good afternoon welcome, everybody, to "power lunch. alongside julia boorstin i'm tyler mathisen glad you could join us and this is the big story everyone is talking about today. a ship crashing into the francis scott key bridge in baltimore on the baltimore beltway, destroying it literally in seconds. we will get a live report from the scene and look into the economic disruption as well. >> but first let's check the markets. stocks slightly higher, shares of tesla are higher despite noted tesla bear tony sag nacki saying the stock is still overvalued, cutting his price

target even further down to $120 a share. it comes as elon musk wants to provide drivers with a free month of the company's latest driver assist system >> we begin, however, with that baltimore bridge collapse. and let's get rate to eamon javers, who is there at the scene. hi, eamon. >> tyler, still six people unaccounted for here in baltimore, maryland. and we've seen the coast guard helicopters circling the scene here all day through the morning and now into the afternoon looking for any potential survivors, any victims of what happened here this morning take a look at the ship behind me, and you can see the scale of what happened here this container ship still wedged under the bridge some of the wreckage of the bridge actually on the bow of the boat and you can see those containers there. they're still piled six, seven containers high. this was a massive amount of mass that impacted that bridge, and you can see the bridge structure itself there collapsed onto the bow of the ship and the

highway now, highway to nowhere jutting up into the air. that's where the bridge would have been and was until 1:30 a.m. last night. we did hear from president joe biden a short time ago at the white house suggesting that the federal government is going to pick up the tab for rebuilding this bridge here no estimate yet in terms of the timing of how long all this will take first of all, the search and recovery effort. secondly, getting that bridge wreckage out of the water and getting that area clear. it's about 50 feet deep in the water right there. so getting that -- all of that wreckage out is going to take some time. and then reopening the port. but you did hearthe president of the united states saying that he is going to make sure that the federal government pays for all of this. here's what the president had to say earlier today. >> around 850,000 vehicles go through that port every single year and we're going to get it up and running again as soon as possible 15,000 jobs depend on that port. and we're going to do everything we can to protect those jobs and

help those workers >> reporter: so the president there talking about the economic impact of what we've seen here obviously, a human tragedy has occurred here today. but also a massive economic disruption here up and down the eastern seaboard i asked maryland governor wes moore earlier today his estimate of timing to get this port reopened he said they are just focused on search and rescue at this time but that port is now a bottleneck and nothing is coming in or out of it anytime soon, guys back over to you >> getting the port up and running is one thing and obviously critical for the regional economy but also getting that road, which is basically the baltimore beltway, around the south and eastern side of the city back up and running. that could take a very long time >> absolutely. you're looking at years here, tyler, and potentially billions of dollars before this is all said and done. the impact from the traffic perspective, you heard the president talk about the vehicles that come in here in

terms of sales into this port. it's about 30,000 commuters every day going over that bridge fleechbt years you're talking about a lot of extra traffic now diverted onto i-95 which is the main north-south corridor on the eastern seaboard all of that going through the baltimore tunnels. that is going to potentially impact traffic in the baltimore area, transit between washington and new york, all of the trucking that happens up and down 95, all of that subjected to those delays as well, tyler just a massive, massive disruption here in baltimore >> it's amazing that more -- i can't really tell from that video that we're showing right now how many of the containers fell off that ship but it's amazing that more didn't i mean, when you consider the impact -- >> yeah, we had -- >> go ahead, eamon >> yeah, we can't tell from our vantage point. there's a coast guard helicopter here coming over just as i'm talking. we can't tell from our vantage point how many of the containers may have fallen off the front end of that ship but the back end of that ship is piled high as you look at the coast guard

still circling the area here looking for any survivors, getting an assessment of the wreckage, trying to figure out what the best plan of action here is to remove all of that wreckage but you can see the containers piled on the back of that ship, tyler. six, seven containers high this was a heavily, heavily laden vessel and that just gives you a sense of the weight and the mass of that vehicle as can impacted the bridge and why that bridge just couldn't take that impact. >> all right eamon javers, thank you very much amazing story here let's turn to the financial impact and the disruption this will have on shipping and logistics. laurie ann la rocco, cnbc's global supply chain reporter joins us now good to have you here. let's set a little level here. how big is that port and what are the major items that come into and go out of it? >> sure. so the port of baltimore is the 11th largest port in the united states but it's critical to our imports and our exports, and here's why. it is the largest importer and exports of all automobiles and light trucks >> larger than the port of l.a.?

