they're confident they can find another job in a quick period of time as well but what's interesting is remote workers are far less likely to say they'll be able to find a new job with the same amount of pay as full-time workers full-time workers are really confident compared to only about a quarter of remote workers say they'll be able to find a job if they want one. >> always interesting. sharon will be back tomorrow with a fun look at some of the workplace buzz words that debuted this year. that does it for us. while the survey reveals people aren't concerned about job security, they may want to rethink that from fedex is right. we'll trade it on "power lunch," which starts right now >> bindeed the dow up 505 here's what's ahead. te tesla bears, they've been in

control of that stock. it's down 60%. market cap below 450 billion boohoo but are the charts starting to tell a different, new story? why one technician says it's time to take another look at tesla. plus, an earnings recession? one analyst is cutting his profit estimates on two major retailers, citing worsening consumer spending trends we'll talk to him about his call and what to expect as we enter 2023 >> thanks. before that, let's get a quick look at today's rally. the dow's up 516 nasdaq up 1.7% now the semiconductors are also putting in a pretty decent performance today. the etf up about 2%. all components trading higher. amd up 4%. asml up 3% six flags is trading higher after an activist investor took a stake. six flags shares up about 12%. >> let's dive deeper into tesla. shares down 55% since surpassing

the trillion dollar market cap last october it's worth noting tesla has joined the s&p 500 exactly two years ago today and it has lost all of its gains since that announcement way back in november of 2020 now, our next guest has been very bearish on the stock, sticking by his call to sell over the past six months, but now he has changed his tune, saying it's time to nibble and go small long on tesla let's bring in carter worth, founder and cio of worth charting i don't know what that device is over your shoulder, but it's handsome maybe it's something -- >> that's the answertron >> we got it so why have you changed your view on tesla? do you think this stock is just sort of bottoming out and the worst is down the river? >> well, for starters, this is

very dangerous stuff it's bad technique and principle to buy a stock in a down trend this stock is in free fall it's not for the faint of heart, but at this point, it feels to me as though we have a crescendo. you have a couple of things going on that all together, to my way of thinking, mean it's time to take the road less travel and play for a bounce as follows one, we are getting day after day, analysts throwing in the towel, reducing their price targets. still high price targets, but cutting them in half and things like that. two, you can't get a stock that's more in the news. not only the stock itself, but it's founder, ancillary and related news item to this company and other endeavors that the founder is engaged in. three, we're now in our fifth monthly decline. that has never happened since

tesla's ipo going back to 2010 so that's a rarity then just in terms of an oversold condition, whether you were to use an rsi indicator or just this simple fact. we are now trading right now 43% below the 150-day moving average. the two other times when you were that far below trend, below your average trailing price, you got a bounce and so i think it's a trade. and at a minimum, if you have been happily short, just get out. >> and if we followed your charting here, sell tesla, sell tesla, sell tesla, and had been short, we would have made some nice money here. you say to go small long what does that mean? and in practice, if tesla continues to slide, do i -- do -- we've got breaking in us i'm sorry. we're going to watch here as president zelenskyy of ukraine and the president and first lady of the united states greet him

at the white house as you know, he flew overnight from kyiv, presumably, or an undisclosed location in ukraine to meet with the president at the white house. his first meeting. then later today, he'll appear in front of congress for a prime time, televised address. the united states is offering something in the order of $1.8 billion in additional aid that will apparently include a patriot missile battery, which is an anti aircraft or missile battery. that is an inflamed grant to ukraine from the point of view of the russians who call it something that is going to bring unpredictable consequences we shall see but there, mr. zelenskyy at the white house. so carter, with thanks basically carter saying go, oh, you're back. you're back! so how do i do it? if i start to make a little money, what do i do? if i start to slide, what do i do >> i mean, just on that breaking

news, all the honor and respect to that man. talk about profiles in courage >> yes, indeed >> back to tesla when you're doing something that's basically bad technique, buying in a down trend, go small. if it's wrong, get the heck out. but if it starts to bounce, add to it. you press your bets when they're working. cut them if they're not working. >> all right thank you so much. appreciate your indellulgence there. rallying today on perhaps corporate earnings might be better than feared look at nike at fedex our next guest says we're in the eighth inning of the rate hike ball game. l let's bring in randy warren. randy, you have an opinion on tesla before we dive into this >> well, not so much i do drive the car so i do love the car. i do love elon musk. he's doing a great job, but you

