need water to grow ♪ ♪ grow jobs, grow skills ♪ ♪ make the whole world go. ♪ ♪ make the green grass grow all around all around. ♪ ♪ make the green grass grow all around. ♪ at jpmorganchase, the investments we make help make businesses happen, that make jobs happen, that make communities happen. together, we make momentum happen. good afternoon, everyone. we're glad you could join us. stocks have been losing ground throughout the day. right out of the gate, they looked good, but now off the best levels. >> the record highs were driven by, what else, big tech. amazon, apple, and meta hitting new highs. apple hanging onto the gains,

but the big-temperature mover today has tesla, restaking its claim among the magnificent seven, on pace to be higher for a ninth session in a row. let's begin with boeing, a deal with the justice department to plead guilty to criminal charges. let's get more from phil lebeau. >> tyler, i think the reason we're seeing shares of boeing moving high is this is removing one of the unknown as weighing on boeing. let's first go over the plea agreement between boeing and the doj, it's a felony fraud charge, that boeing will be pleading guilty to. they'll pay a fine of just over $243 million, commit to spending $455 million on investments in things like compliance, safety protocols. independence corporate monitor will be appointed by the judge to oversee that boeing is doing what it's supposed to be doing.

if you look at this case, a lot of people are saying, is this all because of alaska air? not, it's going back to the two 737 max crashes. there was a deferred prosecution agreement that boeing agreed to in 2021, but they did not meet the terms of that, and they violated it with the chat air door plug blowouts. as a result, they will be into a court appearance where they'll plead guilty to the felony fraud charges. if you're a boeing investor, is this good news or one of those, okay, it's one of though more thing we have taken care of. potentially good news. it does remove one of the unknowns that's correct out there once finalized. there's the ceo search. that should be wrapped up sometime in the next several months. dave calhoun leaves at the end of this year. and then you have the 737 max

production roomp. under the circumstances gradually moving higher, but the keyword being "gradually." i think the production is estimated to be 24 737 maxes per month, nowhere near the cap of 38 per month. we'll get the production and delivery numbers tomorrow for the monday of june. again, the estimate there is about 24 a month. the june deliveries will come tomorrow. don't forget, at the end of the month, we get the q2 results from boeing. if you're an investor, you're saying, already, we're slowly getting there, getting through the unknown as, and then you can see what the potentially is for boeing to grow. >> i think one of our next guests fundamentally agrees with you there, phil, on the fact it takes one level of uncertainty out of the equation, and he would be tony bancroft.

welcome back. danny cevallos is a legal analyst for nbc news and msnbc. danny, you've been spending a lot of times covering political cases, this is not one of those. this is a fraud case, a criminal case. what does it mean when a corporation pleads guilty to a charge of criminal fraud? >> it's a lot different than when a human pleads guilty to corporate fraud, or any other kind of fraud. in reality, in many ways, which corporations plead guilty or are found guilty in federal court, it looks more like an accelerated civil case with the government as a plaintiff that's than the victims -- themselves. after all, you can't put a corporation in prison, and prison time is usually the most important consequence of a federal conviction, with the vast majority of federal convictions resulting in prison time. you don't do that to a corporation. so, in essence, because most of

these end of in guilty pleas, they end up with corporations paying massive civil fines, which inure to the benefit of the government, and the corporation does what the government thinking is best for safety. you see that with the massive investments boeing will have to make in compliance and safety programs, and then there's a fine, so there's a lot of victims groups and attorneys concerned about the speed at which and the terms under which this agreement was reached. >> before we turn to tony, danny, is there anything that prevents the justice department from charging individuals for fraud or malpractice, malfeasance here. >> so far i don't see anything in the terms of this particular agreement that's a global resolution, in the sense that no

one else could or would be charge. of course, that's always a concern, there may be individuals within the corporation that are going to be charged. as of right now, it appears this is just an agreement for the fee itself to plead guilty, with at least no immediate individual consequences for any humans in that corporation, although that doesn't rule it out. there could be some liability down the line that we just don't know about. a lot of the facts have been known for some time now. >> tony, the interesting thing about that is, are there going to be real ramifications for boeing as a company, or from shareholders' point of view? they're rallies slilgtly today. is this just going to be a shoulder shrug and the company moves on? >> i think it was generally expected boeing was going to plead guilty. it's the most logical conclusion to them, they get it behind them and start moving forward, and go to the new step, getting a new ceo and then getting the 737

