>> it spreads to the lungs. now, os therapies. oh, stocks on the nyse. american is reporting immunotherapy trial results that could lead to a 2025 approval ost grandfathered into fda's priority review voucher program. revenue could reach $500 million. os therapies stock symbol osx. >> and welcome. >> to power lunch, everybody. big money, huge companies, stocks soaring. and it's all welcome to power lunch, everybody. it's all about stargate. our question about stargate is is what is it and why should you care? we're going to dive into the story. plus, will it create jobs? because we need them. especially in manufacturing. and holy squid games.

netflix investors printing money today. we'll compare the move to the billion dollar mistake blockbuster made years ago. >> netflix doubled the subscriber count. an amazing story. speaking of stargate, that's boosting tech stocks today with the nasdaq up 1.3%. s&p 500, up 1.7. the dow for its part contributing about a quarter percent today. oracle is a huge beneficiary of this project. the stock is up 15% in two days, making it its best two-day stretch in more than three years. microsoft, nvidia, they're directly involved. and amazon now says it's buying 600 acres in ohio for its own data center. also, check out crh. they could be the biggest beneficiary of this as many data centers need to be built and more infrastructure and materials, brian, need to come in and support that. the stock is up 1.5%.

>> we've got a lot to do, but we're going to begin with stargate and no, not the 1994, pretty underrated sci-fi movie starring kurt russell and james spader. this stargate is a supposed $500 billion infrastructure project around artificial intelligence. it was announced by president trump today. but let's be fair. this project has been at least partially in the works for a while. it's going to be, there's going to be a lot involved. it's going to be built by and funded by and financed by and occupied by companies like oracle, nvidia, microsoft. it's openai arm. arm holdings and soft bank, the founder at the white house today. why are these and so many other stocks moving higher on this news, which may not even

entirely be that new? steve kovach here to break it down. also here, managing partner at dcla. great to have you on. we're going to get to your '90s movie trivia in a moment, but steve, is this project brand-new? i don't think it is. >> yeah. no. and so, huge numbers, right? $100 billion. maybe $500 billion. that's all great. all these promises of spending, but we've been hearing about this spending for months and months now. we knew these companies were poised to announce all these kind of big ai infrastructure projects that includes this stargate project that was just announced yesterday. trump got to put his own flavor on it and give the backing of it, but again, this was, has all been in the works for a long time now. by the way, elon musk, one of trump's best friends, reportedly getting a spot in the west wing, an office near president trump, he kind of poo pooed this idea

saying that softbank doesn't actually have the money to do what they want to do. by the way, andrew ross sorkin had satya nadella on this morning talking about where this money is coming from. here's what nadella said. >> look, all i know is i'm good for my 80 billion. i'm going to spend $80 billion building our azure. customers can count on microsoft. >> let's do some perspective. about 40 billion of that has been designated for the united states. we knew microsoft would be spending this kind of money. this isn't necessarily for stargate. towards just owned azure data centers. by the way, microsoft is kind of the loser in a way because they're losing their grip on openai. part of this stargate deal is that they no longer exclusive

cloud provider for openai. that means openai has to go to microsoft first and say we need this data capacity for what we want to do. and microsoft can say we don't, we can't serve you. that's why we saw sam altman standing up there yesterday. it's because he needs this data capacity that microsoft can no longer provide. for the last year, we've heard from nadella saying things like we don't have enough capacity to meet demand. now, we're seeing that in action. we're seeing openai spread its platform out beyond microsoft. >> wait a minute, big problem for microsoft, the shares are up nearly 4% today. we'll get into that in a second. some view this as a win-win. but stargate is a super computer. could have a million gpus and is meant to keep us ahead in ai race. >> this is nothing new or novel, by the way.

elon musk built the clas as super computer in memphis, tennessee. raised a boat load of money to do this. we're seeing the same kind of spending and fund raising coming from these very wealthy companies in order to make that happen. this is how they compete. by the way, now, musk is behind. he only has the one data center. >> really, what this is saying is they're so much ahead of us that every company, if you have the technology and the wherewithall. what's to say softbank's going to go raise more money. get lps to raise more money. i don't think capital is the issue here. it's the question who have gets there first and how fast. >> can i ask a dumb question? what is the return on investment for the private sector with this big super computer stargate initiative? if it were company by company, i would understand. competitive arms race. when they're all working together, what's the goal? >> who are you going to sell the processing power to.