know, as it was said, it's in a decided down trend so you've got to be careful with that one. >> so where do you think it's a little safer for investors to be looking these days >> like you were saying, most economists, you can't find any that isn't predicting some sort of recession next year the question is really how severe is it going to be we want to remain optimistic but we think there's probably about a 75% chance of a mild recession next year. gdp may shrink by half a percent or so. so that's relatively mild. so you might want to think more about things in the energy sector right now something like that. steer away from you know, falling knives as we just talked about. maybe go steer away from retail. things like that but you know, the energy sector would be a good place to prop up your bets now, i think >> sure. i'm just going to channel my inner michael darta for a second he gets so upset when everybody

says it's just going to be a mild recession how? why would we say that? we just hope if it's deeper, harder, maybe for a little bit more time, i don't know what you do in a position like ours i don't know how you even brace for that possibility or what you do if it starts to really set oon us >> we are long-term investors here we're not just trying to make stock picks. we're trying to do full wealth management picture the full planning picture with the clients. we're trying to help them achieve their goals. so stock picks is a very small part of that, but overall, you want to stay long for the long-term and not try to guess where the market is going. so maybe at this point, being a little bit more safer, you want to stay away from the individual picks and more go in the direction of the diamonds for the dow jones industrial average or the spy where you get really a nice set of diversification but you're also going to get the beaten down tech stocks. you know so you're getting some of that

if you're going broad. and that's a pretty nice way to go right now >> let me come back to your view that you ought to top up your energy holdings. we're going to have a guest on later this hour who says that the best days in energy are beh behind energy and that 2023 is going to be a year of reckoning for energy, particularly for exxon mobil and chevron. if we're going into a mild recession and that recession is not just in the u.s., but perhaps more global than not, why would energy be a good bet here and what part of the energy sector are we talking about? he will later say the exxons and chevrons are done. what do you say is the place to put money in energy? >> so i look for those companies that are doing exceptionally well from an earnings point of view and returning earnings to the investors. so if something like a devin

energy or something like that paying around an 8.7% dividend why would you go against energy? in the recession's really bad, yeah, you don't really want to be in energy it's cyclicly sensitive, but if the recession is mild and there's really not a lot of indication right now that the, we're in a recession i mean, the economy is incredibly resilient even in the face of all these rate hikes so if the predictions are correct and the recession is mild, it's probably safer to go into energy then you think about what could be the upside maybe there could be china reopening and more demand for that energy going forward into 2023 but if it's a terrible recession and a really bad one, energy's going to take a whack. >> you explained your reasoning there very clearly thank you very much. have a good holiday. >> you, too. >> appreciate it coming up, a new survey shows spending trends are worse

ning plus, the comeback stock of the year and the greatest collapse a look at some of the biggest surprises of '22 and what could be in store in the new year. as we head to a break, take a look at share of boeing. the stock is second best performer on the dow after a provision in the new spending bill gave the company a reprieve from a regulatory deadline for ats 737. th stock up 7, almost 8% i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people

achieve their financial goals. visit findyourindependentadvisor.com at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect.

consumer discretionary leading the rally buoyed by nike the long-term picture might be bleaker. according to a survey, consumer intentions are worsening people plan to spend 4% less this year and it's more difficult for people below $75,000. they plan to spend 26% less. what does it mean for retailers? let's ask mark do these results prsurprise you >> they don't. they continue to get worse we asked that question starting in rate august, early september and the intentions were holiday 2022 would be up almost 10% and now it's down. i was surprised people were object mystic early. >> do you think we're going to

see a decline once the numbers are in >> hard to say, but the directions suggest it's going to be harder. we're in the middle of their fourth quarter for january quarter ends and you're still a few days before the holidays here, but they talk about things being weaker heading out of the third quarter into the fourth, things, electronics, toys, et cetera, apparel, all those things getting worse. i think walmart's numbers were down mid single digits low single digits in the prior quarter. so they are negative for things that are more discretionary in nature >> sure. and you are reducing estimates as a result of this. you're trimming your eps estimate for shares of walmart and target those are the consumer names every person who comes on if they want any exposure, they want those names walmart especially the trade down effect. this is telling you, you know,

