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tv   Fast Money Halftime Report  CNBC  October 28, 2021 12:00pm-1:00pm EDT

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it's costing us significantly. i met -- in pittsburgh i met an ibw electrical worker who crawls up the power lines in the middle of storm to keep the lights on when the storms hit. he calls himself a 100% union guy. his job is dangerous as he said, i quote, i don't want my kids growing up in a world where the threat of climate change hangs over their heads, end of quote. folks, we all have that obligation, an obligation to our children and to our grandchildren. the bipartisan infrastructure bill is also the most significant investment when they built the system and won the space race decades ago this is about rebuilding the arteries of our economy. across the country now there are 45,000 bridges and 173,000 miles of roads that are in poor condition.
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some of the bridges you don't even take the chance of going across they shut down they can't be built back to the same standard because the weather is not going to get a lot better and they'll keep getting a heck of a lot worse. we have to build back better and stronger i don't want to from to run down, we'll put hardworking americans up to spot up to speed. prevailing wage, sxrbs where you could have broking room. jobs that can't be outsourced and lead wurt pipes so families can clean water and putting pain fillers to work. laying thousands of miles of transmission lines to build an energy prid. jobs making high-speed internet affordable and available every
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in rural mc, particularly the 35% of rural america that goes without it right now this pandemic has made clear the need for affordable and available high-speed internet. the idea of a parent strong put their kids in the car for virtual learning, drive and sit in a mcdonald's parking lot so the child can access the internet when school is taught virtually is not only unnecessary. it's just wrong. it's wrong as i said before, these plans are fiscally responsible they are fully paid for. they don't add a single penny to the deficit. they don't raise taxes on anyone making less than $400,000 a year in fact, they reduce the deficit. here's how -- i don't want to punish anyone's success. i'm a capitalist i want everyone to be able to, if they want to be a millionaire or billionaire to be able to seek their goal, but all i'm
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asking is pay your fair share. pay your fair share. pay your fair share. and right now many of them are paying virtually nothing last year the 55 most profitable corporations in america, 55 of them paid zero, zero in federal income tax on about $40 billion in profit. if they report big profits to their shareholders, they should be paying taxes. it's that simple that's yet build back better framework will have a 15% minimum on the largest corporations a minimum tax of 15% the top 1% of the wealthiest americans is estimated by the experts $160 billion a year in federal taxes. that's wrong we're going to change that
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i want to emphasize what i said from the beginning under my plan if you earn less than $400,000 you won't pay a single penny more in federal taxes. period these bills continue cutting taxes for the middle class, for child care, health care, so much more let me close with this, for much too long, working people in this nation, in the middle class in this country have been dealt out of the american deal it's time to deal them back in i ran for president saying it was time to reduce the burden on the middle class to rebuild the backbone of this nation, working people and the middle class i couldn't have been more clear from the very moment i announced my candacy and that's why i wrote these bills in the first place and took them it the people and the american people spoke. this agenda, the agenda that's
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in these bills is what 81 million americans voted for. more people voted than any time in american history. that's what they voted for their voices deserve to be heard, not denied or worse, ignored. here's what i know we make these investments. there will be no stopping the american people or america we will own the future i've long said it's never been a good bet to bet against the american people i've said that to foreign leaders as well as everyone here in this country, which means it is always a good bet to bet on the american people, just give them half a chance, and that's what we're doing that's what these plans do they're about betting on america, about believing in america, about believing in the capacity of the american people look at the history and the journey of this nation and what becomes crystal clear is this. say it again, given half a
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chance the american people have never, ever, ever let the country down so let's get this done god bless you all and may god protect your troops and i'll see you in italy and in scotland thank you. [ indiscernible >> all right that was the president announcing a framework agreement for his social spending program and all $1.75 trillion about half the size of the original proposal that underscores just how difficult it has been to get to this point for the democrats. disagreement within the party on what would be in that plan and more importantly, how it would all be paid for. our kayla tausche is covering that part of the story for us. ylan mui on what happens up on the hill and kayla, we begin with you first >> well, scott, president biden is taking his pitch directly to the american people, walking out on to a messaging tightrope to argue that this package is
