bell adobe reported a 25% rise in quarterly revenue as its earnings did beat wall street expectations. the quarter was driven by growth in adobe's digital media business. share initially fell after closing the regular session up 1% to $267.69. >>> shares of tailored brands came undone after posting results that fell short of ns expectat last night they reported the parent of joseph a. bank and men's warehouse gave weaker than expected current quarterin guidance s that same-store sales had dropped during the fourth quarter and that the trend had continued in the early months of 2019. their lost a quarter of value today, closing at $8.75.ok >>> face data sharing deals are reportedly the subject of a criminal investigation now by federal prosecutors. "the new york times" says a d jury has subpoenaed records from at least two well-known makers of smartphones and other devhat seportedly had access to facebook data. facebook today said it had resolved aut widespreade that affected its facebook, instagram and whatsapp platforms. the company said it was a technical issue, not an attack. faceb

once they leave their adobes. the projects. the low-income housing. ♪ hola, ramona. como estas? dos burritos, por favor. de asado. por favor. ♪ >> sandro: que rico. gracias, ramona. [ anthony groans] you've been riding horses? >> anthony: yes, you've noticed? the groan as i sit down. mmm, that is a serious burrito. no rice and all that. this is the real deal, man. i love it. were you born here? you were born in mexico city? >> sandro: i was a fisherman in alaska for 19 years of my life. >> anthony: oh, yeah? >> sandro: in the bering sea. >> anthony: now, is it adobe or adobe? >> sandro: adobe. >> anthony: adobe. and you were quoted as saying "adobe" is political. >> sandro: yes, you're going to start with that question? >> anthony: yeah. i'm interested. ♪ >> sandro: straw, clay, water, and manure -- that's what makes the adobe. we make a flat surface here where we're going to put the water and the manure on top. adobe building has happened all over the world for thousands of years. ♪ ♪ >> sandro: here, historically, the adobe has been kept alive by the mexican and mexican-am

of adobe. this is bloomberg. ♪ caroline: here is how u.s. stocks performed today. we climbed higher. joe: "what'd you miss?" caroline: a judge recommends an import ban on some apple iphones and samsung issues a rare profit warning. adobe teams up with microsoft to win more customers. brexit confusion continues. u.k. parliament will try to break the deadlock tomorrow. romaine: we have some earnings breaking right now. reporting earnings after hours for the first quarter coming in at $.31 a share. revenue missed coming in at about 800 and $11 million. you can see the shares are a little changed. u.s.speaking of housing, housing taking a hit in february. suggesting buyers and builders are wary despite the good news in wages and mortgage rates. of next guest sees the odds an impending recession still low. great to have you back. last week it is like suddenly the recession talk surged. probably relating to the fed pivot and the curve in version. how worried should we be? guest: i don't know. joe: ok, thank you. [laughter] guest: nothing is for certain. obviously there is a little tailwag

lee >> when we come back this morning, the ceo of adobe, weaker than expected guidance overshadowing the earnings beat. stocks down on the premarket though futures looking pretty good here, the s&p is on pace for the sixth week, up in seven. don't go away. alpha seems more elusive today. is it because so many go after it the same way, chasing after short-term returns? instead if getting caught up with the crowd, the investment managers at pgim take a long term view. uncovering opportunities for alpha across public and private markets, while anticipating unforeseen risk, has powered our rise to a top ten global asset manager. partner with pgim. the global investment management businesses of prudential financial, inc. the global investment management businesses of thithis is the invitationo a higheto lexus sales event. lease the 2019 es 350 for $379 a month for 36 months. now thru march 31st. experience amazing at your lexus dealer. nks bre . >>> breaking news on industrial production to rick santelli. >> a number somewhat in the area of 1%. we did gain a couple of tenths last month fr

but i want to squeeze in one more quick one here adobe the cloud computing giant the company took a dive the other day after weaker than expected earnings what do you make of adobe . i love adobe here i think that the fall on earnings is a great opportunity for a buy the move they have made into a software as a service company is huge for their profile and the adobe creative cloud you really can't beat it so i like adobe between two fifty and two fifty five for a buy it's a new all time highs then yeah we sure appreciate you being on as always the end of the director of options is simply trading thanks daniel. thank you. and turning to europe there is good news for workers receiving the minimum wage in greece and spain as the two nations have recently boosted their minimum wages by roughly eleven and twenty two percent respectively unemployment remains high in both countries with spain most recently measured at fourteen percent and greece that eighteen point five percent both countries have been steadily boosting their minimum wages in recent years to differing results spain has bee