how would you play the retail space then >> i think those are still the bes places in a tough neighborhood in term of the reason we're taking numbers, it's less about the -- being a lot worse than people expect. in fact, at least in the short-term, we probably hit the numbers out there, be u a lot of it is being driven by consumer staples purchases. if you think about walmart's october quarter for example, overall growth up 8%, so basically all that pass through inflation pricing, general merchandise declining, so that's how you get to a high single digit comp number. where it hits earnings and where folks are going to have to pay attention to going forward, is that unfortunately, general merchandise tends to be higher and staples tend to be less profitable so the lower gross margin and that hurts the overall profit margins that helps things as well. >> talk to me about costco and

why you have a buy on it as opposed to a hold on walmart and target and i was struck by the sales per square foot number i read somewhere. it's almost double at costco what it is at walmart. >> costco is just a great retailer will continue to be in our view. they often tend to have a lot more insulation compared to a company like target with a lot more general merchandise categories almost 60% is being driven by staples purchases. they have members, so it's a captive audience those members see more value in shopping at costco so even in tougher time, people tend to go there more you saw a huge benefit to the business in gasoline inflation they have membership fees. that drives roughly two-thirds of net income over the years probably going to take pricing on a membership fee. probably going to offer a special dividend because the balance sheet's in great shape it's just a really good

business >> wow special dividend that will get people's attention. good to have you >> coming up, four of the biggest companies in the world joining the bidding for the very expensive and potentially very lucrative nfl rights package which one has the winning ticket we'll tell you coming up. plus, a huge winter storm moving across the country just in time to screw up my christmas shopping and the busiest travel days of the year >> got to get it done. >> petbuige ttieg will tell us how the airlines are going to get everyone home for christmas. "power lunch" will be right back

the saga of nfl sunday ticket may be coming to an end and the winner could be youtube and google as we reported this week, apple and disney dropped out leaving only amazon, which has the thursday package, and youtube. directv had the rights to offer this package for nearly 30 years at about a baillion and a half per year no word on what fans will have to pay every week. >> i guess it would be a

streaming product. through your internet. >> i guess, but it gets back to the myriad, are you opening the youtube app? are they going to try to make it accessible and different like some tvs like mine will offer a channel called youtube in my package. >> and there's youtube tv, which is an excellent product, by the way. i've used it before. but you have to pay for that i wonder if they're going to use this, i would think they would use this to cross sell to get people to go over to youtube tv. >> because reportedly, apple was in the mix classic auction technique. they wanted to be in there to raise the price, but not actually to get the package. if that's the case, if that pushed up what youtube had to pay, they're going to have to come up with ways to monetize this and cross promote >> do you watch red zone >> i love red zone it's the best product ever >> i love it >> scott hanson. >> that guy is good. >> you are the man very good. if he were involved with sunday

tickets, you can't get him announcing every game, but i agree with you >> i don't get how he doesn't go to the restroom for secven hour. >> haven't heard from him in 45 seconds. >> they just told me i could move on. >> let's get to kristina partsinevelos. >> yeah, move on to me here's what's happening at the hour president biden has welcomed president zelenskyy to the white house. zelenskyy says he has come to washington to thank the united states for its help in the war against russia he also says he's made the trip to discuss strengthening ukraine's defenses justin bieber is reportedly near a deal to sell his music catalog for $200 million "the wall street journal" says the unit of blackstone is the buyer. earlier this week, they bought the rights for justin timberlake and that was over $100 million spent on him. and the new york mets are snapping up carlos correa in a

$350 million, 12-year deal correa did sign with the giant, but that fell apart over an issue with his physical. tyler? >> my father-in-law is going to be so over the moon about carlos correa coming. i think he is. my goodness gracious >> and only $5 million less. >> yeah, right and you've got, it's nice to be steve cohn, isn't it just to be able to buy any player you want. thank you. >> thank you ahead on "power lunch," as 2022 comes to a close, we are going to look at the comeback st stock of the year and the collapse of the year >> speaking of collapse, the supply and demand dynamic in children's medicine has all but fallen apart with evermpty shels everywhere wel ok'llo at how we got here and how to fix it. "power lunch" back in two.

