domino's. welcome to "power lunch. alongside kelly evans i'm dominic chu. we have google shares falling today after a downgrade. the stock and many others have gained big this year on hopes for artificial intelligence but we'll talk to the analyst who says the transition to a.i. and search will have growing pains plus, new developments in the battle over weight loss drugs. promise for eli lilly and a

setback for pfizer we have those stories. >> can't wait for that let's get a check on the markets as stocks turned lower mid-morning. the nasdaq the under performer down 116 points with declines from tesla and nvidia. the dow up by 3 as it might turn negative the s&p down 11 po 4336. on tesla the analyst downgrades it to hold from buy at goldman today. they did raise the price target to 245 where we are now. this is a valuation move similar to what morgan stanley said in his downgrade last week. the shares as i mention ready down 4.5%. the stock has doubled this year. and dom mentioned the weight loss drugs, pfizer shares lower after a setback for its oral candidate. eli lilly, known for its candidate more broadly i should say, 4% drop, while eli lilly shares are down despite optimism over a pill compared to the injections on the market we will dive into this area coming up. check out the biotech mover,

soaring 67% on positive results for a drug to treat a skin condition while fibrogen down 82% as the drug for lung disease performed poorly in a trial. the situation in russia following a weekend ofchaos, attempted coup led by putin's former ally ended by a failure for here with more on what's next for putin and russia and the impact across the world is mike mcfaul, former u.s. ambassador to russia and nbc news and msnbc international affairs analyst. great to see you, ambassador your thoughts this afternoon as we continue to watch these events play out? >> well, i think putin had one of his worst weekends ever, probably his worst weekend ever as president this is a first direct challenge to his authority since 2011 when there were mass uprising from a democratic peaceful demonstrations this was from a thug that he himself created that wanted to

not replace putin but his military and mobilize soldiers to march to moscow and eventually they resolved the conflict, played chicken and both backed down it makes putin look weak among his people, among his commanders, around the world this has been a tough week -- a tough couple days for him. >> how does he react and what happens next >> well, i think what will be interesting to watch what were the contours of the deal that he did with mr. prigozhin, the leader of this mutiny. allegedly he's going to go to belarus and retire there, and allegedly, his fighting mercenaries are going to sign contracts and join the russian armed forces, but i'm skeptical about both i'm not sure putin can afford to allow this guy who has become very popular all of a sudden, to sit in belarus and remain quiet. i suspect there will be

something more that will be done with mr. prigozhin i'm not optimistic these mercenaries will join the russian armed forces prigozhin criticized the top generals saying they're not fighting the war the right way in ukraine they deceived the population for why they needed this war what i'm really wondering about is what is the morale among those russian soldiers right now deployed in the ukraine? if you're fighting for your life, for your country, and you look back home and you see your commanders fighting amongst each other, that's not going to be good for morale in the trenches inside ukraine. >> ambassador, it's dom. one of the other ripple effects that we're trying to follow through, you mentioned some of them closer to ukraine i wonder what this situation does for russia, and its allies? we heard china make some public comments that this is an internal issue for russia, trying to distance themselves from it. how does this tilt or upset the balance for the region for

russia, and how exactly does this make putin look in terms of where his future goes with those allies >> i think publicly, you're going to see statements of support, as you already saw, from china, from iran, other places will do that formally but i think privately, what's going on is doubt about whether putin is the strong leader that they thought he was to be, in particular, i think xi jinping has to wonder, was it such a strategic bet to become so close to this guy who now is struggling to stay in power, and remember, the chinese going all the way back to the collapse of the soviet union in 1991, the number one thing they want is stability in russia. right now it's an unstable time and i suspect that's creating doubts about whether this was a good idea. it doesn't mean they're going to throw putin under the bus but maybe put pressure on putin to get out of ukraine because after

all, this crisis was created by the war in ukraine and the longer that war goes on, the more likelihood that there will be other destabilizing events inside russia. >> should ukraine press its advantage? it seems all of this is taking a hawkish turn within russia if prigozhin is pushing for a much more successful war on ukraine, and it seems that that must be pushing putin to try and bring this to more of a victory or something that looks like it for russia >> well, i have no doubt in my mind putin would love to bring it to victory. i just don't see any means that he has available to do that. so much talk about he's going to escalate, he's around the corner, going to double down number one, i've never seen the evidence that he has the automobile to escalate but number two, think about what we just witnessed over the weekend. putin had the chance to double down and escalate against somebody he declared on national

