stand out as the biggest global blockbuster, but these treatments require cumbersome injections. with lexarias patented oral delivery technology, early studies suggest a better way. lexaria bioscience. ♪ good afternoon, everybody. welcome to "power lunch" alongside leslie picker, i'm tyler mathison. nice to have you with us today and nice to have you with us today. two big stories dominating the market. that would be nvidia and the fed. but let's start with a check on the markets right now. they are higher across the board. the dow getting a boost from home depot, which was initiated

at buy at mizuho. mcdonald's higher after announcing ceo was going to add the chairman title to his accolades. despite the excitement surrounding n vidianvidia, the p less than 1% and other chip stocks are lower including a supermicro plans to add more shares. pharmaceuticals up 100% today. astrazeneca offering to buy the company for $2 billion plus another 400 million if milestones are achieved. fusion is working on new ways to target cancer cells. and with just 24 hours until we hear from the fed, that is where we're going to start today. so what will the fed do? and when will they do it? the latest cnbc survey showing the economist strategist and fund managers polled expect three rate cuts this year with the first coming in june. our next guest is in that three-cut camp, but with a

possibility of only two. let's bring in steven stanley -- you just saw him come in there, didn't you? you saw him shadow. you saw the shadow of steven stanley, chief economist. welcome. good to have you with us. nice entrance. >> really well done. >> thank you. smooth. >> that was like a soft landing i feel like. >> there you go. >> are we going to have a soft landing in the economy? >> giving you an illustration. >> that's how you do it. >> we going to have one? >> i think so far so good. we have a ways to go on inflation, too soon to declare victory, i don't think we're going to have a recession. >> and where were you a year ago? were you in the camp that believed that a recession was likely in '23 or '24, and have you changed? >> no, i was always a soft landing guy. i think i would -- >> you expect me as a harder landing. >> i think i would say that we've had better luck with inflation than i thought. i thought inflation might be even higher than what we've seen. of course, as i said, we still

have a ways to go. but, i think we made -- the fed made a lot of ground on that front. >> do you think the fed is going to cut rates aggressively this year or modestly this year? in other words, i would call three or more cuts aggressive, fewer than three modestly. >> yeah. so i think their plan is probably still going to be three. you know, when we get the dot projections tomorrow, i think that they're going to stick at three for the year. i actually -- i have them moving later than where most people think. i don't think they get started until november. so i only have two this year, but then quite a number next year. i think they will cut pretty steadily next year. >> do you think that those cuts coincide with potentially reduction in their quantitative tightening program in terms of just the magnitude by which they're rolling off that balance sheet? >> yeah. i think if it does, it will be a coincidence. i think that they're trying to run those two on separate tracks. they've said it's very possible that they could continue to cut the balance sheet at the same

time that they're easing, even though those two things seem to be at odds with each other. so i think the balance sheet will be determined by their view about how much, you know -- where bank reserves are relative to where they need to be and as long as there's excess liquidity in the system, i think they'll keep going with the quantitative tightening. >> how much of other forms of credit versus the traditional banking system play into that? i ask because coinciding with this tightening campaign, huge rise in private credit. you know, does that kind of do a disservice to the efforts that they are making in terms of quantitative tightening? >> well, i think it the makes the fed's job a lot harder. and i guess in some ways it's not all together surprising that we saw a big crackdown in terms of banking regulation after the financial crisis, as you would expect, and what happens more of the credit universe is moved outside of that tight regulatory environment. >> are you worried at all -- you said earlier that inflation has

come down, maybe more pleasantly than you had expected initially. are you at all worried about some of the recent inflation numbers that indicate maybe it's not a straight line down to 2%? >> yeah. i think people got a little ahead of themselves or a lot of people did in terms of inflation. we did have some low numbers in the core inflation figures late last year. i think what we're seeing is more of a normalization to where the trend is. i think the trend is probably 3, 3.5 and on its way down. but we maybe felt like we were -- i think people got a little ahead of where we actually were last year. >> do you think corporate profits will be strong enough to support a market that may not have the aggressive rate cuts that some had anticipated? >> yeah. that's been the big surprise, right? the economy has done very well. >> yep. >> very good economic performance last year. that's been accompanied by solid profit. so every quarter, you know, equity analysts get worried about the earnings numbers and

