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tv   Closing Bell  CNBC  August 12, 2021 3:00pm-5:00pm EDT

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sornos, the stock bead on earnings, and a big driver in the quarter, tyler, was streaming. i'm a big sonos fan. >> kell, thank you. thanks for watching, everybody. "closing bell" starts right now. it certainly did welcome. i'm wilfred frost. health care is eneleading, ener is lagging >> jumped in july in the latest read rising 1% versus estimates of 0.6%, jobless claims meantime i falling in the right
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direction, falling to 375,000. reopening traits are weak today. we have 59 minutes left to go in the session. coming up on today's show, an action-packed lineup. a rare interview with billionaire lawrence stroll. we'll talk about his turnaround plan for the luxury brand. it's a busy afc with several reporting. as usual, we have an all-start lineup michael yee from jeffries is
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here, but mock san told ir, they hit -- despite the fact it's a very narrow trading range. there's always been an intraday fate it's not all stocks moving as one. a the lo of this stuff is holding indexes in place >> a look at the nasdaq 100, actually an outperformer today >> see it never got sloppy, so to speak we had this break out above the prior high today's low is a couple -- it's
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part of the rotational action. semiconductors are struggling a bit more you see months of doing not much of anything. we're actually slightly below that high from back in june. it doesn't mean it's break or break of the entire market, but typically you said -- to have a better thrust behind it. it doesn't feel like each day is a bit of a see does that saw
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>> i don't know it's necessarily -- obviously we're going to be getting jackson hole, the federal reserve gathering there. all typically, or at least historically has been relatively week, so the market being up less than half a person. >> i'm watching financial conditions, credit conditions, so they're all looking okay. >> rachelle walensky saying the work with pfizer and moderna to -- shares of the companies are higher today, 2% or so inch
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and has a hold rating on that stock. michael, thanks so much for joining us what is your take if they're wide enough to boost the earnings, or is it going to be a select few >> we are very confident that not only is the cents and fda likely to recommend boosting first to immunocompromised people in this country, but eventually toward the fall and winter, for people over 65, and eventually a brought are recommendation for the rest of our country. uk and israel are already going in that location >> are any companies suitable for boosters more than others? >> well, i think that at least general consensus that moderna and the pfizer vaccine are
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likely to have the vast majority of the market share. >> though there is misother that may follow like novavax, but i think you'll start to see boosting become recommended starting tomorrow, and i think as we wrote in a note this week battery recharge time. maybe we'll get to -- i think it's a battery recharge time and a proportion of people will feel comfortable getting a boost over the next year. >> i do know some people who have gotten no reaction, and some people have gotten adverse reactions that hung around so it's going to be a key question to see whether people are willing to line up for that
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booster shot again that being said, moderna is up triple digits just since the start of this year this couldn't didn't have it on the market before. what would change your rating? what do you as the next leg or key catalyst for the start the first is what is driving the stock? we wrote a note about it last week we called it the tesla of biotech. i said battery recharge against this weekend that's because tech investors, generalist investors, global investors view it as a disruptive innovative platform i think that's why people it ca
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probably retest 500, though it was extremely expensive, and i think that's what people are debating to what extent of widespread boosters are already priced in is it possible that anyone under the age of 65, perhaps, that say doesn't bother with a booster at all? >> i think the availability of boosters is the first move i thinkonly a portion who took it this year will take it next
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year about some people have no side effects, some people feel great and they want the extra protection i think there will be covid infections at a low level throughout the year, probably into next year as well there's obviously spots in the country that are not vaccinated and there will be infections people want to feel protected, 30% right get the boost, we've got to stay protected, got to keep the levels down, and i think it will -- although we're not going to have a -- not any severe problems, so i hope that's clear >> looking forward to the day when we can talk about other names that you cover as well, some of the other diseases being addressed. unfortunately we have to left the conversation there but we appreciate your insights. >> great to be here. thank you. palantir is popping today
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after reporting a nearly 50% jump ire watching "closing bell" on cnbc. this is the sound of change from pnc bank. it's the sound of low cash mode, giving you the options and extra time needed to help you avoid an overdraft fee. low cash mode on virtual wallet from pnc bank. one way we're making a difference.
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palantir's chief operating officer, on the earnings call, saying he wanted to celebrate, who crushed present and past because it was demonstrative of the company's culture of innovation a palantir shareholders, roger, great to have you on >> we saw revenue accelerate, but really the key metric that investors have been keying in on has been the commercial side of the decision break down the results and how sustainable it is. >> i think the big question that's dogged palantir for year has always been are they strictly a one-dimensional company.
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we all knew they had blue chip large contracts. the big question was whether they could fully commercialize the product. revenues are up 90% on the commercial side. i think they're just starting to scrape the surface, and once they do that, i think you'll have a tremendous catalyst going forward. those partnerships it's doing with commercial space companies to essential do ai from space as well how does it speak to the value proposition. i think the -- just on customer acquisition growth in the previous quarter, it was you can't substantially.
