the trucking market is soft right now. he ends it by saying the market is brutal. this morning i also read that the math for class a trucks, that's beginning to collapse. so i've been asking guests how they like to see rallies. i like to theme on a strong economy, right? one that's organically driven. not a strong economy that you're pumping trillions of dollars into. there's good news for investors. all of that cash eventually does flow to the bottom line of corporate america. eventually, it will get into the bank account of the top 1%. this is what i want youd to do. it's not a dart-throwing market, but a align yourself with the top 11%, and the best way that i know is to be invested in the stock market -- 1%. and the best way to do well in the stock mark is the watch this show and my friend, liz clay match. liz: i know. it's like a big business bloc, charles. i love it. $2-4, call out sick from work

from 2-4 and then go back. [laughter] thank you very much. oh, folks, breaking news, the biggest showdown in years at entertainment giant disney that has come to an end. ceo bob iger has ducked the mousetrap nelson peltz had set. but hedge fund manager bill ackman firing up accusations that disney or its advisers or somebody close to the company leaked the tick by tick vote count possibly tilting sentiment in its favor. as the stock slips now 2.6%, we're getting close to session lows here, we are all over the story expect drawn. coming up, wall street report robbie whalen live in l.a., we'll ask him what he sees as the most significant moments of this fight and whether peltz throws in the towel or continues the war, and ken leone will join us on whether he says iger and disney still need to work harder e. to the markets. this is kind of interesting, okay?

after two days of losses and federal reserve chair jay powell this morning playing the stern principal at the market school of interest rate cut hopes, we are looking right now at pretty much, you know, a decent market here except for the dow which just turned negative, down about 17 points. it was there earliering but we do have a session high that was the much more significant, i any. right now we are looking at the -- i think. right now the s&p is up 11 is, the nasdaq up 62. russell 2000 up 13. it was really the bond market that had a more pronounced reaction to chair powell of the federal reserve warning an audience at tanford business school -- stanford business school of the dangers of jumping the gun on rate cuts. he's what he said. -- here's what he said. >> the risk, though, of moving too soon really is that the economy, you know, really does -- deflation does move if up. and that's, it really would be quite do disruptive if we would have to come back in. we will do what we have to do to get inflation down to 2%. liz: let's hook at the 10-year

yield. it came into today at highs not seen since last november. it hit 4.4299 % before powell spoke, then came off the boil, dropped to about 4.34%. right now you can see it has basically gone to about 4.356. but it had punched to the earlier high after the release of the adf private payrolls for march. the precursor to friday's jobs report showed companies added 140,000 jobs during the month, better than the 148,000 that had been estimated. so the gain here of 184,000 pretty decent. february was revised higher. this all underscores a strong the labor market which, i don't know, read between the lines, lessens the urgency for the fed to cut rates. need to show you the dow 30 heat map where intel is as a cold as ice. it is also the worst performer on the nasdaq 100. it is way are there at the

bottom of the blue chips after the chip maker announced its foundry business lost $7 billion last year, further distancing its fellow u.s. rival nvidia. so with this drop of about 7.a 5% -- 7 a 5% right now for intel, you can see year to date intel is down about 19% while nvidia has skyrocketed 80 plus percent. but the macro pick -- pictureture for the markets for any company facing losses or rye thing to draw down their debt is pretty much one that says don't expect lower borrowing rates from the fed e to bail you out at least the for now. economist john lonski is here along with carnivore tradings' dutch masters. dutch, did powell just basically signal no rate cut at the june meeting? >> okay, i think he's signaling we need to see further signs of us inflation -- disinflationary weakness if the fed is going to

go ahead and cut rates on june 12th. we had a few favorable developments of that sort. we did get this weak reading on services from the i e sm. we also had the lowest prices paid index from the ism. more than three and a half years. and i will add that in the month of march unit sales of cars and light trucks seemed to have dropped by about 3.5 from the prior -- 3.5% from the prior month and rose by less than 3% from a year ago. the economy is slowing down. and that, again, preserves the possibility of that widely-anticipated june rate cut. liz: john, let's look at the 2-year deal because it most closely follows or rack tracks what the federal verve is going to do -- reserve is going to do. it closed yesterday at 4.7%. earlier today i saw it at 4.73%. this one continues to climb here except that since he spoke at