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xfinity rewards. our thanks. your rewards. 90 minutes left in a pretty strong trading day let's get caught up across stock, bonds, commodities and the outlook for holiday travel with someone who knows a thing or two about it. we'll start with bob pisani at the new york stock exchange. why the rally, bob >> two things, number one.

consumer confidence came in better than expected that's helpful we want consumers to be confident good news is good news and great earnings from nike and fed fedex. nike is the most important thing and this is the biggest mover on the s&p 500 right now. so we had better inventory better holiday sales and better comments on china. the big three, low expectations, they exceeded those expectations double digit gains carnival had decent, not amazing earnings the important thing is bookings were strong. that's why we're seeing those cruise lines move to the upside. another group that's doing better is the home builders. existing home sales are on the disappointing side, but mortgage rates are continuing to come down 6.3% versus 7.2 about six, seven weeks ago. all homebuilder s are moving to the upside another group that had a terrible december were the banks. big names were 10%down

52-week lows not long ago and they're bouncing nicely today. that's a good sign to see the financials showing siegns of life we had four down days, two updays the santa claus rally starts on friday this is the tendency of stocks to move up in the last five days of the old trading year and first two days of the new one. we'll see if santa comes through broad and wall >> we're hoping for it after this year. thank you. to the bond market now rick santelli tracking the action after that strong 20-year auction. rick >> yeah, you know, strong 20-year auction. strong consumer confidence, yet every yield from twos to 30s is lower on the session let's look at interim 20s. you can see at 1:00 eastern, rates dropped at investors flocked to buy into the 20-year. month to date of tens. on the left side, that low, that month to date low is 3.41% many people that is the low and

yields have been going a bit higher and if you open up the chart to mid october, we see the post covid high yield close on the left it was on the 24th of october around four and a quarter. why is that important? because that's the upper bound and lower bound will go back to mid june you see that left side there that spike is 3.4, 7%. many traders think that's the support level to pay attention to in the big picture. kelly, back to you >> thank you, rick oils closing for the day energy complex getting a nice bump pippa is back with us i think from cairo with the numbers. >> that's right. back from egypt and oil is higher today thanks inpart to the inventory report, which showed a larger than expected draw, meaning demand is still there. u.s. stockpiles fell by 5.9 million barrels against estimates for 1.7 million barrel decline. now, optimism around china is

also boosting crude. let's take a look at prices. wti up 2.7% with brent crude around 82 for a gain of 2.8% now we are also watching the winter weather blast that's bringing frigid temperatures to much of the u.s. starting today and that could curtail holiday travel plans mea meaning we could see softer demand for gasoline and jet fuel next week. to energy stocks, up about 2% and leading the s&p. >> thanks. now to the travel season aaa predictingthat 2022 will b one of the busiest in more than two decades. an estimates 112.7 million people will travel between december 23rd and january 2nd and of course this is just as a major winter storm is sweeping the nation for more on how airlines and passengers are preparing, let's bring in the secretary of transportation, mr. pete buttigieg. welcome. what's your message to both the

airlines and passengers who are right now trying to figure out what to do >> well, the message to passengers is to stay informed make sure you're checking frequently on the status of your flight and check whether your airline has offered a free opportunity to change your ticket a lot of the airlines have been doing that in the last couple of days giving people a chance to move their travel up, maybe if you're in the midwest for example and your travel plans were to go tomorrow night or friday morning. look at whether you can beat the storm or push them back and travel after it's passed it's affecting multiple key airline hubs having gotten through a smooth thanksgiving week including the busiest travel day since before covid, things went so well, but this time around, unfortunately, it's not going to be as smooth because of this weather. it's a good time to look at options, create lots of extra time have a back up plan and stay informed >> yeah, i don't know whether

you, mr. secretary, going back to your home in south en, but good luck if you are sounds like it's going to be pretty tough let me ask you about employment levels of both the airlines and i know tsa isn't in your department it's part of the department of homeland security. are there enough people in the airports to handle the people who are coming to the airports >> well, there are, but there's not a lot of cushion we really need to see more staffing on the airline side we're especially looking at pilots and mechanics even in our own organization at the faa, we're working to get more air traffic controllers prepare and qualified. really across the travel and transportation sector, what you're seeing is a business model that over the years really stripped out any sense of excess employment now catching up as you've got demand off the charts. we're so glad there's this kind of demand but airlines, we saw over the summer, were really struggling to service that demand and it's going to be very

