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Vengery link that does it for squawk on the street. Lets send it to squawk alley. Over to you. Thanks. 11 00 a. M. On wall street and squawk alley is live welcome to squawk alley. Im Carl Quintanilla good to have you deidra, sarah is off joining suss partner gnb capital and the founder of earn. Com. Good morning to you both over the last five trading days, tech stocks, which were leading the markets higher for the entire year have turned lower. Today the nasdaq is slightly positive this rotation isnt just on wall street a number of articles in the past few days talking about Venture Capital funding drying up, or at least having peaked in the seed round. Called the hot money party tends to move around facebook ipo run up subsequently in 2013, 2014, big in seed a, thats where the capital went. The hot party moved in 2015, 2016 it went unicorn hunting, saw a lot in ipo, labor ....
Good wednesday morning im Carl Quintanilla what a morning markets are not moving much. Travis kalanick is stepping down as ceo from the company he founded back in 2009 in a statement he said, this is a Bold Decision and a sign of his devotion and love for Uber Kalanick will remain on the board. Joining me is executive editor kara swisher who famously profiled travis in vanity fair. Not long ago, well walk through what our discussion entailed. He was the ceo of a mess they are cleaning up now. Thats pretty basic. They are resistant to remove a ceo in the founder of technology, but a number of things have been going wrong from the Sexual Harassment allegations, the retaliatory behavior, to the gray balling, it just adds up to a really situation there where they und ....
Board here to europe, except the ftse. Look at the trade in crude. Wti and brent trading slightly lower. Here are the big stories were watching today. The tunisian man suspected of committing the berlin Christmas Market truck attack was killed in a shootout in a suburb of milan. Italys interior minister said there was no doubt the man killed was the suspect, anise amri. At home, shares of Lockheed Martin are falling after president elect trump tweeted about the f35 program. Trump said based on the cost and cost overruns of the f35, he asked boeing to price out a comparable f18 super hornet. Lockheed did not comment on the tweet. In a statement boeing said we have committed to working with the president elect and his administration to deliver the best capability, deliverability and affordability. A comparable f18 is tough. The super hornet doesnt have vertical capabilities, ....
Portfolio because the most popular and widely owned stocks in america are getting pummeled. Were talking about amazon, facebook, google, apple, all losing ground again today after a red week. Last week those stocks have shed a combined 132 billion in market cap since the election. So at what point do these names become a buy or are they simply a notouch right now. Guy . Steve talked about this the last week, week and a half, about the great rotation and youre obviously seeing it now. When amazon reported, we talked about the potential to trade down to 700. If you looked at the end of last year it traded up to 700 a number of times before breaking lower at the beginning of 2016, so past resistance becomes support. Youre going to find now traded down at 710 today. I thought that was going to correlate with an s p trading down to 2025, and we did see that the night of the election. Here we are within a whisper of an alltime high. To me amazon out of all the ones that have flushed might be ....
Stuart lets take it off this morning with some of the bigname stocks. Pilgrims pride offers to buy wilshire. They are both food conglomerates. Remember, phil scheier offered to buy pinnacle for 4 billion. Conglomerates getting together in the food aisle at the Grocery Store. We are a couple solid rallies away from 17,000. We have that graphic ready to use. Here is the s p 500. Look at it now. Up another 10 points. Charles is here this tuesday morning. A lot of people talking down the market. You are always bullish. Not about the overall market, but about stocks that you like. Charles i am bullish on america. I am not always fully invested. China predicted the top was ridiculous. In the last 100 years, there may have been one dozen crashes. Are we close to the alltime high for the alltime low . Nothing has outperformed the market. It is about owning great individual companies. Stuart a lot of stocks that have gotten beaten down over ....