the brand new ceo of nike. so great to see you and congratulations on the job. >> thank you, thrilled to be here with you. >> so this is your coming out party. what do you have to tell investors about yourself and the way you're going to run this company? >> well, i'll tell you, it's been one month in and it's been spectacular. two things really stand out from the first month. i was just saying to you i spent my first week at nike in china and japan getting a chance to see firsthand the incredible connection nike has with consumers. not just here in the but all over the world chinese consumers, japanese consumers, deeply connect with nike's product and with the brand and what it stands for and then the second thing that stands out and coming from tech you know how much i love innovation, nike's commitment to innovation is unlike anything i've seen in my career i've spent full days with our design teams and innovation teams and product teams and the breadth and depth and commitment to innovation is simply specta

we'll tell you why >>> plus, check out nike soaring 4% on two big analyst calls. matt boss will be b here to tell us why it is his top pick and lat later, we'll crown our stock draft champion it is the mets pitcher, noah sind gaarde running away with the hit. why not. "power lunch" starts right now. >> the markets are higher this afternoon, but well off the highs of the day when the dow was up b about 40 pau points up about 150 as coronavirus fears continue to grip wall street oil briefly sinking below $50 a barrel now down whopping 17% just this year that move is taking down energy stocks well. the worst performing sector, energy is now down 12% for more on the rebound in the stock market and what's driving us high er after friday, het's g to bob at the new york stock exchange >> so good to see you back always a pleasure to see you so listen, we're up today holding on to modest gains here's the s&p 500 the coronavirus headlines are mixed. low mortality rate, but we don't know what the infection rate is. we're holding u. you notice this move up here very good manu

tune in to that special report on the coronavirus as well let's get to eunice yoon, live in beijing nike is the growing list of companies adding to concerns what else can you tell us about the business impact? >> reporter: right now, the focus here from the chinese health officials has been on the race to try to find a drug treatment to fight the virus today, the national health commission released revised protocol and hailed help and arrival of an anti-viral drug that has proven to be successful in the united states this drug is being tested on patients now in wuhan. the epicenter there had applied for a patent to use it there saying that the u.s. has indeed sent some supplies to wuhan. those have arrived confirming that the u.s. has sent experts as part of a world health organization group. adding that china is now at a critical or crucial stage in this effort to try to prevent an epidemic from getting more out of control president xi jinping had said this is now a people's war against the virus and said that this is going to be a test for governance here in china >> thank you live fro

nike is the feds to record the call. here is one with avenatti threatening to take nike stock unless they paid him. >> a few million dollars, if that is what is contemplated let's say it was good to meet you and we are done. i will proceed with my press conference and take $10 billion off the market. >> reporter: former targets are getting revenge. nebraska senator ben sass who avenatti called a moron who knows nothing about the law put out this statement, quote, michael avenatti is a d list attorney but grade a scumbag, harm to get airtime from the slammer. nike's witness cable television's loss. and the end michael avenatti wasn't a real attorney, just played one on tv. the defense claimed he was only being aggressive or presenting a coach who lost a nike sponsorship. sentencing is scheduled for june 17th of his lawyer says he will appeal yet there is more. in april, charges he defrauded daniels of book proceeds and in may '36 counts of stealing clients money including to buy a jet to support his racing team. >> harvey

at the time was representing a client who wanted nike to restore a canceled sponsorship but they used basketball program. the prosecutors say that client was unaware of his extortion scheme. in a conversation secretly recorded by authorities, will nike's lawyers to pay up for he was going to create a p.r. nightmare that would damage the company's stock price. prosecutors say he launched the shakedown scheme because he was more than $15 million in debt. his lawyers may not try to portray him as simply an aggressive attorney. they use nike's own slogan telling the jury and i quote "he went in there to just do it for a client." at the end of the day, the jury didn't buy it. a three count conviction could get him as much as 42 years behind bars. in his legal problems are not over. he faces two more trials, another one in new york for allegedly stealing from former client stormy daniels and there is a separate 36 count indictment in california for embezzlement, tax fraud, and bankruptcy fraud. prosecutors say some of the money that was stolen from clients went for a number of things includ

while jp morgan added nike to its pull back list nike finished the day up more than 3%. and j.p. morgan says we have a quote multiyear buying opportunity on our hands do you buy that call >> nike is expensive but it should be. i don't love when a multiple expansion is part of the bull case, right. but it is -- i mean, they've really done an extraordinary job. i think we might have a chance to get in at a better price. if this were your only chance to get in tomorrow for the next however long, then i would say buy it >> in this environment, people are going to say that might be expensive. i understand it's pulled back from 107 to current level so they're playing a game of stock market here. i'm with karen on this one, if you get a move lower in the broader market, nike is not going to be insulated from it. >> he's flagging the fact it did pull back 9% and traded up 5%. so is the benefit or the pros to buying it, are they cut in half now? he's talking about multiyear ability to buy this thing. just judging for a trading ability, already gave up half of the gains he was looking for