>> yes, it is. in terms of exports and imports it is the largest. roll on and roloffs. it is also the second largest port for coal exports. so that is very big for our gdp. and so this combined, between the commodities as well as the containers you've got home depot. you have ikea. you have agricultural products you have bob's furniture all of these retailers are bringing their product in into this port and then they disseminate it out to the rest of the united states >> so you look at what can happen now, where do all these shipments go in and out of now as everything tries to rebuild there? >> sure. sief spoken with ocean cares which of course is the one chartering the vessel here they're already diverting the vessels to the ports of new york, new jersey virginia as well as savannah and all of the ports have told me they definitely have the capacity of receiving the products, particularly when you're looking at the

automobiles, when you're looking at savannah and the other port down there the problem is the rails the rails have to now reconfigure the equipment, the chassis to get to these ports to receive the extra containers so while the ports can receive it they have to then push them out of the -- >> maybe you don't know this or maybe you do i can imagine that there may be vessels that are actually in the port of baltimore. and it's also a cruise port. >> yes >> vessels in the port of baltimore that can't get out >> most definitely you have them, going by memory here, you have about five vessels that are currently stuck in the port, nowhere to go and then you've got royal caribbean and you have carnival. and so it really is amazing to see how one port, even though people say oh, it's just the 11th largest port. it's extremely significant to the economy. >> you were mentioning earlier off camera ethanol, which comes in and out of there, is then taken i guess to refineries in

the region and blended into the gasoline people on the eastern seaboard use >> yes when it comes to the local area, so it's not going to be a nationwide type of problem but in the local year for baltimore their ethanol is brought in by bulk, by a bulker vessel so now you're going to have to have ethanol diverted from philadelphia to drive around the long way to get in there so the ethanol can be blended into the gasoline >> now, obviously this all just happened, but if you had to look ahead and say what the impact would be on corporations, both those that actually have sort of an investment in that area, and also on consumers, what should we expect? are we talking about delays? what else? >> it's definitely going to be delays and now you're going to have the logistics managers, the compounding effect of -- particularly with the automobiles. they are just in time. and so now these vessels that are stuck on, you know -- that were banned for baltimore have to go now to another port and have to wait to get onto a railroad chassis so it's going to be hurry up and wait

and then there's extra costs added for the diversion and for the diversion from the vessel as well as to truck or rail >> all right lori ann, we know what you'll be covering for the next few weeks. lori ann la rocco, thank you let's shift over to a major stock mover. check out shares meantime of krispy kreme, higher by more than 20% after a brief testing period mcdonald's is going to expand its partnership with kris pi to all of the burger chain's burger locations by the end of 2026 kate rogers has more kate >> hey, tyler and julia. krispy kreme is going to be doubling its distribution to make this happen and mcdonald's will be its exclusive fast food partner. the donuts, glazed, chocolate sprinkle and chocolate ice cream, are going to be delivered fresh to mcdonald's restaurants every day. the test between the two brands began in 2022. it was originally at 160 stores in lexington and louisville, kentucky consumer excitement and demand exceeded expectations. the two companies said in a release today. now, the initial pilot restaurants will continue to serve the donuts as the rollout