that's where what companies want the fastest processing. whether it's themselves or competitors or large industry. >> just one second. steve, i want to go back to you quickly. we know that this is not all entirely new, but you heard satya nadella say i'm good for my 80 billion. i think, we're going to editorialize, i think why these stocks, more are moving, is because when you have the president of the united states full faith and credit in the united states treasury saying we're all in, you don't have to worry about the capital because it's not about the 80 billion. it's about the taxpayer backing this. at least theoretically. >> so much of this investment already planned. again, not a surprise that they were going to spend tens of

billions of dollars. >> microsoft sort of openai super computer, let's build it in texas, that was already planned. for softbank to be involved. >> that is new. that is new. and by the way, who are some of the other winners here now that openai is open for business for lack of a better term here? that's because they can go to amazon. to oracle. satya nadella last year said when they build these data centers, about half of the cost goes towards compete. nvidia. hp enterprises. all the guts of these data centers. the other half is the land, the construction, and things like that. so that's where the money's going, really. >> the one thing you want to make sure, you're not playing favorites here. it was microsoft who was in there first. if you want to look at it as a capital market, why are they the only one? now you're getting all the other competitors. >> sit tight. we're not done with this

conversation. to me, the story may just be oracle. let's bring in another voice into this conversation. talk about sort of the microsoft impact on this because they're not the only ones involved. a lot of software angles. michael turran from wells fargo. thank you for joining us. is this not just a microsoft story and if not, what does it mean for microsoft and who else might it be relevant from an investment angle to? >> it's clearly not a microsoft story, but investors have been growing fatigued around microsoft at what we think is the wrong time. also, seven years to reach critical mass. ai is moving faster since chatgpt took the world by storm and azure is a $10 billion plus business. what's clear is no one's blinking at this point.

all of the technology -- technology, the bigger risk is not participating. microsoft maybe should be opening to leadership position. >> michael, i think, i was going to say i think your note really put a finger on it as well. it was so surprising. we have this big, splashy stargate announcement. oh, by the way, openai is not going to exclusively use microsoft. then you look at shares, and to your point, the shares are higher. they get the right of first refusal. maybe that's a really important point to make here. they can say we don't want those workloads. maybe they're not as consistent or profitable. maybe we can reduce our capex. that's why you see this as kind of a win-win. >> yeah, two important factors. one, the relationship until 2030. meaning microsoft gets access to all of the events that openai is

embarking towards. it's like -- that's important and then the right portion of that is very important because it means that microsoft gets a look at what they're using their infrastructure for. if it's for training purposes, those are up front uses of their capacity that microsoft might be for. their ability to evaluate and other uses is what we're into. i think it's important. it seems like the biggest bottleneck everyone is expecting to face, so microsoft and openai is somewhat acknowledging that. microsoft having that is very important. >> i know michael does not cover oracle, so i don't want to ask him about oracle. does cover salesforce. maybe they're involved somehow. are you shocked at this oracle?

oracle stock has been like the nvidia of 2025 so far. i mean, or i thought oracle was like a boring old database company. >> and we own oracle, so for full disclosure. >> i didn't randomly bring that up. >> i know. but oracle has changed their whole business around. it's not just the old databases. they're using ai. they're using analytics and they have the ability to do all this. so i think as a partner, you're using complimentary companies and oracle's one of them. they're going to be a beneficiary of this. stock was up 40% last year, too. they've turned their business around and i think as a partner, that's where they're going to benefit. >> i wonder quickly on this, we talk about arm holdings, now that stock is up 45%. >> and arm has the royalties that they're going to get with these chips being used. really, what you're seeing is nvidia, arm, even amd. it's such a big market at this

point that you're already paying for the future but these companies are making real products. and the demand is so big. all the discussion we had with nvidia for today has to be put at rest because now you've got future orders. >> his son is on united and that might be the most valuable trip he's ever taken. going to the white house. because softbank, he's also chair of arm holdings. >> they're the majority owner of a stock that's up 45% this year and 16% today on that announcement. >> going to the white house. come out with a couple billion. >> more than a couple. that market cap is probably. >> michael, you're out there, wells fargo software research analyst, thank you very much. appreciate it. moving along, our next guest says a partnership this big will need a significant amount of power. computer power and electric power. he says it could be good for the