> he took the job >> this is by nike nike's barely down this is by nike. this is also something we have to talk about. there are stocks on the ticker underneath and fuel cell, virgin galactic >> power again, right? >> yes, so i mean there's a level of bubbling of belief that you know what? if we don't want to buy chinese stocks, we can go to the moon with virgin galactic those are usually bad signs but we're in a market where if you say that, you're a killjoy killjoy trading down >> these guys filed on friday quiet little for a long weekend for 31 million shares in s1. >> david, why wean bring that up >> i don't know. thought maybe people would want to know. >> why are you letting the facts get in the way of an incredible story. there is a level of optimism here, carl, that is out of sync with what you might have felt monday with apple, and also a degree of -- what's really ailing apple it's hard to get a hall pass to go outside your house. when i see the streets of beijing empty and story in the financial times how hard it is to get workers there i find i

that's helping the gains and trader's take on nike is coming up right after this. >>> nike rallying for a second day in a row after bmo initiated coverage analysts calling it best in class in north america will its run continue? let's bring in the trading nation team. steve, what about the coronavirus risk impacting china sales? >> look, coronavirus risk is real we don't know what impact it's going to have you know to simply chains at this point certainly demand in asia our general view when we look at these things is e we assume these are not end of the world scenarios and that we're talking about demand and production that's delayed, not destroyed, but it's something we're watchful of. at the end of the day, the story with nike has been the strength of the u.s. consumer and it's indicative of what's been a strong environment in the u.s. over the haas couple of years. >> jc, what do you make of the chart? >> well nike has been one of those charts where it has historically paid to buy pullbacks especially within the longer context of the uptrend taking place one way to find out whet

avenatti told nike he had a client, a coach who had damaging information about alleged nike payments to the families of young athletes. at trial prosecutors playing wiretapped phone calls. after nationalny threatening in one call, i'll take $10 billion off your company's value. i'm not, expletive, around. but nike already went to the fbi and avenatti through it all proclaiming his innocence. >> i will be fully exonerated. and justice will be done. >> reporter: avenatti still facing two trials for allegedly defrauding other clients out of millions of dollars including the one who made him famous, adult film star stormy daniels. avenatti allegedly pocketing $300,000 from her book advance. he's pleaded not guilty. that was in both cases. >> stephanie ramos with us live outside federal court. avenatti remains in custody, but as we mentioned a moment ago he potentially faces decades behind bars? >> reporter: that's right, in this case, he could face up to 42 years in prison. and he still has the two other trials this spring. if also convicted in those cases, he could face some serious tim

and i never thought it would be nike. [laughter] >> i see what you did there. >> every time he traded to target term, there was a blowback. the worst contestant. >> donald trump is a billionaire, he did not need to do this, he wants to make the country better, even before john f. kennedy they were saying we can beat the americans as long as we take hollywood, universities and the media. in my question, when will we get rid of these [bleep] [laughter] [applause] >> what about the stormy daniels, mike avenatti, blumenthal, the vietnam guy, no shame at all, they are out there proving, i don't get it. the guy that fought for the country, i do not get it. greg: i think you are mad. >> i am good. [laughter] >> don't try to shoot me. >> a lot of us were upset because we were persuaded. >> we have more stuff to come. don't go anywhere. [applause] greg: the story that took america by storm. or at least the media during a slow news day. but now you have seen this video, two passengers on an american airlines flight, one reclines th

and i never thought it would be nike. [laughter] >> i see what you did there. >> every time he traded to target term, there was a blowback. the worst contestant. >> donald trump is a billionaire, he did not need to do this, he wants to make the country better, even before john f. kennedy they were saying we can beat the americans as long as we take hollywood, universities and the media. in my question, when will we get rid of these [bleep] [laughter] [applause] >> what about the stormy daniels, mike avenatti, blumenthal, the vietnam guy, no shame at all, they are out there proving, i don't get it. the guy that fought for the country, i do not get it. greg: i think you are mad. >> i am good. [laughter] >> don't try to shoot me. >> a lot of us were upset because we were persuaded. >> we have more stuff to come. don't go anywhere. [applause] i'm your 70lb st. bernard puppy, and my lack of impulse control, is about to become your problem. ahh no, come on. i saw you eating poop earlier. hey! my focus is on the road, and that's

