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President Biden Bans Russian Oil Imports, ConocoPhillips CEO Ryan Lance on Oil Prices & Block Co-Founder Jim McKelvey on Fintech and Crypto

TechCheck

CNBC

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

4.566 Ratings

🗓️ 8 March 2022

⏱️ 55 minutes

🧾️ Download transcript

Summary

Our anchors start today’s show looking at the performance of FAANG stocks to start 2022 with CNBC’s Mike Santoli and NYU Stern School of Business Professor Aswath Damodaran. Then, CNBC’s Steve Kovach and Wall Street Journal Senior Personal Technology Columnist Joanna Stern join to preview today’s Apple product launch event, and we bring you live coverage of President Biden’s press conference announcing a ban on Russian oil imports. Next, CNBC’s Brian Sullivan sits down with oil producer ConocoPhillips CEO Ryan Lance live from the CERAWeek energy conference in Houston for more on oil prices and sanctions. Later, fintech platform Block Co-Founder Jim McKelvey offers his outlook for the sector and crypto, and CNBC’s Frank Holland reports on the impact of the Russia-Ukraine conflict on cloud and enterprise software firms.

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.

0:28.8

Good. Good Tuesday morning. Welcome to Tech Check. I'm Carl Kintania with your Dr. Drabosa and John Fort.

0:34.1

Today, stocks are coming off the worst day in over a year. The NASDAQ setting that new low for 22.

0:38.1

We're going to take up the pain in tech stocks and specifically the mega cap names now getting hit hard. Then Google adds mandi into the portfolio, what that means for Alphabet for

0:43.5

Big Tech M&A and other cybersecurity names. Later on, an exclusive interview with the Block co-founder

0:49.5

not named Jack on FinTech investment. Surprise, he likes Bitcoin as well. And we are waiting the

0:55.7

president set to make some remarks on the ongoing crisis in Ukraine and expected to announce

1:00.8

a ban on Russian energy. When that starts, we will take you their live, D. Well, for now,

1:05.7

let's stick with Google this morning, officially announcing plans to acquire cybersecurity company, Mandiant, for

1:11.6

$5.4 billion or $23 a share.

1:14.6

Since reports of a potential sale first started on February 8, the shares have increased

1:18.7

nearly 50%.

1:19.8

The deal comes as cybersecurity MNA continues to heat up.

1:23.1

According to Security Week, 2021 saw 430 deals in the space, including 11 for more than a billion

1:29.8

dollars just last month, 35 more were announced.

1:32.8

Mandiant will join Google's cloud computing division led by Thomas Currian.

1:36.5

This morning, other names in the sector are falling.

1:39.0

Yesterday, Fortinet announced it was suspending Russian operations.

1:42.9

A. you do see Palo Alto networks up about a third of 1%.

1:45.9

John, we talk often about the antitrust element of this.

1:49.8

And when we were talking about this a few months ago in the context of reports that Microsoft was maybe looking at Mandiant, not as much concern.

...

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