back to workday and adobe and dell i had michael dell on yesterday. they're back dude, you've got to buy a dell >> it's been a while since we've heard that this is what dell told jim about specifically a.i. last night. >> i'm a huge optimist that technology will do far more good than bad you know, it's addressing all kind of opportunities in health care, in education, in sustainability, the environment, certainly businesses are becoming more productive and more effective ultimately technology is about enabling human potential >> kind of reminiscent of david the other day. >> they can both be visionaries. he brought his company public when he was 23 in 1988 and he took it private about six years ago. when you go into a major bank, you expect to see all ibm. now you see dell i'm talking about half billion dollar deals they do with banks pretty routinely you start with a pc, you go to the server you literally just even internet of things. and because of vmware they have a fabulous relationship with amazon people say it's a pc maker that is so wrong this stock is radically undervalued. t

. >> oracle and adobe each topped expectations in the recent quarter with big revenue gains for adobe. wall street tends to focus on what is next. oracle and adobe each provided weaker than expected forecast for the current quarter. shares of both companies are headed lower. that will provide some drag on the tech center. oval coral is down 3% oracle adobe dan moore by 5%. state media in china is saying talks are going well between china and the u. s. they even paid some compliments to president trump on his handling of the negotiations. president trump yesterday said he is in no rush for a deal. he said there must be protections for u. s. intellectual property. the stock market is giving a boost from that but facebook is adding drag. they recently reported some of the shooter video from christchurch was live streamed on facebook, which then took the video down. facebook shares are down 2.5% on the news. let's look at the big board. the dow jones is up 20 points. the nasdaq is up 40 points and the s&p is gaining seven points. back to you. >>> this morning, bart is laying out the details of

report after the bell with adobe, broadcom and ulta beauty first let's check the market lower but we started a little lower still than this and recovered to positive for most of the early part of the afternoon. the dow is exactly flat. s&p down .1% as is the nasdaq. >> mike santoli in the note today said we are jogging in place at the 2019 highs. we'll talk to him, of course, later. >>> new home sales in january sinking. diana olick has more on what that signals for the economy and the housing market, diana. >> reporter: it may just be that consumers are pulling back from those big ticket items this was a surprise, especially given the drop in mortgage rates. sales of newly built homes fell nearly 7% in january compared to december and down over 4% annually according to the census this as the average rate on the 30-year fixed fell over 5% in november to 4.5% in january. the sales numbers based on signed contracts and not closings and people out shopping in the neighborhoods just at the start of the new year. the median price of a new home seattle in january fell down over 3%. but tha

sign electronic signature company .ocusign reporting how the company is faring with adobe next. ♪ emily: ppg's bill mcglashan has resigned after he was charged in college criminal scandal. he recruited high profile investors to be part of his efforts including u2's bono and former secretary of state john kerry. he announced his resignation and a letter saying he's deeply sorry this very difficult situation may interfere with the work to which he has devoted his it will givesays investors the opportunity to back out of the fund if they would like. shares of e-signature company docusign falling by as much as 9% at one point as a company reported its first full-year numbers since going public in april 2018. total revenue was just under $200 million, an increase of 34% from the same time last year. the company also forecast revenue for the first quarter ahead of analyst estimates, so why the after market sentiment? to answer that, i have the ceo, dan stringer, here with me in studio. why do you think the stock dropped? >> i think after hours is not a very good indicator of what h

out adobe looking for? tata be looking for. tata be looking for? craig: it is too soon to tell. after that $4 billion write-down, it is a bit of a more attractive asset. it is definitely also kind of an iffy time. you may not see a lot of action on this front until brexit resolves because it will have huge applications for land rover and abhor and how they will be valued -- land rover and jaguar in how they will be valued. guy: it is hard to see the valuation being in this dry frame and the other engineering story. these businesses are going generationalsive shift. i'm trying to understand, how you value a car company right now? and landth jaguar rover, on the jaguar side, they have issues where they have more dependence on diesel. land rover is a hugely valuable suv franchise. that is on the other side of the ledger. but you also just have them on the jaguar side, you have a bit of sharing up suv platforms, where they are bringing crossover market as well. segment wise, they are playing in the right spots. and that is valuable. you also have a bit of a tech play, where they ar

