coronavirus related slowdown and in politics, we're still waiting for results from iowa as is president looks set to clear an impeachment conviction with a state of the union on deck jonathan is back, welcome, sir so you raised your price target on the s&p a few weeks ago are you still feeling as optimistic >> so philadelphia, timing, the timing wasn't beautiful because i think we got it right at the top, but we're seeing that earnings are coming in much, much better than people anticipate ed and we were expecting a bounce in the vix up towards 52 over the next few months and i can tell you u why, but we've gotten the first installment of that. and i think that that's also kind of inserted confidence in the u.s. economy obviously, news has been sloppy, but we're lisz than 1% away. >> we're at 1.7% on the s&p with 58 minutes left of the session shares of tesla rocketing to yet another buy today. surpassing $900 for the first time just one day after first topping $700 for the first time. tesla has now more than doubled so far this year earlier, ron baron weighed in on the sharp move higher and where it could be headed >> this year, tesla is going to do somewhere around $32 billion in revenues. i guess if they're going to do 100 in four years and i think they have potential for a trillion dollars within ten years, so basically, you're looking at the very start of what's going to happen with tesla. this could be one of the largest companies in the world >> phil is look iing at the company supplied robert frank is covering elon musk's soaring wealth. joining us to break it down is michael grainhoff. let's get things off with phil lebeau >> and let's show that chart again in terms of where tesla shares are up $160? $160 in one day. look at the volume 43 million shares beinged. that's compared to the average daily volume of about 18 million. so there are a lot of people piling into this stock now. three suppliers you may not have heard of that are crucial to tesla growth u and getting the benefit of people saying hey, i want to play this. let's start with catl. a chinese electric vehicle battery maker. it has just signed a deal with tesla to supply vehicle batteries to tesla in china. two other companies, also chinese, are lithium extraction companies. that's the key to the electric vehicle battery. one being ganfeng. and then finally, we're also going to talk about tianqi lithium corp also out of china. a lithium u extraction company so when people say i want to do a proxy portfolio for tesla, it's really, really tough because of a number of issues. there are a lot of private small companies, but these are three if you're looking to ride the wave in terms of elect rib vehicles, this is the route to go >> has there been any reanchor from the company itself? >> i actually talked to somebody at tesla today they have no reaction. i think like everybody, they're watching this. elon musk, if you were to sit him down and he's been quiet lately, i think he would say sure, people are finally realizing the vision we've set out and the fact that we are a company that not just for the near term he believes they are positioned, but he believes l g longer term tesla is positioned. not only in terms electric vehicle, but also in terms of batteries, energy storage, solar roofs. that's the game plan he's put out there. i'm sure if we were to talk to him, he'd say that's the future and i think people are waking up to it. >> did the person you speak to not have any stock options >> no, but i know more than a few people who bought tesla shares say at like 60 or $65 and it was, money this is fantastic. i'm going to cash out mow befno before the sky falls and i'm goimg to lose it i vnlt had a chance to talk to them yet but i would love to say how do you feel now? selling out 250 or 300 >> just watch the twitter feed of mr. musk which he populated often. his wealth has exploded higher this year. robert frank has been digging into the numbers there >> it was just some incredible numbers over the past 24 hours musk gaining $4.5 billion richer over the past day. he's added 17 billion to his wealth in the past month half a billion dollars a day or $20 million an hour so far 2020. he's gained more this year than any other billionaire in the world with a total net worth of 45 billion, still only the 20th richest man in the world for him to pass jeff bezos as the world's richest person, tesla shares would have to hit 3,66 $5. now in order for him to get this big bonus, that would be more than $50 billion he would have to hit more than that share price plus meet a lot of other targets but by then, he would by my calculation but worth $175 billion if he hits that compensation bonus and be the richest man ever not beyond imagining after today's move guys, back to you. >> that compensation bonus is an added massive kicker as you say. when you u break it down per hour or per day, it really puts the rest of us in perspective. congrats to him. thank you. >> your life not making 20 million an hour? >> nowr to mike who deserves $20 million an hour. >> so many factors and forces driving this tesla move obviously. yes k the results have been better and guidance was an side surprise, but the it's the flip side of the decline in frnlg this was at a time when tesla was around 45 million. this has coincided with a little more of a steep decline in exxon. i was kind of cutely pointing out the arakkoa ipo happened there. clearly most of the enthusiasm for alternative energy sources now is running through this one stock. what i'm most focused on is from the prior cob, it was about 25 and went up to 88. 25 to 88 that's a split adjusted numb eet tesla. it's had a smaller total move. only up 327%, but here, it was about 250 up to 945. so that final push, the near vertical, that's the thing that really does distinguish what's going on with tesla right now u from other big popular tech stocks we've talkeded about the volume in term of the trade yesterday today and last week. does u that suggest this is all types of investors that have to be involved or could that level be accounted for by just retail investors? >> it's everybody. i don't think retail itself could get up to those volumes but there's something a little bit deceptive about the total volume that is go on now for example, the dollar volume in tesla is enormous over $30 billion again today when you have a lot of retail flow, the machines feast on it there's a lot of ping-ponging, but i think it's everybody also performance driven professional managers that need the outperform an index and try to grab at something and by the way, this is also a generation of professional investors that will that can look back at the 20 something years of amazon and say it never looked cheap, never gave me a chance to get in on an evaluation basis until it was too late and too huge i don't want the to say tesla's headed that way, but that's the mind set that seems to be in command right now. >> thank you very much anatomy of the par bolick move in tesla stock i know you can't speak individual stocks, but do you sense any kind of dot com era man mania? >> i was lookinging at this on my screens before antd there's a natural tendency to look at the stock price and see something shooting up. but the real question is where is the unit sales going to be? if they're delivering massive revenue growth, the expectation is what's the pe on 2021 numbers and how big can this get in term of the underhighing economics? not sure if moving the stock like this, but if this is going to be a long-term win, it's because they're going to deliver on this promise and i think that that chart that's comparing exxon mobil and they've kind of the underwhelming performance of the energy sector as opposed to the move towards electric vehicles is just a really great story. it's been in a whole different place than the rest of the market as our whole relationship with oil is changing >> bp, one of the few bright spots today. >> up 4.5% >> our next guest is an early advocate for vehicles. yesterday, he called tesla's run absurdity. said the stock had hit a top but another 21% today. for more, let's bring in michael, managing partner at mobility tell us what about you do and how tesla fits into that picture. >> we're a venture capital fund based in tel aviv but investing globally but in -- we're see in the future isn't necessarily about individually owned cars taz last hundred years have been people are moving to cities. living more densely. weav we're in the age of dinlg cal mobility that's become very popular so there's so many other ways to do this other than having the burdens of owning a car and to take nothing away from tesla, but i think they are kind of leading what is going to be a shrinking market in that sense >> but i presume based on what i've read about your fund, that you believe electric vehicles within the vehicle space are the future and with it, a company that has some capable ility in d sharing, though the latter two parts yet to be proven >> that's without a doubt and