is phased in mcdonald's has been leaning into coffee and some specialty drinks at its new cosmic's locations in illinois it'slights slimmed down its own cafe menu in recent years. in a research note on the deal cal nousky equity research said as best it could tell the test wrernts were selling an average of 00 to 900 donuts weekly adding quote one of our industry contacts calls this quote better than any baked goods that mcdonald's has sold before now, what's more, the firm says if the donuts were sold at 10,000 to 13,000 mcdonald's restaurants this may suggest an incremental annualized addition to mcdonald's u.s. systemwide sales of between 550 and 750 million dollars. it also notes these sales were incremental, which is good news for mcdonald's importantly, the donuts will be sold all day at these stores, of course, while supplies last, guys back over to you >> so kate, i understand why this makes sense for mcdonald's with the amount of coffee they sell obviously this is great for krispy kreme we've seen that stock move

higher on the news but what does this say about mcdonald's and what it's done around healthier food? we've heard about parfaits and salads does that mean those days of healthier fast food are behind us >> i don't think they're necessarily behind us, julia but remember, krispy kreme has struggled a little bit too as we've talked about some of these weight loss drugs and what that means for companies like this. i think my takeaway in covering the sector here is that mcdonald's is looking for simple additions that will drive incremental sales. and i know that's something franchisees have been looking for as well. you know, things that are easy to make, boost sales additionally, and who doesn't like to grab a quick donut on the way out with their coffee? we know people are snacking more and also leaning more into beverages post-pandemic and this could be a good move for both companies here >> kate, thanks so much for joining us with that story >> thank you and coming up, the growing value of tech infrastructure cfra out with a new note detailing some of the possible long-term winners of the ai boom plus direct deals on the rise. private equity moves climbing from 6 billion in 2019 to 31

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welcome back to "power lunch. mega cap tech stocks have dramatically boosted investments in recent years and are showing no signs of slowing down, according to a in you note from cfra research. amazon, alphabet, meta and microsoft are expected to spend more than $175 billion combined this year with even more expected in 2025 joining us now is the author of that research note, angelo zeno. he's the vice president and senior industry analyst at cfra research covering tech hardware, software and semiconductors. angelo, tell us what is driving the spending this year is it all about ai >> well, that definitely is a big part of it so when we look at the capex environment here in 2024 we're looking for growth of about 25% or so. that actually follows a year in 2023where it was roughly flat

or so. last time we saw a flat kind of capex environment was about 2018, 2019, and we all know what kind of led -- what -- that was a strong pandemic. you look into 2025 our view is low double-digit growth. of course the ai spend is going to be a big driver of that but just an overall recovery in kind of server spending will also help that when you kind of think last year. we actually saw a sharp decline in terms of server spending overall. and a big reason for that was just because of the digestion that we needed to see in terms of some overcapacity on that side of things but kind of looking ahead it's going to be ai-driven. it's going to be kind of just your natural data growth that we've seen kind of over the last two-plus decades out there growing north of 20% at an annualized pace. and then ultimately it's just improving free cash flow growth from each one of these companies. i mean, when you kind of look at the fundamentals for each of these companies, extremely strong in nature and that's going to drive higher

spend, we think, as historically has been the case. >> but this also comes after meta had its year of efficiency and just said going forward we want to operate as leanly as possible, and we heard similar message from other tech giants they're trying to be lean, and they're also trying to chase ai growth i guess the question is after this big sort of bounceback in growth you expect this year are we really going to be able to see such sustained growth rates as these companies try to be more efficient with that capacity and rein in costs >> so i actually think p efficiencies are actually are supporting the cap ex spend out there. when you think of what happened in 2022 into 2023. to your point each one of these companies really focused on those cost efficiencies actually improved the profitability metric of their individual companies. actually improved the free cash flow potential going into '24 and 2025 our view is we're looking for is this capex spend sustainable we think so. the magnitude of the spend isn't

