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welcome to power lunch alongside contessa brewer, i a tyler mathisen coming, up fourth quarter gt coming in much stronger than expected, but earnings continu to roll in we're hearing lots of profit warnings about the first hal that year, so, it will kind of economy do we really have, and what is the fed gonna do about it >> we've got elon musk and tesla being no guidance of the top, all that, of course worries wall street abou future growth. the stock. down about 10% today, 25% so far this year. check check on the marke stocks are higher and once again, you've got the nasdaq leading the way. you know, not, now it's off by two tenths of a percent. we've got the dow industrial about the same, s&p 500 up, yo know, pretty much flat toggle for taking place on the dow. ibm leading the way afte strong results, united healt pulling in the opposit direction. unh getting hurt by result from humana, the company's 202 guidance fell below the street expectations, which already ha been lowered after warning h manna down 23% so far this

year >> all right, let's get more o the mornings and expected to keep enough, or a three to 3.3 in the fourth quarter, compare to an expectation of 2% growth but that's looking back. looking forward, many bi companies have been offering weak guidance along with their earnings, so here you could se more than 20 big names including procter & gamble three, and netflix, like he, all the sort of cautious comments so, what kind of economy do we really have, and what econom to the markets want? let's bring in jeremy brian, portfolio manager a gradient investments, and our own mik santoli, cnbc senior markets commentator. mike, let me ask you first i, mean the markets must lik the fact of the economy seem strong in the recessio scenario increasingly seems to be getting off the table, bu it can't love the fact that so many companies are issuing warnings >> no, for sure, tyler i think ceos, first of all, ar seeing a little bit of a mixed bag depending on the secto there in it's a very noisy earnings

season, as it typically is and also, really no benefit, from their perspective, to ove promise this year, not reall knowing for going to get the economic slowdown everybod still plugs into their models, whether we've seen evidence of it so far or not we are still beating at an 80% rate the earnings forecast so, that's pretty typical this time of year the absolute growth rate, no wonderful, but probably stil tracking for low single digits year over year sales growth has been harder t come by. so, that explains part of th hesitation among companies t really extrapolate bette numbers. >> so, jeremy, the economy w have is the economy we've got. but we have the economy that the market wants, an particularly, in light of th fact that quite a few companie have either dialed back thei forecasts or warned? >> yeah, i still think we do i think this is not abnormal right? you come into earnings seaso in january, you have lofty

expectations of earnings, it was over 11% was the consensus for 2024 and companies come ou and say well, we are going t lower that part a little bit for the most fixated in future quarters and it happens every year, it' something we actually become relatively accustomed to, it's a silly game sometimes that we play, but at the end of the day, we still believe that gd numbers are there, jobs ar still there, growth is still happening, so, there's still a lot of positive things wit regard to the economy, i think just expectations coming int the year, we were just a littl over inflated, and we're starting to normalize that now amid the high single digit earnings is probably mor accurate than double digit earnings anyway, and in that case, if we still get there, s if we could backtrack for th stocks to work in 2024 >> mike, do you think that the analysts had maybe shrug it of the labor cost that we've seen and we've seen some big unio

contracts coming in at histori rates, and also, things like you know, we heard j.b. hunt a mentor to guest or day talking about how much of a hi there taking because o insurance costs. i know companies are going t be seeing those costs increase in their directors and officer insurance, and the property an casualty lines i mean, it's at the analysts when they're putting their expectations out, have bee sort of missing the mark o what these big cost inputs are >> i'm sure it's more about no having enough granular detai about whether the additional inflationary trend in th overall economy, the headlin that core numbers, are applicable company by company, sector by sector and you have to have a reality check on margins as you report but one other thing we might b seeing is a first couple o weeks of earnings season, yo have a certain sampling of industries, financials, and yo get a little more consumer, yo know, we have the very top heavy stock market right now the performance has been concentrated among the massive companies. that's also where most of th earnings growth is concentrated, and we have not really gotte

the reports from there yet, so i think it's an uneven corporate profit picture we definitely seem to have trough in terms of the overall earnings rate, but it's no clear sailing to get back to peak margins for mos companies. we are going to still rely o some of the huge mega ca growth names to make the ful s&p 500 targets. >> to the companies,, jeremy that you like, procter & gambl and raytheon, you also lik constellation brands, by the way, which you think i continue to grow however, they were however, on that list of companies that ha issued warnings abou profitability. so, i have to assume tha procter & gamble and raytheon, you think, are going to be abl to step past whateve short-term issues they face? >> absolutely. so, from procter & gamble' perspective, let's start there organic growth was actuall higher than expected in th quarter, and their guidance wa relatively strong in tha regard i think it's why it had

