from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. good afternoon, everyone welcome to "power lunch. stocks are at record highs the s&p 500 is now up nearly 70% from its march lows. is this market now showing science of froth speaking of froth, how about tesla out with a $5 billion stock offering to take advantage of its soaring shares. that its third move to raise capital this year. and another soaring electric vehicle play is blink charging

that stock up 2,000% the ceo will join us on what is driving those gains. plus as the country battles the resurgence of the pandemic, businesses are battling lockdown measures we will hear from tilman fertitta about how he weathering the storm around what he might have to say to us about houston and the rockets. "power lunch" starts right now welcome to "power lunch. i'm kelly evans. we begin with news on the covid-19 vaccine, already rolling out in the u.k. and the u.s. could approve it this way mig tirrell has the latest. >> a key milestone in the process today to potentially clear this vaccine we got the briefing docks from the fda showing us how the regulator is looking at all the

data they say all of the data suggest a favorable safety profile with this vaccine with no specific concerned identified that would preclude issuance of an emergency use authorization. they did see things like injection site reactions, fatigue, headache, muscle pain, chills, joint pain and fever after especially the second shot so folks should know they might not feel well after getting the shot but those are seen often in vaccines they noted four cases of bells palsy in the vaccine group and zero in the placebo. it's temporary weakness or paralysis. the fda said that should be under surveillance as these are rolled out on efficacy, we know it's 95 effective in preventing cases of covid-19 after two doses this graphic shows after one dose you start to get protection from the vaccine at day 14, two weeks after you get your shot. the orange line there is the

rate of covid-19 for people on the placebo and the blue is for those on vaccine so that's pretty remarkable. so thursday the outside advisers to the fda will meet on the vaccine and vote on whether the data support its clearance and the fda could decide anyway time oofr that. an advisory group to the cdc is scheduled to meet and then next year we start this all over for moderna's vaccine. its meeting is on thursday, december 17th. this all amid the happy news in the u.k. this morning of the first participant getting her shot this is margaret keenan, she's 90 years old, she's a grandma. and she was the first person to get it she got it this morning at 6:30, local time in the u.k. guys, back over to you >> meg, as we speak, the president is holding an event at the white house.

this involves the vaccine and operation warp speed what do we expect? >> this it really being build as an vent -- event to educate folks once it starts to go out we are going to hear from fda's chief reviewer dr. peter marks he is scheduled to speak there today. for that reason we are not going to hear from the ceos of pfizer and moderna. they were invited and it was reported yesterday decided not to go. there was some awkwardness for companies that have applications in front of the fda attending the same meeting with the guy who is reviewing those applications for the fda so they will not be there. we also expecting the president to sign an executive order at this conference trying to prioritize vaccine doses for americans. as we discussed last hour, unclear what teeth that e.o.

will actually have >> all right, meg. thank you for now. we appreciate it tyler. >> the s&p 500 and nasdaq hitting record highs the dow just shy of its record some are saying the market has come too far too fast. mr. p, take it away. >> there are several signs of frothiness we're at a new high but it's a little bit of trendless new high and a little bit of resistance starting to creep into the markets. you don't know what to do, buy thematic tech. investors love thematic tech ets. i'm talking about online retail, solar etfs, anything related to cyber security, anything related to social media. they buy and sell these things just like crazy. it a whole enough way to invest in the markets that's still going well. i still say frothiness is there right now. let's look at what's moving the

market it's the vaccine rollout that really matters the amount that pfizer vaccine has is limited we still don't know what's going to happen on brexit. this are trends that are still in tact. the work from home, sell work from home but not completely kroger, home depot, best buy home depot is down 6% in a few days that's a lot to move down. the other alternative play is to buy high beta reopening names. what's a high beta reopening name it's oil companies like occidental or hal buliburton those are the things that have been working the problem is high beta goes up really fast and you want broader participation in the market. i think the debate is whether once we get the stimulus, is