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they're actually on target to actually double their customer base over the course of 21, so, again, huge numbers. back to the top line was fantastic. another quarter of positive free cash flow, and again raising the full-year guidance from $150 million to $300 million was just unprecedented for a company growing at this rate >> the operational message is something you're quite attracted to at the moment >> sure, absolutely. i see very little in the way of headwinds for the company at this time. oy think they're the 800-pound gorilla in that space. i think the growth profile going forward is going to be phenomenal
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>> to be fair, defense contracting is not a bad business to go in, either. it's a steady cash flow, at an investor, in a company that's also masse significant -- >> a bigger, broader, longer-term strategy. >> obviously, you have to be selective. and making the right decision, but i do think that can add value, without question, in the future >> you know, that's a good question i'm asked that all the time.
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i don't view them as having a competitor in the space. i don't think there's a software available right now that can compete on any level it's close to two decades old to have this type of growth at this stage in their business is really unprecedented i think the path is clear for palantir to move forward. >> roger, thanks for joining us. good to see you. >> great thank you. still to come here, crypto gets messy a new superstar getting paid in part in crypto check out some of the today's top surge tickets. palantir does top the list followed by moderna and apple. wl rhtacweilbeig bk.
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welcome back lionel messi shocked the sports world when he parted ways with barcelona and signed with a new team some new details are emerging about his pay package. the two-year deal nets him $41 million per year, net, after tax, a reported sign-on bonus as well, but the part that's getting attention today, is the welcome package, which includes psg fans toxin, a cryptoccryptocurrency the team started to work on. the hype around the latest signings is $1.2 billion in trading volume for its cryptocurrency in recent days. absolutely fascinating, morgan
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also what stood out was the boost it game to social media. the insta page now has 45 million. it's more than doubled that compares, by the way to arsenal, my club, 19.7 million, and your club. >> we need to fix that that's a problem that you checked on that, too, with roma. i didn't realize -- they're the only club that has issued these tokens and gotten to this cryptocurrency craze, if you will, too, milan, barcelona have been launching these as well we've have to watch. it's exciting, and make we can talk soccer more on cnbc, which you and i are into
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we're being wrapped for the moment. >> of course we are. when arsenals launching a cryptocurrency, all will have peaked, so we'll watch for that. [ laughter ] just on the social media followings hits following is just so powerful the number of shirt sales, potentially, it might end up paying for itself. it's on an extraordinary big net of tax contract. so quite a lot in shirley sales to get to that point no more soccer chat, but it was a joy whilst it lasted meantime, in the u.s., in the crypto industry, they're building out that you are lobbying arm washington is taking note.
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ylan mui has a closer look the crypto industry was ready when the big fight opened. spending on lobbying of $2.4 million for the first part of this year, almost the same amount it spent in all of 2020 the biggest players was ripple labs second was stellar development fund, and coinbase spent 160 the industry has listed a broad spectrum of power players to make its kay there are the traditional heavyweights, senator bachus, and then gene simmons tweeted his support, right in the middle of the fight lawmakers are starting to get into crypto themselves in fact, senator pat toomey, a
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key advocate, has invested as much as $330,000 of bitcoin and ethereum ylan, thank you. certainly there's a game plan being adopted, or maybe in cannabis or sports betting, gaming that is playing out in d.c. right now so keep an eye thank you. ahead, energy is the worst performs sector today, down 6%, but it's this a strong year. year going to ask citi's chief strategist more. the ten-year an 1.43%. "closing bell" will be right back
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we can back to "closing bell." shares of aerojet rocket diners l look. of the rock engine maker, but this is -- as this admission is taking a chance
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bide u.s. unappreciate the company has updated its revenue growth you can see the shares are down about 3% as well wilf >> it is time for a cnbc news update kristina partsinevelos has it for us kristina >> yes thank you, all the united states is sending more troops to afghanistan to help evacuate personnel from the united states embassy in kabul state department officials say the troops are only going to afghanistan to hem withdraw american civilians and not reengage in battle the bill passed the senate minuted after the not put down her microphone it remains stalked in the texas house, where it's been blocked for 32 days. sources telling nbc news it's highly likely fans will be
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barred from much of the tokyo paralympic games due to the pandemic a state of emergency in effect until the end of the month in tokyo, and many other areas. the games are set to begin on august 24th. in canada, justin trudeau reportedly cause for a snap vote regarding the covid pandemic. straight ahead, the iea due to the rise of the variant up next, we're going to talk to citi's u.s. cheat equities strategist on how to play the energy sector. would we're counting you count energy earnings. we'll have a preview of the key metrics to watch that's coming up
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energy is the worst performing sector today, down more than 10% from its highs of the year, as the iea warning due to the delta variants. toe bias leave -- are you constructive on here >> kind of neutral