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exactly what voters voted for last november and that it upholds two critical campaign promises not to raise taxes on individuals making less than $400,000 and to compromise with lawmakers in order to get some of these priorities done president biden noting no one got anything they wanted including me of course, many of those key principles were left on the cutting room floor throughout this negotiating process and what's unspoke sen that the negotiation was needed across the democratic party for this social spending package based on the wide variety of views and the division in the democratic party at this moment that is the governing reality for democrats even as they hold the presidency this morning president biden told democrats that their ability to get these packages across the finish line will determine whether they stay in power on capitol hill next year and he told them if they
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are able to get these packages across the finish line, that he believes the legacy could be greater than lbj and fdr combined scott? >> all right kayla tausche, thank you very much kayla on the hill. now to ylan mui on what happens next ylan, is it a done deal up on the hill or do we still have negotiations to take care of >> yeah. not at all a done deal, scott. it is unclear if this framework will be enough to move the ball for progressives who want assurances that this broader package can pass before they vote for an infrastructure bill. progressives in the house are meeting this now in order to discuss this and the head of this caucus is calling this a loose framework and said that the president is taking a leap of faith in believing that two moderate senators joe manchin and krysten sinema did put out a statement saying she looks forward to getting this done and
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she didn't say she would vote for it and neither senator mafrn sxin he's been working in good faith and it is in the hands of the house. we'll see if nancy pelosi does call for the infrastructure vote today and if she holds progressives' feet to the fire and see ifthey can get that deal done for the president and right now progressives are holding the line saying they do not believe that this is strong enough for them to vote for the infrastructure bill imperilling the passage of that package. >> i want to ask you about salt, as well because it's not in. congressman neal says it is going to be in the final bill. is that what you know? >> yeah. so the latest that we've been hearing is what they would do is repeal the cap on state and local tax deductions for two years and potentially add it back after it expires in 2025 in order to pay for it. that two-year repeal would cost somewhere in the neighborhood of
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$180 billion and think, he heard the president say he doesn't want this to add to the packable a package at all this will be addressed in the final package, but exactly how it is done is pretty fluid >> ylan mui thanks to you in washington stocks you know, there's the picture. they're higher perhaps in reaction to that deal. big day for apple and amazon they report after the bell the investment committee here to break that down. joining me for the hour liz young, josh brown, and jon najarian co-founder of rebellion.com. stocks and bonds, we're not having bond yields on this news and i'm wondering if it's because this package from the president is not as big as feared it is half of what the original cost was and the tax hikes are not as bad as feared, if you want to say it that way. what do you think?
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>> i think half of that is true. if you look at the package, the package is expected to be paid for so this isn't going to be deficit spending and this isn't going further fuel inflation or require us to print more money and that's a positive for the market the big positive is that those corporate tax increases that we all feared seem to have completely disappeared from this bill there's going to be a little bit of a tweak here and there on corporate taxes, but not nearly the level that we thought would happen as we saw, not a done deal yet some of them could come back on the table, but i do think markets are reacting to that today. i do think that markets are reacting to the fact that earnings season are good and i came on the program last time and i've gotten more negative and some of my concerns were growing and i said there were going to be too high and that went over like a lead balloon. the market said watch this, liz and there have been positive development and this package is one of them.
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>> weiss, as we look ahead to apple and amazon, will they continue to carry things forward the way that microsoft and alphabet and some of the earnings have done, as well. >> you know, that really is an open question and there have been rumors that apple is cutting down due to supply chain issues and some of the companies that i spoke to. that is a possibility and however the market would look through and we've heard supply chain in the past through earnings that we should be somewhat immune to any further location mark. in terms of amazon, look, the stock's been basically flat and its had headwinds and more perceived headwinds than actual which is the supply chain hurts their sales if they can't get the products and they're not getting the same-day delivery on some of their routes because again the supply chain and you have a new ceo so i personally think amazon is going to catch up.