that a sell on the news event, assume being we get a $1 trillion, $900 billion, is that a sell on the news debate or not? that's kind of, tyler, what the market participants are debating right now. >> thank you very much, bob pisani stimulus and virus concerns up ahead. earlier on "squawk box," optimism was expressed for the economy this year but said it could be as good as it gets for stocks >> next year is going to be a great year for earnings and i think it's going to be a better year for the economy than it is for asset prices i guess kind of put simply, a lot of the gains from a rekocovy are already priced into stocks from here i think it gets a little bit difficult >> let's put that question to

russ costrich. five-star rated by morning farm. what do you make of what savita said there, basically good your for the economy, for earnings but a lot of it is already priced in? >> i've got a lot of respect with savita. i agree very strongly with the first two parts of that. i think it will be a good year for the economy, a good year for earnings where i would disagree a bit is the last part about stocks and risky assets i think they will also have a reasonably food yegood year. if we think earnings are going to go up, the only way stocks are not going to go up is if you see some type of multiple compression. the question i would ask is in an environment in which we're very confident the policy rate from the fed would be pegged at zero, we're very confident we're going to continue to see asset purchases on a massive scale it's not obvious why market multiples would decline. if earnings are going to be

strong, the economy is going to be strong and multiples can be stable, well, then stocks should go higher. >> so what kind of year does that imply does that imply -- we did a segment yesterday on various predictions on the street on where the s&p 500 would end the year i think 4,500 was the high and jpmorgan the low i think -- maybe i didn't not say the name, the low was about 3,5 3,500. i don't want to put somebody under the gun there. is it a double-digit year for the -- >> we don't put a number on it one of the key things will be where do you invest in the market there is this debate going on, do you bottom fish in deep value, stick with the secular growers? there is an alternative. there is a middle part of the distribution, which is neither the deep value names that are

very tied to recovery, it's the not the secular growth, but it is what we would call the forgotten middle, names that are neither pure growth, chemicals, industrials, rails that are still levered to the recovery but have very solid business models or high quality these are the types of places we think you can make the most hay in 2021. >> i see you favor what you call call quality rails, defense, home builders, payment companies, semi-conductors in certain instances. what about gold? what are you doing with that >> gold is really interesting. we still have some gold in the portfolio. weep have less than we did six months ago it's a tough call because on one hand we're in an environment that favors gold we have negative real rates. we have a weakening dollar those are typically factors that help give a tail wind to gold. the problem right now is one of

the main reasons you hold gold, you hold it as a risk mitigateomitigateoigator and it hasn't been doing its job since the summer it's trading like a growth stock. it doesn't mean gold can't go higher, we actually this it will but to the extent you own gold in your portfolio, you probably owe less than you did a year ago. >> let's go to bitcoin is there anyplace for it in your pore f portfolio in your world? >> it's not exactly what you're asking but i do think that bitcoin and gold are separate investments. there's been a lot of talk lately about whether or not gold is going down because bitcoin is going up and are people selling gold to buy bitcoin coin in we can't find a lot of evidence of

that you look at the last couple of the years, gold and bitcoin tend to move together bitcoin will be interesting as it continues to ef involvolve a asset class. >> it's not part of your portfolio now? >> no, wh rk, we do not own bic. >> kelly >> coming up, tesla turning higher after announcing its third capital raise of the year after the stock hit a record hive yesterday and it's up more than 45% in just the past month. it's up nearly 1% right now. plus blink charging, they are riding the electric wave the stock up more than a thousand% this year. the ceo joins us right after this quick break