important for that hiring to continue that staffing to continue to create some cushion in the system. especially when you go into days like this where there's weather. nobody can control the weather, but you can control how resilient the system is as you were dealing with it. i'm going to be watching closely to see if the airline sector has made itself more resilient than it was earlier in the summer when we saw the extraordinary levels of disruption >> speaking of resilience, is it true that if we were just able to upgrade the radar system, we could have triple the number of planes, better communications, less cancellations anned that kind of thing. where are we on that front >> there's a lot of progress to be made. none of it's simple. i don't know if there's any such thing as low hanging fruit when you're talking about the most complex air space in the world and and extraordinary safety record that has to be maintained through all of the changes but it is true that a lot of air traffic control works on a

paradigm that's been built up over decades and as we enter a period of new technology, new forms of computing power coming online, there are more efficient ways to manage our air traffic a lot of different things need to be balanced through that, our priority's going to be safety but we can't go further into the 21st century on a 20th century model and that's why we're making these changes again, very carefully and intentionally. we're going to continue to see that progress across the system. >> there was a lot of pride taken on the part of the administration regarding the infrastructure spending bills that have moved through congress and reached the president's desk to be signed what can you tell the american people about when they should expect to see the fruits of that infrastructure spending on their roads? on the rails in the ports even in the air. when should we expect to see the cross bronx get back to where

the cross bronx ought to be, for example? >> one thing i'm really looking forward to as we go into this new year is that it's more and more going to be about delivering we spent the first year of this administration just getting the bill passed. last year, a lot of time spent standing up these programs moving the dollars out the door. we've got about $100 billion identified for projects. that's going to accelerate going into this year now have, of course, not all projects are alike some can be done in one construction season. some are underway. others including some of these major, complex projects that are the things you see in the gateway vision in new york or things that straddle multiple states sometimes, some of these are going to take years and what's exciting about that economically is it means a pipeline where people can plan businesses and workers can plan on a lot of construction opportunity. not just one year at a time. not just a one off

really a decade of building. but it's safe the say we'll be cutting ribbons on some completed projects in short order. others are going to take the better part of this decade to see through and we designed this with long, medium and short-term projects in mind it's exciting and fulfilling to be underway on this. including today, an announcement of another round of projects focused on rural america that are going to improve everything from safety to throughput in a number of key locations. >> going back to the rails for a second you know, it's ironic to hear all this funding on the one hand, but many of us are more se sympathetic to the flight of the rail workers they're exhausted after years of being overworked are you satisfied with the way the rail strike talks played out and do you have any regrets about how that went down during that period of time? >> our position has been that every american worker ought to be paid leave. every rail worker. every journalist every fast food worker and

everybody in between and we're going to continue pushing for that because we think it's the right thing to do. if even one republican had changed their mind about that in the senate last year, that might be a raeltd today, but we're not giving up on that. at the same time, there have been extraordinary gains the rail labor deal that was agreed to and then enacted by congress, definitely not perfect. didn't satisfy everybody, but that 24% pay increase and the other improvements i think are well deserved by rail workers and yet, it's clear there's more work to be done and in a way, this ties back to the conversation we were having earlier about the airlines you've got so many businesses that have really tried to ring their business out of as few workers as possible. in the case of rail workers, what that has led to even when they have sick or vacation days or days off and many of them do, they can't actually access them because of the scheduling. it's not that different from the dynamic you have with a lot of

pilots, i think this is going to be a big topic going into next year pilots finding they're not able to get the kind of work flexibility they feel they've earned it's playing out across the economy. definitely in the transportation sector and something's got the give here. >> interesting thanks appreciate your time today >> thank you come up, the country facing a new shortage this winter season cold medicine. especially for children. we'll look at why and what's being done to boost supply and as we head to break, remember, you can now listen to "power lunch" on the go look for us on your favorite podcast app. follow and listen today. that is not a suggestion that is a direction.