positive reaction to even what was considered maybe slightl weak guidance, and again, this is coming, we're bringin numbers down a bit, but overall, we are now moving this thing much and they're still talking about a relatively robust an resilient consumer,, so there' still plenty of activity there and then what during that stor of inflation that everyone was right about that, bryson was gonna come down substantially, or that people were going to pave the way from thei products at least this quarter, that wa somewhat put to rest then, on the raytheon side it's much more an argument around real self inflicted wounds that happened last year with regard to repairing som of the airplanes and the issue that they had their, comin closer to an end, and the core business still being relativel strong so. , even if their guidance wasn' robust and insignificantly up, you know, the price to the upside, there's still a lot of health within the companie that are giving people confidence that things aren' falling off a cliff. >> all right, we should poin

of that year me personally own constellation and raytheon jeremy, brian, thank you ver much mike santoli, thanks to you as well >> let's turn now to how that' halters and expected gdp repor is playing out in the bond market rick santelli joins us fro chicago with that one. our traders, rick, focused her on the growth? are they focused on inflation? >> they're focused on both it all matters at what time yo look at your watch, but time you look at the chart. so, the first question let's look at it on the tw year no yield, contessa. he gets 8:30 eastern, look a that spike it went up, up, up, two for 40 plus and then, within seconds, it disappeared! why did it disappear because it was the old one, tw punch. stronger growth, but easin pricing pressures. then, he was found to, fas forward to 1:00 eastern, where we had 41 billion seven year notes, if you look at that chart, you can clearly see, we had to pick. moving at the one before a

third. you could even see a math chart, and then, at 1:00 eastern, w saw rates drop and it wasn't that it was spectacular seventh year, it was average. but it was the last option, an it was the only one between th twos and the fives of a sevens that was a smaller size than the biggest size they've eve done in that maturity. so, they had 41 billion, and 2021 we had 62 billion for abou nine months in a row, in tha covid related period and finally, look at a year to date chart of ten. we are up nearly 25 basi points exactly on the year it's been an up here, and real quickly, we are now under 20 again, and 2 to 10 spread, i want to draw your attention to that minus 15 in the half from october. if we start to trade on th sunny side of that, meaning 14 minus 13, you're going to get lot of quick follow through, a lot of eyes focused on tha spots in october on that two-cent spread. tyler, back to you >> all right, sir. rick santelli.

coming up, elon musk dus settle say that five times fast tesla shares deep in the red morning of a wager slowdown in 2024 this after musk demanded a larger stake in the company' board. but these results now have eve polls crying foul at management, plus, ceos weighing in o earnings in a slew of othe factors this morning on cnbc we'll recap all of that an more, on threeto sp. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights.

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look at shares of tesla now, following the report after the fell last night. look at the path down. almost 13% today 27% this year. for more on what musk said tha the company did, or didn't d

and say, what's dragging on th stop let's bring in phil lebeau what is it, phil >> contessa, it is lack of - look, if you are an investor and you listened to that cal and you read the report abou the queue for results, there i very little in there that give you optimism heading into 2024 it doesn't mean that there things are going to fall apart at texla, but the headwind are there in terms of what thi company is facing right now. if you look at it, it you have the global ev market the growth of evs worldwide, it's slowing it doesn't mean they're no growing, they're just no growing as quickly as they were, let's, say a year or two ago pricing pressure, we've talked about this will they have to cut prices even more, especially in china and speaking of china, elo musk talked about the expansio of chinese automakers. remember, their biggest factor is over in shanghai, and tha factory is a big part of the success they've had ramping up

deliveries over the last coupl of years and for 2024, many wer expecting them to give guidanc saying hey, we are going t deliver at least, i don't know 2.1, 2.5, or 2.2 million vehicles they did not give any guidance at all, except to say growth next year or this year, should say, will be notabl lower than the growth in 2023. by the way, the consensus fo 2.1 million vehicles to be delivered in 2024. let's see if that consensu starts to come down as analyst crunch low numbers and get a better sense over the next several weeks over what to expect, at least in q1 meanwhile, elon musk on th call once again, as he did you know, a week or two ago in his post on x. lay that his reasons for why h believes he should have 25 voting share, or 25% stake in, tesla. here's what he said on the cal last night >> i don't want to control it, but if i have so littl influence over the company a that stage, that i could sor

