bidding will start soon, may 1st, and easy to bid >> folks, that's all from kr christie's we didn't bother showing the jewelry. >> have fun, great stuff out there. thank you for watching "power lunch," and "closing bell" starts right now ♪ hi, everybody, welcome to the "closing bell" on friday, i'm kelly evans. >> i'm wilbur frost. i was nervous for them i would have tripped and broke something. would the tab be on us >> i don't know. >> glad they didn't do that. the dow swinging more than 160 points in session, and we'll discuss what's driving the market as we begin this, the final hour of trading for the week >> one of the big movers this week, of course, amazon, the tech giant soaring to new highs on heels of the earnings report

yesterday, in fact, out to deidre covering the moves for us to talk about risks that lie ahead. >> reporter: that's right. market cap closing out on apple and attracting upgrades from analysts today with a trillion dollars in their sights. the company's core business is e-commerce and cloud computing and continue to dominate, but what is really propelling optimism on wall street? are the performances of newer businesses like advertising and subscription services that are high margin and growing faster than anticipated advertising now a multibillion dollar business for amazon and e-market are expecting to challenge the google facebook duopoloy in the coming years despite the earnings euphoria, i'm talking risks. amazon is spending big on lower margin and unproven businesses like hardware, groceries, and, of course; expansion abroad, particularly india

for now, wall street loves the fiscal discipline from amazon, committing to over a billion dollars in operating income in the current quarter, and hiking the price of its prime membership by 20% to help pay for the increasing costs of that program. now, even with the hike, i want to point out, amazon still cheaper on a monthly basis than some of the options at other popular subscription services like hbo now at $14.99 and netflix, and question is, guys, will customers agree with that back over to you >> the two sneaky $2 billion in advertising, very helpful in terms of having a better margin in the core retail business, but are analysts wondering whether that opens up the market to regulation and scrutiny moving forward given the data privacy issues we've had recently? >> good question, and amazon already opened up to the issues particularly gaining the attention of the president and his tweets, and so regulation is a big question for them going

forward. they did not answer anything directly on the call, but something to think about remember, amazon is getting into advertising. if there's worries about facebook with a ton of data, amazon has a lot of our credit card information, too, so that certainly is something to think of going forward >> yeah. they can figure out a lot about me based on my recent shopping history. >> and purchase history. >> exactly >> we mentioned the price hike for prime, so we hit the streets of new york and san francisco to find out what customers think about that price rise. >> reporter: are you willing to pay more for amazon prime? >> absolutely not. i know i'll get $20 worth out of it and would order two to three weeks. >> i think it's still worth it >> i think some people will reconsider and say i'll have a package take a little bit longer >> it's not the first time

they've done it to me, but i'll eat the cost because i'm so addicted to my amazon prime. >> i use it every day. that 20% is not a giant number, so it's in the going to affect me that much it's so convenient it's not pushing me away. >> i've always thought it was too exceptive, so, no, i wouldn't pay that extra money. >> i mean, i have to say i can't believe anyone would complain. what you get - >> i don't want to pay $20 more a year, but i have to admit, i got nowhere to go. i funnel everything through that platform >> whether we talk about amazon prime increase, recent netflix increase, in general, per dollar, the consumer gets more than five years ago, ten years ago, whether you are talking about traditional media or delivery >> there's a lot of people, like, when that charge comes through, and, by the way, if they didn't say they were raising it, people don't know what that number is, goes through, hits the credit card, $50 would be more of a shock

the producers said, go to a store, we try to go to a store, but it's four hours on a saturday to plan to get there. >> and now you get video streaming, and we saw the prices, it's cheaper than hbo and netflix. overall, people can't complain it's a great service >> they can. >> but not legitimately. there we go. >> they will pay up, how about that amazon 4% higher >> which, by the way, jim was surprised it was not more. >> fair enough yep, hit 1640 yesterday. moving along earlier today, i sat down with value acts and what he said about why he decided to leave the board of fox today have a listen. >> to an extent, i feel my job is done, and now the news of this week is interesting >> well, because comcast is still making an offer for sky. >> and the proxy -- is the

approximaty noted they were apples and oranges, regulatory risk, one did not, and i would expect to see things change. the board will exercise its duty, and as a board, i trust, will work through it >> you feel like this is a done deal >> i feel like disney's a fantastic deal for fox, and, you know, when you look at amazon and how they do prime, none of us really expected that they would give away video. it's, like, the toaster to the -- to, i guess they want the $4,000 retail spend, so the idea we're a toaster sucks, and we need the disney fly you know wheel, the content to drive the parts, that drives the retail, and drives the content and parts. >> you don't think you can be a a stand alone content provider >> i think it's really, really

important, and it makes disney different and strategic. >> how much capital has that returned to investors now? >> $3 billion. >> wow that's quite a sum >> yeah. >> so look out there and see companies like amazon getting bigger, why is it, to you, that the opportunity that is a way from those big companies, watch it go to 220 and feel there's a different place to be right now. >> funds flows, passive money going into big caps, and big caps are structurally expensive. i think to be an active investor in big caps, it's hard because it's hard to manage the money and deploy it in -- what could be better than to get on a board, own 1% of the company, and be liquid when you want to sell, right? that model makes sense, i just don't think big cap active

investing is really -- it's not really available >> do you have any personal views on social media and technology as it relates to your own usage of it, kids, family, societies? >> i mean, i think the ad-driven model where you centralize the internet on a single platform where the polarized messages to sell more ads because you stay online longer is a disaster, frankly. >> and so what should the companies do about it? >> shut it down. >> shut themselves down? >> we were hoping. >> i don't think you're joking it doesn't look like it. jeff ubben of value acts talking about social media, and,

frankly, maybe they shouldn't exist. there's a new fund, laser focused on aligning long term and society with strong performance. >> wishful thinking after this week's earnings that the companies shut themselves down back to the top of that, he still seems to think disney's deal to buy fox was a done deal, and implied it was a done deal relating to sky. well, that is wishful thinking as well given this week the independent directors of sky withdrew their recommendation for the bid and comcast bid more significant. i guess if that whole package deal remains a done deal, they have to release the earnings >> his part of the regulatory hurdles appeared higher than with disney. we'll see what ends up happening in terms of the deal price, and clearing it through the u.k., but he was making the point that sky, you know, you had fox -- he's been on the board for three years. you had sky sitting there in that company arguably

undervalued by the public markets, and only suddenly, as the deal making has started, has it become a prized asset everyone's fighting over interesting valuation. >> absolutely right. it will be interesting to see how the deal continues to evolve breaking news from the toronto stock exchange, suffering major problems today dom, what's the latest >> those major problems at the toronto stock exchange, and every canadian exchange has led tmx to suspend trading at toronto and every other exchange they own for the rest of the day. tmx tweeted, the parent company of the toronto stock exchange, mond montreal exchange and others, they are shutting down all markets for the remainder of the day, trading not resuming together, including market onflows and apologize for the inconvenience, further updates will be provided calling your attention what's happening on the chart of the toronto stock exchange's activities at 1:40 p.m. today, trading just

stopped. that's about the last time we saw a trade happen on the exchange, so now we know the rest of the day we'll have nothing else as well bringing you details as we know more here, but this is a big development here, no one trading on the toronto stock exchange or other major exchanges operated by tmx group back to you. >> wow >> thank you very much for that. >> interesting open to watch come monday morning. turning now to the major international news of the day, kim jung unwas the first to visit the korean peninsula since the war, president trump addressed the historic meeting earlier today. >> we seek a future of peace, prosperity, and harmony for the whole korean peninsula and not only a brighter future for the people of korea, but for the people of the world. however, in pursuit of that goal, we will not repeat the mistake of past administrations.