ramped up. >> the ceo told us he was going to step down at the end of the year -- >> i just meant just getting rid of the uncertainty of knowing who the next ceo will be. i think it's part of the boeing story, who the ceo will be, what they field he'll be able to accomplish. >> what about the fact that with the government contracts they are under, the guilty plea could potentially affect the way they might win those? >> i think that is a risk. special lace, again, is that boeing does about 30-plus billion in defense revenues annually, and last year they won almost $20 billion or so in defense contracts. they're a -- they're number two or three globally in the defense industry. i just don't see them, you know, the department of defense in this global climate, with

tensions going on, them cutting off boeing. >> even if the laws and regulation, mr. government, you cannot do business with a, quote, convicted fraudster? >> just with whom i've spoken about, they're waivable. if you're a convicted felon, you're able to waiver, depending on the situation. >> i don't mean to make it sound like it's flopping. it is a guilty plea, but you wonder, what is the real consequence? they pay some money, there's an independent observer in the building. i don't know, it doesn't sound like -- my guess is for most people, it may not even make that you are news flow today? >> i think it makes the news flow. a lot of people say, this is a slap on the wrist. boeing will have to spend about $455 million on safety and

compliance programs, and the outside corporate monitor will be scrutinized. it's not something that boeing picks. there will be a level of scrutiny that will make boeing as it grows its production ramp under the new ceo, whoever that is, they're not going to be able to run right away. it will be a more cautious approach, at least initially, as they make sure they're doing everything. they're already doing that right now. look at how slow the production rate is. they're nowhere close to 38. >> danny, let's go back to the law there, and whether the government contracts, either existing ones, or the ability of boeing and the government to

enter into future contracts could be jeopardized here. number two, can you think of other cases where a company has pled guilty to criminal fraud charges, and what's happened then? >> on the first one, absolutely right, there's a waiver process, and likely it would be -- even that normal disqualifier, that collateral consequence of a felony conviction may not end up hurting boeing like it would be a regular guy, who is a government contractor who supplies goods and services to the government. one of the many ways in that corporate criminal prosecution that they don't feel like prosecution, especially when you're a criminal defense attorney, and you have humans that end up going to prison. >> really, you're saying boeing is too big to fail on this, right? >> every corporation that pleads guilty to a federal crime,

they're too big in the sense they get waivers, because they're a major part of government contracts. also, for every corporation, even a small corporation that pleads guilty to a crime, nobody is going to go to prison unless an individual is charged with a crime. i have covered a number of these cases, and what you find is companies almost all end of pleading guilty. this is really a civil case with a government as a plaintiff. it's really not a prosecution, even though you call it a prosecution. it's silly to think that boeing, the company, will have to report to a probation officer the way an actual offender does after they're out of prison and they have a probation tail. the company will not call up and say, when do i come in for the drug test? we can call it a criminal prosecution, but look already at the exceptions. they're going to continue to do business with the government.

they're not going to be under a disqualifications in the sense they can't own a firearm and can't vote. i'm not going glib here, but we have a system where we crowbared it into a particular basket. we call it a prosecution, but that's not really what it is. >> so a quick follow-up, tony, is boeing itself is also making moves that would potentially undo them, in other words, staying back spirit area other systems. in so doing, it might have contributed to some of the loss of quality control. you almost think the government could have said we're going to make you buy them, but there are buying them anyway. >> i think that's exactly rights. i think there was some strong arming from the f.a.a., you know, all road led to spirit had some issues, and the best course of action is take your critical

supplier back in-house. >> phil, quick question, are there civil cases brought by the families of the victims of the crashes of 737s that are at issue here? and where do those stand? >> they're in process. when they actually go to trial or go through the system, that will take some time to work out. yes, there are cases there. let's be clear, the families of the victims of the 346 people who were killed in these two max crashes, they are furious about this. they believe that boeing should be in corporate, that there should be a trial, there should be a hearing where everything is put out for the public to see in this calls. the doj clearly, as danny alluded to, let's get to the resolution that's more expeditious. that's the plea agreement. there's not going to be a trial, but the civil cases? yeah, they will play out. >> i think some have already

been settled if i'm remembering correctly. >> yes, correct. >> phil lebeau, danny cevallos, and thank you all. on the positive side, intel is up 5%. we'll trade intel ahead in our three-stock will this. paramount global down 4% on news it finally agreed to merge with skydance, and a months-long negotiation, and the era of control over the legendary move, that's your power check. we'll be right back.