of - it's out by some sort of rando shareholder advisory firm, you know, we've had a lot of challenges with institutiona shareholder services, i assess i call them i.s.i.s. >> dual class stock that would be ideal i'm not looking for additional economics. i just want to be an effective stewart a very powerfu technology >> elon musk, on the call last night, outlining what he believes he should have 25 stake in the company you take a look at tesla, th shares, we're showing you ten-year chart we should point out the stoc under pressure today, on track guys, for its worst day sinc 2020 we'll see but happens as we go into the last hour or two of trading. >> his desire for more equity, a bigger stake in the company, i guess it strikes me, it woul be very easy, let me put i this way, it would be very eas for a shareholder of the company to say, is that what you really want? in other words, to be a better

steward of this company? or is what you really want i for the shareholders of tesl to bail out your purchase of x >> that's one way to look at it now, his argument would be i you give me control, i would make sure that i will always b here you heard him say he might get voted out. i think it's unlikely, but h will trying to vote out elon musk his values of the company is very clear but the question is, for the tesla board of directors, an remember, there's a suit pending in terms of hi compensation, a lot of wha happens probably will be comin off of what happens with tha case, with that lawsuit. but i think what elon musk and the board have to determine is how do you give him the equity he thinks he should have regardless of what happens wit x, and yet, at the same time not half investors come back and say that's it? you're giving him 25%? it's a tough call for the boar

of directors and some regards, tyler. >> what's at stake now you told me this and i know >> i think it's down to 13%. >> 13% >> after what he had to sell i order to fund the x purchase or the twitter purchase, i think it's down to 13% right now. >> very interesting. >> so, it's not insubstantial, or on substantial. it's a substantial holding bac he has in tesla. but it's clearly not as much a it once was. >> no, and its value has gon down a good 30% today. phil lebeau, thank you ahead on power lunch, shares o las vegas sands higher after reported better than expecte results. we'll speak to the ceo, an remember that bank to ponder the 50 million dollar hamptons mentioned we discussed yesterday? robert frank was here? it sold! lott doing, sold, lot money, t follow details with power lunch returns.

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icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. the federal trad commission is launching an inquiry into a ideals made b tech giants, calling out specifically microsoft, amazon and google for their billionth other investments into the

start-ups openai and anthropic it's the focus of today's tech check with deirdre bosa. hi, deidre >> hey, contessa so i, had a conversation about those deals just this mornin with d.c. and founder, jac abraham, of atomic and i'm just gonna play it for you have a listen >> i saw a stat. i think it was about 19 billio dollars of that venture capita that went into the a.i. sector came to the big companies, and the amazing thing you're seeing, and these companies have figured this out, and they'r very, very smart they have all discussion around street. it's not creeping into the market cap, what do they d with if they could give it to a company that bounces back to them in revenue, and profit, i the most important segments, the cloud and make those gro faster that is the way to get you market cap up. now, microsoft is the first to discover that, and all the other companies are copying it and it's very, very smart. >> they're basically bankrolling their clou business sir something wrong with that, though should regulators be concerned about that >> i don't know that the should clearly, it's powering a lot o innovation the economy. or partially getting this a.i. is very expensive to

train. some of these new models are going to take a billion dollar or more to be able to train. that's not capital that ventur capitalists can fork over. so, to get into this a.i. age, you might need some of these bigger companies pushing thi along. >> contessa and tyler, that is a very key point to develo these large language models, like, open a and anthropic are doing. it requires so much capital, and so much compute power, which the mega caps half they are using it to their advantage, but it's also something i hear from a lot of start-up founders here is that they just want to be able to use these models they don't care how they'r developed. they certainly don't have th money to do it, so, they'r happy if the mega caps can, an we did a whole deep dive o this during our techchec weekly you'll find that cnbc.com slas tc weekly. mega caps, mega deals, how the are set essentially bankrollin their own businesses that could either rais eyebrows with the regulators but it could also benefi start-ups. >> are you getting a sense o why it's a concern for the ftc that there were thes investments made >> because they basically go