maximum pressure will continue until denuclearization occurs. i look forward to our meeting. >> cnbc is live in seoul with more on the outcome of the meeting between the two korean leaders, and i guess the many hours that pass the during the day does not dampen what an extraordinary event this was >> reporter: absolutely not, wilfred. people here were shocked and surprised by the events today. south korean officials say that president moon is going to be having a phone conversation about the summit with president trump, and he'll likely say that the dramatic events today out of the korean peninsula will set the stage nicely for potential meeting between president trump as well as north korean leader kim jung un because today was potentially a turning point in a conflict that's been technically going on for decades after the summit, the two leaders issued a joint

declaration where they vowed to end korean war, and they also said they would agree to phase disarmorment and the complete denuclearization of the korean peninsula. now, this is the formal side of what has been a fascinating day here, proebbably the most talke about event when kim jung un, the most secretive leader on the planet, walked up to the podium and addressed the press live on television he said that he hoped that -- he believes that both the north and south koreans were the same people, and he said he hoped that they would be able to forge a new path forward, and that really had a dramatic effect on the south korean people. a lot of people were talking about how they were deeply moved by this, and they were openly wondering tonight whether or not in their lifetime they would see the end of the conflict. and now all of that is all well and good, but the south koreans

have seen this movie before. since 2000, there were two other summits, and both of them ended in similarly worded peace agreements, but at the same time, they really did not result in a lot at this stage, people are still wondering whether or not this time this declaration is going to be any different because we don't know what kim jong un's intentions are and how committed he is to dismantle the program wilfred? >> thank you very much for that. more on the developments, fred kemp, welcome, and, you know, as exciting, i guess, to some it is to watch all of this happen, realistically, the north korean state is a brutal dictatorship that played the entire international media beautifully to rally around the cause of, frankly, i'm not sure

what what do we expect the point that eunice made comes from the meetings of the two koreas or the one with the president >> well, there's going to be a meeting in between on may 9th in tokyo, the first trilateral meeting of china and japan and south korea since 2015, and it' possible president moon comes to washington, d.c. to see the president before his own meetings, i think what's interesting about the meeting, obviously, there's a lot of points on style, seeing kim walk out before the cameras and into the dmz. the other thing we learned is kim also wants, as much international validation and just as happy to have a photo op in a meeting as president trump would be what does he mean by "denuclearization," and it was not any documentation, repeating a lot of what's been there in the past the new part is a little bit

more focused on political exchanges, societal exchanges and sport ps exchanges. if that iscared out, that's new. >> should we give massive credit to president trump, the fact things have moved to progress from where they were in. >> this is not going to be popular with the critics, but you should this meeting would not have happened had it not been for two things first of all, maximum pressured sanctions. kim was running out of money he was spending $250 million per month, and he only had a billion, according to estimates, and the million people around him that depend on him rely a lot on dollars and the chinese currency, and so he was getsi g into trouble i think he feared that the trump administration was prepared to take military action, so i think

you have to give trump a lot of credit, and then you have to give president moon a lot of credit he is a very different south korean leader. he has been a peace activist for some time, and he's just willing to take more political risks >> again, not to diminish the significance of what's happened, but this is a north korean regime who awards people with food for how much they skew the line politically in this country. are we naive to think this liberalization leads to change in the entire character of the regime or to less repression on the ground what -- i don't understand why this is seen as some significant move where the north koreans should be awarded with sports exchanges or whatever you were saying earlier when they show no signs of changing the fundamental problems >> well, any time a very repressive and closed regime opens up, it's more of a danger for the closed and oppressive

regime than it is for the open regime next door i agree one should not be overly optimistic on the other hand, what they call between east and west germany when east germany was oppressive and west was the open regime they calmed it change through grows closer, and germans bundled, change to grow closer, and north korea will have more trouble staying the same when their people have contact with the south. will president trump come in ready to negotiate what he's going to have to do is really front load the incentives economically, but also front load the denuclearization. the taking out of the system, a nuclear actor. dismantled icdms the longer you do not take the denuclearization steps, the more pressure is takes off or the more pressure it is to lift

sanctions, and that's what kim wants, easing of sanctions without having to give up in the end the nuclear weapons. zpr rig . >> right >> fred, quickly, we talk trade on this network, as you know well, and, clearly, president trump threatened china with various trade sanctions, to what extent has that played into this historic korean summit >> well, i would actually separate these two things out, but, clearly, the chinese are concerned enough they are making some unilateral concessions on trade, and now you have the cabinet members flying out to china for a special meeting with the chinese. on trade, i think the unpredictability of trump, again, played a relatively positive role. i mean, let's see where it ends because it could be not positive in the end if it goes from unpredictable to not, and if yo

have a better relationship with china on north korean trade, it heats both things, but they are not directly linked because they have such an interest in themselves of denuclearization in the korean peninsula. >> fred kempe talking carerra, thank you. >> thank you we have a news announcement, leslie >> that's right. a former senior executive at bank of america was fired amid allegations of sexual misconduct filed a defamation claim against the firm cnbc learned. he's seeking damages of more than $100 million, and he was a managing director in bank of america's pine brockers unit believes the foirm defamed him after he was terminated. his attorney told that to cnbc, and, quote, the bank stands by its decision to terminate him, and claims without merit and

we'll defend ourselves in this manner reports surfaced earlier this year that said malik departed the firm after a young female bankers accusation of inappropriate sexual conduct from the bank briefed on the investigation, and then in late february, the wall street journal said who more employees in his unit had been fired over what the bank believed interference of the probe of the behavior he said malik did nothing whatsoever to interfere with, collude, or obstruct in any way, he has never engained in wrongdoing, and as such, there was nothing to even collude. this claim is in addition to a discrimination lawsuit he's prepared to file in new york state. the focus of the separate case is his middle eastern dissent and bank's propensity to retain

white male executives with a t pattern of this behavior guys >> does that final part mean the $100 million figure could get bigger or included in the $100 million figure if, of course, anything comes from this >> could get bigger. it's strictly related to the arbitration claim, and the majority is related to reputational damage or defamation they are alleging >> okay,less leslessokay,lesslr that take a breath, in d.c. this afternoon. we got 38 minutes until the close, and the dow at this stage is down one point, so we had essentially flat for the day, and the s&p is higher, and nasdaq and down down one basis >> we're just getting started. next up, utilities with rising rates, are there still opportunities to find good buys with great dividends? plus, the ceo of a top casino company, his stock is down 15% in three months, is it worth

gambling on? the "closing bell" with kelly evans and wilfred frost live from the new york stock exchange returns in two minutes you know what's awesome? gig-speed internet.

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welcome back to the "closing bell," down on the utilities, you can see it's lagged the broader market this year as bonds rates rise it's offered an alternative to income investors >> could have buying opportunities in specific names, and dom has a look at the utilities sector >> we have wall street experts if you are not bullish on utilities, what's a bull case for them we take you through the commentary that we got jame james lou said it could be attractive for income for long term investors who withstand short term price volatility. the next we got from art hogan who says, why shouldn't we look at strong dividend payers, lever to the economy, sound and important businesses that pay above market yields. moving on to another bullish comment about what's going on. we got michael purvis who says it's a domestic play, not in the

tariff discussion, and you don't have the tech and fang oriented risks we have in the marketplace. another one to look at here as well, michael over at jones trading, group trades at 20% discount to the broad tape and approximately 20% less volatile than the overall market, and another bullish comment here, that's chris hardy at wells fargo saying now that the group has been working somewhat near term despite a rise in rates, there appears to be more interest in the sector utilities may underperform because rates rise this is richard over at treasury hightower who says the benefits of tax reform, global growth, employment gains, et cetera, lead to inflation, higher interest rates, utilities are interest rate sensitive. avoid them there's the bull and bear case let's see what investors say, but p right nright now, could bt of opportunity, guys, back to you. >> dom chu, thank you very much for that

shares of u.s. steel down big today, what's behind the move, and what it means for broader steel industry back here in a couple minutes. hi! i'm mike ditka.

