It it is 11 00 a. M. On wall street and squawk alley is live snap what a happy sound snap is the happiest sound ive found tap slap but snap makes the world go round snap crackle pop rice crackle makes the world go round i insist that pop is the sound well get to snaps pop in a moment, but first welcome to squawk alley. Im Caro Quintanilla with john for the and kristen boorstin snap is exceeding its first day of trade, 38 and change. Netflix going the opposite direction. Were going to discuss netflix first. Good morning good to see you. Good morning, carl. You said investors who are looking at this print are going to struggle to find negatives. Yeah, there really wasnt anything to dislike. Weve had advertising pullback during covid and now were seeing the snap back across the board. We think this is going to help facebook, twitter, a number of the advertising related names, the User Engagement was high you can do anecdotal surveys of all of our kids around the community here and theyre
Is live. Pump up the jam good friday morning welcome to squawk alley. Markets still in the green pinning hopes to stimulus talks. Were watching headlines best week so far this morning, jon, in two months for the dow yeah. And in tech this morning, carl, hey, weve called it out here on squawk alley before. Today amd eyeing xilynks amd is a 100 million market cap down 3 on a 30 billion deal. Investors are giving this blessing a few different trends here. A hot of Tech Companies have richly valued stock to play with there is pressure to answer and three u. S. Restrictions are hurt something chip makers like xilinks and theres no end to that in site good morning, guys pat, are you surprised not a the hoff overlap here. So in that sense, maybe this deal isnt at risk but, hey, not a lot of overlap here. So maybe this is risky the. Yeah. The so as you said before, amd needs to grow. When i look at valuation, im sure stacy will will weigh in on this, it had to do something organic growth isnt
Remains committed as ever to slowing down take talk in their growth and this ruling is merely just dragging things out and staying the final judgment so while this is a significant win for ticktock it did not come out unscathed so chums fixation on take talk has already been quite damaging and costly for ticktock mounting legal bills obviously but tick tocks growth has also been impacted due to his dispute with the us and made it very difficult to attract new staff so since july has reported that 52 job candidates have actually turned down jobs and declined to work for bite dance or tech talk citing these perceived uncertainty caused by the governments investigation of the tech talk so as a result of slowing growth and slowing innovation due to having to fight off the massive target on its back instagram has actually managed to catch up quite a bit and is encroaching on their market share so Facebooks Instagram reals right now release earlier in august is starting to build a base as in
Blocked the trump administrations attempt to ban take downloads in the u. S. With the ruling coming less than 4 hours before the ban was officially set to take place now a spokesperson for the Chinese Ministry of Foreign Affairs responded to the judges decision early monday. We have taken note of the relevant reports china has always opposed the us as hegemonic practices of generalizing the concept of National Security abusing state power in unreasonably suppressing in apprises of other countries we hope that the us side will are in a sling respect the principles of market economy and fair competition abide by the rules of International Trade and economy and provide a fair open and nondiscriminatory Business Environment for enterprises of various countries to invest and operate in the United States and of course this ruling is only temporary but it will provide more time to work out a deal with oracle and walmart to remain active in the United States the u. S. Congress department is no
Other countries we hope that the us side will are in a sling respect the principles of market economy and fair competition abide by the rules of International Trade and economy and provide a fair open and nondiscriminatory Business Environment for enterprises of various countries to invest and operate in the United States and of course this ruling is only temporary but it will provide more time to work out a deal with oracle and walmart to remain active in the United States the Us Congress Department is now planning for a november 12th deadline to implement a full ban rendering the app unusable for u. S. Based users if a deal for tick tock is not completed by that date joining us now to discuss our cohost ben swan and christy i thank you both for being here now christy i want to start with you the truck administration really want this ban to slow the growth of tik tok which continues to add nearly half a 1000000 users every single day does this ruling cripple that effort in your opinio