out the door from the mega caps, they go to and anthropic aroun openai, and at the same time these big deals, multibillio dollar deals, are signs that that money will come back in so, when opening i need to compute power to then go awa and build these large language models, that goes back t microsoft. microsoft gets billions of dollars there really could b antitrust issues here, if yo are creating a system that there is no competition fo that cloud business. >> exactly and you're creating the winner here a 13 billion dollar investment from microsoft gives openai very good chance to compete. in addition to, you know microsoft enterprise customers so, what the ftc may b concerned about, and by the way, european regulators are lookin into this as well. are they sort of changing th competitive landscape by picking and choosing the winners themselves >> let me make sure i' understanding this the quote investment tha microsoft is making in company

x comes back to it in the form of credit for services >> exactly to their cloud computing units which we know is so important. as we head into big tech earnings, right, investors wan to know, has amazon's a.w.s. bottoms? it helps when anthropic is don spending money, and inducing revenue in that way. of course, it's small enough t not make a huge difference it's not going to change the trajectory, of amazon's a.w.s. businesses, but it is this idea and then, they also get th outside evaluations continue t arrive >> there's a fair amount o usual brexit russian going on, you see. okay, pedro, thank you turning now to oil prices, which are rising today, due to an eight-week high from steven joins us now hi >> hi, and eight week high, we might finally be breaking ou of the range that oil spil stuck in for the past fe months over at cibc private wolf says 76% was a key level to watch we did top that, and that is because that is the model, her

model said the cta's wer pricing in for when they would start covering their short positions. and the cta's -- >> or the cta? >> there are there funds tha are tracking it based on the macro, based on the technica factors, very fast, ofte algorithmic traders. not so much on the fundamental side so, their model sort pegged 70 6:25, and so they told me they started covering the shor positions, and they are a large, or ever larger share of the oi market so, their moves tend to have more of an upsized influence also, we've still got that stimulus out of china, which will support oil given tha china is the world's largest crude importer and finally, we saw big -- in u.s. crude inventories, about 9 million barrel yesterday. that was thanks to a lot o loss production in north dakota got those recent temperatures. also, refinery utilization dro to about 85% as well >> you're seeing that's oil at 70 7:25 right now. pippa, thank you for that. let's get to bertha coombs for a cnbc news update hi, bertha >> high, could that. so opening arguments to police today against jennifer crumbly

she is the mother of 18 wh pled guilty to a shooting at a michigan high school back in 2021 killing four people. crumbly faces involuntar manslaughter charges in th case, a first for parents of a school shooter prosecutors argue today sh willfully failed to act before her son's rampage. while the defense said she simply did not know what he wa capable of donald trump's attorne confirmed moments ago she woul call the former president to testify in his defamatio damages trial in new york. it comes after the offense began its case earlier thi afternoon. trump is fighting a lawsuit, seeking over ten billion dollars for comments he made about writer e. jean carroll after she accused him of sexua assault. and the pga tour announced today that's 20 year old nicke on lap joined the touris member on sunday, the university of alabama student became the first amateur to win a pga event since phil nicholson did

back in tucson in 1991 he is one to watch, guys >> there's 20, i think alabama. i'm not sure anyhow, he's got a good future ahead of what american airlines up 10 after competing estimates no only turning a profit. we will hear from the ceo abou the state of the airline industry in three-stock lunch. ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking

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whose resumes on indeed here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi

and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. time for today's three-stock lunch. we're looking at three companies whose ceos all joine cnbc today here with our trades is eva al those, the ceo and chief investment strategist at you shares, great to see you today eva. not first, of american airlines shares sorting after the company reported fourth quarte results at topped estimates. here's ceo robert i some discussing the state of travel right now. >> as we go into the first quarter, we see demand strong. i think we're going to have really busy first and second

quarter, and look, i think the time to buy is right now for travel it's going to be a busy year >> eva, what's your trad american airlines? >> i have a poll, there have a meeting today of about 10% when it by on this news, i would hold many consumers don't realize this is no longer the bigges domestic airline company they used to be back in 2015 with a quarter billion dollars in market cap. now, they're down to nin billion dollars, that make them the fifth largest domesti airline company. back then, they had three times, they had profits that were three times higher, and that was one third below curren levels however, they're makin progress with their debts. it has come down by 11 billion in recent years. they've also improving their profits and their revenues, an last year, they also decreas their energy costs but i'm not sure if this i going to be the case this year as we have the red sea tension we don't know if this is going to affect their operation costs