ik if it hadn't been for the fracking revolution in the u.s. over the last ten years, that the move you're seeing in tesla, you would have seen ten years ago. that's what i bet on when i got involved in electric cars more than a decade ago. really today opec is meeting and they're probably going to reduce production, which is effectively taxing everybody in the world who doesn't drive an electric car. it's taking the monopoly status away from oil that what it's all about. and musk should get all the credit in the world for recognizing when i first met him in 2007, it was the case that electric cars were in fact the only way to break the honor oply of oil in transportation the only question e is b about how fast this revolution can happen a lot of us have been rolling for a time and how fast it would come and now how fast will we see it >> he gets credit for being first at this. and for growing this business. so quick ly why is tesla the only bet right now in the market's eyes >> i think the conventional wisdom on that is that tes e la, people say it's being valued not like car company, but like a technology company and there's something to that. but you have to remember also that they're not making software so the question is how can they be valued like a google or a microsoft? that sense and tesla also is as you said, going to face competition from other electric vehicle makers from the legacy automotive world and it's open question as to how they'll fare in that competition. >> who wins the ride sharing battle long-term one of the existing ride sharing players or whoever has the best autonomous driving technology or the best ev driving technology i think it's going to require all of the above the future is going to be about electric autonomous sharing and connected vehicles, but different types. here in tel aviv, i came to the studio on a kick scooter you can also pick up an electric bike for 25 cents a minute we have electric moped srs in te u.s. as we become more urban, it's not really possible for them to get around, even if the ride hailing cars, just not enough space in city streets for everybody to be in a five passenger sedan everywhere they want to go >> michael, thanks for joining us >> pleasure. >> after the break, democratic party officials expect results of last night's iowa caucuses to be released this afternoon we'll head to iowa for more on the fiasco behybrid thind the delay. and big first on cnbc. bob iger joining us after his company's earning report after the close. that's with julia boorstin here's a quick data tracker check for you. factory orders topped estimates for decembrising 1.8%. closing bell b will be right back ♪ ♪ ♪ ♪ ♪ the new rx. crafted by lexus. lease the 2020 rx 350 for $419 a month for 36 months. experience amazing at your lexus dealer. doprevagen is the number oneild 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growth in lifestyle and personal care products. one thing about ralph lauren, that's been an interesting turn around story to watch. comes to ralph lauren and implements the strategy of what they call brand elevation. in other words, charging customers more, but elevating the look and feel of the brand outer wear did well. cashmere sweaters instead of cotton raising prices on the outlet to make people think they're getting a more premium product you saw that in the margins and you're seeing it in the sales growth which was strong in north america. more than 30% growth in china, which is less than 20% of the sales. it's not a huge head wind we've seen from other retailers, but it's been growing fast >> up double digit percentage. turning now to the broader market with the dow on pace for its best day in eight months bob b is on the floor of the exchange with the movers for us. >> hello just off new highs, and the old highs for the middle of the day, but the new high list looks like the old one. microsoft, johnson & johnson, proctor and gamble, mastercard, all the new highs just two weeks ago. we've had big volume today in a lot of etfs. like ijh this is the mid cap 400. heavy vol numb been crushed the last few weeks. you can see here rallying. heavy selling in treasuries. look at some like u srst that's selling off on big volume and guy, we're 12rks 13 points way from where we are prior to the coronavirus and s&p. that would have been about january 17th, 18th or so back to you. >> thanks. the results of last night's iowa caucuses still unu known after officials reported irregularities related to an app used to track vote tallies let's get to kayla on the ground in iowa. i guess what everyone wants to know is are we going to get the results during closing bell! well at 5:00 p.m. eastern or there abouts, is when the iowa democratic party says it expects to release the majority of results from last night's caucus after that technical coding glitch prevented the transmission of the full sets of data so that the party could be tabulating that and releasing it last night the app was developed by a d.c. based company that largely develops programs for progressive platforms. the company is called shadow and just a few moments ago released an apology on twitter saying we regret the delay in the reporting of the results of last night's iowa caucuses and the uncertainty it's caused to the candidates, their campaigns and democratic caucusgoers the underlying data and collection process via via shadow's app was sound and accurate, but it says it was the company's process to transmit that that was a problem. nevada, which has a primary in a few weeks was scheduled to have an app based platform. it clarifies it won't be using the same app or vendor and have been rying to troubleshoot with its own back end so something like this doesn't happen there but as all of the candidates are now in new hampshire trying to move on from iowa, there's one sensing an opening >> yesterday, i hear something happened in iowa or didn't happen i don't know which still can't figure that out. i was on a plane, sleeping, i woke up and said what happened, the guy said nothing >> of course bloomberg's strategy centers around the march 3rd super tuesday contest. he was not in iowa or new hampshire and we'll see whether he gets the last laugh in a few weeks. guys >> thank you very much for that. we hope to hear again from you with the results before the end of the show. jonathan, do you buy into the argument that some have made that part of the bounce is because of the disarray of the democrats in iowa giving president trump's election chances a boost? >> i think so. i think there's three things first was china put in a large liquidity injection into the market and indicated if this isn't enough, they'll do whatever they need to to make sure the coronavirus doesn't create a larger economic issue number one number two, the earnings beats are coming in. they're broadly very, very strong coming in about 5 a% better than originally expected and third, the ism jumped in a big way which says that the industrial part of the economy which looked like perhaps it was teetering on a contraction is now reaccelerating and meaningly so. you add those together and it's probably a second place. >> some research notes suggested that at least one of the democratic candidates didn't come away sweeping with a win. . >> if we get the results and bernie sanders wins, whether it's by a smaller margin than a win would typically be in this type of race, does that lead the markets to sell off or not >> it's interesting. i've heard two arguments one is if you end up with a more progressive candidate, it's an easier candidate for trump to beat the other is yes, but there's some chance they end up taking the white house. so it's not what the results are going to be. a will the of confusion if you want to trade on this, how do you want to trade on it is confusing. >> coming up, shares of snap are moving higher. jpmorgan says it remains a best idea we'll talk about that call next. >> and speaking of earnings, we're awaiting reports for disney, chipoltle and many more after the close. and we'll speak in a first on cnbc interview with disney's ceo, bob iger, after those numbers hit. back in a couple of minutes. woman: my reputation was trashed online. i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. niche waiting coverage on retail markets saying health and wellness and athletic is here to stay therefore nike gets an outperform rating. a bearish note on under armour with an $18 price target there nike's budget and ability to spend tends to be a key long-term advantage. meantime, it's worried they've reached their domestic sales cross-appeali i ceiling and john donahoe sits down at an innovation event. nike will unveil new products and we'll be the first to speak to the ceo >> we look forward to that more word on the street. jpmorgan saying snap remains one of its best ideas and that relative to twitter and pint rest, it has a stronger scale and better underlying momentum and its advertising platform the firm expegting snap to report 5 million daily active user ads and the stock is up today. piper sandler upgrating elf saying their digital and social content on tiktok is defying gravity. yesterday, the man behind the viral baby nut super bowl commercial weighing in on the best social media platform for advertising reach. >> if you're trying to reach 14 to 22-year-olds, tiktok. 