hit's just right for my little business. business unlimited. unlimited premium data. unlimited hotspot data. (woman 2) you know it's from the most reliable 5g network in america? (vo) when it comes to your business, not all bars are created equal. so switch to verizon business unlimited today. good afternoon, everybody. welcome to "power lunch. alongside kelly evans i'm tyler mathisen coming up, banks and beyond. financials the focus for global markets this week. two other groups making interests moves. break down big tech and the void. plus, investors eyes wide open the svb collapse revealing major flaws in boonking and corporate america looks for more potential problem spots. struggling ending the week dow's down 304 nasdaq down 0.4% and get to

kristina partsnevelos for a look at that. biggest laggard, financials. >> stocks continueding a slide lower. erasing yesterday's the rally. zoom out on the week, dow is flat right now nasdaq up a little over 4% on the week actually outperformed the s&p 500 for 11 straight days speaking of the s&p 500, still higher than its level at monday's open. at 3835. still higher at the moment financials kelly mentioned, who's next what is a bank failure and what is too big to fail names like comerica, u.s. bancorp, roughly between 6.5 to 8% lower first republic suffering from worst week ever and heavy

trading volume today, too on a friday stock down almost 24%. same credit concerns and demand slowdown concerns hitting alternative energy names, and phase energy down 8% at the moment solar edge down 6% lastly, commercial office reits selling off a second day in a row. triple whammy of concerns, rate hikes strong work f home woes and sl green hitting 52-week lows. >> thanks very much. beyond the bank weakness you saw in kristina's report, technology holding up better than most groups xlk tech etf up 6% over the past week and steve kovac has more. >> such a big week for big tech. look at the nasdaq 100 qs versus s&p. both up 6% s&p only a half percent so far week-to-date nasdaq 100, by the way, outperformed the s&p 500 for 11

straight days. now, over individual big tech names this week. microsoft up 12% meta up 10%. alphabet 12% amazon 9%. then smaller caps. cloud and soft ware names for you. salesforce up 7.5% on the week and adobe a whopping per9% it's was a bad year for big tech since the move towards cost-cutting, layoffs and other efficiencies seen boosts in these names for example, earlier in the week saw meta lay off 11,000 people stock reacting well to that. one hand, the names look safe now amid volatility handing investors what they wanted over the last several months. many names especially microsoft also tock picks for the year from many analyst firms, and more recently, a better chance now after the banking crisis we saw this week that the fed will slow down on raising rates

that's similar to we saw over the last week and a half by the way, it's a good environment for tech when interest rates don't go up bullishness behind this. >> and whether or not tech holds strong could depend on next week's big fed decision. the take with jessica, director of product at options play jessica, welcome good's to have you with us what have charts been telling you? i assume you agree with the hypothesis stephen basically hinted at there. that a slower pace of rate hikes or no rate hike is good news for tech shares? >> certainly i think a lot of that really goes into the macro headwinds we're facing and had to be cognizant of it's a well ai hike, certainly get to, fueling that tech rally. what i'm paying attention to is how themarket reacted throughout various bear markets. history told us the declining or

lagging sector tends to lead the decline. also leads the rally that's also seen true throughout bear market rallies. that, of course, for this bear market rally, has been tech. look at the weekly chart of the s&p 500 or utilize the nasdaq 100 at a proxy for the tech sector you notice that the tech sector actually peaked on november 22nd well before the peak of the broader s&p 500 in january. then the same holds true with the -- i've noticed paid a lot of attention to the 200 weekly moving average that is an extremely important support zone that was breached by the nasdaq 100 prior to the s&p 500 so peak to trough, nasdaq is serving, nasdaq 100, as leading indicator, anyways, for that bullish momentum something i'm really paying attention to. >> that, nasdaq 100, troughed before the s&p 500 troughed back in october

right? >> that's, that is correct yes. troughed in september. >> and that suggests what to you? >> that suggests it's leading, because that certainly makes sense. we're feeling the lag effects of the rescriptive fed policy and taking time to go through economic data but an acute impact on tech first we saw initially lack of ipos. it trickled down into structure on profit margins requiring cash to innovate. an accelerating increasingly hard to borrow rate. fastest in history the company hs to protect their profit margins we saw layoffs helping with that and now collapse of silicon valley bank which is arguing, perhaps, a pause or a slower rate hike may be necessary we'll see what happens i think a lot hangs on that. but the market is reacting tech perspective, to a less restrictive policy and that certainly makes sense. >> you want the nasdaq abonk the

