yesterday. it by the end of the session might be at another new high. but it's down about 14 so far this morning nasdaq off a little. there's the ten year we had bullard on. he didn't sound like he necessarily thought there was going to be that many more cuts if any. make sure you join us tomorrow, the first day of andrew's next year until next year. >> thank you everybody. thank you for the birthday wishes. >> and the and the crew. make sure you join us tomorrow. squawk on the street is next. >> happy birthday andrew. >> good wednesday morning. >> welcome to squawk on the street. >> i'm carl quintanilla. >> with. >> jim cramer here. >> at post nine of the new york stock exchange. >> david faber. >> is on. >> assignment pre markets a. >> little soft. >> coming. >> off those all time highs as the. >> president teases. >> once again those 25% tariffs ten year yield about a one. >> week high. >> today 45 seven. our roadmap begins with this new tariff threat. the president signaling those levies on cars,

semiconductors and pharma. apple is expected to unveil a new product this morning. we're going to get you ready for that. and shares. >> of toll. >> brothers, under some pressure pre-market following. >> an earnings miss. >> let's begin, though, with the markets following another record day for the s&p and the nrdc's. jim, although the percent of components constituents at 52 week highs is pretty low. >> yeah. i mean, there was a really an incredible program in the last seven minutes, was out of high growth and into value. or some people would say value growth. it made no sense that i could tell the market was very thin. i think people have to recognize that it wasn't manipulation, but it did seem strange and wrong. so i almost want to use the word phony because the market was bad yesterday. it was bad yesterday, the last five minutes. and i'm trying to do my show and i'm like, i always like to put at the beginning where we are. and i had rushed up at 504 to interview a guest. market was down and it turned out i had to redo everything. the market was up. so, i mean, we take this with a grain of salt. i think a

lot like a lot of things we have to take with a grain of salt right now. >> what do you make of some and some desks pointed this out this morning. >> some long. >> time popular longs underperforming. we saw meta's run and now applovin reddit netflix spot. what do you make. >> of that? >> these are favorites. they're long favorites. they've also been embraced by retail. and now some of them did not have a quarter that people wanted to read. it did not have the quarter, but applovin was a spectacular quarter. more than 5 to 700 billion, 800 billion in ebitda. i mean, they're like doing incredibly well. but anything that had been up huge really got clipped yesterday. i loved the spotify quarter, but they got clipped and then the money kind of rotated back to some stock, like there were retail stocks that were up that looked pretty good. i saw some some pharma do well, although merck is maybe the ultimate laggard. i don't think i've ever seen merck perform this badly. and here's the stock distinguished from the company, which actually got hurt by a

decision by the chinese to not give their people 200 million vaccines in gardasil and rfk. maybe it's kind of a reciprocal thing, right? i've been joked to my brother. it's a great vaccine. you may not like vaccines, but great vaccine. and the chinese have chosen not to use it. they have it. and some of it's with a wholesaler that apparently merck can't give any more to because not enough money. but that's the one that i'm keying on as being that used to be called saint merck. and i know it's not high growth anymore, but wow, i think it's worth looking at because it trades like a bad ten. >> worth looking at in the in the way of potentially buying some. >> no, in the way of like what's really going on with some of these drug companies. the loss of they have a loss of exclusive exclusivity for unbelievable. >> drug. >> to keytruda. but it's not for years. this group is the only one in this group that acts at all well is lilly. and i do think that when you're meeting with the president, it no longer is positive. the drug companies

meet with the president. it's like you don't know what he's going to say. >> after you did have some thoughts on what a tariff on foreign pharma might mean for lilly yesterday. >> and meanwhile, novo nordisk is up. they would be the one that would be most hurt. they make their stuff overseas and eli lilly would be helped. but the market is not rational or doesn't believe the president. i mean, the president. i was watching frank like i do every morning. frank holland and what the japanese car companies were up. well, this is devoted. i mean, i have a source, the source, the administration. and i said, you guys thought about why you're you're not even tariffing all these cars that are coming from japan. next thing you know, say it here comes out there was a little strange, interesting. it was kind of wow. >> so you. >> think come april. >> 2nd. >> this all actually happens. this is no. >> longer those who don't don't go to mar a lago and say, you know what? look, we need a little time, but we're going to build a plant in talladega, and we're going to build a plant in bristol and make it a little like, you know, racetracks. yes.

and then they get it. and then there's no tariff because the president's always saying, listen, i mean, he's actually being pretty rational. we don't think he is, but he is. he's looking at places where we have big trade deficits. and just saying this has to end. and the only way you can end it is to build things here. and this is what the chinese did to us. a lot of countries did this to us. so he's just asking when he was on the tour with the campaign, he would go to a lot of cities that were burned out that used to have plants and say, listen, we're going to bring the plants back. and everyone said, well, you really can't bring back manufacturing. well, he's doing it. he's doing it by threatening companies that have had really had a great run with us. it's all what he said. i mean, you know, you get what you pay for. you got this president, you voted for this president. this president is doing what he said he would do. and we all act as if like, holy cow, what? whoa! you've got to be kidding me. well, no. go to these towns in pennsylvania and ohio that he talked at the fentanyl towns where he said, we got to bring

the manufacturing back. that's what he means, right? >> and until that manufacturing actually starts producing product off the line and we get these tariffs, he's sort of just going to chance the idea that inflation doesn't rear its ugly head again. >> yeah i think he is i think he's been saying look if you look at mexico i do some business in mexico. the peso fell apart so suddenly we had this windfall from the peso kind of wanted to do more business. and then we got the deadline. had to ship everything up really quickly. people don't realize that the currency sometimes is adjusting, and there's a lot of it's much more difficult than people just think. and now it's not with peter navarro, you know, who's really in charge. i think of much of trade because what he's saying is, look, okay, nucor is getting hurt by steel dumped in china, dumped from china and mexico. so let's stop that targeted tariff. if you're not in favor of targeted tariff where there's got to be some fair trade, i think you're just willing to have nucor go to 80 or like get wiped out cleveland

cliffs. so there is like there's targeted that's navarro. and then there's this kind of like broad broad based blunderbuss of we got to solve the problem of why nissan doesn't have more plants here. and i don't think it's so irrational. it just comes out, it comes out a little rashly and it comes, and then it's lumped in with the some of the ukraine things that i kind of don't want to talk about, because they seem a little. >> right. >> well, you got that. >> you got you've got the. >> government layoffs, right. >> yes. >> and we're going to talk about the doj's effort in a moment. and then you've got, for example, this reuters poll this morning, wrong track economy was 43% in january. it's up ten points in a month. >> yeah. well no i mean we had a january was tough. and by the way i know toll i never like to talk while the conference call is on. but the statement yesterday mixed spring selling season not up to their own. their best dollar. the dollar price of a toll home. i'm embarrassed to say it's 220.

sounds like it's how could it go down from a million. but it went down a lot. and doug yearly, one of the great ceos i happen to like him personally because he's from right where i'm from. and one of the things that just dazzles me is this is the first time. the first time during this whole run where they got hurt. yeah. and people have to understand toll makes really. >> good homes. >> i know we. >> talk. >> about this a lot. in fact, this is yearly on the call. take a listen. >> although demand was. >> solid in our first quarter, we have seen mixed results so far this spring selling season. while demand has remained healthy in many of our markets, and particularly at the higher end affordability constraints and growing inventories in certain markets are pressuring sales, especially at the lower end. however, all that being said, we are somewhat encouraged by our sales activity this past week. against this backdrop, we are carefully. >> monitoring. >> our pricing and setting and

spec inventory on a community by community basis. >> and then of course, yesterday, jim, we had nahb six month future sales expectations, second biggest drop. >> on record. >> look, i think that in some ways the fed's getting what it wants. now, i know we have the minutes. i always discount them because they're from so long. >> we'll get them today. >> yeah we have fresh economy every day. i love doug and i said that but i don't want the week to week. well you know we had a great saturday in the morning and saturday was dynamite in the afternoon. it was. >> it was really good. >> let's get away from that. i want to stick with his what he said, which is that things are changing, not going in the right way there. you know, there was. when i take a look at what's going on in housing, if we don't want the lower end to start doing worse. now, when he says the high end is doing well, what happens is the high end happens to be located where there are a lot of jobs. the lower end tends to be located where there's not as many jobs. so it's to have the, you know, the haves get it.