55 to 90, facebook >> it's all about tiktok >> are you on it >> i think i'm too old >> you have kids >> i'm not as soon as by the way we get on it, they'll get off and move to something else >> true. >> that was fascinating yesterday. check out cnbc.com to watch it we have 30 minutes exactly left of the session up by 470 points just over 500, but still a big rebound. here are the three things drive ing the action nasdaq hitting a high today on the back of another huge rally and tesla shares up 20% after 20% rally today. china injects more stimulus into its economy, easing fears of a coronavirus related showdown and in politics, we are still awaiting results from the iowa caucuses and the president looks set to clear an impeachment conviction with the state of the union on deck tonight. >> time now to get a cnbc news update with courtney reagan. >> here's what's happening at the hour the world health organization says the fast spreading and deadly coronavirus is not a pandemic, which is an epidemic of worldwide proportions >> i know that there have been some information saying that the virus widespreading is is changing and mu tating and so on but so far, we have not evidence, no evidence of that. it's quite a stable virus. >> a special election is being held in maryland's district seven to pick a person to replace representative elijah cummings who died last fall. there are eight republicans and 24 democrats running the winner of each primary will face off in another election in april. zblmpblt and wendy's says it will debut its highly anticipated breakfast menu next month. it contists of nine sandwiches breakfast is unwione of the few expanding segments for the industry back to you guys >> cool. thanks so much for that. still to come, we've got your last chance trade. >> plus, ebay shares are surging on a report of a takeover offer coming from a pretty surprising suitor we'll fill you in jelks and as we head to break, a quick check on bonds at this hour. selling bonds with yields higher along with the overall return and risk appetite for stocks and berter data. we'll be 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bond rally really upended stocks. it's in the clear to me that today was decisive x though certainly encouraging. >> thanks for that jonathan, we know you're constructive for the rest of year as fli florida. >> the ten year is up almost ten basis points today i don't think you can have equities advancing the way i expect without seeing bond yields up another ten or 15 basis points so i think interest rates are going the move in the same direction as stocks in a sign that the economy is getting some additional footing. if we end ed the year at 2% on the ten-year, stocks are higher but wins is a little different banks would be the big winner. but u the market wants higher interest rates >> we've got 23 minutes left in the session. here's where we stand. by 471 points on the dow about 1.6% s&p 1.7 leads the charge because tesla is up 2.25%. up next, your last chance trade. >> and tomorrow, an exclusive interview with nike's new ceo, john donahoe we'll talk b about what products nike is working on and an innovation event here in new york and you can always watch or listen to us live on the go on the cnbc app we'll be right back. new york state is taking business to the next level. supporting innovative companies that will shape tomorrow and building workforce development and tuition-free college programs to generate the talent companies need. with a $150 billion investment in state of the art, modern infrastructure, and a nation-leading commitment to low-cost clean energy, new york is doing more than any other state to build for the future of your business. new york state, the state of the future. learn more at esd.ny.gov. new york state, the state of the future. you should be mad that this is your daily commute. you should be mad at people who forget they're in public. and you should be mad at simple things that are unnecessarily complicated. but you're not mad, because you're trading with e*trade, which isn't complicated. their app makes trading quick and simple so you can strike when the time is right. don't get mad, get e*trade and start trading today. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. 20 minutes left to go. here's a check on the big board. major averages in rebound mode again for the second day in a row. 1.6% gain on the s&p 500 which puts it almost 1% away from a record high the nasdaq is right there up more than 2% thanks to tesla and a look at some individual movers these are the ones coming after the bell disney, ford, gilead, snap, chipoltle and match group. ford would normally be patting itself on the back >> time for last chance trade. 18.5 minutes left after the session. jonathan last chance trade time you picked out some tech >> we think that tech is going to basically be the win this year but in this earnings season, it's beating by 11% more than any other group even if you take out amazon, which had this you know unbelievable beat the it's still beating by close to 10% and the expectations are that the earnings just keep getting better throughout the course of 2020 on the margin line in particular we think that's the -- >> what's tech plus. >> when we talk b about tech you're talking about amazon and google and facebook but a lot of those aren't part of the tech sector zpl you want it to include netflix. >> you can include netflix in there exactly. >> and you're not concerned about the value wass is you think they justify that >> the story here, different than the late '90s is that this is about explosive revenues and increasing margin line and matter of fact, the last quarter or two, the margins have come in, which gives it potential upside but the valuations incrementally above the market given the level of growth. no we don't see it as a value patience problem at all. >> up u next, we'll bring you unu interrupted of coverage of the final minutes of trade what to expect from disney's results. stock up nearly 30%. bob iger joins us after the numbers hit. >> and tonight, 7:00 p.m. eastern time, a cnbc special report outbreak, coronavirus. all the facts you need to know as the dangerous virus continues to spread. back in a couple of minutes. [ fast-paced drumming ] [ fast-paced drumming ] you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice. but you're not mad because you have e*trade which isn't complicated. their tools make trading quicker and simpler so you can take on the markets with confidence. don't get mad get e*trade and start trading commission free today. mike is here to break down the crucial moments and today, we have jonathan as well stocks surging today dow's up 428 points. s&p 500 up a healthy 1.6%. nasdaq is on pace for a record close. mike, i've heard everything from china liquidity and stimulus measures to better earnings, better data and just fears of the coronavirus maybe looking a little overblown >> looks like it's not accelerating and it seems like a little bit more of an orderly somewhat predict bable process in terms of its spread and just bond yields are up i think whatever had people kind of in a little bit of a defensive crouch and kind of huddling into treasuries has reversed to a partial degree today and i think that did release stocks to go higher. we repriced up to around 3300 in the s&p then just kind of drifted sideways so i still think it's a wait and see, make sure we're not in still this sort of choppy corrective phase. >> and a big global rally today. every single stock market that i have today including china by 1.4% on shanghai onjonathan on the topic of china, we saw again today the incredible mooit ite of chinese stimulus when they want to deploy it. >> to mike's point, we're not that far above where we were premarket. you wake up in the morning, the first thing i look at is where the futures are. we knew u it was going to be a big day and once you open the pie, the market is sideways. what has moved was the treasury yield steadily rose throughout the day, which is a sign that the flight to safety was coming down and that's a very good sign and kind of a good set up as we look towards tomorrow. z >> shares of alphabet under pressure josh has more. >> josh. >> so, alphabet surprising investors with this report by giving them what they want more disclosure, revealing new metrics in q4, youtube ads they saw revenue climb to 4.7 billion. google cloud revenue grew 53% to 2.6 billion. while alphabet lift ed the cutten, its weaker than expected performance is taking center stage today. revenue did jump 17% but that wasn't good enough for investors who piled into this name that stock surged 45% since its june low back to you. >> thanks