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there are elements that make it interesting. the problem with energy, to a certain degree, it's not just a fume that's developed in the last six months. what happens with oil prices, when they go up, there's a supply response. i think energy is not down due to its own fundamentals, but other stocks have traded off, pulling back as people worry about what the economic implications of those pullbacks and yields are, though a lot of that still has to reflect certain technicals in the bond market. >> how important is a dollar on the direction of this sector and underlying commodities >> we could be talking about energy, precious metals, but historically the dollar has been
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an important dynamic what is interests is oil prices have outdate -- and underly energy stocks tend to be a better read. we've seen it where the energy stocks have not reflected the crude price movie, as a result, people said the stocks are cheap, and what ends of happening is the oil prices are put back in. so peep think about what might happen with the negotiation with the iranian regime in potentially getting them into the market, so than an overhang on the market. our energy guys think that oil prices could go up a bit. >> just to dig in more, toe bias, i know you further on-- touched on this, stock names tend to move in tandem with oil
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because of the broader effects that move oil also affect them as well. i wonder if you think that energy is the only sector to be looking at here, given the conversation we're having, or whether there's other opportunities elsewhere. >> good question we tend to steer away from materials, because it's 80% cam cal in terms of the weight or, rather, dollar priors movement that we were just talking about. i think industrials probably are a bit more interesting, particularly capital producers, as we're seeing strong ism data. they all tend a pot m
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mov mov movementum the only area, for example, like in tech right now is tech hardware that's partially because of that capital spending opportunity. >> tobias, if we did see in the next, let's say, two months that suggested the fed would taper toward the back end of this year, would that hurt equity markets, or do you think they're already kind of there? >> i don't think we're there, to put it simply, wilf. one of them is, as you know t. tapering the fed has been very, very clear, they want to do this. they're just trying to set the stage and not have a repeat of 2013 they recognize they don't need as much liquidity. all those things are baked in the cake, but it's not the only thing you have to worry about. is inflation more consistent
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and lastly, you also have to think about when the discussion in september starts to occur around the reconciliation package, what are tax rates going to look like all of that coming together and coalescing could cause market turbulence it's certainly something we're worried about, as we see sentiment remaining a the euphoric levels in our estimates. >> tobias, thank you for joining us today up next, we're counting you down to earnings. hearl preview what to watch in "t mket zone." that's coming up next.
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investing. banking. guidance. ♪ we are now in the "closing bell" market zone heading into the close. breaking down the crucial moments of the trading day today we have stephanie link with us, as well very good afternoon to you, steph. s&p 500 on track to close that report high. the dow is close to one, just fit back into the red only by two basis points or so very close to a record close mike, despite these records, volumes and breadth making the
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report highs far from resounding. >> it's a bit ambiguous under the surface. top line -- this is a bull market acting, you have a lot of excuses that are offered today's action, though they're kind of accounting for the whole up side, so it's a carousel from group to group that continues to turn by the way, earlier, i said the s&p was up week to date. for the month so far, it's up a percent and a half, serious respectable given the history of returns this time of year. >> stephanie, we have a hotter ppi number we have talked about it a lot 1/2 past but in light of everything that's swirls, it does hover near the record
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highs. has it changed anything is delta cases and concerns there, and now we've got some fed numbers, we're talking about tapeers to mike ace point, it's been rotation based on what's happening on the macro what's happening on the macro, there's a lot of good data in the last week we've had not foreign payrolls wages up a quarter percent, because the consumer is 70% of our economy but that is very positive for
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cap ex cycle and forward earnings so it's explaining that growth is real. we're not going to do 9% in the next couple quarters like this quarter, but it will be above trend. by the way, we do root for a bit of inflation we are having more inflation than we have, so a little more inflation, a strong economy, higher earnings revisions and record free cash growth. i want to play into the better economic strength. >> on the topic of inflation, which was kind of ahead of expectation, which was annualized, where do you stand on that, that if we get an
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announcement of tapering this calendar year, does the market take -- >> i think that's probably the preisms by the end of the year, we will get the announcement beginning perhaps december, january. i don't think it's out of the question that the market takes that as an opportunity to back off. i don't think the orderly process of initiating the taper doesn't have to start the clock. the taper tantrum was a 6% pullback from the s&p, and big jump in bond yields. it came out of owhere. before we even knew it happens, the phrase taper tantrum didn't exist. in a sense it's already won, because we're trying to manage our way through it.