now i want to hear from horton because they're all, you know, their homes are very inexpensive versus toll. but these these stocks are going they're signaling look out. the mortgage rates are way too high. but at the same time when you when you're with all these business executives that i was at the super bowl. oh my. i mean. >> you went into this last night a bit. >> oh my. i mean, i'm talking about people were just saying, look, let's just tell you something, jim. this election occurred. we didn't expect it. we didn't even like the guy. but, wow, business is so good. we like the guy. you know. >> that was the tone at. >> the game was the tone, and it was the tone for every industry. it didn't matter. and it's not look, there's the super bowl is a lot of conventions, especially when it's in new orleans. i'm talking about every single line of work. people saw a huge expansion in business except for homes. >> right. and that's that's rates as well. and it gets to why there's not a lot of churn in the labor market, which we'll talk about in a bit. we mentioned earlier, doge eamon javers has been following that

interview last night on fox with the president and elon musk. morning eamon. >> yeah. good morning to you carl. it's extraordinarily rare and maybe unprecedented for an american president to do a sit down television interview side by side with anyone else. and when that has happened, it's often been side by side with a former president. but that's the status that president trump granted elon musk last night. in a rare side by side interview taped last week with trump supporter sean hannity of fox news now, musk referred to himself simply as tech support for the administration. he was wearing a t shirt that said the same thing, saying he's just. trying to. >> be useful. >> and trump explained why he sees musk as so valuable to this administration. >> it seemed. >> like you. >> write a beautiful executive and you sign it and you assume it's going to be done, but it's not. what he does is he takes it. and with his 100 geniuses, he's got some very brilliant young people working for him that dress much worse than him, actually. they dress in just t shirts. you wouldn't know they

have 180 iq. >> so he's he's your tech support? no, no, he is actually. >> he's much more than. >> that actually. >> i'm tech. >> support though. >> but he gets it done. >> but the fact that the interview was taped last week could set up a bit of a problem for the administration's legal case, which they laid out in court papers over the weekend, that elon musk is not actually in charge of the doge waste cutting effort and doesn't even work there. in a legal filing by the justice department, the trump administration argued that musk is simply an outside presidential advisor. but in the interview, trump and musk referred to musk as the head of the effort, and musk laid out the purpose of what he's trying to do here. >> well. >> the overall goal is to try. >> to get. >> $1 trillion out of the deficit. >> and if we. if. >> the. >> deficit is not brought under. >> control. >> america will go bankrupt. >> this is a very important thing. >> for people to understand. a country is no different from an individual in that if an individual overspends, an individual can go bankrupt and so. >> can a country. >> now there was also some talk

about potential conflicts of interest regarding musk, given his business ties, particularly with tesla and spacex, especially as doge begins work at the faa and defense department, trump said he would just wouldn't let musk engage in any conflicts. but it's unclear who's going to be in charge of all that in this new administration. back over to you guys eamon. >> now we've got musk sort of mulling the idea of a doge dividend, giving a few thousand dollars to every taxpayer. do you think that's a reflection of some of the concerns that this cutting is raising. >> well it's interesting because if you do a doge dividend, you don't get the deficit savings that the administration has been talking about. right. you're pushing that money out to taxpayers. so the question is what do they actually want? what's the actual goal here? is it to reduce the deficit or is it to benefit taxpayers? and another thing i would fold into this question, guys, that to go to jim's point that you're talking about at the at the top of the segment about what president trump ultimately wants, is this fascinating moment that we saw yesterday at the department of justice and

the ftc, in which both the trump doj and ftc said that they're going to continue with the biden era 2023 m&a guidelines. now, that's the lina khan era merger guidelines that a lot of folks in business didn't like, thought were too strict. this administration saying they're going to keep with that this time around, and largely because they want to protect american jobs. so they don't see corporate elites as necessarily on their side. in this whole debate about the future of the us economy, they see corporate elites as trying to merge and cut american jobs. they're going to put themselves on the side of the american worker here. that's different than i think a lot of people on wall street expected. >> well, yes, absolutely. but i think that people have to understand that the when i went through these last night, these are actually rules of law. they are not. yeah. ideological. they are not meant to hurt business. they are meant to be able to include the worker. interestingly enough, lina khan did not do enough to include the worker. that's one of the things

that to me sent her way off base. but i do think that there was a neutrality to it that the democrats or republicans both don't want jobs to be lost. so i don't want people to think that it necessarily is going to lead to fewer mergers. but i would say it's the tone when i speak to ceos, they don't expect to be subpoenaed. they don't expect some sort of lawsuit over the transom. and the idea of constructive dialog with that, with the agreement of, of the legal ease, so to speak, is actually going to change things. it's constructive. it's no longer hateful. >> yeah. >> no, i think you're right on the tone question. but the question of m&a, i think is, is still an open one. i mean, you saw the hp juniper deal that the trump doj blocked earlier this year. you know that's a you know, is that a bellwether. is that an outlier. you know we still don't have enough data to really see where they're going with this. but i you know, when you talk to folks inside the sort of conservative populist movement, what they say is they're focused on protecting

jobs and communities. they're not necessarily as focused on what corporate elites want to do in terms of m&a. so it's just a totally different way of looking at the problem. and it's interesting to me that they they land sort of procedurally in this basically the same place where the biden administration landed, even though they were coming from a left of center perspective, and the trump administration coming from a right of center perspective, it's really about jobs at the end of the day. >> yeah, a provocative piece yesterday, eamon. thank you for that. eamon javers covering some of little of everything i really quick i wonder if hp juniper getting this extended look comes at a surprise. is it a reflection of anything. >> i think that shows a an ill advised nature of how tech works. i think it was at one point in my when i got out of harvard law, i was so stupid. but i've learned you don't use those words. it just seems to be a suboptimal level of thinking. they don't seem to understand what juniper does and what hp does, and i urge them to look at the actual businesses that hp competes in, and they would know that this is something that

won't necessarily give them a leg up against some very difficult competitors. i don't think they they should at least call kevin johnson. they don't even know the basis of juniper in the way, way back. and i felt that when i saw that, i said, geez, they're so ill informed about tech. i mean, mr. neary, i had him on the show. he's the ceo of hp and he explained it to me. i did a lot of work ahead of the interview, and i found myself thinking, wow, who are these lawyers? who are these lawyers? >> that's going to be one. >> to watch and see if. >> it's instructive. >> on something larger. >> yeah, they got to know the i mean, this isn't kroger. >> albertsons, right? >> supermarkets like real stuff. they got to know. >> this stuff. we'll take a break here. >> futures still in the red a lot of movers to get to this morning including etsy, wing, adi, arista, bumble and more. adi, arista, bumble and more. more squawk on the at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real.

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>> when it's time for cramer's mad dash. ahead of the opening bell. >> one of my favorite companies, one of the great performers of our era. so arista networks that do networking for data for cloud, they are very much involved in everything we hear about with the tech titans is so great. you can see one year they reported last night people did not like the quarter. she guided conservatively, talked about the idea of margin pressure for meta. now let me just say this every time there has been any conservative statement from j street you buy, you wait a couple days, you let the stock settle. this time will be no different. there is no real loss of business at meta to speak of. and i've got to tell you, in the end, everybody raised price. now, we saw this last week. this phenomenon, palo alto gets just trashed the night before everybody raised their price. now the stock is above where it was. i'm not saying this necessarily. there's a four for one. it's not down. i'm not saying that this thing will recover immediately because there are there is some hair on it with meta. but if you watch

her tonight and i don't know exactly what you're going to say, but she's conservative. and at one point she says on the call, look, the guidance is the guidance is something that frank slootman once taught me at snowflake. i do not look at that. this is not the beginning of the end of arista. they are there in almost every data center. they're doing incredibly. >> well, right? i mean, the q1 revenue guide is above the street. >> i know, i know, and that's why the price targets are going up. this company is graded at a level of it's unbelievable. there's it. she is held to a standard that is ridiculous. and in the end she just delivers and delivers and delivers. do i buy watch it tonight. let's see. what do i chase? i've known jayshree for years. she is a hitter and you bet against her. you know what kind of letter i send you? >> yes. >> do your funeral. >> the invitation to your. >> funeral will get. >> the opening. >> bell in 4.5 minutes. don't forget, you can catch. us anytime, anywhere. just listen to and follow the squawk on the street opening bell podcast. >> get invested. join the club.

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haven't any reliance on china right now, nor canada or mexico. it don't bring no products, not even active substances. europe is a different story. there is significn the us, so we are waiting to see how that could play out. >> that's albert bourla of pfizer talking about tariffs. jim, to our earlier discussion. what do you do if you are a multinational? >> you you. >> do manufacture some here, but you also might. manufacture in europe. do you start duplicating in the us? >> it's a really good question. and i think that we have bob yagoda on this morning. it was a builder of different plants and has a contract to build the jacobs solutions has a contract to build plants in north carolina for a gop. last night i j bill building croatian plants gop. i think you have to kind of sort things out in the end. you

want to do you want to buy, you want to make it for it. you want to make it in the country for that country. and that's where we're going. >> and this is the. old ge playbook from like the early 2000. >> exactly. i mean, i know that we're stunned by a lot of things come out of the white house, but a lot of it has happened before. a lot of it is a repetition and >> isn't a little bit odd the way it comes out. i am saying that everyne of these, at one time or another, has occurred or has occurred to us. so i get it. i do think you have to make it there for there. it's interesting. bourla did mention that he offered to give the chinese all the covid vaccines they wanted, and they wouldn't take them. i don't know. i mean, i would have mentioned that in that interview. >> yeah. let's get the look at the open here, by the way, at the big board, it's fiverr on marketplace for freelance services at the nasdaq. reynolds consumer products celebrating its fifth listing anniversary. >> speaking. >> speaking of covid, it was five years ago today. s&p all

time high 33.83. four weeks later you were down 35% right? >> and i remember it was my birthday. and i had a lot ofcetd about how this thing could be like the biggest thing ever. and i remember david faber specifically saying that i was a did he call me a crybaby or just an alarmist? but then the next day, like, the world. >> closed. >> not not david's finest hour, but but it was amazing. and it was just one of those things just happened. >> well. >> what's also. >> amazing is. >> that if you. >> had if you had bought at the top. meaning today. >> right. >> you'd still be up almost a double total return. >> i mean, one of the things that people keep forgetting is like you look at 2008, 2009, you're up like 1,000%. i mean, people have to recognize that the declines are are not