for that mike, interesting balance today. the shares being down, but quite a lot of the brokers, analysts being encouraged >> i think the way to look at the stock moving today is it's giving back some of the prior day's gains. still up 1% for the week so it shows you people did get overexcited. i think the street likes the greater disclosure, the ability to model this better that being said, the details of what was disclosed, whether it's youtube run rate, didn't necessarily dazzle anybody beyond where people had estimated. >> by the way, technology takes the top spot for the best performing sector year to date again. last week, it was utilities and we sort of wondered, jonathan, are we in the utilities leading market or a tech leading market. i know you like tech >> yeah, in order for utilities to be leading the market, it's telling you there's something that's broken here and so unless the coronavirus becomes a bigger issue and interest rates are falling or something like that, i think that -- >> do you like any of the defensive sectors? >> you know, right now, we're basically underweight the whole suite of defensive sectors. you know, within tech or that tech suite, we like the communications group a little bit less than we would like hardware and semis and software. so they're not all the same. but also driving ewe tutilitiesn interest rates b ooefb now, still down from where we were at the start of the year on rates >> health care providers are up two and quarter. the hmos, insurers it's a boost on the political front that nobody has left iowa with any momentum so there was a little prehedging about the possibility. >> we still don't know >> of the sanders mandate so to speak. elon musk dancing all the way to the bank shares of tesla are up 130%. so far this year $980 for the first time ever today. phil lebeau has more on what is drive i driving this stock higher, phil. >> people want the stock that's the bottom line and i know that seems obvious. will we get to $1,000? that would have seemed an absurd question a few days ago, a month ago. now look at it just under $950 a share. huge volume today. it's possible we could see $1,000 a share maybe not today, but tomorrow the way this stock is move iing. ford reporting q4 earnings after the bell what are investors and analysts looking for? progress on the turn around. we've been talking about that for more than a year are they making money off of mobi mobility what's the expectation for 2020? i'm showing you a chart of ford going back to when jim hackett was named is ceo earnings come out after the bell and we'll see what they have to say about the outlook for the rest of 2020 >> oohow does the valuation loo? >> revenues, it's not crazy. because contessa has you know u, going to be 30 billion in revenue this year. so six times, five times that's not crazy just barely profitable hasn't been on a full year basis and you just don't know how much you could extrapolate that sales growth plus it's really capital intensive. it doesn't have software economicses at this so i don't know you can make the case now if umt to make the case it's get ing there, fine. nothing explains these gaps on a daily basis and $50 billion in tesla shares turning over today. which is just off the charts >> which is crazier to buy it at this level or short it at this level? >> i mean it might be equally crazy just because of these huge kind of function moves it's making but it does seem as if you have to have many mechanical explanations for why it's moving this way beyond just well everyone now buys into the long-term story. didn't happen in five days >> that was a dlefrry worded section. >> i knew he wasn't going to >> he danced around it beautifully. shares of ebay surging after the new york stock exchange's parent company approached ebay about takeover and telling cnbc they don't comment on rumors or speculation related to m and a this is fascinating sort of floated idea as to what on earth exchanges would want from ebay tyler mathisen said perhaps is to get into brokering stocks directly to a retail marketplace. the only thing i'd add to that as you say suggestion by the -- is the whole direct listen thing. if you look at the company in those terms, a transaction processing in data network looks similar to an ebay on some back end level. i think that might be the action >> why ebay sells used goods. >> but they don't make them and send them. they are just the network. if you look at the way stocks of data and transaction platforms trade, market loves those things now. the exchanges. the visas. all those things >> but mike is that the way that investo investors. >> they're buying a stock with a depressed valuation. they've said we don't know really what the strategy is. >> we've got four minutes left a tad up 400 points now. after the bell, we'll get earnings from disney hi, julia. >> investors are -- analysts project between 20 million and 25 million subscribers and we'll see how that has boosted editions and how the core tv assets are faring. part of those higher costs are disney's investment in that direct to consumer business. guys, back to you. >> thank you and coming up, we look forward to your interview with bob iger as soon as those numbers hit >> let's quickly check in. tesla, we should of course still applaud 13% increase, but quite a sharp pullback as you can see there in just the last minute or two, meaning it's only up 13% now. interesting the stock pullback there on the chart there >> absolutely. you don't know what degree, there's a lot of kind of people trapped in here. a lot of echo effects of options positions going on here. ooic this is a stock that's been acting e radically to the upside for days now >> i like how you phrased it in your note. retail investor mania combined with tech bro future snap will also report after the close. kate rooney has the key metrics to watch >> investors want to know whether snap can keep up user growth while ramping up ad sales. daily active user is one they're for how well they're monotizing that. snap is focusing on younger users. shares are up more than 170 since last february and in the face of facebook, competition with instagram and tiktok as well back to you. nasdaq hitting a fresh high. over to kate for more. >> nasdaq higher for the fifth day. today's gains wiping out all of last week's losses tech names really leading a lot f the movement here today. apple, tes ha, microsoft, am son and facebook all having the biggest positive point impact on the nasdaq 100 tesla and ebay are the biggest gainers. the russ 2000 small caps back above in today's rally and moving on, i'm looking ahead to chipoltle set to report after the bell looking at same store sales projected to increase just under 10% for the fourth quarter as well as the digital growth number will be b key for everyone going to send it over to you, bob. >> and big volume today in a lot of names rebounding. medal stocks, free port down 15, 20%. bouncing in the last two days. maybe 10%. a number of new highs. new high for mastercard. we hit 500 in the dow, going to close up a little more than 400 points s&p 500, just shy of 3300. and with the record close for the nasdaq, welcome to closing bell take a look at how we finished up the rally day on wall street. we'll start with the nasdaq composite closing at a record high thanks in part to tesla, which has just been a monster in terms of outperformance adding another where did it settle? almost 13% or so but we saw a pretty broad-based rally overall. the dow closing up 408 points. most sectors within the s&p rose everyone except for utilities today. technology the best per fomer up the.6% >> tesla closing below $900. elon musk losing a foreitune in the last 20 minutes. >> the million per hour. >> still a fantastic day for tesla. up 14%, but u it was up more than 20% we are minutes away from earnings from disney, snap, chipoltle and gilead bob iger will join us exclusively after his company's numbers hit. joining us to talk about the market, michael, ceo of destination wealth management and still with us, john of credit swiss mike, a strong bounceback today. lots of factors today, but holding on to big gains with encouraging. >> yes, stability in china a little bit of a rue u.s. on the industrial side even though people maybe aren't going to want to infer much in terms of the rrenpr overworried about the democratic and the viral outbreak we bounced higher. i'm not willing to say this is some kind of an all clear from this little shakeout mode we've been in for a while here because it seemed a little jumpy in there. the volatility index did not receive that much. it's in the positive, but day by day. >> we're expecting something like 2% for the quarter, but we have more beats to go in the back third so we think it will come in better than that but the more important thing is the median, typical company and the benchmark is up 6.5% in terms of their earnings growth so if you have a portfolio with 50 stocks, you're seeing something that's much better than