100 day and s&p above 200 day to arisk new lows, jessica? >> absolutely. wonderful question, kelly. what we define a secular bull market pull a really larger chart of the market on a weekly level notice that the 200, s&p 500 or any security going above that 200 weekly moving average is extremely important. otherwise when you risk falling below that, that tends to what leads to strong capitulation moments. >> are you -- what is your spy sense tell you where it goes next does it depend or much depend on what happens next wednesday wit the fed? >> i think it's all related and put the puzzle together. fed chairman powell says labor market imbalance all too often the fed has a playbook from liquidity issues, and tools are definitely going to tackle

demand, but not supply's side, the constraints. labor market imbalance, too many job openings not muff people fed can't print people what can drive balance efficiencies, productivity gains. what says that better than artificial intelligence? where, yes i'd see risks and it is absolutely overhyped and careful timing markets and that major, but this growth play does actually solve a larger macro headwind contributing to the larger and broader inflationary problems my spidey sense says, powell what do do what the stock market saying now which is 25 basis points concerns me. i think perhaps have a pause and wait for the data to come in higher interest rates, higher risk of a bank run, but more importantly, what is he going to say? in a fed blackout period we don't know how he's interpreting this economic data activity and the market really hangs on understanding his feel. >> it is going to be a

fascinating week in that press conference, one of the, not to miss moments jessica, thank you very much appreciate it. >>. right here on "power lunch" wednesday, by the way. >> yes, indeedy. >> should we go to washington? anyway, struggling amid uncertainty and oil worst week since april. pippa stevens has numbers. looked getter yesterday now back at 66. >> yeah. that's right oil hitting a fresh 15-month low earlier today, before recovering some losses. still both wti and brent down more than 10% on the week. mup of this thanks to macro issues and continued banking foughtout injecting uncertainty into the market. options selling exacerbating prize rates and not helping matters is the recounting of released just now showing that producers added oil and gas rates for the first time in five weeks. two upcoming events that could impact oil is the fed meeting next week, of course as well as opec's meeting april 3rd. in the meantime, there doesn't

seem to be a positive catalyst that could change the price direction. that said, one wild card is the u.s. refilling the spr the administration previously said targeting 67 to $72 per barrel range, which oil is now below. energy stocks, worstgroup this week, down more than 7%. kelly? >> pippa, thank you. for more on energy and oil bring in sam margelin managing director at wolf research. happy st. patrick's day. good to have you here. >> you, too. >> what do we need to see here in the energy space, and i just think about how many investors must be caught wrong-footed here an ugly start. >> yeah. i mean, look energy's not defensive right now. okay banking crisis gets worse and turns into something more serious, oil's going lower i think that's something people have to keep in mind, but if you want to look through it and plan a recovery, one thing to point out is that there were signs of

oil demand getting better. right before svb consumer confidence high economic growth getting revised higher refining margins strong. that one thing that's very different between now and say 2008 in 2008 -- >> go ahead. >> margins going down for the year now stable so maybe the end market's healthier than what the price suggests. >> a structural difference or a cyclical one versus last time? >> structural. capacity is shrunk in '21and '22 first time in 4078 years nobody seen it before. supply is definitely a factor there. but, again if it was really a demand issue that was 2008-ish, you would see it in refining margins too, irare thei i respective where it was. >> and a complex of issues affecting energy and the economy right now will be an m & a wave. explain that who will be buyers and who will

