Arista Networks CEO Jayshree Ullal on Earnings, BlockFi Co-Founder and CEO Zac Prince on SEC Settlement & F5 CEO François Locoh-Donou on New Cloud Security

TechCheck

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Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 15 February 2022

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show taking a closer look at names leading the Nasdaq higher with CNBC’s Dom Chu, and Bessemer Venture Partners’ Byron Deeter offers a deep dive into the cloud sector. Then, Arista Networks CEO Jayshree Ullal discusses the software firm’s latest earnings beating the Street’s expectations, and our Julia Boorstin breaks down this year’s Super Bowl ratings. Next, crypto platform BlockFi Co-Founder and CEO Zac Prince joins after the company agreed to pay the SEC and 32 states a $100 million settlement over its retail crypto lending product. CNBC’s Ylan Mui also reports on Senate Republicans’ plans to boycott a committee vote to advance President Biden’s nominees to the Federal Reserve. Later, cybersecurity provider F5 CEO François Locoh-Donou shares details on a new cloud protection service the company recently announced.

Transcript

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0:00.0	I'm Deerreboza and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:28.7	Good. Good Tuesday morning. Welcome to Tech Check. I'm Carl Kintanier with John Fort and Dear Dubosa. Today, stocks are rallying on some easing geopolitical tensions, despite the move higher
0:34.1	than Nasdaq, still more than 13% off the all-time high. This hour, we're going to look at one sector in particular that's been badly beaten down,
0:41.2	talk about what buying opportunities may lie ahead.
0:43.7	We'll talk with the CEO of Arista Network, spiking on results,
0:46.7	plus the CEO of F5 joins us as they focus on cloud security.
0:50.1	And finally, Intel continues its spree of acquisitions.
0:53.7	We'll get more on this $5.4 billion deal, D for Tower Semi. And Carl, we're going to start with the markets. Look at what names are leading the NASDAQ higher this morning as it outperforms. Domch 2 with that. Over to you, Don't. Very much a NASDAQ focused trade today because it is an outperformer. It often is the most volatile part of the market.
1:12.5	But Carl mentioned that 13% drop from the record highs that we are still at right now.
1:17.7	And just to kind of put it in visual context from those highs, this is what down 13% looks like overall.
1:24.4	We are still below some of the longer averages or trend lines for the NASDAQ,
1:28.3	but still trying to find some kind of a base. We'll see if it lasts. Within that particular
1:32.4	trade, the S&P 500 technology sector overall is still down roughly 11% from the record highs that
1:39.5	we've seen over the course of the past couple of months here. What's notable about today's trade,
1:44.4	though, is with this move higher by around 2%, this particular sector is now above its 200-day
1:50.2	average price on a rolling basis. So technology, a big focus there. Within that technology sector,
1:56.2	as we've drilled down a little bit more, three focal points for many traders in that tech trade
2:00.7	have been with the
2:01.9	semiconductors, as you point out, also financial technology stocks and social media as well. They've been
2:07.4	a lot of the epicenter around the volatility, especially to the downside that we've seen, among
2:12.4	these three ETFs that track semiconductors, financial technology stocks, and social media.
	...

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