they have this Communication
Apple inching closer to a 2 trillion market cap. Bloomberg breaking news the news that apple is working on a subscription bundle to drive more revenue and kicking the ga paymentte over its policies. Abigail come you have been looking at materials. Abigail they had a very Strong Quarter and had a better outlook than expected and initially afterhours the stock was reacting well. The stock is up about 82 . , all over theer map. Must have a look at it it was what. They beat and put up a better outlook than expected. This is a company that makes the equipment to make the chips. This has implications in terms of the strong chip demand, which would suggest that the demand for the companys that use chips. This could be bullish overall, and relative to a different take on the day, yesterday, as you ciscogo reported reported come to supporting, weighing on the s p 500 and the nasdaq. The reason i am highlighting cisco, down 11 on the day, the worst day since 2011, and they had a disappointing ou
Why Tech Companies in the United States are hoping president trumps political problem could be there again. It is official. Wework is pulling the plug on its ipo, at least temporarily. New ceos coceos of the company want to focus on its core business before going public, which they still plan to do at some point in the future. Wework has been burning through cash. It is now planning thousands of job cuts and will put several of its businesses for sale. Ellen, i want to start with you. This story has been evolving dramatically over the last few weeks. What is the latest from this morning . It is official it is official. The ipo will be put on hold. That confirms a lot of the reporting we have had in the last week or two, which is that the ipo is unlikely to happen in 2019, likely to be pushed until next year. They are going to be spending the next few months with these new coceos, trying to show wall street, you know, we are going to cut back on expenses. It is no longer going to be a c
Today then rebounded in the afternoon. House of pleasure. Closing down 80 points. The s p losing. 42 . Nasdaq falling. 85 . I think what were seeing here is nothing more than a wholesale repricing of stocks. As investors try to bake in all sorts of contradictory possibilities. The repricing ebbs and flows and you see intraday rallies as people realize the businesses are actually pretty good and the stock market remains the best place to put your money. Thats what happens when stocks fall if only because every other asset class is so unattractive does this occur. Its not because this one is that beautiful still, i think we have to have more pain like we experienced this morning, which is why you need to understand what striving when the pain happens, youre not paralyzed, because were going to see it again and again. First, there is a whole camp of people who believes that our economy is headed into a recession. Probably sooner rather than later. How do i know this because at the worst m
That wounded officer hospitalized tonight. Condition serious. Police say this began with a Domestic Violence call. Officers were at a home helping a woman remove her belongings when the officer was shot. The standoff is underway at a house on Redwood Avenue on the northeast side of sacramento near the Del Paso Heights neighborhood. Reporter still a volatile situation. The barricades are still up. Rifle fire seems to have eased the last few hours. Sacramento police still trying to evaluate if this shooter remains a alone in his house opened fire just past 6 00 pm. An officer in serious condition. The officer arrived at the home because there had been a domestic dispute between a man and a woman earlier in the day. The man continued shooting with a highpowered rifle. During some of that time, the wounded officer lay helpless in his backyard. And this North Sacramento neighborhood went under siege. Our officer of struck by gunfire and at least one officer and all the responding officers t