the overall index and that feels good for investors >> mike what's your take on the pace of which the market has recovered following the coronavirus related declines of last week? >> i think it was an overreaction first of all for the market to go down as it diz. in the united states, i think there's a supply chain cushion that i don't think is going to have as much impact as people think. even though the headlines are b horrible, i think this is going to be contained to asia and for that reason, i think it was an overreaction to sell off we menged those gilead numbers let's get to meg >> a mixed quarter for gilead on the bottom line comeing in as a miss a dollar 30 ingested earnings per share versus a dollar 67 revenue was beat an $5.88 billion for the fourth quarter versus estimates of $5.71 billion. now gilead sells drugs for hiv and hepatitis c in that big hiv franchise, looks like a beat versus analysts estimates at $4.6 billion for those drugs, however their hepatitis franchise look iing light and their stock is down 1.6% back to you. >> thank you the stock has been all over the place. >> it's looked cheap been a value trap. yea yeah. >> some of the big tech names we've heard from like google, do you think they've done enough to justify their levels earnings have to be taken in context. when you have earnings growth, it translates to positive news for the stock and you're still looking at ten year treasuries below 2% so everything has to be look ed at in context of inflation and i think earnings have come in just fine so far. i'd expect them to be on average a bit net positive for the year. for the quarter. i think that's going to be a positive for the stock market. >> jonathan, how do you view health care and bio tech as it relates to your positive story on the market? >> if you look just on the earnings, health care is the most attractive thing in the market and if you look at the valuations on them and how depressed they are, if you didn't have a political overhang, it would be amy numbe one choice they're defensive, don't need the economy. is what's going on in iowa a reprieve on health care? it's doing quite well today. really hard to read it >> but you think stay away on the overhang i do because it's hard to have an outlook the growth story and earnings are very surprisingly strong >> ford earnings are out phil lebeau with the results >> the reason ford shares are under, down more than 5% is the company missing on q4 earnings, earning 12 cents a share three cents shy. revenue roughly in line, maybe a smidge bett look they made most of their money in north america $700 million china, a loss of $207 million in the fourth quarter but here's the reason the stock is under pressure. the guidance for next year below expectations they're expegted to make a buck 20 in 2020 it's for them to earn a buck 26. we'll see what jim hackett has to say >> a big decline after 7%. disney numbers are out as well julia's got those for us >> disney beating expectations reporting adjusted earnings of $1.53 a share. that's a 9% beat revenues coming in at 25.8 billion. that's a hair stronger than the 27 billion anticipated but the real factor driving shares up now nearly 3%, disney plus numbers. disney plus subscribers, 26.5 million. that's better than the range of 20 million to 25 million that analysts had been anticipating so stronger growth in that just first month and a half since disney plus's launch also, espn plus benefitting from the bundling with disney plus. 6. million espn plus subscribers. the last number disney reporteded was 3.5 million back on november 7th. so significant growth there, but also reporting that hulu has a total of 30.4 million subscribers. 27.2 million of them are streaming dod only and just going through the different divisions quickly here, studio entertainment growing by more than 100%. the direct to consumer international revenue also gr growing almost four times, so significant growth u in those two divisions in terms of revenue then in terms of o operating income as wem m really a huge quarter for disney in terms of the box office strength with films such as froenzzen 2 coming out we have bob iger here, but guys, first to you >> thanks so much for that any moment now for that interview. mike, quick comment first of all on this share price reaction a nice beat on the bottom line bett better. >> i think maybe 25 million was what the street was looking for. it really is earnings growth story for this fiscal year that's not the plan. so it does seem as if that's the -- >> moves on subs like netflix. >> for now yeah >> because the rest of the business still performs fine it's not as if it's all or nothing. >> thank you for being with us we'll send it back now to julia with disney's ceo, bob iger, for an exclusive interview >> thanks so much. bob, thank you toso much for talking to us today ahead of your earnings call better than expegted results, especially on the bottom line. what drove that upside surprise? >> we had a great quarter. parks and resorts particularly led by our dmoes domestic parks. very strong. studio added two more billion dollar movies to cap off a record year, year for the ages. >> so you had said your goal is to have between 60 million and 90 million subscribers by 2024 how do these better than expected numbers impact that guidance >> well, it's obviously a very good start but we're not updating our guidance today we will say something on the call about subs between the end of the quarter, the end of december and where we are as of yesterday. but we're not updating our guidances. we're only at it for a quarter >> you have added meaningful subscribers just since the start of the year. >> yes >> so how many of these subscribers are getting the service free through verizon >> well, actually, the rpo which is in our release is pretty significant and that's a blend obviously of people who have sign ed up for a discount that's a 12 month discount people who have gotten it through third parties like verizon of course direct by the way, 50% of our subscribers came direct from our own website. a lot had to do with the fact they signed up early before it was available through other services verizon, about 20% came through that agreement that distribution agreement which has been great for us then the rest came from apple and roku and all the other services that are distributing the app. >> so your flag ship show, which has been entirely released, drew a lot of attention, but dyou se turn after the show was over and do you expect to have to invest a lot more in original content to help draw even more people to the platform >> we were actually heartened by the fact that after the original episodes were all made available, we really didn't see significant churn from that. as i said earlier, we continue to see subscriber growth from the end of the year. december 28th. through yesterday and we'll say more about that. one of the things that we've note noted that's quite interesting is about 65% of the people that actually watch it watch at least ten or more other things on the service. and so what we're seeing in term of consumption is really across t board for films. not only from our library, but recently released include iing aladen also other programs movies and series great interest in disney channel shows and a lot of other things. gives us the we've got a the growth so that will continue the growth in in original content but this will be never what i call a pure volume play. it will be about high quality. >> can you give us an idea about how much you're going to spend on original content? >> we're not updating guidance >> i want to ask you about hulu. you brought really hulu under the umbrella of your direct to consumer business. the ceo just announced that he was leaving. as you integrate hulu more, how much are you planning to change the service and do you see the need to introduce an ad version to compete with peacock? >> we had an opportunity to integrate it further into sour organization and to take advantage of the efficiencies that would come with that. so randy was a great with the other services and anticipating ad supported without ads and they're both doing quite well and they have hulu live and the channel business what we see in huluu which we've started is adding more content from our content enswrigines ate company. so we announced that the earnings call, taking fx and putting that on hulu that comes in march and we'll not only be investing more in fx branded con tetent but also usi the library and other programs for hulu and we think there are other opportunities in terms of content creation and cure ration so that it becomes a more unique and even higher quality content destination. sq>> there are so many new services launching in the next several months qui bbe, then peacock from cnbcs parent comcast and then hbo max rolling out within the next couple of months do you see those services posing a competitive threat of your services >> i think it's a sign of the times. these companies that are launching