(sean) i wish for the amazing new iphone 15 pro! (jason) sean! do you mean this one - the one with titanium? switch to verizon, you can trade in any iphone, and get the new iphone 15 pro on them. (vo) trade in any iphone in any condition for a new iphone 15 pro on us. only on verizon. hi, everybody. and welcome to "power lunch." coming up the iphone 15 goes on sale today at stores in the u.s. and around the world, and as usual big crowd showed up especially in new york. even tim cook was there. we'll get a live report. plus, the next step in the migration to streaming. live sports, warner bros discovery max announcing the pricing for its new tier.

will customers now have to pay to watch march madness? kelly? >> we'll ask about that. let's get a quick check on the markets, though. dow is coming back. only back 23 points after dipping back in the red last hour. s nasdaq up 4 and s&p up 35. the u.k., they've made a big deal with the u.k. regulator, both stocks were higher today -- well, they were before microsoft turned lower about 0.5%. we almost closed all of that with shares up 2% today. interesting names on the 52 low week list today we want to call out like target, dollar general and dollar tree, some of the wea weakest retailers this year. and the dow component is back to lows we haven't seen since 1998.

that gives it one 25th the impact of the dow as fellow component united health. we begin with the latest on the uaw strikes. lots of news today. strikes expanding, most of the news coming from comments made by the head of uaw. phil lebeau joins us live from michigan with the very latest. hey, phil. >> reporter: we're outside the mopar parts and distribution center. mopar is the parts wing of stellantis, if you will. we were here about noon when it seemed about 75 workers they walked off the job. they were greeted by other u pgw workers cheering saying it's time to stand up for what we believe in. they are striking at 38 stellantis and general motors parks and distribution centers around the country employing about 5,600 uaw members.

here's the uaw president. >> it's going to depend on what these companies do. this is our next move in the process, and i think it's a great move. this is one of the strongest parts of our aspect these pvcs. >> you take a look at shares of gm and stellantis, and keep in mind this strike hurts the parts supply to dealerships. what we're talking about is dealers will not have as many parts when someone goes in and it's going to take a while in some cases they'll put it off until the end of strike. ford is not part of the new strike because the uaw says it sees new progress in its contract talks with ford. we're back here at the center

line just north of detroit. this is not a huge facility. this is not a strike -- a part of the strike that is going to have a huge economic impact for stellantis, same with general motors and its parts centers. but it will be a situation where people will go to their dealer and they may need to have a repair done and they will have to put it off if the dealer cannot get that part or it doesn't have that part in its inventory. >> so how many new locations are now subject to the strike action? and how might that expand over the weekend into the next week? >> reporter: well, there's 38 new strike locations between general motors and stellantis. that's 38 parts and distribution centers around the country in 20 states. add those to the three final assembly plants where the strike started last week, and so you're looking at right now a little over 40, 41 places where uaw workers are on strike. in terms of future strikes, that

remains to be seen. the stratoge of the uaw is we're not going to tell you exactly where we're going to announce our next strike or when we're going to announce it. it all depends on the pace of negotiations. >> you mention pointedly these were stellantis and jegeneral motors locations. why not ford? >> because they believe they're making progress with ford. in a nutshell that's what it comes down to. gm, ford, and stulanitous all put out statements. they say, look, we're negotiating, we want to get a deal done. and stutanilous a few minutes ago said we've got a real solution on a number of issues uaw has been raising. we're at that stage the auto workers believe they're making real efforts and the uaw is

saying not enough. >> phil lebeau, thank you. now to the iphone 15 going on sale around the world today. and tim cook showed up at the apple store in new york city as part of the festivities. our steve covack is there as well. lines being reported in china and dubai and new york, steve, so there's some enthusiasm here. >> reporter: and i've been here since believe it or not 5:00 in the morning today, kelly, and the line is still going. people keep adding to the line. it's around the corner here stretching from fifth avenue down to madison. and as you mention tim cook showing up to open the doors this morning at 8:00 a.m. we saw him inside. he was signing autographs believe it or not of people's boxes of newly purchased iphones. look, after all the cheering and so forth that we're seeing and the celebrations, the pressure is really on for this iphone 15