thing, bite stocks of amazon, alphabet, adobe, nike. invest in robotics of amazon made by honeywell, and for dick's itself, i think you ought to stay away, right now too hard to be a brick and mortar retailer if you have too much commodity merchandise that can be bought more cheaply and conveniently via amazon. scott. >> caller: i watched you interview on february 14th, ceo of twilio and syngrid. i entered at 107 and today the all-time high of 2126. question is do you feel i still take profit off the table or still long on it >> i got a conference call thursday and kicking myself. but you got it right don't sell twilio. do not, it is not a trade, it's an investment. jim in new jersey. >> caller: hey how you doing today, big question you've been tolling -- energy, had -- >> loved cheniere since the show began. what do i think? still like it. doing work with the next one but i like that. people say jim you're being a pig on twilio, i'm not being a pig. i think that you -- deal with jeff lawson as visionary $15 billion, i think could go to $30 billion. yep. dick's gave us plenty to thi

the close we hear from one of the most important cloud stocks if not all technology stocks, adobe. i think it's going to be a blowout. if cloudera delivers a great number on wednesday, sells off any way it wants on thursday, i fear we'll continue to be plagued by the same negative pattern, that distorted so much of tech. and then saw the stock get annihilated we want to tell to you boy adobe the head of the quarter but the negative pattern needs to be broken if cloudera puts up the great number i think it does and then what we do, is we get a no sell-off on thursday, but an actual rally, then can you go maybe do call options on adobe before it reports after the close. i like the stock of broad com on thursday he's a hardware guy. i'm expecting huge numbers, think he's done a patented streamlining of a new business, stripping of its most profitable core and firing people i want to hear how much stock he purchased. i bet he bought a ton. broad com is a horse, him buying underneath and a good quarter from the buying company, stock could go higher. ulta beauty has been a strong performer

since the last time we heard from them. see, you lost -- a little accident there now, when adobe reported investors yawned on tuesday analyst q&a a on a user conference and i bet we'll start hearing a lot of good things to make you want to buy regardless of the inverted yield curve. the pin action if i'm right could spread to the other cloud names like the foreign names, salesforce and service now, so we get to sell off off this inverted yield curve and all the machines and then you make some money on adobe wednesday morning we get results from lennar. i think the last few months have untethered the housing market from anything except mortgage rates and they're plummeting so might be a good time to buy a home or a stock. is the economy still accelerating or is everything cool we'll find out when we hear from paychecks. more for small, medium size business last quarter was fine. the analyst just don't like it and missed the boat the whole way out. we get results from pvh and lululemon. pvh hanging in there lulu has been roaring until it was body slammed by a curious downgrade and

coming from adobe. this company was expected to post a 4% increase in earnings per share. it did beat that in some. more than the 23% increase in revenue that was expected. lisa: the market is being driven lower with respect to facebook. companyx is leaving the . shares are down about 1.5% in after-hours trading. we will see if this comes after turmoil at the top or whether it said, it's time to leave. that does it for me with the closing bell. is stepping up next. this is bloomberg. ♪ caroline: live from new york, i'm caroline hyde. u.s.s a snapshot of how stocks had a muted day overall. another chapter in the seemingly never-ending bread to saga -- never ending brexit soccer. adding another dimension damage to the british economy. foraps there are reasons hope. by some economists say the worst may be over for the global economy. and the unveiling of tesla's new crossover put the ceo back in the spotlight after series of setbacks. facebook cheap are officer chris cox is leaving the company. caroline: it's significant because we've got some key moves to deliver at facebook, the ongo

at on items to customers. adobe's running a strategy to win more custom -- corporate customers. the company announcing a new software system called experience platform. it will unify business applications that have been added in different acquisitions and connect them with new apps from third-party developers. it echoes the salesforce strategy of acting as a data hub. those of the global tech stories we are watching. haidi? haidi: the an australian tech uniform is part of an exclusive club. they were only two other members of until this week. the latest tech startup to enter the billion-dollar valuation club after it concluded its latest funding round. the president and cofounder of airwaleex joins us. from what we understand, the company was born out of two things. one is coffee and the other is the university of melbourne. how did it all come about? lucy: well, we are founded by four university of melbourne colleagues. we worked together before and friends back in uni. two other founders opened a cafe prior to finding -- founding airwallex. two of the things that are very dear to