the biden administration says it will release doses of prescription flu meditation, tamiflu, from national stockpiles to help with the strong uptick in flu this season add in rsv spikes hitting hard in school age kids right now and that's creating a shortage for children's fever and pain medicine cases let's bring in bertha coombs with the story hi, bertha >> hi, tyler

retailers are seeing heightened demand like they've never seen for for the medication the flu is hitting kids hard cdc reporting 30 deaths from influenza this season. that's of december 10th. on top of the big increase in childhood respiratory virus or rsv, infections this fall. it's making for unexpectedly strong demand for children's otc meds jnj says the issue here is demand rather than supply chain. and tells cnbc we recognize that this may be challenging for parents and care givers and say they are doing everything they can to maximize production capacity including running a lot of their production sites 24/7 i just spoke with the fda commissioner and he says all of the manufacturers are working

allout to meet supply demands and the fda is monitoring those supplies carefully >> we're urging people not to buy more than they need because there's enough to go around for the amount of illness. it's just that the minute it gets shipped out, it gets bought and if people buy more than they need and everybody does that, then people who need the products won't be able to get them >> to that end, some pharmacies are acting to try to preempt shortages. cvs is limiting purchases to two items in store and online. walgreens and rite aid are limiting purchases be cautious about how much you buy so there's enough to go around >> we're coming off of covid the whole point was to mobilize national resources in a way, the sicknesses now are related to covid because it seems to be this boomerang effect can we do something more to get

these medicines out on shelves >> they are trying to. they are literally all producing 24/7 so they're adding more production capacity. the problem is that we are not just seeing it here in the u.s., but across the northern hemisphere where we're all experiencing this triple deppic ri the hope is we will not see another spike over the holidays, that people will be more careful and we'll see supplies start to normalize in the new year. we are seeing some areas where rsv, for example, is starting to stabilize and even come down the flu as well is looking to stabilize, but again, we have the holiday coming up and lots of gatherings. >> when could these shortages abate? >> that is the question. if we don't get another big spike, he seems to think over the next few weeks, we'll start catching up. but that all depends on whether we see these levels in terms of flu and rsv in particular, abating here as we head into the

new year >> thank you >> we can only hope. thanks very much bertha coombs. for all the factors we talk about that move market, nothing matters to an individual stock like earnings. coming up, we're discussing three big movers and where those stocks might be headed next. stay with us if you wake up thinking about the market and want to make the right moves fast... get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity.

today's three-stock lunch is focusing on three big movers post earnings. fedex says they plan to cut more than a billion in cost nike surging after they topped expectations, made progress on inventory issues and carnival trading higher let's trade these names with bill stone, glenn view company chief investment officer bill, fwgreat to have you here let's start with fedex >> it's interesting. we actually just sold fedex at the beginning of this month after owning it for quite some time so long-term, a lot of the reasons we liked it are still in tact really there's only a couple of publicly traded companies in the space so they dominated it long-term, the ecommerce volumes will be there. the problem is short-term, they're lacking the volumes from

covid, so their volumes are down second part of it is wage, inflation, fuel costs. that's where it gets hairier and why the stock though the bounce today, has been announced a lot of cost cuts which is the right direction to go we say wait because probably think there's more pressure on the company since we expect a recession next year, there may be kind of an additional pressure point, but long-term, we look for an opportunity to get back in there. >> let's move on to nike, which is one of the stocks of the day, up more than 13%. >> yeah, i mean, nike, that is one of the great ones in terms of earnings, so when you looked at it, sales up 27% year over year stripping out currency, which is, i think, the way to look at it, things they can control. i think it shows the strength of their brand and why you should probably be interested in it the other parts of it that get

interesting is they're one of the things, and again, strength of brand, they have the ability to go around retailers, so they are seeing growing growth of direct-to-consumer sales so they don't have the middle man in there. the last part, which is a play on china, there's an opportunity for growth there i think that one, we don't own it, but i think it fits in what we would like which is, you know, great brands that can live through any recession, and frankly, you don't need to worry about in terms of any sort of economic downturn, but they will, you know, highly likely they come back storonger than ever after. >> final name, let's talk about carnival, what do you say? >> that's an interesting one so, you know, the positive is carnival is right now benefitting from, you know, the thirst for getting out and traveling and experiences rather than goods post covid, but that being said, the company was just, you know, close to crushed