the earnings always seem to exceed expectations. >> stephen, thank you very much. that's great. appreciate it. stephen stanley is a soft landing guy. >> metaphorically and physically. so as wall street tries to predict what the fed will do next, how should you position your portfolio? let's bring in jim tyranny, cio concentrated u.s. growth within alliance bernstein. thank you for being here. so let's start there. how should you be positioning your portfolio? >> if we do believe in higher for longer and a stronger economy, i think you have to start thinking outside of ai, who can benefit from that reality? there are a bunch of companies that are benefitting from it and will continue and they really haven't been recognized in the market yet. so, i think there's a real opportunity. >> like what? >> one is adp. when you look at adp, a significant portion of their growth over the next couple years will come from float income with average duration of their portfolio over three years, it takes time for that

portfolio to reprice higher in terms of the securities. when that happens, that's almost 100% margin dollars thatfall to the bottom line. so that's a great opportunity. >> in terms of the potential risks to that, you know, as you look at the more momentum-based raise versus those that may be unappreciated right now, how do you see the risk/reward payoff looking over the next six months as we may some reduction in rates, a different picture on the monetary policy backdrop, you know, does that dynamic shift at all in your thinking of kind of where you see underappreciation in the market? >> i think earnings are going to be incredibly important in 2024. they weren't quite as much in 2023. certainly there was a huge spread between the magnificent seven and everything else. as that spread narrows, i think investors are going to start looking for what are the companies that have great earnings prospects. adp growing 14 or 15% last year, around 13% this year. i think that's a great

opportunity. you look at hooper companies that makes contact lenses. they grew 10% last year, probably 12% this year. that's well above what the market is doing, really strong growth. a couple of these companies have just been ignored so far. to me that's the opportunity. >> a third company you like is constellation brands. some skepticism they'll be able to machl their growth numbers from last year, but you disagree with that. >> i don't think they saw quite the benefit from the bud light share loss. constellation has been benefitting of a trend of consumers buying more mexican beer for well more than a decade. i think that continue. the knock on the company for years has been their capital allocation. the fact that there are now guardrails with a couple new board members and activist investor involved i think means very positive things for capital return to shareholders as they now delevered the balance sheet. >> as we look ahead to the fed, you're focussed on financials and specifically credit quality

against this backdrop of higher for longer, at what point do you see things deteriorating to the point where the fed may need to call an audible with regard to its tightening conditions? >> it's a great question. and if you look at some of the credit statistics, we've seen some worsening of conditions. yet it hasn't become a full-fledged panic. and i think that's one of the things that the fed has to be monitoring in terms of do we cut to preempt any kind of worsening. >> how are you thinking about the ai-related sector or the ai companies, anything that has ai in its names seems to be attracting a lot of money. are you chasing that trend or not? >> we don't love to chase anything. we certainly have some names in our portfolio that are exposed to that. microsoft would be an example. and eaten would be an example in terms of they're all involved in one way or another and seeing really nice benefits from that exposure. i think the rubber is going to

hit the road later on this year when investors ask, who really will see an earnings benefit as opposed to just an exposure. and certainly i think some of the disappointment last week with a company like adobe in terms of not seeing that benefit immediately, i think more of that will happen in the market as investors become a little more critical. >> as you examined what we've taken to refer to as the magnificent seven, are there any of the seven that you would absolutely stay away from? >> i wouldn't say i would absolutely stay away from anything. but i do think we're starting to see more of an earnings dispersion between the seven and a differential in performance. you look at the performance of nvidia and meta, which are both spectacular this year and look at the apples and alphabets and teslas that aren't quite as good. as a high active share investor i like dispersion because you can pick winners and losers. i'm much more pleased with the

environment in 2024 where we saw in 2023 where all boats were rising. >> you have to be choosy. jim, thank you very much. we appreciate it. >> thank you. coming up, speaking of nvidia holding an ai conference in california. did you hear about that? laying out its plans for the future to investors. we will share some key take aways in tech check. more "power lunch" coming up next.