be the sellers >> yeah, well, when energy companies do m & a mark assets they buy at oil price at that time >> ooh. >> so when oil's 100, you put a lot of assets on your balance sheet and you run the risk of impairments and have a high rate of depreciation. when you have a pullback like this, it's a much more accommodative environment to add assets energy companies constructive on the outlook this is the wind for them to deploy balance sheets. exxon and chevron paid down all debt over the past two years capacity is there. >> who would be targets? >> look at relative value. i think one that stands out on a comp sheet is occidental and again, like this is -- it's very speculative, but it's got a really high free cash flow yield bolts on easily. assets attractive. at the very least even if not a consolidation candidate a -- >> this is not an administration

that particularly likes bill oil. >> or m & a. >> would they stand in the way at that scale j one thing definitely raising red flags, company combine and reduced activity, actions after the fact somehow in con kconstrained supy i don't think it would happen in this case. m & a wave in this market probably put assets in stronger hands and make supply more stable in the long run. >> don't forget green lit the alaska project as well thought this was a much friendlier, or argue more supply comes online bullish or bearish, sam? >> well not for a while. if you can predict oil deand in 2027 when the project comes on, you can have my job. anyway, i do think that it was a sign that supply is top of mind, and the administration is focused on protecting consumers with more capacity. >> all right very good. can't predict it for tomorrow. kw couldn't tell you what it was

today. thank you for your time. appreciate it. more on today's market mama mo moves. and moving lower in the past few minutes down 411 points on the dow. up effnext, revealing red fg in the financial sector, but there are other areas. are there in corporate america that invto nesrseed to watch more carefully than they have been we'll be right back with more.

i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that?

you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. welcome back to "power

lunch. the collapse of silicon valley bank and challenges facing credit suisses forring investors to look at company's balance sheets figuring out what's going on behind the scenes this as u.s. bankruptcy filings hit a 12-year high in the first two months of this year. s&p global data. how can investors spot red flags before buying stocks got to ask herb greenberg editor with empire research and cnbc contributor. welcome. good to see you. >> great seeing you, kelly ssh >> is a time like this get you amped up to tear through balance sheets and the rest of it or do you feel you have a good handle on exposures throughout thrld as >> well, you always have to try to figure out where you may get hoodwinked the with i tend to look at it. in this case, i'm looking for, i start looking for stocks to avoid. i think that's the way you have to start doing this. i did a piece the other day. 1,000 stocks to avoid.

the reason i put that out there is there's -- certain things you can look at that are pretty simple there's this chart out there i don't know if you have the chart up interesting chart from a concept firm folks i know,friendly with something interesting. they talked about, in the russell 3000, there are 1,000 companies -- get this. a startling statistic -- 1,000 companies that either aren't making money or can't afford to pay their interest on the debt they currently have. now, if you're going to look at those 1,000 companies and stripped them away, didn't own them since 1989, the other 2,000 stock wos have way outperformed those stocks you always want to look for the companies just generally fundamentally stronger even though they may not be as sexy or exciting to follow and talk about, sometimes they're the ones that actually do better over the long term when looking at these things, right now the thing everybody is

look at. securities and bonds what is their bond port follow joe? companies basically that are cash strapped, and maybe they have to continue to borrow if they have maturities coming due now, that's not a good -- something you have to pay attention to especially if it's a large chunk. tyler, if it's a large chunk what they have. >> take 3,000 subject 1,000 still leaves me with 2,000 out there that presumably investable but then i'm sure, because what you do is, you can eliminate another large swath of them, and come down to ones that are truly meritorious. how do you do that and what names bubble up >> well -- excuse me i do it. i use actually a system that helps me weed out anything that looks earnings manipulation or looking for strongest quality of earnings looking for strongest balance

sheets i'm looking for anything where i can avoid getting tripped up so -- you know, there are companies out there. look some of them are just so obvious now. they're good ones. a company like a costco. right? look at a company like this, environment like this. people talkabout it all the time you talk about it. say, gosh. goodness, these guys are basically telling you, they're telling you, listen to their conference calls, that if all else goes wrong, they can pay a special dividend they generate so much cash you're looking for real companies that make real products or have real services, that make, that serve real people and have real profits and real cash flow costco has so much going on they can afford to pay a special dividend tell you they may do that. they're saying it. they could raise membership fees really could you're looking for the opportunities in an environment like this, but also looking for, for example, there's a bank i like a community bank who wants to talk about

