>> could that be an apple play, to throw it out there, to get in with individuals >> if boeing would ever participate, dow would go a lot higher. >> it is today, my friend. >> yes, it is. dow is up shy of 180 we'll keep our eye on march to 29k. "the exchange" starts right now. >> yes, it does, scott thank you. stocks, you might have heard it, record highs and the state of the american economy is good. we'll talk to the head of the chamber of commerce. he once gig workers left alone and is begging for one big type of government spending we'll get to that. plus nfl hall of famer terrell davis is here, his surprising super bowl champion pick and bed bath and bust. no more analyst replies and a $58 million mortgage can you imagine? we'll talk about it. that's ahead in rapid fire

seema mody with more. >> record highs for the s&p dow and nasdaq, up about 176 points for the dow industrials simmering u.s. and iran tensions seem to be the major driver of the stocks today as we were discussing technology and a handful of industrial spots, but it's worth pointing out it's not just in the u.s. check out emerging markets today, india, turkey, china, higher by around 2%, turkey up 4% in this cooldown in middle east tensions. that's certainly been a global story for markets today. beijing also confirming its vice premier will be heading to washington for signing of the phase one trade deal, president trump in the last hour saying today those phase two negotiations will begin thereafter on that note, alibaba and jd.com, names that move on these trade headlines, moving, and both of these stocks higher by 45% over the past one year back to you. >> seema mody, thank you very much so let's move on from the

markets to the state of american business and the american economy. in 2019, seemed so last year, companies were juggling global trade tensions tightest market in decades, all while stocks continue to march on record highs. going into the election, what obstacles and opportunities does american opportunity and businesses face? today chamber of commerce ceo outlining business priorities, chamber is pushing for some sort of infrastructure deal, immigration reform and ways to address climate change joining us now is the u.s. chamber of commerce ceo tom done li d donohue. thanks for joining us. >> pleased to be here and glad to listen to the news that you're telling us about the market. >> well, you know, record highs, puts a lot of money in workers' and even companies' coffers. i want to call you professor,

because if you had to assign a letter grade to the macro u.s. economy right now, what would it be >> i think i with would give them a hopeful b, and think that they might do a little better. >> not spectacular, but not terrible either, tom. >> well, you know, it was only a very, very short time ago that companies were hunkering down, saving their money, looking that there was going to be a recession. by the way, i've been in washington for the 14 recessions that were predicted and only four of them happen. manufacture hg slowed down significantly. there is a fundamental reality

that for every job we want to fill we have half a person these are complicated issues and now we're starting to look at ways that after this election we'll get into a serious immigration bill, you know we've been talking about infrastructure everybody knows we have to do it the money is there there are a lot of ways to get it but all we've done is talked and now there is some movement in the right direction. and here is the fundamental question can we do this in an election year and our answer is simple we don't have a choice we have to do some of these things. >> but tom, you and i have been talking about -- i've been down to d.c. a decade now, talking to you and others about infrastructure we can build an instagram and a facebook but we can't build a bridge in this country how do you believe that this -- >> now wait, wait, wait a minute.

>> okay. >> we can't build a bridge on a national basis the states have been upping their fuel taxes and other ways of accommodating, investing in infrastructure and they're doing a lot of good things, thank god. the federal government has got a good sense of what has to happen, starting with roads and bridges, and in the senate this year -- last year. this year is very new. last year, the senate committee in a bipartisan basis on infrastructure came up with a phenomenal bill to do roads and bridges, half an infrastructure bill but nobody has the courage to find the money. it's been 23, 24 years since we have increased the federal fuel tax. with the car you drove 24, five years ago had much, much lower fuel mileage we've got to do this thing

put a quarter on this deal shut up and let's go build the roads and bridges. >> listen, nobody likes higher taxes, but the reality, to your point, now 12 cents adjusted for inflation and the cost of maintaining our cars is actually higher than we would pay in that gas tax, all the blown tires and hubcaps getting knocked off. >> exactly. >> infrastructure, you're somewhat, it sounds like, optimistic what else does this congress or american business need to do to get that economy from, as you put it, tom, a b to maybe a b plus, a minus? what should be job number one or two after infrastructure >> after infrastructure, we need to find more people. and i know this is very, very hard it's hard for the administration but the fact of the matter is that in many, many places around this country, we just don't have enough people. you know what the most difficult job to fill in america a welder