tv was a traitor, but when push came to shove he didn't escalate, he negotiated with the traitor because he was worried about the fight, the more dire consequences, of escalating. i think that may be an important lesson for all of us to understand, as we think about what putin might do if he begins to lose in ukraine everybody assumes he's going to fight to the end i'm not so sure that that's true. >> all right we'll leave it there i don't want to call it a hopeful note, but, you know, certainly one that gives us a glimpse of a layout of this. michael mcfaul, thanks for your time today. >> thanks for having me. despite the potentially dire outcomes of the situation in russia, markets seem to be shaking it off stocks are lower but the losses are relatively small by comparison so let's bring in stephanie link, chief investment strategist at high tower and cnbc contributor the ambassador comments were telling. i think that this is very much a situation that still has another

chapter or two or three. why are the markets so calm, if i can use that word, about the geopolitical issues happening with nuclear powers? >> well, i mean, anything could happen for sure, right, but for now, it looks like it is a nonevent in the short term, so what are we, as investors, to do we go back to focussing on fundamentals while everybody is obsessed about the recession that's about to come, and the inverted yield curve, the economy actually has hung in there pretty well. the last couple of weeks worth of data it suggests that you're running a gdp level at 2%. that's not recession, not now for sure, and it's led by the consumer the consumer is 70% of the economy of gdp and they're being helped by what we've been talking about for a couple years now, better jobs and now real income is actually starting to go higher because inflation is coming down. right. you've seen a better than

expected retail sales number couple weeks ago housing is absolutely on the mend the best new home sales in over a year autos is also -- has also picked up and services. we have the pmi services number last week that were above 50 that's a big part of the economy, and it's an important part manufacturing well that's not the great part of the economy. if you talk to companies and not look at the big government data that comes out, actually hear a lot of momentum on the onshoring side of the equation you have to pick your spots within manufacturing, but it's not all dire add it up, gdp is hanging in there. i think earnings are going to hang in there, they may not be great, but i think they will do better than expected and i think that's what people are focusing on at this point. >> how do you reconcile the data and the markets? you reeled off a lot of bullish or relatively bullish economic data that seems to support this idea that things are okay. at the same time, parts of the interest rate complex and certainly the commodity markets are showing signs that

recessions are something to be feared so where do then investors position themselves between those two forces on either side? >> i mean look, within the manufacturing part of the economy and the commodities it is mixed i'm not painting a rosy picture, but if you look at the pmis on the manufacturing side, they've been down below 50 the last six months we kind of know that things have slowed down. that being said, some of the regional manufacturing series are actually getting a little bit better they're still not great, but they're getting a little bit better my suggestion is perhaps we're getting close to the trough in the pmis listen to what companies have to say there are certain pockets within the industrials and energy and commodities complex that are doing just fine there's no doubt the commodities are pricing in or concerned about a recession and a global recession. that's why i really pay attention to a lot of the various different data points and we're not off to the races but we're at least right now not

a recession. i'm looking for fundamentals, good companies doing great things and especially what's interesting today, dom, is all the laggards year to date are actually out performing versus the leaders which we know has been technology. >> absolutely. and i have to begrudgingly acknowledge things like the late leading indicators have been so bad it's getting worrisome we've been down 14 straight months year on year. usually we're in recession by month 12 we're not there yet. it might sob bad it starts to get better i just want to dwell briefly on the deal you're highlighting it, ibm. why do you think this is sn important? >> ibm has lagged year to date, a lot has to do with the growth versus value in the sector and in jen until the markets, but i do think it's a big deal, kelly, because the company is transitioning and a transition takes a long time. away from the legacy businesses,

he's focusing on, the ceo, focusing on growth he's focusing on cloud, services recurring revenue. he has made year to date very quietly six acquisitions this is the biggest since they did red hat a few years back, $34 billion. this is $5 billion it's a lot less, but it's big and material and it will help their cloud business, their hybrid cloud business substantially and also increase recurring revenue which is important and it's a big part of his strategy so i think at 14 times earnings with a 5% yield, they have $18 billion in cash on hand and they just paid cash for this deal, they're actually doing a lot of good things, and i'm just trying to find some value here, especially in technology it's kind of tough. >> we beat up on ibm but intel is taking that role now as ibm turns itself around. thanks for joining us today. appreciate it. >> thank you. coming up, ubs boosting its meta target saying the firm will likely get a boost when it

integrates generative a.i. into the meta verse a power check as we lead to break. carnival only down 9.5% after announcing strong cruise demands. analysts want to know when profits will return. boston properties the real estate investment firm up nearly 8% best day since 2020 along with the rest of the space. sl green popping we'll have more on that later. "power lunch" will be right back what if you could make analyzing a big bank's data... no big deal? go on... well, what if you partner with ibm and red hat,