the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title. welcome back. s&p 500 hitting another new record as key inflation and data are on this week's agenda.

our next guest says the 2% target won't be met without an extended period of -- i'm always trying to pin you down. i appreciate having you here. i thought, is everyone just getting frustrated with this market? are you amongst them? does it stack up, or are we experiencing something very different? >> so, kelly, you know, i saw stats today that showed the year to day through july 5th that only 21% of the companies in the s&p 500 have outperformed the index so far this year. that is now narrower. if this were the end of the year, it will be narrower than the tech bubble. >> yes. >> i used the seesaw analogy also times, that the seesaw is

bent in a precarious situation. who doesn't know about the seven stocks? people's knowledge of the other 493 is woefully inaccurate. >> why do i want to invest in the secular miraculous innovation. why wouldn't i rather still with what's working? >> kelly, by the end of the year, the magnificent seven's earns growth is supposed to be slower than what you get in the russell 2000, and slower than in emerging markets. rite now there about 16 on companies growing 25% or mo, so, i think people are really overlooking opportunities. it's not that they're bat companies, or anything like that, but are they unique?

the answer is clearly no, they are not unique. they do not deserve the amount of attention and valuations they're getting, relative to the growth you can get in other areas of the global equity market, that are similar, if not better. >> you're arguing strongly there for stronger companies and international companies, emerging markets companies. correct me if i'm wrong on that, but something that stood out to me, your assertion that we're entering as an economy, as the united states is intera time when, a, deglobalization is the governing trend, not globalization, and second, that the u.s. is going to be forced to regain its economic independent because of, in part, that deglobalization, and trade tensions around the world. explain to me what the investment implications of those two things are, what kinds of stocks i'm going to want to look at. >> sure.

so, there's two things that i think investors should take away from that. number one, is we would argue, in my firm, we would argue that the number one reason -- not the sole reason, but the number one reason we have secular disinflation is globalization. what it does is north carolinaed competition. everyone nose, you get downward pressure on prices. as we change from globalization to deglobalization, our mindset should start changing to secular inflation. that doesn't mean 8% inflation, but instead of a forecast of 2% to 2.5%, maybe to 3 or 4 of inflation is more realistic. globalization did exactly what the textbook said it would. it send production to where it was more efficiency. unfortunately, that was not in

the united states. so, the end result is the united states runs a massive trade deficit, which is no big deal as long as globalization is expandings, but when it contracts, you're running a massive trade deficit. why does everybody understand the security implications for dependent on semiconductors, but we adopt understand the risk for everything we are dependent on the rest of the world. we think the capital markets will be smart enough to reallocate capital where it's needed? obviously the number one sector is industrial, followed by energy and materials. >> very interesting. rich bernstein, very good to hear from you. we appreciate it. >> sure. thanks. hurricane beryl making landfall. pow of power is knocked out for millions of homes and businesses. we'll get a live report from the

ground when "power lunch" continues. hurricane beryl. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. [♪♪]

your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond.

your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪ ♪ ♪ ♪ matching your job description. ♪ ♪ ♪ ♪

welcome back to "power lunch," everybody. a quick check on the markets. the dow is the only one negative, but only by about a tenth of a percent. the other two, s&p 500 and nasdaq are higher, again by very small percentages, as you can see. almost flat in the s&p's case. hurricane beryl making landfall in texas today. nbc's jay gray is live in rosenberg, texas. his, jay. >> reporter: this area took quite a hit. i'm going to get out of the way. they brought out the heavy equipment. rain has been over for about 20, 30 minutes, and they're already working to clean things up.

they got a double punch here. they god the wind which ripped down this tree and so many others, and the water, which caused some heavy flash flooding. in fact, they had to rescue at least two people from their cars who were stuck in the water. that was going on as the rain continued. so, now with a bit of a break in the conditions, the wind has dropped off as well. they're allowing the crews tout out, assess the situation and begin what will be a long and difficult cleanup. you can see they have the right tools for the job. i talked to some of these guys. they told me they had separate crews working all night, and then those guys just went home, and they've got two more crews, two three-man crews coming through and continuing the work here. again, the issue has twofold, wind and rain.