welder used to be able to do that very easily we just don't have enough workers, and people say, well, we'll train them well, we're training a lot of workers. i think we're doing a very good job in that. the chamber is very active in helping people set that up we actually don't have enough people, and that's exacerbated by the fact that in about 400 communities around this country, people are frozen. they can't move. >> they can't move. >> the last -- yeah, the last manufacturing company or the last distribution place left and they live, they have five years left in their mortgage and junior and his wife and kid live in the basement, and there are enough local jobs to sort of sustain them, but you're not going to get them to move. >> yeah. >> they would love to go back to a good job, but you're not going to get somebody from oklahoma to move to michigan tomorrow. >> no. >> and we need to get some more workers here and that's so fundamental.

there are two things that make economic growth. investment and workers. >> well said tom, we'll get you back on again soon i like that idea we talked a lot about it economic mobility. getting people to where the jobs are. that's for another day and another segment. tom donohue, head of the chamber of commerce. good to have you on. thank you very much. >> thank you very much. now back to the markets, your money and, why not, a little bit of math we've had six trading days so far this year. on three of them we hit all-time highs. by my math that's a 50% success rate in fact, the dow is is closing in on 29,000 if you missed out on some of these gains, don't worry if you dig a little deeper, there may be some buying opportunities out there. get this only 12% of s&p 500 stocks are above their 52-week high so dig anyway little more, go on a shopping spree and get some buying ideas, just for you joining us, barry james portfolio manager, and senior

global market strategist at wells fargo. barry, i was at a goldman sachs conference, the mood was optimistic nobody is talking about big investments. but you're looking to or have already bought into a couple of oil-related names, including pioneer natural resources and mastec tell us why. >> sure. well, the market is a little screwy right now i'm calling it a spaghetti market people are throwing stuff against the wall to see what would wha will work. for a while it was the energy sector, but it's going back to the norm it was so hated last year that the earnings comparisons will be very good this year. pioneer is a permean basis, texas, into colorado and so u.s. based. we don't have problems if geopolitically with it it's very good, one of the most efficient in terms of frac'ing

we think that's a good one the mastec play is multiple areas, yes it does infrastructure things like oil and gas pipelines but also helps utilities out with communications towers and it's big into 5g. it's got a lot of balls up in the air but again it's very good at beating expectations. the earnings are coming on strong we think those are pretty good things you could throw against the wall and they'll probably stick. >> one of the best years last year, samir. if you have to advise your clients, do i put my money in american stocks, european stocks or emerging markets, where would you advise them? >> we rank those, we still think the u.s., especially large cash, would be first we would take another look at european and developed equities. there's some cheapness there and maybe the short-term brexit resolution, even though there's the trade deal cliff coming at the end of the year.

emerging market equities are an area we would still be cautious. i hopped on here they're up about 20% since last fall now the valuations are probably a little bit more fairly valued again and there's probably not a lot of catalyst on the horizon. >> sameer, i want to stick with you on that. if there was catalyst, maybe it's the fed here or central banks globally what do we need to see happen for that next leg for stock market growth to occur >> we would need actual economic growth to pick up, not just in the u.s. but especially europe that's another one of those export oriented markets and a lot of consumers in europe and we would need to see some stimulus out of china. those are both things we don't expect if you were to see those types of things happen, we would get more bullish on markets. >> barry james, let's talk about the economy, vis-a-vis, housing. the markets are up they have some money saved

rates are low. we're going to buy a house, dagnabit you like a little-known stock to help people do that. >> we like the financial sector with low interest rates. that's favorable, obviously, for the housing market but favorable for financial types of stocks. this is a solid play in that area, pretty dominant. we think it has good prospects for the year ahead and we like the valuations that are on it, good relative to the history and the like we've got these in our funds, like the gold and rainbow fund we're putting our money where our mouth is with these picks. >> barry james, sameer samana, thank you very much. >> thank you. we're just getting started on "the exchange." here is what else is ahead coming up, uber makes a bold

move as it tries to fight back against california's new employee laws. and consumers won't be happy. plus, life off the field nfl hall of famer terrell davis joins us live for a look at his new venture, and his very surprising pick for super bowl champs. and bed, bath and a big fall this is "the exchange" on cnbc imagine traveling hassle-free with your golf clubs.

