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For those two companies, it was a tale of two different big tech quarters alphabet has certainly been the laggard this year. Underperforming not just its big tech peers, but the nasdaq amazon has been a standout, 70 gains. Alphabet had a low bar and amazon had a high one. Did they deliver we can look at a number of metrics, what i want to drill down on particularly is cloud. These are the companys newer growth engines cloud numbers came in only in line with expectations revenue up 29 year over year. Love large numbers but google cloud, revenue was up 45 and now the company is going to break it out as its own segment. Have a listen to what was said last night. Given the progress we are making and the opportunity for the cloud in this growing global market, we continue to invest aggressively in our gotomarket capabilities and extending the global footprint you will see information about the scale of our investments so investors are going to be able to see exactly how much google is inves ....
Your money as you consider whether you should buy this stock as well. Ive got great guests today to go over 24 as welthis as well the Investment Committee is here as always. And were anticipating the ipo and jon fortts interview with Frank Slootman leslie picker is with us too and steve, you wanted an allocation and you didnt get it, but you why did you want a piece of this action well, i readprospectus, a strange thing to do for a great deal and the growth is phenomenal when they cite their retention rate, it is 158 which means that they are upselling, their accounts are taking on more are product. So i love the cloud. This is ai for the cloud it has a blue chip list of clients of accounts. So why wouldnt you want it. You dont find that growth anywhere and so everything checked on the box. So maybe if brad will give me some of his, well continue our friendship looking ....
Virus could soon peak in new york city. Weve already seen the apex in madrid italy is clearly over the hump that means buy storks. Cover your shorts. The bull is backs todays run d 1627 points marking its best day in two weeks s p soaring 7. 03 . Nasdaq 7. 3 . Can it really be this easy or does this represent too much optimism i think its a bit of the latter wall street is a group of index buyers and traders when we care about the new number of coronavirus cases, number of hospitalizations and mortality rate index buying was so intense it moved stocks like they were play things now, does that mean we should buy the nasdaq when we have more ventilators, sell it if we dont have enough personal protective equipment . Do we buy the s p retail etf when we get a decent number from, i dont know, Governor Cuomo . No, its kind of ridiculous. Were simply seeing, though, the flip side of what happens when people were downbeat as they were la ....
Lawmakers in washington to take action. We will hear from the senator who spoke out first. Workplace messenger slack soaring in its trading debut. After forgoing the traditional ipo, the companys shares opened at 38. 50, 48 above. Point, climbed as high as 22 a share, more than double the last valuation on the private markets. It makes it one of the most Viable Companies to hit the markets this year, but will it be able to avoid the slump of uber, both trading below . Is a couple correspondence. Jason horowitz is an investor in and stephen, you were at microsoft for more than two decades, which is a slack competitor. Can slack fend off the big guys . Well, can microsoft fend off slack . Right now, the way the Industry Leaders have talked about slack, its generally viewed as a leader, certainly by a bunch of measures. I think theyre in a really great position. The industry ....
Last night she said oh i feel so down when i feel left out so i, i turned around this for sure good monday morning. Welcome to squawk alley. Carl is off today. With me, john fort, holding down the fort at post nine. Joining us also, the cofounder of aol ventures, now president at confide. A lot to get to in the tech sector. The markets are making up some of the losses from friday. We had steep declines on what was the second highest volume day of the year, the dow fell more than 350 points. Crude hovering around 34 a barrel which continue to be one of the leading stories in the market. Bob is on the floor with more. As we are counting down, bob, to the end of the trading year. Yes, and were up, and we should be up. The fed has made its decision. Options exploration is over. Were in a new oil contract. This is the seasonally strong period. Particularly the time when you pick up the beaten up stocks this year for possibly gains next year. The problem is this lower for longer theme is rea ....