. >> reporter: 8-year-old nike could fill an album with family photos. but these special moments of holidays and vacations are with a foster family. >> we got him when he was 4. he showed up at our doorstep at midnight and we have had him ever since >> i thought i would never get adopted. >> reporter: but they didn't know if they could have him forever. not until monday >> at this time i am officially granting you adoption [ cheers and applause >> reporter: 300 people packed in a texas courtroom to see the family pledge to nike his second grade class, church friends, even a superhero, signed swag from his favorite football team, the dallas cowboys, and t-shirts merging the names of mom and david, david and kristi schwartz, and nike's love of "star wars." may the schwartz be with you >> it was very special. it was surreal >> reporter: the big event likely added a few new pages to nike's family album. >> you see, every one of those people in the courtroom is his family, he knows now >> awesomeness and awesomeness feels like happiness. happiness feels like

a huge source of strength for nike. growing double digits in revenues every quarter we talk to the new nike ceo tomorrow. >> coming up, the movers after hours. we'll be back in a couple of months you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice. but you're not mad because you have e*trade which isn't complicated. their tools make trading quicker and simpler so you can take on the markets with confidence. don't get mad get e*trade and start trading commission free today. woi felt completely helpless.hed and staonline.ing my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. >>> it has been a wild day for earnings a

unknown to avenatti, nike asked the feds to record the call. here is one of avenatti threatening to take nike's stock unless they paid him. >> a few million dollars doesn't meet the needle for me. if that is what is being contemplated, then let's just say it was good to meet you, and we are done. and i will proceed with my press conference tomorrow, and i will go take $10 billion off your client's cap. but i'm not [bleep] around. >> former targets are now getting revenge. revenge. nebraska senator ben sasse, who avenatti once called "a who knows nothing about the law" put out the statement. "michael avenatti is a delist attorney but a great-a scumbag. hard to get time from the slammer. in the end, michael avenatti wasn't a real attorney, he just played one on tv." trial defense claimed avenatti was only being aggressive or presenting a coach who lost a nike sponsorship. sentencing is scheduled for juns lawyer says he will appeal. yet, there is more. in april, come charges that he defrauded book proceeds, and in may, 36 counts of stealing client

and i never thought it would be nike. [laughter] >> i see what you did there. >> every time he traded to target term, there was a blowback. the worst contestant. >> donald trump is a billionaire, he did not need to do this, he wants to make the country better, even before john f. kennedy they were saying we can beat the americans as long as we take hollywood, universities and the media. in my question, when will we get rid of these [bleep] [laughter] [applause] >> what about the stormy daniels, mike avenatti, blumenthal, the vietnam guy, no shame at all, they are out there proving, i don't get it. the guy that fought for the country, i do not get it. greg: i think you are mad. >> i am good. [laughter] >> don't try to shoot me. >> a lot of us were upset because we were persuaded. >> we have more stuff to come. don't go anywhere. [applause] you'll be surprised at how easily starting small... ...can lead to something big. start stopping with nicorette a lot of folks ask me why their dishwasher doesn't get everything clean. i

and i never thought it would be nike. [laughter] >> i see what you did there. >> every time he traded to target term, there was a blowback. the worst contestant. >> donald trump is a billionaire, he did not need to do this, he wants to make the country better, even before john f. kennedy they were saying we can beat the americans as long as we take hollywood, universities and the media. in my question, when will we get rid of these [bleep] [laughter] [applause] >> what about the stormy daniels, mike avenatti, blumenthal, the vietnam guy, no shame at all, they are out there proving, i don't get it. the guy that fought for the country, i do not get it. greg: i think you are mad. >> i am good. [laughter] >> don't try to shoot me. >> a lot of us were upset because we were persuaded. >> we have more stuff to come. don't go anywhere. don't go anywhere. [applause] is that net carbs or total?... eh, not enough fiber- chocolate would be good- snacking should be sweet and simple. the delicious taste of glucerna gives you the sweetn

>> we should talk nike nike downgrade. >> talk to me. >> it was fine if it was just china but if western europe takes a hit you're left with the united states. this is a new ceo. i'm sure he's up to the challenge but holy cow, nike has been hanging in there by people who think it's inbearable. >> you said this morning, i wrote it down -- see, i told you i listen to everything you say on that show this will be the correct one, maybe in the 80s. >> it's not the 80s. >> you don't buy it here is your point. >> cancel the listenics, that's pretty bad. >> seriously, though, not yet? >> reporter: no, not yet i just don't think -- i think there's too much enthusiasm for nike people feel no matter what, it has the right portfolio. >> you feel it got pretty stretched, too, though it ran up there. >> ran up there so fast, pe levels became intolerable. then there's an opportunity. you said '80s. >> people feel the ministry of sports, chinese -- whatever. >> i think nike is tough you have both supply chain issues there and 38% of their ebit coming from china that's going to be really hard seems high.

coronavirus, an innovation event nike is holding around the olympics, and i would throw in macy's to the mix because some significant announcement there in terms of store closures and leaving cincinnati as the headquarters also having to layoff about 2,000 in corporate staff >> continue to open smaller store formats though not a lot of them but some >> that's kind of away from the mall and the department store. interesting share price reaction there on macy's. i was going back and forth with jan nippon who follows retail and he said this is great news they are preserving the cash flow, preserving the dividend which is very high and cutting a significant amount of costs. on the flip side doesn't look like department stores are coming back any time soon and the pain continues and they'll try to right size their business accordingly. >> talking to the journal yesterday, said that there remains a place to go shop where there are multiple brands. >> they have to convince people of that. customers and investors. i think that's going to be the key. >> you don't believe it? >> i mean, if you