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this is your cnbc news update at this time. thousands of striking teachers in arizona will return to class if lawmakers meet their demands.

they are rallying for a second day at the state capital calling for a 20% pay raise and increased spending in education. teachers in colorado are also rallying for a sec day in their state's capital, and they want increased pay and better classroom resources. colorado lawmakers have agreed to give schools the largest budget increase in decades, but the teachers say it is not enough the university of virginia banning the main organizer of last summer's white nationalist rally from the campus. in a statement, they said they issued a no trespass warning to jason and in the process of serving him of the warning many americans reportedly are putting off retirement plans. according to a recent survey from career builder, 53% are full-time workers aged 60 and over, say they are postponing retirement, and 40% don't plan to retire until age 70 or older.

that's the news update this hour, back downtown to you i'm going to have three in college at the same time, i'm never going to retire. >> well, fantastic to hear, sue, and i think i am, but not yet. anyway, sue, thank you very much for that, see you next hour, and as we approach the last half our of trader in the week fractio l fractionally lower on the dow and nasdaq and higher on the s&p. we are set for the first negative week in three for the dow, for the nasdaq, and s&p, if it finds a little bit more emphasis could eradicate i it, .02% losses for the week coming into today. the best sector for the week is energy, worst industrials. joining me is mike, focusing on the big individual movers today, u.s. steel >> punished ahead of earnings last night, and bottom line beat forecasts, but there's concerns that cash flow forecasts for the year is not living up to hopes, and operational challenges, they call it a one or two plant, what a wild ride, though, the stock had, so up 35% from when the

tariffs for announced on steel and aluminum early february, down another 30% including today's drop there's confidence waning that, in fact, the tariffs are going to take hold, or, in fact, just the business itself is not performing >> that pullback as well, 15% of it, that's coming today because of earnings, so there's still a nice tariff premium into the names today. >> in fact, the ceo today did say they are optimistic, and tariffs are working in their perspective in terms of helping out pricing. it's not clear it's a volume story or, in fact, it's going to be applicable everywhere, so yo nobody knows if the prices stick. >> great, mike, kelly, back to you. >> thank you less than a half hour to go, markets negative, dow down 13 points, and s&p with a gain of three, and the russell 2,000 weaker transports up 129, a lot of divergence here on wall street today. up next, more interview with value x capital jeff ubben, learn about the stock he's focused on when the "closing

bell" comes right back

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to showing that we need to invest in this community. i knew having the right partner we could turn this place around. it was only one bank that could finance a project this difficult and this large, and that was citi. preserving affordable housing preserves communities. so we are doing their kitchens and their flooring and their lobbies and the grounds. and the beautification of their homes, giving them pride in where they live, will make this a thriving community once again. ♪ welcome back to the closing bell, we wanted to recap developments in canadian trading that happened just this afternoon.

we have not seen any stocks trade on the toronto stock exchange or any other exchange operated by tmx group in canada as of around 1:40 p.m. eastern time this afternoon when a technical glitch disabled trading for all the company's trading, including the toronto stock exchange look at what's happened so far tmx group did say earlier they tweeted that they decided to shut down all markets for the rest of the day. trading will not resume today including market on close orders, apologizing for the inconvenience, and further updates will be provided we are awaiting updates, but as you can see with the chart, as of 1:39, 1:40 thereabout p.m. eastern time, we have not seen anything trade i will note this, many of the stocks that trade on the toronto stock exchange have dual listings in the united states. i can think of toronto dominion bank, railways, and pacific, those big names. it not affected volatility of

those shares traded here in the u.s. we'll monitor what's happening here, but, kelly, a recap, we don't know anything more we'll wait to see if they put out a statement about what's going on there, guys, back over to you, kelly. >> i hope they can at least explain if it's a glitch, you know, might there be a hacking, you know, could be anything, but it's a big deal, of course, dom, thank you, bring it to us when you got it i spoke with jeff ubben about a stock he is revealing for the first time take a listen. >> we are invested in what i call content companies in the new fund strayer education, the for-profit education, going from 50 billion in market cap to 5. >> wow >> student outcomes were poor in the industry i think obama was largely right, maybe took it a little too far, but strayer has been around 100 years and came out the other side fine because they delivered good student outcomes, but the interesting thing is they have

taken the tuition down so while there was, you know, a question around online education and is it efficacious, strayer's been taking tuition down to make it affordable that's the problem in education is affordability they have been investing in artificial intelligence to the point where their mar joins have gone 30% to 10%. >> wow that should be unattractive to a lot >> making the product affordable >> just i want to point out this strayer investment is in the new value act fund, spring fund, focused on stainability. you'd think it's a green name, but, no, it's a for-profit education company that he thinks helps a lot of students, people, corporate workers like at starbucks, and other major companies, get the cost of the tuition down to the single digit thousands numbers, more widely available, dealing with the debt issue, and that's why it's attractive >> giving back a lot of capital

elsewhere. >> $3 billion as he said earlier, just more attractive opportunities in the mid cap space. to be an activist investor to get involve and turn a company around >> 20 minutes to go until the close, and we've got markets essentially flat at the time the dow down 4 points, s&p slightly higher, meaning for the week or so, the dow down about 0.6% let's get to our closing bell exchange our guests are david kelly from jp morgan fund, and keith, and rick santelli at the cme in chicago. >> kevin o'leary on the phone with what's happening up north with the shutdown of the toronto stock exchange, what can you tell us? >> caller: there's not a lot of information right now other than that institutions, particularly canadian institution funds, a lot of the sovereign funds, and investments in canada are getting liquidity and exchanges,

but the large cap stocks in canada are trading in others, so this is causing a lot of chaos, a lot of fighting when people do not want to go into the weekend long or short or in any position sometimes, and it's not clear what's going to happen here because this is extraordinary. we have not had this happen in years and years and years, so i've got -- i've got investments in canada now, and it's literally freaking out trying to find out how to get liquidity or take positions into place somewhere else, but many canadians, particularly mining companies and national resource companies do not trade with liquidity anywhere else other than the tsx and montreal board. >> kevin, what about the futures market in toronto? is that typically liquid over the weekends and things or are we waiting until monday morning? >> caller: no, it's very liquid going into the close on a friday, and now you can't even use that for a leaf to take the other side of a position i'm going to make the assumption, guys, this is will be open before 4:00.

i mean, it's just extraordinary. you know, there's particularly in the canadian banking stocks it's represented any one base, 40% of the volume. it's just -- luckily, they have relief in their american counter parties when they trade and list things in new york, but the problem with that is you're taking currency risk, and if you can't use a forward to hedge out your currency risk, it's just the same problem you started with you don't have liquidity so i think i'm going to know more in about 20 minutes i got someone walking into the exchange to ask what's going on because we have to know. i have to know >> kevin there, they are getting no other information, and i hate to ask, no speculation in the market right now about what's happened >> caller: no, there is not. speculation at this point is not helpful because the real decision that matters is do you try and normalize your position in other exchanges and go

through the weekend with currency risk? the usd canadian dollar is extremely volatile, and when you take a multimillion dollar position through the weekend, that's tokyo risk. you don't know what's going to happen in asia, you don't have forwards to trade against it you don't have a way to lock it in no one sells you a contract to edge your position that's why i'm pretty sure this is going to get resolved before 4:00 >> there's not much time left, though, kevin, for that to happen you are confident. where is that confidence coming from >> caller: i don't recall ever going into a friday, and i've been trading a long time in the canadian market, without some kind of release before the market closes. never. i would have to say never. the montreal and toronto exchange, that's extraordinary >> what do you think it will be, hours, kevin >> caller: maybe >> it makes it worse and worse for yourself >> caller: yeah, i know, but, kelly, what makes people saying

