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everybody. alongside morgan brennan, i am tyler mathisen, good to have you here. coming, up seven trillion dollars and a dream. openai's sam altman has some ambitious plans for the future of his company and what is needed to power that dream. >> plus, getting ready for the super bowl. the cybersecurity threat surrounding the big game. the cost of wings and nachos, we are gonna talk to a former super bowl champ as well about what he expects to see on the field sunday night. but first, let's get a check on markets, because it is a bit of a mixed picture here with the dow under pressure, but the s&p firmly trading above that 5000 mark, up about half a percent. tech really leading the charge here. there is a pepsi or falling today, as the company surprise wall street with a drop in revenue, even though did beat on earnings and racist evidence. >> but the action today is clearly in big tech, as a nine patients get bigger and bigger and bigger, and sam altman says the limitations of current chips are holding back his company's growth. our teams on every angle of the story and what may come from

it. deirdre bosa, steve kovach, kristina partsinevelos, let's start with you. what do we know about altman's ambitions and the price tag he has put on them, or someone has? >> tyler, we know that they are mind-boggling. this is like the moon shot of all moon shots, and 'm going to use google's definition here. a moon shot is something that sounds undoable, but if done, could redefine humanity. that is what sam altman is reportedly looking at. let's start with the number. according to the journal, it could require up to seven trillion dollars. that is seven times the suspected size of chip sales in 2030. it's more than the combined market caps of apple in microsoft. it is 7 million millions written out, 12 zeroes if you are counting. i will put up on the screen for you. we can barely hit it on one screen. the project itself as aimed at reshaping the world's which chip building capacity. altman is going after one of the most complex, geopolitically sensitive and the world. and it's a project record equally complex partnership

between openai, chip makers, investors, power providers, and governments. perhaps the most interesting part of this is the why. openai and altman on a quest to develop a -- a.g., or artificial general intelligence, which openai defines a system deliberately smarter than humans, and so it has the ability to teach itself there by creating new even potentially smarter agi's. depending on who you talk to, that could ruin humanity or supercharge it. a lot we need to fall into place for any of this to happen. there is still a ton of questions that i know what we're going to get into. a few of them, though the chips are national security issue. a bit of a frenzy new landscape because they're gonna need sovereign wealth money for this, cam is off or ceo lead the charge when others, notably mega caps, chip companies themselves struggling to catch up to nvidia, and how do you raise seven trillion dollars? guys, i was trying to figure, out who do you think the valuation would be of a seven trillion dollar investment? >> you've got me, but we will come back to you in just a bit. once you're part of that for a minute, deidre. joining us now instead to discuss this is cnbc's technology correspondent steve

kovach. i'm guessing if this is as big as these numbers suggest, that this has to have a major governmental drive behind it, one way or another. >> exactly, and deirdre looted to that two, the possible security issues. let me just read, i asked openai about this, and a spokesperson told me, i will just quote here. we will continue to keep the u.s. government informed given the importance to national priorities and look forward to sharing more details at a later date. so they are taking that into consideration, they are talking to authorities, at least that's what they say that they are doing, but we know what the u.s. position here is. we've had the chip changes going from over to china, and that is been kind of hurting into the a little bit and other chip companies unable to do business maybe in china in the same way they were because the technology is seen as so fundamental to the future, it really is a race. >> it is of national security importance. >> if national security, you

name it, all down the line. so li■esque is tied up in there. we're talking about the seven trillion dollar whispering, oh my gosh number. >> what is that number come from? is that a number that he put on the investment? >> i guess. that is what he thinks it will take to do what he wants to do here, but who has seven trillion? this is a question i would have to do here is who has the seven trillion dollars besides governments. it's not vcs, vcs can't do. that >> sovereign wealth funds. >> sovereign wealth funds would have that. >> and there are not too many sovereign wealth -- funds >> or a consortion of sovereign wealth funds. >> for, that you have to go to the middle east. >> yeah, but arguably the uae would be one of those that would potentially make sense and check a lot of boxes, and to be very very clear, i could do this for many of my conversations on the national security side, my interviews on the record with a jean raimondo, the commerce secretary, 1% without a doubt semiconductors our national security issue. they're only becoming more of a