stanford business school, and it was a q and a, he came down, at least he brought this down to 4.68 a 5%. so we are at the lows of the session for the 2-year. what should that tell investors about equity investing? >> well, that tells ec by ety investors or that -- equity investors that perhaps these affairs of earlier this week that the fed would not be cutting rates on june 123th were overdone -- 12th were overdone. that a being said, that a 2-year treasury e yield you cited was significantly lower a week or two the ago. so there is much more uncertainty. as to whether or not the fed cuts rates in june than there was several weeks ago, and that's still going to weigh on market performance. i can't help but add a, as i said earlier, the fed is not going to be cutting rates unless we have some convincing evidence of a softer disinflationary economy. that would tell me that the rates of growth for consumer

spending have to slow down, and more importantly, we're going to have to see smaller additions to payrolls. the prediction is that we'll have 200,000 new jobs in march. that's still too high for a fed rate cut. we need to have that monthly increase perhaps approach 175,000, 150,000. liz: well, or we'll know friday when that number comes out. let me get to dutch masters. dutch, you're with 60% in cash -- you're 60% in cash. when we're looking at the s&p, year the date we're seeing a gain of about 9%, year-over-year up 26%. what are you waiting for, a big pullback? >> well, you know, we had a fantastic january and february with biotech. carnivore's portfolio is up about and -- 130% year to date. we like to roll with whatever sectors are really hoeing us the strength. so -- showing us the strength. so we're pretty much out of the

biotechs except for, and i have to say there was huge news today when costco said e they're going to be offering the weight loss drugs to select customers at $1799 for the first three months. -- 179. liz: whoa. >> this is, this is huge. now, we've been pounding the table on the fact that the weight loss drugs by lilly and novo nordisk are really taking the world by storm, and for the first time ever planet fitness actually had more people stop subscribing in january than actually subscribed. so, i mean, this has never happened in history, okay? so we think that this is a massive disruptive drug technology that has a lot of legs, and i don't -- i mean, after all, the government likes to talk in the world trillions, so let's call it a trillion dollar opportunity, right? liz: wow, okay. >> dutch went on this himself, speaking in the third person, of

course, in september of 2022, lost over 10 so 0 pounds, that had no -- liz: wow. >> -- had no real side effects. so this is the real deal. so the sector that we are rolling into now and moving into is really building construction and infrastructure. liz: okay. well, you didn't lose any brain power considering your gains year to date. let's look at infrastructure names, and you specifically mentioned cat. you like road. as we with pull this up, i do immediate to bring john lonski back to the conversation because, john, infrastructure spending argue by strengthens the economy or at least the jobs market as laborers have to be hired to do this. i mean, we think about this horrific situation in baltimore with the bridge collapse. already they have, i would venture to guess, more than several hundred people working on this right now. but does that tilt the rate cut in any way, shape or form one

way or9 another? >> well, you know, what's happening in baltimore is also going to put whereupon ward pressure if on product prices -- upward pressure on product prices because of supply chain disruptions, and we have a full employment if economy. it doesn't take much of an increase in the demand for labor to put upward pressure on wages, and that is something the fed worries about. are we on the cusp of going through an episode of wage-driven inflation. you simply don't have enough room to grow this economy given the fact that we are already at full employment. i want to add, you know, construction spending outside of, you know, other than residential construction spending the strongest component has been construction spending on manufacturing facilities. believe it or not, last year it was the up by 71% in dollar terms year-over-year. why was that? if that was because of government subsidies and tax breaks that aim to spur the production of microchips as well

as green energy-related products in the united states. liz: i'll tell you something, you know, there's a lot of action, and one thing is for sure, the market is really holding up quite welch and to that -- quite well. and to that end, i'm talking over the last several months. when you pair that with the strong labor market, i do not see three rate cuts, but we shall see. >> i agree. liz: yeah. good to see you both. john, dutch, always a pleasure. >> thank you. liz: the mouse house has just escaped the biggest trap in years set by an activist investor. the disney board was teetering on the galaxy's edge as the "star wars" parent drew its light sabers in an all-out proxy war. our "countdown" power panel is here next to break down today's shareholder meeting, the crucial vote and the future fallout. disney stock, let's take a look at what and how it has performed since bob iger grabbed the ceo

chair back from his hand-picked successor, bob chapek, back in november of 2022. it as has gained 29 plus percent. nelson peltz, the activist, would argue a lot of that has to do with his involvement, but we shall see. "the claman countdown" is talking all about this and more when we come right back. ♪ ♪