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wolfspeed. welcome back to "power lunch. tech check ubs downgrading alphabet shares to neutral from a prior buy saying the stock has limited upside and monetizing a.i. will be difficult in the near term. let's bring in the analyst making the call. lloyd, alphabet shares have been a powerhouse they've been kind of generally helping the old communication services sector do that thing that it does so well in growth times. this is as much a valuation call, right?

i mean, there's not much left in the tank, but it's not a bad stock? >> yeah, i think that's a fair characterization the stock hit our target we looked through our model. wave beenin -- we've been doing lots of work there's upside to 132, 7% upside it's not enough to sustain the buy. when we look at other stocks we cover, amazon being one, meta being another, we think they have more clean plays on generative a.i. that are clearly positive, whereas with alphabet there's still some things that could move the other way against them related to this trend, at least in the near term we wanted to step to the sidelines and focus our bullish energy on meta and amazon. >> okay. we're going to get to that in just a moment here the fact that you even bring up meta and amazon in the context of alphabet, when it comes to things like generative a.i.,

suggests almost points directly to a competition element and that is probably one of the center points of your thesis about this kind of move to the sidelines. take us through that competitive dynamic and what sticks out to you the most with regard to alphabet versus meta versus amazon . >> yeah, it's a great question and i think when this first -- this theme first came about, most people were worried about chatgpt and then bing taking query share from google and i think after google's io conference keynote people felt better that we saw the product coming out of google, it looked very good. they integrated other assets into it. but what's interesting, started to give us a little bit of concern is looking at what snap has rolled out in terms of an a.i. chat bot and hearing about what meta's planning to roll

out, you actually could see that as kind of a new risk on the radar competitively, and again, i don't think this is something people are really talking about yet, but i think it's going to become more problematic as part of the narrative around alphabet over the next few months and so while i think a lot of people priced in limited competitive risk from this point, we don't think they're totally out of the woods yet. >> it's kelly, can you explain how generative a.i. helped meta in the meta verse specifically which i don't want to go so far to say doesn't exist yet, but you know >> yeah. i don't think it's that interesting for the stock any time soon as it relates to the meta verse what the company talked about, it will be easier to go from -- to build out new universes using generative a.i. in the meta verse. there are interesting applications but not ones we think of for the stock for meta any time soon. >> now when it comes to this,

you know, as a lay person, within i think of like the artificial intelligence, generative a.i. stuff we've been talking about, the first thing that came to mind years ago was voice assistant, right we had siri for apple, alexa when i think of generative a.i. i think of alex a. like i say hello siri or hello google is it a race for these megas to solidify what that next chapter of generative a.i. is supposed to be? but beyond just a chat bot or a voice assists. microsoft had cortana. we don't hear about her anymore. >> yeah. it's interesting i think a lot of those technologies ended up being disappointing. my young kids love their alexas. i don't use it for a lot but i think when you start to use, you know, the new bing, chatgpt, some of these technologies, even snapchat my

a.i. they're helpful and i think there will be a lot of people using these. there are a lot of people using these. and what i think is likely to happen is, there will be verticalization of these you'll have different chat bots for different use cases and that's one of the risks for google they've done a good job with vertical search, kind of not letting that get away from them, but i think it may be harder here, given the players involved, the players who are developing technology here but more than anything we just don't know yet and that i think has to -- you have to factor that into the multiple. >> all right lloyd at ubs with a downgrade of alphabet to neutral from buy thank you very much. we'll see you soon. >> thanks for having me. coming up, pushing pills weight loss drugs are surging in popularity now the race is on to develop oral versions of the popular injections but as pfizer is learning it's no easy feat