line-up after we've seen apple go through three straight quarters of declining revenue, expecting a fourth quarter of declining revenue as well unless right now in the last couple of week of the quarter perform above expectations. next quarter is the real quarter to watch. that is a fourth holiday quarter. compares for top line growth should get easier because of all the covid lockdowns and supply chain issues they had in the quarter. apple really hoping comparisons get better, and the key to that, kelly, is the proline of phones. especially the iphone pro max which costs $100 i talk to the first person in line here he got in at 8:00 last night and he said he's in line for that iphone max because it has the best features. that's exactly what apple wants to hear. >> apart from the nice round

number of 15, that's a lovely number. my son wears it in football so i'm fond of it, but what are the features that people are turning out and getting in line at 5:00 a.m. or whatever it was to get? what is so different about this phone from its predecessor? >> reporter: the answer in short, tyler, is not much. so year over year the advancements where pretty iterative, and apple does that because people hang onto their phones so much longer than they used to. whereas in the early days of the iphone people upgrade every one or two years, and that's been extended four or five years. the camera is so much better, the battery, performance, the screen technology. everything you care about will be improved. if you have the iphone 14, you're not going to feel that improvement so much. the first guy in line he's going

from an iphone 13 to the 15. so he's a couple generations behind. for him it's going to more a significant upgrade. i don't think you're going to see a lot of people except for the ultra iphone fans going from 14 to the 15. >> that's an analysis that people are keeping their phones longer so when they're ready to move from that 11 to 12 to the 15 it really is a markedly different phone compared to the 14 where the changes are incremental. i got a new iphone myself. i held to my old phone 3 1/2, almost 4 years and markedly it's a better phone. >> did you get a 14 just a couple weeks ago? >> i'm not in that ecosphere. >> i see. we've got a samsung guy here. >> green guy. >> green bubble. >> unless the eu gets its way.

but we digress. meanwhile, check out shares of mcdonald's as that stock is higher today. the company announcing they'll raise royalty fees being charged to new franchisees. let's bring in kate rogers for more on what this means for the company. >> you said it. mcdonald's raising its royalty fee from 4 to 5% in new locations beginning january 31st. the higher fee formerly known as a service charge will impact those new franchisees, those who buy company owned restaurants or new restaurants. it will not impact owners with current footprints or restaurants transferred between family members. telling cnbc, quote, we're not changing services but we are trying to change the mind-set by getting people to see and understand the power of what you buy into when you buy the mcdonald's brand, the mcdonald's

system. the company says the fee has not kept pace with the brand value over the years, and cash flows up 35% in five years. the business course has remained strong and same store sales were up 10.3% in the most recent quarter. what comes next is how franchisees will react. they have butted heads with corporate over the last few years and the company has made major changes to the franchise structure including putting in place new grading systems for owners and changing leases for new owners. back over to you. >> did i understand you correctly, kate, you said something about return rate of franchises being 35%. does that mean that 35% of people who take out franchises after a -- after five years yield them back to the company or sell those -- >> that's the average cash

returns up 35% over the last five years add in all-time highs. the company says the brand power is there, and this speaks to what corporate believes the brand power is at this moment in time. because they're raising it for new owners and new people who want to come into the system, you're going to have to pay this higher rate because we haven't raised this in a long time, and also if existing owners are buying new locations, they want to add to their portfolio it's going to be higher, but if you just renew your current 20-year lease. >> i apologize. i completely misunderstood what that word return meant there. >> sure, sure. >> but thank you for explaining and digging me out of my ditch. >> no weorries. >> also explains why mcdonald's might be striking now. still to come was bolero's success a fluke? post pandemic the growth story is striking out, and greenberg

says it is a no buy zone. he joins us next to explain. plus the future of streaming. pay to watch to play. is this the start of a new bundle? is the bundle back? we'll be back right after this. every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to use predictive monitoring to address operations issues? we can help with that. can we provide health care virtually anywhere? we can help with that, too. is it possible to survey foot traffic across all of our locations? yeah! absolutely. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening.

