AT&T Spins Off WarnerMedia, Recapping 2022’s Massive Gaming Deals & A Preview of Alphabet’s Earnings

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 1 February 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start today’s show looking at stocks bouncing back to start February, and Calixto Global Investors Founder and Portfolio Manager Eduardo Costa visits to discuss opportunities in tech as he repositions within software. Then, our Julia Boorstin reports on AT&T’s plans to spin off WarnerMedia and merge the entertainment giant with mass media firm Discovery. Next, Verge Editor-in-Chief Nilay Patel offers insight on the recent slew of gaming deals after The New York Times announced it would acquire the popular web game Wordle. Our Jon Fortt also shares his conversation with Meta Vice President for Civil Rights Roy Austin as we celebrate the first day of Black History Month. Then, CNBC’s Robert Frank covers last year’s more than $500 million worth of land sales in the metaverse, and Baird Senior Research Analyst Colin Sebastian offers a preview of Alphabet’s earnings after the bell. Later, CNBC’s Leslie Picker profiles the SPAC market’s struggles throughout January’s volatility. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Julia Borsden, and you're listening to CNBC's Tech Tech.
0:03.6	Our show is live weekdays at 11 a.m. Welcome to Tech Check. I'm Carl Kintania with Dear Durbosa and John Fort.
0:29.1	Today, the NASDAQ falls after posting back-to-back days of 3% gains. If stocks can rally, a three-day win for the NAS would match the longest of the year so far.
0:39.0	Plus, AT&T shareholders feeling naked and afraid after WarnerMedia moves to Discovery, shares sinking after announcing plans of a spinoff.
0:46.6	Then the Times joins Microsoft and Sony with a gaming acquisition, although nowhere in the release did it say you should tweet your wordal score every day, Dee.
0:56.3	Yeah, no one asked.
0:57.3	Let's start with stocks.
0:58.7	The NASDAQ coming off is the worst month since March of 2020.
1:01.5	But a huge rally in the last few days to close out January.
1:04.7	Mike Santoli here now with a look at what's been bouncing.
1:08.3	Mike, yesterday it seemed like everything in the growth complex
1:11.1	is working today, a little more selective in the NASDAQ underperforming. Yeah, today we're
1:16.8	digesting really a huge two-day move. Really a day's move plus the final hour and a half of
1:22.2	Friday is kind of where you got most of that upside. As typical in these situations, when you
1:26.5	have a very stressed market, the stuff that bounced the hardest was down the most. So the most violent rebounds did happen in some of those really kind of well-begone areas of growth. Take a look at the social media, ETF. And it gives you a good map of where we've been and who knows where we're going. But that just shows you the losses over the last year.
1:49.7	And this bounce up here, I mean, you'd have to get up to, you know, it's around 50 to get to just its 20-day average. Like a dead count bounces off and back up to just a four-week average like
1:55.0	that. And then we're talking about 62 before you really have anything like a 200-day average,
2:00.3	which is still sloping.
2:01.4	Now, my point is just that we're seeing reflex balances.
2:04.4	It's not really telling us much of anything about a return to leadership.
2:07.6	The IPO ETF has a pretty similar shape.
2:10.4	It actually is in a little bit better position.
	...

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