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. welcome back to "power lunch. let's take a check on oil prices which everyone thought might be spiking after the events in russia, slightly higher up.5%. pippa stevens joining us with more. >> not much of a reaction which means the market doesn't think there's going to be some sort of big disruption to russian supply, but is duoes introduce there could be chaos in russia prior to this past weekend i don't think the market anticipated that coming. still, the move today or really the lack thereof, rebecca at private wealth told me it does speak to the mentality shift, the oil market in terms of how traders approach geopolitical risk, where now they're not factoring in supply disruptions until they happen because of course that's been a big-time losing trade if you factor that in ahead of time

everyone thought russia was going to be disrupted after the invasion and that did not come to fruition. re the market is being more cautious when it comes to the headlines. couple other things nats gas at the highest end more than three months on the scorching temperatures in texas. it is up more than 20% for the month so it's looking extended, we'll have to see. wheat prices today hit the highest in four months and turned lower still at more than 20% on the month. >> i don't know if we can show context here wheat, these are going to be the areas to watch, the biggest consumer and global pain point coming out of this food prices in the uk and europe have been high central banks are hawkish. if we see another round it will be unfortunate. >> it's based on the weather and based on the black sea deal, and whether or not that's revoked and, you know, wheat is a global commodity that feeds billions of

people so food prices have been one of the stickiest parts of inflation and if that ascends more prices are going up. >> we're off the 2022 spike, but well above where we were previous. >> we're watching corn because corn is centric to u.s. markets as well. >> indeed. >> u.s. growing conditions are at play for that one as well. >> 100%. >> thanks. let's goat julia for the cnbc news update. >> well, kelly, the shooter who opened fire inside of a gay night club in colorado last year has been sentenced to life in prison without the possibility of parole. anthony aldridge killed five last november. aldridge pleaded guilty to five counts of first-degree murder and 46 counts of attempted murder as part of a plea deal earlier today. publishers clearing house will have to refund $18.5 million to customers. the company reached a settlement with the federal trade commission today over accusations of using deceptive consumer practices the settlement requires the

company to make changes to its online business practices. a company spokesperson says pch disagrees with the ftc's findings and admitted no wrongdoing anthony fauci, dr. anthony fauci, a household name during the covid-19 pandemic and now he's taking his expertise to georgetown university. starting in july, dr. fauci will serve as a distinguished university professor in the infectious diseases division at ge georgetown's medical school. fauci kwads vised the nation's leaders on threats such as hiv, aids, west nile virus and ebola. >> julia boorstin with a news update, thank you very much. still to come on the show, domino's doubling down on delivery the company launching a new pinpoint system to deliver food anywhere even off the beaten path we will speak to domino's ceo coming up next

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i remember being on aau trips, high school games. my mom would always say, "you need to fuel the body and you need salt." i would always be the kid not cramping, ready to go. fast forward 20 years and i go from eating salt out of my palm to drinking lmnt. sleepovers just aren't what they used to be. a house full of screens? basically no hiccups? you guys have no idea how good you've got it. how old are you? like, 80? back in my day, it was scary stories and flashlights.

we don't get scared. oh, really? mom can see your search history. that's what i thought. introducing the next generation 10g network. only from xfinity. . welcome back to "power lunch. we are focusing on shares of domino's pizza today the chain rolling out a service called pinpoint delivery

the new feature lets customers drop their location to a driver without an exact address to reach beaches or parks or any other location that could be difficult to find. that stock down almost 10% in the last six months as you can see. doubling down on a new form of delivery be a boost for the company? about the state of the consumer, russell weiner joins us with our senior restaurant correspondent kate rodgers cate, i'll send it over to you. >> russell, thanks for joining us great to have you with us. >> thanks for having me. >> let's talk about pinpoint delivery and why will this be a differentiator for domino's in this post-pandemic delivery environment? >> well, there's no restaurant in the united states that is doing this today, and so you know, you may be home one day, want to have pizza delivered to your house but say you're out watching a little league game or at the beach there's no address. with pinpoint delivery go on our

app, drop a pin, tells us where you are and we bring the pizza to you that's something no other restaurant is doing today. >> and how challenging might that be for drivers to make happen for people who are, as you said, dropping a pin where there might not be a typical delivery address >> yeah. our job is to make this easy for customers and for drivers, and so all a driver does is get a latitude and longitude address as if it's a regular address and the gps takes them to where that pinpoint is. it's like there is an address even though it's virtual we call it hyper local is another way to say it. >> beyond just pinpoint, domino's has long had this amazing technology pipeline. i'm curious how you're looking head at artificial intelligence and its uses at the company using labor shortages or streamlining orders? >> i think as folks talk about artificial intelligence, it's not -- it's important to not