bitcoin mining industry. hope i got that name right, brett. just before i dive into the bitcoin angle here, what is the power need you foresee because we're hearing reports to power something that could have a million gpus, do you have to get nuclear involved? does texas have the capability for that? >> the issue is nuclear, over the short-term, it takes a while. there are a couple of companies that are maybe ten years out. you've seen what microsoft is doing with three mile island. that's five years out. this project is going to spend $500 billion over the next five years. you're not going to get nuclear before that. so the question is where do you get the power that you're going to spend $500 billion on. if you run the math on ai data centers, it's $12 million a megawatt of just capex to build it. that does include the gpus, looking at blackwell. around $30 million a megawatt. so $500,000, you're going to need anywhere from 12 to 14

gigawatts and that's the crux of the issue. you can spend all this money on gpus, but if you look at the data structure in the u.s., it's only 21 gigawatts. that's over 21 years. the power density on those racks is maybe less than 20 kilowatts. and that's the crux of the issue is blackwell's need 60 kilowatts if not more. so you can't use legacy data center so you need 12, 14 gigawatts of new power. >> i'm curious if you can rattle off publicly traded names, whether they're the minors, moving today or being direct beneficiaries. >> if you look at this project, they want power at scale. that's what the minors have done very well is neck to the grid. you know, one is riot. riot has a gig watt site in corsica. it's about an hour from dallas.

star lord took a state wanting to push into ai. they said we're going to stop our bitcoin mining development and evaluate this opportunity. that's one we really like off the back of it because we don't think any ai optionality the priced in. then iron, they have a 1.4 gigawatt site that is arguably the biggest site, single site from a pure power perspective. from the mining perspective, it's very advantageous for them to get in on this market because institutional investors, what they're going to pay for a bitcoin basis versus a data center type of multiple is night and day different. >> i know paul prager has been a guest on with me, with you. i want to put these numbers into perspective. because we're alking about electricity, it's confusing.

we've seen the movie, back to the future. where he gets hit with the lightning, 1.21 gigawatts. the professor sends him back in time on 1.2. roughly, a gigawatt is about a million. very rough. call it 750,000. so what brett is talking about is 10 to 15 million homes worth of electricity that we need to build these things, so what happens if you don't have that? what happens if none of this gets built? >> electricity prices are going to be extremely volatile at this point. whoever's paying the highest is going to get it and we know what that causes, too. so i think a lot of this is going to happen. it's just going to take longer than we think it is. so we need to be careful they're not going to run into some of these things because everything needs to work accordingly.

>> quickly, brett, so we know microsoft, we don't know if three mile island, the new plant is going to reopen, but if it does, microsoft is going to pay somewhere between 100 and $130 per megawatt hour. put that in perspective. that's about four times the average utility cost for power. basically, they'll pay anything to have that power if they turn that nuclear plant back on. assuming we get all the stuff from iron and others, are they just going to print money because somebody's going to come in and pay whatever they want for that power? >> it's a market, right? right now, we're in a constrained power environment and those with power are the miners. you look at terra wolf. they just signed a deal with core 42, owned by g 42 backed by mdx, which is a part of stargate. so you can say terra wolf is going to be providing compute power for openai. i think the market is missing that. but in this point this time, the

rates will probably go higher just because if you want to plug in blackwells today, you don't have many options so you're going to pay north of $130 north of a kilowatt or megawatt hour. that is a very attractive proposition for these miners. >> fascinating. thanks for your time. >> all right, so we've got a lot more to do here on power lunch and after the break, is megacap a trap? yes, the s&p hitting an all-time high. big names, they have been delivering, but investor fears not disappeared. a lot more to talk about what could be a megatrap ahead. ap tr. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪

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let's say you're deep in a show or a game or the game. on a train, at home, at work. okay, maybe not at work. point is at xfinity. we're constantly engineering new ways to get the entertainment you love to you faster and easier than ever. that's what i do. is that love island? 3835. >> all right. welcome back to power all right, welcome back to power lunch. earnings growth versus macro concerns. kind of a balancing act as many

investors are focused on. netflix, you might remember them for top shows like this one. they had an amazing earnings number last night and netflix stock is soaring today and they're leading the s&p 500. the dow, nasdaq and s&p, they're on track to post gains. largely thanks to a big boost from some tech names. we have our friends here. joining us is director of research at fbb, mike bailey, and sarratt. mike, you're nodding, smiling. netflix is great. i'm not taking anything away from netflix. is netflix though representative of the macro market? i don't think so. >> it is a bit of an outlier. so great company. we own it. in our firm and exceeding expectations. that's great. however, if you put that in the context of everything there else, there's a few company-specific things helping netflix out. we congratulate them. it's great.

it's a good position, but you've got to stay diversified. own a little bit of everything. not every company is going to have massive blowout quarters like netflix. it's a good company. it is an example of a broader theme in tech we're seeing, which is general, underlying growth. economy's doing well. people have jobs, they're buying things. that trickles down. good to see it and seems like we've got more on the way. >> so, i think that's interesting question we were debating last hour, mike, whether you should be going into small caps. the argument is evaluation is cheaper, s&p is overpriced and how does that kind of jive with you? >> good question. i think in general, we would stick with larger cap companies. the real critical piece for us is the earnings growth. if you were to break out every company that's out there and say, okay, who has the greatest opportunity to meet or exceed what investors are looking for as far as growth? at this point, large cap really

grabs our attention. small caps, absolutely. they're trading a little cheaper. if there's some type of short economic cycle then a recovery, that's a good way to play it, but if you want to own things longer term or have high conviction that these companies can set a goal and exceed it, at this point, large caps seem like a much better place to play for us. >> i want to have a little conviction. i don't want to have low conviction. we talk about the same names all the time. because they're performing. there's thousands of companies out there. >> there are a lot of companies that are missing because where we focus on is the -- >> nvidia. >> the ten stocks that make up 50% of the market. that's the one that most people are either invested in or interested in. you can look outside that universe and there are plenty of other companies. in the energy patch, schlumberger which is selling at nine times earnings and has a 3%

dividend. a company like that which has 5 to 7% earnings growth if not more. >> i was going to say. mike, any that you would mention? >> yeah, definitely agree. i think a lot of the excitement is kind of sucked up into those top ten names in the s&p 500. there's some great names there, but plenty more after you go down the list. some other things where you are getting nice growth. there are companies that can meet or exceed. it's a little bit down the list. eli lilly, a drug company that has nothing to do with ai. that's totally fine. it's growing two to three times faster than the broader market as far as earnings and trading at a higher premium. that's something that looks very interesting. we can stick with the ai theme, but diversify even more. speaking of energy, next era. it's utility. getting involved in wind and solar. trading at a big discount. some are worried that companies like this may have some challenges with the new

administration. this company in particular, same multiple as trump 1.0. next era did very well in the first trump administration. so a lot of names out there beyond the top ten. >> next era, do you worry given they're the biggest renewables producer in the united states? >> not really. i think it's really about what are the expectations. i think the company's set reasonable goals and looking at high single digit earnings growth. that's what they did in trump 1.0. i think that's reasonable. could it be faster if they have better regulations? maybe. setting a reasonable goal and really executes on that, there may be some noise and political issues coming out there, but again, they've done a very prudent job of laying out some of their projects. they've got a good ability to do that and companies like that trading way cheaper than the s&p. it's a pretty compelling idea that you can own the megacaps and that's fine. you can also work your way down the list. very nice growth. could be a little choppy, but

will be pretty compelling as you look over the next couple of years. >> mike bailey, fbb capital partners. mike, really appreciate your views. love it. sarat, you're going to stick with us the whole hour, right? >> i am. glued to the chair. >> literally. >> bloomingdale's closing its flag ship store in san francisco. it's just the latest hit for the bay area and we'll have more details ahead on power lunch. >> do you have an old, outdated bath or shower? but you're afraid of the cost and the hassle of a lengthy remodel. maybe you're having trouble stepping over a high bathtub and just feel unsafe. whatever your reason, your bathroom is

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>> davos 2025. andrew ross sorkin and sara eisen sit down with world business leaders on the geopolitical outlook and key global economic issues. the ultimate power summit special reports all day cnbc. >> welcome back to power lunch with the nasdaq leading the way welcome back. with the nasdaq leading the way up 1.3% on the back of real strength across the chip and tech sector, don't overlook a new high for the s&p 500. hit 6100 for the first time. the ten-year rising above 4.6%. we had a 20-year auction last hour. rick santelli in chicago with the details. rick? >> yeah, it was a very solid 20-year auction and we're going to learn something by short maturities. let's put twos, tens and 30s on the same child support going back towards the 17th. what you'll notice is that two years have taken the lead.