all recognize what we recognized some years back and that's the multichannel ecosystem is being disrupted and people are turning to more direct to consumer more over the top services, more program driven than anything else which is why we've done what we've done i think as we view it, more competition, you used the word threat i wouldn't say we're threatened by it. we feel with disney plus in particular, we have an extremely unique product because of those brands espn plus is clearly differentiated and hulu because it has some brand equity and is off to a good start and we're going to invest more in higher quality product for hulu, we think we're extremely well positioned and i think this is very important that bundle of hulu and espn and disney plus is not only a great value to consumers, but it's one of factors that has enabled us to see churn rates that are better than expegted >> very interesting i want i want sh shift gears to coronavirus. your parks shanghai and hong kong parks have been closed for a week it's something you're dealing with right now how much of a financial impact do you see this having on your parks business >> it's hard to say because the parks are shut down and right now, we don't know for how long and so without knowing, t difficult to tell. in shanghai, the business has been really strong and it's a shame we had to shut down. thousand of people who work for them and we have concerns for people of the world and china. we'll talk about it more in terms of specifics, but it's hard to be very specific without knowing how long this could last >> and it's not just your theme park business in china you have a huge movie business in china avengers end game grossed over $600 million in china last year and now all the movie theatres effectively are shut u down. what kind of impact do you think this could have on the movie business >> all the movie companies expegting to distribute movies coming up in china are obviously impacted by this and again, it's hard to tell it will eventually get into china. not sure when. the big issue on everybody's mind is what's going on with this virus and how far will it go in terms of its impact on people >> do you think it's going to impact either people's desire to go to a dheem park or to a movie theatre in places in the rest of the world and here in the u.s. >> so far, we haven't seen that. not seeing a change in terms of advanced bookings or travel to the yit. some is impacted from that part of the world, but that's small in terms of visitation to the united states. >> do you think there's risk -- >> it depends on how far this crisis goes and how long it lasts. it's difficult >> i know we don't have much time because you have to get back to your call but i want to ask you a couple of quick questions about other topics you just acquired the rights to hamilton what was behybrind this 75 million the most ever paid why did you make that decision and how will it pay off? >> first of all, hamilton was an unbelieve bable creative success and cultural phenomenon and something that resonated with people old and young from all over the world really when you think at it. all the people who have gone to see it we were extraordinarily impressed with the stage presentation and when we got a chance to special work of art. something you wouldn't think which would be possible to capture all that on stage in film when we saw it, we felt it was something we really wanted to have both as a theatrically release ed film and something that will be on disney plus soon after >> just a final question a different kind of politics we're waiting the outcome of the iowa caucuses. you yourself had at one time considered a presidential run. are you endorsing any candidates -- >> i'm not >> or concerned? bernie sanders has attacked disney in the past are you concerned about any of these candidates getting the new mexico nomination. >> i'd really rather not comment on any candidate or the election itself like you and i'm sure many others in the united states, it would be nice to know the results of the iowa caucuses i joked a little bit, if we were count iing, we probably would hv had the results. never mind i'm not making any other comments >> weal lback to you. >> thanks so much for that our thanks also to bob iger, who said just there mike, 26.5 million as of december 28 in terms of disney plus subscribers, but u it's continued growing since then which i thought was interesting. one has to guess the speed of growth, but still impressive >> as disney slips here. >> just a little bit they did give average revenue. that's with a lot of discounts said on the call about the parks business particularly in hong kong and china it was a hugely to come on the call now snap earnings, significantly. kate has the numbers >> after missing on revenue. snap's top line cain short that was 2 million below came in two cents and one milestone, this was its first profitable quarter on an adjustable basis since snap went public about three years ago on to daily active users, a key metric that was above expectations. snap chat now has 218 million users. 3 million above what wall street was looking for. >> thanks so much for that and 12.5%. not immediately obvious why it's down quite so much daily active users slightly ahead. only fractionally behind >> the it was a revenue miss i think you had a lot of analysts coming out ahead of this and getting briter on tghte prospect >> by 2 million. >> this is a stock that's up -- >> up 170 in the last 12 months. you have to see some top line momentum >> another earnings mover right now. chipoltle, kate rogers with those numbers. >> looking like a strong q4 for chipoltle. coming in at $2.86 that's a beat over estimates of 2.75 revenues also a beat at $1.44 billion for the quarter. same store sales really big number here. up 13.4% in the fourth quarter. that compares to analysts estimates up 9.5%. digital sales, another really important metric for the company grew 78.3% accounting for 19.6% of sales for the quarter. for the full year, digital sales grew over 90%. accounting for 18% of sales. the company also said it opened 80 new restaurants and 46 chipoltle lanes those are the order ahead and pick it up in the drive through restaurants they are opening up across the country and just some quins here f2020 the company anticipating opening up 150 to 165 new restaurants. more than half will have a chipoltlelane. that is right in line. the stock is higher by half a percent. was up above $980 for a moment there and now around $890 guys, back to you. >> big beat on comps thank you. and chipoltle's ceo will be b joining jim cramer tonight on mad money, 6:00 p.m. eastern time >> coming much more on all of those earnings movers. also news on a pair of retailers. ckn sonds flexshares may look simple on the outside. but inside every etf... there are untold hours of careful construction... infinite "what ifs?" and contingency plans. creating funds that help target gaps in client portfolios. tap untapped potential. and strengthen confidence in you. flexshares. powered by over a century of 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right now, they have both headquarters in cincinnati and in new york. it will just be new york going forward. this will be about $480 million in restrurkturing charges, it will save about 1.5 billion annually by the end of 2020. 600 million in savings at the current fiscal year. it is however not giving up on brick and mortar all together. they're looking to add new concept ideas. one is 15,000 square foot store. looking to add about four or five of those in the coming months here. seven backstage locations, the clearance area the off price area of macy's they're going to do that free standing they are looking for about they've had about $1.6 billion in proceeds from real estate over the last four years so this is part of this current valuation of the real estate to see what makes the most sense for investors. they're also updating their guidance for the fourth quarter. they now expect their same store sales to be down about 0.4%, that does beat the previous forecast they had given us they're also looking for the full year earnings to now come in at the high-end of the previous forecast. which was at $2.57 to $2.77. again, macy's will be going through all of this in deeper detail with the investment community tomorrow morning starting at 8:00 a.m. at the new york stock e currently down about 2%. then if i can shift, we have also news on best buy. you may remember in about mid january or so, there was a report out that best buy's board had been investigating the ceo for allegations of personal misconduct best buy says that the board and a outside law firm have investigated these firms that came via an anonymous letter and corey berry has been cleared she will continue to be ceo of best buy that investigation is over according to best buy and it's board of drirectors based on it findings shares of best buy in the extended hours don't appear to be moving much on this news. a lot