♪ liz: breaking news, well, it may be a victory for disney, but not the stock. we have more degradation in shares of the entertainment giant, it's heading south by about 3.3% to the downside here after the company announced a massive win over activist

shareholders. disney's entire 12-member slate was elected by a solid margin in an, expensive and very hard-fought battle. disney did successfully block trian fund's nelson peltz from getting seats on the company's board, and disney also staved off a separate push for board seats from blackwells capital. major points of contention in this proxy battle, the leadership of ceo bob iger's hand-picked successor bob chapek, how iger swept back in and returned in 2022 to steer the ship and get the stock out of muddy waters but also the direction peltz called woke of its movie business. have the white flags been waved, or with iger's contract ending in 2026, is this just the beginning of proxy wars or some other battles that may be brewing here? our disney power panel joins us, cfra director ken leon, he has a $139 price target on the stock,

the stock right now if is at a 118. and if here in los angeles, robbie whalen who's been covering every minute of the show down, "wall street journal" reporter. including the vote, which just ended a little over an hour ago, what are the most significant if moments in this proxy fight, and bob iger lean back with all his troubles behind him? >> thanks for having me, liz. yeah, it's been a pretty wild ride. i mean, this is a battle that a got emotional, it got personal. there were a lot of accusations flying around, personal if grudges being with behind it. ike perlmutter involved, very colorful character who's good friends with nelson peltz. even in the home stretch there was drama. we had elon musk calling shareholders, urging them to vote for nelson peltz. ultimately, it didn't have much of a difference, and we have a big enendorsement of bob iger and and his vision for the correction of the walt disney end company. wig win for him, really -- big win e for him, really. liz: okay.

except that he has a lot of questions swirling around his original pick for taking over, right, succession. and that was bob chapek. he was a very smart executive when it came to the markets business duh did not resonate at all with hollywood. and who knows, you know, was sort of directionless. and then you've got bob iger now, do you really believe, robbie, he is going to step down when his contract is up, or will he extend it once again? >> that's the billion dollar question. yeah, if we learned one thing from this fight, it's that despite disney's sort of resoundingly winning today at the annual meeting, investors are still, you know, they have big questions. some of them have big problems with the way the company has handled ceo succession. so nelson peltz won 31% of the vote. the not nearly enough to get him on -- it was not nearly enough to get him on the board, but that's 31% of shareholders with voting power who voted for a guy who by his own admission doesn't know anything about the media,

doesn't have any experience in media, and his experience is in holding boards to account and and changing governance. so what that means is a huge portion of investors really think that there's been, you know, in that disney has dropped the ball on succession, that governance is not going well, and they don't trust that bob iger is going to sort of steer that process quickly and efficiently towards the right, you know, the right direction. liz: ken, let me bring if you in. you have a buy rating. does this, and this vote is, because it further -- does it further sport, does it add to your conviction that this stock is just a wenter coming up, or are there things -- a winner coming up, or are there things you need to see disney pull off in the near future and what are they? >> well, you know, winning takes care of a lot of issues including succession. and what this proxy battle did was brought to light really the specific strategies and plans that that disney has across all

of its businesses. in particular, in the lagging area of entertainment including video streaming which they expect to be much more profitable and get to double-digit margins. so the opportunity that disney has today is to drive growth and profitability. we think they can do that. again, or nelson peltz was a great foil for bringing this all out in the open. there have no stone unturned, and i think when you look at the specific issue here of succession, bob mentioned that he got it wrong the first time. bringing on someone with like james gorman from morgan stanley who did it right there under a lot of pressure, you know, i think that will be an issue. but again, everybody wins. you know, the stock's up over 50% since last october. but there's more upside here for a sock that was once el well

above -- a stock that was once well above 200. so i would look to really good execution across the areas that have been troubling. entertainment is 45% of revenue, 8 of operating profit. the theme parks are doing great and sports is a keeper for the long term. liz: well, if you compare disney's performance year over year with with the s&p 500, because i was looking at this, it's underperforming. i mean, the s&p over the past year, 52 weeks, up 26. we've seen disney's stock continue to go down today, so i think it's give or take disney's been up about 19-20%. this is year. so year to date disney has outperformed. what we'd love to see is year over year because that's the s&p 500 comparison, i think, that shows over the relatively short term, you know, people would like to see a better performance here. robbie, i do have to bring up this concern that, well, you