the wind bringing down power lines and trees. and then the flooding, which continues to be pretty bad in several of the areas. it's cleared up here, thankfully, but only cleared up so they can get the work done. the tree is get a little close. i'm going to step back. but they're moving it. >> i don't know the territory there very well. how far are you from houston. how hard did this hit the houston metro area. >> reporter: we're about 180, 200 miles away from houston proper. the issue in houston was the water. it's far enough removed from the coast that the winds aren't as severe as they could be once it makes its way to houston, but the flooding is intense. we've seen entire roadways just swallowed by the floodwaters. they had about 6 inches of rain

before the storm hit, and then the storm moved in and carried another, you know, in some areas 4 to 6 inches of rain, so they've got dealing with that. that's something that's been familiar in houston. what is good about this storm, if anything, is the fact that it was moving at a pretty good clip, 10 miles an hour. unlike harvey, which stayed for a couple days and continued to dump water, this storm moved through the area and is continuing, but again, not without causing serious problems. >> jay, thank youvery much. jay gray reporting from the storm zone of beryl. and let's look at the impact the storm is having across the energy markets. pippa is here, of course. it was heading for some key infrastructure. >> the storm has not run its full course, but energy prices are falling today. today now that the storm has blown through, they're in the

process of returning to normal operation. exxon said operation are stable at all of its gulf sites. more than 2 portland 7 million customers are without power, and there could still be refinery damages. the gulf cost accounts for more than 40% of oil capacity. now, in terms of oil production, one platform was shut down, but where the storm has had an impact is energy flows between the u.s. and mexico, after a number of port closures, including corpus kristi and galveston. now, even if beryl's impact proves muted, it was the earliest atlantic storm on record to reach category 5. noaa is forecasting a more

frequent storm forecast today. and there's a heat wave in the west. there's a number of wildfires in canada that's threatening some oil infrastructure in there, so all these extreme weather events are happening, and it's earlier and earlier for there tock a big storm in the gulf coast. >> solar stocks are having a big day. >> solar is up after an upgrade at bank of america, but only to neutral. any bit of optimism will help. they basically said shares are trading under a worst-case scenario. they said they didn't go all out saying it's a buys opportunity, but they want confirmation of other issues. contessa brewer has a news update.

the powerful committee that screens foreign investments for national security risks could see its oversight expanded. the treasury department proposal a rule that significantly changes jurisdiction over land near security sites. . >> new jersey fines draftkings for reporting inaccurate sports betting to the state. it calls it unacceptable conduct, and says the errors demonstrated weakness in the company's businesses. and dan hurley just agreed to a $50 million contract to stay with the team through the 2029-2030 season. it turned doubt a $70 million offered to coach the lakers last month. he led the huskies to

back-to-back national championships, and now seeing a jackpot at the end of the rainbow. very interesting. $7 on million in california gets cut by taxes, a lot more than in connecticut. >> maybe he has some loyalty to the huskies. >> i would much prefer to be a college coach, i think. anymore, contessa, thank you. has tesla earned its spot back in the magnificent seven in we'll discuss that when "power lunch" returns.

[crowd chanting] they ignored your potential, and mocked your ambition.

but it's not the critic who counts. with every swing and block, your game plan never changed. ♪♪ some still call it luck. let them. because you know what it's always been. inevitable. ♪♪ ♪♪

a monster rally for shares of tesla over the past month, enough to turn them positive on the year and make the days it's

even earned its way back into the mag 7. deirdre is here for today's "tech check." >> the fundamentals haven't changed much. the current quarter is expected below, even though back in the magnificent seven. tesla is the only one expected to see revenue shrink, and expected to decrease 34%, but fundamentals, of course, they're rarely the driver of tesla's shares, and now that momentum seems to be back on tesla's side, the stakes are high to lay out the ai strategy, if particular -- in particular they have deployed tens of thousands of nvidia gpus to build powerful infrastructure for tesla.

last month, musk confirmed he directed a batch of those to two of his private companies -- he will no doubt make that case on the earnings call, and investors will be looking for more, for updates, and that gpu deployment. we're now one month away from the robo-taxi event on august 8th, which wedbush sees as laying the yellow brick road to autonomous future. that separates the bears and bulls on the stock. increasingly, musk and co will have to show how it's an ai company and what they're doing with all those gpus. >> you always think, you know it could have something to do with the overhang from his big pay package or something. something changed. >> it was last week ace

deliveries. that surprised on the up side, but it doesn't justify the kind of valuation with those kinds of growth numbers. so it really is kind of a show-me story, but the stock going up like that has raised the earnings. >> perhaps some anticipation of the august event. >> big time. >> deirdre, thank you very much. coming up, cement production is one of the world's biggest climate offereders. who knew? but new technologies are aiming to change that. we'll get the stone-cold facts, which "power lunch" returns.