for adult film star stormy daniels, who famously took on president trump, convicted of shaking down nike for millions. political interference? one day after the attorney general publicly rebuked him, president trump argues he has the legal right to interfere despite the tradition of an stice deent justice department. plus, the a.g. launches a review into the criminal case against the president's former national security advisor, michael flynn. coronavirus crackdown: china goes to extremes to control the outbreak as masks there begin to run out, while here in the u.s., the c.d.c. races to set up new testing at labs across the country. murdered by a neighbor? new details tonight in the disappearance of a six-year-old south carolina girl. did her killer live right down the street? resting their case: prosecutors tear into harvey weinstein as they make their closing arguments. tonight, the movie mogul's dramatic reaction in court. held by police: new video of a six-year-old removed from her school after an outburst, forced to stay in a behavioral facility. why even the officers who took her

and t-shirts merging the names of mom and david david and christy schwartz, and nike's love of "star wars." may the sports be with you >> it was special, surreal >> reporter: the big event likely added a few new pages to nike's family album. >> you see every one of those people in the courtroom is his family he knows now >> awesomeness and awesomeness feels like happiness happiness feels like joyfulness. >> reporter: and a first official picture of what home looks like catie beck, nbc news >> and thank you for staying with us. i'm cori cof >>> i heard, like, someone got sexually assaulted here. and it's like, wow, it's just terrible. >> right now at 4:30, a terrifying attack inside a bay area gym. a live report with more on what unfolded during a zumba class. >>> mangled messes. two overnight crashes. the investigation into what went wrong. >>> and working to house the homeless. the action gavin newsom is making to help. >>> thanks for joining us. i'm laura garcia. >> and i'm marcus washingt

on all three counts on the nike extortion trial. in the newsroom with the details, christina. >> all three counts for trying to extort like you mentioned nike for up to a $25 million. the prosecutors here in new york argued that michael avenatti threatened to go public with alleged evidence that nike arrived amateur best ballplayers. that was the most nike paid michael avenatti millions of dollars. and through all of this michael avenatti claimed to actually trial and said he had no idea about michael avenatti plan. servicing on the screen right now, and as you mentioned, it may sound very familiar. because he is the same who represented porn stars storming with the president. neil: , all three cassidy was found guilty on, he still at this point faces two additional trials. so allegedly stealing storming daniels, to the tune of $30000 and many fraud in california against millions of dollars involving other crimes there so those two trials are still slated for april and may and right now though fee faces up to a combined 42 years in

in ceo of american apparel and footwear nike and underarmor there. supply chains are a key focus, how much are industry groups and companies there trying to adjust or trying to shift >> coronavirus is reminding us what we already know we are very interdependent we sell a lot in china but also produce a lot in china and around the world we use and push in china as long as the coronavirus crisis persists, this will be a real problem causing a lot of concern for a lot of our members. >> companies are trying to forecast what it is going to be like how much of this is about a supply chain issue how much of a concern, if you will, about a loss of demand in china, adidas sales are down 80% in the region. the biggest concern is making sure workers are safe. you you are seeing factories taking a long time before they start back up again. factories are making sure they follow all of the rules making sure they have enough masks. if you've got 5,000 people working for you. that's 5,000 per day, 30 days. all of that on hand before you open back up again making su

you have a smaller company with underarmor nike is global the global reach of nike is quite strong given the fact that global accounts for large percent after sales. fashion show was well received last week that will make them grow and gain share. >> when you look at retail more broadly, what do you think will happen here in 2020? the biggest risk that maybe trade war is off the table >> when i think of innovation, speed and data to have consumers say, i'm driving to you now. companies like lulu, they continue to learn. amazon is delivering speed dispointers continue to win. don't cut out the strength of luxury players the other one that could see newness from, you have turn around stories like amber krom by and finch where it is not getting worse and some some terms getting better >> we need it to get better. >> me too. we need a win. >>> that will do it for us this morning. "squawk box" begins right now. sfloo good morning, the death toll from the coronavirus topping 1,000. discussing testing vaccines on animals. >>> earnings alerts with numbers from hasbro, and other markets >> a judg

i'm sure nike has patents on all this. what is to stop under armour or adidas, we need to make better shoes? it would be like an updated tennis racket if that were the case. >> i was down interviewing somebody in for "fox nation" interviewing wilson, that they don't change it so much that they change the game of football differently. they have parameters on the shoes can't go past 40 millimeters on the souls. they're doing it right. they're changing but doing it right. connell: tom brady standing next to you, take a little air out of that. >> exactly. a lot of air. connell: it will be fine. commercially does it matter? these will probably be because of all the buzz popular shoes just for regular people? >> they're not best looking shoes, i'm going to be honest. connell: that's true. you're more the fashionista is not cool? >> if they help me run a marathon they can be floaters on bottom of my feet. that would be fine. connell: they are weird looking. good to see you, abby hornacek. melissa. melissa: dunkin' donuts going be