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welcome back shares of tesla turning positive today. and saying they'll sell $5 billion worth of stock, just amazing. take advantage of the huge stock gain this year, up almost 700% and others have also seen huge gains. blink charging, an electric vehicle charging manufacturer. they've seen their stock skyrocket nearly 1,400% this year already exceeding numbers of all of 2019. shapes are um 20% today, almost

up $30 joining us is blink charging ceo mike michael farg ias do you believe your price is too, high? >> no. >> what are you going to do to make sure this technology is deployable and usable and you can translate your high currency in the equity price into a sustainable business model >> we've been doing this for 12 years and we understand what it takes to deploy charging, with an only fully integrated ev company, we design, manufacture, over and operate our charging stations it's very important to use

state-of-the-art technology and the last thing you want to do is invest and then something more powerful or faster is released we developed the fastest possible a.c. charging station that's really the kind of hardware you'll deploy in multi-family residential facilities, mixed use areas. that's what we've been focusing on >> i'm sure you saw andrew citron's short call, he said the valuation makes no sense, the company is a total scheme, he said you spend no money on research and development, have no real revenues and other things what's your response to that >> there's always been nay sayers in any new business it's part and parcel of success. we completely disagree with the assessment the bottom line is if you look at the ought mottive market historically, it's the companies that produce vehicles that are most susceptible to bankruptcy

99.5% of all vehicle companies miss torically have gone bankrupt the companies that really take advantage and are the most profitable off transportation are those that supply fuel to the transportation system. if you look at the markets, this is the stock markets, we look at them, the most valuable companies world wide for the last hundred years or so have been those that supply fuel to the transportation systems of the local areas. that's what we do at blink we're not taking the risk of investing in a possible vehicle that may or may not be successful we're the ones who fuel all vehicles, every time of vehicles, whether it's a tesla, a cadillac, an audi, bmw what we do is partner with property owners, we provide charging infrastructure in those locations that's most convenient for the drivers. and most likely that's where they're going to charge their cars and ultimately it takes time we're investing in infrastructure today the industry is at its infancy. as more and more cars are on the road, more and more will need

our services >> sure. so that said, if you're a 12-year-old company, like you said, your product sales in the third quarter while up 74% were still about $600,000; is that right? how quickly are we talking about for a company that has almost a billion dollar valuation getting the actual revenue to something much more substantial? >> i think you're confusing the type of miss that we are we buy hardware and actually manufacture hardware and pay for it and deploy it in locations. we own and operate charging stations more so honey selling it we invest in today and putting it in the ground where they require charging stations but we're waiting for the vehicles to hilt the road to kick in our revenue stream our business is to supply fuel to evs not necessarily selling hardware what we're doing is investing in

the fueling stations of the future we own and operate these charging stations under long-term exclusive contracts. some of them as long as 21 years in length. we we are the only exclusive provider of ev locations as more and more cars are on the road that require ev fueling, that's where we'll make our revenue. >> your total revenue in the third quarter was $ 00,000 50% of it was from the fuel itself so to speak again, these are tiny numbers. if you're talking about two-decade-long contracts, are those contracts made at prices that are going to escalate significantly from here or is it just you expect the volumes, the takeup, to increase so much so that that turns into. >> the numbers today -- where it's single-digit sales as a --

low single digits. we can't fuel cars that don't require electricity. as more and more evs are on the road, they're going to be in need of our services you have to understand the market today there are less than a million charging stations that have been deployed of those there's maybe about 00,000 that are tribal we're right about 300 and change thousand our business model is to o pd we also sell our hardware to they're parties. so we will show and as more and more operators require ev. we're one of the largest players in the space it's at its infancy and we've been doing this for a long time,

but our goal has been about footprint and growing our footprint. it takes time to do that it's not just about revenues today. it's a matter of going ahead and capturing those properties the metrics that most people use today is how many charging stations do you have in the ground that's not the question. you need to ask us how many parking spaces do we control you may see one of our charging stations in the ground at a parking lot that may have 500, a thousand, 15,000 parking spaces. >> fair enough >> the difference is we own those locations outside the just the spot where our charging station is we have the exclusive right to provide exclusively those services in those location, which is very, very different than any of our competitors. >> understood. michael, thank you very much for coming on today and explaining the whole business model we appreciate it michael farkas of blink. over to you, ty. >> i'm thinking of bob dylan,