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>> perhaps lessons learned shares of micron are down, morgan stanley lowering from $105 the firm says, quote, winter is coming, for the memory chip market and notes while demand has stayed strong, it's worsened in recent weeks. it's very dramatic, to basically use a "game of thrones" reference in analyst notes, but i do wonder what you think about this analysis. >> i mean, look, a stock is down 27% off the april highs. i think it's already stiffing out -- they took -- energy took 35% price increase over the last two quarters that's not sustainable, not in
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any way, but that is dram. ram, other than the is tighter you don't want to paint it with the same brush i own lamb research. 60% of their business is memory. they have very diversified business mix, new products and they're gaining market share the problem is it's up 23% years to day, but that's the one i would own on a further pullback. >> mike, is this why the sma is down >> obviously memory doesn't drive the whole thing, but i think it was a tricker for the pullback there i think that's been -- it takes it off the table type of impulse. airbnb and doordash set to
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report results after the bed deirdre bosa has a preview >> each of them should kit how they're opening. for airbnb was the favorite mode of travel amid the pandemic, so we'll be curious to see if it stays that pay way past quarter, and whether there will be longer stays. watch prices, too, in terms of the average daily rate that metric shot up last quarter, so we will see if it came down. for doordash, investors will want to know how demand has been affected amid rising cases and whether dash has enough supply, dashers, as they call them, to meet the demand. from international markets, to the convenience and grocery verticals, that's been the focus
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and will continue. >> dee, thank you for that steph, if we start with airbnb, it will be interesting to see whether similar trends are emerging about what delta's impact has been, or whether it's given them another kick. >> i kind of like the setup, wilf, the stock is down, the multiple has gone to 12 times price-to-sales they'll do something like 50% total revenue growth they're going to grow substantially. next year, 20% so -- tell go up nicely. the stock is only up 2% on the year we know demand has stayed strong from expedia and bookings holdings so let's keep an eye on the ancillary businesses, that's a total addressable market of 250
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billion. so they're in a sweet spot we just have to get through delta. >> mike, doordash is sort of the latest in a series of these names that basically benefited from staying at home now it seems like investors are trying to sort through and figure out what's stabilization, as we come out of the pandemic, and what's actually slowdown. >> what's normal, exactly. doordash also i think it's going to develop over time it is also worth pointing out that they both suffered probably from excessive -- and look how they have performed since then they have converged around, you know, almost unchanged net-net
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from their first trade i do think that reflects a fact that a lot of these sharing, gig economies, uber and lyft are right with them. they're indispensable, but we don't know if they're great profitable businesses yet. well, dow component disney is also said to deliver earnings after the bell kristina partsinevelos has more. >> investors are waiting for growth trends on the park businesses the street is expecting revenue of about $60.7 billion, which means possibly growth for the last five quarters how do they temper analyst expectations for q4. did i any plus, espn plus, during last year's lockdown pushed the stock higher, but as
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the nearly 2-year-old streaming business, it shows hints of a slowdown the fiscal third quarter could be a big reversal, morgan. >> kristina, thank you. mike, it's subscriber numbers, park, but it's subscriber number is key. >> more than anything else, i do think it's subscriber number i think we have come off this idea that somehow it will be a hyper-mega winner in streaming i do think, plus, are they seeing any bookings activity change based on delta? one would doubt it, but if they do suggest -- that's not the greatest thing, but i don't think huge expectations are in here for leverage to this quarter and next quarter in parks.
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>> steph, are you tempted to get back into this name? >> i look at it, i watch it. it's a great company, blue chip, good balance sheet, all of that, and market share i think we have time on this one. parks are back open, comcast had very good parks numbers, so i expect that to be consistent it is the trends going forward, and then it's all about disney plus it's going to be distributed with disney plus and hot star that mix will be important, too. it's a good company. i don't think the valuation is super-compelling i own a ton of reopen names that i much prefer. just over two minutes left in the session mike, what are the internals
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showing up >> at softer than the s&p would suggest. a couple big names are flattening the s&p, but we started in the hole advances versus declines. yesterday was a good breadth day. today it's one of those, the nasdaq 100 carries then on the nasdaq, you've seen again this accumulation of new 52-week lows relative to highs, and there you see that number, about 120-something new highs a lot of those are very small biotech type of names. it does show you, again. we've had this divergence in the markets and some of the stocks are fault behind the volatility index is buckling
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a bit here late in the we're, summer, expirations, 15 and change on the vix, you would think some down side into friday if in fact we don't get any sort of macro jolt a lot of talk is stirring much about downside protection might be inexpectative here with the market kind of sleepy and volatility levels coming back. any positive is a record close for both the dow and the s&p. the s&p is up about 0.3% nasdaq is higher as well, but a bit off its recent record high cyclical common-based tilt to that. energy, which is low today, is higher on the week
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yields have continued to tick up this week, in fact last week, it was -- [ bell ringing ] as we approach the bell on the floor, enough for record closing high, the dow ekeing one out welcome to "closing bell," i'm morgan brennan in for sara eisen, along with wilfred frost and mike santoli a quick check on the dow the dow and s&p regard intraday highs for both of those averages, record closing highs as well. you can see right there the dow in what was a middling session,
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finishing up higher. the s&p finishing at 4460 was the left there, up about 0.3%. the nasdaq snapping a two-day losing streak. health care and tech the best performing sectors the russell 2000 -- we will have instant reaction to all of those numbers, as soon as they are released stephanie link is with us, and del no sa-- delano sapporo join us >> small incremental moving, we're nearing a 20% total
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return, that, of course, includes dividends, 18.5% or so on a price basis alone, also about double from the march 2020 low, so a lot will start to rain down in terms of how good things already been also, i think it gives a bit of cover for the idea that the market is attempt to go withstand and look through the potential slowdown with the effects of delta it's kind of inertia into the options expiration, and we'll see what comes thereafter. delano, do you think that delta will debate before it pulls the market back? >> wilf, that's a great question we're looking at the numbers, the rolling seven-day average. different areas the experts are saying cases are look to go peak, and actually be really
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patient. we have positions that we're comfortable with the market has been pushing forward and there's really nothing that they can do to shift as we're waiting for more data our clients have been patient. >> it's such a could point, stephanie, and whether we are peaking or not meantime, the rest of the world, we are seeing restrictions and lockdowns put in place in key economies. and you're talking about multinational players that will be affected by that. >> for sure, absolutely, but look at the uk numbers, india, it seems like they have already seen a peak. china looks like a mess at this point, they're closing ports so i think we have to step back and say the economic daughters is very solid. the stimulus is very, very
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solid. we'll get more rates are going higher now finally for the right loans. watch the velocity of rates, the speed, right i think we can handle it again it's back the economy is getting better i think that reflation story has legs i think inflation stocks and cyclicals have lacked. and now maybe we see a bit more catch-up between now and the end of the year, as it reflects economic growth. and that's the cyclical side >> mike, where has sentiment settled, though? >> you know, it's been relatively muted at this point i think we came into the summer months with a bit of overexcitement, or at least people basically all in. i think the grind and the delta headlines have mo moderated a bt
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in terms of the mood, the risk appetite, you see the meme stocks actually struggle a bit, and we're really much more plodding in our progress, as opposed to a lot of jumpy, speculative flow a survey now shows a decline in bullishness. so i don't think it's giving you too much of an edge in either direction, but it's different to may the case that people are super over-opt mythsic. >> deirdre bosa has the results for airbnb which are just hitting the tape now hi, deirdre. >> shares up about 2%, revenue slightly better than expected. a lot of 11 cents per share. unclear if that's comparable to the definitive estimate, but should note it was another adjusted ebitda quarter.
