Launched today around 77. Around, you know, in that roughly about 1. 8 billion offering here where the valuation of the total company, if you extrapolate that out, youre getting well into the 13 billion neck of the woods. So a very, very Big Development here. Jackie deangelis is following it. This is kind of the rule of thumb, the vast majority have been of that ilk. But again much will have to change, and well see in the next few hours. Not a bad launch. What are you hearing, jackie . Not a bad launch at all. It came public under the Ticker Symbol u, neil, and its trading higher by 35 . Opening trade was 75 a share when it priced at 52. This is remarkable because the whisper number last week on the low edge of the range was 34. So you stand back and ask yourself what are investors thinking, especially during this time period of so much uncertainty, you know, to be bidding up a stock like this, you know . This is a company, as you said, its part of this Video Software chain, so it makes tools for the developers that then go design the video games themselves. Last year unity tools were used by 1. 5 million monthly users to create some of these games, when i kind of question whats happening here, ill just remind you this is a company that isnt turning a profit. Most recently it lost 163. 2 million. Its losses are actually not even going in the right direction because in 2018 it was 131. 6 million loss which was less. Now, you could argue that revenues are growing, so thats why profits are, or the losses are getting a little bit bigger. Im told they sort of finetuned the business model. But what this really says is that the markets, while theyve been volatile of late, theyre still on high alert for deals, theyre looking for them, Even Companies that are losing money because the fed just said this week its going to hold Interest Rates this low for at least three years. What else are you supposed to do, except to try to invest into the future . Unitys ipo coming after more debuts this week, snowflake, jfrog, both i saw their the prices ratcheted up as well, and you can see some of the other companies that went public this week. Well put those up for you. I think there were about 14 deals. The approximate value was almost 7 billion raised. That is a lot of money to go into this market, and its the busiest week for ipos that weve seen since may of last year. Ill just finish on the final note here, u, unity raising about 1. 3 billion at valuation of 13. 7 billion. This is one were going to have to watch and see if it was worth it in the long run, you know, on the first day pop you really cant tell. Neil . Neil you cant. But im surprised some of the other issues, you know, that theyre holding their own, you know, jfrog, obviously, snow fake yeah. Neil that have not collapsed given their enormous runup the first day. Jackie, thank you very much. Want to get the read on this from gary kaltbaum, gary, i love to read your notes, and yours as well, katherine. One thing, grey, you had gary, you had touched on, it is what it is, but when you look at a snowflake or some of these other commanding names, they dont necessarily have to be in sync with reality, do they . Yeah. And, look, i tell everybody who dare listen ares to me listens to me just three words, pick your poison and just know what youre dealing with. Snowflake opens at a 90 billion market cap with 400 million in sales and 300 million in losses. Somethings going to give, and guess what . Its already down to 60 billion of market cap. All i can tell you is that we go into a bearish market, the stocks 50. Theyre taking advantage of a very strong market here, and blame is put on the retail people or who are willing to pay up. But when all is said and done, i will promise you, neil, valuations will always count in the end, and i just tell people be very, very careful. You do not want to hand over 10 to somebody and get a dollar back. Neil well, there is that. You know, katherine, whats kind of interesting here, if you buy the fact that most of these successful upos, at least at the launch, are of a technology that usually some sort of distinction in that they do a lot of business in the cloud or up in the air, theyve replaced sort of the juggernaut granddaddy technology, the apples, the amazons, the microsofts, to a large extent the facebooks as the new attention getters. Im not saying theres a leadership change here. They need a lot more market heft to do that as far as the influence they would have, but what do you make of that . I think its more sustainability of leadership, neil. I think 2017 has been basically five tech names of that have led markets higher with more than 25 of s p 500 market capp attached to technology sector. So as we get the new wave of technology advances, i think it keeps technology firmly rooted as the Market DriverGoing Forward. And i would encourage our clients when we saw that, you know, 10 dip in Technology Last week to start accumulating. If you have some cash on the sidelines, the fact is, is that, you know, market, fiscal and monetary stimuli are not going anywhere. Weve all been waiting for the dips, we find them as opportunities to really take some of that cash and put it to work. Neil right. You know, taking a look at some of the them, were showing the apples, the facebooks, amazon, microsoft, with the exception of facebook kind of taking it on the chin, theyve had a rough ride i believe is the case