sustainable in terms of 25% plus growth but we do think 10% to 13% growth is sustainable going into 2025 a big reason for that, again, is that free cash flow improvement. and a big reason from that also has to do with those efficiencies that they focused on into 2023 and into '24. and again, we do think those efficiencies are going to continue to be focused on going forward with an emphasis in an ongoing shift toward the capex spend environment. >> where are these centers located that are being built geographically around the country and the world? and is the power infrastructure adequate to service them >> yeah, i mean, that's a question we get a lot of in terms of the power infrastructure and i think that would be a great question for our utilities analysts out there but as far as what we can see out there, i mean, there are clearly some concerns out there. our view is it's probably going to be adequate over time these companies are all looking for different ways to kind of meet some of those power needs

when you think about a company like meta, they've kind of looked at things like nuclear out there. each of these companies are going to continue to figure it out at some point in time. but from a technology perspective, you know, if you look at the likes of nvidia, the arms of the world, in our view growing more arm-based servers out there will definitely help a lot in terms of those initiatives. and then kind of where these data centers are located, i mean, they're all located all over the u.s i mean, obviously areas like north carolina, what have you, big areas in terms of the data center structure but you kind of listen to jensen huang out there this whole ai theme is going to be bigger. we're going to see these data centers built all across the globe in every single region of the world. >> angelo, you had a list of companies that are going benefit from this, amazon, microsoft, nvidia and a couple others can you tell us which one or two are going to benefit the most from this trend you see? >> yeah, athlete themes we continue to look at is compute,

networking and memory, which has kind of been the three areas -- the three winning strategies here over the last 15 months or so we think that continues going forward. we do like micron a little bit more than all the other names right now in the sense that we do think there is a rerating taking place and we don't think kind of the story has been told as well in terms of the memory theme out there. but also kind of the marvell is another name that we like a lot that we think is a bit underappreciated they've been hit big-time here over the last couple of weeks because of some of the struggles and kind of their non-ai businesses we think the entry point is really interesting at this point in time. >> yeah, marvell technologies up over 3% today. thanks so much for joining us, angelo zino. >> thanks for having me. >> all righty. the work force has drastically changed over the past four years, whether due to covid, hybrid work models or ai but amid all of this women-owned businesses have climbed 14% since 2019 details on that story further ahead. we'll be right back. at pgim, finding opportunity in fixed income today,

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so maybe the biggest issue today that moved markets, yields to the down side, that is, was the five-year note auction at a record size 67 billion the investors showed up. and it was an above average demand at 1:00 eastern look at the intraday of 5s you can clearly see at 1:00 eastern yields dropped now, when you pair today with yesterday what's fascinating is that all maturity treasuries at one point today earlier in the session traded above yesterday's highs. that's important for momentum, meaning higher highs, and of course the price was a bit lower. but after that auction things eased back a bit as a matter of fact, right now you have the maturities right around 2s, 3s, 5s, lower yields on the day while the longer maturities have slightly higher yields on the day. but maybe the thing to pay attention to most is trying to handicap which central back is going to follow switzerland. is the eu going to lower rates before the fed is the bank of england going to

lower rates before the fed markets are starting to weigh in on that to some extent if you look at the difference between the u.s. ten-year and the european ten-year known as the bund, the german credit, you'll notice that the difference right now is the widest it's been in five weeks, so over a month, and that difference is approaching 2% we definitely want to pay attention to this. their yield's around 2 1/4 ours is around 4 1/4 235 for them 4 1/4 for us difference at the moment around 190 basis points tyler, back to you >> all right, rick, thank you very much. rick santelli. traders are going cuckoo for cocoa. i guess i read that. commodity hitting a record high in what's shaping up to be the hottest trade of the year. pippa stevens is here with more. tell us about it >> everyone is always blaming the weather for all of their problems but this time it really is about the weather. specifically climate change. cocoa production is very concentrated in west africa, with 3/4 of world output