community banks now? regional banks nobody i like this one company called triumph financial based in texas. small bank here's what you need to do with a bank like that take a look at the maturities or securities lay it out in their financial filings. they have, and compare to say silicon valley bank. it's night and day it's -- maturities are spread out across, you know, zero to five years and also a situation where, where the health and maturity securities are just a tiny bit of their entire portfolio. you can start, if looking at banks, always use silicon valley bank as a benchmark. and this bank does something different. more than just a bank. >> herb, broadser contest, i heard jim put it this way as well it's an important thing to back up and remember how we got here. how we got here, too much stimulus as a result, no the just stock prizes rising, not just

inflation rising had too much demand and too much demands creates what too many companies creating too many jobs. unfortunately, fun to be part of that on the up side. when it unwinds have to literally have fewer jobs fewer companies fewer all of this, yeah you can understand why the banking system's in cross hairs of that. what they do, help create new companies and support jobs if all of that -- >> ridiculous. >> of course -- testing to watch now. >> these are companies that -- >> don't know how to stop it. >> look. companies that shouldn't have become public, many of them. know the spacs look at the biotech sector companies funded never should have been funded in the biotech sector not that sthey shouldn't have access to capital. i was a guy doing short research at the period it was most painful. i walked away. couldn't take it anymore that was the moment. the moment you knew that the

fed, you would be writing about companies fundamental flaws, nobody cared nobody cared because stocks kept going up what are you doing wasting your time. that's -- those are the companies you look at. bank set risk section back then in 2020. >> hmm . >> in our reports. sbny, on that list for other reasons. you know again, you're laughed off the stage then now you have things you can look at they're there. you know, there are companies higher quality and lower quality. it's all in the fundamentals. >> makes sense ower-quality names across the entire universe of companies, banks, the rest of it, probably again who's most as risk. >> why would you buy them? that's the point. >> yeah. herb greenberg shorts are working now, i guess. great to have you back appreciate it. >> yes sure. herb also joins brian sullivan tonight oh "last call." send in questions meantime 7:00 p.m. eastern time.

>> good idea. still to come. the white house taking aim at tiktok more specifically at china how serious are the national security concerns? as we head to break check out the cybersecurity stocks most bucking the trend this week with crowdstrike leading the way up 11% we'll be right back. but to make it powerful enough to connect your data wherever it is, you need cdw and netapp. cdw experts will work with you to understand your needs, then customize a netapp cloud services solution to integrate data management for all your clouds, helping you reduce spend, improve security, control data 24/7 and automatically detect anomalies. in the cloud, at least. netapp makes efficient cloud management possible. cdw makes it powerful. conventional thinking delivers conventional results. at allspring, we break away with purpose. harnessing data-driven insights

and boundless curiosity. we dissect the market from every angle. helping to build portfolios that redefine what's possible. because investing isn't one size fits all. allspring. purposefully divergent. this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. i'm telling you, coach staley, i could really get used to this retirement thing. ahhh! coach k, there's a goat here. the story of my life. no coach, there is a goat here! whaaa! what's this? a thousand dollar hospital bill? but i have good health insurance! gaaaaaap! did you say 'gap'? he's talking about the expenses health insurance doesn't cover. but with aflac, you can get money to help close that gap.

aflac, huh? gaaaap! aflac! gaaaaap! get help with expenses health insurance doesn't cover at aflac. official partner of march madness. good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back. (swords clashing) td ameritrade. -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

welcome back, everybody. about 90 minutes a little more than that left in this little trading week and not many people will be sad to see it go. stocks around session lows right now. down 481 let's check in with bob pisani hi, bob. >> tyler, you know, it's hard to believe that all of this craziness, the s&p is up 1.3% this week, but i have -- can't remember when i've seen this kip kind of dispersion against big cap stocks down roughly 25% for the week and leaving out something small. stunning moves in just five days then look at the opposite.