by covid, so they lost money in 2020, 2021, and will lose money again in 2022. looks like they should be able to turn it in 2023 in terms of at least some earnings, but the problem is margins will still be crimped by, you know, a lot of the additional costs that deal with protecting people from the health side of things. also they have still credits that people need to use that they paid for already from covid times. it's a road back i'd say because it's, you know, financial help and balance sheet is pretty weak, i call it a speculation. it's not the kind of company we would own here it may be worth a look at for speculators, because, again, it's been beaten down into the ground it's still leveraged that if you get another unfortunate, i don't want to talk about it, another covid shut down kind of thing, it may not make it. >> we appreciate your thoughts

on the three big earnings movers bill stone. check out shares of netflix, that stock has rallied nearly 80% off its lows for the years up next, we'll discuss more of 2022's biggest bounce back check out our stock leader board, propelling ryan reynolds mountain goats into first place. he's got a pretty sizable lead over mr. wonderful, kevin o'leary. terry lundgren will be in first place. we'll be right back.

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2022, it is no secret was a volatile year for stocks with many seeing big moves off the 52-week lows of course they had to get to the 52-week lows first etsy 100% off its low hit in june netflix up 79% and boeing with a 70% gain, but what about the biggest collapses. joining us now is steve, a cnbc contributor. welcome, by the way, steve, and happy holidays one place to start would be with the semiconductors as a collapse. >> yeah, so this is, you know, and tyler, when i look back on this, this was sort of a set up that was telegraphed you had coming off the pandemic low, you had people over ordering computers they were stuck at home. they had to order laptops, they

had to order tvs they were making their men and women caves pretty luxurious a lot of over ordering supply chain distraught. you couldn't get cars so they were over ordering chips we went from a drought to a glut and now if you look at it, what do you associate these chips with gaming that's probably a head wind right now. crypto mining. you think that's ahead wind right now? that's a head wind right now, and your ai is probably the biggest tail wind, but once again, tremendous head winds going forward. everyone over ordered. they have to catch up. >> and you think of putting a name on it, nvidia, which had been such a darling in 2020, 2021, it was a super stock, frankly, and today representing what you just described. let's move on to oil and energy. you sort of called the peak, called it falling hard at 125 a

barrel you were right >> yeah, you know, and i appreciate that. well, first of all, it's very easy on wall street to go against the consensus bets and you're right a lot more often than you're wrong on those, and when i had called the collapse, it was around 1:20, 1:25, people were still calling for 175, $200 a barrel of oil, and it just doesn't happen like that so although there was a disconnect, tyler, from the energy companies that are run more efficiently now and the price of the commodity, so the companies went higher, commodity went lower, it's still, if you look at exxon mobil, use this as an example, it didn't get to the level that it was at from 2014 until this year. took eight years to make that new high, so i think the two years of outperformance is over for the energy names. >> steve, i like your big

comeback stock of the year the only problem is it hasn't had a comeback yet. >> which one are we talking about, the disney? >> meta. >> oh, meta. well, for me, you know, meta, when i looked at that when it was trading basically in the 80s, middle 80s, that one was ripe for a bounce back, so, you know, there's been a head wind where i've been negative on meta, kelly, for a while now no one knows what the metaverse is change the name of a stock, no one has any clue it needs a therapist, so i think mark zuckerberg now is actually figuring out let me figure out what to do with the successful part, the investment part, how to throttle out investment it's all up to him about how to throttle out investment. if you look at the stock, it's bounced back pretty aggressively and i expect a lot more to come in the next year. >> meta may need a therapist

another that may need a therapist is disney after all it's gone through. we have a couple of seconds, i know that's one of your picks here based on its franchise strength and so forth. >> netflix as well. >> steve grasso, great to see you. have a great holiday see you next year. >> you too take care. >> thanks for watching power lunch, we'll hope to see you tomorrow. and "closing bell" starts right now. >> thank you, kelly, thank you, tyler. stocks getting a big boost as strong earnings and upbeat data give confidence to the bulls this is the make or break hour for your money welcome to the closing bell, i'm dominic chu in for sara eisen today. as we head toward the all important power. dow industrial up 1 1/2%, same for the s&p 500, and the nasdaq composite all up across the board, that 1 1/2% mark, the 10-year benchmark, just at a hair, 3.69%. and check out the names. two of them driving the