mary barra is the one who deserves the kudos. i looked into several. our chief scientist and research director pointed out that the stock now sells for 4.6 times the midpoint of managements forecast, making it one of the cheapest stocks on the s&p 500. that usually means it is about to rollover. of course there is another reason i feel comfortable recommending gm. this company has been buying back its own stock so much to the point that they had to put through another $6 billion repurchase authorization last month. i but they will be buying stock right next to you if you pick some up tomorrow. here is the bottom line. the busiest weeks of the season can cause the market to get confused by individual stocks, so don't just assume that the quarter must be bad. don't presume that it is therefore the peak and has to be all down from here. instead i have an idea. do homework and see if you get a buying opportunity, which i think we have in general motors. cheap, but not a value trap. instead i see a resumption as soon as the jonas smokescreen blows over. ceo

is there anything for mary barra? look. it's down? >> adam jonas here, the jonas reaction out of morgan stanley, they beat by 14%. history suggests that good times won't last. the ft with a big piece, auto incentives up 15% in june. >> to carl's point or jonas' point, this thing never gets a multiple. no matter what it does, it doesn't get a multiple. >> jonas likes ford. what was good in gm are the suvs and the trucks. no one makes trucks better than ford. also, you cut back on -- far wli c farley cut back on evs. >> it was the non-electric vehicles pouring gm's earnings, particularly the trucks. tvs a very good quarter, not getting rewarded in the stock market to the point being made perhaps because there may be bad times ahead. i don't know. >> jonas -- that's like when you're playing and your mom says, hey, listen, somebody always gets hurt. i see him and i say why don't you spotify me. >> we'll get to spot. paul jacobson was on squawk to tay and talked about table prizing relative to industry. here is what barra said about china

s starboard should improve tinder. >>> and mary barra tempering the ev ambitions. does not have the capacity to reach the previous target of 1 million evs by the end of next year. >>> and trump media closing 30% higher after the surge yesterday. the trading volume was ten times volume. >>> and hugo boss is cutting the full-year sales forecast after the decline in the second quarter. the company says the macro and political challenges are weighing on spending for luxury goods. >>> lineage is raising $4 billion in the ipo which would be the largest in the u.s. since arm's debut in the fall. they are looking at $70 to $82 a piece for market shares. >>> and the s.e.c. an approves three spot ether etfs. blackrock and vanek and templeton are among those. >>> here is what to watch on the economic front. retail sales out this morning and several key earnings reports from bank of america and morgan stanley and united health and fed governor akugler will speak later this morning. >>> we did see moves in the market this morning. right now, the dow would open up 50 points high

barra, with whom the democrats agreed on the topic of supporting unions.ge on biden for the mask. those who attended a republican rally in swing minnesota witnessed a stand-up show in which the former president impersonated the current one. when i was here 2 months ago, i parodied biden because he couldn't find the stairs. so many stairs, too many stairs. his speech never lasts more than two, maximum 3 minutes. 3 minutes is already a long time for him, then he points to the stairs, and then he leaves. haris also got it naturally; trump called her a marxist prosecutor and made a prediction in case she wins. a kamela harris presidency means 4 more years of extremism, chaos, failure and possibly a third world war, i really think so. in order to go to the people, trump now has jady. to become trump's most faithful ally, but the liberal press is looking for more and more reasons to doubt his sincerity. the new york times dug up the history of his correspondence with a certain transgender friend, this is what vance wrote in 2016, when trump won. a morally repreh

look at gm, mary barra, when she announced that buyback -- barra is great. about musk. >> as we should. enormous market share of the business. >> true. barra is not a ratings magnet, nor is barra. musk has a very funny -- he has good memes. he's good at the meme business. >> very talented in social media. he literally owns social media. >> literally and figuratively. >> morgan stanley, adam jonas has a note about climate. we're going to hit near 100 degrees in new york city. he thinks episodes like that will draw more attention to renewables and evs. >> i appreciate the fact that jonas, not unlike charles dickens, feels the need to right every day. >> match. >> that was one of the notes which basically challenges the competence of management. there's one very funny line in there which says the ceo is in the gaming business. he should be able to do better. i'm thinking, tinder, hinge, draftkings. maybe jason robins should move into the dating game. that was a stretch, but the stock's performance is pathetic. i think justin is doing a grade job at starboard. h

today mary barra at a cnbc event said huh-uh, they're not going to make it to 1 million.ay. >> general motors moving the an almost all-electric future. the vehicle is really a software platform. we're seeing a slowdown. we won't get to the market just because the market is not developing, but we'll get there. we're going to be guided by the customer, but what i like to tell people is get in an electric vehicle and drive it. it's instant torque, opens up new design language for the vehicle. as the charging infrastructure gets more robust and evs become more affordable, i think we'll see that growth in the next 10, 11, 12 years is going to be pretty transformative in the way that people move. >> so again, gm saying it will not be able to hit its guidance of 1 million ev capacity in north america by the end of '25. mike, i'm sure we'll get more details when the company reports q2 results next week. >> all right. we'll look out for that for sure. phil, thank you. leslie, yet more banks we'll hear from tomorrow. what should we be listening for. >> hey, mike. four more big bank

he would be as contemptuous toward them as he was toward mary barra and gm last night. >> turns out theobotaxi delay was not fake news, as he suggested. bernstein says today, "if you believe what elon is saying about his robotaxi, sell uber. if you live in the real world, buy uber." >> i like that. i like that. at one point, someone confuses the uber role versus the -- i'm sorry. the airbnb role. he's saying, listen, the airbnb role, that's who we are. you think we're the uber, and the whole call was so theoretical, it was like a really great seminar, like the seminar that you wanted to take but you were afraid that the professor would yell at you, so you skipped out. but it was a tremendous seminar. >> listening to him, it's one of thinks great superpowers, he can speak with such enormous specificity about different parts of the business and different industries, and then he obviously makes these long-term projections that seem insane, frankly, at least to some. on energy storage, also, he's talking -- most people don't understand how much demand there will be for energy storage becaus

you don't pick up a mary barra piece and see that there are warranty issues.'s the ceo of gm and doing a remarkable job. >> that stock also went down sharply on earnings that were -- >> they were, because in the end, they're losing money on ev and china is no longer good for them. plus, everybody's worried about the china threat, the existential china threat of the cheap cars. ford was terrible. >> jonas said he found it notable, ford spent far more time on their conference call talking about evs than tesla did. he goes on in detail about how much money tesla is going to make from selling zero emission vehicle credits. >> yeah. that was true. autonomous. it was interesting, the piece in -- i can't remember if it was "ft" but about why musk doesn't like biden. it goes back to the union. the president is like norma ray. i liked "norma ray." it was a good movie. made me june the union. >> somally field. she won the oscar twice. >> we seeucceeded in wiping it out, we were so successful. >> is there anything you would like to add? >> yeah, this castle that my wife