tesla's investor day rivian tumbling after results. and we've got new auto sales numbers. we'll talk to the ceo of car gurus about sales trends as that stock is jumping >> plus big decisions from the fda and biotech stocks making big moves as a result. we'll talk to the company -- ceo of a company whose drug got rejected but the stock isn't sinking. but first a check on the markets which are right now red across the board. the dow in negative territory by

47 nasdaq the worst performer down 3/5 of a percent on higher interest rates >> and for more on the day's big moverslet bring in dominick chu and kristina partsinevelos dom, you he go first >> let's take a look at two stocks moving opposite directions shares of 3m right now among the best performers in both the dow and the snvp this is the industrial giant known nor everything from scotch tape to post-it notes to commercial adhesives and coatings it's getting some help with some incremental developments in a big legal battle it's currently engaged in in this case a class action lawsuit where past users of certain 3m earplug products are suing alleging hearing loss while using firearm products today 3m says u.s. defense department records show that the, quote unquote, vast majority of claimants demonstrate normal hearing under accepted standards now, there's more likely to come in this scenario, but that's what we've got here with the shares climbing. those shares up 2 1/2% we're also looking at the worst performing stock in the s&p

today. that's lowe's. after america's second biggest home improchlt retailer posted mixed quarterly results. there seems to be more emphasis on the decline in sales at established store locations as well as what's being viewed as a more disappointing forecast for that so-called same-store sales metric also a full-year sales projection that fell below some analysts' estimates. those lowe's shares currently down about 7% and trading right now. now let's turn it topher to kristina partsinevelos what are you seeing from the nasdaq >> well, dom, i have a theme today and it's all about direct to consumer brands shares of direct to consumer health care brand figs are plunging almost 25%. 24% lower today on softer sales outlook even though he previous quarter earnings and revenues topped estimates also it appears some direct to consumer brands just can't resist opening brick and mortar stores figs will open its first store in l.a. in q3 of this year speaking of that trend, warby parker shares are lower as investors continue to digest its quarterly results from yesterday morning. analysts at citigroup, baird and

telsi all cut their price target for the eyeglass retailer. citi is the harshest went from a target of 26 a share to $13 a share the stock is down over 6% today. lastly, hims & hers. the direct to consumer brand still higher today after soaring over 20% yesterday on a narrower than expected loss and a very upbeat revenue guidance. the stock is on track to close at a new high. it's up 1 1/2% right now >> kristina, thank you very much kristina partsinevelos we begin with several pieces of news in the automobile sector starting with the event that everyone is waiting for and that is tesla's investor day. phil lebeau joins us now live. phil, what do we expect to hear this evening from tesla and elon musk >> well, it's elon's vision for the future that's what we're expecting to hear, tyler. and some of this is going to be nuts and bolts in terms of what investors want to hear regarding costs, et cetera, and driving deliveries but overall when you look at the

event today a couple of things stand out. one, we will hear about master plan number three. remember, he he's had two previous master plans that explained the creation of tesla, then the growth of tesla this is really tesla going full boat in terms of mass production, really growing the deliveries will there be a lower priced model that he refers to? i don't think he's going to show us a lower priced model but he may say look, this is our plan over the next couple of years. and then finally the focus as i mentioned, it's going to be on lower costs and higher deliveries their market share is a little, basically 2/3 of all evs in the u.s. are tesla right now now, that's going to come down simply because more evs are going to be rolling out over the next couple of years but tesla does want to increase its deliveries here in the united states and as part of that it's going to be focusing on increasing sales, particularly on the lower end of the market and to that end we heard yesterday from the president of mexico that there is a plant that will be announced that tesla will build in monterrey,

mexico how big is the plant, other details? we didn't get any of that yesterday from the president of mexico he says elon will be talking about that today >> tesla is known at these kind of events and musk is for some surprises. could be a plant is there a possibility of a stock buyback? >> i don't think so. i mean, it's possible. but that's low on the totem pole in terms of expectations >> and what they need most it seems to me as a casual observer is a new model car, number one probably a lower priced one. and number two, they need to get their truck in the game. >> well, it goes in -- the cyber truck goes into production later this year. but they really don't ramp up deliveries until next year and remember, the interesting thing there is yes, it's a pickup truck but it doesn't look like any other pickup truck that's out there. it's a lifestyle pickup truck. will it do well in southern california and the l.a. area you bet. other urban areas? absolutely how will it do, let's say, in