nefarious things is both exchanges to go down at the same time, that's just unheard of there's something -- you know, that's unheard of, just unheard of, so now we need to know why, and why is it in sync. the markets are independent. >> yeah. they want to know what the link is between the closure of both of them at the same time kevin, thanks, please, of course, if you get information related to it, as soon as i can. >> caller: i'll call back in the control room in ten minutes when my feet are on the ground in the exchange which i will have >> thanks. great stuff, kevin he know the man. going straight into the control room more details when we get them. we'll do the exchange coming up after the break, and, in fact, change of plans, we'll do the closing bell education change right now. all three gentlemen are standing by for us. dave, keith, and rick, i'm going to start with you, in fact, given the fact u.s. markets are

flat as we approach the close, talk about the dollar this week, which is closing nicely higher for the week as a whole, 1.5% or 1.6% stronger again today is that because of factors like u.s. gdp or other currencies like in the u.k. are weak in their own right? >> i don't think it's the former as much or issue of gdp. as a matter of fact, if you look at the early session for the dollar index, it was trading darn close to 92, up there since the second week of january it fell a bit at 91.5, but at 9 1.5, we settled at 90 last week, you think changed on the day, and my personal feeling is with the two-year note curve passing 2.5%, oversimple terms, it's darn hard to finance a short dollar position without pain it's expensive to me, that with the variety of other factors, the moderation

that mario draghi talked in the press conference being pronou e pronounced and nerve racking in europe where they have not even begun any central bank major normalization of any significance, i think exaggerated that and, obviously, the pound contributed. televisi it was a great week for the dollar, but temper the exuberance if it's not popping above 92, that would be a big disappointment so we have to pay very close attention and fix income, does it get better a new high, challenging only close above 3%, last day of 2011 for that, that's exactly the high-tech in additions have used off their chest, calling 295 as the old high where are we playing between those. br break out either way and we'll have a bit of follow through >> are you seeing impact on the

floor here from the closure of the exchanges up north >> not so much there's extra volume and adrs or stocks dually listed, but kevin's right, it's a major event and to be down at the same time begs to question. i think the conspiracy theorists could have a day we have not seen this spillover effects here it's been trading as normal. a bit of a choppy trade that we've had. markets -- >> lot of divergence dow one way, s&p, transimportantransimportanportsr big. >> searching for direction at this time. we reached to a neutral stance, and i will say, though, the dollar has been overbought for us while the euro is oversold, typically negative for the short term something to watch >> david, this week has seen the earnings beat positive share price performance in a way the first couple weeks of earnings season did not is that an important turning point for you in terms of the

next couple weeks? >> i hope it is. we've seen -- this is an extraordinary earnings season. we've got 8 2% of companies beating expectations, way above what we normal ly get, and the first quarter is up 28% year over year on operating earnings, and the only negative is this about as good as it gets we have to learn to live with as good as it gets. there's five years of earnings growth, telescoped into 2018 here, so i think you have the level of earnings that's excellent here, and for a while, hard to see future earnings in 2019 and 2020. they have to be comfortable investing in equities, but having a hard time doing that. the earnings numbers are extremely good >> okay. thank you, all, very much, and we'll leave it there because of the breaking news. keith, david, and rick, have a lovely weekend 12 minutes until the close, essentially flat on today's trade, slight gain eked out by the s&p, up .20, and nasdaq higher, and dow is flat.

up next, sakpeing with the ceo about their results in boyd gaming gaming stick around, we're back in two. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.

welcome back, boyd gaming reporting better than expected earnings stock is up 40% in the last year >> looking at the numbers, there was strength in the midwest, weakness in vegas. is that a fair summary >> well, actually, i think we had strength in las vegas, actually, in the las vegas local position, posting 12th straight quarter of growth in the las vegas locals market, and downtown vegas, two properties produced extremely strong results. our midwest properties produced good results for the quarter in the face of harsh winter weather. >> keith, what is your first move going to be if the supreme court effectively allows sports gambling in new jersey and

elsewhere? >> ook, if the supreme court overturns it, it's great for the industry and boyd gaming we operated the largest books in nevada for 40 years, great experience, and fully prepared to take advantage of it if it rolls out across the u.s >> are you concerned, though, the advantage of going to, that you had in vegas, yeah, come here, bet on sports already, is that eroded? >> no, i don't think so. i think it expands the market. think about the evolution of gaming, the evolution of the industry over the last 20, 30 years, that's expanded throughout the u.s., it brings more and more customers to vegas, and so i think it will just expand the business overall. >> keith, are you finding that with the negative publicity that surrounded steve wynn personally in recent weeks affects traffic from his hotels, and have you benefitted from the side of that >> we don't have a lot to contribute with respect to the wynn conversation and have seen

no difference in the business as a result of the noise surrounding wynn resorts >> okay. keith, thank you very much, appreciate it late on a friday, keith, excuse me, keith smith, my apologies, of boyd. up next, straight back to the closing countdown. kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. they're not investing in commodities or fixed income. what people areally putting their money into is what they hope to get out of life. but helping them get there requires a real refusal to settle for average. because when you approach investing with a tireless desire

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welcome back, up to speed on what's happening with trading why canadian exchanges, a trading outage in the toronto stock exchange earlier this afternoon. this is what we know so far. at 1:40 this afternoon p.m. eastern time, a lot of securities experienced a technical glitch affecting the toronto stock exchange in all of the other exchanges operated by tmx group. nothing has traded since then. about an hour ago, tmx said in a twitter statement that the tmx group decided to shut down markets for the remainder of the day, and trading will not resume today, including market on close. we apologize for the inconvenience. further updates will be provided we also now know from the u.s.' standpoint, you can see, no trading happened at 1:39 this afternoon, that the nasdaq here in the united states has said that trading in dual listed canadian stocks in the u.s. is

normal on its system they are seeing a slight uptick in volume, but no real volati volatili volatility they could have more information later on it does not seem to be affecting the price action for many of the dual listed stocks what we do not know is what the cause of the particular issues have been. we are still waiting for a statement to that effect, but now you're up to speed that's what we know and don't know as we learn more, we'll bring it to you back to you. >> thank you so much for that, and new york stock exchange made a similar statement, canadian stocks trading just fine, two minutes left, of course, to trade just fine, and we are pretty much flat on the day, slight gains in the s&p, and for the nasdaq, the dow is pretty much at flat for the week as a whole, likely still to mean declines for the first time in three weeks. particularly for the dow, which is down still a half percent or so sectors, telco at the top, and t-mobile and sprint closer, and

energy down about 1%, partly because of exxon reporting this morning, down 3.6% a quick look at s&p for the week as a whole, just about flat, but slightly negative, tuesday, was the big down day, thursday the up day, and rest of the day, not moving too much. we skip sectors for the week, going to the dollar for the week, one of the stories raising today because the british pound is falling fastly, and seven week lows for the pound. great shame. what else are we watching? >> a big week for a rebound for the fang stocks, amazon, race is on for the trillion dollar market cap, talk after better chan expected earnings, and amazon beats apple to get to the $1 trillion, and earnings continue to be the focus next week, and alibaba, apple, and tesla. the consumer driven names after the bbc number, consumer confidence below expected. >> a quick look at the sectors for the week industrials suffering, earnings related, and energy at the top,