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they nearly matched pre-covid levels the company does expect more volume activity with the delta variant, and higher cancellations, however, even amid that uncertainty, airbnb expects third quarter revenues to be at a record, and also a record adjusted ebitda and margin in that quarter they're being a little more cautious on the fourth quarter, saying they're not sure how willing people will be to travel in the fall versus the summer. no guidance there. active listings, this has been a big topic. they say the total supply overall is the highest that it's ever been on the platform. long-term stays continue to be one of the fastest growing segments guys, we'll continue to look through this, lots of color, so i think the takeaway perhaps is the delta variant is still causing cancellations, but they
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expect record revenue next quarter. back to you. >> deirdre bosa, thank you >> delano, your immediate response, especially this idea that q3 revenue will be record rate, but you have underoccurrence of uncertainty. >> it's consistent with our previous quarter, saying they weren't really sure. there's that uncertainty going forward, right this is the company that really has to re-scale to see a bottom-line profit, and i think that's goingto be difficult, a they navy gatt this going forward, but long term, if you look at what the platform can do, the amount of how that are super hosts are growing, that's
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a key metric, especially for investors who want to be in this long term, how do they create passive income but i still -- kristina partsinevelos has the numbers on disney. >> we saw them come in at 80 cents, a huge beats off the streets. $73.02 billion, much higher than what the street was looking for. that number we were paying close attention to, the number of paid subscribers came in at 160 million for the third quarter. this beats the street. disney beats on the top and bottom line. the stock is up over 3%. back to you. by the way, tonight "mad
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money's" jim cramer will speak with disney's ceo. you don't want to miss it. doesn't seemingly apply to disney, for this quarter, at least. >> no, it doesn't. disney is newer to the game, less penetrating to the u.s., so i do thing there's more momentum, a little more up side, but certainly reassuring disney doing things -- releasing things currently on disney plus along with theaters. certainly would have gotten away from any concerns there was outright declines in growth, or, you know, falling short of estimates. i think the streaming side is steady as she goes that story is intact in general -- disney doesn't do a ton of detailed guidance, but the performance looks pretty
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much reassuring as well. >> spiking about 4% now. stephanie, your initial takeaway from these numbers, specifically the subscribers, which i know the street continues to be so keyed in on. >> the subn numbers is what we want to hear with the stock down 3% year to date, headed into the print, it was a low bar, right these are great numbers. i would expect the stock to continue to see green on the day and tomorrow >> delano, do you hold this one? >> this one i actually hold. when i'm looking at the streaming competition, i'm more overweight on netflix versus disney, but as stephanie said, we're looking at a situation where disney plus was a bit catalyst here. that is something, you know, that's positive. i haven't been buying over the last several months, because i'm
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looking at, as mentioned, a risk to the -- and kind of a big thing that's pulling investors out. it's something that investors can really reevaluate. >> mike, i'm just going through these results. there's commentary in here about content and disruptions to production, and although most film and twill production resumed, we continue to see disruption as well as live sports events, depending on local circumstances. again, i think it sort of speaks to you need to feed the content beast, essentially, when you're talking about some of these streaming services, and then the thing about disney, or comcast, our parent company, they have different levers to pull around things like parks or cruises, et cetera, and the pandemic playing into that. >> for sure. it's not necessarily a surprise they throw the disclaimers out
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it seems like they have found a way through a lot of it. the commentary around the parks numbers seems like there's no real cause for concern obviously anything can change, but for now they're riding still almost the momentum push that was, you know, in place for a few months now we're not sure why steph, more broadly, earnings season in general, do you worry we are at peak earnings growth? >> yeah. we're definitely at peak earnings growth. we won't see 85% year over year the next quarter or the quarter after. and we're also at peak economic growth i get that, too, but i think we'll day above trent into next year and that will carry into earnings as i mentioned before, the free carb flow, i like what i'm seeing they're also filing it back into
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other parts of their business. so this is everything we want to see. i just expect the numbers to continue to see the moment stronger than average. that's good for stocks if earnings are going up, stocks follow earnings. let's get to doordash's numbers. deirdre bosa has those for us. >> a mixed report here, a wider than expected loss per share 30 cents was expected. and the expiration of the lockup bush but the q2 market gob, group 70%. that's better than the street expected, however, keep in minute that's down from over 200% last quarter, so we are seeing an easing of demand the
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company is raising its guidance for full-year gop growth, and adjusted ebitda. adjusted ebitda came in at $113 million. i know you guys were compares it though uber, but it was a wider than expected loss also wanted to mention the dasher supply, amid that labor shortage we've been talking about, they're not spending on incentives, and had more first-time dashers that this ever before. noting that 82% of dashers had never done ridesharing and don't plan on it, so a bit of shade there toward ridesharing. >> so their delivery stock had never considered -- being an uber driver? >> they say 82% of their dashers