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we've seen the bank stocks go through a period of this, but if you're patient it will do well that doesn't dictate the future and no intention to do anything with earth whether they sell down or move higher. >> dr. j, what does the market tell you >> two big things after the stocks after the bell. >> amazon, they are buying like crazy at the 3500 strike right now, scott, i was about to text you that one because they are buying, buying, buying, they're taking these calls and they're expensive as most of the stocks we talk about, but when you're talking about a $3500 stock or nearly that, it's not surprising to see a $25 out of the money call because that's what the three 3500 calls started at $25 they're right now at $47 so they've nearly doubled on the
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day so far 11,400 of those changing hands then you flip over to apple, scott and we've got huge buying of the 155 calls obviously, the stock has moved through that level and they're buying up to the 160 strike in apple right now and interestingly, i have not seen february action this heavy ever in the last several months since they listed these calls, the february calls and now they're buying the 170 calls out in february about almost 30,000 of those, i believe, scott. so, yeah, a lot of upside speculation in apple and in amazon although they're not predicting extraordinary moves, but they're predicting the same sort of moves percentage wise that we've seen as microsoft moved up from 309 to 330 or there about. that same sort of percentage
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move predicted in both amazon and apple in the call buying >> liz young highlighted the quick change in the tone of the market that we witnessed in the last few weeks from when she was on and now the market is back where it is and apple is a big representation of that and i'm looking on my screen right now it's only five bucks now away from a new high and that tells me how the overall market has reacted of late and can it keep going? >> well, i do think the stock will move on whatever the number is i don't profess to have an edge on whether or not this will be a great quarter, an okay quarter or a bad quarter or what the -- what the reaction of the crowd will be, but i would just point out historically, you have not been rewarded for having an outsized reaction to any particular single quarter for this company so i think this is the type of stock that if you don't own it
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you feel like you were missing out and if they report something that's disappointing to short-term people and there's a negative reaction in the stock that's your opportunity, right apple usually has one quarter a year where it's very far off of expectations and if they were to have a quarter that's not a great quarter, it would make sense for it to be this one, because of all of the issues that we come on and talk about every day, apple will feel them as acutely as any other company trying to manufacture products in one country and sell them in 200 other countries. so i think the street is aware of what the challenges this quarter have been and i don't think it's a make or break the stock is flying again. it's just been an incredible name all year and take advantage if you're not in the stock if we do get weakness after the report historically, that's been a great trade. >> i've been speculating as i mentioned with all of you that at least part of the reaction positively in the market today
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steve was that the biden plan at least from a tax standpoint isn't as bad as some feared. we're talking about apple, one of the largest buyback companies on planet earth, if not the biggest. there is the provision in here for the 1% surcharge on buybacks do you think that will have any impact whatsoever on companies' willingness to continue to buy back their stock >> i don't think it will impact whether or not they do i think it will impact on how much they buy back they'll have to account for it we really don't know how that's going to work in practice, but if you're going to buy back and you're not going to let that be a cost over and above. it's going to be embedded into what you do. so, look, i think there is some relief in the market that the tax situation isn't worse than
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it was and nobody really thought this the onerous tax increases would take place and that's pretty clear we still don't know if these tax increases will occur and i'm surprised biden came out so optimistic about the plan when we still have, you know, the moderates. >> the wild card, obviously, the progressives on the far left >> right who came out this morning and said this is still a no go for us i'm surprised the market and actually i don't think they put much into it and we're midway through earnings and we have good big tech earnings and there's an expectation that they will follow through with apple and am one >> it wasn't lost on me that the president was scheduled to speak at 11:15 he was at least a half an hour late and from all indications, the following twitter feeds and
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the negotiating is still going on so your point is well taken we'll just go with what's said to be in the framework josh, what about that on the issue of buybacks because when you talk to people who are bullish the market and optimistic on where things can go, one of the points that people frequently reference is the power of buybacks. this will in any way influence corporate activity >> i don't think so because it's want a big surcharge it's not particularly punitive and it's still a better deal than dividends, and i know this is controversial people cling to these differ d dividends and in the end it's double taxation and in the end it's not if you have a 1% surcharge, so what to return excess capital to shareholders the tax is being taxed on the earnings and you, the recipient are being taxed on
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the additional income. so that will never look better than shrinking the float, increasing the earnings per share bottom line that way and so i don't think it will have a big impact on all the -- on the corporate minimum 15% globally, i'm okay with that. i can live with that i think it makes sense i don't think we should have profitable companies that write down everything to the point where they pay no taxes. i don't think -- i don't even think that would be a contentious point in the negotiations it will probably happen because it affects 700 people give or take and those 700 people, although powerful are not more powerful than the 300 million americans that say all right tax them, not me that's fine. so i actually think a lot of this will end up going through and i don't think it's going to have a catastrophic effect in the markets anywhere i think it will be perfectly
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fine. >> leading up to the ochgss market and i ask you all this question every time there is an earnings report and i started speculating more about it once the torch was passed from bezos to andy jassy whether amazon would ever split the stock and whether this might be the time he's gotten his feet on the ground as the ceo. the last quarter was his first report and now we have this one, whether this could be the time or amazon would split its stock price and what that would mean certainly could, scott i've not heard a lot of chatter about that at all even among folks that are amazon bulls like me because quite frankly it's almost like berkshire at this point where when the stock's priced this high people just -- they don't want to get out to have to get back in and have all that slippage in between because of the price of the stock.