necessarily the end of the world, and the future isn't necessarily bad while the past is good. there were stocks that were bought. there were people who came on air somewhat recklessly. i'm not going to mention the names who drove down stocks to the point where you got bargains you wouldn't believe. i remember for the chapel trust what starbucks at 53 is like, wow. i mean, see you later. this is pre brian niccol, who i think is doing very well by the way. >> yeah. and some news out of chipotle today i think going to hire some 20,000 employees as we watch sort of those competing franchises to some degree. >> yeah i mean look when i boatride on i mean not many places can double the number of, of stores. and with a $4 million, you know, their annual unit volume is extraordinary. and i have to tell you that chipotle stock is actually quite poorly. but i think it's just digesting. i don't think there's anything wrong with chipotle. i don't think the price point is too high. the numbers were good. i'm not concerned about that

company. >> speaking of comebacks, snc back above the 200 day. first time since august. jim, is it all about that update last week? >> they got the auditor. that was really important. the stock has been going up ever since they got the order. because people feel they couldn't find an order. the they're doing well with nvidia. they're doing better than some people think. better than hpe with nvidia. again, just going back to the lawsuit. you know, when you're getting beaten by supermicro and dell and then you're in front of you're in front of these regulators and the acquisition you're making is really kind of making it so you're stronger than these other guys or at least have something going for it. they don't include that kind of thing. supermicro is back. i find it amazing. i find it amazing because when you lose your auditor because they don't trust the numbers and you're back. but i would say no one can test their abilities, their ability to be able to do the racking, do what's necessary. remember, you have to build it. they have to build blackwell, which is the latest and greatest

nvidia. they have to test it. they have to disassemble it and then they have to truck it. then they have to rebuild it. and that's something that supermicro helps, something that dell dell is going to report. i think dale is going to have a good quarter. i know that the last quarter people didn't like, but they didn't have the advantage of having blackwell, which is something they have a great, great ability. >> to tell you. what's helping. sentiment today is adp. >> which is compared to on. or nxp. >> the guidance is a bit of a, i guess you could say on sentiment. >> they said, look, the turn is here, it's vincent roche. people like vincent roche very much. he's terrific ceo. and he says the turn the turn is here now by the way. he has kept people from saying that there's a turn so suddenly when he says there's a turn, he is not called a turn three times. i've got guys who are like on their fourth, this is the turn, right? and those guys are like turns like the like the bird. this is a very good. vincent says. adp is good, it's good. and even though it's industrial, it's, you know, it's internet of things. >> how where is your thinking on intel right now given what

happened in your absence last week? >> right now look, they crushed altera. they did a terrible job. i think they wrecked altera. i know some people who kicked the tires. altera. and they were flat tires. so if silverlake wants to go in there, maybe they're going to get some bargain. there are companies that have intel sold a company to jabil for, like, nothing a couple of years ago. they can give it away and you can get a stake and maybe you can buy it. maybe you go over to amd and say, listen, you can own both. and the justice department doesn't look at it. there are competitors out there and xilinx, amd and xilinx. but look go ahead silver lake. i found it to be difficult to believe that they would do it unless they got it for nothing. so anyone who's buying intel thinking that this is going to solve their balance sheet, or that maybe it creates a value that the market will do. look at mobileye they tried to do. that stinks. look, balance sheets matter in favor of intel is dave zinser, who's a serious cfo, who's now ceo. and i really

like him against it is they have old, old foundries call them factories. they are in a dogfight with arm and with amd. and you know those guys those guys have knives and this company has those guys have guns and this company has knives. >> and now that we've got it confirmed at commerce, it'll be interesting to see how much of the chip subsidies from the prior administration get renegotiated or rethought. >> i was a huge fan of raymundo, but i told her over and over again, don't go with intel. don't go with intel. that's gelsinger, he's a dreamer. don't go with him. and, you know, sometimes what happens is like when they see jim, you're someone who's on tv and we're real. and i come back and say, no, i'm real. and you guys are pretenders. >> and you're also on tv. >> well, i mean, like, look, i mean, when i like, run a bunch of companies, some were successful, some not. i mean, i didn't just fall off the, you know, the semiconductor turnip truck and, you know, i can read a balance sheet. so good day. i mean, they could have looked at the balance sheet, but they were

dreamers and they got with the wrong company. they got with the wrong company. they should have gone with somebody who's a heavyweight. but most people didn't need the money. and they got, you know, maybe they'll get the money. you know, they gave money and they've got some promises and maybe something happens, but they're on the wrong horse. they were on the dl and i'm missing a letter there, but deliberately. but they're on the dead last, and i'm kind of missing a little palantir, like, talk. you know, alex on a conference call. you know, there's these guys. michael rubin, alex karp, they're both from philadelphia. i think it means you have to curse, right? i mean, you have to curse like the eagles. there was not a single speech that didn't have a curse word. >> we all we all know the philly the philly toughness. by the way, speaking of end markets, jim, we're sort of on the lookout for this newest member of the family at apple announcement today. >> yeah the low price one right. >> is this what we think it is. >> yeah that's what i'm hearing what i love and i talked about this with tim cook is that he i

said are you getting away from the. okay we got the 15 and we got the 16. we got the 17. and you know, we pondered it. you know, we're trying to we want to issue product. when we have product that's very different. the street. that could be a higher multiple. david yesterday was saying maybe the multiple is too high. but now we have a company in apple that doesn't it isn't just constrained by when they drop one. and i then asked him about how much of it is software additions. he said, look, just keep in mind when we have something, we now bring it. and the fact is, is that they've got a continual source of new products. and so therefore it doesn't deserve to have a 22 multiple. it deserves to have a higher multiple. and so i think the stock is correctly valued. it did drop down to 220 when we had a series of sells put on somewhat related to china. and then they turn out to have alibaba as a partner. and the people understand that alibaba is now in with the government. so you want to be with them. >> yeah. we also are lapping pretty soon here. the spring

earnings is generally about capital return. >> yes we do have a new cfo. luke has moved on loved luca but it doesn't look the idea. the board goes for that. but i continue to say apple own it. don't trade it. i was with the executive the other day yesterday said, how do i get on that own it don't trade it list. not being facetious, just saying how to do it. and i said, look, it's i can't do it with too many companies. i have a meeting tomorrow. club meeting because then you get trapped. i mean, i would say that there's risk to jayshree ullal deserve it. yes, but i can't have. i mean, how many can you just say? listen, that one i don't trade. yes, ever. >> you said you were furiously going through multiple drafts. >> oh, my god, i'm like, i start these things. i had a screed about one of the companies. it was so vile and hateful that i just said, you know what? i that will earn the enmity for the rest of my life. so i kind of toned it down, but it will be in there. hey, by the way, a company in terms of like screed, i made some critical comments about wingstop last time. i felt that they didn't give you enough information. what was wrong?

they upbraided me, they chastised me, and well, look, let the numbers speak for themselves. the stock's down 35 today. this is and i had nothing to do with it. >> this is a big q4 sales miss on the quarter. >> yeah i think wingstop is struggling right now. now they're doing they would come back and say jim we're doing better than everybody else. and that may be true. but they're they have to work. they don't. they're not the wendy's camp. wendy's is other than my wife, i think wendy's is really doesn't have any regular customers. it's wendy's is wendy's is hurting. but i do think that wingstop until they give us an explanation about why there's a slowdown, even though they make a lot of money per store, i remain a skeptic. >> what's interesting to cpi last week is the spread between the cost of food at home and the cost of food away from home is starting to narrow, and it might make more on the margin. it makes a little more sense to you about it. >> look, you know, when you sit down with a guy like chris, kim, kim jen psaki, i mean, you know,

mcdonald's, these guys are serious guys, and they have to deal with franchisees and they got the price down. i mean, i would complain to them about the $7 and 50 cent egg mcmuffin. i mean, they're well aware that that is much, much, much above what it was. these companies have brought things down. domino's pizza has brought things down. positive note this. >> morning actually. yeah you're right. >> yeah. so i mean they're not oblivious. meanwhile i've got spartan national tonight. that's a company a lot of people haven't heard of, but they are offering a wholesale. they're offering some deals that make me want to go to michigan to get the food a little bit cheaper. i mean, honestly, they're trying to bring things down. and a lot of these companies are really, really focused. spartannash thinks that we're now back to the pre inflation on a lot of things. i don't see that. i still see the two grapefruits for eight. there was two grapefruits for four. >> right. >> but i do think that spartan i want to hear from them because they're saying there's a turn. >> that's interesting. >> also in the consumer front, jim etsy this gmv miss. and then they guide current quarter gmv

about the same rate down six. >> that was just so disappointing. i like etsy so much brooklyn's own. and the gross merchandise sales were just not good. and i went to one of their pop up stores during the holiday season. it was so great, and i think anyone who's used etsy finds that they do get the, you know, the, the, the individual making the stuff for you. but i guess we got to really look at this company seriously about why it's not doing better, because it does have i think all of us have had a nonmoral great experience with that, see. and i just find maybe, i mean, i'm not that savvy or facile with these sites, but it that's where a lot of people put stuff and make stuff. and i want to know what's going on there. >> yeah. i mean, we had a lot of discussions last week about how much consumer discretionary relies on walmart and costco. >> walmart and costco and tj maxx, tj, we own i wish we owned walmart, but we can't own all three. it's very diversified, but those are the three companies that are doing the most to cut prices. i had the

previous cfo, richard galanti at costco more than 30 years. cfo would actually target companies that are charging too much and say, listen, you know what? we got a new brand coming. it's called kirkland signature, and it's going against you. one of the great anomalies that has been solved. and there were some people who really did things wrong. michael michael's shoe at kimberly. he went to costco and said, listen, we got to solve the problem of you going against us. and what he knew was that kimberly made both. so, i mean, they were basically doing a suicide pact with costco. they were making the kirkland signature for much less. but costco targets those who don't bring the price down, and they have been the major inflation fighter in this country other than doug mcmillon at walmart. walmart doesn't get credit. i mean, if you go to walmart, you're kind of astounded. now, a lot of they always say things are made in america. i think it's like united nations of countries that have helped them. but you look at the prices at walmart, they're very reminiscent of what they were.