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want nothing to do with ridesharing. they're happy delivering food, but they don't have a desire to go on to uber and lyft and drive actual people around. >> there we go i misunderstood what you said there. anyway, thank you very much for that, dee. doordash's cofounder and ceo will break those results down tomorrow on "techcheck." don't miss that one. delano, are you in any names >> i'm not in doordash obviously the headwinds with getting to the bottom line view positive, and showing expected growth as well on the top line, but you look at the regulatory risk, they're looking at the battle of classifying, you know, the drives that aren't currently -- looking to classify
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them as workers. it's actually positive, but you look at the levels we have, this is the name that you want to have full market share they're about a third, if you look at market share, roughly a third in the u.s it's an area i'm still watching, but not totally sold on it yet great you to see you both, as always. >> thank you. >> thank you, wilf. up next, more reaction to disney's earnings beat, when we speak to an analyst. plus astin martin executive chairman lawrence stroll, the outlook for the electric vehicle industry, the f1ea tms still to come on "closing bell" today.
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they are also giving guidance here, expecting strong growth to continue in the third quarter of 2021, adjusted net revenue of $245 million to $255 million for the quarter. expected adjusting ebitda of a loss of $7 million to profit of $3 million also adjusted net revenue of $980 million, adjusted ebitda of $28 million. back over to you. >> kate rogers, thank you. shares of disney meantime
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are moving high, the company beating the top and bottom lines. we have scott as well as alex sherman. good afternoon to you both alex, i know i've been combing through this release certainly this is subscriber numbers, 116 million for disney plus, better than the street expectations getting a lot of attentions. >> that's the big one, just in gen general, that's not an apples to apples to netflix, but it giving you a general indication of how successful disney has been transitioning its business to stre
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streaming disney is really catching up. disney wanted to put ahead this narrative. because netflix has been the dom dominant. >> that's why you see context -- sorry, go ahead, wilf. >> my bad. i didn't realize it was you. i was going to say, alex, i love the piano. >> you need to round out this -- >> i can play for my kids ask all the time instead, i'm going to go to your other area of absolute expertise. we always talk about who will be next in the media m & a race,
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but i guess we never talk about disney in that conversation. could they still be buyers >> sure, it wasn't that long ago that it was tens of millions transaction for disney yeah, i think they are absolutely a player for some of the smaller assets that are still out there. the question for disney has been, historically, their successful transactions last quarter intellectual property. they have been phenomenal acquisitions so if they are to do a deal, you would have to wonder if that's the route they go again, ms. some intellectual property, some independent studio, thatk they can just slot in and strengthen one of their streaming services. >> mark, i know you have a buy on the stock, but the parks also returned to profitability as
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well >> they did. after last quarter, we had a bit of weakness there, both netflix and disney the weakness has continue for netflix, but not for disney. just to close on the disney plus numbers, but my numbers, disney plus is about 90 million subs behind netflix globally. with this number, it's sort of trending to roughly a 20 million net add gain on netflix this year so i think it's showing some nice momentum. certainly it's behind netflix a bit, but over a short period, it continues to go here it's about
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10% better so nice early profit sign, so that indicates to us, at least, but a little more commentary, and i haven't gotten through the whole press release yet, but how the delta variant has been impacting attendance in any sort of, you know, distancing restrictions or capacity restrictions, i should say, for disney at any of its parks. those are the two bright spots in my book >> mark and alex, we'll have to leave it there, i'm afraid thank you both for joining us. don't forget to tune in later to the hsherman songs later. and don't forget to tune into
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"mad money" with dave capek. mike at his instrument of choice, the telestrator. >> absolutely, wilf. obviously consumer staples have been on the outs right now take a look at this, which shows that the weighting this consumer staples intersection is close to a record low that's at the peak of the tech bubble in the year -- and we're about 5.5% here. so when energy, as a sector, was at a record low, that was part of the bull case that obviously has been a good piece of logic >> you can argue longer term they won't ever be -- but worth asking the question if they're
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so nuggeted and disfavored that it is time to start taking a second look. >> i would argument that healthcare is getting a bit of that quality and defensive bit that consumer staples are not getting. a couple months ago, it's something to watch it may be time to consider if they're getting sold out much more reactions today, as after-hours earnings is still ahead, though. up next, evercore mark ma henny on doordash, and what he wants
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to hear, plus, do not miss a rare interview with billionaire investor and executive chairman lawrence soltrl on the automaker's turnaround plan. that's later on "closing bell. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected.