downgrade with all of the uncertainty for chipmakers. adobe, though, disappointing. it was a tale of diverging tech stories. guy: is this the day the s&p breakthrough that resistance? it is witching day, which means we are trading on very high volumes on both side of the atlantic. the stoxx 600 of by .5%. it just keeps moving on. it is a very slow, increment a rally. we are watching what is happening over there with the s&p. the pound continues to push on as well. we are trading 1.3272. we were wondering whether we could get through the whole show without make sitting brexit -- without mentioning brexit. that is not the case. talks with the dup underway at the moment, and whether or not that will allow theresa may to get through this story and get the third vote successful when it comes to her deal. cable pushing on. we've been talking about boeing all week. the boeing story is rippling through its customers, the airline companies. ryanair is a boeing customer. citi being affected, and pointing that out. stocked down by 0.5%. 1.05%. vonnie: i want to look at the 10 year yield right n

there are too many cloud companies. servicenow will merge with workday. and sales force adobe, do you think there are too many cloud companies, too many small ones and we will have consolidation >> i don't know exactly how it will play out, jim we talked about my point of view about this, that fundamentally i think there's room for multiple winning platforms. in the consumer lives we have multiple winning platforms in the work world i think a modern tech stack, in almost every case sales force, workday, adobe, servicenow, maybe office 365 and those are the largest major mat formplatforms. i think all those can be winning platforms. >> is there a benefit of offering peesotentially a suite products from one place? and if you start to see some of your competitors move into parts of your business, doesn't that represent a threat >> google was going to do social, google was going to do payments, facebook was going to do payments, amazon was going to do search. everyone was going to do the other person's thing and none of it worked out. being great at some things is better than being averag

. >>> i have gone for shares of adobe beating on eps and revenue and weak guidance. downgraded adobe from sector weight -- to sector from overweight ab down ubs did keep the buy rating and took a sort of different angle and a few differences out here only fearful of large m&a and strong competition is a factor and valuation not too steep for a growth company 20% growth so ubs -- >> had been a favorite. >> most people focusing on the key bank downgrade. >>> we have breaking news now out of washington. kayla? >> reporter: sara, president trump issuing the first veto of his presidency this veto was just signed moments ago in the oval office in essence a block of congress's attempt to block his national emergency that he issued just one month ago. this will send the effort to block the national emergency diversion of funds back to the house. the house is not expected to have enough votes to override the veto but certainly is an important measure of the president's campaign priority of building this border wall. we don't know where the funds come from and expect to hear more from the pres

report financial results today -- oracle and adobe. other notable earnings include dollar general, broadcom, docusign and ulta. here's on wall street the dow gained 148, the s&p 19, and the nasdaq gained 52. >>> federal prosecutors are conducting a criminal investigation into large technology companies. companies including apple and amazon entered into partnerships with facebook, gaining broad access to the personal information of hundreds of millions of facebook users, sometimes without consent. facebook says it's cooperating with investigators. it comes as facebook grapples with the largest outage ever. >>> investigators now say power lines sparked one of the largest wildfires in california history. the fires that started in december of 2017 scorched more than 440 miles in ventura and santa barbara counties. a new report says high winds came into contact with southern california edison power lines. edison previously acknowledged its equipment likely started the fire. the fire destroyed more than 1,000 structures. at least two people were killed. >>> fiat chrysler is recalling ne

west texas for more than a decad building and repairing homes made of adobe, historically owned by marfa's majority-hispanic popuon. as adobes gained popularity with outsiders, the county raised property taxes on thmes, a move canovas says hits the wrong people. >>t's displacing mexican a mexican-american families. the loss is not only that these people leave. it's ao the cultural loss of the place. >> brown: the effects are feltel elsewhere as wl. oscar aguero is supentendent of the marfa independent school district. >> i have several teachers that live, you know, 30 miles iown the roadalpine, where it's a little more affordable. i did have one teacher living in presid driving the hour drive. >> brown: moreover, with marfa real estate prices so high, the school district is now classified by the state as being wealthy. >> we're paying nearly about a half-a-million dollars back to the state, that's coming out of our local funds, that i could bd using for our ts. >> brown: yes, i mean, because you don't have a rich population. >> no, we don't. you know, 76% of our students are econom