that implies at least according to many of my sources and my own opinion, too, that it's telling us there's going to be less easing. that might sound like something we know already, but it really is reflected in the market as the short end has taken over. and over the last session or two, what we've also noticed is if you look at the spread, when the twos overtook, it affected the yield curve, bringing it down. flattening it. but the last couple of sessions, it's been going sideways. put all that together and then add in 457 is held. that was the settlement for ten-year for 2024. we held it. all of that, many traders believe, interest rates have turned the corner. and they're going to be doing a little bit more towards the upside. we never traded below that 4.5 level and we consider that we had some dramatic moves in tens and 30s. not that many sessions ago.

we touched 5% in the 30 and it came back down and consolidated. with that in mind, what we need to pay attention to how next week's auctions is going to affect the psyche of investors as yields seemed to have hit a bottom in 2025. back to you. >> on deck, a very serious story. why is everybody suddenly so sick? scott gottlieb joins us on that and more, next. >> nothing stands still. not technology, not the market, and not franklin templeton. we've been a firm in motion for over 75 years, always innovating. today, we're a leader in public and private markets, digital assets and custom tax

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for all those making it big out there... ...shouldn't your mobile service be able to keep up with you? get wifi speeds up to a gig at home and on the go. introducing powerboost, only from xfinity mobile. now that's big. get to use every day. >> welcome back to power lunch. i'm angelica welcome back to power lunch. nashville police say a 17-year-old opened fire today in the cafeteria of a local school, killing a female student before taking his own life. according to authorities, one other student suffered a graze and is in stable condition. police say there's no longer any danger at a s.w.a.t. team that has cleared the building. the royal navy tracked a

russian spy ship that passed through u.k. waters. he said the ship is used for intelligence and mapping critical infrastructure on the sea floor and promised a response to ensure russian ships and aircraft cannot operate in secrecy. and the nba postponed tonight's game in new orleans after an historic winter storm dumped about a foot of snow in the city. because of its subtropical location, new orleans doesn't have a lot of snow removal on hand meaning a number of roads are shutdown for safety reasons. back to you. >> thank you very much. take a look at shares of moderna, which are rallying get again today. analysts excited by a $590 million investment by hhs to develop a bird flu vaccine. that comes after months of uncertainty. the past few months, they're down 126%. jnj around 12. one reason could the hhs pick

rfk junior, could the entire pace being facing an overhaul? joining us now, dr. gottlieb. anything you would say on moderna specifically? >> there's concern that the existing vaccine that they have for bird flu may not be effective against the current strain. the one circulating with different than what the vaccine was designed against. i think it's an open question whether the administration would actually go forward and stockpile a new vaccine, but certainly moving forward with the development i think is prudent. >> have humans, americans, yet taken a bird flu vaccine? is this something novel or have we been here before? >> we haven't distributed the vaccine. there's old vaccine stockpiled and there's some discussion about whether it should be deployed to dairy workers because they've been in contact with cows that have been affected. this epidemic has been in dairy cattle in the united states but the decision was made not to

deploy it because there was concern it might not be effective against this new strain. >> can they work quickly to develop one that is? like with the flu vaccine, sometimes it works, sometimes it doesn't. >> there's a number of these vaccines that are in advanced development. including by pfizer. there is an effort to try to develop new vaccines that are more closely formulated to this strain. >> a friend of mine, if you're watching, i love you. diagnosed with stage 3 cancer yesterday. close family members of mine have had it. good buddy of mine just had a stroke. he's nonverbal. buddy of mine was in the hospital for three days. just got out a few days ago, rsv, pneumonia. we're all getting older. is it just me or is everybody sick? like, the level of rsv, pneumonia, strokes, breast cancer, "new york times" did a story on breast cancer. spiking. can you give us an answer to

why? you know what i'm going with this. a lot of people point to covid or the vaccine. what is it? >> we don't know is the answer. some cancers are going up. you're right. colon cancer in particular. the instances have been going up. right. so we don't understand that. some people believe it's related to changes in the u.s. diet. as far as the infectious diseases going around, we have had a difficult season with flu, covid, rsv. those look like they're going down with the exception of nor nor virus. we don't have baseline immunity to it. the incidence is probably 2x what it was in the last five years. there is more of that going around right now. >> did we hurt ourselves in some ways by avoiding stuff for so long that now these super bugs have been created?