national security issue. it also speaks to a broader and austria policy here in the u.s. that is much more national security focus. but the other piece of this of course is going to be the electricity in the energy needs that are so seated with all of these semiconductors and all of this a.i. compute power as well, and i would imagine that would be part of the conversation you are having with say sovereign wealth funds or the uae that is energy rich. >> exactly. and that comes down to oil, doesn't it? and fossil fuels, and you know, that is not with the silicon valley at those really would want from this at the same time. so this is ambitious. ambitious is not even the right word for it. it is almost ludicrous. >> mind-boggling. that's what i keep going back to. i cannot think of a better word. >> the undercover bases funding quite a bit. deirdre, what is a last time you heard a deal even approaching one trillion? >> i thought about that this morning, and it has to be soft bank's vision fund. that was 100 billion dollar fund, it was bigger than anything that we ever saw before, and this is magnitude,

magnitude larger, and that completely shaped the venture capital, the start-up world, and led to supercharge companies like we work. could you imagine what this would do to some of the chip companies? >> let's move to the chip sides pacific lee of the equation, and how altman's plan could affect the existing chip heavyweights since we know some of the reporting suggest that they would be involved in this process. kristina partsinevelos has that side of the story from the nasdaq. christina, what is your reporting on anything on this? >> having got them, i need to get them. >> it's funny, use the word could, and i will stick with that, because like everyone alluded to, it's quite a mind- boggling number, but if, i will use the word if the funding does come through, this could bode well for equipment makers like limb research, kayla, applied materials, which already could get a boost because of finding, morgan, you just talked about. we're expecting more awards to be dispersed in the coming two months or so, and so that's a positive for a lot of these ones you're seeing on the

screen. there is also strength possibly in the chip designer simulation verification firms like cadence design, synopsis, and so that is why you're seeing cadence and a synopsis of higher today, because even arm, which we saw a surge just after its earnings report, the stock is up again to an half percent. but look, up to date, 65%. the blueprint for a lot of these chips. so if a lot of this funding is coming into the united states, these are some of the beneficiaries. there is also a reuters report that openai and nvidia are working on a custom chips, hence the positive reaction in nvidia shares, and this is a new for nvidia though, and i want to point that out. something that ceo jensen huang mentioned in his keynote back in 2002, but it was largely overlooked, myself included, because we were all more focused on nvidia's a.i. chips, right? it's all about those gpus. but today reporters reporting nvidia is actually meeting with amazon, meta, google, and openai to discuss building their own custom chips, and they're also in talks, nvidia is in talks to work with a

while this trip with ericsson. they wouldn't confirm any of these conversations, but it's still enough to create a reaction in all of these stocks. a lot of these companies like ericsson or negatively impact a company like marvel, because marvel does make custom chips, sodas broadcom. and so for those that are, like oh my gosh, the conversation about ship stuff, think about it performing very specific tasks. there let cheaper than gpus, which gpus can handle a wide range of tax like graphics, wintering, machine learning, et cetera. and to bring it full circle, it requires a lot more power in the chip world. they use the term power gate, and this is gonna be a huge topic in the years to come. because of the power use that is needed for these data set tours, which is why efficiency is key for budgets, for everyone. >> one more company were not mentioning. microsoft. it's destinies uniquely tie to what openai is doing. a lot of the technology they are developing, or opening i is

developing, will eventually find its way to microsoft products. they are already doing that with the copilot assistant and so forth. they are reporting that saga delicate, the ceo of american microsoft, is aware that sam altman is going out there in doing that. but what we learned last fall is that this is a complicated relationship because not just because microsoft is so much on technology, but it because it's heavily invested in opening i to. so if opening eyes chasing a seven trillion dollar fund raise, as deirdre said, who knows with evaluation of a company would be there. that plays into microsoft. >> it's a lot of money, but they don't have seven trillion. >> exactly, so that plays into how microsoft values its stake in openai, not to mention just the technology being developed. microsoft also working on its own chip. so there's just a lot of complicating factors. >> we will see the argument, christina, or steve, but that a