going forward. >> a little tentative on american airlines. let's go to csx now, fourt quarter profits slipping there but the company ceo stil expects a profitable year fo the railroad here's joe enrich, talking about why he sees strong demands on the street earlier. >> still optimistic,, actually what we saw in december wa interesting. chemicals, forest products international intermodal all year long we're down t december we started seeing deflection positive auto, coal, metals and mineral have been positive all year, and we get santa new to se that so, we're feeling pretty goo what we see on the demand side right now. >> feeling good on the man how are you feeling about csx, a? >> it's a hold again, business is a slo growth area. but they're doing a great jo generating profits, which is important, and their margins are one and a half times there -- so that's really good. but which is actually, it's 38 compared to 23% for thei peers. but they have a capital ratio,

which is double their peers, which is not good. so, they are highly ra averaged and you mentioned the molest went years, they have double their margins, which is also good, because in this area, in the slow growth area, it's not very common, but their margins have been coming down in recen years. so, i'm not sure how this is going to continue. if investors want to hav exposure in the space, this is a very price, solid company, i would invest in this space >> all right, lastly, we hav papa john's, unveiling a new marketing strategy for the year here's ceo robert lunch talkin about the strength of th company is seeing. he was on the exchange las hour >> we feel great as we loo towards 2024 we've seen the stabilization o our business relative to the last three and a half years, where we've gone through obviously, a global pandemic some conflict across the world and hyper inflation. so, we feel like we are in a great position right now t take advantage of a stabilized environment. >> eva, everybody was talkin

about whether the each pap john's, but should they trad papa john's? >> i have a business sale. we used to own the company years ago, but then we-limited our position when the founde was removed over som controversy. their margins are >> reporter: and the revenue growth i actually negative. but most important, thei international sales came dow last year reported the reason why i want to mention this is that international you still compar 10% of their total sales but that contribute to 20% o their profits. so, you had double the contribution, and with international tensions that we see in europe and asia, that could significantly affect their profits going forward. >> all right, eva, thank you very much. eight on us, i'm papa john's >> coming up, a beach fronts bargain, that exclusive hand forensic state we told you about yesterday, selling a auction for 60 million les than the original asking price robert frank joins us for an update we'll be right back.

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robert, franklin last we, spok we are waiting for the results of an auction on the priceless property in the hamptons, now, roberts, we have the result. >> get, tyler. only in my world is $80 millio a bargain, but that's -- >> were disappointed >> or disappointing. this is a property called la dune out in the hamptons four acres, 23 bedrooms. not quite enough for tyler, bu still a pretty good size house. it's got to pools. this have been offered us th most expensive home in the hamptons, listed that 100 an $50 million. so, it hammered at $79 million and the buyers premium, abou another 10 million, and you ge to 88.5 million. that's the final sale price. question is, did the owner louise blue, and get enoug from this sale to pay her debt this has to be approved by a bankruptcy courts, because i was foreclosed and it went int bankruptcy but look, $88 million is still a very expensive sale. it's a murky property. there were seven bidders including one of the founder

of rent the runway so, there were seven wealthy people in new york and beyon to onto this property. it's pretty decent and that's probably what it' worth! >> do we know who the winner was? we don't know. >> anonymous >> anonymous we'll find out soon enough >> i will do my best >> you will do the due diligence to figure it out >> we want to ask you abou lvmh earnings, because you are looking here at the luxury sector i was surprised that some of the results that came out here >> yes, when we look at th high and consumer around the world, lots of eyes on that, lvmh is the bellwether they are four times larger tha any other competitors. so, the two numbers that reall struck me from this that we're actually very positive signs for the global economy, on with china sales in china were up 21% i their fourth quarter and when we look at th economic news from china, an i've just been expecting the chinese high and consumer to just crater. and they haven't in fact, they fingerling drawn. so, that was one positiv surprise the other positive surprise wa you know, that was in thei

court leather goods. the other positive surprise wa just the specialty retailing which is different many people don't realize lvmh owns sephora it's not really a true luxur brands, by some people but but wellness and beaut category has held up reall well those sales were up 30%. sorry, it was china up 30% the sales were up 21% for th specialty beauty so so for a really driving growth lvmh. >> it's interesting, though, because we saw estée lauder's performance significantl impacted by tepid china sales. you look at canada goose, high exposure to the china market i hurting the retailer, and, yet we have the ceo of las vegas sands coming up. they are reporting into account, there retail segment i outperforming pre-pandemic levels so, is there something about certain brands or certain area in china where lvmh is doing better >> well, respond had a great quarter in china as well