but many of those aren't around anymore, those that survived are trading well below their price. ted greenberg is taking a closer look at all of them, a survivor, bolero and throwing up the red flag alert and calling it a gutter ball. we had had talked about this when the stock was doing well earlier this year, erb. so what's changed? what's happened? >> think about this, kelly. you have a company that was a perfect company, the perfect stock with a great story to tell at the right time.

that was during the pandemic when we were at the peak of spac mania, everything was going its way. everyone wanted to get out of the house. so what did they do? they went to anything leisure, and this is a company that is rolling up mom and pop and bigger bowling allies, and people went bowling. and business was so strong this company could raise prices over and over and over again. it was so busy at times they instituted what they called peace pricing. that's, you know, surge pricing, and it was great. and their sales growth and their same store sales growth was literally -- i say through the roof, it was so strong. when anything is that strong there's the other side, now people have decided they want to do something else, and there's always been this talk about the revival of bowling. for years and years and years there were waves of that. this is the wave.

people are doing other things. guess what? they can't raise prices the way they used to. in fact, they have to discount prices to get people to stay longer. they need people to play what they call a third game so they'll stay and spend more money at the arcade and buy more food. and what happened is they took away some of those discounts boss maybe they went too far. and now they realized, oh, my gosh, we have to go back in. the company are going to continue to roll-up other bowling allies. that's their growth story, but their debt is rising, their margins are falling. something's got to give. >> herb tied this back to a company we had on i think earlier this week. brunswick, the boating company. they'd tried bowling allies. >> that wasn't just them trying it. that was the original brunswick. brunswick bowling, that's what

brunswick came from. >> brunswick was the pin setters in the allies as i recall. >> in the bubble of 1997 amf bowling centers went public. that was the bowl of 1997. it ended up filing for bankruptcy because there was a recession. a recession would not be good for this business if there ever is a recession. my bottom line on all this is simple and this is my line. it's constant. with thousands of public companies out there to buy, you could come back and say why this one, and so you have to start thinking about that because i always say stock avoidance is just as important as stock picking. >> why are we talking about bowlero today? because herb is talking about it and herb is an influencer.

is that right? >> from your lips to whoever's lips. i'm talking about it because it hit my radar. i started seeing people talk about it, and then i dove in. and actually dove in and went back through the transcripts and what the company had said over the quarters. that's when i said, oh, my gosh there's big changes here. and that's when i looked at it and said -- >> to their credit i think they did two things really well. one, is they timed the spac market pretty damn well it seems to me, number one. number two, they improved the experience of going bowling and made it -- not that they were alone in doing this, and they made it fun again. >> by the way, tyler, i heard from somebody on twitter in kansas who said they took their family of four to go bowling. i haven't gone bowling in a while so i don't know this, and it cost them $200. and so bowling has also become expensive. and that's another part of it

story we start talking about inflation. >> that has to have included food and beverage. >> i actually think he said that was pre. >> i've also heard the sticker shock. >> that takes my breath away. that is a 7-10 split. herb greenberg, thanks. have a great weekend. further ahead we've got working lunch except skipping the food and adding a work out. we'll hear from the ceo of jim pass, a company trying to help companies bring gym benefits to employees. "power lunch" will be right back. network's got you covered. [please confirm requesting back-up.] -changing route. -go. roadblock ahead. ...back up, back up... reverse! reverse! next level moments, we're 30 seconds out. need the next level network. [north corridor, hurry!] -coming through! -or 3, let's go.

