Breaking Down Super Bowl Ad Spending, Expedia Group CEO Peter Kern on Earnings & DraftKings CEO Jason Robins on Sports Betting 2/10/23

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 10 February 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We begin today’s show with CNBC’s Mike Santoli looking at this week’s divergence in the performance of the major indices, and our Julia Boorstin reports on ad spending for the Super Bowl this weekend. Then, Expedia Group CEO Peter Kern discusses travel demand after the travel platform posted a miss in Q4, and CNBC’s Kate Rooney covers the SEC doubling down on efforts to regulate crypto. Later, DraftKings CEO Jason Robins offers his outlook for sports betting ahead of the big game on Sunday, and CNBC’s Kristina Partsinevelos reports on demand for tech employees as more companies announce layoffs.

Transcript

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0:00.0	I'm John Ford you're listening to CNVC's Tech Check our show is live weekdays at 11 a.m. Eastern listen in
0:06.8	Good Friday morning welcome to Tech Check I'm dear D'Rboza with Carl Quintanilla and John Ford today
0:11.4	lift craters week guidance tanking that stock more than 30% after
0:16.4	earnings expedient shares also lower after its own miss on revenue the CEO joins
0:20.5	us exclusively this hour and later the CEO of Draft Kings live from Phoenix
0:25.5	ahead of the Super Bowl with a 30 second ad spot going for 7 million dollars this
0:30.8	year Carl.
0:31.8	D we're going to start with the move lower in stocks for the week.
0:35.6	The NASDAQ up 12% for the year, but on pace to break a five-week win streak.
0:40.8	That divergence between the performance of the major indices is a big one
0:44.2	the NASDAQ outperforming the dow by double digits in 23 although I know our
0:48.8	cambec senior market's commentator Mike Santoli has taken issue with some of how that's sliced.
0:54.3	It's factual and I think the main takeaway is that you just turn last year's
0:59.5	standings upside down and that's what you got.
1:01.8	So this January into February in particular
1:04.8	you have one of the more pronounced worst to first type dynamics I think you can
1:09.8	pull back a little bit though and say 2022 was probably the peak of technology and other mega cap growth
1:18.2	being the downside sources of pressure on the market.
1:21.5	They had a lot of the work done now it's much more
1:24.6	differentiation i think is happening uh... for example
1:28.1	you talk about lift well uber's outperforming lift, transports look fine against lift.
1:34.0	Even a firm getting taken apart today.
	...

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