they were up over 20% lvmh u 30% in china so, i think what i'm being tol it's the must have brands in china, cartographer richmond vuitton and do your in china and anything below that is really struggling. >> interesting >> all right, robert, we'l find out who bought that house >> yes >> as i mentioned, cards on th table, shares of las vegas sands going slightly highe today after posting a revenu review for the fourth quarter. we'll hear from the ceo abou how the recovery is going in asia, when power lunch returns

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lunch. shares of las vegas stands u about 11%, following a earnings report that demonstrates how much luck plays a central narrative in the tale of two cities las vegas sands you know rob goldstein joins us now for a

exclusive interview here o cnbc rob, it's great to see you >> i, contessa >> there was bad luck in macau you missed earning expectations there good luck in singapore, and yo beat expectations. i'm more interested in the recovery from the pandemic because look, it's been barely more than a year since macau reopened certainly has been more modest rebound than what we saw in la vegas. but are you happy with the trajectory >> very much so. i mean, because a scou markets. we were the largest player i macau by every category. the lodging, gaming, retail. , so the market in the fourt quarter showed great strength. we reported about $654 million that's about $70 million behin due to poor luck in the back row tables but it's a recovery that's underway it's strong. it is the most important marke for lambast skimming in th world, overthrow to be there are we happy we're very happy it's just great days ahead

we're past the pandemic, where past licensing issues, so, the future looks very good for u for years to come. >> and that was just askin your colleague about lvmh. when you reported retail numbers, it was clear you have surpassed the levels of 2019 before the pandemic hit. are you immune from the kind o macro pressures in china tha other companies are reporting? >> i wouldn't say we're immune to anything. we're always part of the economy we live in however, we have about 2.5 million square feet of retai in a shell, both in singapor and macau, we did about $700 million of contributions fro those sources. so, our pre-pentameter, fa behind pre-pandemic numbers. i think we have a fe advantages most people don't have we have places that ar expensive, our hotels ar expensive and privileged peopl come very affluent people, whic means we preselect are custome base to, is we get the best sourc and the best type of tha store. so, the environment we sel

these luxury products in it's very, very nice environment. difference than what they have a home and thirdly, in the research environment, you tend to spend more money you're more carefree you're more inclined to spen money, so, i think for the lucky recipients of those thre things our retail sales are far beyon 2019, and the quarter wa floundering. they were doing their thousand dollars a four seasons lecture department we get $3,000 at envious o 600,000. >> can we talk about singapore because your commentar yesterday on the conferenc call was so bullish. here, you have constructio taking out a couple thousand rooms last quarter trying to visitation isn't fully back, and, yet the casin is just raking it in, making $339 million more than the previous year. that's 84% more, 84%, then the same quarter and 2022. when your occupancy was higher

why, and is that sustainable >> first of all, it's a record quarter. in the history to our singapor operation, it's the number one quarter of $544 million, o ebita. it's a lot of factor contributing yes, the casinos doing ver well the hotel is under renovation, as a reference, which is a big negative it means that picture is eve brighter from our perspective. that retail was extraordinar this quarter the games are extraordinary. so, singapore is a very, ver desirable place to visit, an we have the best hotel in th neighborhood and although the constructio clearly is an impediment, it looks to me is so singapore is on a track that run, and i will continue for years to come we see the two billion dolla annual ice utah asset an beyond x for five years, growing hopefully another te or 15% we are speaking with the government, hopefully, whe they approve it to, buil another tower in singapore i the future which will be very added to ou earnings there so, when we are raging both on singapore, and we should be.

