Twitter Sues Elon Musk, Finding Red Flags in the Investing Industry & Unity Announces Plans to Merge with IronSource 7/13/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 13 July 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with CNBC’s Mike Santoli breaking down the impact of the morning’s CPI data on high-growth tech trading, and Citi analyst Ron Josey shares his outlook for Amazon amid the current inflationary environment. Then, our Julia Boorstin reports on Twitter filing a lawsuit against Elon Musk in hopes of getting him to complete his deal to buy the platform. Next, QVR Advisors CIO and Managing Member Benn Eifert joins after publishing a new piece on red flags in the investment industry, and CNBC’s Steve Kovach covers video game software company Unity’s plans to merge with app business platform ironSource. Later, Guggenheim Partners Senior Managing Director Robert Bartlett offers his thoughts on consolidation in the software space, and we circle back to the Musk-Twitter lawsuit with Vanderbilt Law Professor Morgan Ricks. 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 John Fort. You're listening to CNVC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:07.5	Good Wednesday morning. Welcome to Tech Check. I'm Carl Cantanilla with John Fort and Dear Dobosa.
0:12.0	It is a busy one today. A few sharp moves in stocks following that hotter than expected CPI.
0:17.3	We've got more on how to navigate this volatility, which names and sectors are getting hit,
0:21.5	what companies are doing about it.
0:23.4	Plus, with the tech sector crushed, what does a SPAC-turned software acquisitions say about
0:27.9	valuations today?
0:29.7	Unity buying iron source at some fire sale prices, plunging on the news, how investors
0:34.5	and corporations are looking at asset prices here. Then another story
0:38.2	about falling stock prices and macro weakness, Alphabet, the latest big tech company with an
0:43.2	economic warning and some layoffs. And to round it out, analysts taking note ahead of earnings.
0:48.7	Apple has been a safe haven, but two price target cuts today, City and Barclays, adding to the Key Bank cut yesterday.
0:56.5	Apple lower, of course, and we do have the NASDAQ for the moment, John, on the green.
1:00.8	Yep, that's right.
1:02.0	Kind of flattish.
1:02.9	We're going to start this morning's feed with the CPI number and the impact for the market.
1:10.0	Mike Santoli, if you look at the overall indices,
1:13.0	they tell one story, but you look underneath at something else. I mean, a lot of growth
1:17.0	tech anyway seeming to take it on the chin this morning. They did for a bit. John, obviously,
1:23.3	it's firmed up at the headline level. Look, it's tough to disentangle exactly what the influences
1:29.0	are here. But we talk about the yield impact on technology over time. Well, the yield impact is on
1:35.6	the overall market. Tech's a big part of it. What happens when you get a hot CPI number? People
	...

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