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big changes coming to california uber is retooling its app to comply with the state's new labor law that will reclassify so-called gig employees. it will only give an estimate as opposed to a fixed cost. uber drivers will be able to reject ride requests without any reason roll back the law or trying to kill it all together for more, founder and ceo of tusk ventures as well as deirdre. it basically caps uber commission at 25%. you pay 50 bucks for a ride and the driver will get 75% of that. uber keeps its 25%

what are the folks you're talking to inside and outside of uber saying about this new law >> well, i think what a lot of people are focused on is this is just the beginning some of the changes work in favor of the riders. it's still very early to tell. some of them work in favor of the drivers. this is california right now governor cuomo gave his state of the state address in new york, talking about the gig economy and regulations he wants to put in place brian, don't think you're safe over there in new york these changes could be coming to you as well, as well as far more changes. it's not just uber it's lyft, doordash, grub hub, these gig economy companies that are seeing their landscape be completely upended by regulation. >> you're right, deirdre, california and ax may make their way to other states as well. they found a driver to be the main plaintiffs in the lawsuit against what's called a.b. 5,

the rule in california they call it irrational and unconstitutional what do you think about it >> you know, i think that if you're uber, you're trying everything you possibly can to not comply with the law. that's what they could be doing, running a referendum, trying to get the voters to overturn it. you see some of the changes they just made so they can tactically be in compliance if they have to really what i think uber should have been doing from the beginning is speaking to the voters in california and as deirdre said here in new york, new jersey, illinois, other states that will take this issue up as well and explain what all of this means. i don't think any person inherently really cares whether a driver is a 1099 independent contractor or w-2 full-time employee they just want to know what it means for them and as you pointed out earlier, it has implications. cost of ride also go up, wait time for rides will go up,

drivers will now have the ability to reject a trip you can't be assured that they'll definitely take your ride price estimate as opposed to a fixed guarantee amount had uber said to the people of california from the beginning, this is what it means if this law passes, they would have had a much better shot at shaping the law the right way in the first place. they mismanaged the campaign in california hopefully, they won't do that again in new york. >> deirdre, listen, i'm shocked uber stock is not moving more on this it was known people knew this was coming tochlt bradley's point if, you fly into lax, as i do frequently, it's a 35 to 45-minute wait to find your car in some cases because they move them off to the side if you hit that button and you start to wait, all these taxis go, you're waiting for your uber and 20 minutes in the driver mysteriously cancels the fare or it's more expensive than you think, you might start looking back at these taxis again. it may be very negative for

uber. >> or uber essentially turns into a taxi company and no longer justifies its tech valuation. i'm curious from bradley to know, uber has faced many, many existentials in the past bradley has been there for some of them. is this at the level of some of the others in the early days when travis kelnik was still involved or is this enough to completely upend the business model? >> when taxis were literally trying to stop us from existing in the first place, that was the most existential threat. uber has been on a losing streak when it comes to regulation, london, california, new york or or a lot of other places and these things build upon itself it's not just that the law is harmful to uber but uber no longer seems capable of dealing with this in the first place. >> often the worst ideas don't actually occur, but i would love

to hear from some of the riders in california. feel free to tweet any nasty comment to deerdre bosa. send the nice ones to me and bradley. just kidding thank you very much. bed bath and beyond bad. new ceo calling the quarter disappointing. can he or anyone turn things around at that retailer? he played seven seasons with the denver broncos what he's doing off the field that he's calling a game changer. nfl former running back and, by the way, hall of famer, terrell davis joins us ahead check out our app. we're back in two minutes. way tk where you spend. a new level of privacy and security. daily cash you get back every day. and no fees. not even hidden ones. oh, and if you happen to be somewhere

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♪ ♪ welcome back to "the exchange." here are some of the movers. we'll call this the retail wreck edition. apologies in advance down from a neutral to a buy from bank of america due to disappointing holiday sales and a. amazon's return program failed to produce as much foot traffic as many had hoped. upgrade on macy's.