kansas city? wichita? eh, might be a little bit tougher. >> yeah, you got that right. >> well, and it comes on a tough day with rivian stock falling. let's turn to that i think last check it was down 17%. delivery guidance didn't meet expectations there's a couple things to sort of unpack here does it actually point to tesla's strength in the segment or is it a bit of a warning for the whole sector >> i don't think it's a warning, nor is it an indication of tesla's strength you know what it is? it's all specific to rivian. this is a startup. and when you look at the stock, yes, it's close to an all-time low here and people are going to focus on the fact that their delivery cadence or guidance for this year is going to be lower than some were expecting, coming in at about 50,000 that's how many vehicles they expect to deliver. most thought they would say hey, we're going to deliver 60,000 vehicles but look, it's the supply chain. it's still challenging r.j. on the conference call last night was saying we still have

some problems here, we are just not at the level of success in terms of ramping up our manufacturing that we're shooting for that's why they're going to have negative gross margins this year now, if you are a rivian investor or a bull on rivian, the good news is they are forecasting to be gross profit positive next year the question is can they get there? ramping up manufacturing is tough, guys, and that's what we heard from rivian yesterday. >> all right let's move on to auto sales overall. it's the first of the month we get those numbers. how do they look for february? >> okay. i mean, look, it's a decent month. but keep in mind it's a low volume month january, february are the two lowest volume months of the year nobody in the industry, nobody takes what we see in january and february and says this is what we'll see for the whole year the sales volume is going to be about, what, 14.2 to 14.4 million. there you see some of the numbers from hyundai, toyota and honda. and again, these are in

comparison to february of last year and because it's such a low volume month nobody reads too much into them we will hear from ford tomorrow. and at the end of the day what we're looking at here is whether or not we see steady increase in demand and sales and oh, by the way, what's happening with inventory levels. this is where it starts to get a little trickier for the automakers >> and what's the read-through, phil, from autozone, autonation, some of the auto improvement stocks those seem to be holding up relatively better than the home improvement names. >> right well, look at what you have with the used car market. i mean, used cars have been red hot. you have more people than ever who are driving a used car a couple of years ago, and i have to get the updated data, but a couple of years ago about 20% of all used vehicles in this country were at least 16 years old. what does that say about the demand for autozone, any of the auto after-parts retailers people want to keep those used cars running longer.

so that's why we're seeing the continued success of those stocks and those retailer. >> that's a great point. phil, stick around we appreciate it >> another key auto headline we're watching, shares of the automotive research and shopping website car gurus soaring on better than expected earnings. let's bring in jason trevisen, ceo of car gurus jason, welcome how's business and i guess pretty good because the earnings were good >> yes thank you very much, tyler yes, we had earnings yesterday and we're very pleased with the quarter. we have a he very strong marketplace business we're the largest marketplace in the u.s. that helps consumers shop, finance, buy and sell cars and it's a business that drives value to consumers and dealers we also had a lot in digital retail which is a key theme in the sector and happy to talk about that >> if i'm understanding some of the history of your company, it

appears to me that your revenue is highly variable, up and down. can you walk me through that and correct me if i'm incorrect about it >> sure. we think of our business in a couple different pieces. one piece is our core marketplace business, which is a subscription business with dealers, and it allows us to connect high intent consumers with dealers who have cars that they want to purchase. that's a highly predictable steadily growing business. it's also nicely profitable. a couple years ago we acquired a business called car offer that's a digital wholesale business and that's a transaction revenue model. that's going to be more variable than a subscription model. and on top of being a transaction model the wholesale sector in particular has been highly dynamic in the last couple years, as inventory has ebbed and flowed with supply chain issues and so that's what's driving a