what i mean when head-scratching dispersion tech stocks up five days in a row essentially. got big names like amd, alphabet, microsoft, nvidia, meta up double digits down 25% big banks, up 10%, 1 per11 percent 12%. and material stocks mosaic, nucor, big industrial names, all down reits getting hit rather seriously. so we have a major problem here. this is all in the fed's hands at this point. the bulls want to believe that on wednesday next week the federal reserve is going to declare some kind of dovish hike they're going to imply a pause they're going to say, we are making progress on inflation, and they're going to imply a pause due to some of the problems in the banking sector, and, guys if they don't do that i think we'll have serious problems in the market

odds of recession go up then. >> sirens are coming outside your -- your place there, bob. >> sorry about that. >> the market. >> they know about the market. >> coming to rescue. cpr! >> bob, richard it get to rick santelli out in chicago. checking bond action rick >> yes tell you what, it's been one crazy week just look at it. retired two-year note yield down over 70, 7-0 basis points on the week almost three quarters of 1%. fed fund futures up almost 100 basis points on the week and finally boons closed and tightens ecb 50 basis points and closed down 40 basis points. it's been wild go grab jason. jason, it has been a crazy week. what can you put on the tombstone this friday what's occurred monday through friday >> yeah. certainly a wild ride. if we go back to last week, all

but 50 basis points priced in almost as a certainty. add next week's fomc meeting and a large shock with the banks system with svb and now seems we don't know what -- >> everybody's talking don't do 25 it will be crazy people think they know more. i personally think that's crazy, if they do anything. what do you think about the vic, can't get over 30? >> people want to know if the fed put us back. may well be. at some point early this week a 0% rate, rate increasing priced in at, like, 50% >> if you had to pick now everybody on this trading floor your thought as conversation, 25 or 50 as things stand now? >> goes 50 still i think powell made inflation his biggest worry and 50 basis points keeps status quo. >> a lot with kristine --

christine lagarde's comments. >> a wild, wild week next week and rick, you'll be there for us all week long. appreciate it. have a great weekend, sir. go to contessa brewer for a cnbc news update. >> good afternoon to you nbc news is exclusively reporting law enforcement agencies are preparing for the possibility, former president donald trump could be indicted in new york as early as next week five senior officials familiar with the preparations tell nbc that security plans are discussed for the manhattan criminal court building in case trump travels to the city to face potential charges connected with alleged hush money payments to stormy daniels. the european union's top foreign affairs official said an international arrest warrant for vladimir putin for war crimes in, in his words, just the start of holding russia accountable for its crimes and atrocities in ukraine. theranos founder elizabeth holmes arrived in a california

courthouse today with her husband to ask a judge to pause her 11-year prison sentence while she asks an appeals court to review her fraud conviction we'll continue to watch that. >> contessa have a great weekend. contessa brewer. thank you. ahead on "power lunch," more on today's market reversal with the fed decision in focus next week i can't imagine a bigger fed meeting. could the markets be at the rsk of another sell-off? we talabk out that next. down 68 on the dow right now. i think it's very important that you spend your time wisely. and what better way of spending time than traveling, continuing to educate ourselves and broaden our minds? (woman vo) viking. exploring the world in comfort.

somewhere out there is that one-in-a-million. someone who thinks with their hands. who can shape raw materials into something meaningful. and who wants to serve in their own way. if you're out there. if you're looking for more. we're looking too. we're calling on a new generation of builders for navy's next-gen submarines. all across the country, people are working hard to build a better future. so we're hard at work helping them achieve financial freedom. we're proud to serve people everywhere, in investing for the retirement they envision. from the plains to the coasts, we help americans invest for their future. and help communities thrive.