non incumbent check make or not nvidia, not intel, not broadcom, not a.r.m., not amd could be a big beneficiary of this. >> and the case of openai, he has the branding right now, and the interest from sovereign wealth funds around the world all around the world that want to invest in a.i.. so there's an opportunity for investments there, but the big question is, i think the skepticism is around actually openai building the ships. why he has to rely on third- party members, a beneficiary would be tsmc, taiwan semi for example, but we saw the example of apple. apple has been working on these mobile chips for smartphones for quite some time, but they had to resign their agreement with qualcomm because they were not able to make a chip that was ready to put in the new iphone. that shows that even apple, a tech company that has been around forever, mega cap, has been a leader in technology, still can't figure out exactly how you get those chips for the perfect ship for the phone. and it shows a lot of these chip companies will benefit

because they specialize, and that is what amd does, that is what marvell does, arista networks, and this continues. >> kristina, thank you very much. in steve, thank you for being with us and explain us all to us. coming up, super bowl sunday is upon us. huge money swirling around this game. maybe not seven trillion, but plenty. between the event itself, the gambling, the food, even cybersecurity. we will cover all of the big angles for their head on the program. power lunch will be right back after this. ♪ ♪ 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

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xfinity rewards presents: '1st and 10gs.' xfinity is giving away ten grand to a new lucky winner you ready for this? for every first and ten during the big game. enter daily through february 9th for a chance to win 10gs. with the ultimate speed, power, and reliability the xfinity 10g network is made for streaming live sports. because it's only live once. join xfinity rewards on the xfinity app or go to xfinity1stand10gs.com for your chance to win. welcome back to power lunch. shares of cyber arc up 70% on blockbuster news yesterday. that beat wall streets estimates. it looks like she has a higher again and wedbush and bank of america increased their price

targets following that report, but calling it a tight pick for 2024. a cyberattacks become ever more sophisticated infrequent, cyberark's survey found nine of ten organizations were targets of ransomware attacks in the past year. nine out of ten. a large majority actually paid the ransom. so let's bring in my next guest to discuss the trends in cybersecurity. joining us now for more is cyberark's ceo matt cohen. matt, it's great to have you on the show. we tease that you are coming on to talk about the cybersecurity threat as we come into super bowl weekend here, but when i see a stat like nine out of ten companies in your survey, having ransomware attacks and in many cases paying those fees, let's just start there, because that is staggering. >> yeah, i think it speaks to the threat landscape that we see today, which is kind of facing this rising crisis of proliferation of identities that exist.

the new complexity of the environments they are trying to protect, and they're doing it in a new environment by the way with workers working, hybrid working from home. they're doing it each and every day to try to figure out how to secure the new parameter, and the new parameter's identity. that means that the bad actors that are out there are and evading themselves trying to figure out how to get in, and they're doing it more effectively each and every day, and we see that in the ransomware results that you are exhibiting. >> okay, dan ives over at what bush calls the quota that you just reported another mahomes like quarter. at a time when the geopolitical landscape is becoming more fraught, we see more attacks including cyberattacks by the likes of russia and china and iran to name a few, it is a big year for elections, not just here in the u.s., but historically speaking when you look at the globe over. and then of course we have more and more adoption application of a.i.. how is the threat landscape growing and evolving, and what does it mean in terms of the

innings that we are in around the security risks. what does it mean for cyberark? >> i think if you think about that threat landscape that you are describing, and you hit on this idea of a.i. enabled attacks. when you think about the power of a.i. and what he can used to boost productivity for enterprises like us, it also is a element of innovation that the bad actors can use to actually make their tax more efficient, to make the more effective, to make even basic things like fishing, which has been out there for years and years, turn into a more advanced attack with deepfakes, with phishing, with voice some elated tax. and if you get into the election season itself, you start to see people actually more likely to click on links, more likely to believe what they read, and then become more susceptible to these bad actors that are out there trying to get into environments, trying to get into enterprises, and trying to take over.