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welcome back to "power lunch." perching squares bill akman. >> i'll tell you what there's many more traders coming into his line of thinking and one of threads there is debt and deficits for sure. let's start at the beginning shall we? look at fed fund futures for december of next year. why? let's see how all of it's moving through the system. it's ending up 15 basis points less easing in for next year,

and it made new contract lows last year. that means it's more of a tight policy firm rate than many thought. kbc banking index, we see tightening credit continues to take its toll, and we'll get one week of twos and tens. maybe they moderated on a day that made sense, but on the week there's still higher yields. and this week we had cycle high yield closes across the curve, and finally the index huge beneficiary near a six-month high year close and bank of japan doesn't do anything and they're still calm about it. let's find a trader not so calm. paul? big week. fed doesn't do anything, bank of japan doesn't do anything, bank of england doesn't do anything but big moves. what are your thoughts? >> well they didn't do anything. there was some commentary there i think spooked the markets a little bit with the terminal rate.

people are starting to think that might be a little higher, and that affects the valuations down here. >> oh, yeah, discounting rates with higher yields in the future is definitely going to be an exercise that isn't fun for many investors. what do you think about the notion about where rates are, where they can go? how would you summarize how that is going to play out in the equity space? >> i think it's more about where they're not going to go, rick. i think the market's done pretty well that we're not going to be lowering them as much next year. i don't think that was much of a surprise. the fact they're not going to get lower fast beyond that is what's being noted right now with the recent sell-off in equities. >> one of the mantras we hear on every cham is ultimately higher for longer. i know you and i were talking off camera. we think here it's a stay here for longer mentality. >> yeah, and if that's true i

think equities are going to have a bit of a headwind, which we saw today. it's important to keep in mind we're much closer in the lows than the highs this year. and more of a panic to the down side. >> kind of scooping the foam off the top of the glass, but at this point if you had to make the call whether the equity markets are going to stay in the green with interest rate related volatility, do you think that's likely? >> well, there's still a lot of foam left there, rick. so i think for now safely up -- >> way through the system. paul, thank you. it's been a wild week at the cboe, and tyler, back to you. >> thanks very much. have a great weekend, sir. and let's turn, jp morgan un upping for $100 a barrel saying, yes, that level is likely but a spike to as high as 150 is possible. pipa, say it ain't so.

>> it's not their base case but they're saying 150 is possible and they do think we're going to see higher for longer prices. everyone is getting on the higher for longer. but this all comes down to what they say is underinvestment in the sector. so they see $1 trillion worth of underinvestment through 2030 and pushes up the longer term prices they see it stabilizing around $100 per barrel. of course 100 is not what it used to be. i mean coffee is now what $8. so $100 oil is not going to have the same impact it used to have, and essentially they're saying $80 is the floor for prices because they have cap end, dividend, buy back, and so in europe they need that $80 level in order to incentivize any production. higher for longer end of week. >> you don't have a supply all

of a sudden when you might need it, prices could really jump. >> let's get to bertha coombs for the cnbc news update. >> california insurance company will be allowed to consider climate change when setting prices. regulators announced the updated policy as froods and wildfires swept across the u.s. the move aims to prevent insurers from leaving the state over fears of losses from natural disasters. the rule change could skyrocket policy prices. the department of insurance said eight companies in the state are already requesting at least a 20% increase. spain's women's soccer team will now be known simply as spain's national soccer team, the same title used for the men's team. the move towards greater gender equality follows an international scandal when the federation's president allegedly kissed a player without her consent. and ad-free viewing will be

a thing of the past on amazon's streaming service unless you pay a little extra. the tech giant announced today it will join its streaming rivals next year by offering customers different tiers of viewing. the ad-free prime video option will cost an extra $2.99 each a month. oh, well, kelly, i guess that's the way of the world. you know i'm liking these days streaming i've caught up on is "poker face" on peacock, not to promote peacock but it's a great show. >> i'll check it out and not instead rant how the new bundle is an old bundle because it costs more and i won't be an old man yelling at the sky or whatever. bertha, thank you very much. and auv wn should check that out. sports to the max. warner bros discovery adding a streaming tier to its app if you want to watch mlb, nhl, and ncaa march madness.

we will discuss that next.