know, pershing square hedge fund manager bill ackman started floating because you had actually, about a week ago, been part of a big article in the "wall street journal" questioning all these leaks about where the vote count was progressing. and which side was in. now, ackman tweeted out today that,s in's essence, he said really only the company and its advisors have access to how shareholders have voted before the day of the annual meeting. he goes on to say my understanding is that it's illegal to release the outcome of the vote prior to it being finalized as it has the effect of manipulating the outcome. he said it was really inappropriate if anybody from the company or its advisors leaked this. and, again, when you're looking at a proxy battle like this, it could tilt the scales. what did you find in your reporting in. >> i always have to laugh when people speculate in public about my sources or my colleagues' sources. i think that's what's inappropriate, not the fact that information is out there about

how something's going. but, look, i'm not going to weigh in on whether or not there is anything improper going on here or anything illegal. it's not by place. but with i would say that the public, in my opinion, deserves to know how an issue like this is progressing, how a fight is going. they want to see which horse is ahead, and that's my job as a reporter, to rereel that information -- reveal that information. it doesn't have much effect on me what bill ackman has to say about it. liz: yeah. as charlie gasparino and i like to say, we think that leaks are horrible except when they come to us. [laughter] but i get it. ken, robbie, good to have you. and we are continuing the watch disney's stock -- >> hey, liz, let's keep talking about evan gershkovich, i'd like to keep that in the conversation, okay? liz: 100%. putin is a nightmare and a terrible, terrible leader for taking him hostage. that "wall street journal" reporter, we are praying for evanfulful thank you so much. >> thanks very much. liz: the price of oil inching

closer to $86 bear share -- per barrel, rather. and as it rises, up goes the pice of gasoline. jeff flock is live in the city of brotherly love to tell us if higher gasoline prices could actually lead to a renewed interest in evs and high hybrids. -- hybrids. wait until you see the latest numbers that came in just from if ford alone about the interest and the purchases of hybrids and evs. the axs tesla bear daily etf taxes the inverse of tesla's stock, ticker tslq. year the date we do see it up pretty significantly are, up 43. but remember, tesla's price share has fallen 32% in the same period in large part due to all kinds of issues and a short, coming in short on tesla deliveries and production for this first quarter. we have coming right back. stay with us. ♪

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liz: take a look at crude oil right now. we have it up about 34 cents in the aftermarket to $85.49 a barrel. this after briefly are, during the regular session, topping $86 a barrel. finish that's the first time black gold has hit that price since october 24th. high oil prices directly

correlate to rising gasoline prices and and pa may, in an interesting twister, d twist, even contribute to higher electric vehicle and hybrid sales. kelly blue book says there were a record 1.2 million u.s. evs sold last year and now, today, ford announced that hybrid sales rose 42 year over year -- 42% or year-over-year while its ev sales, particularly the mustang mac, the sales skyrocketed -- mach skyrocketed 86% in the first quarter. jeff flock is live from a gas station in philly. could higher gasoline prices actually give sort of a jolt to the ev market even more than what we saw at least from ford's numbers? if. >> i think you're totally on to the something there, liz. yeah, it's not just ford. and, you know, just like the weather in philadelphia today, gas prices are getting to an unpleasant level. fake a look at the numbers -- take a look at the numbers from stellantis. they said their plug-in eye bid

electric vehicle sales in the first quarter were up 82% compared to the first quarter of last year. and at gm, the lyric, the cadillac lyric, that a fancy cadillac, all electric the, those sales were up 52% if from the last quarter. if so i do think, as i said, you're on to something, and you're not the only one. jessica caldwell of edmunds says people are starting to get concerned about a gas quites ant want to go all electric, they go hybrid. listen. >> i think that's what we're starting to see with evs and why we're seeing the resurgence with hybrids. a lot of focus are shopping electric vehicles and are deciding that maybe they're not quite ready in 2024 for an ev, but a hybrid is more of their comfort area. >> reporter: and speaking of comfort area, i think the price of oil is now got --s has now got the biden administration if out of its comfort level.