"the times, they are a'changing." still ahead, shares of palantir, does it have more room to run? and tilman fertitta will be here to discuss lockdowns and the houston rockets trades tt haare shaking up the nba more "power lunch" after this. s. s. so, today they're going hybrid with ibm. a hybrid cloud approach lets them use watson ai to modernize without rebuilding, and bring all their partners and customers together in one place. that's why businesses from retail to banking are going with a smarter hybrid cloud using the tools, platform and expertise of ibm. - we did it!c)

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lunch. we're watching palantir volatile today after yesterday the company clinched a $44 million contract with the food and drug administration they're holding the gains. shares are still up more than 200% it's good to see you both. mark, is palantir a buy, sell or hold for you >> i would probably say a hold here so i actually own this one it's been a great trade for me it's probably time for me to start taking some profits.

look, there's no doubt these guys have a great niche, surveillance, defense, cyber security that is modern warfare as we know it. but i question how much they can really expand outside of their government customers, like what is their tam outside of the government and i'm guessing at this point it's probably not that big so a $44 million contract from the fda is great, maybe they can expand their service line up a limb bit, but th little bit, but they are a $47 billion company and not quite the needle mover you'd think when you put it in perspective they don't have a cloud-based subscription model and that is not the best recipe for success right now. i bought this on the pullback when george soros talked about house of representatives how he didn't approve of their business practices it gave me a good entry point. >> mark thinks having the

government as your customer isn't enough tell us what you would do with the stocks from here what are your thoughts on palantir [ no audio ] >> he looks good but we can't hear him for more "trading nation" head over to cnbc.com >> i was ready to just jump in and play the role of todd gordon if it needed to be bu but i guess not. >> ahead on "power lunch," more states are closing down restaurants and tilman fertitta will join us live next to discuss. we'll be with him in a second.

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let's give you a quick market check they're at the highs of the session. industrials up, s&p up 4% and nasdaq up a half%. look at the russell still running away with the game today. up more than 1.3%. majority leader mcconnell says he does favor passing a basic coronavirus aid package, but without a provision on liability of companies and employers, which republicans want or local aid to state and local government, which the democrats are pushing for. there's a sign there's movement on those stimulus talks but we shall see. and shares of stitch fix with

surprise profit and better-than-expected sales what can the traditional apparel industry learn from stitch fix go to cnbc.com/pro let's go to another pro, sue within the last hours, the johns hopkins count of confirmed cases ticked above 15 million and that number is accelerating amid colder weather and holiday gatherings it is important to note that those are just confirmed cases the actual number of people infected could be as a rough estimate six times that number and within the last 30 minutes what's being called a covid vaccine summit got under way at the white house to draw attention to progress being made on that front as the fda gets closer to approving vaccines but one medical professional tells msnbc it's not going to be

a quick fix. >> it takes time for that immunity to build up my concern is people will get the vaccination, take off the mask and think it going to be a fabulous life from now on. it not li it's not like that it's going to take months. >> reporter: and in switzerland, tough new anti-covid measures i place. >> and davos in singapore next year >> that's when they're saying. switzerland feels as though this is a singular sport and it's outdoors and they will be able to keep the coronavirus in check. we will see. >> you would hope. sue, appreciate it a bar on staten island in new york has made national headlines for its refusal to

close down during the pandemic there have been nightly protests supporting the bar's stance. many businesses across the country. in california, they're suing over the shutdown. let's go to jane wells to pick up that story. jane >> reporter: hi, kelly this is the third time in california many businesses have had to shut down and more of them are openly refusing to close down, risks fines and their licenses rosie owns two hair salons she has spent about $5,000 on health and safety measures she wants evidence that salons like hers are riskier than other businesses allowed to stay open. >> if the governor and county hae health departments are going by science and data, then by all means be transparent and show us the science and data >> the california restaurant association is separately suing los angeles county, which has now banned even outdoor dining