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airbnb and doordash announcing their numbers moments ago. joining us now, mark, great to see you, as always thanks for joining us. how does airbnb compare relative to some of the other travel holiday companies that have reported recently. >> two points. one, this has been a high bar expectations quarter i think we tracked almost 90% of consumer internet stocks, almost irregardless of their results. multiples in the group are still elevated they probably need to come down. dramatic recovery in leisure travel demand, and a bit of a p pause in july. now airbnb is warning that these
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delta-related issues are causesing a rise in cancellations, and a bit of a pause in bookings. >> did that help, relatively speaking, in comparesing to other companies? >> across the board consumers became more aware of alternative accommodations during the covid crisis, and they booked more of their leisure travel with travel accommodations, i.e. right down the runway airbnb has materially gained share as an online leisure company in the last 12 to 18 months there's a couple other ways in which they took out a lot of costs they should have
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taken out prior to covid, but covid forced them to do that we like airbnb as an asset i realize that near-term troubles with this company in a covid environments, but if you look beyond that, this is a high quality business model >> what do you think of doordash, which saw revenue grow, what the difference is they have the real-touch comping, but deirdre pointed it out, you've this dramatic deceleration of course you're going to have that what they need to talk about is their ability to expand into international markets if they get both of those right,
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there's a lot of up side in the stock. >> i see this given some of the commentary and the new chair there, in recent days, around consolidation and competitive pricing. you think doordash can do some deal that means that both should be temp tempered you think about selling you have no idea to go it organically >> mark, thanks for joining us
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great to see you, as always. the pebble beach car auction is kicking off our robert frank is there, i'm delighted to say they's there, with one of the biggest names in the luxury auto world. >> it's a race to save astin martin we'll speak with the billionaire who has made a bet on the brand made famous by james bond. that's coming up after the break.
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it is time for a cnbc news update with the one and only tyler mathisen. >> thank you so much, wilf sony pictures delaying its "venom" sequel by three weeks, due to rising cases. it will now open on october 15th the delay could signal more postponements as the movie business struggles to recover. in iowa, governor kim reynolds welcoming people back to the iowa state fair up to a million visitors expected over 11 days, organizers not require people to wear masks or prove they've been
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vaccinated. on the news tonight, i will be filling in for shep smith and bertha coombs reports on coaxing vaccine holdouts to get their shot that's at 7:00 p.m. eastern time hope to see you there. homeland security secretary may mayorkas visiting the border, saying surges at the border are nothing new. >> the iowa state fair, i've been there there's a lot of meat on the stick. tyler mathisen, thank you. he made his fortune in fashion. now lawrence stroll is trying to apply that same formula for s. in the auto industry hi strategy is straight ahead. as we head to break, here is another check on today's
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after-hours earnings movers. disney shares surging after a big beat airbnb, doordash and sofi, all lower after reporting results. stay with us
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the pebble beach car auction shifts into full gear today. more than $300 million worth of the most expensive cars.
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among the names is astin martins. robert frank joins us along with the chairman, lawrence stroll. robert, over to you. >> reporter: wilf, thanks. lawrence, thanks so much for joining us. >> a pleasure to be here. >> reporter: you have put a billions to this company you just said in a press conference, you're very proud, but the share price is down almost 90% from the ipo price. what are investors missing what do you want to tell those investors right now, who are disappointed frankly, in where these shares have gone. >> it does require an explanation. first the billion includes the formula one team which was started three years ago, so a bit further back, but about the question about share price, there's a slight confusion the company did a share price at 19 pounds, i believe
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don't quote me, but around that. there were a couple issues last year, which brought the new share price to approximately 10 pounds, 10 or 11, so the actual share price today, which i don't check every day, i think is about 20 so since i took over as executive chairman, from a $10 share price, we're currently at 20 so it's doubled since i have taken over. >> reporter: if you look at th quarter you just reported -- it was a great quarter, revenues more than tripled, you're still losing money, but less of a loss than a year ago. the dbx is clearly the driver here was your target for products for this year? for the next two to three years? and what about eventual profitability? >> as we've said this year, we're on track to hit our numbers.