former attorney for stormy daniels has been found guilty on all counts in the case involving nike and his extortion of the sports gear giant for $25 million. prosecutors argued that he threatened to use his fame to stage a press conference and publicly claim that nike executives were corrupting college basketball by funding money to young players and families unless he was paid to conduct an investigation himself. joining me now, nbc's tom winter for the latest. he gave the latest the day that michael avenatti was arrested quite unexpectedly. tell me what happened. >> what happened since the day when i sat with you and came in here that he had literally been taken in custody on the west side of manhattan, charged in two additional cases and that case that day, the initial arrest, the case is resolved and the manhattan jury convicted him on all counts tied to the nike extortion scheme. michael avenatti caught on tape on a fbi recording saying i'm not "f" expletive around with this and not playing games he told them. he said you know enough now to know you have a serious problem referri

unless nike paid him. his lawyers say he was just doing honest negotiations and they plan to appeal. >>> harvey weinstein's rape trial in new york is wrapping up. prosecutors presented their closing arguments today and the case goes to the jury next week. >> the fate of accused rapist harvey weinstein will soon be in the hands of the jury. during closing arguments, prosecutors said the former movie producer saw his alleged victims as disposabanle d pected them to come forward. attorney gloria allred represents one of his accusers. >> i have confidence the prosecution has presented the best possible case. >> reporter: weinstein is charged with raping a n in a hotel room in march of 2013 and forcibly performing a sex act on a woman in 2006. the defense claimed all sexual encounters were consensual, and urging the jurors to use what the defense attorney called new york common sense. she argued the prosecution failed to prove their case beyond a reasonable doubt. >> we feel good about where we are. this is a c

nike has been dinged. apple has been dinged. they don't have enough components right now in the pipeline to even make the airpods. tell me what you like that might have a little teflon around it. >> things that are more domestic in orientation have fared better and will probably continue to. so you know, some of the retailers here, target, best buy, companies that have a lot of business to asia and china in particular, that's where the questions are getting asked. they're the stocks that have gotten hit harder. i think the stocks that are up a lot, if we have a selloff, as you are postulating, possibly, those stocks will get hit hardest. some of the technology names, some of the software names, names that haven't done so well, perhaps some energy names that have a yield, can hang in there a little better, if we have a downturn. i don't know if we will have a big downturn. i come back to choppy and frustrating. liz: i have to ask about the ten-year yield. it's dropped about six basis points from just yester

of nike. when he gets to california they're going to be looking at pretty clear written documentation that i think is going to make it difficult for him to prevail. >> areva, thank you for weighing in. >>> let's get you back to the race for 2020. the eight remaining democrats are setting their sights on the more diverse contests in nevada and south carolina. joe biden, senator amy klobuchar, pete buttigieg are out west today, while senators elizabeth warren and bernie sanders are reaching out to voters in the carolinas. south carolina poses a specific test for the candidates courts african-american voters. with me now cnn political commentator bakari sellers, and cnn political analyst astead herndon a national political reporter. >> are you good? >> i'm happy to be here with you. too long, too long. >> i know you were backing senator kamala harris, and now you are one of these coveted undecided, maybe undecided, i'm about to find out, south carolina voters. where are you leaning? >> where am i

and nike says the epidemic will have a, quote, material impact on its china operations as it closed half of its stores in the country. various companies coming out with announcements of how this is impacting their business and

. >> thank you very much >>> up next is nike bringing sexy back? one firm says the athletic brand is succeeding where victoria's secret has long failed we'll explore. ♪ apps are used everywhere... except work. why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. to learn more, visit paycom.com >>> welcome back here's a taste of some other stories we're following today. bernie madoff is pleaing for compassion release due to terminal kidney disease. he's only served a little over a decade of his 150 year sentence. the bureau of prisons denied his request in december saying it would minimize the severity of his sentence >> i'm remembering the other bernie who was convicted of an accounting fraud involving world com. he served roughly 15 years of his sentence, was

he told nike he had a client, a coach, with damaging information about alleged nike payments to the families of young athletes. at trial, audio from phone conversations were played. but avenatti, through it all, proclaiming his innocence. >> i will be fully exonerated. >> reporter: avenatti still faces charges for defrauding other clients of millions of dollars. including the one who made him famous, stormy daniels. avenatti allegedly pocketing money from her book advance. >> avenatti remains in custody, but now he faces decades behind bars potentially? >> reporter: that's right, in this case, he could face up to 42 years in prison. and he still has the two other trials this spring. if convicted, he could face some serious time. >> stephanie, thank you. >>> we're learning more tonight after the 6-year-old girl was foi found in south carolina. vanishing monday after getting off the school bus. her body found in a nearby wooded area. police have also found the body of a man in the neighborhood. what they're now revealing about that. here's marcus moore. >> reporter: tonight a mother's heart wr