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and are up slightly today, the second day of its hotly-watched ai developers conference. deirdre bosa joins us live from the conference for today's "tech check." hey, dee. >> day one it was all about jenson's keynote. day two, hearing from key players throughout the nvidia ecosystem and there are many. >> if you look at the things that we do, we build the chips, the systems, the networking and so on and so forth, the entire data center practically, all the software that goes into it. and then we sell it in parts. the reason we sell -- that is what confuses people. they think n vid y is a chip company because we sell it in parts. the reason we do is so customers can integrate it however they like in their data centers. >> reporter: so attendees range from the buzziest gen-ai startups to the academic pioneers of ai. really living up to its title

woodstock of a-i. there's a panel tomorrow brain child of jensen himself. it brings together key figures that co-authored a seminal academic paper years ago and went on to found current darlings like cohere and characterai. ten years from now, if you hand a kid a laptop from our current era, he or she will try to talk at it, kind of like how kids in the ipad era tried to swipe on any screen they see. yes, the big announcement here of gtc, the efficiency and power of nvidia black well platform but perhaps just as important are the startups and the companies and the individuals that are here that will be building and developing using it. that said, guys, everyone wants a piece of that nvidia halo, which has become so powerful. it makes sense to have a presence here at gtc. one essential ingredient that is very clear is the talent.

and getting the right researchers, engineers, data scientists. some operate almost has recruiting tools. another reminder of how important that is today with that big move to microsoft, hiring a deep mind cofounder as its head of airks. >> i'm sure at this point in time there's probably availability of people who are experts in this area because the technology itself is so nascent. interesting it serves as recruiting platform there and also interesting and the perfect microcosm of the fly wheel effect seeing from this ai rising tide lifting all boats. how much discussion is there, though, about protections, having in place a sense of guardrails for this industry. has that been a key topic at all? >> you know what, i would say this is more of a developer conference. while that is close to the top of many people's mind here, there was a little bit of that in the open ai session, they talked about building for the good of all humanity which is,

of course, the open ai mission, but this is very technologist conference, right? a lot of developers here that are just optimistic and eager to start building. i made the comparison to apple's wwbc when the app store was becoming the behemoth and critical tool it is now for developers. that's sort of what's happening here. you see developers and companies from all different industries just focus on what will be the killer application or hardware or whatever it is, but certainly in the background there is sort of the ethical questions that many will have to confront and are confronting now. >> deirdre, thank you very much. we appreciate it. deirdre bosa reporting from california. all right, nvidia's stock up today. pairing earlier losses as investors seem to shrug off the launch of its new blackwell gpu. our next guest, too, is not convinced the chip will boost sales enough for the company to maintain growth. his price target of $620 is the lowest on the street and more

than 30% below nvidia's current price. let's welcome senior software analyst at d.a. davidson. gill, welcome. good to have you with us. why do you think this stock could go interest where it is today in the high 800s down to 620. what's the problem? >> well, off lot of cognitive dissidence around nvidia. this year they'll have a fantastic year. you talk to their customers, they have five big customers that represent more than two thirds of their revenue, they'll buy a lot more gpus this year. this year will be great. our numbers for 2026, however, are lower than they are for this year. and if revenue peaks this year or next, it starts declining from there, the stock won't be able to hold on to these multiples. so these multiples right now make alot of sense if you're just looking at this year and where that trajectory is.

