stance, they are not just going to cover because the fda gave accelerated approval. it is still a raging controversy in the community. taylor: we really appreciate it. thank you. as a recap, take a look at how equities performed on the day. mostly green on the screen, a lot of this was reflationary energy, cyclicals, technology. technology up 1.4% on the nasdaq. we change up the board, a rate story, the two year yield is repricing, we are now up 90 basis points, this number was 10 basis points this time last year, as we were all focused on

testimony from jay powell. that was the markets wrap. what you missed starts now. ♪ caroline: today we do a triple take. we are looking at companies to watch in 2022. the team considered factors such as growth, management changes, releases of product and services. it's a large list, wide array of companies, gm, airbnb. romaine: old economy companies, new economy companies. take a listen to some highlights. >> the world is not going back

to the way it was in 2019 anymore than it's not going back to 1950. if that's the case, travel is not going back to the way it was. >> we saw impact with the semiconductor shortage. every quarter he gets better. we are seeing a better q1 then q4, but we do think it will linger. >> that is what you are seeing now. quite frankly at these prices, a business that is a real cash machine. that allows us to do what we did in the second quarter, 4% hike in the dividend. >> [indiscernible] three doses will provide for omicron the same protection. >> our strategy is to build the best 5g network.

taylor: let's bring in tim. how do you narrow it down to 50? tim: it's an annual project that we take a lot of pride in. the way we start is you mentioned upfront, looking at companies where we see significant fundamental change, we start with the focused idea, it's not too much of a surprise. high conviction views, differentiated views. those that are 2022 oriented were natural to start. there are several others that have make or break situations.

romaine: let's talk about edie's. -- ed's. -- ev's. tim: volkswagen is the poster child of where we are going. 2022 could be a watershed year. it's the year tesla could be dethroned. tesla is not on the list, but volkswagen is. we think volkswagen comes ahead and has the opportunity to ipo ports. -- porsche. ne-yo is on the new age side of things. a chinese luxury manufacturer, this is the year we think they can hit profitability. there are supply chain companies that flow in.

nine deck which makes electric motors. sk innovation. a korean company. ev plays through a good bit. caroline: reading through the list, amazing array of companies. the pricing -- depressing to see how few are led by women. tim: no doubt. there are several, it is the largest group by number in terms of these company specific actions. one is emerson. if you look at what transpired with ge in 2021, in 2022 we see a new ceo with emerson putting his stamp on things.

this could be another one. vivendi is another one. makes a big european powerhouse of multimedia. there are financial something -- companies with new ceos, with barclays, they have had a checkered 2021. new ceo comes in and we think can drive the company forward through what has been a turbulent time with pandemic recovery playing through and returning cash to shareholders. taylor: if you are not worried about inflation, the second-most worry on your list be covid, and what a company looks like. who are the companies you guys are following that are or are not worried about covid, and how do they benefit? tim: this is interesting.

one of the ceos was pfizer. we all know pfizer's and vaccines, but the enabling technology for a pandemic recovery are the vaccines. the thing we don't think is recognized in pfizer is the revenue generation capability to bring forward with boosters and antiviral pills. if that takes hold as we expect in the economy propels ahead in the u.s. and globally, we have a travel recovery. companies like airbnb will see bookings, but the new normal also includes longer duration bookings which are a big deal for airbnb and we changes the game. a european tour holiday company we think could see a significant ramp in the second half with holiday bookings.

there is an interesting chinese hotel company that significantly expanded their hotel base over the pandemic to try and take advantage of the reopening, and we think they are quite well-positioned. caroline: a global take. thank you so much for staying late. coming up, talking with one of the ceos from one of those key companies. that is next. ♪

>> i have always felt market cap

valuations and value can collide. there is more need to organize information than ever before. >> we have businesses that benefit and a low interest rate environment. we also have businesses that benefit from stay-at-home as well as reopening. we have been able to navigate. romaine: you are just listening to some comments from ceos that made it into today's big take. 50 companies to watch. sofi is one of them. let's bring in a senior analyst. let's start off with sophia. -- sofi. they were backed by softbank. what is so special that i guess

is different than back in the 1990's when online first became a thing. now we are just left with bank of america. >> the interesting thing is they do so many more things. most online banks tend to be a checking account and debit card to make transactions. lending is the holy grail for online banks. that is where they are all looking to go. sofi is already there. they started with student loan refinancing, they moved to home refinancing. recently, personal loans. they also have an interesting super app which is more than

just a checking account, it integrates loans, budget services, investing services. you can buy crypto throat. almost anything you want to do. taylor: we're taking a look at share prices. it's been volatile, back down to a 13 handle. are investors missing something about future growth? guest: we have seen across the board a big selloff. sofi has not escaped the multiple contraction for these stocks. i think it's more about that than anything company-specific. what investors need to remember, as we are looking at a lower interest rate -- higher interest rate environment, we have a company with a loan book that can benefit as rates move higher, and a company that has