cloud names. i think it's a different period right now. i'm looking at adobe, i'm looking at salesforce. so i guess my point is one thing to say high growth, secular trends >> i think what you're doing is you're always looking for quality. that's where everybody starts. when you look at the interest rates and look where we were thr3% now we're at 2.4%. what does that mean? i think you look for quality the first ones you look for, you look for quality, free cash flows and dividend yields. >> give me some of them, then. >> i looked through my list right now of what i own stockwise, scott almost all of those fell in the category of they have growth, they have a dividend yield, they have quality target, home depot, lowe's kinder morgan. so you're still exposed somewhat to energy. >> but home depot and lowe's are exposed to a slower economy, the housing market that's been -- >> if you believe that i mean we are weakening a little bit in the economy, but are we slowing to a stop? no do i think the spring season will be strong yes. i think we'll see home depots and lowe's outperform. >> i thin

today. first up, shares of adobe have the biggest drop since december after a profit that missed wall street projections. bet up, fourth-quarter sales projections by coley cosmetics -- kylie cosmetics. deals are poor, infrastructure spending is one of the few things in washington everyone can agree on. with more projects getting they are start -- they are ready to get started. he spoke with jason kelly about the opportunity. >> infrastructure is an interesting space. there are a couple of things that are driving it. one is on the macro side and there are strong drivers. the energy transformation, so -- there arey micro drivers and when you think about the u.s. specifically, there is a survey i like to look outcome of the american society of engineers, they do a rating of infrastructure quality every .our years and we are at a d+ that is an upgrade from i think we were indeed before that -- a d before that. bring our infrastructure up to gdpl that helps support growth long-term. abouthave been talking opportunity for a long time. the current administration has said $2 trillion, whateve

. fedex was a miss by 2% or 3% look who beat. autozone beat. costco beat. adobe beat oracle beat. general mills beat and the average beat was by 9% this -- they're beating by much larger this includes fedex's miss my point is we got these numbers for the first quarter, cut to pieces at the end of the fourth quarter. the analysts came out panicked and cut all the numbers. i think they cut so much that we may be getting bigger beats than anticipated out of the first quarter. i know fedex was a miss. i'm aware of that. i'm trying to look at everybody else besides federal express and see what's going on. the cope here is that you beat and your guidance is not as bad as what you gave in the last quarter overall. so we have been talking about micron this morning. here is a good example a lot of similarities with fedex here even though they're different businesses, china and europe is a big part of the overall package from fedex and micron. just like fedex, micron gave generally lower commentary in november and then in december they gave q2 guidance below forecast now, q4, the stock was

leadership and trying to encourage where we should go, think about adobe and salesforce , think about marketers spending thoseon advertising -- thinking differently will allow them to keep growing and meeting their objectives and control their costs. agencies will find ways to support services whatever the the market thinks best. francine: give me a sense of whether a lot of these big tech companies will be broken up. there is more demand in europe. this is on data privacy and things like that. in three years, will facebook or google look like it looks now? brian: that is something we have to watch. if you look at the regulatory environment in europe, there is pressure for that happening. from a marketers or advertisers perspective, you can be somewhat indifferent about whether a seller or supplier of inventory is consolidated or not. the chances are good that there will be more regulatory action rather than less, in the future. francine: what does it mean for u.s. regulators? are they just trying to catch up with european ones? brian: it is the case that the europeans are taking the

china industrial production numbers, expect a lot more stimulus out of china adobe and oracle the first large companies to record first quarter earnings if we get decent guidance from them, that's important the chances that the first quarter will see negative earnings growth for the s&p 500 as a whole will be greatly reduced. you can look at the market leaders today. good to see apple leading. highest level since december 3rd at 183 banks up with j.p. morgan and citigroup leading. the little engine that always can. visa, historic high. again, up 17% so far back to you. >> robert, thank you very much >>> the markets have been on a very nice run this week. can we keep going higher from here bob pisani outlined a little bit that goes into it. let's bring in our contributor michael and joe duran, founding partner of united capital. question on the table, mr. farr. can the market move up from here meaningfully >> yes, sir. i think it can and, you know, i'm always very cautious about the markets, tyler, but i think we saw confidence in the consumer really swoon in december and a lot of

in many places in tech >> but you can find it some places i think of salesforce, adobe who they're increasingly competing with in experienced cloud. i wonder how choppy it gets as the competition heats up. >> worth noting even though the stock is down, it is up 14% year to date in the broader rally in the market as well >>> meantime, democrats set to unveil a bill today introducing a new fee on financial transactions ylan mui is in washington with more on that proposal, what it means for wall street. >> reporter: this is aimed as hi frequency trading. it is causing a lot of big swings in the markets. to reign in the industry, they would impose tax of ten basis points on all transactions of stocks, bonds, derivatives any transaction in the u.s. or involved citizens. the only things exempted are initial issuances and short-term debt, less than 100 days of maturity in a statement, shots said wall street booked record profits from high risk trades that made the market dangerously vulnerable he said the bill will discourage risky volume based trading the proposal is drawing big name bac