to digest. >> tid did the story leak? why did it get out u there >> there was an anonymous letter sent to the board of drirectors at best buy and that was then released that the board had receive third-degree letter and vumt, they were going forward and going ahead with this investigation and they had retained this outside law firm and so that's how we knew about it and this was just about two and a half weeks ago by my quick math in my head. >> thanks very much for that best buy up about .4%. macy's down a couple of percent. indeed >> they were already really focused on new york o. harold square, but for bragging rights in cincinnati i know it's the end of an era very sad and also job losses the stock down 36% in 12 months. if you were hoping for good new us and any sign of a turn around, doesn't look clik you're going to get that. >> the one thing we didn't hear is the dividend is not cut they feel like they can cover it >> 2,000 layoffs 250 department store layoffs news on twitter and department of justice elon >> twitter is announcing new policies targeting manipulated media. it will start labeling synthetic content and ban and remove the tweets if they are likely to cause serious harms, tweets that target physical safety, mass violence or civil unrest but also encompasses voter suppression. they'll apply to elected officials as well. they're focused more on the content being shared rather than who's sharing. twitter emphasized these are not blanket rules and much of the contest will be evaluated on a case by case basis they said it's not about deep fakes. any media that's been altered or fabricated could get flagged for reviewed under these new policies and the changes will take effect on marnl 5th back to you. >> thank you very much for that. now shares of snap plumeting more than 12% after reporting lower than expected revenue. joining us now to break those down, john freeman john, thanks for joining us. are you surprised by the size of the move in shares >> you know, i am. i have a sell rating on snap, but i thought the revenues were decent i thought one of the stats that was good was daily active users. they were up 17% which was a big acceleration in user growth in daily active user growth and there were a couple of other metrics which i thought were encouraging with regard to user engagement and some of the video content so i mean i guess my expectations were lower but i thoug thought. >> because of the consistentsy of results extraordinary claims require extraordinary evidence and if you have a couple of years of just you know at one point, not that long ago, they had negative gross margins reported a couple of quarters. i mean they are still burning cash they haven't really shown a lot of operating leverage. it should be inherent in a business like that so those were my concerns. and you know, at least with this report, you know u, you know, it looked pretty good to me relative to the expectations i had. >> what are you going to be listening out for on the call? what do you make of management as things stand, the job they've done to turn things around >> you know, i got to say, so far so good. one of the other issues was a management turnover. but what i'm going to be li listening for is system some of the, i want to hear more about their video content and metrics and the engagement and the data they can get from that and so they can turn around and help advertisers better target their user base not intrusively and that's what i want to see. more meat on the bones with regard to montization and the advertising side what the advertiser sees when they open up their app and want to place ads >> thanks so much. >> thank you we have got an earnings alert on match group frank holland with those numbers. frank. >> shares of match b about 9.5% after hours. the online dating company missed on revenues. the street apparently responding to the average revenue per user number those fell one cents below estimates. it's tinder app reported 39% growth and average subscriber growth of 36%. overall it grew by 20% and gave an update on the spin off. shares of iac also falling after hours. again, shares of match down around 9.5%. back over to you >> thanks so much for that still to come here on closing bell, ford falling sharply after a profit miss. find out if you should buy the stock on the dip that's coming up >> and don't miss an exclusive interslview wh e w keitthneni co john donahoe tomorrow on closing bell, 4 p.m. eastern. it's time for an update with sue. >> here's what's happening u.s. visa restrictions were at the top of the agenda between secretary of state mike pompeo and his nigerian counterpart at the state department this after the nigerian foreign minister said his country was blind sided by the trump visa announcement >> president trump announced the suspension of immigrant visas for nigerians because it has room to grow in sharing important national security information. i'm optimistic that's going the happen in the patriotroclamatioproclame highlighted their support as a strategic partner this the global fight against terrorism a federal judge approve d a settlement that moves pacific gas and electric closer to getting out of brufsy, but they still must navigate obstacles inclauding staunch opposition from california governor and for the first time since 1971, the fda met to discuss how talcum powders in cosmetics are tested for asbestos this following reports that the known cory sin general was found in those projects. that's the news update this hour back to you. >> thank you keeping our eye on ford share, they're down more than 9% for more, let's bring in david from morning star joining us by phone. ford shares down almost 10%. looks like a miss on earnings, north america, operating profit. do what's happening here at ford? >> yeah. unfortunately, it's a continued transition to get the company fit and they had a lot of costs this quarter in particular, it's a really nice story going on at lincoln, but the guidance for 2020 was underwhelming. that's why the stock is down so much after hours >> what could you hear that could reencourage you? >> something b about cash flow coming really soon we keep waiting for that >> in terms of lincoln, why were you optimist k and why not anymore? >> well, i am still optimistic i really like the product coming out of there the interiors are just beautiful. i encourage people to go check one out at an auto show if you think americans can't make good cars residual values onling lincoln e better than all the german three brands >> what about the redesigned explorer you know the new escape suv. super duty pick up weren't these supposed to be new and exciting catalysts >> what happened in '19 is they had some rollouts on things like explorer and their slide deck here from the super duty and the escape they say they've made changes. i'd like to hear what they are >> david, thank you. >> sure. >> still to comewel , 'lget reaction to disney's numbers from a long time shareholder back in a couple of 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wireless reimagined. simple. easy. awesome. mike >> we just heard disney report better than expected sign ups. you see the dynamic between netflix and disney in terms of their respective market values remember back i guess it was 2018 when netflix briefly cap. that big step function we got. this is when they announced disney plus streaming plans, but also of course don't forget the company bought the fox assets that were worth something like i guess $40 billion so that helps in the market. but to me one of the interesting things is how point to point, five year, they're both going up so the market isn't saying they're trading off into zero sum fashion. arguably, these are the two leaders that have quasi streaming bundles with their array of services here >> thank you for that. now earlier this year, bob iger sat down with julia boorstin here's what he had to say about the coronavirus an impact on travel to disney parks >> we're not seeing any change in terms of our advanced bookings or travel to the united states obviously some is impacted from that part of the world, but that's relatively small in terms of o visitation to the united states i don't want the say never or that it couldn't happen, but right now, we're not seeing it >> iger did say coronavirus remains a big concern for shanghai disney land which remains closed let's bring in jim stewart from the "new york times" and larry halverty from ljh investment advisers thanks for joining us. i want to kick off with the disney plus subscriber numbers better than the market expected. 