otherwise, i'm just not sure what's going on. >> with the flu season, rsv, and covid this year, the levels of infection weren't out of proportion to what we've seen from historical norm going back maybe ten years. there was a rebound after covid because people with sequestered and a lot of these pathogens circulated. i think we're getting back to more of a normal baseline for these viruses. >> question. you know, after covid, i'm not saying everybody did get vaccinated and there was a pushback against vaccination. are you seeing now people going back to get more vaccines or are they saying hey, i'm not taking anything? have you seen any data? >> the data we're seeing is that vaccination rates are going down. particularly for childhood immunizations. we've seen growing outbreaks of those infections. i think we're at a tipping point, especially with the mmr vaccine, where we're getting to

vaccination rates that are sufficiently low that if we lose another 5% in terms of the percentage of kids who are vaccinated, we could see larger, more distributed outbreaks. we have seen a growing antivax sentiment. people who had to choose between a vaccine and staying employed. >> and i want to give you a lot of credit, doctor, because you're here. you're not hiding. you're answering some tough questions. i think when you have people who go in the hospital because rsv, all these weird noro viruses and all this crap is going around and breast cancer rates. "new york times" did a story on it. about how breast cancer rates are soaring. i dealt with it, i'm not going to go into how, but it was damn close to my family. very close. and i had my own challenges. i think that a lot of people,

how do we reinvigorate confidence in medical science and vaccines? how do we tell people, made mistakes, we know we did, but it's going to be okay down the road. how do we do that? >> you're right. a lot of that is post covid fallout for mistakes that were made i think during covid, and i wrote a book about this. public health officials weren't always upfront and very candid with the public. i think there was a fear if the messaging was too complex, the public wouldn't understand. so would try to instigate the actions you wanted where masks get a vaccine. they oversimplified the message and didn't get sort of a fulsome explanation of the pros and cons. i think the issues around the seasonal viruses that are going around are different than the issues around cancer. we don't understand why cancer rates are going up for certain cancers. not everyone cancer. >> colon cancer. a lot of young men. and then breast. >> and younger cohorts.

>> also, i have a good friend yesterday diagnosed stage 3, you know who you are if you're watching, i love you, you're going to be fine. it's a scary thing. >> it is. the issues with the seasonal viruses aren't out of proportion with the exception of noro virus. the issues around cancer are a separate issue. >> i was going to ask about rfk taking office. >> he's been clear about his intention to try to reduce the utilization of certain vaccines. he's skeptical of the mmr vaccine. pertussis. i think for the companies that manufacture vaccines, there could be some pressure. these are, for the most part, these aren't big products for a lot of these components. there are exceptions. i worry that if there's enough

pressure and if these companies get opened up to liability again, you could see companies start to pull out of the segment. particularly around mmr and pertussis. >> imagine if they felt concern about liability and therefore, didn't provide or gave any indication of pulling back, which might then lend more people to get it. >> that's the challenge we face. i think that is the challenge that these vaccines save a lot a lot a lot of lives. but if there are people that had adverse effects and the data seems like there is, okay, and if these companies, it's not a plans. >> there will be no more investing. the private sector. so the public sector would then have to do it, which we know what happens. >> we've seen over the last two decades a real renaissance in vaccines. when i was in the fda in the early 2000s, a lot of manufacturers pulled out.

congress passed the liability shield in the '80s. companies started to get back into making novel vaccines against pathogens we didn't have vaccines for. so there's been a lot of invasion over the last 20 years. we've vaccinations against hpv. we're on track to maybe eliminate cervical cancer. we want to see that innovation continue. >> thanks so much for your team. >> we're going to change gears after the break. san francisco, one of america's great cities still struggling. you've got to hear this story when we come back. crypto.com is (♪♪) the booking app i used didn't have agentforce. so an ai agent didn't know to move my reservations inside... ...or know what i like to eat, which is not that. what's up, my brother?