and i'm not just talking about the dollar french's mustard. i mean, they had a lot of good things. >> yes. costco's costco is tough. >> oh my god. >> if they. >> have i had an allentown costco that i went to was so dynamite it almost challenges my neptune costco. >> you mentioned autos earlier. we did get a note from s&p global about autos and the impact of tariffs. we do have at least on the tape today, jim nicola filing for chapter 11 protection. >> you know there's a hindenburg i miss hindenburg. they got that one. yep. that one was really the that that was just one of the most savage miscarriage of justice is what they were doing. lakehurst new jersey hindenburg autonation. positive note today used cars are selling really, really well. carvana is probably the most untold great comeback because i think people just don't want to believe that carvana came back and they want to buy a car from carvana. that's what when that thing was like at 5 or 6, i was like, you

know, i always tell the story. i bought a car from carvana, i bought it for someone, and they said, well, i really don't like that. no, you buy some car. i think it usually should be a little more, i don't know, but i sent it back. i said, i don't like that car. i mean, you know, like that was like returning something at macy's. maybe even easier. >> yeah. it's an amazing new model. related to that, jim, is energy. oxy is up five. we're going to watch gasoline here. we're getting into the period where we're rolling into the summer blend on wholesale. and that last year we went up about, you know $0.50. and this. >> time i know look. and i saw diamondback was recommended again i mean that is a dime back energy is the highest growth energy company we own for the charitable trust. and it's been terrific. diamondback has actually not been great. but oxy is extraordinary. look chevron had a little bit of a comeback. i know mike wirth probably feels like well, any anybody give us some love. we're really growing the we're growing our reserves

at the same time that we're growing our dividend getting. >> more efficient. >> but that. yeah. wow. a lot of people. but that thing's come back and people want to own one that i think is really steady. that is behind. go with worth go with chevron. it's really good. i was on one of their platforms in the gulf. >> they're doing. >> we all remember. >> yes. >> they do amazing things. >> as for nat gas, you got this push pull between the prospect of some peace talks in ukraine versus the cold weather that we're having here, it's been kind of ridiculous. >> right. and then you do have the possibility of a massive increase in export of nat gas. we have a lot of cases. it's very hard to be able you can't pump it every second. but we are not in trouble with the amount of nat gas we have. we do. i think always we find it quizzical that russia has been able to export so well. i mean, all the stuff with russia and i mean, look, i think the president is a little ahistorical about ukraine, maybe starting the. >> war, of course. and zelenskyy is on the tape today saying that the. president's in. let me get this right, a.

>> disinformation space, right. >> the notion that they somehow brought this upon themselves. >> and timothy snyder is my favorite, who a yale professor just back from ukraine, 20 miles from the border, has said, listen, we have to start invoking hitler. we have to talk about hitler again. we know there's been a ban. we never do it. but he had operation himmler where he had a polish, german people dressed as polish soldiers and then had them cross the border. and that was a famous incident that he told his people that they did, that poland attacked and they believed it. and you don't want to get in that kind of world, right? you don't want to get i mean, of course, then they were able to invade poland with the and they did the sudetenland again. and czechoslovakia said, listen, the sudeten minority's being attacked by the czechs. that was not true. but the controlled media bought it because the controlled media was controlled by hitler. and so i don't mind timothy snyder's right. i mean, if you're going to say that ukraine was was the aggressor, then you got to talk about 38, right? and you can't be ashamed or afraid to talk

about. >> i'm glad you said that. glad you said that. finally, jim, what do you make of ackman yesterday and howard hughes this whole bit. well 10 million at 90. >> you know. yeah i mean like i think that ackman look this howard hughes situation he's been on many many times saying he liked it i find that bill ackman is in the ackman world i mean he's got this huge. there's nothing i say if i don't say if i say it's great then i've done i'm okay. if i say it's weird then i'm not okay. i'm not saying that he controls the media. i'm just saying what's his company that he wants to control very badly. he wants to make it. he wants to make it his berkshire hathaway. and i wish him luck. he should make it his his birth. why shouldn't we all have berkshire hathaway? hey, listen, if you're an oligarch, you should have everything you want. what's the problem? i mean, i was down in the in the i was looking at, i was in we were in bahamas for my birthday and i looked around the building. i said, god, where's the oligarchs when you need them? i mean, there's not enough oligarchs in that island. it's got to get more oligarchs. >> we're making. >> new. >> ones all. >> the time.

>> i know that's the great thing. we're oligarchs. we have kleptocracy. it's fabulous. >> opening losses here. dow's down about 1.35. watch bonds today. as jim said we will get fed minutes at two. >> we'll get. >> jefferson speaking. >> at five. and about 20 year bond auction $16. >> billion. >> worth at 1 p.m. >> yields right. >> now hanging on. >> to the. >> 455 range. don't go anywhere. >> stay. >> with the bond report is brought to you by pimco, a global leader in active fixed income. >> running out of money. >> in retirement. >> it's not. >> an option. that's why more. >> stock investors are now learning to trade options to boost their returns. >> look at the return of this. >> option trade versus a stock trade on the same security they can't even compare. >> after years. >> on tv as. the go to options

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give up with with housing, with plastics, you're seeing some things that make it so that it's not necessarily clear that the fed is lost here on inflation at all. i know the tariffs are sticky and hard to get, but they change things. but there are things going on that are deflationary all the time. tapestry sold stuart weitzman today. >> i noticed that. >> they bought stuart weitzman for $574,000,000.10 years ago, and they sold it for a song. so there's crunching, there's things that are tougher. don't give up the ship, that things are not that bad. it's just that you got to get used to it. low of headlines. >> we are getting used to it. about one month in now, right? >> i mean, you know, mar-a-lago who went to this thing, i mean, all these things, it's just something it's go back to 2016, it wasn't so bad. >> we. >> we kind of have done it before. >> jim. >> what's tonight? >> we have. all right. i've got three really hot companies. well two companies that are hot and one that is that's that's predicts good things. tim archer

who's just remarkable at lamb there, one of the great semiconductor capital equipment i mentioned. ullal jayshree is a risk to which this is just a remarkable company. and i want to keep track of tony. i keep track of the cost of food at the supermarket, because that's another way that the fed could win. we got to follow this. stop being so negative. >> that's good advice, jim. you know all time high yesterday. it's hard to stay tuned. >> negative i just. >> think people just want. to leave this market not know i'll say that again tomorrow. the conference. >> call jim we will see you tonight. look forward to tomorrow as well. mad money, 6 p.m. eastern time. take a quick break here. dow with some moderate losses at the open. we're back in three minutes. >> we empower. >> those who act. those who. >> see the correlation. >> between predictability. >> and probability. >> those who manage. >> risk by anticipating each movement.

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sara eisen has the morning off. david faber. >> is going to join. >> us a little bit later with the big interview. meantime some moderate losses this morning. dow's down about 150 backing off of yesterday's all time highs on the nasdaq and s&p. oil's up a buck. yields creeping a little bit. still holding that level around 4.55 on the ten year. >> and we are 30 minutes. into the trading session here. three movers. >> that we are. watching so far. >> toll brothers under pressure. >> after the. >> homebuilder missed earnings estimates. >> impairments and a delay. >> in the sale. >> of an apartment. >> property at. >> one of its joint ventures. >> were key. >> drags on the results you can see. shares down more than 6%. >> other homebuilders. >> like pulte, lennar, d.r. horton. kb home also. >> under pressure. this morning. it looks as if kb home. >> they're down the worst of the. >> bunch. >> down 2.4% now. >> bumble shares. also plunging. >> on. >> disappointing guidance. >> revenue down. >> year. >> over. >> year in the quarter. shares now cut in. half over. >> the last. >> year down more than. >> 22% at this point. >> and we're keeping an eye on apple. >> today the tech giant expected to unveil. >> an upgrade to its most affordable. >> iphone. >> the iphone se four. >> we're going to. >> bring you that latest news when it crosses.