then there's jcpenney. we normally don't talk about stocks under $500 million. given how many shares they have and where the stock and the name used to be, we felt it's fine. now, let's get a cnbc news update for that, here is sue herera once again. >> good to see you, brian. here is what's happening at this hour, everyone ukrai ukrainian airliner that crashed in iran, killing all 176 people on board was most likely brought down accidentally by iranian air defenses, according to u.s. officials. one said u.s. satellites detected the launch of two missiles shortly before the plane crashed. britain's house of commons giving its final approval to the bill authorizing that country's departure from the european union. this pawaives the way for brexi at the end of the month, which will pass the measure, which will be approved by law once it passes the upper chamber, the house of lords the construction of the u.s./mexico border wall will

move forward after a federal court appeals ruling that frees up construction money. halting a judge's ruling that prevented the government from spending $3.6 billion diverted from the military. and a statue of president trump in his wife's native country was burned to the ground this morning the 26-foot wooden statue was popular with an ever-growing number of tourists, even though it was a tourist attraction, some locals didn't like it you are up-to-date that's the news this hour, brian. back to you. >> thank you very much here is what's coming up on "the exchange". >> announcer: ahead, could we soon be saying good-bye to unlimited twitter replies? apple sets a new record in 2019 and it's not its stock price bed, bath and bust lack n inside look at travis kani'sext big venture. it's all coming up on "the exchange."

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>> a kindler gentler twitter, maybe. mega mansion mortgage, doctors versus pharmaciys over opiods in

ohio welcome all. first topic, shares of bed, bath and beyond are being deeply discounted today, withdrew wall street guidance. stock is down 19%, making this its third worst day ever remember this. if you back up that chart five, six years to january 2014, bed, bath and beyond was an $80 per share stock. seema mody, it has been brutal for this retailer and its investors. >> it speaks to this growing divide among the winners and losers in the retail space the bar was already lowered ahead of its earnings report yet they still couldn't deliver. add to that disappointing earn i ings report. they withdrew their 2020 guidance transparency into the future much harder for the financial community. >> i'm a suburban mom now. bed, bath and beyond is one of the stores i hit up in the strip mall on the way home if i can go to a store like

target that has everything bed bath and beyond has and more, i go to target plus there's easy returns, it makes it hard for bed bath and beyond. >> it's an easy store to e-commerce and buy those things online it has a new ceo they're shaking things up. >> the stock has done well the last four months until today. >> yeah. >> it almost doubled it was heavily shorted, obviously. >> yeah. >> the stock had a good run on the new ceo. >> this could be a kitchen sink type thing. >> pun intended? >> cleaning house, a lot of senior executives are bringing in a new team. it's still early. >> pier one has been closing store stores. >> that really upsets me as a suburban mom. >> on a serious note, for all -- by the way, new suburban mom, what you don't want are half full strip mall. >> that's true. >> they're ugly, decrease sales, reduce property values we don't want to have a bunch of

holes in the suburbs. >> and they should merge with bath and body works, which is doing well, which would be bed bath and bath. yeah. >> what your ticker be bbbbb? next up, a nicer twitter please they plan to test out a feature that allows users to control who replies to their tweets, in an effort to combat online abuse. meg tirrell, you are most america's most well-loved and well-liked sort of pharmacy and biotech reporter. >> i don't think i'm the only one on television but i'll take it. >> women face a lot more crap, for lack of a better term, than guys do. i imagine you're in favor of this feature. >> actually, i'm not. >> no? >> when they're talking about the health of public conversation, i think there are two ways to read into that the health meaning, yes, let's get rid of people who are trolling and can be even more

damaging some of these things are disgust i ing. and i mute or block those people but the health of public discourse means that people should be able to engage even if the person posting doesn't agree with that. let's think about if president trump only allowed his followers to engage with his tweets. that means the only things he sees are people who already agree with him. >> whenever you muddle into this free speech debate i kind of agree with you but i also worry, robert, there's a lot of bots out there. you look at replies on certain things it's the same language those are not people those are computers or people with 100 accounts. >> yeah. >> blasting you to sort of either change the dialogue or to create some kind of a trend, which i should never exist in the first place. >> there's a spectrum here there's what they call the global setting, where you can have anyone reply and then there's the statement setting, which is that no one can reply there are gradations in between i think that's useful. there are levels of engagement but i do think, to meg's point,

there is a group think problem with social media and all media. people want to read what reinforces their own ideas if we only accept comments about what we do, what we say from people who are like us or who we like, to see what they comment, it makes it worse. >> it does seem like twitter is being a bit more proactive trying to address whether it be political comments, harassment if we don't agree with the steps they're taking, at least they're being proactive. >> if you don't like twitter, don't be on it, right? just bail out. all right. is there a trade war impact on apple? apparently not apple's stock up again today another record new chinese government data shows an 18% spike in iphone unit sales last month. this, as the company announced the record year for its services business $386 million on new year's day and 1.5 billion robert frank between christmas eve and new year's eva loan.