as you know, liz, we heard that they're not going to replenish the strategic petroleum reserve as we thought they were going to. you know, the administration has drained the reserve when the last time oil -- or gas prices got so high. so, yeah, that was kind of a success. but now the spr is way down, lost about 250 million barrels since the biden administration took office. this isn't a great time to have your strategy the ec reserve reduced. why many -- why? well, the oil bills tell us there are a number of reasons for that. one, to opec meeting today reaffirmed that they're not going to go away from the production cuts that they announced. there was that bombing at the iranian consulate in syria. the mideast looks like, you know, it could blow up at any time. we've got sanctions remerging against the venezuelans for the venezuelan oil. and then -- a. [audio difficulty] it's windy out here. and last but not least -- [laughter] you know, you've got the

geopolitical situation in general out there. and despite that, andy lipow, the oil analyst, says, you know, things could be worse because u.s. production right now is going gangbusters, believe it or not. here's what he told us. >> i think that that that u.s. oil production could reach 13.4-13.5 million barrels per day as additional drilling and better with efficiencies take hold in the oil patch. >> reporter: and, liz, that would be an all-time record. we're already producing more oil than we ever have, and he said that's going to happen again next year. and, of course, that comes you should president biden where a lot of people think he's got a war on oil going. well, if he does, i think he's losing the war. of course, some people say we could produce a lot more, you know, if we didn't have a war. but, hey, can't argue with success right now. liz: yeah. well, yeah, we are pumping out a

record amount. jeff, mary poppins is on the phone, she wants her umbrella back. you almost got blown away -- >> reporter: super call percentage if listic exbial doashes. liz: the great robert sherman wrote that. jeff, great to see you, thank you so much, my friend. ulta beauty having a bad makeup day, at the bottom of the s&p right now losing 15% after the beauty company's ceo warned sales the during -- will moderate during the fiscal 2024 year. ceo david kimball blaming the competitive environment calling it, quote, intense and saying ulta that the lost share to prestige makeup brands and faces challenges in luxury hair care. that news knocking down the entire beauty sector. we've got estee lauder pretty much very close to the bottom of the s&p. and then you look at coty and e.l.f., also trading lower with e.l.f. down 11%. costco, you just heard it from

dutch masters, offering its members a side of glp-1s with its hot dogs. the wholesale retailer is partnering with health care services provider e sesame, offering its members access to weight loss programs which may include prescriptions of glp-1 drugs ozempic and we geoff i have. members can subscribe to sesame's weight loss program for $139 for three months -- 179 for three months compared to $195 for non-members. the subscription, which doesn't cover costs of medication or lab work, would connect with a clinician who would help with diet, exercise, lifestyle and medication if necessary. and signet jewelers shining bright like a diamond. nice gain of nearly 10% here. the jewelry retailer raised its annual profit forecast for 2025 and also announced a deal to buy with back $414 million worth of series a convertible preferred shares from private equity firm

leonard green and partners. signet if says the program will reduce stock dilution, ultimately driving the company's current fiscal year earnings. it plans to allocate up to $1.1 billion toward paying down debt. hundreds of music's top artists banding together to protect their voices from artificial intelligence. superstars from stevie wonder to katy perry, bonn bon jovi, pearl jam and more demanding big tech keep their music alive. we will ask have beenture capitalist and palantir cofinder joe lonsdale. he's a real futurest. what it means to developing, the developing industry but also to the real music industry and musicians. "the claman countdown" is coming right back. ♪ while you were sitting home alone at age 13 -- ♪ your real daddy was dying. ♪ sorry you didn't see him, but

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♪ liz: the battle between artists and ask and artificial intelligence has entered the sound booth. more than 200 musical artests, big names here, heavy hitters john bonn with joe i have, billy 50eu8ish, nicki minaj and even the estates of bob marley and frank sinatra have come together to pen a letter to a.i. developers with one of the strongest position the industry has taken against a.i.. the letter calls on tech firms and and a.i. developers to stop, quote, predatory use of a.i. to steal positional artists' voices and likenesses, violate creators' rights and destroy the music i ecos&p system. ecosystem. asking them to pledge they will not develop or deploy a.i. music generation technology.