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welcome back to "power lunch." we've had a very vigorous conversation about streaming, and we're going to talk about the sports streaming surge showing no signs of stopping. amazon and apple already major players in the space rush. and just this week warner bros discovery said live sporting events are going tobe added to the max streaming service starting next month. it's going to include access to major league baseball playoff games and regular season nba and nhl games. now, that's going to be free for max subscribers for now, but come march madness and playoff time for the nba and nhl, access to the games will cost an additional $10 a month for the max streaming subscribers. so this model have any chance of working? let's ask joe flint, media reporter for "the wall street journal." i'm assuming here, joe, that what max is doing is taking what

warner bros discovery already owns in terms of rights to show baseball playoffs, nba games and playoffs, and ncaa games and playoffs and taking it front tnt or whatever other channels they have where they air those things and moving it over to max. am i understanding that correctly? and i get it for free now but eventually they're going to charge me $10 a month? >> you're close, and thanks for having me on tyler. >> you're welcome. >> it will remain -- the sports will remain on tbs and tnt, but they will be also available on that, and you might say, well, what's the logic in that? and here's the logic. for me, anyway, i'm still a cable subscriber, i've got the bundle and also have max.

i get these sports on tnt, i don't want to pay for them on max. if i cut the cord and i'm one of those crazy cord cutters and i subscribe to max for say $16 and then, yes, to your point come march for another $10 i can get all those sports i used to get on tnt and tbs, so they're trying to thread a fine needle here of protecting an old business model as well as a new one. >> how lucrative, really quickly is this new business model. because i can't imagine -- let's say someone like me say i'll do $10 for three months and i'm canceling it again. so what's the risk with this strategy because i can't imagine it's as profitable as the old one. >> that's the challenge because streaming is growing in popularity for its convenience and consumers are embracing it. so the challenge here is you want the sports because people

love sports and they'll subscribe to your streaming service if it has sports. but the economics of sports on tv is based on the old business model of subscriber fees, and a lot of people pay for something that only a portion of that audience watches. so, yeah, at some point all of this is sort of i don't know explosion is probable too dramatic but at some point the rubber has to hit the road here in terms of streaming services and justifying the economic bets made in sports whether it's through them paying more or god forbid sports rights coming down in price. >> i can't imagine that the sports rights for the nba and the nfl and those are going to come down, but who knows? sports can go through cycles just like the rest of the economy. it seems to me that the analog here is going to a restaurant and buying al a carte as opposed

to piing the prefixed menu that has this stuff on it. i want the dessert, but i get the dessert anyways and i eat it, you know? >> it's true. that's always been the argument about the big bundle. i don't watch espn why should i have to pay for it? i understand that, and i'm not preaching the wonders of the bundle here, but the theory behind it is all those items together are able to keep the price lower for everyone. so when espn goes direct to consumer as a streaming service, it's going to cost a lot more than what the typical cable subscriber looks for. you'll have fewer homes paying for it. that's where the challenge will be are they going to get enough subscribers paying what might be

a 1999 bundle fee to add espn to cover those sports costs? that's the big gamble all these companies are going to be taking. >> yeah, if i'm a current cable subscriber, which i am, the thing i care about is max is not going to take away shaquille, o'neal, charles barkley, johnson, and kenny the jet. that's really all i care about. >> yeah, exactly. and the good thing is if you're a max subscriber they'll be there. and if you still have cable, you don't have to pay this extra money for it. if you don't, of course you do pay the extra money. >> you know what would make it better i just had this idea. they should take -- if they do this, they should take the guy from "curb your enthusiasm," larry david. they should put him on with shaq and those guys. >> can you imagine? >> that would be freaking great. >> they're all part of the same family. >> they're all part of the same family, so let's monetize.

that's what i was talking about, monetize. so let's bring in larry david. i'm telling you zazlow, listen up. yeah, you bet he's watching. coming up health is wealth. we'll hear from the ceo of a fitness app helping employers connect workers with thousands of gyms and trainers across the country. and as we head to break, cnbc is celebrating hispanic heritage sharing stories of influential business leaders. here is henry fernandes. he's the ceo of msci. >> i first came to the united states in the mid-'70s i felt very strongly to succeed in this country i needed to think like i belong in the country, that everyone else one way or another was an immigrant or a descendant of an immigrant and i was not

different than that. you're part of this fabric of society and success. that attitude, that mind-set is what helped me succeed despite any odds in any part of the career that i had. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this.