welcome back to "power lunch," everybody. stocks back around session lows. the dow off 450 points or thereabouts. carnage in banks leading declines first republic down 25% now following a gain of 10% yesterday after a group of banks pledged $30 billion in deposits. that little relief rally didn't last long. bring in mark lasheeny chief investment manager good to have you with us i can't remember a week where stocks were up, where i felt so down explain to me why i feel that way. is it because we're still really

in a bear market >> well, i think it's partly that, tyler and has a lot to do with the schizophrenia in the market seeming to have on a day over day basis as you said. closed the week perhaps higher than trading now kind of flat-ish on a week over week basis but feels anything but. not only the fact we continue to be in the grips of a bear market obviously that started early last year, but as well the crosscurrents haven't abated at all. not the least of which obviously is the fed's ballots against inflation. on top of that now, additional anxieties introduced by way of the bank failures that have occurred with obviously legitimate worries that we haven't seen the last of them. so the collection of those items, variables, if you will, are only augmenting the risk embedded into stock prices to me that's feeding into sentiment which is begging a little reason why you're feeling unsettled about conditions

>> and popular simes accurate, cliches. the fed has a very tough needle to thread here how do you think they're going to do it next week >> great call on whatever we're going to see next week it's going to be the one that identifies precisely what the outcome will be. you can arguably made a case they could cause and on the other hand a blueprint laid down by christine lagarde, ecb. went ahead with an increase despite credit suisse's issues and other broader economic concerns in general. so i don't think we're necessarily going to see 50 basis points seems aggressive to me same time i think absence further volatility in the stock market probably most likely catalyzed by prospects of another sizable bank failure, then i think 25 basis points is a very real possibility, and i think markets would be less than welcoming that potential

outcome. the press release and summary of economic projections that accompany the meeting next week will be exceedingly important. >> trying to get excited to talk to you about stock picks, mark, but feels hard like tyler said. why do we feel bad on an up week why don't i feel more excited to talk about solar just, i don't know so much of this uncertainty hanging out there. make the case for me >> well, kelly, i think if you pull the lens back and think about the fact that these two stocks among many obviously are not going to be immune for volatility in the equities market solaredge tied more so in high data stock as well energy space hasn't performed well recently. and as well the health care space, but idiosyncratic, a business plan addressing basically companion care industry both have, i think, strong

schematic secular themes one buildout of energy sources spot-on with solaredge, they're trying to carve out a place for themselves in. and growing rapidly in that space regardless what's happening with share price on a day over day basis, and zoid oi zoefis growing, a service dog over a complementary cat or some other pet has blossomed the population of pets let alone obviously the need for caring for them over their seemingly increasingly extended lives. as a consequence we think it's a strong once again tailwind to not only zoetis and solar'and collectively things that can be bought, tucked away. not looking ats they necessarily priced at monday afternoon but necessarily monday three to five years from now. >> thank you for being my

therapist. you charge a lot less, too appreciate it. >> you're welcome, tyler anytime. >> you bet. still ahead, three new buy calls on stocks 20% or more off highs. a green light to invest or a red flag we'll ask our trader in "free we'll ask our trader in "free stock lunch. take control of your financial future to empower what's next. ♪♪ ♪ a bunch of dead guys made up work, way back when. ♪ ♪ it's our turn now we'll make it up again. ♪ ♪ we'll build freelance teams with more agility. ♪ ♪ the old way of working is deader than me. ♪ ♪ we'll scale up, and we'll scale down ♪ ♪ before you're six feet underground. ♪ ♪ yes, this is how, this is how we work now. ♪

♪♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation.

lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business.

all righty welcome back to "power lunch," everybody. a week of turbulence at silicon valley's bank's collapse and announcements with microsoft and google, and artificial intelligence jon fortt brings us up close with a silicon valley founder with a deeper spective on all. >> quite deep. co-founder of sunshine, artificial intelligence start-up working first to sip pla phi digital commerce before that number 20 and g google, a top executive engineered that company the growth spoke with her yesterday about the lessons from silicon valley bank and diversified where sunshine keeps its cash those it

wasn't with svb and a race for leadership saying you shouldn't count google out of meaning microsoft would take disciplined product management and google has experience with that >> i remember when i hire sunar not sure what to assign you to look over consumer products my team is working on he came back and there's a thing called global toolbar with 200 million user there's no one product managing it good point why don't you work on that and toolbar gave rice to chrome and emerging android operating system, and sunar a brilliant hire a giant product, hundreds of millions of users that wasn't being actively product managed. >> promote that guy, sunar and six years, gone back to roots in artificial intelligence, which was the focus of her graduate work at