just look at the latest pr gimmick or things folks are talking about. it's important to look at history. i think the great thing at domino's pizza is we've been doing artificial intelligence work throughout our consumer experience, our operational experience, online we've been doing it over a decade we probably have about 20 different a.i. ormachine learning experiences out there now and we'll continue to do that into the future we've got a history of showing we can leverage this technology all the way back, you have the dom in the studio with you, we have a dom voice ordering we launched in 2014, which uses a.i. >> i cannot wait, russell, to hear this because it's dom, russell. okay so as we talk about pinpoint delivery, and we talk about ways to differentiate the domino's product, can you speak to us about the competitive dynamic as you see it right now if you look towards other chains like a little caesars or like a papa

john's what is the next stage for you guys beyond pinpoint delivery and how exactly do you make your brand stick out for consumers like me who get takeout or delivery pizza quite a bit >> well, today is a great example. pinpoint delivery is a great example. innovation is what customers are looking for and when i say innovation, it's not just what's the product of the month if customers don't think and don't see that we're excited and we're trying to reinvent the experience every day for them and make it better, all it is is another delivery nomatter how good the product tastes or what price point is as long as we have the right value in there, innovating around product, around service, around technology, around all of these areas, all it does is reinforce we're doing everything we can to make it a great consumer experience and done that for the last decade and we're the number one pizza company in the united states and around the world. >> it's been an incredible run

for sure on behalf of pizza producers in new york city where, i don't know, they might have to get rid of their coal fired ovens can you share outrage or do you think this is a good move? >> i'm sorry you broke up we don't have a great connection. >> i'm sorry people can't see the cool pizza innovation lab you had behind you today as well i was just wondering, new york city says they're going to crack down on coal fired pizzas in particular because of their carbon emissions curious if you have a response to that? >> that's not the kind of oven we use in any of our 20,000 stores around the world, so folks who want to order pizza from domino's in new york that's where i'm from as well, free free to order from domino's pizza. >> can you leave us with a snapshot of your consumer right now at a time when we've heard of, you know, people who with high income shopping at dollar stores and, you know, where do you see the strength or weakness in your customer base? >> you know, it's interesting.

we've got two types of businesses we're a pizza company, but we sell pizza via carryout and delivery the carryout customer that business is on fire up 30% over the last three years delivery, it's not just a domino's thing, it is a little pressure because of category pressure so we're still growing share but delivery there's pressure there because of delivery fees and tips, makes the product a little bit more expensive at domino's we're not losing customers because of that, but we may lose an occasion here or there and it's not to another restaurant what people do is eat at home. and so what's going to be super important for us as prices rise in this inflationary environment we took our pricing last year, that's all we need to do for a while and will this continue to grow into being the value player that we've always been while delivering innovations like this it's an interesting time

i'm excited that we've got a diverse business and we think delivery is about to make a comeback. >> and russell, it's kate, one last question, what is the carry out opportunity for the back half of the year as we are facing inflation and consumers may be conscious about how they're spending their money do you see an opportunity to grow >> yeah. it's actually carryout is 50% of our orders 40% of our sales and it's probably the most price sensitive customer but at the same time there's the least amount of additional prices there. there's not a delivery fee, there's no tip required, and so in that place, in the -- for the carryout customer we see inflow where people trade down from more expensive restaurants and don't carry out there, they will carry out from domino's. it's been a net positive for us on the carryout side. >> thanks so much for joining us we appreciate your time and insights on this space. >> thanks for having me.

>> great granularity carryout versus delivery. >> i would say 80% of my pizzas are me going to carryout as opposed to delivery. >> and they made this pivot, lower cost where they saw the pressureson the delivery business and the carryout percentage. >> 50% carryout is 40% of revenues. >> talk about money down the drain. a report finds billions of dollars in infrastructure could be wasted thanks to outdated rainfall models. one project at week. june is pride month and cnbc is sharing stories of corporate leaders. here is the principal at glass sheen and co >> for me, pride month is truly a celebration of the uniqueness of our community, but it's also an opportunity for the lbgtq plus community to come together in solidarity. there's strength in numbers. particularly this year when there's a lot of hate and intolerance against certain parts of the our community,

solidarity is crucial. for those of us who are comfortable being visible, speaking out, we need to come together and do that to fight this hate and intolerance. we're at war. -detonators charged. there's a chance that when we push that button, we destroy the world. we're in a race against the nazis. i have no choice. is it big enough to ead the war? to end all war? 7... 6... 5... 4... 3... -it's happening, isn't it? 2... 1...

