Congressional Stock Trading Ban Gains Ground, Doximity CEO Jeff Tangney on Latest Earnings & Arm CEO Rene Haas on Plans to Go Public

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 9 February 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show breaking down Meta’s plunging market cap, ride-hailing app Lyft’s Q4 earnings and rumors surrounding Microsoft acquiring cybersecurity firm Mandiant with Wheelhouse Capital CIO Ann Berry. Then, CNBC’s Ylan Mui joins with new developments on a potential stock trading ban for congressional lawmakers, and our Julia Boorstin previews Disney’s earnings after the bell. Next, Doximity Co-Founder and CEO Jeff Tangney joins to discuss the medical networking platform’s latest results, and CNBC’s Eamon Javers shares highlights from his exclusive conversation with Microsoft President Brad Smith on the software giant’s plans to upgrade its app store. Later, chip designer Arm’s new CEO Rene Haas joins exclusively after Nvidia’s deal to acquire the firm folded under regulatory pressure. 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. Our show is live weekdays at 11am Eastern. Listen in.
0:27.6	Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintanio with Deirdreboza and John Ford.
0:33.2	Today, more Microsoft M&A, why cybersecurity firm Mandiant may be Nadella's next target,
0:38.4	then a hail storm for Lyft, a deep dive into those earnings as the stock does a nice U-turn this morning.
0:41.3	Later on, an exclusive with the new CEO of Arm.
0:45.2	What's next after Nvidia's historic deal for the chipmaker collapses?
0:49.9	We're going to start, though, with meta and a pretty severe drop-off, as you know, since earnings that brought the stock below a $600 billion market cap, now recovering a bit, $615 billion.
0:57.1	Interesting level here, but that did take it to the lowest level since May of 2020,
1:01.1	given that it might actually help the company, formerly known as Facebook, Dodge some antitrust scrutiny.
1:06.3	Is this the chance to buy into Fang for cheap, or is the TikTok tumble just beginning?
1:11.5	Joining us this morning to discuss Wheelhouse, C and Barry and it's great to have you back thanks for kicking off the
1:16.1	hour with us pleasure great to be here i wonder how much of these dramatic losses coming out of the
1:22.9	print do you think are actually reversible if they can demonstrate some tangible progress in this new growth area?
1:29.8	Look, I think so. I think when it comes to META, they are so well positioned with virtual reality hardware
1:35.9	and having a captive audience ready to experiment in this space.
1:40.1	I think they can't turn the corner, but we can't underestimate the impact that TikTok has had on matter.
1:46.0	And I think they're going to be a ferocious competitor for a long time for Zuckerberg to be fighting against.
1:52.1	And that $600 billion market cap level is an important one because it could help meta escape some of that regulatory scrutiny or backlash.
2:03.8	Does that shift on to others like a Google that has benefited so much from this Apple privacy move? Well, I think there are a couple of
2:10.2	things to unpack there. In terms of moving below that $600 billion cap, I think that's certainly
2:16.2	helpful for Facebook.
2:20.2	I do think perhaps there could be repercussions for Google.
	...

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