negotiation. bunch of earnings out, february earning companies, adobe, broadcom, oracle, that's all tomorrow they can move the markets. friday, we have the quarterly expiration of index options and futures and individual stock options and futures. and then next week on wednesday, we'll get the fomc decision. speaking of quadruple witching, there has been a tendency for it to be on the upside for the week of the quadruple witch, this is my old friend mr. hersh over at the stock traders almanac since 1983 these weeks where you four times a year have the quadruple witching, up 24, down 12 times, interestingly the following week tends to be slightly to the downside so you tend to be flip this around and you're generally down in the following week after that you put that up there, 26 times and only up 10 of the times. so there is good and bad associated with this what is important is that we'll get a rebalancing in the s&p 500 on friday. there is a lot of companies heavily involved in buybacks a political issue now. we'll see share count reductions and big companies because they have bee

smash them now he has something adobe has something to smash sales force. >> that was -- i remember you and i were together that day of that warning. it was not an -- >> it is bad >> percentage of revenues, miss was enormous. >> incredible. >> a lot of people wondering how and yet now the stock has -- >> it is coming back they have the melinox was brilliant. getting closer to the touring being used, which is life-like when it comes to gaming. they get you hooked, then they take you off. >> when i think of juul, i think about what i think was perhaps one of most interesting if not significant deals of the recent time, which is altria's decision to buy 35% without a path to control, valuing the company at $38 billion or close to that, amazing. >> you get the wrong fda guy he shuts them down. >> it showed just how desperate conceivably big tobacco is >> now you meet with the juul people what they'll tell you is we're the way out of tobacco you can't use the patch. you get away from the combustion part some people say it is a nicotine delivery system. they say, look, they have been the

bloomberg tech up, this is bloomberg. ♪ emily: adobe is broadening its strategy to win over more corporate customers. the company announced a new software system called experience platform. it'll unify business applications that have been through different acquisitions and it will connect them from new apps from third-party developers and other programs. they will be acting as a hub for data. first responders are quickly learning how challenging it is to stop electric car fires. a deadly crash in florida keys in florida teaching place that fire extinguishers will not work and water is not even a sure bet. there may be only two ways to put out a lithium-ion battery higher. chester has the story from detroit. testre focusing on this the carr fire in florida. what happened there? -- tesla carr fire in -- tesla car fire in florida, what happened? >> once the fire department arrived on scene and ousted, the vehicle caught fire again to more times as it was being towed to the lot. it just shows you that when you're dealing with electric powertrains, it is a completely different situati

, and wings, and three different cliefz sliders. i haven't tried the adobe yet, but just smelling it yet brings back home and a ton of memories. >> the binca is made out of different ingredients, including cheese. but here, we put a twist on it. why not have nutella, rocky road, we have blue berry. we're not just limiting it to just the classic with salted egg and cheese. >> we try to cook food that you don't normally find from filipino food vendors, like the lichon, for example. it's something that it took years to come up with, to perfect, to get the skin just right, the flavor, and it's one of our most popular dishes, and people love it. this, it's kind of me trying to chase a dream that i had for a long time. when i got tired of the corporate world, i decided that i wanted to give it a try and see if people would actually like our food. i think it's a wonderful opportunity for the filipino culture to shine. everybody keeps saying filipino food is the next big thing. i think it's already big, and to have all of us here together, it's just -- it just blows my mind sometimes that there'

is a closure highway 12 in both directions between adobe canyon and hawk road because of an injury action. >>> here is mary lee with your forecast. >> are you ready for sunshine? we have it later today. enjoy it. th evening. eak ugin a are iny i will show you this on futurecast in a moment. here is a live look at our salesforce sales camera with temperatures in the 40s and 50s. livermore is 49, 50 in san francisco, 52 in san jose and santa rosa is 46. here is high def doppler. it is drive for the most part. we are tracking for showers along diablo range. that is pretty much about it. it is mainly dry today with a few showers but it really gets going tomorrow with the rain and the rain wind could see an isolated thunderstorm. showers continue on thursday. it has been a wet start to the year. so far this year our rainy days in san francisco have been 42 compared to seattle's 39. we have been wetter than seattle so far this year. we have more rain on the way. we are tracking our next storm system that will bring more rain for us beginning tomorrow. this is really just a winter weather