without so far offering evidence that eating outdoors is spreading covid, at least compared to other businesses allowed to stay open a judge told the county to provide proof this afternoon but the restaurant association has to show the county is being arbitrary and ka peescapricious >> unless this judge finds it's arbitrary and capricious, he cannot vacate it we have a high, high burden. we believe the burden has been met because they have not done the studies. >> reporter: we will be at that hearing this afternoon, tyler. one big question is will this be enforced two southern california sheriffs departments are saying they're not going to enforce it. >> jane wells, thank you >> it's not just california where these strictures are being put in place andrew cuomo warning of similar lockdowns if cases and

hospitalizations continue to climb in new york, a move that would be a massive blow to already struggling restaurants across the city and the state. here to discuss is landry's chairman and krp -- ceo and rockets owner tilman fertitta. in that previous piece there, the beauty salon owner said if we're relying truly on science and data, show us the science and dwrat on whiata on which yog your decisions is that something you agree with that you haven't seen the science and data that stand behind the proposed lockdowns on both indoor and outdoor dining >> totally agree with her. i have so much respect that all these people are standing up it's kind of like in california we were given a 24-hour notice on saturday that, you know, you got to shut down and i'm sorry you have all this food ordered

and all these hourly employees you're going to have to let get let 20% of retail can be open. when you take a huge restaurant and you're only allowed to have 25% anyway and i'm not even talking about outside, but even 25% inside where we're able to keep distances of 12 to 15 feet apart, how is that an issue? and all these people in california went out and spent all this money on tents and heaters and walls to make it and carpet to put out in the parking lot and what's the difference in sitting out in the parking lot or walking on the beach or going for a jog. you know, i've said this and finally i hear other people saying it, everybody that's making the decision to shut down is still getting their paycheck every week and it's really a shame because they don't understand what they're doing to these people and there's not a stimulus and even if there was, it takes weeks and months because it's so back logged that everybody that makes this decision gets their

paycheck and they're cruel for what they're doing to the american public right now >> and i think you would say at the end of that sentence to the workers who are going to lose their jobs and be displaced. that's where it really starts to hurt >> totally >> because these are the folks who are trying to scratch their way through and up the chain >> if they would just immediately say you just keep making your hourly payroll, we're going to send you the money, you the business, we are going to fund your hourly payroll, please take care of the hour live employee that's all i ask for the u.s. government i want nothing take care of my employees. >> yeah. let's talk about -- i mean, i want to play a little bit of devil's advocate, in the areas where they've allowed retailers to stay open with limited capacity and so forth, is there data that you know of that shows that that is safer than indoor dining with limited capacity or

outdoor dining with whatever capacity what do you know about what the numbers say here >> i talk to so many different experts, i'm invited on so many different calls. i'm on the governor's task force here in texas, and everybody talks a different language it's no different than analysts picking a stock and five love it and five don't nobody says the exact same thing. we don't know exactly what the science is do we know that this virus is very contagious? yes. but we don't know that sitting in a restaurant 20 feet from somebody else is going to give it to you. okay so this is what's so unbelievable, you can get on an airline and sit shoulder to shoulder with somebody and it's okay why is it all right for somebody -- and i'm not going after my great friends in the airline business but why are you allowed to fly shoulder to

shoulder but you can't eat in a restaurant or go into a retail store. why is a restaurant employee less than a human being than an airline employee and some of these other industries i'm going to do it again, tell you why can you go into grocery stores and one of the greatest companies in america, your home depots and companies like that and be shoulder to shoulder shopping, plouchies everywhere, but it's okay but for some reason we want to abuse the hour live employee in the restaurant industry and it's really a shame because those are my employees, that's who i've grown to grow up with and love hive h i've had hour lily employees th have been with me for 30 years it's a shame >> spoken with passion and you point out some holes in the logic. >> that's all we want is logic. >> question number two is your