focused very much on young, high earners. this is not a subprime lender. they focus on good credit quality types of loans. that should be something for investors to focus on. more loan opportunity, especially as stimulus slows down and consumers are less cash heavy. less credit risk. you have solid credit risk in terms of the consumer loans. then you have the return, probably by may of the core business with a -- which is student loan refinancing. caroline: it's interesting. with citadel securities in the news, the fresh round of funding, getting into crypto. last year we were all talking about meme stocks. robinhood is another company

that you think has interesting 2022. guest: robinhood is going to see a lot of activity. a lot of the big questions abound robinhood may start to be solved this year. one is around shareholder lawsuits, really big focus, massachusetts. companies that temper down on advertising. sec rules. you may get more clarity there. then you have the whole idea of everyone eventually getting back to work that has really helped robinhood. most recently, the crypto selloff. will the company be able to weather that storm, moving to more formal -- so many questions. taylor: music to caroline hyde's ears.

really appreciate your time. we want to focus on another company on that list. fresh pet rising sharply after sales growth jumped nearly 30%, this is according to nielsen data. it has been picked as one of the 50 companies to watch in 2022 according to bloomberg intelligence. joining us now is the ceo. many pet fans on this program, it's great to have you. talk to us about the differentiating factor. there have been a lot of food and services companies, what do you do to distinguish yourself a mistake on the titian? -- amidst big competition? guest: our founders saw the opportunity to change the way you cook or make food. there is a lot of dry in kibble and cans, there is also frozen food.

we're the only real fresh pet food. it's not easy to make, it is not easy to manufacture, distribute or sell. but founders did a phenomenal job creating a business model, when you get pet food in front of your dog, your dog is never going back. once your dog has tried freshpet, the difference it makes in their health and vitality, you are not going back. that is the secret sauce. romaine: we should point out, when we talk about a product like this, a lot of folks will point to the idea of competition, a more established company could come in and make their own line of fresh food products. how did you insulate your business? guest: the really good question. it is one of the greatest strengths of the business.

anything that is too easy to do is too easy to replicate. making freshpet is really hard. we have a network of refrigerators, $100 million of refrigerators. over 25,000 fridges that we bought and installed and know how to maintain. the second thing is making food, making a product you can pack and ship in a refridgerated truck to a refrigerated warehouse and store, and has a limit of shelflife that has a high enough quality is not easy to do. we now have over $900 million of manufacturing projects underway to make more fresh pet. by the time we hit 2025, we will have $2 billion of net sales capacity and manufacturing assets and nobody else will have anything significant. just manufacturing and free

network alone are big barriers. then there is the power of the brand, the technical knowledge we have, ultimately you get down to, we have a higher -- highly loyal audience. romaine: we have been showing video footage of freshpet. it all futures dogs. -- features dogs. [laughter] guest: 4% of our businesses ca -- business is cat. taylor: cat food is very stable, caroline. caroline: only 4% of revenue? people like taylor, who love her cat, are willing to spend. we all will spend. i'm interested about

inflationary pressures. some of the food we are selling you, this is high and stuff. -- end stuff. guest: it is good. the first time i bought fresh -- brought freshpet home, my 17-year-old son said the smells better than dinner. my wife was not thrilled. we announced yesterday that the inflation we are seeing from the end of q4 2020 two what we are projecting for this year is going to increase our costs by 17%. a lot of that is protein, chicken and beef. we are very reliant on chicken and beef. that's a big challenge for us. we have taken a price increase, we have announced another at the end of february. the good news is, from our perspective, the price increases are in line with what the rest of the industry is doing.

the consumer is generally seeing higher prices. that is the reality. we have to pass those costs on. in this category, consumers are willing to pay more for higher quality pet food. the category trend has been moving much toward -- more toward super premium pet foods and away from lower cost or value-oriented brands. it cost $1.70 a day. you're going to increase your cost $.30 a day. taylor: the ceo of freshpet. i am choking, mocha went to the

vet. he is 15.5 pounds. two years ago he was seven. [laughter] some pandemic weight. we are going to work on it. [laughter] ♪

romaine: getting back to the big headlines. on biogen, last year the controversial expedited approval. we are learning medicare is going to limit coverage of that drug. joining us now is our health care reporter. reporter: today medicare saying they will cover the treatment in a subset of patients. it will cover the drug for

people who are willing to enroll in a critical -- clinical trial, officials are saying is the most restrictive -- this is a draft policy. they will finalize that decision in april. romaine: we are getting a statement right now crossing the wire. biogen confirming what you just told us and saying the decision will limit patient access to approved drugs. guest: the action they can take is to make their case. their position is that cms should cover the drug for people in the trials, but of course cms

is taking into account multiple factors. caroline: that breaking news and analysis. that does it from what'd you miss? we wish you all a good evening. this is bloomberg. ♪

from the heart of where power, money, and innovation collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. ♪ emily: coming up in the next hour, the volatility continues for big tech. are there more selloff to come? jamie dimon doubles d