with most of them, at least 10 from hair highs. Its been a bumpy ride, and we should still stress that the s p index itself is up, i believe, north of 30 all of this year. So how do you play technology, gary, in the aggregate . I can tell you, neil, that a couple of weeks ago i got out of technology, and thats where i usually invest. I think were in a correction mode right now. It just needs to. The amount of move that we have seen in some of these names are good for two, three years that happened in three months. I still love all these names. I think microsoft and facebook and apple are going to do great things Going Forward. They are juggernauts, they are category killers. Just there are moments in time where e where the market deems they got overheated, overleveraged and overloved, and now the leverage is going to come off, and i think we have some more price in time as they pull them back. Unless the market really takes a bug hit, i will be buying them on the way down. Just not yet, im patient here. Neil you know, katherine, 2 p. M. The president is likely going to be talking about, among other things, vaccines and very optimistic one could be had by as soon as next month. I think dr. Fauci was on the wires earlier i dont know where he was speaking so i apologize where he thinks something could be available by the end of the year. Im just wondering, lets say a vaccines out, then what . What do the markets do with that . Theyve been bidding up prices, recent week and a half not withstanding, on the prospect of one. What do they do once they get one . Good question. I think a lot of guidance likes to sell, right . Theres going to be a lot of volatility, i think, in the coming few months attached to not just the vaccine, which i think weve all been anticipating, right . This shouldnt come as a surprise to really anyone. I think youve got to consider the percentage of people that are going to opt to take it, neil, because thats not getting a lot of coverage, and theres a lot of skepticism with regards to the vaccine wherever it comes from, whenever it comes. The next thing i would say is, of course, elections. If we get a democratic sweep, a blue wave, then i think we should expect technology to take it on the chin, health care to take it on the chin and potentially energy as well. So these sectors that were all positive with right now, we have to realize that higher taxes are coming, right . More regulation is coming. Thats just what wering being told is in, is in the offing. So if we get a democratic sweep, i think that youre going to see declines in those sectors specifically. Neil all right. Guys, i want to thank you both very, very much. And, again, this issue we raised with the vaccine, whether one could be coming out sooner rather than later, remember, there are a number of players that have a promising sort of a liftoff here. The latest is the deal the e. U. Has struck with sanofi, a vaccine that could be certainly ready there, a lot of financial muscle behind that. We also have astrazeneca, remember it was delayed in trials, but it is back on now, were told. Whether that means one would become readily available by the end of this year is anyones guess. Pfizer working with biontech and moderna, of course, with its own drug. These are the big four, being told to concentrate on, tomorrow on my weekend show on fox news were going to be exploring all the different possible vaccine possibilities, what gets the most attention, how will it go if it happened, whats the procedure for who gets it and when. You know the drill, usually health care workers, the you would orally, those are vulnerable elderly, those with vulnerable conditions. Back and forth on this, people saw sinister intentions and only the rich will get it, but i thought wed devote some time to that tomorrow, 10 a. M. Eastern time, who gets what and when it comes out because increasingly it looks like somethings in the offing and maybe sooner than you think. Were also on two Big Developments on capitol hill, one to keep the government lights on at least through the election, and another, yeah, on stimulus are relief. The latter one does not seem to be going anywhere, but i could be wrong. Chad pergram on what could be happening to avoid a government shutdown, whether the parties are coming together i guess on something, chad. Whats the latest . Hey there, neil. We should get the text of the bandaid bill to fund the government later today, the house of representatives is expected to vote on that next week, and House Speaker nancy pelosi has been add plant she wont attach any concern adamant that she wont attach new Coronavirus Relief to that. Red and blue are getting nervous about not doing any sort of coronavirus bill before the election, among them is dean phillips, a freshman democrat from minnesota. And we introduced our framework just a couple of days ago. I think its sinking in. I think conversations have been ignited, that was the that was our mission. I think this is just beginning. Phillips won that seat for the democrats in 2018. Hes working with republican members to um employer the speaker to move implore the speaker to move a narrow coronavirus bull before the election. Pelosi has dismissed a bipartisan bill assembled by the problem solvers i made my statement. I respect what theyre doing, i made a statement about it. As have our, as have our, our chairs. 3. 