if you start looking at where we are going to be in a couple of years, it gets a lot trickier justifying these types of valuations. >> when you say 2026, you talking about their fiscal year or calendar year? in other words, is it two years until we start to see what you think will be a slow down in. >> the slow down is probably going to start in the next four to six quarters. but it is two years from now that we expect revenue to be down. while this generation of gpus and the next generation of gpus is the key to generating all this ai-activity, why this has been such a celebration of ai at this conference, the technology is moving very fast. i'll break some news for you. microsoft just released a research paper that says they think they can build a one byt-llm that is an order of magnitude more efficient. what that means is we may be

running inference on cpus in a couple of years or custom chips in a couple of years. these are not nvidia's markets. and so, if things are moving that fast and the direction they're headed is far more efficient models, it's very hard to have visibility two years out for this company. >> to build a large language model that operates on a simpler, less nvidia dependent chip structure? >> exactly. in fact, it's probably going to run on our device, hand set or pc where nvidia market share is far lower and the cost of the chips is far lower. and that's where we're really going to get the interesting tools. we talked about apple, the distance between us and where we are with apple and apple having a full-on snassistant on our phe is to ability to do on the hand set. that's where the technology is headed. nvidia's role in that world is much smaller.

>> is that where you see the decline stemming from, macro economic forces, like a potential recession, it's purely this competition idea? >> it's purely talking to their customers. if you listen to their customers, they'll tell you we're going to buy as many gpus as we can this year. we're going to stock up on them because we have a lot of demand for what they're doing for us right now. but going forward, we want to diversify away from nvidia. we want to make our own chips that we can rely on and we're going to develop the technology, the llm engines and generative ai engines that require far less compute that we can do a lot more applications and do them at the edge on the device. >> now, are these conversations taking place before this week's announcement, before blackwell? or is it kind of expected with the new iteration of products that nvidia has been announcing? >> no. these conversations have been happening because this is such a big exploding market.

and nvidia's customers are so large and have so many resources, they've been working towards those goals for several months now. and let's not forget that as far as they're concerned, if blackwell can produce 500% more compute and cost 50% -- only 50% more, they're going to get compute for a lot cheaper as well so, of course, they're happy with the new generation of products. but they're also working on making their models more efficient so they need less and less compute over time. >> so let me come back to something that occurred to me. that is you just used the phrase this is an exploding market. there's just a hunger for nvidia's chips today. it is not merely -- as you said huge percentage of their market is represented by five buyers. but there are lots of others who are either going to start buying or coming on stream and presumably will buy. you believe that that sort of mega-trend will be more than offset by some other changes in

the dynamics of this market, so their growth must therefore slow? am i understanding? >> yes. >> yes. >> yeah, absolutely, tyler. but beyond that, the five buyers that are buying these chips now are the five deepest pockets. the smaller companies -- even individual governments don't have as much money as amazon, apple, microsoft, google and meta. those are very deep pockets. and those are buyers that know they can get the return on investment right now because everybody is testing new ai tools and playing in the playground of developing these applications. once that activity settles down and we start getting on the more gradual assent of generative ai, then the demand is going to fall for them and it's going to take a lot of other customers to replace that demand, which isn't to say that generative ai isn't going to be transformational and a huge revolution and the biggest improvement to productivity since the internet.

it's just that that's going to take time. and right now we're going through this phase of experimentation. once that's over, we get into a phase of more gradual building, we may not need as many -- there may not be as many customers and certainly not customers with as deep of pockets as the ones that are stocking up right now. >> so i want to go back to your price target of 6.20 per share. you see it's currently trading around 900. so that represents significant downside. but you're telling investors to hold. so do you think that it's going to reach your price target in 12 months? or is it something where you just kind of think investors are more prudent to hang on and see what happens? >> yeah. again, there's kind of a short and long-term bifurcation here. all you care about is this year, you're going to get great results in nvidia. they'll exceed expectations next quarter and the quarter after that. that's why the current valuation makes sense if you're applying it to this year's earnings. if you're looking at the two, three, five-year time frame,

then you may be looking at an earnings number that's considerably smaller than what it's going to be this year in which case you're going to want to pay a much lower multiple. somewhere the middle between those two time frames is where we sit right now. and we obviously have to revisit that based on what we're learning. >> all right, gil, you've given us a lot to think about. appreciate it. >> thank you. jim cramer will sit down with nvidia ceo jensen huang on "mad money" tonight. that will be an intelligent conversation. >> absolutely. further ahead, the first major chips act award package set to be rolled out this week, but for the companies that won the big prize, how much did they spend on lobbying? we'll take a look at that roi when "power lunch" returns. ♪