>> i want to ask a couple of questions, rob, if i might you mentioned the word luck in explaining something a few most, i guess you work in one of the few industries where ceo can say well, it was just luck we had the luck, and b believed so, good for you breathtaking growth in revenues. how do you explain that? and number two, your stock is down about 10% over the past year. how do you explain that and what are they not crediting you for? >> the luck issue is a misnomer because it really is not a lot of business. at the mathematics driven business. there is no real luck. you are looking one day, one place and not so much in the other. in the end, the mathematics always propel, so the luck factor goes away. we don't build these places on luck.

as far as the stock price, we keep our heads down and keep performing. we bought back a lot of shares. we do a lot of job. we run these businesses the best of our ability. in the end, the stock price will reflect the nature of our business. i can't spend every day worrying about the prices up the prices down. we have great results yesterda , very bullish on 2024 and sunday the market will recognize what we have here. i can't explain to you why we are pricing like covid numbers as opposed to pre-covid. >> investors are not giving you any credit for macao reopening or the rebound in singapore. it's clear, although your president and ceo said the shareprice means there is a great bike opportunity and so we did. >> patrick rocked and $750 million. keep buying shares because we believe in our company. >> you talked yesterday about the new york opportunity and the texas opportunity, las vegas sands doesn't have

domestic operations in the united states and i know you have put tens of millions of dollars into both of these estates and lobbing for a license. can you give me a sense about how you think about the development and the way that might ensure that eventually there is a casino license? >> you're talking about new york? >> new york and texas. we are looking forward to building a development there. >> we would like to be in both places, but new york is in process. the governor alluded to it this week is perhaps a decision 24. we have required the coliseum that affords us the ability to build a true destination resort of scale and importance and provide tens of thousands of jobs both construction and operating jobs. we want to build a five star hotel, canyon ranch, lots of convention space and build something, very much a very desirable resort in new york.

new york has a process in place and they will make it decision. texas does not have that. we are working towards encouraging people to nick about it but texas does not have a process in place today who will be patient and be advocates and i would like to see how that goes. new york were hoping for decision because we think we can build something in the $6 billion neighborhood that would be astounding and very helpful to tourism in that state and taxpayer as well. texas is on the table down the road. smoke >> rob, it's great to see you. thank you for your time. appreciate that. >> thank you for having me. good day. >> same to you. still had, a new appraisal americans don't consider homeownership. we will discuss that and much more when power luh coins.ncntue

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three minutes left, several more stories you need to know. let's get to it. bank of america says it's time to get back to the office and they mean it. the firm has been sending letters of education. it sounds a little like, communist. the employees who have not been showing up in person.these letters. it gives them two weeks from the date of notification to comply or face further disciplinary action. apparently, there are some people who just ignore the back to work orders. >> do that at your own peril. re-education. let's talk about costco who just wrapped up banner year for hotdogs. the wholesale retailer sold 200 million hotdog combos last year. a record for the dollar 50 deal. same price it has been for nearly 40 years.

there is no inflation in wieners, apparently at costco. there you go. i said it. nearly two thirds of americans say that buying a home is no longer the measure of achievement it once was. this is according to a new nerd while a survey. 37% say they plan on renting forever with over half saying they don't think they will eve , ever be able to afford homeownership. we will see. lots of excitement about playoffs and the super bowl draftkings, caesars, but mgm, they get so much attention. investors might want to watch the power behind sports books. genius sports is the exclusive nfl data provider. it is publicly traded. makes money off of licensing fees and revenue-sharing with the sports books, and makes three times more on in game bets than pregame wagers. it is packaging the football fields in this unique way like augmented reality so the viewers can see the odds of a

specific play just as it is getting ready to happen and then they sell that to media companies as well for better audience engagement, and they sell it back to the teams which want the data to perform their own the duopoly because geniuses bigger competitor is sport radar. has deals with all the other major pro sports leagues and 90% of the sports books, michael jordan is a big investor. the stock down almost 5% this week, though on the news that the cfo and the chief strategy officer are both the parting but the have a big international business where they go in and scoop up the content from a country like -- >> premier league like in soccer. >> but columbia. when the sports group expand and they need that content, they have to license it from sport radar. >> is about in game bets? >> the prop bets are something and that the sports books don't

do that. >> it now has two catches in the game or two touchdowns. i'm going to but he went to get a third. >> even more, will he complete this past to the touchdown? you can see, what are the odds or what is the chances of this happening? so, there is a lot of engagement around that. >> thank you for watching power lunch. >> closing bell begins right now with scott walker. i'm scott walker live from post nine at the new york stock exchange brick this hour begins with the state of the rally and whether the market is once again too crowded at the very top. ably too much money chasing too few names. whether it is going to have an unhappy ending. we will ask tech investor glenn. in the meantime, your scorecard with 60 minutes to go in regulation and it does look a little bit different than it did a while ago. yes, we are agreed across the board but some of the wind has come out of the averages as the day has progss