Breaking Down Netflix-Roku Acquisition Rumors, Flexport CEO Ryan Petersen on C-Suite Change & Smartsheet CEO Mark Mader on Results 6/8/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 8 June 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors start today’s show hunting for opportunity amid the down market with CNBC’s Dom Chu, and our Julia Boorstin reports on rumors surrounding Netflix acquiring streamer Roku. Then, MoffettNathanson Senior Managing Director Michael Nathanson circles back with more insight on Netflix, and Flexport CEO Ryan Petersen joins after announcing outgoing Amazon Worldwide Consumer CEO Dave Clark will become the freight forwarding company’s new CEO. Next, CNBC’s Bob Pisani joins for a look at the crypto landscape from Piper Sandler’s Global Exchange Conference, and our Julia Boorstin returns with highlights from Spotify’s first investor day since going public in 2018. Later, Smartsheet CEO Mark Mader breaks down the software-as-a-service firm’s latest results and guidance. 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 Check. Our show is live weekdays at 11 a.m. Eastern, listen in.
0:10.8	Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintanilla with your Drubosa and John Fort.
0:15.6	Today is Netflix finally cheap. We're going to break down a number of metrics and discuss whether the stocks to buy at these levels. Plus, speaking to Netflix, is Roku a real acquisition target?
0:26.3	More on why that may or may not make sense for the streamer. And then remember when China
0:31.0	was called Uninvestable? You might be surprised to look at the performance versus U.S. this
0:35.5	year. We're going to have that breakdown, John.
0:38.0	Yeah, we're going to start, though, with a look at valuations and where to find opportunity
0:41.9	in a down market. Dom Chu has that for us. Dom? So, John, this is the time when a lot of traders and
0:48.1	investors are kind of running their screens to see if there are some of those value metrics that are
0:52.4	becoming more attractive, at least on a relative basis,
0:55.9	given the fact that the S&P 500 has pulled back the way that it has, but then showed that kind of modest bounce that we're seeing right over here at these levels.
1:03.2	So again, can't really see that here.
1:05.5	But with the S&P 500, it is a place where you can find some value.
1:09.5	Take a look now at one of the screens that the team
1:12.4	over at CNBC Pro put together with regard to trying to find some of those types of stocks.
1:17.1	If you look at the S&P 500, they look for forward PE ratios that were less than about 17.5,
1:23.5	which is roughly that forward price to earnings ratio where the S&P is right now.
1:27.7	Also, how many of those are at least 50% or more below their five-year average forward price to earnings ratio?
1:35.3	And then can show or expected to show at least earnings growth or at most or at worst, a modest decline of around 5% or so in earnings expectations.
1:45.6	You put all that together, only about nine stocks past that list of the S&P 500.
1:49.7	You've got some energy names like Exxon EOG, also some home builders in there.
1:53.7	But that Netflix trade that you mentioned off the top of the show is an intriguing one for many right now.
	...

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