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news pending. after session highs as canada's globe and mail reports the apparel giant has put itself up for sale after receiving interest from private equity funds. we've reached out to the company and will keep you update as we know more. mean time, bitcoin pulling back a bit today trading at 64,000 or 10,000 below the all-time high it hit just last week. that means volatility. and now the crypto currency may be a key player in the senate race in ohio, which could pit a crypto bull, get that, pit a bull, pitbull versus -- i don't know whether they intended that. emily will kin is more on the crypto candidates. >> hey, tyler. i'm in ohio, of course a key battleground state that could decide which party controls the senate next year. now, the voters behind me are deciding which republican is going to be going up against democrat senator sherrod brown, the head of the banking committee, pushed for restrictions on crypto. and that has put him in the

crosshairs of three crypto-backed pacs, which have raised 85 million. now, from coinbase, ipple, gemini, anderson horowitz and they're planning to play a big role in the 2024 election. they have yet to spend money in ohio, but a coin-based backed advocacy group called stand for crypto gave sherrod brown an f-rating. meanwhile, bernie has an a-rating. and if he wins today, he tells me that crypto will be on the ballot in the ohio senate race. >> this will be an issue. you mark my words. talk about 1.2 million people who own crypto in ohio, sherrod brown, career politician think hes knows best, this will be an issue we'll use against him in this campaign. >> reporter: ohio's race will help determine whether republicans control the senate next year. and brown is not the only democrat in a key state who would be targeted by these

crypto groups. staying with crypto, also given an f-rating to john tesser. two other states that are going to be very critical in terms the balance of the senate. guys? >> all right, emily. thank you very much. emily wilkins reporting. after the break, under the radar semi-industry play, down 5% for the year but with nvidia and ai transforming the chip space, could they be in a 'lsition to grow? wel speak with the ceo next. ♪

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mobile industrial robots unit. the universal robots nvidia announced a package of software and hardware accelerated that allows our customers to create solutions for the universal robot much, much more easily and for those solutions to run 50 to 80 times faster than the solutions did before. and these are tasks that our robots can do, but this is really making it much easier for them to do it and to do it for a wide variety of solutions. we have actually built nvidia ip into our robots for new product called the 1200 palette jack. the ai application in that vael cool because in the world when you're trying to move around things, it's very difficult to understand the -- how irregular things can be, how broken

palettes can be. we've actually trained this robot on millions of images of palettes. and then we're usiing ai to decide what a valid palette looks like and pick it up. we're really excited about the applications of ai. >> this will make robots faster in industrial applications, i assume. you mentioned palettes, which i assume is in a warehouse. give me another example of how this collaboration is going -- would be used in a commercial setting. >> sure. so, the example that's being shown at the ai conference right now is an inspection application, where the robot can be taught very quickly to look for what's good and what's bad in a particular part. and because of the ai, it's able to adjust to the normal variations and zoom in on the things that are wrong. so, it's much quicker to set up and it allows our customers to

achieve much higher quality. >> what does this mean for the labor force applications? are these jobs that a human would have done and now these robots are more sophisticated from a technology standpoint, or something that the robots were doing but just not as well as perhaps this new technology would enable? >> so it's definitely jobs that robots have been doing before, but the real thing that's limiting the growth of robots is how much work it takes to actually program a new solution. and ai is going to allow us to do that kind of work much more quickly, which means that there are more types of these jobs that can be done. now, about the labor implications, that's really interesting because in the united states right now, there's over 500,000 open jobs in manufacturing and logistics that people just can't find workers that want to do the job. so there's this almost

unsatiable demand for automation to try to address that. so we're not putting people out of work. we're actually helping to grow industry by doing jobs that they can't find people to do. >> and when i hear ai and robots coming together, it kind of reminds me of a sci fi movie. what do you think the future of this looks like, both from a safety standpoint as well as an ultimate potential standpoint? >> oh, i think the safety aspect is really interesting because our robots, both our mobile robots and universal robots, they have a built-in safety system. and that safety system is completely separate from the ai stuff that goes on in the robot. so, we're able to prove and certify that those robots are safe in a production environment. as we go forward, we'll eventually have to develop those kinds of standards for the