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to josh's point about the billionaire's tax and i agree with what josh said there, one of the things embedded that would have impacted a stock like amazon was when they were discussing taxing gains that you had not taken. in other words, a capital gain where you sold and recognized a profit is one thing, something on paper only and taxing that that was part of these discussions for that millionaires or billionaires tax. that's something that would be a huge negative for many of these stocks, much more so than the 1% number that we're talking about here because of all of the embedded gains that are in these stocks, apple included that if all of a sudden you said we're going to tax you on those unrealized gains and do so on an annual basis or whatever, that would be incredible and i think not just punitive, but very negative for the market. >> what does it mean for shares
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and shareholders if amazon did split its stock? >> you know, i think it would be great. while it has no economic or financial benefits to the company or shareholders, we've seen what's happened before with apple, with tesla with others where they'll come out and split the stock and people say hey, you know what? it's cheap look, $1,000 invest in either one share or 100 shares provide the same return and that's however not how retail looks at it and not all retail, but some. >> you do potentially open up your stock to a bigger pool of investors. i understand the math behind it, but you undeniably open up the gates for more potential people to come in >> so i -- i had always -- i had always believed that the reason
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amazon wasn't splitting its stock was because bezos had seen himself as an acolyte of buffett and munger and their comment -- look at their share price. so the berkshire comment about the reason not to split the stock is that, i mean, this is a little bit insulting and you're inviting in a lesser class of shareholder, someone that is making an investment decision based on excitement is not as good as a shareholder who already owns your stock for the fundamentals so the stock changing hands from the, quote, unquote, wiser investor who is not there for the hype and then going into the hands of someone that's, like, ooh! berkshire is splitting apple is splitting and let me buy some apple, so i think that that's a very quaint, old-fashioned notion at this point. we saw what happened with apple, 7 for 1 split and obviously, we saw what happened with tesla's split. i think there's nothing wrong with having a share price appear to be more affordable even though all we're doing is
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slicing the pizza pie into more slices and into the same pizza, but i do think in this day and age everything seems to be about democratization and bringing in people who historically haven't been part of the markets and making things appear to be more palatable for investors with less experience, et cetera, et cetera if that's the ziet eitgeist it it goes to a split of 4,000 pretty easily. you can judge the people who would buy it on a split, if you want i'm past that and i'm good with it >> let me get a quick comment -- >> hey, scott? >> sorry i would just say i would trade in front of it i would disagree with johnny cash on that a little bit because i like making money and it would definitely go up. >> i was coming to you, weiss, on terra adyne and it's up almot
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12% and the stock you recommended on the program, and upgraded today to outperform with cowan and double upgraded at ubs to buy. they had a sell on it. do you continue to hold it here or do you take some profits? >> no, i continue to hold it here look, i bought it on october 14th, it's up 25% and the reason i bought it is that semis continue to expand in terms of the total addressable market and you have to test your applications you have to test where they are now in terms of the devices and continuing work. so they are basically, you know, you can't have semis going to anything without having test equipment. they're across all industries, defense, autos, et cetera. so i think it's still very cheap and goes a lot higher from here. >> coming up, we have an exclusive interview with light street capital with glen kacher. he'll reveal that on the halftime report and he'll do that in two minutes.
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as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage.
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it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat.