tesla now bigger than companies like mcdonald's and nike in terms of market value. ron baron still thinks tesla still has a lot more room to run. >> this year, tesla is going to do somewhere around $32 billion in revenues and i guess they're going to do 100 billion in four years and i think they have potential for a trillion within ten years. so basically, you're looking at the very start of what tesla, what's going to happen with tesla. this could be one of the largest companies in the whole world >> joining us now is collin rush and our phil lebeau. gentlemen, welcome i'm going to start with you, collin that was a pretty bold suggestion from ron that this company in which he has a large stake of more than a billion dollars, so he's a fan he thinks this company can go to a trillion in revenue in a decade do you see that? >> it's pretty aggressive and early to tell, but what we know is that they've been able to

of the company or hold a damaging news conference alleging nike made improper payouts to high school athletes on the eve of nikey's quarterly financial report. nike called in the feds who secretly recorded avenatti making his demand. >> a few million dollars doesn't move the needle for me. if that is what is being contemplated then let's just say it was good to meet you and we are done. and i will proceed with my press conference tomorrow and i will go take $10 billion off your client's market cap. but i'm not [bleep] around. >> avenatti's lawyer tried to 'portray him as aggressive attorney trying to represent an client upset with nikey's cancellation of sponsorship of a youth basketball program. following the verdict the attorney described avenatti's reaction. >> very disappointed as can you imagine. thankfully we have appellate rights we are going to exercise so you should expect an appeal. >> avenatti's legal problems are not over. faces two more criminal federal trials and a slew of allegations including embezzlement and tax fraud. ed? >> ed: david lee miller, thank you. that is

he went after nike. do you think he's the first person to try to extort nike and you thought you were going to win? >> greg: they'll make you fit the bill. >> juan: what you got to say, you are a lawyer. >> emily: this is an example of the squeaky wheel getting the grease. he was basically such a loud, obtuse person that somehow he was given all of that media in space. all of the time in the mainstream media, we hear words like him and his administration and this president is corrupt. they bully. the extort. that should be reserved for someone like this. that second trial you mentioned? that's a 36 count indictment. this is not a small, low level, gray area situation. this human is despicable. a complete embarrassment to my profession. and i think the fact he was given such a mouthpiece for so long without that vetting, he was like the emperor's new clothes within this lavish palace. he was seething from disabled people to buy a private jet because he was in debt $15 million and his defense attorneys lit

he was convicted today of trying to extort sportswear giant nike. correspondent david lee miller has details from new york. >> the jury deliberated for almost three days before convicting high-profile lawyer michael avenatti on three criminal charges including extortion and wire fraud. said he was unfairly targeted because of his representation of adult entertainer stormy daniels in lawsuits against president trump. prior to his recent legal problems, avenatti considered a run for the white house, becoming a regular on the tv talk circuit, appearing over 250 times on cable and broadcast networks. >> to me, you are like the holy saints. all places at all times. >> one reason i'm picking this as a contender is because of your presence on cable news. you are currently leading the pack among 2020 contenders among the democratic side. >> i think you do a hell of a job. i don't think you are in this for money. >> prosecutors tell that to be 29 demanded nike pay him as many as $20 million to conduct an internal investigation of the company, or he would hol

why what i come to you instead of nike for example? eddie: how's it going? first of all, goat is a global platform for style. our whole mission is to make our buyers globally just feel and look the greatest. 2015,e launched goat in my cofounder who is a lifelong sneaker enthusiast, his first pair of jordans was bought when he was 10 years old. releasedlater, nike the shoes so he went at the largest marketplace at the time which is ebay to buy the shoes. he bought them, receive them, took them out of the box and he was so upset because they turned out to be fake. how could this day in age you are spending $300 on a pair of shoes, is left of worry if it is real or fake? we said let's build a marketplace built on trust and safety. we pioneered what we call schip to verify which means whenever you buy something on goat, the seller does not ship to you directly. the seller ships it to one of our warehouses globally for us to authenticate. we use machine learning, plus human technology to authenticate the product before. we quality inspected and send it out to you

. >> speaking of dow stocks, nike got a downgrade from hold to buy, the firm citing stretch valuation, mainland china profit risk and currency head winds most of the street remains bullish. 75% of analysts have a buy rating on the stock. it was so interesting, mike, to see a downgrade for nike this is one that is beloved by wall street, but they do have to deal with coronavirus, both on the supply and demand side. >> sure, and the premium that got built into a handful of these ultimate winner consumer american brands. nike was one of them if you look at a longer-term chart, it is off the highs and i do think you have to ask the question of how much are you willing to give the benefit of the doubt to the great branded franchise and earnings power to continue on for a while. >> but like a lot of these notes on nike, especially when they take down targets like this, they say they're still the king. and the question is, is the market going to give nike a pass for a stronger dollar and weaker chinese profits? >> that's a great question and i guess my answer would be it's not that they'll g

nike is way on top today up 4.25%. got some double action by south side raised to a buy from neutral at ubs added to a focus list at jpmorgan helping propel the stock. most stocks are higher except exxon, verizon, and chevron. you can always watch us live on the go on the cnbc app down load it today "squawk on the street" will be right back our retirement plan with voya gives us confidence. they help us with achievable steps along the way... so we can spend a bit today, knowing we're prepared for tomorrow. wow dad, do you think you overdid it maybe? i don't think so... what do you think, peanut? nope! honey, do you think we overdid it? overdid what? see? we don't think so, son. technically, grandparents can't overdo it. it's impossible. well planned, well invested, well protected. voya. be confident to and through retirement. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, t