lot of the revenue volatility that you've mentioned. >> would you, jason, ever move to a consumer delivery model like carvana which looked great a couple years ago and now has -- now is struggling >> so a big push for us is what i referenced, digital retail and the first step of digital retail, retail being when a dealer sells a car to a consumer, a big piece of that is moving more of the transaction online but maybe not the entire transaction online so today only about 1% or 2% of consumers want to do the entire car purchase online and have it delivered. in fact, about 70% of consumers want to do more of the transaction online but then go into the dealership. so we have products today that allow a consumer to shop on our site they can get a trade-in valuation. they can buy other finance products from the dealer they can put down a deposit. they can set up an appointment and then go into the dealership and spend an hour completing the purchase rather than four or five hours that's been a huge success among

consumers and dealers. we're also innovating on ways to help dealers deliver cars to consumers because while it's only 2% today who want it delivered, we certainly think that's going to continue to grow >> what is the mix, jason, right now, between new and used cars that you're selling and how does that compare with pre-pandemic >> so on our site we have the largest inventory of any marketplace and that includes both used and new. there are about twice as many used car sales in a given year than new on our site we add a lot of value to the consumer when they're shopping for a used car because there are so many more unknowns how that car should be priced, what condition it's in because it's a used piece of inventory. so about 90% of the leads that we deliver to dealers are from consumers who are looking for a used car but if you're shopping across new or used and a lot of consumers are because they're not sure if they want to buy new

or used, you can come to our marketplace and see both >> i want to go to phil lebeau with a question. before i do that let me ask you this very quickly. do you put used car sellers together with used car buyers one to one in other words, facilitate that transaction. >> we do we offer, as i said, a value proposition to consumers that is shop, finance, buy and sell p. so on the buy and sell piece a consumer could buy a car from a dealer that's what we call a retail transaction. they could also buy a car from another consumer that's a peer to peer platform that we offer. and it's a great way to find cars that are very well priced, they just don't have the be benefit of having a dealer involved and there's more elements that the two consumers need to figure out themselves. we also have the opportunity for consumers to sell cars so you can come to our site today and enter your license plate or your vin, answer a few questions on your car, and we'll give you a real-time cash offer

on your car. come pick it up from your house and wire you the money that day. >> all right phil lebeau, you have a question >> jason, i'm curious as we've seen auto loan interest rates rise over the last year, how much has that slowed down demand in your opinion, or do you look at this and say people simply trade down, they were going to buy an x percent or x priced vehicle, the interest rate makes them move down a little bit? >> great question, phil. i think it's done both so we see that car volumes, used car volumes are in fact down from where they were a year ago. 2021 was a very active year in used sales but they're down year over year. we're also seeing a shift on our site of consumers searching for and shopping for lower priced cars $30,000 seems to be a trigger point where consumers seem to be more interested in cars under 30,000 than over 30 than they were before. when you look at interest rates

and you think about the monthly payment on a $30,000 car with rates where they are it's getting to be numbers that are just too significant for a lot of people. >> all right thank you very much. phil lebeau, we appreciate it. jason trevisen, we thank you as well >> i'm wondering, can you sell your neighbor's car? use the -- anyway. coming up, stocks making some big moves on the back of fda decisions. and one stock that isn't moving despite what seems like a big setback. we will explain all of it. and bond yields, those are are jumping too. the 10-year yield briefly topping 4% today for the first time since november. we will ecin wchk ith a fired-up rick santelli coming up on "power lunch." technologists in india, and customers all on different systems. you need to pull it together. so you call in ibm and red hat to create an open hybrid cloud platform. now data is available anywhere, securely. and your digital transformation is helping find new ways to unlock energy around the world.