so far cyberark, that represents an opportunity. we started securing the most privileged assets, the i.t. admins accessing the data center, but now throughout the enterprise, whether it is developers, it is a larger workforce, it is the growing amount of machine identities that are out there. they all need a layer of control in order to be able to be secure. and that opens up the broader opportunity for us, cyberark, to secure the entire enterprise for the customers we deal with. >> so whom does artificial intelligence help more, the bad actors who are going on offense using it, or the good actors who are playing defense? >> i think it is a constantly changing seaside if you would, or scales. i think they innovate and we try to innovate and response, and all of us, not just cyberark, but all of our cybersecurity piers out there, are trying to make sure that we innovate ahead of the bad actors that are out there, but it is a constant balancing act,

and certainly in this threat environment, we need to stay vigilant, and we need to stay on the attacked as defensive agencies. >> is a bad actor more inclined to attack a big event like the super bowl, or more inclined not to attack a big event because they, the bad actors, we realized that the defenses would be so bristling surrounding that event that they would wait and maybe go in march or april to attack the national football league or its teams to get credit card information about season ticket holders, et cetera et cetera, or whatever the heck they want in terms of identity or whatever. >> tyler, it's probably tough to predict exactly what people are going to do. with that being said, these larger events like we are talking about with the super bowl, or we're talking about the elections, they really allow an opening to the consumer, to the individuals that are out there. the attacks that are going on against the enterprises, including for example the

franchise that sit within the nfl, that are operating its business into these, that is an ongoing attack that is pretty much going to happen all of the time, and we need to be aware and prepared. >> i, mean it has been a pretty solid earnings season so far for anybody who is in cybersecurity, yourself included. i even just look at cloudflare, which is surging double digits today. i realize it's a little bit of a different business there, but how would you categorize the competitive landscape, and we do expect that we are going to see more m&a and this landscape given the fact that this threat landscape is changing and the demand is growing. >> sure, thanks. our quarter and our year really demonstrated the growth potential of this space of security. we grew 36% and our ar are, annual recurring revenue for the year. we are actually put up a record fourth quarter, which you see and the result that you have up on the screen. but what we see in the competitive environment is more and more attention being spent

on identity security. when you peel back all of the major reaches that are out there, you peel back all of these terrible headlines that we talk about, all roads seem is ultimately where the bad actors in the attacks are targeted. and so we see ourselves as well positioned to be able to respond and help organizations respond to that type of attack method, that type of attack vector. also, that leaves us with looking at other ways to obviously build out our security platform, make sure that we about to secure every part of the enterprise from i.t. as i said to developers to the entire workforce. >> okay, matt cohen of cyberark, think you for joining us. >> thank you. >> she has reveler 6% today. as we got the break, a quick power check. on the positive side, in phase, they've said that they've hit a bottom. morgan stanley's and -- hitting

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all right, welcome back to power lunch. revisions to recent cpi data now show inflation was not as bad as we first thought. let's see how that's playing out today in the bond market with rick santelli in chicago. rick? >> yes, tyler. you nailed it, but not as bad. that's kind of a wide statement, many are using it. i look at all the revisions that go back to 2019, five years, and they were subtle revisions, and that is not a bad thing because many, including myself, were very nervous that changing seasonality's due to a variety of reasons, not the least of which is pre, post, post covid issues in how the world is changed, those seasonality's might be given data points in a highly accurate. so seeing that the cpi didn't spring much, it's a good thing,

and the valentine's day surprise will be -- to ppi. this will be next week of course. a day of two year and you can clearly say at 8:30 eastern we have a whole lot of volatility. knee-jerk reaction? rates turned down. that quickly dissipated. you can go all the way to the 30 year bond, see exactly the same dynamic. but maybe the bigger story here is that despite the subtle changes that specifically most traders saw one tenth lower and immediately started buying the market, pushing yields down. but once you look at the data, will 2024 has been a year for higher rates, for getting with the threat is going to do. i'm talking market driven. so let's look in a ten-year. there is the year to date chart. it is currently at 4:18. that is the current high yield close of the year. so we are twinning with a new one. two year yields? they settled their high yield close as 4:47. so right, now they are on pace for a fresh high yield close.