changing weathers patterns are causing diseases and impacting the soil leading to another poor harvest. the international folko organization forecasts an 11% year over year drop in production for a third straight year of shortfalls the result is cocoa surging above $10,000 per metric ton for the first time ever. earlier today more than doubling this year and tripling over the last year as these supply issues weigh. now, this is a very small market and is not widely traded, meaning it is vulnerable to price swings driven by financial players and speculators. and some of the largest chocolate companies like hershey and mondelez typically have hedging strategies in place to manage these swings, but higher costs will likely be passed along to consumers and in terms of where prices could go next, td asset management's humza hussein said it is anybody's guess, noting the market has basically become unhinged >> has it already started to show up in the price of chocolates >> you think about

shrinkflation, you're getting the same price of chocolate but it's smaller so companies are trying to manage those costs and they are hedged so they're not exposed to all of these price swings. but at a certain point those costs do get passed along to the consumers, so higher easter candy. >> so as a consumer of chocolate i'm invested in this one, particularly invested in this one. but my question is you mentioned global warming does this just mean with global warming there's going to be more volatility in prices are bound to continue to increase? >> i think the thing with this crop specifically is it is so concentrated in west africa and ka kao trees can really only grow 20 degrees north or south of the he can waiter they're a very highly specific krupp. what humza hussein was telling me is he thinks the soil has been permanently changed it wasn't that it was too dry last year, they got too much rain in short concentrations it's not ideal for these crops but beyond just cocoa you see this in special commodity, very small larkts like lithium, uranium if they are concentrated in one area if there's any impact in that region it does lead to these crazy kind of out of whack price swings.

>> so much risk tied to that global warming thanks so much, pippa. really appreciate it and as we head to break, a quick power check on the positive side cd technology morgan stanley upgrading it to overweight citing ai's potential to boost earnings on the negative side ups having its worst day since its earnings in january despite these results shares are moving lower after announcing a new one plus two plan. this is the goal of growing volume by dollar, then growing volume with a focus on margin. that's your power chec 'lbeight back.

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goose announced today it's cutting 17% of its corporate workforce. that move follows a string of layoffs from other retailers this year as people pulled back on discretionary spending. and buckingham palace announced today that king charles and queen camilla will attend an easter service this sunday it would be the first major public appearance from the king since he was diagnosed with cancer last month. prince william and kate, the princess of wales, who's also undergoing cancer treatment, are not expected to attend julia, i'll send it back to you. >> thanks so much, contessa. now take a look at shares of medical device maker shockwave medical. shares are surging on news johnson & johnson is in talks to acquire. shockwave was briefly halted for volatility earlier this hour now the deal could be finalized in the coming weeks according to the report sh shockwave telling cnbc they do not comment on rumors or speculation. we've reached out to johnson & johnson as well. meantime the high interest rate environment is having a big

impact on private equity the number of private equity-backed deals globally dropped to under 6,000 last year from a peak of more than 10,000 in 2021. but one so-called niche area that is growing is the number of so-called direct p.e. deals. essentially that means a capital raise for a single company outside of a traditional fund structure. more than 700 companies were acquired by private equity in this type of deal last year compared with over 200 just five years ago. and the annual value of these deals directs has also soared from 6 billion in 2019 to more than 30 billion last year. here on set to talk about what this means for investors is matt swain, ceo of the direct pe firm triago being acquired by the california investment bank houlihan lockee in a deal that will close next month. let me make sure i'm understanding what a direct deal does in a traditional private equity format the private equity company, whether it's blackstone or carlyle or any of the names

we know, assembles a fund of money drawn from institutions, private sources, family offices. and then they go out and they find companies to put that money to work in under your model it is inverted. you find the company first that you want to target and you then go and get, solicit capital from private equity -- from private investors, institutions and so forth. am i right on that >> that's exactly right. again, a direct is raising capital around a single company outside of a fund structure. most structures today for private equity funds are what is known as blind pool. blind pool means that you raise money around a sector in industry you know the thesis behind what you're investing behind but you don't know the actual companies that you're going to be getting exposure to. directs turns this on its head you are buying into a very specific company that you know will fit within your portfolio >> and the money then gets to work i assume quicker because often in those private equity