finish i want to bring in one of the investors heavily involved in tech and a.i. development, apc and cofounder of palantir, joe lonsdale. joe, i don't know how you can stop evolution, but what do you make of the concerns of the music industry here? we have seen people's voices hacked into a.i. deep fakes, and it's not just the music industry. we've seen others in famous pockets of the world, and, you know, it gets a little concerning. >> well, liz, you know, i'm not working in music mist, but -- myself, but i can see where they're concerned. isoo -- i mean, listen, this is a small hint of what's to come with the disruption we're fay -- facing right now, and the bolter's -- world's going to look very different in 10-15 years. i think people who are going to be best embrace it and figure out how to work with it rather that than ones who pretend we're going to be stuck in the past forever. when possibilities

change, music's going to change. it feels like a luddite thing the me. yes, the right to be scared, but it's not that we don't have a future. there's going to be a future, it's going to be different. liz: but is there wiggle room to say this, grow can't do? we've had electronic e-generated music now for quite a long time, but when they're stealing katie perry's voice somehow because the technology has reached that point, that would be highly annoying to me and could result in lawsuits. >> you know, there's probably some rules about we have to decide as a society, this is a legal question as a society, do we want to be able to have someone's voice, you know, speaking on fox news or singing a song if it's not them. at the very least, you should probably disclose that it's not them. should you be able to sell a song you make with their voice's? that's frankly, up to the legislation. right now i think it's totally allowed. maybe make a rule it's not allowed. i tend to think it's better for the country if you don't have a strong copy roight law. the way it's worked so far is

these big corporate interests have made very, very strong copyright laws, and mickey mouse is coming out of trade trademark or whatever and it's probably not good for the country to have these things persist for too long. i don't know if the estate of frank sinatra is much of a concern for pus as a country right now. there should be protection for new artists. liz: there's a slew of a.i.-first gadgets that are coming out. everybody is wondering if this is, indeed, the era of the a.i. gadget coming out. there's a whole list of different things that are about to be revealed. i mean, there's some with music capabilities. there's humane's a.i. pen. that's to use as sort of a phobeful you have rabbit's r1 device, meta's smart if glasses are going to get an update with a.i. you've got brilliant labs' a.i.-enabled smart glasses. everything s is here, that's a smart cane that is smart enough to let elderly or people when need assistance know if there is a break in the sidewalk, it also

can take phone calls in case you need to dial 9 911 in any waying shape or form. is this a new era, and how much money is there to be made with a.i.-enabled devices? >> you know, liz, i do think augmented reality is going to be a huge area. i actually did my thesis on that 20 years ago at school, i was a little early. i think the new devices are fun, they're gadgets, they're toys. i think the way to think about the real value here, the way i approach the world is a lot of these are tied to health care, for example. and the real way they're going to change things is when you figure out how to change the delivery of health care and the industries that already exist, that we're already spending money, already treating patients and how to interwith act with that and improve it. so right now it's kind of like the very early internet where there's all these funny new web sites, and you can screw around with them. i think it's going to look very different in 5-10 years and the real money that's going to be made is how it interact as with our existing industries. liz: well, impact too, you mentioned health care. that that's where you are pouring a lot of your money.

there's a company that could actually save lives using a.i. to mark and and to basically diagnose accept sepsis -- sepsis before it kills people in the hospital. sepsis is a huge problem. i mean, what developments are you working on and seeing? anything that you can tell us. >> yeah, no, there's a lot of areas like that where if you have the right a.i., you know, you have the right a.i. setup, you could have a.i. plus a nurse do a lot better than a doctor in a lot of cases. one area, for example, pathologists when they take, when they basically look and see if there's cancer orbit in a a biopsy, it turns out that even in the very best contests people make mistakes 4 of the time, the average pa if thomas about 8-12% of the time. the a.i. is making mistakes less than half a percent of the time. you have a lot of things like this. it's not that you shouldn't have doctors, but a doctor should be augmented by a.i. it's insane not to have a.i. in those cases. and unfortunately, the way the medical world works, very slow,

it's very regulated, there's special interests constantly trying to push back, the doctors' groups are very powerful and there's not of people with die betts -- diabetes, i think it took us 7 years to do the treatment for diabetic -- if there's not enough doctors, basically, it's a very interesting fight where you have this kind of luddite force that's partnering with the old interests, with the people running like frank sinatra's estate in music but people in health care saying, oh, watch with out, a.i.'s dangerous. a lot of that is just the minid interest -- moneyed interests trying to stop us from a new way of doing things. liz: stuck in quick sand or the mud, certainly. again, i think case by case basis. music industry very different from great developments in the health care world. joe, please come back. thank you so much. >> thanks, liz. liz: joe lobs dale. charlie gasparino has breaking developments on a potential deal

on the future of paramount. he is next. dow jones industrials off the hoes, just in the last 20 minutes -- lows. it was down more than 40 points and now down 13. we have the nasdaq up 42, the s&p up 9. ♪ ♪