>> let's turn to the broader markets this morning. stocks are in the red after those fresh record closing highs on the s&p and nasdaq. our senior markets commentator mike santoli is here with the setup. mike and jim's point last hour about how we're having to get reconditioned to the pace of news like we were post 2016. yeah i think that's been part of the process in the last few weeks, is essentially to know what to extrapolate what not to, how to perhaps kind of take a step back and not react to anything that's not yet substantive and firm. so i think that's part of what's what's been keeping the market in check in a sense. so we keep feeding off of very positive set of initial conditions, right. the economy growing well coming into the year. earnings are up, you know as the usual 77% of companies beating estimates. and we're beating by seven percentage points. so you've kind of justified the valuations on that level. and the market just continues to rotate around whenever it looks like there's one area that's going to kind of compromise the strength of

everything else. something else offsets it. now i don't know that that could last forever. what's fascinating yesterday it was a sort of a direct out of growth into value type of move. today it's essentially spilling back the other direction. yesterday banks are up 1%. today banks are down 1%. so i think that that kind of favorable ability of the market to kind of move its weight from foot to foot is a good thing. but it means that this move to a new high not the most emphatic. it does not have a ton of broad momentum behind it. it's more kind of a grind, a net positive, and not something that says, you know, we expect either an economic acceleration or that, you know, we have the capacity to be surprised pleasantly to the upside very much because i think we came into the year with good expectations. >> it is. startling to. >> me, like. >> like you said, that we're getting a little bit more. >> used to. >> the reaction. >> factor, waiting until. >> it's real. >> news before we move. anything that you think could change. >> sort. >> of that. >> tendency as we move forward. >> i mean, these. >> announcements are.

>> coming out of washington. >> in rapid acceleration. >> it's hard. >> to keep up. >> yeah, i mean, i actually back in 2017, i came to this kind of talking point, which is when you hear a headline, see a headline, it seems like there's some kind of big dislocating development going on. i always try to ask, what specifically should the market be repricing right now in response to that? and so unless it's actual tariffs that's going to actually change the whole equilibrium price and supply and demand. and it's going to kind of pinch somebody's margins and improve somebody else's. it's not necessarily something the market wants to get too far out ahead of. that being said i mean this morning you talk about the weakness in the housing numbers. toll brothers, yesterday we also had some pressure on housing the nahb index. that to me is something that's happening as an undertow along the way, which is not about policy really directly. it's about can this part of the economy handle rates where they've gotten to at the start of this year? we don't know if it can or not. it's

probably not enough to sink the expansion, but it's enough to take the edge off the growth a little bit. and maybe in combination with other things, like maybe a sudden group of layoffs from public sector or somewhere else, it could be something that changes the feel of this kind of no landing economy. i was going to ask you what you think would do more damage. a truly gruesome inflation print or a jobs print that was well below expectations. i always lean in the direction of the market can kind of deal with inflation because you can massage it away in the analysis. you can sort of we've already gotten to a point where the fed is not expected to cut soon. i do think that a downside growth scare is probably the thing i would be more more concerned with. >> really interesting stuff, mike. >> keep us honest. >> come back. >> early and often. let's turn to washington. >> president trump. >> laying out some new. >> tariff threats. >> for three. >> critical industries, which. >> we sort of discussed. around the edges here. >> it comes. >> ahead of his speech later today. >> so eamon javers is here with the latest from the white house. >> on what. >> we actually.

>> know or don't. >> hi, >> eamon. >> hey there courtney. president trump is in miami today where he's going to participate in the saudi backed fii summit. it's a gathering of business executives who are going to discuss topics ranging from carbon markets to deep sea ocean mining to bitcoin. a white house official tells me the president's message to the ceos will be that the united states is open for business and welcomes foreign investment. now, we expect the president's remarks to kick off around 5 p.m. this evening. also appearing at the summit are executives from a wide range of industries, including cryptocurrency supporter michael saylor, former google ceo eric schmidt and saudi ambassador to the us reema bandar al-saud. now the summit is put on by the future investment initiative. it's an organization run by the saudi arabian sovereign wealth fund, which is called the public investment fund. and it all comes, as you say, as investors are going to be watching. for more details on trump's newest tariff threat tuesday, when he said he would impose tariffs on autos and other key industries. here's what he said. >> it will be in the

neighborhood of 25%. >> doctors and pharmaceuticals. >> it'll be 25% and higher, and it will go very substantially higher over the course of a year. but we want to give them time to come in because, as you know, when they come into the united states and they have their plant or factory here, there is no tariff. so we want to give them a little bit of a chance. >> but you see the president there signaling the possibility of a delay. he says we want to give them time to come in. so clearly some negotiations are upcoming here. we don't have the full scope of this. and to mike's point from a few minutes ago about whether these are true tariffs or just tariff rhetoric, there's a lot of loosey goosey here in terms of how high these tariff rates will go, what they'll be applied to, which companies will be affected. all of that still tbd. guys, back over to you. >> i mean, it seems, eamon, i know you were around for. >> the first. >> trump administration. >> it does seem that this. >> time it feels. >> like potentially the. >> beginning of a negotiation, more. >> so than. >> the last time.

>> it felt like last time tariffs. >> went. >> in and sort of. >> that was that. >> this time it feels like some. >> wiggle room, especially with. >> maybe what we've. >> already seen from mexico and canada. >> do you think. >> that is the president's intention? >> yeah, i mean, i've said this before, but i mean, i think the president is a hardliner, but a flexible hardliner in the sense that he wants to lay out these very tough terms and then kind of back off of them. right. so he laid out, you know, canada and mexico tariffs then backed off of them. he laid out last week the idea that he was going to put in reciprocal tariffs, but then back that out till april 2nd and maybe not even then. and we'll see these tariff threats last night. you know automotive pharmaceutical semiconductors and others. yeah they'll come in but maybe not. and maybe it'll depend on what the companies actually do. and so in every case he's putting down a hard rhetorical marker. but he's also signaling a willingness to be flexible to negotiate. this president sees himself as the dealmaker in chief and sees himself as capable of handling, you know, a 19 part negotiation with every

industry and every country simultaneously that will get the best deal for the united states. that's a very complex thing. and for wall street, it's going to be very difficult to monitor all of those and figure out which ones are real, which ones are actually happening, and which industries are winning and losing in that fight. for trump, it creates an atmosphere where he has maximum leverage and keeps everybody else with maximum uncertainty. and that's where he likes to operate. >> absolutely. >> it's fascinating stuff, and i know. >> we're all going to be working pretty. >> much around the clock to. >> figure that out, to try to help investors. obviously understand what's real, what's not, what the impacts. >> are, at least with the. >> information that. >> we. >> have. >> at hand. >> eamon, thank you. >> so much for all. >> of that. we're going to. >> turn now to tech drill. >> down on some of those points actually that. >> eamon made. >> the nasdaq. >> 100 hovering at. >> record highs. >> our next. >> guest is. >> on a trip. >> in asia. >> he sees. >> another 12. >> to 15% acceleration. >> in. >> the supply. >> chain for nvidia and. >> big tech. let's see what. >> happens with. >> potential tariffs on semiconductors. he also says quote. demand is far outstripping supply with black. >> blackwell in.

>> the field as top tech picks include. >> nvidia. >> palantir and. >> apple. >> which are also expected to unveil new. products today. so we've got a lot to talk about with dan ives. >> he's wedbush. >> securities global head of. >> technology research. he joins us now. >> from asia. brightly colored as usual. dan, i guess maybe just to start. >> start things off. >> tell us what you're seeing on the ground there as it pertains to demand for the semiconductor space. >> yeah, i mean. >> since october we're. >> seeing about 12 to. >> 15% increase in terms of demand. and that's. >> that's significant. >> clearly a good barometer going into nvidia. >> next week. >> but i think it just. >> shows these enterprise. >> use cases are exploding. and that is. >> really accelerating. >> demand because. >> no one. >> wants to sort of lose. >> their spot in line. and i. >> think that's. >> just more and more bullish for the ai revolution. >> the second, third, fourth derivatives. >> i mean, that's so far. >> from. our trip. >> very. >> very bullish and feeling really. >> good going into nvidia next week. >> is nvidia. >> still a top pick. >> for you? >> everything you're seeing there just.

>> reinforcing what you like. >> i think it's. >> a table pounder. i think. it's going to. >> be a $4. >> trillion. >> and eventually $5 trillion market. >> cap. because there's only one red phone. >> to call for these chips. it's the godfather of. >> ai, jensen, nvidia. >> and what i'd. >> also. >> tell. >> you, and we. >> talk. >> about. >> in the note. from a. deep seat perspective, 4550. >> enterprises. >> not one. >> has changed plans pose deep seated. >> i think it. just shows this capex. >> doubling down. that's what we're seeing. >> across not just big tech. >> but. across enterprise. >> dan, there were some takes last week on this ai summit in europe. where some. >> of the survey work being. >> done had some. >> constituents saying. >> yeah, we're curious, but we're. not seeing outright value. >> on these investments. >> quite yet. >> where do. >> you think ai, how much of it budgets does it make up and how much could it get to? yeah. >> i mean i think that's why yo. >> have names like palantir. >> right. >> kind of the. >> sort of the. golden child. in terms. >> of use cases.

>> modernization is it's already. >> playing out. we believe everything. >> we're seeing. it's about 10%. it budgets and in some cases 15%. now there. >> are. >> some enterprise. and of course places around the world are not going down the ai path, of course, but they're going to have to delay. their initiatives. >> for, i'd say, 12 to. >> 18 months, because. >> right now demand. >> is outstripping supply. 15 to 1. and that's why i sit here. and i think tech stocks are going to be up another 25% this year despite tariffs, despite nervousness, worries about stretched valuation. i think street. is massively. underestimating what. demand looks like. and is. >> the. >> ai revolution second, third. fourth derivatives. >> and so. >> if. >> demand is. >> going to be. >> that strong and you. >> just. >> mentioned tariffs. >> i. >> mean do you think tariffs. are somewhat of a non-issue, meaning you're. >> just going to pay what you have to pay because you. >> need these chips to do what you plan. >> to do? >> yeah. >> and you're talking about even. >> before i mean, i think this is. >> all a poker. >> game, right? >> and i think.