proposed deal to reverse merge with lancadia holding, a spac. i gather there is a meeting about ten days from now that lancadia, which is a special purpose vehicle in which golden nugget online gaming would be the only purpose for it exist. where is that? do you expect that to go through? and where does it stand? >> well, it's exciting there's different things come out of pandemics and we've all realized and states have realized that online gaming and online sports betting are just going to be there and it's so much revenue for states and since the pandemic, we've added michigan, pennsylvania, west virginia and one more and i can't even think about it. but we go officially public trading under gnog in a couple of weeks, we have the shareholder vote i think next

friday so everybody please vote for it but people love this business and the reason is because the growth potential is so unbelievable all spacs start out at a $10 stock. lancadia is trading at $24 people love this stock and love everybody in online gaming and they should because the growth potential, we don't even know the ceiling. >> let's talk a little bit about as we transition from lancadia, obviously you know the market is very receptive to public offerings, whether in a spac or in other ways you have been public before and private, which you are right now. how do you handicap whether to go public or stay where you are? there are reports you're considering going public >> i didn't really think about it we had a very good third quarter. when you really look at what's happening in the world

but a lot of bankers because ipos are so hot right now and the size of my business and the restaurant industry and the gaming industry is something that people would want to own. and so i've listened to bankers and they've said some very intriguing things. there's also going to be disappointedly, there's going to be great opportunity coming out of this pandemic, just like it was coming out of the 90s in texas and 2000 and then the 2008 recession and we've done well in those times. >> you've always said 20 -- >> we see it as an opportunity >> all things being equal, would you rather be private or public? >> well, you can do such bigger deals and there's so much more opportunity when you have a stock book and, you know, we've tried to do some acquisitions in the last six months and have gotten beat out of every one of them by a

public company because they can pay a larger multiple so it's something i'm definitely looking at and i enjoy being public it's fun, the competitiveness of quarter to quarter and year to year if you look at our growth rate as a private company, you were know, it's been unbelievable yet we had a great growth rate as a public company. >> do you like competition and you are in a very competitive business in the nba. you know i have to go there. you've had a lot of changes in the off season, general manager no longer with you, coach no longer with you, russell west bro westbrook, you did a trade for john wall. the big question is james harden is he happy and will he report >> i just read he was tested today for covid, which you have to follow the nba protocols. i have a great basketball ops

team and we've done nothing but gotten better in the off season and picked up more draft picks and we're excited about this season and i think it's going to be a great season for the houston rockets. >> so the words that people use, i'm sorry to hit you with this and this is a sensitive area, they say that harden is, quote, disgruntled. he's got 38 million reasons to be happy is he happy? does he want to play for the rockets? >> you know, james harden, i have all the respect in the world for and james harden wants to win a ring during his period as a basketball player and i think that that's wonderful that he's going to do it and hopefully he'll do it with the houston rockets >> tilman, i'm looking forward to the return of the nba seems like it just ended you know we're big fans and my son, mack, is a big believer, too. good luck. it's good to see you again if i don't see you before the

holidays, have a great holiday and we'll seal you after te you first of the year. >> thank you guys. >> we have a news on progress in negotiations in stimulus ylan joins us now. >> reporter: senator mcconnell is calling on lawmakers now to abandon the two most controversial provisions, including state and local aid and liability protections and essentially just pass the provisions that are expiring, including unemployment benefits, ppp, as well as likely more money for vaccine distribution now, we do know that mcconnell was planning to speak with the trump administration, the treasury secretary and chief of staff mark meadows today so this could perhaps be a way they could move forward and get something passed before the end of the year, but it also comes as some democratic senators are now pushing to add in another round of stimulus checks and we're still waiting for details

on that $908 billion framework mcconnell is calling for an even more bare bones package. back over to you >> yl an an, there's been talk f return of possibly direct payments, another round of stimulus checks to americans i would assume if we're going back to a more pared back, very that goes off the table unless somehow that gets in and the other two items don't. >> right now everyone is trying to put the jigsaw puzzle together there was a letter just circulated by senators bernie sanders, that included senator warren and markey and we heard from josh hawley who says he believes they should be in there as well. there are different factions at play here. right now everyone is trying to figure out what is the right

combination of policies that can get past before so many are going to be facing a loss of benefits and potential eviction from their homes >> ylan mui. markets more or less unchanged on that. we'll follow the nasdaq up half a percent and the dow is up 103 researching and ptesting a vaccine, now they have to-t geti all across the country at 70 degrees -- drum roll please -- below zero "power lunch" will be right back everyone wants