funds the money can sit for a while collecting a fee for the blackstones of the world but not really being productively put to work am i right on that >> absolutely. do you know how much blind pool capital is currently sitting on the sidelines? >> no idea >> $3.7 trillion more than the gdp of france. i mean, in this type of northwest you can't have that much money sitting on the sidelines paying a fee to private equity firms you have to be able to invest it quickly. and your money has to grow especially with 4% or 5% type interest rates >> so walk us through some of the advantages, though, not just for investors but also for the target companies of going this route. >> yeah. these deals are categorized more by operational value add you know, not all private equity funds are getting it wrong the ones that are trying to generate returns through financial leverage, they are getting it wrong but what i would tell you is true of these private equity deals or direct deals is that almost all of them are focused on adding value to the company on a day-to-day basis.

you have these managers actually moving on site, taking interim roles at the company, trying to find customers for these assets and that's really what characterizes these type of deals. >> so when you target a company that you're going to put capital into, are you targeting companies that are, quote, distress situations or are these successful companies that are growing and you think can grow even faster with your infusion of capital that's question one. question two is are those target companies welcoming to the outside capital that you're bringing >> it's a good question. i would tell you these tend to be lower, middle market, middle market buyout companies that are profitable they have to have some type of runway of growth if they don't have a runway of growth, quite frankly investors aren't interested. managers tend not to be interested this is not the best structure for them so as it relates to number one, it's a profitable company that has a long runway where you can invest behind, usually with some type of macro tailwind >> and then in terms of what this means for the incumbent firms, the blackstones, the

apollos, are they doing this as well or do they see you as a threat in the fact that you're doing this >> look, i won't comment specifically on any large cap buyout firm. but what i will tell you is they're cognizant of the space a lot of these firms are actually looking into the space. you may have seen recently, tyler you just mentioned it, we just sold to houlihan lokey. some of the competitors during the actual sale process of triago were buyout frmz, these large private equity firms that wanted to know how to best access these type of deals because although the results are early -- >> they want to continue those kind of deals. they don't want to squash you. >> they do not want to -- >> because you're the goose that's killing the golden egg. >> we're still a small part of the private equity fund market we're about $31 billion of deals whereas the private equity fund market is $800 million of deals. but what i would tell you is there's just a lot of alpha in these deals and if they can unlock that alpha they want to play in that space >> let me come back to a question -- i think i cut you off before you got to answer it. do the companies that you're

targeting, those middle market firms that are profitable that you think can benefit from the infusion, are they welcoming to your involvement or that of investors a, b, c, d, and f? >> these investors tend to have great alignment with the -- >> you're not blowing out existing -- >> no, almost never. we're working alongside them and characteristic of these drenthe deals is is helping the customer base grow or helping these type of companies overcome the biggest problems they're facing literally on that day-to-day basis it's actually the opposite usually they're waving us in with open arms >> i can't help but notice that you're hardly a gray beard how old are you? >> around 30 how about that >> how did you get into this >> you know what a lot of great people in my life a little bit of luck, to tell the truth. but in all honesty this isn't rocket science i mean, we noticed a macroeconomic trend of investors wanted less of a filter between them and the companies that they were investing in. >> and finally, how do you make money?

>> we generate the ecosystem so in short, we're banking these transactions we are matching the buyers, which are investors, with the sellers, which are the actual managers, taking a transaction fee and usually rolling a portion of that transaction fee into the companies going forward. >> so you invest in those companies. >> very often personally as well yes. >> matt swain, thank you >> thank you >> continued good luck >> and coming up, call it a comeback a new report from wells fargo highlighting the tremendous impact that women-owned businesses have had on america's post-pandemic recovery we'll bring you the key findings when "power lunch" returns

welcome back the pandemic upended operations for small businesses across the country. but from those challenges entrepreneurs did what they do best, look for opportunity a new report finds that women are leading the charge cnbc's kate rogers is here with more kate >> hi again, julia