humanoid robots that people are working on. but this is proven technology and we have a really good way to bring ai into manufacturing in a very safe way. >> what about -- i guess in testing you mentioned that as -- a moment ago, a robot, and you can enhance a robot's ability to look at a part and find and detect a flaw in that part. that's a huge advancement, i would assume, for industries that use your robots or use robots generally. >> well, the field of computer inspection has been around for decades. and there are a lot of conventional algorithms to try to support that. what ai really allows you to do is to use computer inspection on a much broader range of things and make those practical for -- like it's easier to implement. so you're able to use it in more places and achieve higher quality for a broader range of

parts. >> it was recently reported that you moved production about a billion dollars worth to china due to u.s. export controls particularly involving the semiconductor industry. you did have emergency authorization to continue this activity. so i'm just curious as we try distill what's going on with geopolitics why you made the decision to pull manufacturing from that region. >> i want to make sure that people understand how deeply teradyne is committed to the customers that we have in china. we have 600 people in china. we have, you know, about 15% of our business in china. and we value those customers and those customer relationships. from a production perspective, we have supply chains that are in china and will stay in china. the only thing that we moved was the final assembly of some of our products. and we did that because we need to make sure that we're able to produce those products in multiple locations. we have a commitment to our

customers. they rely on us to be able to supply equipment and meet their biggest demand ramps. and in order to do that, we really needed to qualify additional production locations and we also needed to make sure that we were assured of being able to supply that independent of what happened with geopolitical concerns. >> have you decided where you're moving that to yet? >> oh, yeah. it's complete. we moved it to other locations in asia. >> interesting. greg smith, thank you very much. wide ranging discussion ai, china, robots, the future, i learned a lot. >> yes, absolutely. coming up -- thank you again. coming up, chips on the table. funds from the ground breaking chips act are rolling out this week. we reveal the players who spent the most on lobbying for their piece of the prize when "power lunch" returns in two minutes.

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helped spur a chip revolution. we have been talking about it a lot today, led by nvidia. and at least partly funded by the government, which has been and will continue to hand out billions as part of the chips act designed to boost the u.s. semiconductor industry. here is how much that free company is costing companies. a lot of lobbying. >> where there's federal money to be had there will be lobbying. we have seen a sharp increase in lobbying smending as companies competed for these awards. intel they're on track to get the first multi-billion dollar award set for tomorrow. they spent around $8 million in the lobbying in the two years just before the chips act was passed. but as chips was being negotiated and then implemented in the two years after that, they spent nearly $14 million. so we have seen an 80% jump there. also in line for a big award, we have samsung, their lobbying has been up more than 70% in the same period and seen this really across the board with a bunch of

these companies. these figures are total spend but their lobbying disclosure form show us the chips act funding and implementation has been a top issue. guys, we are expecting intel to get roughly 10 billion in grants and loans tomorrow. that doesn't leave too much on the table for the other companies. that's partly why we're starting to hear talk about a chips act round-do. >> it's a lot of money, but you mentioned as we went to break that return on investment could be pretty good. you get 10 billion for spending 8 million or whatever it is. >> it seems like it will be worth it. there are strings attached to a lot of this money. other things that other hurdles that companies have to roll through, but they've clearly made the gamble that this is going to be worth it for them. >> no money is free. >> right, no free lunch. >> exactly. for the future now, now that a lot of this is being implemented, do you expect to see a big drop off on spending in lobbying? >> that will be the interesting

thing to watch. because like i mentioned, we don't know this is the only thing they have been spending on. company like intel lobbies on all sorts of issues. we have a reason to believe it will drop off. so this is one step they had to get through but we expect it should drop off based on this trend, right, as they now successfully won their award. >> yeah. certainly seems like it paid off. megan, thank you for being here in person nonetheless. >> nice to have you in the big house. >> come back any time. coming up polarizing picks. stocks that wall street has very divided opinions on. we'll ask your trader to take a stance on some of these in three-stock lunch. as we head to break, we're sharing the stories of some of our newly-named cnbc change makers. here is priscilla, fannie mae ceo. ♪ >> to me a change maker is someone who sees an opportunity

to make things better. i've also been told that for real change you have to accept that it doesn't have to be perfect but don't let perfection be the enemy of the good. and i remind myself that life is fleeting. and when you get the chance to affect change, you should move with real urgency. ♪