and by the way, ten-year yield as they sit here are up 16 basis points on the week. twos, threes, fives, seventh, tends, all toying with fresh 2024 high yield closes. morgan, back to you. >> and we are training with a spx at record levels. it's kind of amazing to think about it. treasury funding, all of these options. it's kind of a wild week for bonds and for those yields. >> absolutely. >> rick santelli, thank you. natural gas prices falling to their lowest levels in three years. pippa stevens here now with the look at what is driving that trade. what is driving that trade? is it whether or something? else >> weather is always the most important thing when it comes to that, but it is actually the first factor. apart from that one week a very cold temperatures, we saw across the country, it has been very warm. they are seasonably warm temperatures in december was very warm, and so we still look into that. the second factor, and so that is the first factor, and the second courses production, which is currently over 100 billion cubic feet a day around record levels, and then the

third is the fact that we still have that outage at freeport. so one of their lng trains, they fell off, and then at the end of january they said they would be off line for about a month. that impacts gas, because it reduces our export capabilities and refuses demand for gas. and so right now we're at 184. actually, 150 is the level where producer start shedding production. so we could still drop a bit here before producers start, and i can no longer make money, i'm going to sharpen my production. >> so it is are simple as elevated production, warm weather, which reduces demand, price comes down. >> when you put it like that, yes it sounds very simple, but it's true. >> a day off, sounds good. >> but you see this, and it always responds to weather, and it's very volatile, and you can never predict that foreign advance with particularly volatile temperatures. and it's even hard to protect, and we're still working through what we thought was going to be this big surge in european demand, we thought there is going to be this energy crisis.

and so we're still seeing the lasting impact of that. it's what goldman actually put out that while 2024 looks bad, 2025 is looking better, because this is a cyclical business, and so if the market comes this, year next year looks better. >> thank you pippa, appreciated. let's get to kate rooney now. cnbc news update. kate? >> hi there john, the department of veteran affairs announced a plan today that lowers the burden of proof to get disability benefits for certain cancers and chronic conditions. the expanding list of locations and timeframes for service members who were exposed to agent orange and other herbicides. list already included vietnam and other locations in the south pacific, but it will now include 12 states where the materials were tested. egypt meanwhile has sent about 40 tanks personnel carriers to the border with gaza in the last few weeks in an effort to boost that security in that area. it comes after israel's military expansion in the southern area of russia where

many palestinians came for safety. and saturday night lives colin josh will be featured as the entertainer at the white house correspondents dinner, often called nerd of prom. the joust will be the latest in a string of entertainers including trevor noah, stephen colbert, who have highlighted and that event in the past, big news for the nbc family guys, back over to you. >> all right, we will take it. caitlin, thank you. after the break, it's not just a new super bowl champ being named this weekend. we will also have a new stop drafts champion. before we announce our winner on monday, we will take a look back at the competition with one of these contestants who unfortunate came up a little short. that is coming up next. ♪♪ whoo! ♪♪ light work! ♪♪ next victims. ♪♪

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welcome back to power lunch everybody. after nine months and ten teams, we are getting ready to crown a champion in the 2023 cnbc stock draft that ends at the close of trading today. team wu, which is charlotte flair's team, has a commanding lead because of triple digit

wentz because of nvidia. she's followed up by tory done lap of the financial feminist, a look at -- and t mntn goats which includes actor ryan reynolds, i believe they were the one of the prior year. they didn't go quite as well for our next guest, -- team house of kings. it is in last place, dragged down by a long shot bet on peloton, which has lost nearly 48% since the draft began on the nfl draft day last april. as other, pick united health, of 7%. here to discuss the draft is super bowl champion and more -- future hall-of-famer as well. welcome, good to have you with us. hey, when you picked peloton and i as people know i am a -- i thought it was a pretty cagey choice because to win this you have to have a home run, and that have the possibility to be a home run. it didn't work out, but -- >> yeah, definitely didn't.