the data show that women seized the opportunity to launch new vent yushz during the pandemic at nearly double the rate of men. data from wells fargo show new business starts from 2019 through 2023 were up nearly 14% for women. that's about double what we saw for men. what's more, growth rates for revenue and employment are even higher for businesses that are boned owned by black and -- this is key for binses owned by women and minorities disproportionately impacted early in the pandemic and less likely to receive paycheck protection funding ruby taylor who is a former school social worker runs the financial joy school which aims to close the financial wealth gap and create a new generation of black investors taylor has overcome not only funding challenges but also a traumatic brain trauma in 2012 that drastically altered her life she learned about long-term investing from the parents of a former student and got her idea to launch her business from

there. >> when my financial situation changed and i began to invest and then i saw my money grow, i'm like this is so dope so i am on a mission to create a financially equitable world where everybody can build generational wealth no matter your income. >> now, ruby graduated from milestone circles, which is a program presented by the nasdaq entrepreneurial center it's also sponsored by wells fargo. it helps owners find new pathways to funding. that is very key, julia, in overcoming some of these barriers for owners of course as they look to grow their businesses back over to you >> kate, i love this optimistic positive news. but i wonder how it interacts with all the data we saw with women leaving the workforce during the covid pandemic. does this mean that women after they left the workforce re-entered as entrepreneurs? and how much are those two things related >> i think that they're

certainly related. so the labor force participation rate for prime aged women is still lower by about 10% than it is for men it's nearly 90% for men right now. just under 80% for women but we know about 1 million additional women age 25 to 54 re-entered the workforce since december of 2019 and if you look at those new business starts, nearly 14% for women just about 7% for men, julia, you have to put two and two together and notice here that they aring lauchgs more -- >> do women still struggle to raise capital for their businesses >> oh, certainly there are definitely big gaps there in terms of women's ability to raise in comparison to men and also i mentioned some of the gaps that we saw with the ppp program that we covered so closely here on cnbc for women and minority-owned businesses not accessing that capital at the same rates that male-owned businesses were. but if you look at the numbers they're really roaring back here which is great news. >> great news indeed thanks so much, kate and we will be celebrating cnbc's inaugural changemakers, women transforming business list

that's coming up in a new event in new york city on april 18th to learn more go to cnbc.com/changemakers or scan this qr code and as we mark women's heritage month we are sharing the stories of some of our newly named changemakers here is priscilla simms brown, amalgamated bank president >> i think for everyone there's that secret sauce. and i think everyone has their own superpower you are enough you don't have to be perfect, and you don't have to fulfill a certain mold i have to say, today i really think a lot about the younger people, like my daughter, faith, and so many of her friends who are taking on the world in a brand new way. i find them incredibly inspiring. rylee! from rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal,

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welcome back to "power lunch," everybody. time for today's three stock lunch. and here with our trades is malcolm etheridge, cic wealth management executive vice president and a cnbc contributor. first up, malcolm, welcome and first up, visa visa and mastercard settling now a long-running lawsuit agreeing to a $30 billion settlement that is going to lower those

so-called swipe fees shares of visa are higher today, presumably in part by a little bit. what' your trade on visa >> i think this is a buy despite what you just mentioned with some of those swipe fees potentially coming because they sit in the middle if each of those transactions that you and i make. i think this is a great one to hold long-term. and i think it is one of the better to own, probably safer than one of the big banks because it doesn't have the interest rate sensitivity that a lot of financials do. >> next, mccormick. this pacemaker benefiting as more consumers eat at home. mccormick reporting net income

over year and shares up 10% today. what is your take on this one? >> i actually like mccormick. this one is basically beat up for about two years. they hit the all-time high in march of 2022 and got cut in half since then pretty much. i think mccormick is one we should at least consider. as the markets get wobbly, we have an election coming up. we know volatility happens in election years and investors go seeking security. the staples will be what investors look for an mccormick is a great one in that space that doesn't have too much trouble competing with names like walmart and target that have offered private labels since the covid pandemic caused people to go down market a little bit. >> finally, we are going to look at cvs. amazon announcing same-day delivery of medications in new york city and los angeles. plans to expand the options to other cities by year end could be a threat to traditional pharmacies including cvs.