if that pace would be kept up, that would be 70 to $75 billion in sales at that rate. >> yeah. >> in a year in the app store for apple. >> the news function of apple right now, 100 million users of apple news podcast, 800,000 podcasts. >> oversaturation definition. >> 800,000 >> 800,000, yeah. >> i only listen to meg's. >> you have a podcast? >> i used to. >> okay. >> i keep playing the same one over and over. >> look, this speaks to the power of that ecosystem and the power of what they say is the real future of apple, with which is not the iphone, not hardware. >> china is supposed to be the big wish apple. >> mad at apple, down with trump. >> this is the report. let's see what we get from the real earnings report when it comes out later this month i think this does speak to tim

cook's strategy in china potentially paying off, pricing the iphone effectively in a country like china where the customer seems to be price conscious, and they have other options, like local competitors like huawei. maybe that strategy is working. >> we've all been there, near there. it's a status symbol it means you have money. >> these western brands, even nike and starbucs. >> phone in one hand, and venti, grande milwaukee yacchiato thin other one. >> suing doctors in northeast ohio, claiming they, the doctors, who subscribe the pills, are really the ones to blame for the opioid crisis not the pharmaciys these are the same drugstore chains set to go to trial. this is finger pointing on a whole new level. >> this is defense strategy,

right?ypharmacies, the ones lef over, when this was supposed to go to trial naming several distributors and pharmacy in saying they caused the opioid crisis we saw a $216 million settlement excluding the pharmacy and now more have been named they are left in this suit essentially what they're saying is, you're saying we should have flagged these orders coming through. who wrote those orders it was the doctors it's really a defense strategy, saying if we're culpable, they're even more culpable the issue is, they don't know who the doctors were that's the crux of this. it's difficult for the plaintiffs to say this prescription hurt someone or killed someone and therefore this person or company is culpable that is kind of the crux of the defense here. >> i'm going to say something nobody likes to hear but it's true. i've read a number of books, such as "american pain. we think of doctors who like to

help us, and by and large there are. doctors end up there, they're drug addicts themselves, multiple divorce, hugely in debt, and they are paid by the pill they're doctors in name only and they're just feeding it out. you think there's anything to this at all, seema >> meg, i'll pose this question back to you. at some point do the incentives change for these doctors, which could change the type of drugs that they prescribe patients >> absolutely and there's probably multiple buckets that are happening here, people operating in so-called pill mills and legitimate doctors still they have been criticized for over-prescribing opioids and that's been getting curbed and stopping and there's a crackdown on pill mills. >> there's a story about a florida in pill mill where the doctors were paid by the amount of prescriptions they wrote. they would write 5,000, 6,000 a day and there was a line moving

that would get shut down mortgage worthy of what was once the. still it now carries a $58 million ten-year mortgage. the owner's identity is hidden behind an llc. we don't know whoever it is. whoever it is is going to be making monthly payments of about $560,000 to pay off that ten-year, $58 million mortgage robert, you have been to this house. >> yeah. >> what do you make of the sale price? >> prior to this mortgage, the most expensive mortgage we knew about in america was jay-z and beyonce, four houses over, they had a $52 million mortgage if you can afford a $94 million house, why do you need a mortgage the reason is you can take out a 3% mortgage, put that back in the stock market, private

equity, earn 6% or 7% and financially you made a good decision. >> so you have no interest rate. >> that's right. with mortgage rates where they are, with the federal reserve helping you out, it now makes sense to get a $58 million mortgage. >> if you're going to take out a $58 million mortgage -- i hope to be in some position to do so, but time is running out. there's no way they're paying 3.5 -- they're probably paying 1 or 2% f you're a bank and you're jay-z, here's 1%. >> that bank is getting all your other business you're trading, they're helping to manage your wealth, write your trust, pay your taxes so, yeah, that's going to be the lead-in offering where they make a lot of money yeah, probably only one or two percent. hsbc, by the way, has the mortgage on this. >> one detail i love about this story is that the owner, this was listed as their second home. >> yeah. >> so here is my -- we've got to

go we've seen the house imagine how much bed bath and beyond, fill this house up -- we would have to go there 100 times in our minivans. >> i have a minivan. >> the owner of this house is not shopping at bed bath and beyond let's be real. >> the whole company. >> exactly. >> good discussion there thank you very much. rapid fire, over football hall of famer terrell davis, cbd-infused sports drink is now in sprouts supermarkets he is here in studio to discuss that success his pick for super bowl liv and what the heck is going to happen with the san diego chargers? >> i am back. >> mr. san diego, we'll be back after this short break stick around legendary terrain in telluride,