i had the opportunity to do a little bit of research and see they're putting on a new ceo, and there are a couple of news pieces that came out in the last couple of months and unfortunately it just didn't work out for me, and so it drag me down, and i knew that united health would give me kind of that steady gain. i was doing my barbell approach, which is outside of my normal way of investing the of the great mentors that i have. >> one of those mentors as warren buffett. i guess you got to know him when you are at nebraska, all american player there. he is a nebraska fan, and benefactor. have you talked to him and what did he teach you about investing? >> yeah, we do. we talk on a quarterly basis. we just talk about a handful of things. one catching up mostly with time, but just in general, just being patient, and i think that is one of the biggest things that i learn from him, having an opportunity to be patient, be steadfast in your thought process, look at these different companies that you're investing in and also involved in tell them grow.

so a lot of patience is one of the big keys and i know that most athletes entertainers don't have patience. they just want to see immediate success, and it's all about the long game. >> patience is not a -- which has a very finite timeline, and you have to hit and hit quick. jump in. >> i do want to get to some super bowl questions with you, but first, i mean, you are an advocate for financial literacy. why is it so important, what is the number one mistake that you think athletes make? >> honestly, -- i think is one of the biggest things that our youth need to be involved in any to be explosive two. primarily because at this age of hybrid n.i.l. deals, especially in sports, on the whole landscape-changing, they're in tuned with all of these amazing deals that they are getting involved in, but just don't understand how they need to structure themselves to be able to pay for those taxes and that income coming in as we are getting into april and taxes on and whatnot.

so those are the things that they need to start learning at a young age, whether that be a middle school or high school, and something i've been able to be very fortunate of is having great partners like it had with into it to be able to create these interesting opportunities to do workshops with kids in high school, like we did this past year, and even more specifically coming up in the near future we're excited about doing another partnership with them and growing that space, especially around this n.i.l. warned that needs to be addressed. >> it's a brewer, r. kelly contestable asked our, was asking different athletes about super bowl this weekend about their investments, but also about the fact that we've seen this surge in popularity around the nfl, and whether betting is the culprit, or whether it is taylor swift or both. i didn't get your thoughts on this as we go into the super bowl weekend. >> yeah, super bowl weekend is a big weekend, and betting is always a number one piece. tell us which is obviously a big part of it as well.

i will be in attendance in the super bowl and around all of the fun activities, and so we're getting ready to head out, me and my wife. so it is a lot of excitement. i've been in three of them, and so being able to be part of them and be around them, at the same time, that is always a big thing. >> who is your pick this weekend, ndamukong? >> my pick? i'm watching throughout the last playoff weeks, i was in london having some fun with them, doing announcement, but i think watching kansas city, i take them as my winner, because one, i beat them in previous years, and i know how dominant that offense is. they're on a very high rule being on also under, and then the defense, surprisingly their defense has shut down some amazing offenses. and the more jackson, who just won mvp, and then the buffalo bills with josh allen and that amazing high powered and effective offense. so i think the kansas city chiefs are going to take care of business against the 49 or

even though i got some friends over on that team that i hope can get a ring sometime soon. >> you can play this year, he did not get back in? >> i had many opportunities. actually, one of the teams it's in a super bowl called me in week 16 17 to come and play, but it just didn't sit well for me and my family. it's all about the right opportunity. i am in a very fortunate and blessed situation where you don't have to play football, but i would love to play it if it's the right fit for me in my family. >> all of those quarterly meetings with one buffett helped as well. >> the game is better when you're playing, ndamukong, the game is better when you're playing and the hall of fame, you will be in it. thank you for coming. >> thank, you i appreciate it, it's always a pleasure to talk to you guys and i look forward to seeing you again soon. >> still ahead, a small bill for your big party. some game they snacks because the less this year thanks to

deflation. our own jean wells has the details. jane? >> with my rams on the sideline, i'm all about the super food bowl and we have good news even for taylor swift's favorite food. yes, i am going, there and you will to win power lunch returns. there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals. and look forward to a more confident future. voya, well planned, well invested, well protected. at ameriprise financial our advice is personalized based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice... i can make this work.