again. you can see it around petaluma and pen grove. bodega avenue, adobe i road. all the streets there could have visibility down to less than a mile from time to time. please belejump camera. it's pretty quiet outside. much cooler temperatures. dress warmer, 40 to 45. even some 30s. mid to upper 50s at no0s at the. there's a slight chance of a shower at the santa cruz mountains this afternoon. alexis? >> good morning, mike. just believe i saw a crash clear to the parking lot at the bay bridge toll plaza. it's within the maze here. i believe it's gone. i believe it cleared from the board as i was walking up. i was looking to see if they told us that the metering lights were up. it sure looks like it. if i had to bet, i'd say they're on. carpool lanes are open. if you are using those this morning. westbound 580, tracy to dublin. 49 minutes. not terrible. in the yellow out of the central valley. southbound 680 dublin to mission boulevard. that's the green at 15 minutes. >>> thank youa lexis. new san jose police are investigating an accident that left one person dead t crashed into

an upgrade this morning and mylan between 2% and 3% increased. microsoft, adobe, paypal with biggest negative point impact on the index and amazon, facebook and apple with the biggest positive point impact here today. back over to you. >> okay. thank you for that. >>> let's dive more into the markets. samantha zamarelo is with us what's your take on the latest pullback was that due given the good news that's priced in >> the sentiment has been all over the place and then volatility all over the place. if you look at what valuations have done this year, basically all of the valuation contraction we saw in 2018 is recovered. in em and in the u.s so that means all of the news has been priced in. >> what takes us where next? >> i think it goes back to washington so i think the same theme as last year if trade tensions simmer down at least optically i think that means that the u.s. market can rally and the dollar could weaken a bit and international could do well. >> with a trade deal with china? >> yes. >> you don't think that's already priced in? >> i think the majority of it probably i

put it. >>> oracle reported last night along with adobe. both of them are under significant pressure, in both cases disappointing guidance on revenues for the rest of the year. >>> now to this. israel retaliating, striking 100 targets in gaza after rockets were fired at tel aviv. three weeks before israel's elections. secretary of state mike pompeo heading there next week. we are on top of that story. president trump says quote, the potential is unlimited when it comes to a trade deal with the uk. i will talk to someone who has advised the president on trade and what type of deal would he want. >>> plus, a top military official says google's work in china is quote, directly benefiting china's military. the question, google is okay helping the chinese military but not ours? you can believe we are on top of that. you are watching the second hour of "varney & company." charles: take a look at the big board, accelerating its losses to the downside, off 30 points. check ulta. my goodness. just a juggernaut. the company hit a record high just after they beat and you can thank kylie jenner

a lot about that. earnings from adobe and broad com and or cal and finally, we've got the quadruple witching expiration tomorrow if quarterly expiration options and futures and maybe partly responsible for some of the little rise we're seeing here in the mid of the day fomc next week back to you. >> all right, thank you. it has been a rally this week. s&p 500 up more than 2.5% in just the past three days nasdaq up about 3.5% would have been more had it not been for the negative impact of boeing but jeff gunlock says the stock market was and is in a bear market and the stocks could go negative again in 2019 is he right or will we go higher from here? let's bring in steve grasso, art hogan, gentlemen, great to have you. art, you say we're sort of range bound. >> yeah. feels like we're sort of the 27502800 level we've bounced off the 2813 four times and it's always been resistance it's hard to know that we've got much more gas in the tank until we find out about china trade and brexit and both we'll find out about, but it's just not going to be this month so as we look at the drivers f

declines. what is the catalyst that gets the market through this area? >> i'm looking at adobe earnings and oracle. those are two huge key names and hoot industries f those companies can report really positive earnings, that could be a cat activity overnight to shift the market higher and break through that area of resistance. charles: todd? >> todd, i don't see a lot that pushes through. i think most of the good news is priced into the market. on very light volume. our volume is down 30% from the fourth quarter. we priced in good news out of china. good news everywhere. we are seeing momentum. we're not able to pick up volume and enough energy to punch it through the top. i say we continue to move higher and might drip into new highs. until volume an volatility come into the market i don't think we explode higher. if anything i think we break to the downside. charles: todd, i mean scott, it does feel like a coiled spring. hard for me to see us drifting through this, this wall of resistance just because it's been so firm for over a year now and so i am wondering because if we stay here much