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only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. your cnbc update at this hour. the justice department will celt a lawsuit over a faulty gun purchase background check. families of nine people killed by dylann roof at a south carolina church, that he used to buy the gun in the 2015
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massacre 20,000 utility customers are still without power. while cleanup has begun, some schools are out today and it could take days to fully restore power. cigarette sales slightly rose last year. this according to a new federal report that report did not cite a reason for the rise, tobacco executives say the pandemic have given smokers more opportunities to light up. a new study shows an inexpensive anti-depressant may reduce the need for hospitalization mook high-risk adults with covid-19 a larger project searching for existing drugs that can also be used to treat covid patients on the news tonight, the coronavirus and getting kids vaccinated and that's tonight at 7:00 eastern scott, back to you thanks very much seema modi top money managers at the san francisco conference yesterday one of them touting what he calls the netflix of wine. let's get to leslie picker with
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the cnbc exclusive >> that's right. glen klacher, light street capital cio is joining us alongside nick devlin naked wines' ceo thank you very much for being here glen, let's start with you because you gave a presentation as scott alluded to calling naked wines the netflix of wines. what do you mean by that why do you like this stock >> leslie, i'll start at the top. you only find opportunities like this once every two or three years where you can multiply your capital many times over, you know, five to ten years. >> we think this stock is a four-bagger in four and a half years and much better than a ten bagger over 10 years and as a result, we bought 9.9% of the company. what's really amazing here is that nick and his team have built an ecosystem of winemakers that's the person that makes the wine, the sort of chef of the wine process, and he identifies
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the best wine makers in the world that want to make wines under their own brand name instead of working for a large winery and so the company is able to become an angel investor in those entrepreneurial line efforts and then sell them exclusively to the members of the naked wine community that pay $40 a month and spend roughly $500 a year on wine and so it's just an incredible business opportunity it's an incredible value for the consumer it's an incredible value for the winemaker themselves they get in the business without taking a lot of risk and make a wine under their name and it's really similar to the evolution that we saw with netflix where netflix went from originally they sold other people's wines, nick and his team have been doing this for 13 years with independent winemakers so they've got a huge head start in building real moats around this
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business, and we're just incredibly excited about where this business is going over the next ten years. >> nick, what's the total addressable market here? when you think about this type of product it sounds like it's perfect for people that are quote, unquote, wine snobs how much of those are out there that you think you could deliver on some of the prospects that glen was talking about with the 4x quadrupling and you really need to grow into that type of valuation and get a lot more customers. >> the reality is we have the business model that's perfect for the everyday wine-loving american, we operate in the u.s., uk and australia we see an addressable market of $30 billion. the u.s. is the biggest part of that it's $30 billion addressable markets and everyday americans that like to drink wine and spending around ten bucks a bottle and longer term there's an opportunity for the business as well and the model to stretch
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into other categories and things like spirits the way we see it we have a 1% share of that addressable market today and a heck of a lot of head room to go after. >> glen, i want to ask you about another position of yours, as well coinbase, a lot going on in the crypto space right now bitcoinfutures, etf and the marketplace idea, but when you look at what's going on with crypto trading volumes it's less of an optimistic picture there and how are you looking at this space and what do you make of coinbase right now we think it's an incredible franchise and it's the leading consumer and institutional crypto brokerage firm, for instance, facebook chose them to power the backbone of facebook's future efforts in crypto, and you know, we look at really while i was around in the beginning of the internet and you know in the early '90s and online trading came about then and that was an incredible
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growth opportunity for stocks, right? now we're doing the same thing with crypto, and if you compare coinbase, for instance, schwab, coinbase trades at roughly 18 times ebitda schwab trades it roughly 16 times today. schwab gross 10% to 15%. coinbase has been growing well over 100% a year, closer to 1,000% a year for many years and i think you hit on the question, what does it look like going forward and we look at the adoption of crypto and the speed that it's getting adopted by both consumers as well as institutions and large money managers and we see an incredible growth opportunity in front of us. will there be some ups and downs with let's call them less well-backed coins like a doge coin or a shiba coin and you will see bumps in the road
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and at the same time the bitcoin, ethereum and all of these up and coming defy coins, coin is the best place to make the investments in these coins and we see massive network effects coming into the business. >> glen, it's scott wapner welcome to our program it's nice to see you again with all due respect on coinbase, i still can't get over the move we're seeing in naked wines in real time it's up nearly 27% on this mention. i've always thought of you as a pretty astute technology investor, just given where we are on nasdaq and where rates may be heading, how do you see tech investing nasdaq stocks in general at this particular time? >> yeah. look, i look at it and we've been coming through a sort of period of tough comps in e-commerce sector, for instance because we're anniversary, and so we are one or two quarters
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away from that being over and whenever a headwind or tailwind is going to come to a point where it switches fractions, and the investor will start anticipating that. so i think the headwind on comps for e-commerce companies and it's about to switch within the most investors, investment horizon. so we're optimistic about the internet side of the business. i think there's no question software has benefited from if the growth, but it's still early, and only 14% of software applications operate in the cloud today. most of the software out there is still legacy. and so that's got to get replaced over the next ten to 15 years and so we're just incredibly long term bullish
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about the technology markets >> forgive me, leslie. i might be confusing you with somebody else, to be honest with you, i think i remember you investing in some chinese technology name, internet names around the way over the last few years. do you see that market as investable at the current time just given everything that's been going on over there >> it's a great question we have been on the sidelines for a lot of the past year or two, and i think now is probably the time to be entering and thinking who the winners are going forward. for instance, we are excited and own shares in companies like lee auto which is not an internet company, and we think it is a technology company xaopong, another automaker and we like companies like mejiang and other companies like ad.