new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

(intercom) t minus 10... (janet) so much space! that open kitchen!job criteria. (tanya) ...definitely the one! (ethan) but how can you sell your house when we're stuck on a space station for months???!!! (brian) opendoor gives you the flexibility to sell and buy on your timeline. (janet) nice! (intercom) flightdeck, see you at the house warming. transforming the cement industry. diana olick is here with more.

>> hey, ty, globally the cement production industry accounts for about 8% of carbon emissions annually. it's usually made by heating limestone and fossil fuel-fired kilns, but there may be a better way. in the race to de-carbonize the, the cement industry, scientists are coming up with new ways to produce it. and several companies are putting the new methods to work. >> our process doesn't emit co2. it avoids emissions from the fossil fuel and from the limestone. >> reporter: it unions chemicals indeed of heat and other minerals. >> used electric roe kem tri, it

allows you to use minerals that contain calcium for cement, which aren't limestone. that makes us true zero as opposed to net zero. >> reporter: it is nor expensive, but climate-forward companies seem willing to pay. it's one that will be the net zero office billing, with sublime cement. >> as people walk through, they'll interact with the product and learn more about the future. >> sublime just got an $87 million award from the u.s. department of energy to cover haas the cost of the first commercial plant in the state. it's vc backer you lore are capital, and mcj collective with others s. funding up to $45

million. they expect at scale to get ex -- to be competitive with portland cement. hey, guys, it is a start. >> this is are the tough industries. these are the hardest one to say crack, and in many ways the most consequential. >> absolutely. who knew it was the second-most used material on earth, second to water. we your it in roads, buildings, in all of our infrastructure. time to make it clean. >> diana olick, thank you very much. we appreciate it. mean time, shares of corning are surging on a first quarter report. the maker of glass, there's an ai angle, it expects the optical

fiber products to see a big boost from the technology. we'll get the trade on that and more on "three stock lunch" right after this.

welcome back.

time for "three stock lunch." here is malcolm etheridge, a cnbc contributor. great to have you back. let's start with shares of intel, which is doing a nice job pops. on pay for the largest percent increase since november of last year. what would you do with the stock? >> yeah, kelly, i'm calling this one a hold. i think intel is a bit of a ca catch-22. right now, they actually generate, i think, more revenue from data center spending than amd still, but i'm expecting the semi trade to take a breather near temple. as investors start to assess whether the aggressive valuations are still worth it, even if the accelerated that

intel's pipe does do what they think it would, they're a distance third. so i'm not sure they'll be able to reverse of narrative anytime soon. i have to then ask, would you by a buyer of the chip race or are you sitting on the sidelines to watch it all play out? >> i'm on the sidelines for all of them right now. i have concerns that the semiconductor trade is actually about to lose a little bit of steam. and i think as we get through a couple of these others, you'll see where it starts to broaden. >> well, let's move on to the next stock, which is corning, another stock higher today that is linked to a.i. shares up nearly 10%. after the company raised second quarter sales and profit guidance, this following a strong performance for its new optical connectivity products for generative a.i. what's your trade on corning and how big a deal is its connection to generative a.i.? if you put that in your name or close to it, seems like you get

a kind of halo effect. >> i think you said it perfectly, tyler. i consider this one a buy. i think similar to what i was talking about with the trade on the semis broadening, this is an area where as long as you put a.i. into the conversation, investors are still showing they are hungry for anything a.i. right now. this company ran into trouble toward the end of last year when they built up excess inventory which led to them disappointing the street and shares got whacked but as demand for data centers are growing, on top of all things a.i., companies like corning that supply the type of infrastructure that data centers need to build out, i think that increased spending among the mega caps specifically is going to benefit a name like corning. >> it was fascinating to hear the ceo say he thinks they're in the fourth quarter of a three-year growth plan. what about shorervicenow, which guggenheim cut it.