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two super bowl championships and a spot in the football hall of fame with the hated denver broncos. kidding. now playing another big-time game, winning in a crowded sports drink market, with big name on the defy brand co-founder of defy which terrell, welcome, by the way. >> you said hated denver bron broncos. what's up with that? >> you don't know. you were a charger i'm a chargers fan i had to say it. >> chargers were my team. >> i know. >> when the broncos drafted me i had to change aleenlance. >> to orange and blue. >> now i bleed orange and blue. >> let talk about that you were on this show back in august. >> yep. >> now you're in sprouts markets, organics. >> right. >> what does cbd do for you? you got crushed in your career, football players, sore all the time does it help, make you feel less pain >> absolutely. that's why we went on a journey

trying to find -- actually build defy i was searching for something to get through the pain, through the inflammation in the knees in my joints. i told the story last time it really changed my life i noticed, listen, everything was feeling better i had gotten back to a point where i was working out five times a week, recovering faster. it was revolutionary it changed my life i'm like, wow! the reason we decided to go on the journey, number one, i knew there was a need out there nobody was in the performance lane with cbd. that was the first thing secondly, we realized that the cbd out there, there wasn't a whole lot of cbd companies at that time, two years ago, that you could put your name on or had quality cbd. it's unregulated. >> for our viewers, who still may be confused, this is not getting you high. >> it doesn't. that was the most important thing we had to make sure. >> can i try it?

>> go for it. >> you're not going to get high. >> you won't get high. >> does it change the taste? >> you taste it. you tell me. >> i didn't try the old one. >> orange is an award-winning flavor right there. >> it's good. >> really good and so what happens, we went through about a year and a half of trying to go through all the flavors and the formulations it's hard to try to make cbd it's an oil. the taste is bitter. we had to try to perfect that. we did that. >> little expensive. >> cbd, unfortunately, it's pretty high. over the next several months and years we're hoping the prices go down a little bit. >> how is it doing >> it's doing well we're doing really, really well, in talks with major retailers. you can go into our website right now and order it. >> doesn't make you sluggish these are probably stupid questions. anything with cbd, you think of

that slow, stoner mentality. it won't slow you down at all? >> it will not matter of fact, it will do the opposite. >> i drank the bronco orange, by the way. i grew up a chargers fan. >> me too. >> part of my childhood in san diego. you played for them. what's going to happen to that franchise, man >> i'm hoping -- here is what i'm hoping. >> it doesn't appear that it will work out. >> unfortunately for the chargers and the fan base, people are not attending their games. >> no. you're wrong do you know who is attending the other team's fans. they're boo'ing the chargers when they score at home. >> it's unfortunate. growing up, don coreal, john faust. >> joyner. we can go on. >> it hurts my heart to see chargers leave san diego it would be nice i don't know if it's going to happen charger fans right now, do not like the chargers, or at least from san diego i hope they return to san diego. >> i think a lot of people do.

i don't know if that will happen quickly. who will win the super bowl? >> i wish i knew that. here are my picks. i made my picks. i have the vikings. >> vikings >> taking on the kansas city chiefs i'm bucking the trend this year i picked these two teams before the season started i jumped off the vikings band wagon but i'm jumping back on. >> you think the vikings will beat the chiefs? >> in super bowl liv. >> cousins can get it done >> he passed the biggest test in new orleans, the hardest place to play in in the postseason he two outstanding passes. i'm back on the minnesota band wagon. >> you and i could do a sports show. >> let's do it. >> i don't anything about sports but i can talk terrell davis, with defy, cbd-infused. i feel better already, man. >> see there you go testimony! >> thank you very much, terrell. pleasure to meet you. >> thanks. >> travis kalenick moving on

toitenhe ride sharing, getting in kch sharing will he uber the restaurant industry that story, next i got it. alexa. start the coffee. set the temperature to 72. start roomba. we got this... don't look. what? don't look. lets move. ♪ mom. the lexus es, eagerly prepared for the unexpected. lease the 2020 es 350 for $389 a month for 36 months. experience amazing at your lexus dealer. our retirement plan with voya gives us confidence. we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. i'm good at my condo well planned, well invested, well protected. voya. be confident to and through retirement.