suffering today, energy, but energy up a decent 2% for the week as a whole, of course, oil prices have been up. >> chevron, a good report there. >> exxon was weak. there's the bell, off 8 points on the close to the dow, and slight gains for the s&p ringing the bell, world gold counsel at the nasdaq is in light. that's all for the first hour of "closing bell", kelly's got the second ♪ >> thank you, welcome, everybody, i'm kelly evans, drama in canada, but looking at the dow, shedding 12 points, s&p with a gape, and nasdaq yesterday afternoon after ama n amazon's results, the qqq up 1%, michael, closing today barely higher at 7119 >> amazon up a little bit, lost a lot of gains, seems like, you know, selling on the news is the

theme. >> yes, more on that in seconds, russell 2,000 down with a couple points, and you saw in the market today, we have mr. santolli, along with evan newmark on a friday, cnbc contributor, and john blank at zach investment research biggest winner in the dow today, by the way, well, let's get to that in a seconds. we have to figure out the situation up there in canada toronto and montreal stock exchanges closed sounds like they did not reopen. >> caller: nope. good news is, there are competing exchanging in canada, one is called neo, and nasdaq canada does 20% of volume. everybody was able to close out in neo today was saved, world bank canada, one of the largest market caps in canada, had a closing price a minute ago, it's a garden variety technical glitch >> so that means anybody

affected by this would have been able to trade elsewhere? >> caller: yes, yes. >> even so, an explanation for why two exchanges, toronto and montreal that have nothing to do with each other shut down. >> caller: with the exception of derivatives, it's a single platform, and that's the problem. to try and make a much more s g synergy market, they closed together when this glitch occ occurred all closed out in canadian currency there you have it, neo, an exchange never talked about, having a day in the sun today. >> it is thank you for walking us through what's happening in realtime >> take care >> just wanted to mention there's movers in the dow, v veriz verizon, 3.5%, and exxon down 4% today, and in the s&p, big earnings, sibb financial led the way with a nearly 19% gain

the top decliner in the dow, charter, down 12% despite earnings this morning. mike, circling back to the trading patterns, the most significant thing is these amazing amazon results and huge move yesterday that e vap waited >> we hit on the possibility yesterday that this was a good cast whether the market would embrace great numbers in the first of the year or going to view it as just simply validation of what we already knew i think that w latter the nasdaq 100 up more than 40% for 2017 through january that is kind of what they paid for with this result >> right >> amazon was up it had traction. it did close 4% off the high of the day. i think in the likes of intel and microsoft, than are not willing to extrapolate this out forever saying we came in, and at least relatively -- i stepped back to say, the market's flat this earnings season, about flat

this week, and it's about flat year to date it's trying to hold above the lows and absorb higher rates and other things as earns come through. >> i feel like we need to catch up it's been -- >> i missed you. >> we've been here together, we've had earnings come our way. we still had the 10-year go over 3% >> a lot happened. i will point out a few weeks ago, we had a number of equity strategists on, and they were talking about great earnings were going to be and that's the next leg, and i said earnings are not going to matter, and i can do a small victory - >> they matter >> they matter in the since that if they -- i think that the business model problem opposed pot actual earnings. >> earnings were decent. >> it's a subscribers number opposed to an earnings problem, but in general, michael has said it correctly a lot of the good news is already priced into the stock before we had all the equity strategists come on and say earnings are year over year, up 20%, and it really has not

mattered much. >> the market is up 30%. >> yes i think there is the earnings, sort of expectations build in, but there's also the bond yields problems, raising rates, flatter yield curve. >> that's more significant 3%, 10-year, say to you, finally, here we go, tbt, it's worth it >> no, i think it's much to do about nothing. rates went up for the right reasons. economic growth is strong. wages today were better than - >> nearly 3% >> than they have been they are good reasons, not bad reasons, but couple that with the tariff overhang, and you don't have a compelling reason to buy >> that's the bad reason, part of it though, the wage number is good, but raw materials cost, and you look at the tariffs that they are levying, and they say that's the bad inflation pushing rates up >> today, to me, was a meh opposed to oh, it's a bad thing going on

today was, like, i don't know, you know, you have been here all day, michael, and, to me, just feels liftless is what i say >> john, liftless to you what stands out to you in earnings season? >> kelly, i think he hit it on the head here. it is liftless and 0% annual return in the stock market what you got here is the china trade war, if it happens, it's going to happen on may the 21st, when we find out or june 6th when they impose the deadline, that's a 20% fall in the target people think >> wait, wait, wait a minute you're -- okay, say that again the stock market drops 20% in one day on the day the u.s. actually moves to impose tariffs on china >> it could. only the idea, kelly, would be that it could fall 20% if it happens, so if you are already 10% down, the market's telling you, 50% chance that we're going to a trade war on may 21st that's the problem we face is how to you price a 20% possible

collapse what problems do you put on it right now, 50% that's high, kelly >> 20% seem justified? >> no. the s&p 500, 7% off the high right now. we did go down at one point, 10%; i don't think there's a way to suggest that the economic blow would be such that it would warrant a 20% correction >> but, the blow -- if all the sudden qualcom can't get an xp -- >> showing the fact that i think -- what we've seen here is this kind of build up of tension and anxiety and waiting for uncertainty to clear i made the case citing other stuff in a piece, today, on the site, that it is a little bit like the pre-election period where for three months we turned around the flat line year to date, build up of a little bit of nervousness nobody was sure what the cat lai lists would be they needed the election done. not saying we are poised for a

blastoff after the result of the election, but that type of compressing a lot of - >> it a all clear on the trade front? >> here's the thing -- >> i don't think trade is the make or break issue for the market generally >> i think there's a view, i'm sure, given, you know, larry kudlow very, very well and in the white house, they don't like the idea of a trade war, and i'm sure the chinese - >> who is they >> generally speaking. i think everybody's aware that an all-out trade war is not in anybody's interest the real question is how does the trump administration kind of negotiate its way out of this cul-de-sac they found themselves in, and if they save face and goes home saying we reduced import duty on imported american cars, even though, you know, ford and gm are not producing sedans anymore, so i don't know who that favors in any case, but i think a way out of that plus

clarity in the bond market gives an impetus to the bond market. they find funding needs of the u.s. government are probably going up, and that may put pressure on the bond market. >> that's why it's interesting the dollar is strengthening lately thank you, john, have a great weekend. the big moves from ipos, by the way, under the radar, but kate rogers has the details, kate >> reporter: good afternoon. a pair of tech companies surging in the public debuts today, starting with shares of the enterprise software company jumping 37% after raising $629 million and pricing the ipo higher than the expected range, the ceo dan springer told cnbc's "squawk alley" they see, quote, a huge opportunity to expand internationally, and the other business software focus company in focus is smartsheet up 30%

further support of the continuing market interest in new technology stocks and both companies came to the market with net losses on the balance sheet, but evidence of strong revenue growth and investors are optimistic so far about the two companies. back over to you, kelly. >> i love docusign greatest thing since sliced bread. they just -- very convenient >> i love it >> kate, thank you very much >> thank you >> kate rogers chlg another winner, goodhead insurance. joining us now is the company's ceo, mark jones, congrats, mark, i guess, unless you feel like you left money on the table here >> well, thanks so much, we're pleased to see it trade strong coming out of the gates. what we're about is building long term value and so, you know, today's one-day results are not the end of the world or beginning of the world we are excited to be public and grow the company going forward >> mark, are you looking to disrupt the insurance business >> we really are

if you look at the personalized insurance business, and i think it's important to differentiate personalized and commercial, but commercialized insurance, the competitors in that business have had a really difficult time trying to kind of get their heads around how to meet client needs, and whether it be a single product platform company or a direct single product platform company, those don't meet the needs that consumers have expressed in the age of the internet where we all expect choice, so we have a choice model and a scale where we can provide an outstanding service experience we have been -- we have separated our sales and service function, and that's key in the way we deliver service our service -- yep? >> i was going to say, what do you expect, now you got this capital, and, you know, the market seems to be excited about your prospects, who should be nervous about that what are you going to do with the money?