stanford before she joined google with sunshine, the idea for ai to sit through email and contact and piece together information eliminating duplicate entries, corrects misspellings add content information from emails. >> sunshine we founded, the principle that we wanted to take mundane and make it effortless an worked really hard on our contact solution for us contacts are the foundation of relationships. the fact sometimes you go to call someone on your phone and the phone number's not there even though you emailed them yesterday. right? like, wait i know this colleague and spoke with her just typed into my phone and didn't know how to spell their last name and guessed. those types of things. if we can help people clean those up, make contacts for everyone contacts are a mess. talked to thinks of people everyone's are a mess. it's a probable, a big problem here in plain sight. if we can clean those things up, help, then we can go on to build more effective groups, more

effective events, sharing. among small circles of people. >> economic with sunshine. people wringing hands talking about silicon valley downgraded from this banking crisis i'm seeing a familiar pattern. experienced xexecutives and othr former salesforce ceo bret taylor back tolt lab to invent the next big things. this time on top of ai back to being start-up companies. >> i stipulate my contacts are a mess >> same. >> exist on several platforms. on my cell phone. >> same. >> in outlook. in my linkedin does her product run over top of all of these things to rationalize my contacts? does she sell the product to me? the consumer or to linkedin and microsofts and so forth. >> to primary thing, reaches into your apps

same person? where are they now, and linked in to gmail and find email addresses that have phone numbers atoo muched to them. is this a contact? put these together things like that older the contact is, i find, the more messed up it is. >> yeah. abso absolutely i have old -- numbers for friends who worked at a former place. we both worked doesn't exist anymore. so it's still there. but at any rate, i have to do work here. it's not that i -- i have to -- >> do a little work. ai does a little work pap work in progress. >> does the giver too much access to personal information between gmail or contacts, that. did she address that >> didn't talk about specific ways it works. a very good question are these contacts stored in the cloud? it appears rationalizing this on the client device as opposed to your contacts. good question. >> and hired sunar -- >> hired -- sort of like --

>> impressive. >> so many entrepreneurs in the silicon valley drop it box. bringing those folks together since at google. >> golden touch in that regard for sure. trading three bold calls of the day in tayod's "three stock lunch" and dow is down 483. o♪ ♪ something you can have and hold. ♪ ♪ i'd build a road in gold just to have some dreaming, ♪ ♪ dreaming is free. ♪ accenture, let there be change. fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one.

cool, right? anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com

welcome back, everybody. >> it's time for three stock lunch and two of the names are in the green all three are moving on bold analyst calls with shrubb lower, and warner brothers discovery upgraded at wells fargo and bumble is initiated by citi as a bichlt here to trade all three is the founder and president of nations indexes. good to see you, scott on a day like this, insurance seems to be a bright spot. why the down move today? would you be a buyer >> i would absolutely be a buyer on the jpmorgan upgrade. the valuation is getting better today. down 15% year to date. 11% for the month. so we get to buy it at a relative bargain much of this is because of disappointing q4 earnings but a

great franchise with an even greater customer mix and now the forward p/e is just barely 10.5. so you get to buy a great company below the industry average p s/e. >> let's go to warner brothers discovery, a problem child over the last couple of years, or the past year, and then a big comeback there what do you think is next for this stock >> this is also a buy but it is a much riskier buy, loising money, expected to lose 47 cents this year. the bullish part is they will make it up on synergy and derisking and mike it up on content. for example, they want to derisk by paying down debt. they also want to exit the regional sports channel business that all makes a lot of sense. they want to increase free cash flow but who doesn't? so this's lots of upside lots of upside particularly with the new streaming service. but this are also a number of execution risks so if you like the thesis, if it makes sense to you, then it's a buy, but it's a

