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On united. Lower after reported earnings. United losing 1. 8 billion in the third quarter. Thats not a surprise. Everyone knows what has been happening. The numbers were a wider loss than estimated revenue fell 78 , coming in shy of expectations at 2. 48 billion. The metric everybody is focused on is the daily cash burn. They were losing 50 million a day at the end of march. They brought it down to 40 million for a daily cash loss. Bring it down to 25 million in q three. Their core cash burn comes down to we heard delta say we think we will break even in the spring united is not addressing that. We know that will come up tomorrow i suspect that united will give guidance liquidity. The company is stressing it believes it has the cash on hand to get through the pandemic. No one knows how long this will last, how long the airlines will be down, a year and a half or two years. But united feels it is positioned welcoming out of the third quarter. We have an exclusive tomorrow morning on squ ....
Shift. Weve got another bonus hour of fast money tonight at 6 00 where we will be answering all of your burning trading questions. If youve got one, tweet us cnbcfastmoney. We start off with zoom zoom shares staged a gigantic really its 40 jump today now gives ut a market cap bigger than lowes, ibm and citigroup. It is about 3 4 of the size of cisco, which of course is a similar product and 83 times the revenue. What do you make of this giant move today its pretty incredible. I dont know how often weve seen a stock thats jumped by 40 in a single day. But it ran into earnings weve seen nothing but bullish paper in here for the entire year the interesting thing is when you look at the numbers, yes, the numbers were astounding. When you look at the revenue and the earnings beat, its incredible what stands out for me is i look at this company. You just wonder, theres not a short squeeze going on here. Its not a very large short position i think this is just an amazing stock. People look at ....
The nasdaq pulling away from alltime highs, the apple one of the five big stocks posting a gain today but while big tech tumbled, the rest of the market was better. The s p 500 less than a percent away from a new alltime high and energy and industrials leading the way. So todays market action, is it a sign florithat the great rota is in place. Guy . It would appear that way. And happy monday and i took french in high school and this move was as we used to say [ speaking Foreign Language we get what youre saying. That is what i said at any rate, it is a pretty and kudos to tim and karen theyve been talking about the transportations for a while in terms of the stocks, look at the move in caterpillar today, a few weeks ago you played trade it or fade it with karen and boeing was 195 and she correctly said to fade it and we talk about how it would trade down to 160 or so and it overshot down at 154. But look at it today, approaching ....
Record high today, up more than 17 this year. Check out the big tech names hitting fresh alltime highs in todays session, apple, microsoft, facebook, amazon, netflix all marking new highs. Is this headed straight for a giant iceberg, guy [ laughter ] when you read that, you hesitated reading that this is the bubble in my head literally said should i read this or should i skip over it, titanic tech run headed straight for a giant iceberg. I went with it lets go with the metaphor. I am a fan of leo i know you might find this propostrous but leo is a huge fast money fan we should collectively give a shoutout so i was talking to the great dan nathan earlier today and we were just talking about the move in amazon. Amazon is up 3 today. Amazon has added this month which i think today is the 9th of july. Just this month its added almost a quarter of a trillion dollars to its market cap. I think there are only 22 companies in the s p 500 that have a market cap of a quarter of a trillion dollar ....
Alphabet, the stock higher after reporting a quarter that is under way. We have full Team Coverage under way and gene munster is listening in on his phone, and lets start out with deerd deid bossa. Im sorry guys just on the call right now the cfo was just talking and i was listening so intently because she was talking about the Second Quarter and shes seeing some signs of commercial activity recovering and she said it would be too early and too premature to make any kind of conclusion or talk about how durable that may be. Going back to the results the ad revenues were hit and perhaps not to the extent that wall street was expecting and they echoed the comments that cfo made saying that it was a tale of two quarters, strong at the start and then ad revenue declined he also struck an optimistic note saying he had reasons to be confident. Have a listen. Let me just explain that ....