play for no other reason than that. >> jon, for mark in cincinnati, adobe, what do you do before the earn jgz. >> hold it somebody on december 24th, scott, bought a whole bunch of upside calls at the 215 strike with the stock trading 208 it's 60 points higher right now. they haven't sold. i'd stick with it. >> well, you all know we're all about trading on this show which is why last night's blockbuster move by the giants to send their star receiver odell beckham deserves debate on the program mike frances is is the long time host on wfan where it's been burning up the fines mike, welcome back. >> how are you guys? nice to talk to you. >> you as well holding up the back page of "the post." what have your reaction to this? >> i'm surprised they actually made a trade because it's very hard to get equal value for someone you are paying that kind of money to so when you got the contract, i thought it would be very hard to trade him and the giants have to digest a lot of dead money against the cap which a lot of general managers don't want to do but i think this was just he had worn out hi

happen, a lot of the growth stocks are due for a pause. if you look at software names. adobe we saw begin to churn around, we saw nike today after hours. a name like keys, a 5g play has been red hot and screaming those stocks will be get set for a pullback and pause. >> does that mean you think the s&p 500 won't recapture its previous record? >> i think it will churn for a couple of months before it accelerates for the second half of the year. >> if you look at the treasury yield curve and the parts that have not moved as much, do you think the yield curve could strengthen again would that change your view on anything here? >> my guess is it's going to take some time before it starts steepening again we don't have any evidence of that technically yet as we move into the second half of the year, a lot of our concerns about the economy slowing down, earnings slowing down, that's all going to get reflected in the stocks. the curve starts steepening and you'll probably want to go back to more cyclical names. >> like banks. >> and even the banks. we've still got to get into this churn pe

were expecting a decline of 1%. those shares off by about 3.5% adobe systems posting better than expected first quarter results after the company's results were helped along by growth in its digital media business, which includes brands like photo shop. shares are down right now after the company said second quarter revenues will likely come in below analyst estimates. they're down by 2.5% ulta beauty's fourth quarter results beat forecasts they rose more than 9% the retailer says the launch of kylie jenner's makeup line drove strong traffic to stores attracting more young and diverse shoppers those shares, it ulta, again, the exclusive partner for kylie cosmetics. they're up 4% in the premarket trade. >>> in other corporate news uber is reportedly planning to kick off its ipo next month reuters said the ride hailing company will launch its road show in april. the ipo is expected to be one of the biggest tech debuts ever the "wall street journal" says uber's ipo could value the company at $120 billion. >>> well, coming up next, leaving facebook a pair of high level departures to

offered by her employer, software firm adobe. >> and by the time i went back to work, i was ready. i was prepared. i had some time also to think about here are some of goals and here's going to be my new normal as a working mom. i feel completely grateful, but i really wish this was the norm. >> reporter: only 16% of americans have access to paid leave through their employers which is why so many women need to secure infant caren weeks of giv birth.slg t change that. >> there is a crying need. >> the democratic sponsored family and medical insurance leave act would give workers 12 weeks of partially paid leave funded by a payroll tax. >> i'm not in favor of mandating this. >> reporter: republican senator marco rubio is taking a different approach. >> it's an option that people can use to sort of draw on their retirement savings from social security early but it's certainly better than having to max out your credit cards or going on public assistance and leaving work which is what a lot of people have to do. >> reporter: it sounds like you see this almost as sort of an emergency situation

we'll tell you why the stock is falling this morning next. >>> later, our exclusive shoe with adobe ceo shantanu narayen. big hour ahead stay with us i can't believe it. that we're playing "four on four" with a barbershop quartet? [quartet singing] bum bum bum bum... pass the ball... pass the rock.. ...we're open just pass the ball! no, i can't believe how easy it was to save hundreds of dollars on my car insurance with geico. yea. [quartet singing] shoot the j! shoot, shoot, shoot the jaaaaaay... believe it! geico could save you fifteen percent or more on car insurance. (butcher) we both know you're not just looking for pork chops. you're searching for something more... ...red-blooded. right this way. you thirst for adrenaline, you hunger for raw power. well, you've come to the right place. the road is yours, dig in. >>> elon musk unveiling tesla's new is addition to the line, model y last night a crossover suv with a starting price of $39,000 production, however, won't begin until late next year but musk has high hopes. >> the value of manufacturing is underappreciated it is like rela