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we are open minded to that opportunity going forward for sure >> glen, i wanted to ask you about the short side of your book has your statrategy changed during the frenzy you had positions that were driven up by some of that have you had that position or the short side of your book? >> no. i wouldn't say we've changed we're still out looking for fundamental shorts every single day and we've done incredibly well from february until now on the short side the short side of the book is creating positive returns for us, and so we continue to operate that side of the business and we find companies that we think are overdone and this is an interesting market where companies that don't deserve it are some of them are rallying and so we are able to short those companies. >> all right >> glen kacher lightstreet
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capital cio and the naked wine ceo, thank you both for being here today >> we appreciate it. >> we appreciate it, as well leslie, this move is unbelievable more than 40% move in naked wines on the mention by glen kacher, that's his play at the virtual conference in san francisco and we'll keep our eye on what is a stunning move on the intraday shares of ford meantime surging to seven-year highs after its first blowout earnings and guidance we'll give you that trade next a group of 300 airlines throughout the world have committed to netzero carbon emissions by 2050. in 2019 the airline industry was responsible for about 2.8% of global co2 emissions according to the international air
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transport association estimates the total cost would reach $2 trillion the lobby expects sustainable aviation fuel will account for 65% of emission production leading 455 billion leaders of sustainable aviation fuel will need to be produced each year and that is your esg fast fact of the day at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley.
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i want to show you something that is not a misprint naked wines mentioned by glen kacher moments ago is now up 113% the low was their 5 and the high $25. glen kacher mentioned that as one of his favorite plays at the conference out in san francisco. that is a stunning move, intraday for a stock that most people probably hadn't heard of before glen kacher even mentioned it let's talk about one people have heard of and that is ford and its guidance beat, a stunning quarter for jim cramer characterized it, and dr. j, you have calls >> yep
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got calls. loved what i heard on the call from the company, scott, saying, you know, the fleet sales, wholesale sales will be up again next year by double digits i don't think there was a single thing in this report that was negative, scott. so, yeah, a lot of firms raising targets from 17 to 19 and so forth. some even into the 20s love that, and like i said, i believe that these guys really are hitting it with the mach e and the anticipation of the lightning and that's the 150 electrified vehicle and so forth. i think they're doing everything right and i think it is time for people to lighten up perhaps because with the move being as big as it is, but other than that, i'm a believer >> now it's up only 65% and fast money underscored. >>hey tcut it in half
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they're making it fast and taking it fast we have more trades next and jon is back with unusual activity. we are back in the half right after this when we made grand wagoneer, proudly assembled in america, we knew no object would ever rank with the best things in this country. but we believed we could make something worthy of their spirit.