26.5 million plus i think we're hearing about 1.5 since the end of the quarter how impressed are you by those numbers? >> i'm very impressed by those in your opini numbers. everybody got excited when they said we were going to get ten million and now they've doubled that they're roughly 38 million households in the u.s. with children 18 and under. they've gotten already a very impressive chunk of those and extremely short period of time so i think their excuse on this has been phenomenal. after a few minor glitches in the beginning, the people are apparently very happy with the performance of the thing, so i'm very impressed by that, i'm surprised that the market has been as tepid in its reaction, but i do think some people, i'm hearing from people that are looking at the matthewihematicsd it is sobering they're getting under $6 a subscriber and their rivals, netflix, amazon, they're spending billions on original programming. you take $6 a month times 22, 3 23, 25 million, you're not getting all that much revenue. and i think the question is going to be when is this going to make money. maybe barring the future and is it going to make up for the e erosion in the traditional cable revenue streams. >> larry, what do you think? >> i think it's more or less game set and match here this disney plus is a brilliant investment strategy. you have to look at the world. this is a global company and i frankly don't know how high up is the company has a history of once it's in the market, raising prices so i think to some extent, you've got an introductory special. but what you're dealing with here is a company and it's not appreciated by the market. it has a mind bogglingly low cost of debt so disney's financing disney plus at probably somewhere by my calculation around 2% after tax and if you look at that as their financial burden, the thing over time is going to be a grand slam home run and remember what this is in great simplicity is that it just gives disney the chance again to sell the library and they've just expand ed library by pickin up the fox library so i think the it's a brilliant strategy executed brilliantly financially and the latter clearly underestimate ed by the market. now it's going to affect earnings near term and the virus is going to affect earnings near term next three months could be cloudy, but company has enormous fire power to buy stock. they've always bought stock probably around ten times running rate ebitda. maybe there's 10% risk before the company takes massive share repuchls so if you're skeptical about this thipg, you might have fun for the next hour or two, month or two, but not over a period of one, two, three or four years because this is just a stop where based on the brand quality and financial quality, the management you have to own it >> jim, quickly, what do you make of the hamilton deal? >> i think it's terrific it shows disney has been very, very shrewd about what intellectual property to get control of and i think it's the perfect match for them it's american history. it's diverse it's you know, it's everything that disney wants to be associated with so i think it's very, very positive for the brand. i think we know, there's big questions of an big questions have been answered that disney is one of the major players in the streaming space. and we couldn't have taken that for grant add year ago disney deserves a lot of credit for making a historic transition. >> we were talking about espn losses thank you, jim and larry for joining us on disneyland. >> thanks. >> just want to point out shares of nike. nike gifs giving guidance around the coronavirus and operations they say it will have impact on the greater china in the short term nike says half of the nike owned stores in china are closed and others are reduced hours at experiencing lower than planned retail traffic that is having an impact although shares are off the session lows down 3% on the initial news. i think nike was considered one of the companies like an apple that operates in china that has a supply a chain in china. but nike pointing to the consumer reaction that in the short-term has material impact china has been a huge source of strength for nike. growing double digits in revenues every quarter we talk to the new nike ceo tomorrow. >> coming up, the movers after hours. we'll be back in a couple of months you should be mad your neighbor always wants to 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>> and ford miss after disappointing earnings guidance. >> a lot to unpack disney up 1.5, 1.6% initially. of course the earnings scores have begun encouraging otherwise. >> disney's numbers are fine story's intact pl all good we don't know the impact of china. for the current quarter it's a wider range of expectations about theme parks and maybe studio at this point i don't think those numbers will necessarily swing the market around tomorrow. but the snap drop is pretty disappointing given you had a lot of people bulled up about the story the past couple months. >> guys, breaking news on the iowa caucuses. lets go to kayla in iowa kayla. >> we are getting the partial results momentarily, sara, the media filing center at the des moines event center is getting set for announcement from the iowa democratic party. unclear which member of the party is making the announcement, whether a chair or a lower level staffer. but one thing is for certain, the party does not want to claim a win here there was an attempt just a few moments ago to do this as a gaggle, lower key announcement with select media, not a stage with a podium. but clearly after a lot of backlash from media that has changed. and you can see this announcement is about to begin momentarily. lets listen in >> thank you all so much for taking a little time today to chat a little bit about what happened last night. the reporting of the results and circumstances surrounding the 2020 democratic party caucuses were unacceptable. as chair of the party, i apologize deeply for this. last night we were faced with multiple reporting challenges and decided a abundance caution to protect the integrity of the iowa caucuses. and their results. by taking the necessary steps to review and confirm the data. at thoreau, transparent and independent examination of what occurred yesterday will follow but let me be clear. my number one priority has been on ensuring the accuracy and integrity of the results and we have been working all night to be in the best position to report results. and here in just a couple of minutes we will be reporting 62% of precincts from paul 99 counties the bottom line is that we had a stumbling block on the back end of the reporting of the data but the one thing i want you to know, we know this data is accurate and we also have a paper trail and documentation that will -- that have been able to use -- to provide information to help verify the results this is personal to me i'm a lifelong iowan i have caucused for 20 years i know now important to our party, to our state, and to everyone from our neighbors to new voters to be able to come together all across this state we want iowans to be confident in the results and in the process. and we are going to take the time that we need to make sure that we do just that so i know folks want to see the results as they come in. but i'm happy to take a couple of quick questions before that happens. >> how can anyone trust you now. >> we have been working day and night to make sure the results are accurate one thing i will say and see the underlying data, the raw data is secure it was always secure this was a coding error in -- in one of the pieces on the back end. but the raw data, the data that came in is secure. i can assure iowans of that. >> do you worry the cost of your first of the nation in status or endanger the caucuses as first of the nature nation. >> we don't have the results yet from the iowa caucuses but it looks like in a few minutes we get them. >> we will get the full announcement in a few minutes. >> but only 60% of the precincts. clearly a lot of questions. >> he did say the underlying data is secure it was about the reporting, wasn't a full picture of the results. >> why not just get to the numbers? i get the point he is trying to apologize and cover bases. but everyone waited long enough. >> perhaps after the numbers nobody asks about the process and get him to say what he wishes to say. >> as far as what would surprise investors one way or another. >> i don't know what's handicapped right now but i think if it's close the market is saying it's non-kmilgts therefore on the democratic side it's a amongstlong process. >> and no presumptive nominee. presumably not bernie sanders. >> a lot of people saying it's good for michael bloomberg. >> and if it's messy and the party needs to grab for somebody funding himself and part of the process. >> new hampshire in a week. >> ford and snap down sharply after hours. disney and chipotle strong number flat or only slightly. >> i want a update on the spicy kwaso. and carne. assada. >> "fast money" begins right now. live from new york's nasdaq market site, this is "fast money" and we have got a big show tonight here to guide you through steve grasso, chyron finerman and guy adami and chris verrone from strategas. tonight tackling three big money head scratchers. what else? tesla, the stock captiving everybody. surging 13% after a day late-day pullback in the options market things more crazy break down the