>> you know. >> it's very easy to. >> get. >> nervous in. >> terms of. >> first shots across the bow. i don't believe it's going to massively. impact the chip and overall ai revolution. >> i think there's also. >> going to be some, you know, i think some gaps in terms of whether it's apple. >> tesla. >> potentially, you know, some opportunities that they. >> could ultimately not really even be impacted. >> by some of the tariffs as this all plays out. but what we're seeing. here in asia, less nervousness about tariffs than maybe even six weeks ago. and that's bullish when you look at this relative to overall demand and what's going. >> to really be. >> a game of high. >> stakes poker between d.c. and beijing. >> finally dan, you mentioned apple. we're on the lookout for this newest member of the family announcement. any clarity in your mind? what what we should expect? >> yeah. look. >> i think it's just it's. >> another product. >> that's going to just fuel more. >> and. >> more of what i believe is just a. >> broader, not. >> just upgrade cycle. >> but but apple. >> is going to continue to see

this renaissance of growth. >> i think when you sort. >> of look at the price point from an sse perspective, especially emerging markets, especially developing markets, i think. >> india more and more is going. >> to. >> become a. >> bigger market. this just shows. cupertino is not just going to play in the high end. they're going to focus on middle market. they're going to focus on rolling out apple intelligence. we think that china really soon with alibaba. >> as a partner. >> and that's why haters will hate. and apple. but the first one to hit 4 trillion will be apple in our opinion. >> followed. >> by nvidia. >> viewers want to know, dan, if your jackets are as popular on that side of the planet as they are on this side. >> they are? >> i mean. >> they are. i can. >> tell you. >> across asia, i think. >> really, really bullish on the collars. and, you. >> know, it's nice to. >> see that on both sides. >> i know you might be a. >> penn state fan, but that looks a little osu scarlet. >> to me. dan, thank you very. >> much for. >> joining us. i give credit. >> i give credit. >> where credit. >> is due. congrats. >> thank you. o-h. >> thank you very much, dan.

>> as we go to break, here's a roadmap. >> for the. >> rest of. >> the hour. the president keeping biden's tough rules for merger reviews. a closer look at what that means for dealmaking. >> many tech stocks hit hard. >> by deep. >> sea threat have recouped those losses, but the same can't be said for another ai related group. >> and speaking of. >> ai reports, deep seek is looking for some outside money for the first time ever. we'll get the state of the ai arms race with logan bartlett of redpoint. big show still ahead. don't go anywhere. >> we'll have to alert. >> suppliers, coordinate shipments. >> already alerted, already coordinated. >> since when can we just scale up mid-cycle? >> since we brought. >> since we brought. >> in. when i started walton goggins goggle glasses, i had no idea what i was doing. but godaddy airo does. using ai to build a logo, website and social content. so i can let the world know, if your goggles ain't goggins, they don't belong on your noggins!

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>> welcome back to squawk on the street. the trump administration saying it will use it will keep using former president biden's tough rules for merger reviews. the existing guidelines outline more than a dozen criteria the ftc and the doj used to determine whether to block a merger, and have been criticized by corporations since their adoption in 2023. joining us to discuss this morning, mozell thompson, former ftc commissioner. mozell, great to have you on the show again. good to see you. >> good morning, carl. >> we had some discussion about this this morning with cramer about, i mean, is this a bit of pulling the rug under those who thought this would be a new era of m&a? >> well, look. >> i think the market. >> anticipated more merger activity. but and there's still a lot of activity and people researching. >> mergers and. >> the lawyers are. >> busy and other things. >> but not you haven't seen a lot of deals yet. and i think because there's still uncertainty out there. and i think part of what they did with the merger guidelines is and it was a very. strong emphasis in the statements of the antitrust

enforcers, is they were going to keep the merger guidelines because they wanted to create uncertainty and eliminate uncertainty, to have some stability. i think that's important. now the question becomes how do they interpret the new guidelines? you know, the these merger guidelines broaden the kinds of things that are being looked at, which means that the parties who seek to merge are still going to have to. produce a lot of information and a lot of analysis. now, how they how the agencies wind up interpreting that and how they wind up, whether they wind up taking action against certain proposed mergers, has yet to be seen. so you see a little bit of they're trying to get a degree of stability, but i don't think they've gotten there yet. and i think part of the wrench that was thrown into the works yesterday was the president's executive order, which he expects to have the executive branch essentially take over all of the independent agencies. so

the combination of both creates some market uncertainty and uneasiness. >> well. >> do you think the bias then is to be more. permissive or the opposite? >> i think it's very interesting. i don't know what the policy is, and i think it will depend a lot on the industry and what their interest is in that industry. there's no clear indication that they intend to let up on tech, for example, that they've they've looked at the at tech industry and the vice president and others have been critics of the tech industry. so we should see where that goes, whether they want to have more mergers and more importantly, more enforcement actions in that area. that's yet to be seen. so stay tuned for the news at 11. >> you know. >> marcel, this sort. >> of strikes me. i have. >> two questions. >> one is. >> why do you think that they're deciding. >> to hold. >> on to. >> these rules? i think obviously that was. >> a surprise. >> for many. and then.

>> secondarily, just. >> sort. >> of from the way. >> government works. >> could it be revised again? >> could the president change. >> his mind? >> absolutely. and i think that with the executive order that came out yesterday, the proposed concentration of power within the executive branch and the president to make those decisions, don't forget, these agencies have a couple of different roles. first is to look at mergers. second, to look at enforcement how companies behave. and third is to develop policy about what they think the proper economic conditions are. now, traditionally that's done by independent agencies. the idea now that that's going to be funneled back to through omb and policy conditions set by the national economic council, is a bit different. so we don't know how that's going to play out yet. >> marcel i wonder if i mean and this conversation kind of dovetails with what's happening with civil service employment. if we end up with

administrations that don't have that bridge between administrations, right. do we just lurch from swing election to swing election change, election to change election? when it comes to things like m&a policy? >> well, carl, this is unprecedented. i mean, the not the merger guidelines that can those can always be changed. and they've gone through various iterations since they first were enacted decades ago. but it takes time to do that. but if there's a policy pronouncement, for example, that the white house is concerned about a certain industry or certain companies and that they ask the independent agencies to go after them, that would be unprecedented. and i think that that would be a test of what the executive power is, right? >> it might be in store for a few of those. maybe. we'll have you on again to talk about some important test cases that are pending, at least for now, but appreciate it very much. mozell

thompson. >> thank you. >> well. as we. >> head to. >> break, let's watch. etsy shares under pressure after a miss. >> on. >> revenue and gross merchandise sales. stocks at an underperformer over. >> the last year down about 30%. plus. >> a look at one. >> sector still licking its wounds from that deep sea. >> sell off. >> the details are next. >> don't go away. >> public.com is the one place where. >> you can invest. >> in almost everything. >> stocks. >> options, bonds, crypto. >> you can. >> even lock in a. 6% or higher yield. all your investing in one place. get up to. $10,000 when you. transfer an account to public.com. the pop culture collectibles market. >> is valued at. >> over $5. >> billion, growing. >> 9% annually. meet alliance.

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moment with exclusive access to market moving interviews and stock picks. become a smarter investor with the power of cnbc pro, go to cnbc.com pro now. >> many of the. >> tech stocks. >> hit hard in. january on fears around. >> china's deep. >> sea have largely bounced back. >> but one part of the. >> trade remains under pressure. our pippa stevens is here with more. pippa. >> hey. >> courtney, we're. >> talking about power stocks, specifically. independent power producers with nuclear assets, which are. >> seen as big. beneficiaries of energy. >> guzzling i. the group was among. the hardest hit from the deep sea sell off on january 27th, with constellation, talent. >> and vistra all. >> falling more than 20% on the day. since then. a larger basket. >> of ai. >> related stocks including micron, supermicro, cisco, meta, and palo alto networks has rebounded. >> an. >> average of 2%, while constellation, vistra and fellow nuclear owner nrg are still in the red. when it comes to tech, some investors worries have been

assuaged by robust capital spending plans. but for power stocks, which had a. big run last year, the tailwinds are less clear. barclays saying the. >> partial recovery in power. >> stocks suggests investors feel bruised by the deep sea episode, and are likely to be on the lookout for another ai related shock down the road. still, while deep sea can more energy efficient, i might shave off some of the high end estimates for how much. >> power will. >> be needed. power is still growing, and not just from ai. while it's an important. >> part of the. >> growth story, there's also reshoring and electrification. >> carl seems like a topic we cover just about every day. pippa. really interesting. pippa stevens thanks. speaking of energy. solaredge shares are rallying the renewable energy company with a top line beat and the midpoint of the company's revenue guidance for the current quarter, also above estimates. still to come as well the ai playbook with one early tech investor in names like snowflake, twilio, stripe manages billions in funds. he's