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billions dollars in infrastructure spending could be wasted because prompts are using outdated government rainfall models a timely one, diana olick joins us to explain in her series on the rising risk from climate change diana? >> the government model that predicts rainfall doesn't factor in the effects of global warming and that's the model being used by state highway and bridge projects with funding from the infrastructure act all this according to a new report from first street a climate risk firm. >> all that money going into the infrastructure is being built to the wrong flood standard, meaning the roads will flood, bridges will flood and it is a waste of money when it's a one in a generational spend we're using. >> reporter: the only authoritative government source for data is from the national oceanic and atmospheric administration or noaa called

atlas 14. >> this information is leveraged by communities and stakeholders all over the country to inform the engineering design of transp transportation infrastructure all over the country. >> reporter: it has a major flaw. >> it does not include climate change information and why we're looking to modernize it with noaa 15. >> reporter: the model won't be done until 2026 after many infrastructure projects are under way or done. for example, new jersey's route 18 rehabilitation which received over $86 million in funding from the infrastructure law, is using the old atlas 14 as a flood guide. >> the believed one in ten year event is a one in four year event and over the next 30 years, will go down all the way to a one in two year event, meaning every other year, we would expect extreme precipitation to flood this location >> reporter: we are already seeing heavier rain, snow and flooding, due to global warming

because when the atmosphere is warmer it holds more water. >> reporter: if you were building a road and had to make sure it wasn't going to flood, would you want to use atlas 14 >> i can't speak to how some of those engineering decisions are made >> reporter: we contacted the new jersey department of transportation which confirmed usin using atlas 14 adding they reviewed updated data from proposed storm water management regulations but that data according to first street uses the same historical method as atlas 14 not factors in the future effects of climate change back to you guys. >> so do they not have -- could they pay for better models do they have to use the government's rainfall model? >> some states it's mandated as was in new jersey and it's because the government model is what exists and what is there for them to use. could they pay for it? >> sure. we've done stories on climate risk firms that offer this data. if the government wanted to use

their data as a stop gap until atlas 15 was done, they could have it for free. >> i mean, at some point i would hope thank you very much. diana olick reporting. still ahead on the show, a tough pill to swallow for pfizer those shares lower on news it is discontinuing development of an experimental weight loss drug. that story coming up rival novo nordisk could deliver its weight loss injeblejebles, wegovy and ozempic n a ease to swallow pill we'll discuss after this break e to help you connect and analyze data— swallow pill we'll discuss after this break what if we use ai-driven insights to pinpoint inefficiency? yep. and act on it. saving energy, money... ... and emissions. yup. that's a big one. now you've built something better for everyone. that's the sustainability solution ibm and a global real estate company created.

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with flex alerts, the power is ours. welcome back to "power lunch. more big news over the weekend in the exploding weight loss drug industry. researchers with novo nordisk planning to ask the fda for approval to distribute their weight loss injection wegovy and wanted to distribute it as a pill which was shown in a study to be as effective as the injections eli lilly working on a pill form of its drug. pfizer facing a setback in its quest for its weight loss drug discontinuing development after data let's bring in dr. patel, nbc news medical contributor

it's great to have you here today. we will start with the setback for pfizer which after everything it did on the covid front now really needs kind of to be involved with the next big thing. >> yeah. the next big thing, absolutely, would be appropriate for obesity, but it's not all bad news for it is not all bad news for pfizer and it was in the once a day dosing for the drug which had safety signals. they will proceed forward with a twice a day oral drug. some oral drug might be better than none especially if we have competitors like epinordisk which will have competitors much earlier. there is a lot for this market to be had and wait to see the data to see what pfizer shows and definitely a setback for today. >> as the pfizer pill will be as effective as the injectable and maybe once a day pill also as effective as their injectable? >> yeah. that was the big news coming out of the weekend and some

abstracts and articles coming to the diabetes and endkocrine, an there is an oral version of this drug and that is a 14 milligram dose the data that came out over the weekend is you needed a higher daily once a day dose of 25 or 50 milligrams and this is dom paired to a weekly injectable of 2.3 milligrams of a similar drug and the higher dose of that drug had a similar effect to what we would see with a weekly injectable it wasn't a head to head comparison, but an incredibly robust trial with the placebo and randomized trial and it all points to signals that once it's approved this will be a popular choice especially for patients like mine who may not want to do an injection every week. keep in mind, this is for obesity and it showed effect against diabetes >> doctor, it's dom here