4 trillion. Remember, weve come down 1 trillion, ask is we met and said wed meet them in the middle. So it this is not about being te enemy of the good. Reporter pelosi is still pitching a larger bill, the biggest money for state and local governments and an emerging area is help for the airlines only operating at 30 capacity. Layoffs are coming back at the tend of the month. Alaska relies heavily on the airlines, and this is why gop senator Lisa Murkowski is concerned. As one who has no other choice in terms of getting home, i want to make sure that our Airline Industry, not only the passengers, but Cargo Carriers are able to make it through this really difficult, difficult time. Reporter now, democrats say that theyre willing to do some add awed for the airlines, but the things theyre worried about first is help for Small Businesses and also getting out unemployment checks. Those are aone for the democrats. Back to you, neil. Neil you know, on the Airlines Real quickly, chad, ive heard it would likely be if it ever comes to fruition like the 25 billion measure when the whole pandemic started. The airlines, obviously, want a lot more than that, but im just wondering will it be in that likely range . Reporter nobody really knows. I mean, weve had some meetings here with senators and also at the white house talking to airline executives, but if you dont have a bill, nobody the actually knows what that figure will be. Neil yep, there is that. Chad pergram, thank you very much, following these twin bills. Your attention on something to keep the government lights on and avoid the shutdown certainly before the election. Less likely is that stimulus measure, repalins and democrats republicans and democrats far apart. But you never know. Things can change, often do. On the corner of wall and broad right now, were keeping an eye on the Video Game Software maker. Its a lot more than that, it uses that technology in all sorts of technological initiatives on the part of companies, a whos who of fortune 500 backers. But nevertheless, that Technology Theme really putting it together for unity. It got close to 77 a share, it is well over its offering price of 52. And remember not too long ago, a little more than a couple months ago, they were hoping in the range of 3440, 42 a share. A lot more than that. More after this. Still your best friend. And now your copilot. Still a father. But now a friend. Still an electric car. 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Now, given this runup right now going into it at 52 a share, it would have valued the company at around 13 billion. This is, you know, a 30 lift if that, so were closer now to 2 billion. Whats interesting as well is that snowflake, when it went public, you know, it was now flirting with a market cap of 70 billion. Im doing the rough math in my head always risky without charlie brady, our stocks editor all of the valuations attached to those companies have now crossed likely about 150 billion. Now, that is just on paper. It can be fleeting. Stocks drop all of a sudden into ether, these valuations then go. But in a busy week of offerings and we tend to look at them by number, by the dozen or so and by the end of next week the two dozen or so that are coming public i tend to look much more at the overall aggregate value because its simply a more eyepopping revelation of whats going on. When the general market tends to hiccup, the market valuation of all of these offerings when you get into this neck of the woods and adding up the snowflakes and the unities and the jfrogs and a host of others, the rough back of the napkin figures that im getting put it north of 150 billion. And that might be conservative when all is said and done. Again, im looking at the aggregate value of the Companies Based on the price of the shares being sold. Thats a little weirder, i grant you, but its a good way to sort of monitor where a lot of folks are placing their bets. So well be following that. Also following some changes going on in the big apple right now. We told you yesterday about new york city and the fact that its going to stagger once again the opening of its school year. But whats happened in the process is a lot of parents are flummoxed, surprised, theyre angry, theyre using words that we cant use on a family show. Kristina partsinevelos has been following all of this because, man, oh, man, its a nightmare, right . Reporter i know. Another blow to the city. You have parents and administrators that are shocked yet again that school is not set to start on monday as planned leading some to say this is yet another blow dot. Comback of the big apple dot. Comback of the big apple. The indecision were seeing in new york is just another drop in the bucket with all the headwinds, all the other challenges that new york city is facing that Business Owners have to deal with as they contemplate whether or not to open up their offices or whether or not they even stay in business. Reporter you have parents that are struggling to deal with childcare, but the future of businesses is also in question. You have a let or that was signed by some Major Business leaders like the ceo of morgan stanley, the ceo of jetblue, and this letter was addressed to mayor de blasio warning, quote, of widespread anxiety and in the city along with, quote, deteriorating conditions in commercial districts. And so you have even the governor of the city, too, warning the longer these work from home policies are in pla