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♪. liz: breaking news. take a look at paramount's stock. it is suddenly soaring right now, up 16, now it is 17%, an conflicting headlines that are flurying all over the place here about whether a deal has been struck between shari redstone and skydance's david ellison for ellison to purchase her stake in paramount global. let's get to charlie gasparino. we need you to sort of clarify what going on here. >> basically where it was last week with we reported on the "claman countdown" the only bidder is skydance redbird, kind of a combined deal. david ellison is leading the

charge. thethe son of larry ellison. he has capital from media private equity firm. it has jeff shell involved, that is very important. they have always been the real bidder here, nobody else. apollo looked at this, the problem with apollo's bid, i reported this as well, they just want the studios. apparently they don't want to just sell the studios. you can't break this thing up. it is kind of a package deal. sky bird red bridge wants that package. what what we're saying these are exclusive talks. these are all, a lot of semantics here. they may only be talking with them for the next month. this deal could fall apart, liz like anything else. apollo could come back to bid

for the whole thing not just the studios. here is why it could fall apart. this is stuff we've been reporting on the "the claman countdown." the common shareholders don't do well under this deal, the way it is structured. skydance pays 2 1/2, $3 billion for sheri redstone's 80% stake in national amusements, which controlling company has the controlling shares of pay a mount. doesn't mean they're buying paramount directly. they're not buying the common shareholder out at 1dollars a share. i think the market will reflect this very soon. unless they figure out a way to throw money to them. that is where i think this thing will get held up. liz, this is the bottom line. do you think mario today belly and buffett. -- gabelli. buffett sold part of his stake maybe all i don't know. for the sake of argument is

still in it, and mario gabelli are still in it. will they walk away empty-handed to watch shari redstone make $3 billion? mr. ellison essentially taking skydance, merging it into paramount, would be like a five billion dollar valuation from zero? that's not going to happen. so what is likely to happen here, if this thing happens, and again it's an if, something will have to be done for the common shareholders because they will sue. mario gabelli, i'm not saying he is, i don't know, but he will probably sue. the best thing to say is this it where it was last week with a little tiny nuance maybe paramount is not interested now or maybe can't be interested now. there could always be a white knight here but it is a very complicated deal, liz. i don't know where to begin. how do you compensate the common shareholders on this? >> considering the high of the year for pay a mount was 24

bucks -- paramount. thank you, i have i have to get to the "countdown closer"? >> one thing, don't buy this on the rumor. be careful here f you're playing around in the stock. this is important. your count down closer will tell you that. liz: miramar capital is the county down closer -- "countdown" closer max wasserman. >> good to see you, liz. liz: we look at microsoft as one of them. there is a big question about the "magnificent seven" and who gets to stay in it in 2024, why microsoft? >> if you look at it from the fact that second quarter fiscal year they were up 16% in earnings. you're also looking at a company that is growing the cloud at 28%. six points of that is related to a.i. you're also having the fact that gaming is up like 48%, 44% contributed to activision. they have 200 million monthly active users and think about that for penetration, for a.i.

if you're looking for an a.i. investment we like this. now it is not cheap at 31 times earnings but they're monetizing the chatgpt. they have the ability from multiple levels to make money to be the future. again it is not a cheap company but we think the earnings growth is tremendous and it continues. liz: we have 10 techs, 10 seconds thanks to my compatriot charlie gasparino. how many fed rought cuts do you see this year. >> one or two. in the fourth quarter. liz: you're like us at "the claman countdown," we do not think it is three. here we go the closing bells cue them. [closing bell rings] s&p and that nasdaq up here. eking out modest gains. evercore isi head of research mark mahaney joins us. we're talking tech and more. larry: hello