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welcome back. while food prices remain a perpetual problem for consumers, looking for to the super bowl could see some deflation. jane wells has the story. hi, jane. >> hey, morgan. i'm all, and i'm wearing my commemorative roman gabriel jersey, google him. but anyhow, whoever wins and loses on sunday, you win and lose a little when it comes to the party. we will start with the proteins. when prices were already down a year ago, and they're down even more by the way, taylor swift's favorite food or chicken tenders. ground beef for your tacos and burgers is up though, but the surprise value this year,

shrimp? take a look at this, courtney schmidt at wells fargo has been running the numbers and she says that ground beef prices are up 12% from a year ago, and you can see what's happening with shrimp and chicken. shrimp is down 6%, and when prices down anywhere from five to 11%. why? >> they've been dealing with some export restrictions related to the bird flu again this year, and then they've had more weight on the birds this cause more production. >> we've had plenty of avocados. guac prices are about flat, but it is in the package goods where you are going to start to see inflation. it's the packaging costs more, there are higher labor costs, and wages are going up. chip ices according to schmidt are up five to 6%. pepsico this morning talked about higher potato prices. salsa prices are up 3%. as we move to beverages, beer prices are starting to flatten out. not as many and people are drinking beer. it's about a buck 75 for 16

ounces, she says, and when it comes to soda, soda in a can is up 5% from a year ago, and so that any plastic leader is down 1%. so it all depends on whether it is the aluminum or the plastic. as we look at how pepsico is performed after reporting earnings, schmidt says that so it has been, has seen the highest food inflation of any category since covid. -- is up 55% since 2020, and leaders are up 33%. >> 55% since when, jane, did you say? >> since covid. 2020. 55% for carbonated sugar water. a lot of it of course is when it comes in. >> i have to say, i know, i remember watching roman gabriel. >> he was so dreamy. >> he was a big tall guy i think from north carolina state if i'm remembering correctly, i think i remember. it >> i think, so he's still alive, he's out in palm springs. he is in his mid 80s.

they could never get past those darn vikings "! >> no, that's, right and the vikings could never get past who it was they were playing because they never had won a super bowl. >> i know, i know. >> jane wells, enjoy the wings. thank you, thank you. still ahead, the s&p 500 maybe notching all-time highs, but more than a dozen stocks are trading below their 50-day moving averages. how about that? a three-stock lunch traded will tell us if there's any opportunity in those laggard's. we will be back when power lunch returns. >> -- celebrating black heritage, i am sharon epperson.

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welcome back to power lunch. it's time for today's three- stock lunch. today, we're pulling three stop from a cnbc screen, or looking at stocks underperforming as the s&p sets records. here with our trades, david

wagner, portfolio manager at -- capital advisors. up first, we're talking about chips early in the hour. teradyne, as of yesterday's close, slightly below its 50 day moving average. david, your trade on teradyne? >> morgan, in the semiconductor space, it's tough to get excited about a company that does not have a narrative right now. and that's teradyne. yet their biggest peer, advantage, has one of the best market narratives out there. one, teradyne worked closely in the mobility, market think smartphones, think apple. well adventist, it's peer, has more visibility in the current and -- given their focus on the gpu test market. to think nvidia, amd. that's the narrative the market has been rewarding right now. and when you look at fundamentally under the hood of teradyne, you see the market was really hoping for some type of growth this year. their guidance ultimately push that off to the second half of this year, because they see some weak this on the automotive side of their

business. all in all, it's great at winning designs, they just need these designs to convert into volume. and that's taken a little while, because an eighth quarter drawdown, slow down, in their end markets. i'm staying away right now, you can remain patient if you hold. >> let's move on to a broad ridge financial, last stop of about 37% in the past year of training, just below its 50 day moving average. your trade on broadridge, david? >> tyler, i've been a holder of broadridge for almost a decade right now. i think when the last few months is a prime example as to why i feel the stop for so long. if you go back about one year, the company was fighting to big bear cases that were thrown at it. the first was that the wealth management build, out -- free cash flow and limited margins. the second bear case would be that the proxy business has been growing above trend for a few years now, and that was going to revert. well, fast forward to today, and we now know that the wealth