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busy day for the fda the raerth making some key decisions regarding three biotechs regarding cytokinltics'. approving -- and serepta moving ahead with their gene therapy treatment. mig tirrell who can pronounce those names a lot better than i do has more. >> reaita. this biotech stock was down yesterday. for a rare disease called frederik's ataxia. there was some questions raised on the efficacy of this drug it got the approval. analysts are saying it's a broader indication than expected and the company priced this drug at $370,000 a year which is a

lot more than barclays had been estimating, 175,000, though they do note it is expected to be discounted potentially quite a bit. that stock up 200% on that news. sarepta up they were told by the fda the agency is not going to hold a advisory meeting for their muscular gene therapy. the fda may be positive on approving that drug which could be more than a 4 million product for the company. the decision expected in may finally cytokinetics fweting a negative decision from the fda yesterday on their lead drug for heart failure. however, investors have been split, even rooting on this one not to get approved because they're much more excited about the company's second pipeline drug for another heart condition. the fda asking for another trial. cytokinetics saying it's not going to run one, it's focused on the next drug in the

pipeline >> is glaxo making some progress on this rsv bvaccine? >> yeah, we've been watching the fda advisory committee on its rsv vaccine. that's after pfizer's vaccine went before the committee yesterday. got a positive vote but it seemed a little equivocal not a total home run it was 7-4 in favor. gsk is getting the vote today and so far it looked a little more positive than pfizer's but both looking like they're getting positive endorsements here >> very interesting meg. stick around let's bring in robert blume, ceo of cytokinetics, the firm you just mentioned maybe you can explain why the market was rooting for you not to get approval because in this case they think the business and science of the drug an are not aligned. >> good afternoon. it relates to your question. we did know coming out of the fda review that there was a possibility the fda may reject the pplication, and they did

and investors have been very clear they would like to see us focusing to the second drug in our pipeline, a drug that is being developed for a different heart condition, a genetic one that follows behind a drug that we had a hand in discovering that led previously to the acquisition of a company that we spun out that company was acquired by bristol-myers squibb more $13 billion. we have a next in class drug behind the one that we helped discover that led to that acquisition, and we truly do understand that investors are more bullish, more optimistic on that drug for that condition and will be presenting as soon as this weekend data from clinical studies of that second drug as well as a pivotal clinical trial data set for that second drug later this year. so i do think investors are far

more on ptimistic about what th could mean for shareholder value. >> so as i'm understanding it, this second drug holds promise and has you optimistic what do you do, then, with the first drug that did not make the hurdle >> so the first drug, which is a drug for the potential treatment of heart failure, still a very important epidemic in our country, was rejected by the fda despite a positive phase 3 study. and the fda told us in a letter we received yesterday that they'd like to see us do another trial to confirm the effects we saw in the first trial we are not planning to do a second trial, and instead we'll seek feedback from fda about what they would be expecting from us. and at the same time we're going to be seeking approval for that drug outside the united states with other regulatory authorities. we are doubling down on our

second drug. we recognize that's the most important priority for the company and as we'll be elaborating with our q4 earnings call in a couple of hours, that's going to be the priority emphasis of our investment spending and expected near-term milestones >> meg, jump in. >> thank you, tyler. robert, it's meg tirrell thinking about this first drug you got, you had a positive phase 3 study. maybe the benefit was considered marginal but i guess the question is would this actually help patients if it got on the market and understanding that there are limited resources for biotech companies of your size, what happened to this drug? i mean, is it an opportunity cost that here in the united states it's possible patients just won't get access to something like this? >> yeah, so meg, you and i have known each other for a long time, and as you know, we've been working on that heart failure drug for over 15 years in clinical trials over 30 clinical studies including a positive phase 3 study. and that phase 3 study was

conducted in over 8,000 patients in 35 countries. it met its objective, but fda determined that that alone was not sufficient we do believe and heart failure experts have weighed in on this through articles and editorials and also in social media, we do believe that this heart failure drug was deserving of approval it plays a role in the treatment of patients who largely cannot take existing standard of care therapies because of safety or other issues, and the efficacy of this drug in that clinical trial proved to be on top of standard of care so we'll try to understand best what fda is seeking to communicate to us, and in the meantime we'll seek approval outside the united states. and as i mentioned before, we'll double down on what are the other drugs in our pipeline including the onefor hcm, a

genetic disease, a different heart condition. >> right and of course that is the similar drug to the one you mentioned before that was acquired for $13 billion by bristol-myers squibb so i guess the question is, robert, are you having m&a conversations with any big potential acquirers yourself >> so obviously i can't be commenting on something like that in a forum such as this what i will say is we're prosecuting this program emphasizing where the science can translate to potential new medicines for patients that's what we can control that's what we're all about. and as ceo that's what i need to make sure our company is doing well >> robert, thank you so much for being with us today. mr. blum, we thank you and meg tirrell, as always, great to see you thank you as well. straight ahead on the program, closing the gap. cnbc releasing its limited work survey with momentive. the results showing the weight of economic and social issues driving women at the vp level and above to leave their jobs