more and more people opt for delivery of food instead of

dining in. some restaurants are pivoting towards what's called a ghost kitchen. travis is looking to cash in b on that. kate rooney is in san francisco with more on this story. how does it work >> hey, brian. so when you order food on an app, it may be coming from a warehouse rath eer than a kitchen. recently raised 400 million from saudi arabia and is potentially competing with uber, but it's not just uber eats you have grub hub and door dash. i spoke to one franchise owner yesterday who said not paying for front of house vastly improves the economics and these kitchens are costly. he estimates up to $5 million per location start ups already have high costs for their delivery businesses and analysts worry b

about the profitability they compete for market share you have consol dag. reports yesterday of grub hub looking to sell. brian. >> what about the economics? does it work in some instances, a pure play clad kitchen he did some analysis on a company called kitchens united, which is similar to travis' business model they say they had 20% margins and would be able to pay back that cost between three and five years, in that case, good margins. it's different from the delivery guys you take jor dash for example, they have their entire delivery business which they're spending a ton of marketing and trying to get what ride companies did. lyft and uber in san francisco, they're all trying to put their flag down. so these are two different types. the pure play and food delivery. so it depends. really interesting business model. >> thank you very much

let's stick with news out of silicon valley christina farr reporting that tesla's former cfo is joining alphabet's health group. deepak did two separate stints at tesla telling cnbc he believes that health care is in a state of crisis and had a company verily has the possibility to redefine e health care's approach the it has more than a dozen efforts underway in partnership with novartis and pfizer and others for more, you can read christina's story on cnbc.com. nearly doubling over the past three months but falling today on new news, is it possible the stock has run up too far too fast that is next when you look at the world, what do you see? we see patterns. relationships. when you use location technology, you can see where things happen, before they happen.

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the seemingly unstoppable tesla stock chugging its way colin, i don't know how you value this company anymore is it a tech company, a car company because if it was a car company, trading at more than a million dollars for every car sold >> you have to look out into the future 2024, '25.

in the disruption they're bringing into the market i think the watershed moment is this china facility. green field car production in less than a year is astounding so tesla being able to execute on that is something that is terrifying to other car manufacturers, but severely disrupt iing the market >> i hear that, but what point does the stock just get way overraove overvalued >> it's going to go higher and lower and it's digesting today and we're going to get more numbers on cash flow when they report in early february i think that's going to be the real metric for us to watch. how much operating leverage are they getting off these volks as they grow 30 to 50% a quleye how much cash are they generating we think the multiple will hold up here over the next couple of years and still have a bullish buy. >> and you have been bullish and you have been right but your

stock price at 385 is 100 bucks less than the stock price is right now so you have to reup your stock price or change your rating absolutely we're doing additional diligence here in terms of where technology positions are across the industry how u that looks relative to tesla both on the operating system as well as the power train technology absolutely it's a challenge for us and when a stock moves 50% in three month, or 100% in three month, we have to respond to that and so we want to make sure we're on solid ground >> do they have enough supply of lithium to build e these batteries? lithium isn't a material in short supply, but we think it's in the right configuration, they've got their contracts in good shape but that's an area we're watching closely to see if inventories come down. we're still bullish on alb and that lithium opportunity has been b pushed to the side, but it's interesting in 2020 >> i think one of the most common elements in the world

tends to be found in weird out of the way places. colin thank you very much the dow is up 182 points more new record highs. the market despite dprgeo polita concerns ch we'll see you tomorrow "power lunch" starts now >> thanks very much. welcome, here's what's new at 2:00 on "power lunch" for a thursday stocks at record highs and we are on the doorstep of dow 29,000 but with earnings just around the corner, can the bulls stay in charge plus, big retail names getting hit hard today we'll tell you what went wrong or not right and just how bad things could get for the group and for individual names and later, starbucks is heating up the stock higher as one analyst says it is heading back to all time highs and beyond he will be here to make his case as "power lunch" starts now.