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welcome back. we've seen dramatic shifts in fitness and wellness in the past couple of years. peloton, for instance, having its share of issues. even traditional gyms like planet fitness and lifetime group have been struggling. today connecting corporate benefits. this is the gravy to health resources. >> yeah, exactly, kelly. the co-founder and ceo of gym pass, the startup that helps companies offer fitness memberships, wellness apps, and nutrition resources as a benefit. he started the company in his native brazil 11 years ago after realizing how unhealthy his lifestyle had gotten. in august the company announced an $85 billion series after a 2.# $5 billion valuation. as you might imagine the

pandemic posed a massive challenge for a startup pitching corporate fitness memberships. a conversation with a perspective corporate client had assumed would back out with the gym pass deal with the gyms shutdown. >> we're about to launch and with all the gyms and studios closed one would say this opportunity is lost, they're not going to invest. but i still remember today that that specific conversation saying, look, like well-being for me is physical activity, meditation, nutrition, and sleep. i need one key offering on each of these verticals, and we're launching next month. and i said let's do it. >> since then gympass has been offering a combination of in-person membership packages and personal training apps and helping companies use data to understand what employees need to stay healthy. >> so what we are doing recently is being very close with our

corporate clients to track utilization and engagement. corporate programs that work are those that start with high engagement but they see the engagement growing over time and not fading away. we're tracking that with every single corporate client because that engagement is what drives retention, is what drives lower burnout, is what drives fewer sick leaves and is what drives lower health care costs. >> the new funding is going towards expanding in the 11 countries where gympass already operates and expanding further into nutrition and mental health. >> is this what my employer does with gympass. >> depending on the level your company makes available to you, you can kind of have your strip mall fitness type of experiences. >> i can go to any participating. >> yeah, if you're going for the investment banker level, a luxury gym experience in the

city, there's a level of package that includes that higher end and also include some personal training, some nutrition options that you have. >> i was just going to say i think if this were, you know, a year or twoe this would be getting a lot of traction. i feel bad because i think the weight loss drugs are going to threaten the in-roads he would otherwise make with a lot of corporate benefits which are now probably hearing much more from members they want that version of weight loss than this one. >> well, there's weight loss and then there's nutrition. we're seeing more and more people who are going on these strikes, losing more weight than they intended especially your muscle tone can be affected, and then your mental health is affected on either side if you're not perceived as being as fit and healthy as you want to be. so they're trying to attack this from multiple angles and then you've got more of these health and fitness options adding in some of those drugs as they

become right comparable. have a good weekend. shares of the ecommerce giant alibaba, we will trade baba and other movers of the day in a fresh three stock lunch next. you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher investments. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different.

(sean) i wish for the amazing new iphone 15 pro! (jason) sean! do you mean this one - the one with titanium? switch to verizon, you can trade in any iphone, and get the new iphone 15 pro on them. (vo) trade in any iphone in any condition for a new iphone 15 pro on us. only on verizon.

welcome back, everybody. time for today's "three stock lunch." executive vice president is with us. also a cnbc contradicter. start, sir, with pfizer. the stock slipping a bit today. news regarding pfizer's $43 billion bid for a treatment for bladder cancer. sub suck s succeeding. >> not a big fan. down 30% primarily due to waning interest in covid-19 vaccines and boosters. the trend unlikely to reverse. meaning pfizer has to find new ways to, new drugs to add to its portfolio to try stem some of that decline in revenue. couple declining interest in fleet of covid-19 drugs including paxlovid, several

important patents rolling off the next couple years. right? others, a marquee for them, something like $5 billion or more revenue per year on its own out of the $67 billion to $70 billion guided for, for the year. they've really got to find an aggressive new portfolio to take the place of a lot of the drugs they have rolling off here and i don't think they'll be able to do it fast enough. >> leaving pfizer aside, what about baba, at tyler talked about. alibaba. china easing ownership limits. make you a buyer here? >> i'm actually not sold. right? how often do we see the chinese government trying to play nice and not far after that the tone changes a little depending who you hear from. right? the company facing several regulatory challenges unlikely to k to clear in my opinion with