risky buy. >> bumble, what about this one, scott? >> this is a hold for me it's a dating service, the fact that they're profitable is impressive, they have a unique hook in that women make the first move i've been oust dating pool for a long time so i'll leave it to others to determine whether or not that point of differentiation is going to carry the day. they're going to have to continue to invest a ton of money in the business. they expect eps to increase 200% this year which is great but they have to invest in the business that trails off in the future. that slows down. if you like that hook, that point of differentiation, then it's a buy but for me, it's a hold. >> if he was in the dating pool, the systems would crash at bumble that's what's going to happen. >> i'll tell my wife that. >> all right >> scott, thank you, sir have a great weekend. still ahead, the white house may be worried about tiktok but google is warning china has other ways to evade even the best cybersecurity tools

we head to the break, note the dow is around session lows briefly dipping below 500 points negative earlier today we will be right back. it'soi t gngo be a 60 minutes you're not going to want to you're not going to want to misso-use tools like lp make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with powerful, easy-to-use tools power e*trade makes complex trading easier react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity you love closing a deal. but hate managing your business from afar. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description.

visit indeed.com/hire

one more thing before we go. the white house is taking aim at

tiktok who hasn't been lately threatening a u.s. boon because of security concerns -- a u.s. ban because of security concerns from china but google warns it runs deeper than that the tech giant claiming beijing has stealthy ways to evade even the best government and cybersecurity. we have more from washington what are they pointing to here, amin >> what they're saying, this is the unit inside google, they're well known as a stand alone company, well known inside google, led by charles carmichael on this project and they're very good. and what they're saying here is they have spotted a series of apparent chinese cyber attacks that are going after things on the edges of typical networks, like cisco systems and the like, even the fire walls on the edge of networks, and sort of combines a couple of things that we've known about in cybersecurity for a long time. one is this idea of a supply chain attack, right? if your target is here, you find the contractors and subcontractors and sub-subcontractors, to find the vulnerability and hit there, to

get up to your initial target. and also this idea of sort of lying in wait, where you put malware in mace and leave it there until you need it at some future point in time tbd so this seems to have elements of both. >> are the chinese then using tools that our best cyber defenses aren't able to defend against? >> well, they're not able to stop at least some of this from happening. but they're also not able to stop google's team here from discovering it, right? so it's this endless, you know, cat and mouse game of malware goes in, defenders find it, attackers find new ways to put malware in, a never-ending cycle. no way of defeating this entirely. >> what are steps to be able to work thue it as we get more serious about these vulnerables? >> that's a really good question the one thing you might want to do is make sure you have redundancy plans, so if do you lose some systems, if there are attacks that are successful, that you have the ability to recover. a lot of this is sort of, you

know, in military terms left of boom, stuff do you to protect the attack, before the attack and right of boom is stuff do you to recover so a lot of what companies need to be thinking about is the recovery phase here. if this is something that goes wrong in your systems, how do you recover, reboot, and redeploy your systems? that kind of thinking is definitely going on. >> tiktok's ceo will testify on capitol hill next week is it mostly going to be performance? or will anything really come out of it? >> well, i mean it's going to be a performance with huge stake, right? i mean the question is whether or not the administration is going to come down in some way and ban tiktok, and figure out a way either legislative on capitol hill or through executive rule making to ban tiktok across the country. this is enormous financial stakes this. 's enormous national security stakes and this are enormous political stakes in there, baut because this are millions and millions of users of that service in the united states who will be yip set -- upset if it is banned and a political backlash that the

administration may not want want to face. >> eamon, thanks he has a long afternoon ahead, anchoring the "taking stock" special tonight at 6:00 p.m. eastern time don't miss it. what a week it has been. what a week ahead. get some rest. you will need it in the weeks and months to come, i think. >> absolutely. thanks for watching "power lunch," everybody. have a good weekend. >> "closing bell" starts right now. and welcome to "closing bell." i'm mike santoli in for scott wapner we're live at the new york stock exchange this. make or break hour begins with the stock sell involve, picking up some steam, returning down to the lose of the morning in the s&p 500. as investors continue stressing out over the banks ank despite surrounding financial stability, pressing bank stocks further, tracking down the broader s&p 500, which is trying to hang on to a small gain for the week. and this is our talk of the tape what does this all mean for the economy, the fed, ahead of next week ease rate hike decision let's talk about all of that, we ar