>> we're going to continue to do what we've done so well, which is focus on having our clients be at the center of our universe we have two distribution channels, a corporate agency, and, by the way, our corporate insurance agents are 3.7 times as productive as industry best practice we have the large franchise network of over 400 franchisees that we're delighted to have and continue to expand in both networks, and provide clients choice and extraordinary service. >> all right mark, thank you for joining us, again, and i'm sure you guys are excited, and so congratulations to you >> yeah, thanks so much. >> mark jones from goodhead insurance, one of the best performers of the day. >> yep, the market is kind of receptive to a lot of these things >> we'll see if more come down the pipe there's a lot more ahead coming down ahead on "closing bell. next up, much more with one of the most successful investors

of our time, jeffrey ubben plus, the energy trade punish. >> a good balance sheet in chevr chevron. >> exxon going energy >> a battle here for the energy companies. >> energy stocks up 10% in a month. is this sector due to break out? the "closing bell" live from the new york stock exchange with kelly evans is back in two kelly evans is back in two minutes. but for cyber criminals it's plenty of time to launch thousands of attacks. luckily security analysts and watson are on his side. spotting threats faster an his data with the most securely encrypted main frame in the world. it's a smart way to eat lunch in peace. sweet, oblivious peace.

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♪ welcome back, and look at shares of sprint and t-mobile on the move after hours on new deal headlines. kate >> we learned that t-mobile is moving towards a merger deal with sprint. sprint was down around 10% t-mobile up fractionally april 10th, they resumed talks, and yesterday, they were nearing a deal, and earlier today, we learned that a deal could be finalized at some point this weekend, and the new news here

from bloomberg that t-mobile is moving towards that merger deal with sprint for $24 million. back to you. >> thank you looks like that's just a lowball number >> a valuation zero premium they put it together and get efficiencies. >> is that fair? do they take that? >> it's up to them >> will he do the deal to say, yeah, we'll take what the market cap is now >> good question fourth try or something like that >> i don't think he wanted john ledger in charge >> interesting ve inin ining vi chart, it's a e model issue. >> generally >> it's a business plmodel problem. >> that's the business they are in therefo therefore, to combine with another one -- >> i understand that, but the idea of there being magical

synergies. >> i don't think it's magical. >> you didn't like at&t and time warner then, they have to do something. >> my view is you're sometimes you, you know, you do a deal is not a solution >> says the deal guy from the mouth of the one who knows. watching those shares. sprint down 11% on the new report i sat down with a notable investor, jeffrey ubben, to talk about spring funds and sustainable investing and other topics here's a listen. >> so much enabling technology that if companies were allowed to invest and deploy the technology, the very companies that are part of the problem that -- because they are stressed in society or stressing the planet, they can become part of the solution. they just need the ability to invest right? and so when you look at aef, three, five years ago, they were a leveraged play to a certain extent, but they got the

technology stores, technology that's been inside the company for ten years because they are in the business of generating lot of power, and they have been doing renewables for a long, long time, and so the idea that they can decarbonize while becoming tomorrow's growth company is exciting. >> so who else do you think is going this right where else do you see exciting opportunities? >> i mean, you know, so the way i view stainability -- stainability is short termism, and so where you go with your -- where you can go to basically be part of a solution is you have to go where the problem is >> uh-huh. >> go into the supply chain. green wash your company all day, but that does not do much in kple cleaning the planet or making customers healthier. supply chain is an infrastructure sort of business. there's a lot of new technology in renewables, recycling, and reuse, and sustainable farming

we're going into all of those. we have now already public work investments in those places. >> for a firm as successful as yours, to hand over the reigns to swomebody else has not happened with success. why is that important for you to set that in action as you are young and continue doing what you're doing >> again, if we ask the companies to do succession well for themselves and compensate on long share shareholder returns, we have to do that to us i've committed to this i thought by doing so, the politics go away, and you can just make good decisions we were forced to invest in frankly all seven investment partners to the point -- and they are all with us today to the point where all eight of these people are on their own boards and now we basically are partner analysts supporting a manager,

mason is the star, and john thompson, chairman of microsoft, but mason is the best director he's ever seen i was lucky, he was my first hire >> you did get lucky >> i did, for sure >> would that have made it more of a challenge if there was not a guy like nathan waiting in the wings who worked with you since day one and obvious inheriter of the throne >> perhaps, and we worked together for 18 years, i have a role as his confidant, but i feel there's another role for me, which is to evolve our governance role in corporate america. >> what have you drawn from the experience >> excited about the management team we definitely, our goal is to leave companies better than where we found them, and we don't -- we stay with the job, and there's a lot of companies where we are on the board for ten years that we could talk

about, and interestingly enough, when you talk about it, the companies compound at a high rate after we sell them. >> do you think you sell too early? >> yeah, maybe interest rates went to 2 and stayed there, and eased it more than i thought, but, you know, that's where we are with valiant, and we're going to be proud of where we are in the next, you know, two, three, four years. >> are there opportunities i know you guys, for example, have citi group. are the financials some place where you could see the kind of returns that you found them in tech going back years ago now? >> i'd rather not get into deep into that. we are talking to them about some new investments, and we are much more financial than we have been because the industry structure changed and they coalesced around franchises. >> you see real growth there >> you see the -- you see price

is everything. you see good franchises that have 15% return sustainable that are way over capitalized and they trade at, you know, book value that -- that is not sustainable. time will tell >> that was jeffrey ubben at valueact speaking of the areas, like financials, where is he hinting at they see opportunities to make, like, 15% returns a year going forward >> some are positioned to do 15% return although they are overcapitalized, so he probably assumes over time they could be less overcapitalized and have more of a hands on management role >> anything -- >> prove it from there >> didn't get a lot of the valiant answer >> what are you going to say >> well, i think investors and managers learn more from the mistakes than from their successes. >> he's among them who say that. >> yeah, and i just thought he

would have had more insignificant into that. i saw that - >> you don't think he has more inci incite, just not comfortable sharing. >> i believe that. >> yeah. he's still in the name rather than bailing like the others did. >> i mean, i don't know. i mean, in the sense that he's probably up from its lows, 50%, but, you know, when you lost that much, does it matter? i don't know >> the approach reminds me when private equity said we can run companies better, we don't have to strip them and flip them. activists with strategy roles where you can improve it it's like a two ways to win idea >> when you have 12 holdings effectively -- >> right >> you know, you have to be a lot more involved, and they take pride in the fact they have been on so many boards. >> i like the fact they put their money where they mouth is, and stick with what the investments are. he walks the walk or talks the talk, and walks the walk, when it comes to long term investing, and all that stuff is terrific, but the valiant says is so

interesting. i wanted to hear more on that. >> we'll see if he talks 30 minutes, but i suspect he'll not be so inclined energy is the worst performing sector today, powering higher over the last month, and we have fast money trade how to play the stocks in that stoafr ecr te this, but first, facebook's big earnings beat forcing analysts to do an about face after to do an about face after downgrading it this year well, i think my friend victor has just the thing for you. check this out, td ameritrade makes it easier to find the investments that might be right for you. like our etf comparison tool it lets you see how etfs measure upother. analyst ratings and past performance... nice. td ameritrade also offers access to coaches and a full education curriculum to help you improve your skills. that is cool. and if you still have any questions you can always chat with us on facebook or call our experienced service team, 24/7.