do you share concerns? >> yeah, i think that one thing that's interesting about se servicenow, a lot of the conversation we've been having to this point about a.i. is the companies building the tools themselves, not so much implementation. servicenow is one of the few companies that is actually helping on the implementation side. small and midsize companies like to automate their work flows and incorporate that in, i do these it as a beneficiary that trends. i have it as a buy. i would imagine a servicenow as a company incorporates a.i. itself. it only helps to improve their bottom line and increase those revenues which, by the way, are already north of 20% year over year today. >> yeah, down 40 a share today, but you still have it as a buy. we have earnings that begin later this week. what's your outlook for the markets as we move into earnings season? >> similar to what we've been talking about. i look for the a.i. narrative to continue, but i also look for it

to fwbroaden away from just the semis and away from the big three, apple, microsoft and nvidia, that have powered the market to this point. >> so, you think it will broaden out and not just be an a.i. market but a.i. is certainly going to be a helpful force for those that have yidz in their recipe. >> precisely. >> appreciate it. just think about this, let this linger in your brain for a while. you can always hear us on our podcasts. be sure to follow and listen to "power lunch." not just where you are now. but wherever you go. we'll be right back. [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond. tony, its gone. no.

how am i going to do this? welcome to the mdy mid-cap cup, presented by state street global advisors. today's challenge is to play 9 holes without the middle of your bag. how does that sound? that sounds terrible. ♪♪ ♪♪ ♪♪ ♪♪

this is remington. ...he's a member of the family, for sure. we always fed them kibble— it just seemed like the thing to do. but ...he was getting picky we heard about the farmer's dog... and it was a complete transformation. his coat was so soft, he had amazing energy. he was a completely different dog. it's a no-brainer that (remi) should have the most nutritious and delicious food possible. i'm investing in my dog's health and happiness.

let's give you a quick check on the markets on a day where the markets are nowhere as hot as the temperature. down 40 for the dow. about 0.1 of 1%.

the others were basically around the flatline. nasdaq doing a little better, which was up 0.10 of 1%. i think bespoke recently tweeted about the correlation between weather and the stock market. >> is that right? >> they need to -- >> it's too hot to trade. there's the nasdaq with 29 points at this hour. >> three minutes left in the show. several more stories to hit. earlier we talked about the big move in the tesla share price. another eye-popping, $7 billion is what the lawyer for the shareholder who sued over musk's pay package. shareholders are asking the judge to reject this record legal fee which would be $72,000 an hourly rate. >> these are lawyers for the one of the plaintiffs. >> yes, richard, the investor. >> they want to get paid for -- >> evidently for $7 billion because he ultimately prevailed.

yeah, who knows why. another shareholder said the legal fees seem exceedingly disproportionate. >> there's a lot that seems exceedingly disproportionate and outlandish in this story, including the legal fees. >> why not shoot for the moon. >> yeah, when there's a big pot of money, go for it. alert for target shoppers. the retail giant says it's going to stop taking checks, personal checks, as payment beginning later this month. they say it's due to, quote, extremely low volume. who pays with a check anymore? but they'll accept cash. credit and debit cards and digital payment options, among others. but no checks. >> we still occasionally use a personal check at home. in the store, who wants to stop and do that. >> and people behind you in the line start snarling at you. >> i remember even 20 years ago with my parents, 30 years ago, people writing a check out.

it would take forever. >> it used to be regarded as one of the best ways to curb your own spending because the very act of taking out your checkbook and writing and filling in an amount made you really think, do i want to buy this? do i really want this item? >> even with cash now, you often feel the same way. >> yeah. >> parting with cash is harder than a credit card. >> isn't it. can the length of stocks show your age? according to a "wall street journal," higher lengths are in while no cut or no show stocks are out of touch. if you have those, you're likely in the 30 age. >> above is up 6% since 2021 while low cut are down. even bomba says the stocks that make up 40% of their total business from 33% a year ago. >> you don't want socks that show. proudly display those socks. i used to wear really high ones

because i hate it when my trouser leg displayed too much. >> you don't like that little peek. >> but they're harder to find. >> not anymore, i guess. that's about it. >> that's the sock indicator. >> on that note, we're going to say thanks for watching "power lunch." >> "closing bell" starts right now. welcome to "closing bell." i'm scott wapner. this make or break begins with a critical week for the market. we will ask our experts over this final stretch. also coming up today, an exclusive interview with boston celtics lead owner, wyc grousbeck. we'll talk about stunning the sports world by announcing the team is up for sale. we'll discuss that as the larry o'brien trophy