your take on cvs. >> it is a cell. partly for what you mentioned. i have heard investors make the argument that some of the acquisitions cvs has made recently, specifically aetna which i think is the biggest marquis one. they should put in the bottom in the mid-70s somewhere for cvs. i feel like the market for the pbm, those margins are shrinking and shrinking. so the online pharmacies that compete against cvs have just been cutting into those margins. and then you have to couple the fact that cvs has a shrink problem. they still have stores being closed because of theft. and i don't see this turning around anytime soon. it is going to be long and hard for those shares. >> thank you very much. still ahead, peacock getting exclusive rights to stream the nfl's first opening friday came in over 50 years. what that means for the entire

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of 7 moisturizers and 3 vitamins. for all your skins, gold bond. we have four minutes left for the show and several more stories you need to know. the theme of the day is prices starting with the price of reddit shares. they got more than 12% today after posting a 30% gain in yesterday's trading. we just saw a scare also went public wednesday. these are stocks that headstrong ipos and have held on to the base. >> and reddit, almost double. we should point out that former president trump's related ipo started trading today. trump media and technology. up 43% so far and moving

higher. the price there is moving up. we will see how well that one hangs on. home prices hitting a new all- time high in january according to the latest index report. home prices in america's top 20 metro area is up 6.6% year-over- year. you want to guess the richest one? >> san diego. >> up 11%. >> stay classy san diego. 11%. la, up 8%. dollar tree said they are raising the price cap for items to $7 citing an influx of customers earning six-figure incomes thanks to sky high inflation. they recently raised too dollars in june and they are raising lower prices as well. now things don't cost anything less than a dollar. >> i did not know they had a top price. >> finally, prices.

inflation has been bananas recently and that is even true at trader joe's. the grocer chain known for deals is raising its price for bananas for the first time in 20 years up to 23 cents from the previous price of 19 cents. i did not know they sold bananas individually. >> you have to wonder if they were using them to bring people into the store. they must have different margins and know that people can just go grab a banana. >> well we have a couple minutes to chat, what are the big deals you have on your radar screen? is paramount? >> everybody is watching to see what will happen with paramount global and to see what is done with warner bros. discovery. and i have to say that the big deal that will influence a lot of these companies is the nba. because in be a writer up grabs and this ties into the final story which is this. some nfl news.

the opening weekend game will be played in brazil. it will be streamed exclusively on peacock on friday night, september 6. peacock was averse to exclusively stream and nfl playoff game last season. so this season, amazon will get the streaming playoff game. and/or two big takeaways here. streaming is a huge part of the nfl future and peacock seems to feel like the big money is spent for rights to the wildcard playoff game was well worth it in terms of subscriber additions. of course we have to note hat peacock is part of the nbc universal family, the parent company of cnbc. this says to me, look for some streamers to be involved in that. >> i could not agree more. there will be a lot of streamers involved. when we take a look at where the market is now. you can see the dow at 39,393 at the bottom of the screen. up a little bit. 80 points or so. the s&p 500 up a fifth of a percentage and the nasdaq is higher by about 51 points, at

16 dickel 435. >> we will see you here when we reconvene tomorrow. same time, same place. >> thank you for watching power lunch. closing bell starts right now. . welcome the closing bell. we are at the new york stock exchange. the make or break out starts with the rally's momentum. whether or not it is fading or resting and recharging. we will ask the experts. and your scorecard with 60 minutes to go in regulation. mostly positive across the board and modestly so as the quarter will wind down. the p check to be cap report friday large even with markets closed that day. interest rates are mostly lower ahead of that. we will be keeping an eye on that two-year is a little higher. discretionary comp services, the bank leading the way the session. tesla up nicely as well even though it remains one of the s&p's worst performers this year and ups having