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stocks, bonds commodities, whatever else there is and we'll begin with bob pisani at the new york stock exchange. hey, bob >> hey, tyler. we are starting march like february ended, which is not good these ism numbers for february not helpful. we're showing higher prices paid we've got to get these inflation numbers down the market's going to have trouble advancing without it let's look at the s&p 500. we're at a very critical support level. the 200-day moving average is 3940 yes, that's important because we've been above that average for months now bulls say well, we still have positive momentum, we're above the 200-day. we drop below that you have a lot less technical support for the market and again, that's very worrisome. so here's the problem with stocks there's two problems there's a technical problem. we don't have any momentum no sectors, not technology, energy, whatever consumer staples are actually showing any positive momentum. so a lot of people are on the sidelines. the other's a fundamental problem. the earnings are in trouble right now. especially amid the higher interest rates we're seeing. we've seen earnings come down for the last several months.

they're about 1 1/2% for the s&p this year. that's pretty measly but it only started with modest expectations to be up about 5% for the year beginning on december 1st here's the problem this is a very slow descent down but it's based on the soft landing idea it's based on the idea, and this is the scenario right now, that we're going to have lower inflation and moderating rates and that's going to mean we'll have stable earnings in the second half of the year. but wait a minute. that may be wrong. we may have higher inflation and higher rates if that's the case forget about it we're going to have lower earnings in the second half of the year and this is what the stock market is grappling with right now, why we can't get any traction at all. the bulls say cheer up, bob, we're still up year to date, 2.9% okay, that's true. february was lousy by the way, kelly, the 60-40 stock-bond portfolio up 2.7% this year. back to you. >> they'll take it bob, thank you very much now let's qget to rick santelli in chicago where the ten-year yield giving us some headlines, rick, above 4%

>> yes it's all about tens, tens, tens today. looking at intraday chart, basically we're coming back for a second bite of that 4% level but really it's taken them quite a while. let's look at a two-week chart we've been very slow trying to climb up on the longer dated treasuries just consider this that's a two-week chart. just in one week alone the twos to tens spread has basically gone from minus 77 to minus 90 which means two-years outpace ten-years on the yields to the outside by 13 basis points now, as you look at the last time we closed at 4%, it was the 9th of november. but if you zoom back farther the more important area is in october. october 24th, to be exact. where we closed at 4.24. because getting closer to that's important. kelly talked earlier, she's hearing a lot about stagflation. well, of course it makes sense we're moving much more slowly upward in yield on the long end, as evident by the spreads, and

the inflationary pressures are giving way to the slowness in the economy. that tug of war is stagflation and finally october fed fund futures is a new fulcrum at 94535 another new low contract close. that's six basis points lower than yesterdays. as twos and fed funds are running hand in hand kelly, back to you >> rick, thank you very much rick santelli. now, oil's slightly lower again today after inventory data it's been persistently working for the bears. pippa stevens joins us now >> yep and we saw another week of build. the 11th straight week of u.s. inventory builds with the stockpile now highest since may of 2021. part of this is thanks to refinery maintenance that does bring down utilization rates which impacts demand for crude. a little higher now but quite in a tight range today. >> the headlines are all about first solar. wow, what i a move there >> yeah. it is surging at the highest