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what will gina do next? gina has roller derby at 6:00 pm. i'm there. get started investing for as little as $1. talk about easier investing. what i think a foundation should be. learn more at beauty.com. >> welcome back. i'm silvana henao with your cnbc news update. the senate health, education, labor and pensions committee is holding a hearing this morning on former congresswoman lori chavez-deremer nomination to become the next labor secretary. she faces scrutiny from republicans over her support of a bill called the pro act, which was a top priority of labor unions. president trump's media company and video sharing platform, rumble, are suing a brazilian supreme court justice over accusations he illegally censored right wing voices on social media. the legal action came just hours after the judge received an indictment against former brazilian president and

trump ally bolsonaro. over this, over an alleged plot to overthrow brazil's government. and chipotle is using artificial intelligence to help with its latest hiring push during its busy spring season, aka burrito season. the chain says it will bring on 20,000 new employees. perspective workers will work with an ai powered virtual team member called avocado to collect basic information, schedule interviews and receive offers. karl. >> my daughter's name is ava and sometimes we call her ava. >> there you go. so thanks. >> appreciate that. savannah. now nvidia shares, along with most of tech recouping nearly all of their losses after that late january sell off, tied, of course to chinese ai player deep seek. and new this morning deep tech is reportedly weighing raising outside money for the first time with some interest from chinese state funds and alibaba. here, with his view on the ai arms race, is redpoint ventures logan bartlett. he hosts the logan bartlett show. he's interviewed guests like

benioff and sam altman, manages more than $7 billion in funds with a focus on software. it's great to have you in, logan. >> thanks for. >> having. >> me on. i wonder just. >> how you characterize. >> the moment we're in, having digested sort of the deep c wrinkle and now this this money raise, what do you think the market is trying to digest right now? >> yeah, it's. >> it's interesting. >> we have the. >> closed model providers, the. >> openai's, the anthropic's. >> all. >> those players. >> kind of going. >> after and leading. >> and now we have the open. >> source. >> models catching up. >> and so i think the deep tech news was a watershed. mt,ot. >> just because. >> of where it came from. >> and people. >> want to talk about china and. >> all the implications. >> of that. >> but it was a true open. >> source. >> model that came. >> out of nowhere. >> and was. >> able to. >> catch up with. >> a lot of the. >> performance of. >> the closed. >> source models out there. >> so i. >> think that. >> has a number of implications. do you think the closed. >> army. so to speak, was deferential enough to what open is doing? >> closed in. >> what way? >> competitors who were. >> sticking with their closed model. yeah, i think it's pushing. >> i mean, sam has. >> come out. >> and said. >> that maybe they've. >> been on the wrong side.

>> of. >> history in. >> terms of the closed versus the open source approach. and so i think. deep seek. >> has. >> really a an interesting moment that's. >> causing a reckoning. >> for companies like openai. >> and. anthropic and thinking. >> about the closed source approach versus the open. >> source approach. >> there was a sense immediately that, oh, capex intentions will have to be revised down and ended up doing the opposite there. there's such. >> a thing called. >> jevons. >> paradox, and. >> i think satya. >> nadella, satya. >> nadella came out and said it right. >> and so as. >> cost of resource. >> goes down. >> the consumption. of it. goes up. >> and i don't think we look. >> back on mainframes and. >> say as. >> those got. >> cheaper and cheaper, people used less. >> and less of them. >> and so i think that's. >> the implication of it. but it will be interesting. >> to. >> see how it plays out. >> there's obviously. >> been a lot of focus. >> on the relationship. >> or lack thereof. >> between elon and sam altman. >> what do you think elon's. motivations are are. >> exactly in. >> going after. >> openai the. >> way he is right now? >> elon has been on the. >> forefront of. >> ai safety for. >> a long time. >> and i think one of. >> the founding. >> principles of. >> openai was. >> trying to. >> keep ai. >> out of the hands of. >> a company. >> like google. and so. >> i think.

>> two things. >> can. >> be true in this. i think. >> that he can. >> be concerned. >> with. >> ai safety. >> and there's definitely ego and. >> power at play. i think. >> back in. >> 2017. >> elon actually. >> proposed starting a public. >> benefit corp. >> and transitioning. >> openai to. >> that 2018, he. >> proposed tesla. >> acquiring openai. >> and so. >> i would. >> say there's not. >> entirely altruistic. >> motives. >> and there's definitely elements of some. >> power struggle going on here. >> i mean. >> does the. offer for openai. >> make the idea. >> of splitting. >> the company. >> into. the two for profit. >> not for profit more complicated? >> it certainly does. >> i think right now. >> roughly. >> openai was trying. >> to value their nonprofit stake around 30 billion. elon coming in around 97. >> definitely throws a bit of. >> a wrinkle into what is. >> the fair value. >> of this. but it. >> seems the. >> board led by brett taylor, has kind of categorically denied elon's approach. >> and so we'll see how this plays. >> out in court. >> right. some tried to liken it to just throwing sand in their gears, slowing them down. right. is that do you think that's a fair assessment? i think that's a fair assessment. we'll see what the actual implications. >> are in the coming. >> days and weeks. >> as their court trial actually

plays out. but i'm. >> not. sure this elon ever thought. >> that it was possible. >> that they were going to accept this offer, but instead was going. >> to present a problem for openai. >> i'm also curious about your sense of use cases that are hitting regular people. are you impressed with the number, the way the general public has responded to chatgpt apple intelligence? and do you think that those that the number of those cases brought out widely this year? >> i think it's i think it's really. >> impressive to. >> see the different. >> use cases. >> that people. >> are able to get. >> out. >> of openai. >> i don't. >> know if you guys have. >> used the deep research. >> functionality, and. >> it is serving. >> as an analyst. that kind of augments the day to. >> day work. >> and so. >> i think there. >> are elements of that that are definitely playing itself out. >> in terms of how it's. >> impacting day to day workers. knowledge workers certainly. >> are benefiting. >> from different elements of research. >> and all that. we obviously saw that avocado. news and some of. >> those things. >> that are coming out. i think. >> that is. still very much on the come, and we'll see how that manifests itself on a day to day basis. >> i mean. >> i'm also just wondering if.

>> any of. >> this going back. to sort of the elon musk. >> and sam. >> altman idea is an ai catch up for elon musk. i mean, he's been talking about ai for a. >> long. >> time and the worries and the dangers. but does he feel like he. missed the boat. >> with some of. >> his ventures? >> well, we saw we saw the other. >> day the grok. >> three release. >> which i think. >> is. >> now pushing. >> the envelope. >> and elon. >> certainly they. >> have. >> colossus down in tennessee. >> which is. >> their supercomputer lab and i think the biggest in the world. and so he's certainly pushing the boundaries. >> with grok. >> and i. >> think i. >> do. >> think there's elements of the power and the influence that sam has been able to capture. >> that elon probably. is remiss. >> to not have the influence on anymore. >> yeah, we're. >> looking forward to getting more clarity on what grok is capable of, certainly in the coming weeks. logan, please come back. thanks so. >> much. >> for having me, logan bartlett. meantime, top investors and business leaders convening in miami for the future investment initiative's priority summit, kicking off today, focused on investing with purpose. the president is expected to be in attendance. and our david faber is there, too. morning, david. >> good morning. good to see you, carl.

>> it's been a little while. >> yeah. >> we're here. >> of. >> course. >> awaiting the president. >> later in. >> the day. >> sort of. >> kicking off, kicking. >> off the. >> conference. >> which will. >> include. >> well, a. >> lot of panel. >> sessions. >> many of which i'll be sitting in on, if not actually. >> moderating as well. >> conversation with safra. >> catz, for example. >> from oracle. >> and a lot of the participants. >> in fact. >> in the. >> stargate effort. >> that we have covered so closely. >> over these last few. >> weeks, given oracle, we're also. >> going to. >> hear from. sarah frier. she'll be. joining me tomorrow as well, the cfo of openai. >> and on friday at the. >> conference. >> softbank will. >> be a guest as. >> well here. not necessarily with me. >> although you. >> never know, carl. >> we can always hope. >> but investing with purpose, we're. going to. >> find. >> out exactly what that means. >> and what's behind. >> that phrase with richard attias. he's going to join me shortly. he's the man behind this, the fii institute. >> itself. >> of course, part of the private. >> investment fund. >> of saudi arabia. >> and we'll also. >> see how much. >> business gets. >> done here. of course, as you well know, carl, the saudis. >> have been.

>> a force. >> when it. >> comes. >> to investing. >> around the world. >> and certainly in their own. >> country as. >> well. >> and a source of funds. >> for so many. >> of the different efforts, including, of course. >> so much. >> of what we've been. >> covering in terms. >> of data. centers and ai. >> around the world. >> it is really good to have you there, david. what do you want to know from prior? >> well, there's so. >> many. >> things to ask her. i don't believe. >> sam. >> altman is going to be in attendance. >> but certainly we're. >> going to. >> talk. >> a bit. >> about the. >> now rejected offer. >> from elon musk's. >> xai, so to speak, to buy the. nonprofit arm, which. >> controls in many ways the. assets or the majority. >> of the. >> assets of openai. and we'll talk about deep seek. >> i mean, i can think about. >> so many different things. >> that's one i don't even think i need to prepare for. >> actually, carl, given how. >> many, how. >> many different questions. >> there are. >> in the immediacy. >> for. >> open ai as that company. continues to try, of course, to. >> transition from a not for. >> profit to a for. >> profit entity that. >> as we. >> reported a couple of. >> weeks ago, of course.