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we just mentions that last week. we also have a road map of how to get to 10 those units within the next 3 1/2 to 4 years, by 2025 we are on track to hit that plan you touched it our sports cars, our sport intakes exceeds expectation. dbx has been phenomenal, basically doubled the volume cha the company had? >> reporter: that's the suv. >> yes, sorry. that is our suv. we're now selling equivalent and our sports cash, and the dvx, which is an suv. and that's to be followed up with a mid engine program, two of which you are seeing here today, and then we have an opening pride point coming in '24. we have a plan to be cash flow positive within the next 18
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months that we have already mentioned. everything is on plan to do that i think the most important thing is the business is now completely derisked. there was five milestones that i had to accomplish in one years in order to achieve that thank god, i'm very proud of myself, i've been able to do so. one was to get the company on strong financial footing now it has, from all the money we raised, to see our business plan through comfortably of getting to 10,000 car, 500 million of ebitda by 2025. the company is fully funded to do that. we can now check the box, the orders are there, the customers love it. i think it's the best-looking suv. it drives like a sports car, so no risk of the suv not selling, which two years ago, prior to delivery, of course, we didn't know third, i brought in the best
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management team, best ceo, he understands this business, he also's a cto, a chief techology officer, which is rare in the business fourth was to get mercedes to be a very large -- the largest minority shareholder in the business, the second largest shareholder after myself a company of this size needs a big brother like that, but the relationship is different. we have bespoke power units, and it's different from the historical relationship with mercedes it's stronger, better, to a new level. the last was product range, including going directly into our own electric vehicle today we're launching or hybrid for the first time, combustion with a hybrid engine and the last was to launch, as we're sitting here, our formula
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one team in british racing green. the market, all those initiatives, all that product, to take the technology out of the formula one, to put it in our mid engine cars, to immediate our customers at 23 grand prixes around the world. in those 23 countries, we have 21 dealers, so we got to meet about 500 customers every race i don't know another business you can do that and touch your customers. so, for us, all the risk is behind us. i have delivered on every single thing i have said to the public since the day i became executive chairman, and far surpassed what i promised i'm very pleased to say i've delivered, the risk is behind us, we have tremendous growth in front of us, and a formula one
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team to market it. it couldn't be much better than now. >> lawrence, it's wilfred in london, thanks so much for joining us i wanted to pick up on that last point. you're such an expert with luxury goods i wonder how surprised you were at the success of attracting fans to the formula one team, given, of course, it was the changing of the name of an existing team, as opposed to the great history of the brand in original sports cars, and whether you've been bryced how it's managed to transition from luxury brands to a sports team and the fans who flock to it >> you know, i haven't ceased to be amazed by this brand since the day i took over as executive chairman the power of this brand is simply remarkable. when we brought to our first formula one race our beautiful car sitting beside me, we had
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over 135 million followers on social media, from one race. so that completely shocked me. unheard of, unprecedented. it just showed how much support and how many fans are behind this fantastic institution >> i also wanted to ask about the netflix series "drive to survive. formula one is an enormous passion for a lot of people, but it's also quite niche. has the netflix show broughtened that appeal? do you feel like the sport, the live races are getting more viewers because of the netflix series >> most definitely netflix has done wonder for formula one, particularly the american audience. as you know, we only have one race in the united states. it's not part of the american culture, the way it is in europe
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or asia, who have had so many races over the past decades. it's coming into people's homes, and opened up, shown them what the world of formula one, inside the sport, not only on the track, but humans, lives, drivers. so it's been absolutely family all for the sport, particularly the united states, but globally as well. >> lawrence, we can't leave this without asking about james bond. >> sorry, lawrence we're confusing you there. i'm going to jump in with this question we're both going to ask about the same topic, though, about james bond to what extent -- how important is the association with james bond to the brand? on top of that, home court watchtight wa how watertight is the relationship with the brand >> i think we're both important
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to each other. that's when a business or association, relationship, works. i don't think james bond would be the same without an astin martin in it, and i don't think astin martin would be the same without being associated with james bond it's a perfect marriage, a two-way street that works for both of us so i think we enjoy each other and appreciate each other's relationship and partnership as far as contractually going forward, i believe it's our intent to continue for many years to come. is there a formal signed agreement? i honestly don't know. i know it's our intention, because we're already talking about what cars to produce for the next movie this movie, which comes out of the september, we have four astin martins.
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>> it comes out in october, i think. i wish it was september. i've been waiting for it far too long. >> yes, i believe the -- october, i think the premiere is the end of september in london. >> maybe you'll extend an extra invite. >> i think we can work it out. >> thanks to robert and lawrence, awesome interview, awesome backdrop great-looking cars, and guests and hosts. lawrence and robert. up next, another check on ve, clinafter-hours earnings morsinudg a big beat by disney we're back in a couple
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the first quarterly report since the company went public by a spac in june adopt forget to watch jim cramer's conversation with bob chapek mike, there's a lot of interesting big movesers there, but disney will certainly get the most attention >> it will at this point, it's going for something like 60 points on the dow. obviously it seems ago if expectations had been moderated for the quarter, given how the stock hadn't really done much. it's very disney specific. aside from theme parks, you know, characterizing bookings at those parks strong, is probably a net positive, or at least a bit of comfort for anyone -- though trips to disney is probably the last thing you cancel, right, morgan? >> it's so expensive. >> people plan for years.
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yeah, okay, great. it's been a pleasure to be with both of you. that will do it for "closing bell." "fast money" starts now.
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live from the nasdaq marketplace, this is "fast money. i'm filling in tonight for melissa lee. tim seemo, dan nathan, and jonathan, a semismackdown, the worst days since march, it's not the only chip getting checked. a couple new names on the market we're dialed into the calls from airbnb, sofi, an


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