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omni luxe ledcom. time now for our three stock lunch, w time now for our three stock lunch where we trade on some of the big movers on their day of earnings and our trader today, it's sarat. good to see you. how you been? been here all hour. netflix hitting an all-time high. blockbuster video, by the way, they could have bought the company, netflix, for $50 million in the year 2000.

file that under another mistake blockbuster made. >> every metric, they just competed. cash flow, in terms of subscriptions. they're going the raise prices so they're doing everything right. the stock is reflecting that. it is the premier streaming play and you know, rightly so deserves. >> so you like, you can still buy it, own it here? >> i would not buy it at these levels because i think it's fairly valued. it's one of those stocks like in the top ten. so in a pullback, which does happen when the market pulls back, that's when you can add to it but not at these levels. >> to johnson & johnson, which is lower despite having fourth quarter sales and profits top wall street estimates. that was thanks to strong sales for its cancer treatments. >> this is where if dr. gottlieb was here, we would talk about the overhang. historically traded between 16 and 17. it has a triple-a balance sheet. it's going to grow earnings.

it is just out of favor. just as most of the other stocks are. we own it. we like it, but until you see a catalyst in the sector, i don't know what will happen. but as a value/biased investor, i like a company like this. >> finally, travelers after they posted a record breaking fourth quarter. net income increased 28% year-over-year. but i'm not sure, people have got strong views on insurers, too, sarat. >> look, earnings again, very strong. what you have is a great tailwind that they're going to be raising pricing. they're going to be making more money in the future and the question will come, will they be some type of regulatory pressure in terms of how you raise prices. again, this company did very well. >> i have a whole thing where i want to own, i think everyone should own the stuff they hate paying for. have to pay your insurance bill, whatever it is. >> buy gas. >> just own all the fossil fuel

companies. just recycle your cash dollars. >> or utilities if you have an ev. >> that's right. we hate to part with that money. get on the other side. thanks. you can always catch our podcast. just find it on any platform you st to. search for power lunch and we'll be right back. vodafone italy. today you're the ceo of vodafone. what is your strategy and vision for the future? >> we are changing our. culture to really focus on our customers. we need to. >> acknowledge that. >> change is hard, but if people understand. it's for the right understand. it's for the right reason, then (♪♪) car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here. (♪♪)

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arrggghh! ahhhh! [crashing sounds] we had everything we needed. is the internet out? don't worry, we have at&t internet back-up. the next level network for small business. ♪♪ i sold a pillow! we're going to wrap it up with this. we'll end on a high note. there's macy's. they own bloomingdale's. i love san francisco. we all love it. it's a great american city. yesterday, macy's, which owns bloomingdale's, announced the biggest mall in san francisco is shutting down. okay? now, i was, if you remember a year and a half ago, i was in this mall. that's video i shot. >> not a lot of people there. >> that's sunday afternoon. there's no one there. >> is this a bloomingdale's problem or a san francisco

problem? >> it's a san francisco problem. i think, and people say san francisco is coming back, i sure hope so. but the announcement of the closure is not a good sign. >> have you been there lately? >> i have not. but it's also endemic to companies like macy's, where if the city isn't getting a lot of traffic, the store isn't. things. >> again, we don't know. i think the question is, is this a bloomingdale's or macy's problem or san francisco problem? a good one? assure you the rest of my video walking around the mall, no one in the entire mall much less -- by the way, michael kors yesterday announced they're shutting down. >> there are other malls that do well. it's not just a mall issue. >> i think it's a san francisco issue. >> also work from home question. seeing a lot of, amazon back to five days a week. trump is pushing in that

direction but not all the tech world for shoe. >> it's financial services also. >> fair to say. we want san francisco to win. >> of course. a new mayor. i feel we need a final stock ticker from there or something. >> you asked the question. what else do you want to look at? >> companies in financial services to buy. morgan stanley, blackstone. things like that. companies do well other than the top ten. doesn't mean you can't own them. >> thanks. "closing bell" starts now. and welcome to "closing bell." i'm scott wapner live from post nine at the new york stock exchange. a big day from big tech. a.i. trade taking center stage again. certainly helping the nasdaq today outperform other major averages. fueling the s&p 500 today. heading towards a new record close. watching that closely over this final stretch. 6090 the old one. above it now. see what we do over the last