♪ it is time for special addition of three stock lunch today, we are diving into three of the most divisive names or analyst. cnbc screamed the entire russell 1000 and is that with the new article listing 25 battleground stocks. they have at least 20% i and 20% sell ratings from analyst, scott nations resident joins us now with renames from atlas. thank you for being here. first up is ibm. that one does not surprise me as being divisive. it sharing over 55% for buy, but analysts believe it is the time to sell the stock. do you agree?

>> no, i think they are wrong. ibm is a buy. it is found his way out of the wilderness. is because of consulting and cloud businesses, they are robust. is not your parents ibm. for every one dollar revenue they will go three dollars -- in revenue. still reasonably priced despite the big run-up, a forward pe of 19, 3.5% annual dividend yield. the only question for ibm is how much a.i. is going to be able to add. >> up 50% in four months, that is quite a rise for stock that has been in the low for a time. the next we have, mohawk injury -- industry. -- up 50% since the start of november, like ibm. but analysts are split about buying or selling. scott, having hit the ceiling?

>> not yet, tyler. this is a buy. it is the sort of boring company that makes investors rich if they can hold it for a long time, having bought it at a good price. let's talk about price for a pe, just 12.5. eps forecast for the next three years are robust. expected to increase well over the next three years. still well below the 220 ojai -- hi in 2021. we will not stop buying flooring products. >> putting the floor under that stock there. finally, we have so far technologies. the most beaten-down name out of the three. shares are down double digits over the past month. nearly 30% since the start of the year. speaking of 30%, that is the percentage of both the buy and sell rating. scott, analyst may be split on so far i. >> this is a cell.

it's a purely online financial services company. no one has made that work. despite the decrease in price, it is still expensive. the price-to-book is 1.3, more than bank of america. and that is double what citibank is doing for ustomer acquisition costs in this space. they are enormous. there is nothing that sofi can do that the big banks cannot do. the company is also paying 10% of its market cap for that nfl stadium naming rights deal in southern california. yes, it is already down 30% year-to-date. 17% in the last 30 days. that does not mean it cannot go lower. >> thank you, scott nations. for the full list of battleground -- check out the cnbc pro article at cnbc.com. we will be right back. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis,

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we only have 90 seconds left in the program. several more stories i would like to tell you about. sure that norstrom are soaring. the chain is attempting to go private. reuters reporting they are working with morgan stanley and investment bank centerview partners to gauge interest in a potential deal from private equity firms. a previous effort to take norge from private, they have been down this path a few more times, it recently fell back in 2018. >> that was at eight billion- dollar evaluation. unilever shares higher -- after spinning off its ice cream unit which includes ben & jerry's and the magnum brand. it is part of a restructuring effort it will -- that will affect 7500 jobs. and should have cost savings of over $800 million. you'll ever expect completed by the end of 2025. >> -- >> batlike $8 million. >> there could soon be a pill

for that, sciences from the school of medicine in st. louis they they have created a new compound that mimics the physical benefits of the workout . researchers say can one day be the foundation of a supplement that can replicate some physical benefits of exercising. it might help people with muscular atrophy from aging or disease. >> amazing. >> thank you for watching. welcome to closing bell i'm mike sent holy and first got -- more resilient and more rotation keeping the key and nexis right up against a.i. nvidia -- you can call it a struggle on the news event for -- investors. is not open at 1.4%, it was down 8% earlier but not far from the flightline. between small gains and losses. however, the rest of the semis are pulling back