management build out is complete, and that we've seen a lot of cross selling which has benefited incremental margins, which is ultimately driven free cash flow. secondly, the proxy business remains very resilient growing mid single digits this year. basically the company put all of these to bear cases to rest, allowing the name to trade at the higher end of evaluation. tyler, there is nothing more i like that when the bulls really just stick it to the bears, and that's exactly what broadridge did here. i remain long. >> all right, finally, -- reported earnings this week. stocks up about -- in the past, year we talked about is training below its 50 day moving average. what's your trade on carrier global as we talk about h facts and a secular trend that involves more spending on things like infrastructure? >> anecdotally throughout this entire earnings season, i've seen the market really start to reward if turnaround stories. carrier is not a story that needs to be turned around, it feels like it's a name that is turning the corner to a more

simplistic story. look at this past earnings report, investors finally received a new fiscal year guidance, and it wasn't that bad. of course, you know the bears are gonna continue to focus on the concerns around the european heat pump demand in the u.s. presidential hvac market. overall, the guide was strong. core earnings are expected to go 15% this year, well proceeds from sales are gonna provide carrier a pathway to get about two times leveraged by year end. which will open up the idea to resume shared buybacks. this simplicity, morgan, is what should be rewarded. pending no material slowdown in the market. i do like this name right now. >> david, thanks very much, have a great weekend, sir. >> cheers. >> you bet. coming up, big anks pulling big gains from overdraft fees. regulators take the cool, it will break down the numbers when power lunch rur. tns see that? that's like the gap in my health insurance. gap in your health insurance? yeah, it didn't cover everything when i got hurt.

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okay, we only have two minutes left in the show, we got several more stories you need to know. jpmorgan chase, wells fargo, and bank of america reported annette -- in overdraft fees last year. and while that may seem like a lot, that's roughly 700 million less than a year prior, this comes as banks faced pressure from regulators to cap fees, create new ways for customers to avoid the penalties, and of course, we're having this conversation in a week where maybe not the big banks, but the regional banks, certainly under fire and more scrutiny. >> yeah, the nyc b bank issue is put yet another paul over them. banks are ingenious and figure out ways to hit you with these. whether they're overdraft fees or the latest one i've seen is the paper statement fee that i'm paying for not going paperless in my accounts. $3 a month for my bank. i'm happy with him. have to talk to them about that. big game may not be till sunday, but the kansas city chiefs have already been dominating that advertising game.

have you noticed? during this year's nfl season alone, patrick mahomes travis kelsey and andy reid stored in a combined 33 different tv commercials. which cost nearly $400 million to air. so, whether or not kansas city wins are not on sunday, and i think they will, because i think there are a hot team, kelsey, read, and mahomes have been winners in the ad race. >> talk about, we just had this conversation in athletes and investing in what the future looks like off the field. >> i bet mahomes makes more, i think he made 500 million his latest contract or something like that. i bet he makes more from endorsements than he does on the field. i bet. in the meantime, we're seeing the price of super bowl tickets hit fresh records to. >> 80, five 80 $600. this weekend. >> all, right u.s. army scrapping its high profile big ticket program to develop a new arm scout helicopter known as the future of tactical reconnaissance -- they spent $2

million, request another $5 million for the next five years. for that major modernization effort. lockheed martin -- bell were competing, ge building the engine will now stay in development indefinitely. we'll talk a little bit more about that on closing bell, overtime, or we also have a number of guests including -- from -- >> will be watching. thanks for watching power lunch. see you next week. >> all right, guys, welcome to closing bell. i'm scott walker -- from the new york stock exchange. make or break hour begins with the s&p chasing history. the first close above 5000, very much within reach. we're gonna track every move over this final stretch. -- adam parker in just a moment. how high this surging stock market can go. in the meantime, a look at the scorecard with 60 minutes to go in regulation, we've got a lot on the move. take a look at this, nasdaq on the cusp of 16,000 again. first time since november of 2021. s&p is gonna close above 5000