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fda could clear pfizer and biontech's vaccine for emergency use that would then start a huge effort to ship and deliver 100 million doses of the vaccine that also need to be stored at extremely cold temperatures. frank holland has that piece of the story for us >> reporter: packing 50 pounds of dry ice into containers by hand is how pfizer's covid-19 vaccine will be kept cold as long as ten days as it travels if these specialized containers. boxes with 1,000 containers will leave pfizer's kalamazoo facility in delivery trucks. depending on the destination, they will be deliver by truck or take tony air hubs sorted and put on planes. deliveries will happen within 24 hours in the u.s dhl is handling international deliveries that could take as long as three days its president of life sciences and health care calls this the

biggest global lodgistics effort since world war ii. >> the biggest challenge is around that final mile realistically there will be some product that gets lost or potentially dup arrive at the right tamp. >> reporter: at first pfizer's vaccine will be taken directly to hospitals later to state facilities or pharmacy distribution centers then to health clinics or drugstores where vaccines will be given fedst exhas ultracold freezers all around the country should doses be delayed for unforeseen reasons. the containers will have sensors inside to monitor temperature and location as they are shipped and rushed back to the phazer facility. >> it could become a challenge at the height of the issue if we can't recycle and get the packaging pack quick enough to be able to continue to replenish the manufactured capacity that pfizer is able to generate >> reporter: for every box of vaccine, there are dozens box of

supporting materials shipped separately that must arrive in time to give the life saving medicine. >> we anticipate every palette of vaccines will prior about 25 to 30 pallets of accessories to go with that encompasses syringes and swabs and all the other accoutrements that go into a vaccination problem. >> reporter: the coordination will be challenging and pass paced but sill profitability it is expected to generate billion $300 million in revenue for kerriers. >> that estimated revenue number may seem lowe. but it will be high margin citi estimates between single digits and low doesn't digits with airplane capacity lower because of commercial flights that also carry cargo the vacci vaccine rates are expected to

raise freight rates. carriers are expected to benefit from that. the dow is close to record tear tomorrow. this thursday, race and opportunity in america we will take a closer lock at 'lato onomics of the lin couny.wel be right back.

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billion stock offering that's what it announced the shares were initially lower than that news but they reversed higher elon musk is at a wall street ceo council event confirming to quote him, yes, i have mo moved to texas of we have been going back and forth to people in the room whether he said specifically where in texas. he said south texas. there is speculation it could be near brownsville where there is a spacex facility. who knows, austin has some operations with the boring company. musk also saying we thought we could retire a lot of the dee and increase the security of the company and have more of a war chest. >> personally -- don't they have a factory in texas are they building one as well? >> i believe a couple different kinds of operations yeah between the space company, the boring company and like you said could be with tesla itself >> obviously a more favorable

tax treatment than in the state of ka which i guess he has called home for a long time. we wish mr. musk well, right, kel kelly? >>i of course. i should also cnbc has a write-up on this on the website already but musk said that california used to be the center of aerospace manufacturing my company's meaning tesla and spacex, are the last two left. really making a broader point here as well tyler we will see you tomorrow thachg for watching "power lunch," everything "closing bell" starts receipt now. >> welcome to "closing bell. i'm wilfred frost along with sara eisen stocks broadly higher this afternoon. the dow was up 176 at the high now it is about 100. either way, well off the lows of the session this morning let's will be at what's driving the action the pfizer vaccine rollout begins in the uk the astrazeneca candidate gets a small vote of confidence that's helping sentiment. we just got in head lions on stimulus negotiations signaling congress mig