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>> yes, sir. this one's a little longer timeframe, scott, january. xbi. so we're seeing big upside buying at the january 134 call strike with the stock at 124 so it's 8% higher, it could make that move like that. second one, scott, take a look at what's going on right now in fisker, skr and they're buying the calls with the stock at 1630, i liked that one today and i was already in fisker and i did add that for a one-day trade. >> thank you now to a story from a charitable initiative from one of the cnbc contributor and women, and morgues have particularly hit hard sharon epperson joins us now with mere on a free financial counseling program to help moms rebuild what they've lost. it was created by social media
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influencer haley saks and our own josh brown >> hi, scott the u.s. economy has experienced a net loss of nearly 5 million jobs since february 2020 and women account for 57.5% of those losses the financial impact has been devastating for manysebrina smi. >> i had no savings. i was living literally paycheck to paycheck. >> i luckily had a little bit of savings but from there i had to finding other ways in order to pay my bills. >> smith and montgomery were selected for a special program to help moms hit hard during the pandemic over three months, ten moms had a series of lessons on retirement savings, life insurance and investment strategies in virtual group sessions. >> you're getting 100% return on your money just by the match that you're putting in. >> and one-on-one financial counseling with certified financial planners, women from the team of rick holtz fund management both moms got back to work
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now these moms are feeling more confident about their finances. >> through the program we decided that i needed to establish an emergency fund. >> the thing that i learned the most was about the 401(k). the majority of my anxiety was with my finances >> with financial counseling from finances are cool, moms are cool program, montgomery and smith say they relieved some stress around money and amo motherhood. >> i want to thank these moms too. josh brown, how did you get involved in this >> sorry, i just -- i just feel like we watch the stock market double the fastest double of all time and a lot of people are on the sidelines of that and they're just saying, okay, i'm glad business is back and stocks are back, but my pandemic is still
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going on and hailey came to me with this idea i have the in-house talent, the emily, dena and blair. by the way, they're all moms so dena got her two twins into college this past year and blair has got two babies at home and emily is the mom of -- is the single mom of a teenage girl and they took their time to work with these women and these moms and really give advice to people who have been forgotten about. the financial industry doesn't care about these people, but we care and there's so much of an obsession with scale these days. everything is about how many users, millions, billions, trillions. this was something that we deliberately kept small. one advisor to three moms. and i think because we did it that way, we've been able to have such a huge impact in these women's lives, their children, and it honestly chokes me up just thinking about what these ladies within my firm were able
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to do for these people and i want to do it again. i just -- i love seeing the outcomes so much >> again, big shout. >> josh, they want you to do it again. they want you to do it again, josh these mothers said when are we going to get to do it again. the advisers at your firm have opened their doors and said we're going to continue to talk to you on our own outside of this program but i know there are a lot of moms that want this type of advice and it's a great program and a great opportunity for them to get it. >> dena is out at lunch right now with the three moms that she counseled through this program they're having lunch today, so we're going to keep working with people and definitely going to do more of this. >> we love what you're doing josh, thank you for that sharon, thanks for the story big shout to emily, dena and blair. go to cnbc.com/investinyou.
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one last thing, nbc universal and comcast ventures are investors in acorns. 'll step away quickly, come back and do final trades, next sustainability is essential to creating a better tomorrow. that's why cisco is committed to achieving net zero emissions by 2040. and we believe our smart buildings solutions can help. providing power to reduce emissions, intelligence to eliminate waste, and collaboration tools that help the workplace and the planet. between meeting human needs and a sustainable future, there's a bridge. cisco, the bridge to possible. my retirement plan with voya keeps me moving forward. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement...
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let's do final trades. liz young, you're up first, maybe with a new word you've coined, i hear >> well, my real final trade is health care. but more importantly coining a new word on "halftime report" to combine the two most overused words of transitory and s stagflation. it's stagflationtory >> all right, steve weiss. >> yeah, volkswagen. as i said yesterday they'd probably disappoint in the quarter. they did and it would be the time to buy it now
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ford at nine times earnings will be $19 a share vw at nine times earnings next year will be up 50%. >> dr. j., a name, please, since weiss took all the time. >> merck, new high of the year. >> josh brown? >> amazon. >> there you go. thanks, weiss. "the exchange" starts now. thank you, scott hi, everybody, i'm kelly evans here's what's ahead on "the exchange." the white house announcing details of its now $1.75 trillion social spending and climate bill it's a mouthful but we'll tell you what's in it, what's not, how it's going to be paid for and whether it has enough support to pass. we're talking to ceos to get their thoughts on the economy. we'll hear from the head of huntington bank and wyndham hotels. and it's a huge day for our earnings exchange. we

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