billion dollar antitrust and anti-ma moply suits even if victorious on all fronts, unlikely. a big distraction. think about the ceo, new ceo of the tech, the cloud division, which was the crown jewel of the six null nuewly formed subsidia. a plan, ipo, returning capital to early shareholders maybe the division spin out and follow behind it. i don't see that one applying, that will actually happen, even if the ccp is able to place nice a little while and allow them to execute that master plea. it's not investable here. >> a company in a way, talk about it, feels like baba. ebay, and ebay-backed european classified company, and advinta. jumped the most receiving

ranking one of the year's biggest buyouts. m malcolm, what's your trade on ebay, sir? >> could be convinced to be a fan of ebay, primarily because they're a pretty good steward of capital. right? they've shown willingness to take that excess free cash they have. something like 24% excess free cash last quarter reported. actually return it to shareholders. right? in the form of buybacks and also about a 2.5% yield on that dividend. makes it attractive when you just consider that it's the only one of the more niche online retailers that actually is in positive territory for the year. compare it to something like etsy, down 40-ish percent for the year maybe, the only one actually performing positively in that online marketplace business. a lot what do with the fact that ebay's really just the only grown-up in that space. the one a little more seasoned when it comes to operating and i think if i'm going to choose one

especially as they make this pivot into online ad sales, ebap def ebay most attractive. >> clear argument. thank you very much. have a great weekend. malcolm etheridge, appreciate it. and if you cashed in by reselling your taylor swift tickets this summer, the irs might have somethingo tsay about it. we discuss that and much more, after this. so my best friend s you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcias, love working with you. because the advice we give is personalized, hey, john reese, jr. how's your father doing? to help reach your goals with confidence. my sister has told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial.

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only two and a half minutes left in the program. more and more people aren't paying off credit cards. credit card companies, delinquency rising fastest pace since the financial prices goldman saying losses increase into maybe 2025 when the economy's in pretty good shape. not anywhere near recession just yet. kelly, now losses on credit cards, 3.36% of 1.5 percentage points from the bottom in the pandemic. rising to 4.9 -- a trillion tlars dollars carried on credit cards. a long time to pay down a trillion? >> dismiss credit debt to income healthy by historical levels but delinquencies tell you something very different is going on. something to watch. moving on. according to morningstar, more

gfc funds closed this year than the previous three years combined. investors pulled more money from esg funds first half of this year than put into them. this is clearly a response, i think, to the difficulty of threading the needle on esg, number one. two, some of the political controversies that have surrounded the idea of ethical or esg investments. >> indeed. can we skip ahead to taylor swift? >> yes. >> do it. cashed in this summer by reselling tickets to taylor swift's "eras tour" brace yourself to pay taxes. a new law requires ticketing platforms like ticketmaster and stubhub give the irs information on those who sold more than $600 worth of tickets. average sold, $1,095. >> to a ticket to see taylor. >> on average. best seats going for thousands. this $600 thing, more and mere people realizing the things is a get them in trouble with irs. >> pay income tax on the money

collected by selling your taylor swift tickets? >> i guess. at game? >> the basis? how much i paid -- >> yeah. >> well -- >> watch the concession workers. i don't have time for that but wrigley field concession workers could be going on strike as our summer and year of strikes. >> thanks for watching. "closing bell" starts right now. welcome to "closing bell." i'm mike santoli in for scott wapner. post nine at new york stock exchange. a make or break hours begins with stock seeking firmer footing after a jarring week. major indexes struggling to stay in the green most of the day and the breakout in bond yields this week stokes the economic concerns. treasury yields calmer on the day. oil prices are quiet. coming up, citi out way new bullish call on meta. talk to the analyst about why he's optimistic about that name. brings us to our "talk of the take." our stocks close to completing a standard