since may 2009 this follows their q4 report he had beat estimates on both the top and bottom line. but i really think it is the guidance here that's driving the stock. up 14% right now they see full-year 2023 eps now between $7 and $8. that was against forecasts of 475. and a lot of that momentum is directly because of the i.r.a. and those tax credits. and right now first solar is basically the only domestic manufacturer of panels at any type of scale. so they are the clear winner in this post-i.r.a. push. but the stock is up 150% in the last year. you've got to wonder, is it a little bit stretched >> well, at least it's defied the narrative of everything else, which was peak in late 2021 and then collapse 70% this is a better narrative pippa, thanks very much. pippa stevens. >> let's get to dominick chu meantime for a cnbc news update. >> good afternoon, tyler good afternoon, kelly. police in tel aviv fired stun grenades and arrested protesters participating in what opponents

of a planned judicial overhaul called a nationwide day of disruption now, israeli prime minister benjamin netanyahu, who is being tried on corruption charges, says judges have become too powerful opponents say that if he succeeds in limiting the supreme court's ability to strike down legislation the country will no longer be a democracy. democratic senator jon tester says he will join joe manchin and vote for a gop resolution that would reverse a biden administration rule allowing employee retirement plans to consider environmental, social, and corporate governance, esg factors, when evaluating investments that makes its passage more likely in a vote later on today. but president biden is promising a vote veto. and staying with politics vice president harris cast her 29th, 29th tie-breaking vote today allowing the senate to confirm a judicial nominee she is now tied with john adams for the second largest number of tiebreaks settled in the

country's history as vice president. it begs the question, tyler, kelly, who is number one that distinction goes to john c. calhoun, who was vice president from 1825 to 1832 under two different presidents, john quincy adams and andrew jackson. he cast 31 tie-breaking votes, guys back over to you >> that is good trivia, dom. thank you very much. >> you got it. >> appreciate it ahead on "power lunch," putting the instacart before the horse after missteps, delays, valuation cuts instacart gearing up for its ipo again will the company's debut open the door to other tech companies looking to go public we will discuss at itoy'thn das tech check

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all right, folks, time for today's tech check and for that we head out west to deidra bosa. hi, deidra >> hey, tyler, hey, kelly. the ipo market remains frozen shut but the key may lie with one company, instacart, a company

that for the last few years has become almost synonymous with the ipo pipeline will they or won't they. this is a question investors and the company itself has gone back and forth on for ages. well, it seems that the financials are lying up according to the journal revenue and profit from 50% to 80% respectively in the fourth quarter it was also gap profitable as good an ipo candidate as any. right? maybe financials is one piece of the puzzle market volatility is the other and that is certainly less clear. here's what ceo fiji simmo told me a year ago. >> we want to be a public company at some point. the market conditions are obviously a factor but given that we have a very strong business and not a need to raise a lot of money, these market conditions are not affecting us and affecting our timing particularly. >> like i said, that was a year ago and she could pretty much say the exact same thing today not much has changed instacart still may not need to raise a lot of moirngs but its employees, they would like to get paid and that remains tricky

when investors are still iffy on risky companies, especially in the gig economy space that were built during an era of low interest rates and growth at all costs mentality. while instacart, one of the most valuable start-ups in the world it once was, it has now slashed its internal valuation several times. its public comps too, take a look, doordash, uber, lyft, they do not make a compelling case to go public here, still trading well under their ipo prices. still, though, instacart may try its luck and it's likely to get out ahead of other candidates we talk about, kelly and tyler, like stripe and reddit because it is at least releasing these financials in some form to its investors. >> so did i hear you right that if you were to compare it to some of its peer groups it wouldn't compare particularly favorably? >> it would now. this is an internal valuation known as a 409a. so usually when you do a funding round you get a new valuation. instacart is taking this upon themselves and marking it down because it's looking at the their public comps doo

doordash, uber, lyft, they see how much they've fallen in the public market. so they say okay, our previous high valuation, the private market, they can no longer justify that >> what does your instinct tell you? do you think they will go public over the next 12 months or not what's your guess? >> i think they've got to. they've already filed confidentially and then they pulled that. so we know there's a real desire we know that every time fidjie speaks to her workforce it's a question that constantly comes up this is one of the oldest uni unicorns, tyler. it's been private for more than ten years. so it's got to go. they talk about it a lot like stripe is is another unicorn that's been private forever. they seem to be pushing it off more so than an instacart. so we'll see if conditions work out for them if they don't they can do a direct listing they don't, like i said, need to raise capital. they just need to create a liquidity event. >> we'll finally get an ipo headline >> yeah, maybe we'll find out. deirdre, thanks so much, good to see you as always. >> let's he get some breaking news on that glaxo vaccine for rsv. meg tirrell is back. meg?