3, almost 3.5%, in terms of that exposure, it has the most revenue coming around china, followed by nike at 18% >> in terms of estimated 10% that's sourced from china, foss the leads that group followed by skechers, nike, and pbh, those numbers coming in, and in terms of the overall s&p 500, 500, possibly we're talking wynn, las vegas sands, macao, with hout corning, eees tee lauder >> i'm alonging at corning they bought more fiber to go to mars and back a cupping times. >> that's the play there it's fairly ragged, but i'm not, i'm not selling, another not getting in yet i don't feel like i have to make a distill. >>> for more tune in at 7:00 p.m. >>> still ahead, he's the candidate who built a career a wall street. why is mfind out why -- and later, director dr. anthony fauci tells us whether the coyne outbreak is on the verge of turning into a global pandemic >>> a check on our data tracker. sentiment coming in a bit weaker than expected. driven by lower rates, lower mortgage rates, the dodow wn about 132, 45 minutes left of trade. ♪you got to ac-cent-tchu-ate the positive♪ ♪ e-l

under armour has to fight that much - >> a duopoly between adidas and nike in my son's group it's nike. >> i think it's a tough space to be in china with the coronavirus. we have heard it from some of the cosmetics makers, l'oreal said they're saying a hit because people aren't shopping in the airports because flights aren't going to china. >> but their stop didn't drop 12% -- >> because there's much more than the coronavirus with under armour. >> get this research by yale and harvard suggested that exercise makes people happier than money. how much happier according to the study published in "the lancet," physically active people feel just as good as sedzentary folks who earn about $25,000 more a year. so i guess that says that -- >> that's why i'm not happy? not as happy as you guys are >> no. >> you're relatively happier than i am. >> my legally blond fans you know what i'm talking about. you come out and it's something you can control. you work out a little bit. you're sweating and glistening so you feel better about everything else. things seem a little less -- >> but also if you

investigation or he would hold a damaging news conference alleging nike made improper payouts to high school athletes on the eve of their quartly financial report. nike secretly recorded avenatti making his demand. >> a few million dollars doesn't move the needle for me. if that is what is being contemplated, let's say it was good to meet you and we're done. i'll proceed with my press conference tomorrow and i'll take $10 billion off of your client's market cap. i'm not [bleep] around. >> avenatti's lawyer tried to say he was aggressive. avenatti's legal problems are not over. he faces two more criminal federal trials and a slew of allegations including embezzlement and tax fraud. >> bill: he's losing a lot. thanks, david lee miller. thank you. medical workers treating coronavirus patients are now getting sick themselves and how is that happening? in a moment, how china, the u.s. and others are handling the outbreak. you'll hear from a doctor today that specializes in getting ready for the worse. fascinating man coming up. first, we had the first live interview with christina koch aft

convicted on charges and tried to extort millions from nike. the kind of charge is guilty, could land them in jail for decades. david lee miller has the latest, hey, lee. >> high matt, neil the jury deliberated three days with a high-profile lawyer, three charges of extortion and while fraud -- wire fraud. the jury was told that avenatti demanded athletic shoe nike pay $25 million to conduct an internal investigation of the company are arguing the damaged news conference that nike made improper pay outs to athletes with a financial report. his lawyer tried to portray him as an aggressive attorney simply representing a client with nike's cancellation of sponsorship of a high school basketball program. following the verdict, the attorney described avenatti 'action. >> very disappointing as you can imagine. we will exercise so you can expect an appeal. >> neil: and the legal problems are not over. he paces two more criminal trials in federal court and among the allegations, neil, there is tax evasion as well as embezzlement. he could be sentenced

porn actress stormy daniels in lawsuits against president trump was found guilty today of tr t from nike. prosecutors said avenatti wanted the money to keep silent about evidence he said he had involving misconduct by nike employees in recruiting college basketball players >>> there's breaking news about the first steps toward a deal end the war inan to afghanistan which could mean american troops coming home richard engel has late details. >> reporter: u.s. officials tell nbc news tonight a framework is in place to potentially end america's longest war. though it remains a fragile work in progress first, the taliban would have to implement a significant and demonstrable reduction of violence for at least a week the u.s. and the taliban would then sign an agreement. the u.s. drawing down troops from around possibly with more to follow since 9/11, nearly 2,500 american troops have been killed in afghanistan. president trump has pushed to pull troops out. >> we are working to finally end america's longest war. >> reporter: highlighting a soldier's homecoming at his state of the union. >> r