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welcome back, looking for a monster session on wall street today after the amazon results, well, you didn't get it. nasdaq up a point on the bell, that's it. after a 1% gain yesterday afternoon, and it was extended hours, dow shed 11 points, s&p with a 3 point gain, and russell down a couple. not a lot of major follow through today. let's go over to sue >> hello, everyone, this is what's happening at this hour. three people are dead following a medical helicopter crash in northern wisconsin the chopper was returning to madison when it went down. the pilot and two medical staffers were killed in that crash. no patients were on board. nikolas cruz in court waiving his right to a speedy trial. no trial date set yet. temple university has resended bill cosby's honorary

degree the board accepted the recommendation of the university to resend that degree, awarded to the entertainer more than 20 years ago. and the food poisoning outbreak linked to lettuce spread to three more states. health officials say they now have reported of 98 cases in 22 states, with the addition of mississippi, tennessee, and wisconsin. the outbreak is blamed on e.coli bacteria in romaine lettuce grown in yuma, arizona kelly, back downtown to you. >> all right, have a great weekend, sue >> you too, kelly. >> thank you very much let's get you up to speed on canada where trading closed early on two exchanges kate roger with the latest >> we do have a statement from the group that said, quote, we identified the issue and are working to rectify, due to the timing and nature of the issue, tmx shut down trading on all markets for the remainder of the day and apologize for the inconvenience and expect to

resume trading regular hours monday april 30th, 2018. they are focused on the toronto stock exchange the last trade was at 1:39 p.m. eastern. this statement confirms the time of the outage, and we like to let you know they let the prices to be distributed later this afternoon. back to you for now. >> all right, thank you very much, kate rogers, back at headquarters time for today's take aways. first up, people analyst trying to save face on facebook he downgraded it from a buy back in january, but now he says it's too cheap to ignore. do you agree >> i don't know if it's absolutely too cheap to ignore, but i will say that it is a good call to sell in january and buy back here. d >> that was the highs. >> exactly >> multiples then were 19ish, depending where the numbers go for the rest of the year after

they reported, but it's without a doubt lost its real premium to the growth rate and the rest of it the question is, what, you know, how heavily do they have to spend and the rest i do think it's very reasonable. you know i love the chart of boeing and facebook, and it is more expensive now >> evan? >> hard to be a stock market analyst because -- >> i like that when you are empathi empathizing. >> oh, no, i think it's a -- it's a tough job because most people's careers, you know, i tend to -- you basically have to have people's careers over the longer term, but sad reality is analysts are not paid for longer term performance it's really is - >> it's also a little bit of a humble brag to say, you know, i love it from 35 to 180, and now i got to tell you to buy it back at 160 >> it's true actually, it's not a bad one for you. one of the highest on the street now for shares of amazon comes

from ben with a 2100 price target on the name 12 month price target so he thinks 40% upside, a market cap over a trillion as a result of that, in a year. is that crazy or nothing too crazy? >> aggressive, without a doubt, for any stock to predict it's going to up 40% and become the largest stock in the history of the world. >> no one thought that was amazon a year ago. >> you can't say absolutely not either >> yooe. wh -- yeah. amazon is an evaluation conundrum in itself. it's one of the stocks that you cannot define its valuation on typical normal parameters, and it's kept ongoing up, so there's no point you know, the only guy who probably felt bad for the predicti prediction, and 400 was high >> looked bad for, like, a year, and now looks like a genius.

>> more than a year, but now, yes, amazon is touching 1640 after the earnings yesterday finally, time is money at&t awaits the time warner takeover, the tab for the deal is growing delay costing the company $200 million, and if it closes the deal, at&t needs to issue more bonds that could go at higher interest rates than the original debt they think the tab, if you include the debt, is over a billion dollars. >> yeah. it's a -- i mean, this is a massive debt from the beginning, and you knew it was going to be complicated, obviously, the lawsuit has made it that much more expensive, and it's a reminder that, you know, they need to consume capital still. >> the commentary made it sound like they could prevail. a lot on the government's case >> absolutely. >> i'm going to sound like a broken record. it's, again, one of the deals that 10-20 years from now, people go, why did they do that? the business models of the

businesses are changing so dramatically right now >> in content and distribution >> by the way, we had these exact same discussions in the mid-1990s with the rise of the internet >> we have more news coming out. kate roger is back what's going on? >> we now have updated information on the sprint, t-mobile merger saying t-mobile closing in on a deal to merge with sprint, 6.50 a share, a $26 billion deal, higher than the $24 billion bloomberg reported could be announced as soon as sunday, and not named as negotiations are ongoing and no deal yet signed. this could fall apart still they agreed on exact exchange ratio, but it was not immediately determined soft bank owns 85% of sprint and will also allow deutsche telecom to own two-thirds of t-mobile to consolidate earnings cnbc.com citing this $26 billion

merger deal between sprint and t-mobile could happen this weekend. back to you. >> down 11 %, now down 9% >> that's my point on all the deals -- >> if you are sprint or t-mobile, you don't like the consolidations to have sides, and if you are at&t, you don't like the deal for time warner, what should they do? >> the problem that i have is you look back at all these large deals, and excruciatingly few of them, people look back, oh, what a great deal just doesn't happen that way >> comcast or -- >> i can't comment on that >> sure you can. >> can't or don't want to endanger my position on the set. >> google and youtube. >> google-youtube, you know, my wife works in google, so i have to be careful. i thought it was a great deal. >> that's why i asked. >> it was cheap enough at the time >> all right shares of sprint, we'll keep an eye on down 9%.

exxon crushed after missing estimates, chevron up on the profit beat. how to play the two oil stocks show me the billboard music awards.

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♪ welcome back, through the major stories of the day now in the rapid recap. >> history on the korean peninsula for the first time in more than 60 years, korean leaders pledging to declare a formal end to war and work towards complete denuclearization >> speaking very much with south korea and with north korea, the relationships are building and building strongly, and this will be a great thing for the world >> starbucks is down, company reported smaller profit margins and flat same store sales. >> i was on the ground in philadelphia understanding every aspect of that, and we're going to do the right thing to be a better company because of that amazon, new record high this morning off the huge earnings

beat >> best quarter i've seen of a company. >> love the disney deal. champion of that deal for sure the work here is pretty much regulatory work, so, you know, to a certain extent, i feel like my job is done now >> shedding 12 points, the dow, and s&p with a 3 point gain. the energy xle has been skyrocketing this month, up 10%. oil's at highs we've not seen since 2014 big names stand out in particular in the stock draft. here's a reminder yesterday. >> i'm going to go after the leadership sector of energy and a really good balance sheet in ch chevron. i'm going exxon. energy >> exxon, oh a battle here with kevin o'leary for the energy companies. >> time to buy in? joining us are our "fast money" traders, tim and michael, good to see you both. >> good to be here >> yeah, differentiation here, fun to see them get picked

yesterday, tim, who do you like? >> i'm about mr. wonderful, but when eric dickerson tore it up in the state of texas with a view on oil, i listen to dickerson, but, no, really, think about the change and sentiment for the energy sector, bring into today's earnings and listen to -- even exxon who disappointed what they said about shareholder value and playing this and running the businesses for shareholder value, and look at cap x and margins and, ultimately, the, you know, the capital return, the free cash flow, that's why the energy sector in addition to oil prices is doing better >> michael, is chevron the new exxon? >> well, i like -- first of all, you typically get chevron, a great operator, at a discount to exxon so i prefer it in the integrated space over exxon for that reason, but if you play in energy, stick with services. i like haliburton, a north american play, doing $3.5

billion last year, looking at $5 billion this year, and maybe as high as 7. when you look at isle prices, you know, we are hitting prices not seen since 2014, but they are higher than they are now it's not peak cycle for oil, and they represent a good value at this price >> all right evan, you've been here for a couple years, what do you like, services or big producers? >> your basically betting on higher oil prices. >> just owning an etf? >> i think if you own the efts, you know, i own the vanguard energy fund, i've owned it, you know, bought a lot at the big -- >> still feel comfortable holding it >> generally, if you believe in the global economy and believe the thing in iran is not playing itself out yet, that there's pressure on oil prices, it's not a bad place to be, and i think exxon, i don't know what the yield is right now, exxon gives you 4.5% >> 4.2%, yeah. >> 4.2