>> hey, kelly. well, the fda's panel of outside advisers on vaccines voting in favor of gsk's vaccine for older adults, 60 plus. the vote for the safety backing up this vaccine was 10-2 and the vote in terms of its effectiveness was unanimous. all 12 members of this committee voting positively on this vaccine. the fda itself is expected to make a decision both on gsk's rsv vaccine and pfizer's rsv vaccine by may yesterday they voted in favor of pfizer's vaccine that vote was 7-4 with one abstention with both of these vaccines they have focused in on the safety, wondering whether there are some risks of something goen as guillaume barr syndrome as well as the safety of co-administering vaccines with flu or covid vaccines. they want to see data on all of that and they're saying we want to see more date p. they're pointing out we're not in a covid situation where this is an emergency use authorization, this is full approval we'll see what they do in may but it's fair point out gsk and pfizer while they're the front-runners are not the only

ones moderna is also working on an rsv vaccine. it's a little farther behind in terms of the regulatory process. you are seeing that stock down a little more than the others the past couple of days. there are some questions of course about its ongoing covid revenue but also perhaps what the market ends up looking like in rsv in adults guys, back to ou >> meg, real quickly, is there a reason why they're approving it for adults is that because they want to do it for adults first and then kids i would assume most people want it for their kids, you know, to keep them safe >> yeah. absolutely well, they are starting in adults and typically kids, unfortunately, do come later in the development process because you have to be so careful with safety of testing things in children and rsv is a particular case because a very long time ago there was a safety risk with some old vaccines they were testing in rsv in children and so that's kind of a legacy that's stretched on in rsv, so they're especially careful but those are coming as well >> very good to know meg, thank you for everything. meg tirrell. after the break cnbc's annual women at work survey with momentum finding women arend uer pressure and eager for better

opportunities. we've got the results next

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women at the executive level are leaving jobs more than ever before julia boorstin has more. are they choosing to go, julia, or being forced? >> well, here's the thing, kelly. women are under pressure, and they say they are eager for better opportunities this is according to the new momentive/cnbc women at work survey it found that 1/3 of women say they've either left their job in the past year or they are considering leaving their jobs and nearly half of all women who have left their jobs say they did so for better work-life balance. now, stress and the need for work-life balance are also key issues for the women who are right now considering leaving their jobs but the top reason women say they're considering leaving is actually higher pay. over half of the women surveyed citing that as the key reason that they're thinking about leaving their jobs now, an uncertain economy may also be contributing to worker burnout. 27% of women say they've worked longer hours 17% have delayed taking time off

because of that uncertain economy. and with so much work and research on how women at the vp level and above have left their jobs in record numbers, according to that mckinsey lean in study, the results of this momentive/cnbc study offer key insight into why women are making those decisions and kelly, you can find a lot more on this survey on cnbc.com. >> it's just funny because you sort of think from the premise that it's going be to be about their families, it's going to be about -- but they're like no, we're leaving for higher pay >> yeah. it's absolutely important to look at the additional factors that economic uncertainty are adding to the decisions that women are making right now and often it seems like leaving and going to another company is a better way to get a higher salary rather than pushing for promotion internally >> anything else, julia, you think employers should take away from this? >> yeah, i think it's really interesting right now to look at the particular results of the impact that the overturning of roe v. wade has had on women's

decisions about what types of companies they want to work for. and interestingly, nearly a quarter of the women polled said that they -- nearly a quarter of women workers say they will not work in a state that dramatically limits abortion access and what's really notable here, kelly, is that younger women are even more likely to say that and women earning $100,000 or more so those high earners are more likely to say that they will not work in a state that bans access to abortion. so that certainly is something that companies are keeping an eye on and thinking about as they think about how this new legislation is impacting their workforce >> all right julia boorstin, thank you. join women in wealth, a cnbc your money event, on april 11th to explore more ways women can increase their income, save for the future and make the most of current opportunities. cnbcevents.com to register for that virtual event >> really interesting findings there across the board very interesting a salesforce to be reckoned with the company electing a slate of directors in its activist fight.