i will not into -- not get into the details of nike and disney. i want to point out what those companies represent. what they are saying is the endpoint to customers is half of nike stores in china have closed. what is not as obvious is the supply chain that gets disrupted to take the goods there. a good example of how the china story is affecting supply chain. take en day, it is halting production at its korea plaint -- plant. that is another one. macau, obviously from midnight, has shut 41 casinos, theaters, cinemas, bars, for the next 15 days. that is another thing. part of this,ead the casino operators agree not to request workers to take unpaid leave. . that is the silver lining. the other thing i want to bring up is because you are getting these disruptions here and there, and i will bring in the cruise ship in japan, companies are bound to run into cash flow problems. you are starting to see that play out in credit markets where yields are on the way up. and then you are getting spreads on top of your top-rated credit. it is really playing

but nike, joe? >> i still like nike i believe they can go to 110, 115. olympics coming this summer. a lot of positive information. >> lbrands, you just bought that >> yeah, last week and then added. >> $23 the price target. >> i still think this story can work in many different ways. you have an activist, separate the company. do asset sales can improve your cost basis. if you get a change in management, that's going to be a positive and i think they will. >> joe, lulu, this one is ripped they go perform on it, market perform. 231 the price target. >> sounds good to me stay with it they have the momentum international growth is fantastic. they're spreading to men's apparel. i like it. >> okay. final trade straight ahead ther? ther? you're in a no parking zone. oh, i... i didn't know. you didn't see the sign? that... that wasn't there when i was here earlier. (whimper) really? you know, in italy, they let you park anywhere. have a good day, sir. with geico, the savings keep on going. just like this sequel. 15 minutes could save you 15% or more on car insurance. (glass shattering) (fr

nike is the most counterfeit brand in the world and we are here to protect the buyer from that. >> you have mentioned shipping twice. your passing the cost on to the customer. decision-making to pass the shipping cost onto the consumer and not eat it yourself? >> because it is such a big value proposition, because their estimate counterfeits -- last year alone we prevented $72 million of counterfeits on the system. yes, there is an additional cost but i think for the consumer, would you rather spend $500 on a pair of shoes and have it be faked? or spend a couple extra dollars on shipping to make sure something is authentic? that is where they value our proposition. >> there is a big trend in the retail market called direct to consumer. how are you handling the increased wave of direct to consumer? primarily in are the secondary market -- they are primarily secondary -- we accept all forms of purchase. whether the consumer buys direct from a brand like adidas or nike or buys through a retailer like footlocker, the case is that for certain and adidas have shoes they release direct. these

microsoft,as, nike, these are your customers. give us some specific examples of how the technology is helping them. example is a client we work with that has over 4000 jewelry products. there is no way they could hire 3-d artists to re-create all 4000. they use our software to digitize their entire line and a 3-d assets across the web augmented in virtual reality. another example, we started a company with a turnkey hologram solutions with our best in class technology, and companies would cad filen 800-megabyte for the product. it is too big to put on your website, too big to put on a phone. that would take weeks of a 3-d artists's time to strip it down and make it usable. our software can do that in a few minutes. emily: the goal is to straddle the online and physical world. let's talk about the hologram -- again, something that for many, many years seemed futuristic. but as you say, may be closer than ever, if not here in some places. talk to us about how your technology works. ashley: right, so when we started the company, the

against president trump was found guilty today of trying to extort tens of millions of dollars from nike. prosecutors said avenatti wanted the money to keep silent about evidence he said he had involving misconduct by nike employees in recruiting college basketball players >>> there's breaking news about the first dial with the taliban to end the war in afghanistan which could mean american troops coming home richard engel has late details. >> reporter: u.s. officials tell nbc news tonight a framework is in place to potentially end america's longest war. though it remains a fragile work in progress first, the taliban would have to implement a significant and the u.s. drawing down troops from around 13,000 to about 8,600. possibly with more to follow since 9/11, nearly 2,500 american troops have been killed in afghanistan. president trump has pushed to pull troops out. >> we are working to finally end america's longest war. >> reporter: highlighting a soldier's homecoming at his state of the union. >> richard, you also spoke to iran's foreign minister about the air defense operator that a

prosecutors say he threatened to publicly expose it at nike unless he could have a probe of the company. they argued he was doing an honest and legal negotiation and he pleaded not guilty. >>> cbs reporter michael george has the latest from new york. >> reporter: the fate of accused rapist harvey weinstein will soon be in the hands of the jury of the we feel good about where we are. this is a case that should be about evidence, not about emotion or feelings and not a popularity contest. >> reporter: prosecutors said the former movie producer saw his victims as disposable and never expected them to come forward. >> the lead prosecutor in this case was at her very best. she was extra ordinary. weinstein is charged with raping a woman in a hotel room in 2013 and forcibly performing a sex act on another woman in 2006. all sexual encounters he said were con sensual. >> she argued the prosecution failed to prove their case beyond a reasonable doubt and she urged jurors to have the courage to say not guilty. during the week's long trial, weinstein did for the testify in his own defense. he cou