>> i just looked at it >> very, very precise. >> that's a warning sign i feel like >> yeah, i understand. >> all right >> i get it. >> guys, thank you, tim, michael, sparking a discussion here they continue on "fast money" at 5:00 p.m. eastern time one workoutcould mean a boost of millions of dollars for nfl hopefuls did you catch the draft last night? a lot of stories there we'll get an ucle okp oslo as we'll get an ucle okp oslo as our reporter checks it out next. with expedia, you could book a flight, hotel, car, and activity all in one place. ♪

nfl draft is still underway. i thought all the action was last night >> did you watch it? >> it was great television last night, but players drafted could be the difference between millions of dollars, depending what position they go in that's why a growing number of nfl hopefuls take part in draft workout programs eric has more. >> that's right. football agents shell out thousands of dollars for nfl hopefuls taking the chance on high end workout programs like if their client is drafted and earns the agent a big return on investment i checked out a program myself the nfl draft is here. one of the big factors teams consider in picking college players is how they fair in their combine or pro day it's a track meet, a lot of running and jumping. it's an important track meet, and training for that day is serious business >> i think i took .3 off the

40-yard dash, pr on the vertical, 3 inches there, coming from getting stronger in the weight room and getting the technique down >> reporter: costly, too, costing $10,000 for a professional program like this fitness program in new jersey. it's just one of many programs providing customized training to athletes hoping to go pro. >> in 2018, if you're not preparing specifically for the pro day or the combine, you're doing yourself a disservice. >> reporter: generally, that's too much money for a college student to afford and through the agents >> for them to train you is an investment, and they pay for it, granted you do well, and hopefully can give them some return on their investment when you make the nfl, and they take a cut of your salary >> reporter: it's all about roi, funding programs hoping the players do well enough to get drafted, sign a professional

contract, and pay back the agent for the outlay >> if i'm working with a guy, i pay for the training, because, again, i'm trying to make them the best they can be and perform the best they can so they are drafted higher or are signed by a team >> reporter: i tried out the program myself >> nice to meet you coach. >> nice to meet you, eric. >> reporter: it was a lot tougher than i thought >> it's tricky >> reporter: that was the warmup we worked on combine specific skills like jumps, short runs, and bench press. surprised there's not water here i survived okay, but i'm probably not getting a call on draft day. >> should i be sweating this much >> can you imagine i mean, what -- what do you think was going to happen? like, you know, we saw this guy who was working out there. >> nobody called me, nobody called me. >> eric, eric, you were very fast off the line.

>> i know this >> you crushed the guy he looked good >> it was interesting you got to think of the agents are venture capitalists, shelling out thousands of dollars for all the players. no revenues. >> i can't imagine that. >> you hope they make money back, and -- >> i had no idea, that was weirdly brilliant, and anyway, eric, thank you very much. >> eric chemi. >> reporter: capitol hill democrats released a letter from the ig, the inspector general of the epa, and the inspect general tells the democrats that he will, in fact, look into some of the allegations against scot pruitt, surrounding housing and travel expenditures, areas that the members on capitol hill have asked the igs to look into, and the ig is now saying that, in fact, they will be looking into it, but no conclusion where that goes eventually, but bad news headline for scott pruitt,

embattled over the last several weeks, and the president signalled support for pruitt because he likes his deregulatory position over at the epa. despite negative ultimately it president who decides and so far he's signalled his support for the epa administrator. >> so far, thank you do you really need a hug, jane wells is here to help. >> scott pruitt may need a hug it may be the perfect business, a professional cuddler i checked it out and ended up in a group tangle with strangers. what does a non-sexy orgy look like how's that for a tease find out when we come back

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well, sometimes we all feel like we could use a hug. if you here in portland, oregon, jane wells knows where you can get one. and it's from a professional in this industry, i guess we're callin calling it jane >> it's en fuego would you be willing to pay $80 an hour to be cuddled and only cuddled? people do and i had to investigate. >> i'm going to have you lift up your arm and i'm going to wrap around you. >> i'm snuggling up to a complete stranger in a pose called "if gummy warm. >> you smell like summer dawn. >> i can't believe i'm not freaking out but i'm in a place where people pay for cuddles, not sex this is purely platonic snuggling. and it's the most portland thing i've ever done this is not as weird as i thought. 34-year-old samantha hess started cuddle up to me in

portland, oregon, five years ago after divorcing someone who was not a big hugger. >> within the first two weeks of leaving a 13-year relationship i had like 25 different people on my facebook page like ask me out on a date. >> reporter: hess just wanted to cuddle, not j sex. th then she saw a guy on facebook selling hugs and it clicked. she figured if she charged for cuddles people would think it was normal so she took $500, got a business license, made a web site, posted flyers and started cuddle up to me. >> within seven days i had 10,000 e-mails. >> how hard has it been for you to convey that this is not about sex? >> it's taken years. the legal boundaries for professional cuddling is you cannot give massage. we cannot offer anything sexually explicit which i didn't want to do anyway. >> what about the unintentional sexual arousal >> arousal happens once in a while. it's really not very common. my goal is to change the world

one hug at a time. >> so her best year so far is $86,000. that's not making her filthy rich but she has enough to hire more cuddlers and she's certifying dozens of people in other states with a strict protocol of dos and don'ts more at cnbcmakeit.com where you see her breaking the ice with me kelly? >> the fact that i have to ask you about goat yoga bails me out from any other reaction because i don't know where to go with this so let's talk they were going to do goat yoga in new york and they pulled the plug but there was a ton of interest and i'm trying to get a gift certificate for my sister. >> i'm telling you -- there it is again out of oregon lainie morris started the original goat yoga you pay $35 an hour. she made $160,000 last year, expects to double it this year i thought it would be stupid i had kind of a good time. they don't smell. >> this one i'm jealous of

jane, thanks very much. >> you don't want to do a gummy worm with me >> you're a fearless explorer. i'll save that to your next visit to new york. inne wells joining us with all thgs cuds. more headlines after the break this endangered species is getting help fromcted friends. these zebra and antelope. they're wearing iot sensors, connected to the ibm cloud. when poachers enter the area, the animals run for it. which alerts rangers, who can track their motions and help stop them before any harm is done. it's a smart way to help increase the rhino population. and turn the poachers into the endangered species. ♪ ♪

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welcome back i sat down with hedge fund manager jeff ubbon today and i asked him for his views on social media take a listen. >> the ad-driven model where you centralize the internet on a single platform, the dopamine you can generate through distributing polarized messages to sell more ads because you stand in line longer is a disaster, frankly. >> so what should the companies do about it? >> they could shut it down. >> and i said you want them to shut themselves down and he said, well -- i said you're not joking are you? he said not really. >> when you say disaster it's not a disaster for the shareholders of facebook there are broader social implications but if i was a shareholder of facebook i would not be happy with that line. >> the academic research that it

legitimately makes people feel worse about themselves so if you can somehow cast it as bad for your health -- i mean, it's a long shot. >> but the momentum is building and nevertheless they didn't show any problems in the results. i'm still amazed the nasdaq didn't do better but we'll have to pick this up monday thank you, gentleman that does it for "closing bell." live from the nasdaq market site overlooking new york city's times square, i'm melissa lee with your traders on the desk. tonight on fast, bitcoin is blooming in april, up 30% this month and the chart master says there is something in the charts that has them pressing the bye button disney on track for another blockbuster weekend with marvel's latest ageneraler haves kn -- avenger movie. we'll tell you how it stands up to "black panther. plus we're starting with the "w