this is very much about the addressable market this is a massive demographic that you're hitting in a population that is dealing more and more with obesity right now. i'm a middle-aged guy, but i remember back in the late '80s, '90s, 2000s, a series of different weight loss drugs that were all very front and center at the time that all, by the way, ended up having some crazy or bad side effect or being shelved and put off the market and weight loss is something that americans have been chasing for decades. what separates this latest leg versus the other legs that we've seen since the 1950s >> dom, i'm right there with you and i remember the early days of the drugs that caused incredible g.i. side effects. wooe talking telling patients, listen, be prepared to have all sorts of horrible side effects just to lose five to ten pounds and here's the game changer in this class of drugs and the

glp-1 gl-2 inhibitors and ozempic and peptide protein. they do two things, dom. they quiet the food noise and we now know enough that obesity is the products of complex factors including your relationship with food and what can be triggered in your mind so number one, we're seeing this effect on decreasing that craving, that sense of just wanting especially bad foods for you that cause weight gain the second thing is really just this true effect in diabetics where it helps you to release more of the insulin to control some of that glucose so you don't have these incredible highs and lows especially in people who are insulin resistant which we know is a significant contributor to obesity and we're getting smarter about understanding the chemical nature of obesity and how complex it is and two, what we saw in the trials is the side effect of quieting the food noise as you hear it described

and i use this a lot in the diabetic patients and it's real. the key here is sustained behavior change. unlike the earlier drugs you really had to use them and we know with patients we need to continue to use these drugs and having an oral drug that you can take safely once a day can be a game changer when you tell someone they have to take for the rest of their lives. novo nordisk reported they saw a significant increase in g.i. side effects, things like nausea and other things we see with the injectable drug. nothing comes without some sort of risk imbalance around having a discussion with your physician. >> yeah. >> this isn't the weight loss for five pounds. this is something, again, for obese people that have significant weight to lose. >> still with a big price tag although the more competition has to come down medicare once that gets approved although that's where the money is these days. >> it's government money >> dr. patel, thank you for your

time today we appreciate it very much. >> thanks. still ahead, coal fired up, kelly alluded to it before the crackdown in new york city msat has pizza lovers up in ar we have that and much more when "power lunch" returns after this ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term

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>> welcome back, everybody just about two and a half minutes left in the show and a lot more stories to get through. starting with real estate. it's the top sector in the s&p thanks to a 20% gain for sl

green. they sold just under 2% of their stake for a total valuation of $2 billion they took it over from a bankrupt chinese company in september. >> there's prologis. millions of square feet. so deals are what's priming this real estate market. >> and a sigh of relief for office in particular. well, president biden announcing more than $40 billion in new federal funding to expand the broadband internet access as part of the effort to bring broadband to the entire country by 2030. the money will be parcelled out to the states with each state receiving $100 million you can forget about having satellite high speed >> all of this state and local spending will continue to keep the economy going and keep the labor market tight >> well, yes totally. it's giving with one hand and taking away with the other car insurance premiums are soaring and this may be the

beginning. cpi reports, insurers say the increases because they're losing money to higher accidents and repair costs. >> and the higher cost of vehicles >> it is parts of that story >> i don't know. anyway, a survey from bankrate found that 39% of american a documents now have a side hustle or secondary income stream to help supplement and 45% believe they will always need that side hustle to make ends meet that's a telling tale here >> and i've heard from ceos who think that their work from home employees are double dipping and not just a side hustle and legit two jobs at once paradigm shift it tells us something about the economy. coal and wood-fired pizzerias that would use the old baking methods to cut their emissions by 75% the rule could require the installation of air filtration systems that cost up to $20,000, not counting maintenance which seems like a weird tryst to the whole story.

>> here's what i would say, i live in connecticut and you used to be there. new haven-style pizza is all about wood, coal-fired stuff, and i enjoy it >> if they're coming to new york they're coming to connecticut next and then new jersey has california done this yet >> anyway. scandalous >> thanks for watching "power lunch ". "closing bell" starts right now. i'm scott wapner this make or break hour begins with the road to tech and its mgive in sent run is acting tired lately and raising questions now about whether it is bad, and dan ives along if just a moment. in the meantime, here's a scorecard with 60 minutes to go in regulation. nasdaq, our focus today is names like nvidia, tesla and meta. dragged that index lower and there you see the losses there the nasdaq's eight-week winning streak coming to a close las