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welcome back time for today's "three-stock lunch," and we're tracking three names around earnings.

salesforce reports after the bell the stock still down 50% from the all-time highs best buy is on deck for tomorrow morning with retailers painting a mixed picture this earnings season they've slid 9% in the past month. and first solar, this one reported a smaller than expected loss, strong guidance, the shares surging 13% let's bring in our guest quint are you a buyer of salesforce? >> i am not, kelly, at all the stock is still too rich. it's great elliott is involved, but we really have to see how they're going to turn this thing around it's still trading rich, 28 times former, drawing the eps 18%. i want to see what they say about margins, cloud growth, all those things tonight but until i really see an actual turnaround in how they're going to navigate the future, it's just not a stock i want to be in on here. >> all right by the way, marc benioff is on

"mad money" tonight. quint, the next one is best buy, which is out tomorrow to. >> this is a tricky one because by all metrics you would say it's attractive, but i'm calling it a value trap, 12 times forward, decent balance sheet. the problem is that they're expected to earn about $6 a share this coming year, but $3.52 of that is going to dividends, which basically means they don't have all that much, less than a 50% payout or retention to, you know, turn the business around and keep reinvesting. and also we're hearing from more and more retailers that the consumer is starting to soft an bit. so this is a name that, even though it looks cheap and it has a decent balance sheet, it's still a no-touch for me. >> no touch. all right. a no and a no. so, what about first solar,

quint? does this one have you interested >> i wish we would have done this yesterday because i'm going to talk about my book and people won't believe me, but we are long first solar and have been for a very long time it's nice to see this one shine. they obviously, as you mentioned, had a nice eps beat revenues were in line. the guidance was strong. they're set to earn almost $5 a share next year. they have a strong book value. they've been an unbelievable compounder this one from a technical perspective breaking out of a decade-long base i think this name is a winner, is a new leader over time, as is many of the solar names out there are very attractive to us. i would not chase it here, but look for a pullback, it will come, and that will provide a better entry point >> quint tetro, thank you. we appreciate it >> thank you all >> "three-stock lunch. a shocking number of people get caught up in investment scams and other kinds of fraud how much money is it costing

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we've all heard these investment scams new numbers out today showing how much fraud is costing people dom chu is putting that "under the microscope." >> a ton of money. this is new data from the federal trade commission so they track the number and the dollar amount of all the fraud claims in america right now and this past year, it hit a staggering, get this, $8.8

billion lost in terms of total fraud. that's the dollar amount that's up 44% from the same time in 2021. a lot more dollar amount the biggest types of scams, people are losing the most money when it comes to certain types of things. investment-related fraud, $3.8 billion coming in with the biggest in terps of dollar losses impostor-type scams where somebody tries to impersonate somebody else to try to get you to give them their money that comes in at about $2.7 billion. what's curious about this, i'll show you a chart, the total number of instances of fraud across all different kinds actually dropped off last year the dollar amount went up, but the number of cases went down. but check out this we were on a pretty steady trajectory from about 2001 to about 2015, 2017 everything gets more over time, but at the very end, can you figure out what that was

that was the covid pandemic. that was when the most number of cases ticked up higher keep an eye on what's happening there. there are ways to prevent it go to our web site, scnbc.com we have tips on how to avoid this >> are these online? >> could be. cryptocurrency and bank transfers are the way people lose that money. >> dom, than very much thank you for watching "power lunch. >> "closing bell" starts right now. >> thanks so much. welcome to "closing bell." i'm scott wapner key events today tesla is highly anticipated investor day, and earnings from dow components salesforce amidst a flurry of activist activity and questions about that company's road ahead, both less than 60 minutes away now we'll debate the future of value investing. what david einhorn told me how it could impact where you put your money in the years ahead.