>> after the money comes in from. >> softbank and. >> some $300 billion. >> the numbers, as. >> we've. >> said so. >> many times, are stunning when you when you think about them. >> i was thinking of. >> you, david, because, you know, for the last couple of years we've talked about with jim in the nine certainly the dangers, the potential dangers that i could bring. and then this journal piece over the weekend, looking at the relationship between altman and musk and saying that they used to have dinners where they would talk about essentially the end of the world brought about by ai and how they could protect themselves where they could flee. our our concerns were not misguided, necessarily. you know. >> it's funny because. >> we have not been discussing. >> it as often as. >> we did. >> initially, sort of with the introduction of chatgpt back in late 2022. have we, carl? but, you know, your point is well taken. in that it was. the genesis for the creation of openai itself, was. doing it safely and obviously. >> as an argument that. >> mr. musk. >> is still making. >> that said, it doesn't come

up. >> as often, but. >> certainly something that i want to talk with sarah frier about as well. >> what do you think the impact of having president. >> trump there. >> will be? i mean, how often is he going to get sort of bum rushed by all the folks there. >> that want to. >> get their influence on him. >> a. >> little bit? >> yeah. >> i don't. >> know what. >> to. >> expect there. >> and you never do. >> of course, exactly. >> what the. >> subject is going to. >> be or whether he'll take a lot of questions. >> but no. doubt it is going to be. >> a very crowded venue. when we do hear. >> from the president. obviously that's. >> a bit later in the. day coming up near term here, though, ceo richard attias of fii is. >> going to join me. >> he's going to talk about his. expectations for the couple of days ahead, squawk on the streets right now. >> and today. >> nicole, our. >> marketing leader, will use. >> similarweb's digital. intelligence to win. >> her market. >> she begins. >> with a market overview. >> beautiful move on. >> to. >> traffic share. >> what a smooth. >> transition her competition is

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it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. to buy or sell before he. >> does it. join the club new member save with a special offer for a limited time at cnbc.com. terms and restrictions apply. charles schwab liz ann sonders opens her market playbook how she sees washington policy impacting the market, plus her biggest takeaways from earnings season. john fort, morgan brennan closing bell overtime today for eastern. cnbc. >> welcome back to squawk on the street the future. >> investment initiative. >> priority summit. >> kicking. >> off here today. >> in miami. >> of course fii ceo richard attias is here with me now. nice to have you. >> thank you for having me, david. >> bigger and.

>> better than. >> last year. this year we've got. >> cameras along with me as well. >> gives us. >> an opportunity. >> to talk. i guess. let's start off with the president. >> he's going. >> to show. >> up here later. >> any expectations. >> in terms. >> of what. >> it. >> is that he's going to be focused on, or what. >> you think the attendees here. >> would want to hear? >> you know, he will spend. >> one hour with. >> us, which is, i think, a lot of time. he will deliver a speech, which i'm expecting to be on geo economics. it's a unique moment to speak in front of an audience of global ceos, investors, private equities. we have more than 1500 people registered. so i think it's. >> a. great opportunity. >> for the president to explain also what is his agenda in terms of geo economics and how united states of america is also a great destination to invest in. so this is what i'm expecting. and then we'll have a conversation for 15, 20 minutes together, which i will try to discover. >> who is. >> the man behind the president. >> really? you can do that.

>> in 15 minutes. >> all right. we'll see. you can get that done. good luck to you, richard. you know the theme and. i've mentioned. >> it is invest. >> with purpose. >> obviously. we spend a lot of time talking on cnbc about investments. generally you want to get a good. >> risk adjusted. >> return when you. >> make an investment. >> does investing. >> with purpose imply something. beyond that? >> you know, at the institute. >> when. >> we started this institution five years ago, our motto was impact on humanity. and we conduct a survey every year, which is called the priority, trying to understand what the citizen of the world priorities are. and for three consecutive years, the obsession of citizen is cost of living. number two, health care. number three, climate change. so i think. >> it's important to. >> listen to them. we see many countries as you know better than me, which have some social issues and even some local international issues, because there is a disconnection between world leaders and their citizens. and i think. >> it's important. >> to understand that. so the point i'm making here is that if we invest with purpose, which is

if you invest. to really take care of education, health care, climate change, you can continue to make money, but at least you are investing with a purpose. and this is what we see is becoming a priority. and number two, if you remember well, after covid 19, so many young people and talented people started to resign from their jobs. we call that the great resignation. yes. and we try to understand why these people were resigning. the survey were proving that. >> young people. >> now they want to work for companies which also have a purpose, to feel this notion of social responsibility. so i think things are changing, and we have to send this message to investors and to our community. invest with purpose. >> it's interesting to hear you mention. >> climate change, at least. >> as number three on the list of concerns. it is not. >> a priority. >> it was even number five five years, three years ago, believe it or not. >> so it's. >> moved up. it's moved up, but still not at the level where world leaders are putting climate change as a big

priority, which is not really necessarily aligned with citizens. >> interesting. >> well. >> this administration is not. >> a priority at all. i think it's fair to say. >> i'm curious. >> as to how the saudis. >> which obviously. >> are behind. the fia. >> institute. >> are approaching it. >> then is your expectation that, for. >> example, at this conference. there's still going to be a lot of. >> conversation about things that. >> can be done. >> in terms. >> of. >> very carbon? yes. >> there is. >> a real. >> agenda on that. and the saudis are much more committed to being carbon neutral and to take care of climate change initiatives. we started in the kingdom of saudi arabia, a great initiative called the saudi green initiative, including the middle east green initiative with real actions, with real outcomes. planting millions of trees and even big, large companies like aramco and others have a real agenda, and i'm sure that you will have the ability to ask our chairman, who is also the governor of fx and the chairman of aramco, about how serious they are in terms of climate change and trying to be carbon neutral. yeah.

>> i mean, it is always surprising to hear one. >> of the world's. >> largest oil producers talk about. >> things in that. >> in. that way. but, you know, you hear a lot from big global oil companies today in the world. we know many of them, and they have serious agenda and action plan and roadmap on how to be more and more carbon neutral. it's a challenge, but they are more serious than we think. >> i hope to. >> be. >> able to. >> speak to yasir about it as well. finally. >> obviously, aside from. >> the president. >> anything you're. >> particularly looking forward to in the next couple of days? >> i just hope that i. >> will not be the only major point of conversations because they are everywhere. everyone, i think, understands that ai is not just a trend, but it's a transformation. it will be a new era, but we have many other topics that we need to talk about in terms of investment, including sport, including infrastructure, including food security, many topics that we have in our program, which i hope will not be underestimated.

>> right. it's all about ai these days, as you say. >> well, i will. certainly try to focus on all of them as well. >> richard. >> thank you. thank you for having me, david. >> thank you for having us as well, richard. of course. who runs things over here? courtney i'll send it back to you. >> thank you. david. >> we are. >> looking forward to. >> more from your discussions there. well, coming. >> up next hour. >> the health of commercial real estate with the. >> ceo of one. company managing more than. >> 4.5 billion square feet in properties and facilities. jll. we're back in a moment. >> trend tracker is sponsored by cme group. cme group, where risk cme group. cme group, where risk meets (morgan) we're all looking for someplace to call home. but first, you need a place to look for a place to call home. and that's homes-dot-com. because it's the best. (lawyer) i told you, you cannot legally say homes-dot-com is the best! (luke) what if she says it, as morgan freeman?

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are authenticated luxury resale shop. >> now with. >> code 20 for. >> 20% >> welcome back. >> to squawk on the street getting a news alert. from dc. let's get to emily wilkins. >> hey, emily. >> hey, carl. >> so we. >> are in. >> the race to get trump's agenda done. and through congress. and now president trump has weighed. in saying that he prefers the.

>> house approach. >> which would have a single bill which. >> would combine. >> basically everything energy, border. >> security. >> defense, as well as, of course, that major tax package that we're keeping a close. >> eye on. >> but here. >> in the. >> senate, we. >> don't have. >> exactly official. word yet on whether they're going to be moving ahead with their two bill approach. but several lawmakers who i've spoken with. >> this morning. >> say that they are do think that they should continue going. >> forward. >> just in case the house is not able to actually get their. >> package done. >> vice president j.d. vance is also heading up to the hill today. he's going to be meeting with senate republicans over lunch. and senator john cornyn said that he expects fans to lay out what the white. >> house wants them. >> to do and move forward in that manner. but cornyn also. mentioned that if the white house is saying that they need immigration funding asap, that the best way to do. that might still be through the senate bill. so a. >> race up here. >> to try and get everything done. and at this point, the senate's in and the house isn't. so at least at this point the senate might still have a bit of an edge. karl.

>> emily. meantime, some discussion about whether or not he boxed in speaker johnson last night by saying that medicare, medicaid, none of that stuff is going to be touched on there. >> yeah. >> that i think. >> comment was a. >> little bit. >> surprising because a number of republicans here. have talked about, yes, making sure. >> that medicare isn't touched when. >> it. >> comes to medicaid. >> a lot of them have talked about really opening up the hood of the program, digging through, making. >> sure that they're. >> not touching individual benefits. but finding other areas in the program where they could make potential cuts. but even there, karl, you have to keep in mind, there are a number of republicans who are worried about potential cuts to the program, as well as cuts to other programs that benefit americans, like snap, that gives food access. and so with the bill in the house, it did go ahead and clear the first hurdle. they got the buy. >> in from fiscal hawks. >> but when it comes to. the wider floor passage, it's not exactly clear at this point if republicans are going to have the votes.

>> emily, good stuff. >> thank you very much. >> keeping us on our toes like always. >> let's get to dom chu. we've got some movers here, dom. to close out. >> the show. >> all right, so, courtney, howard hughes shares are sliding right now after pershing square's bill ackman raised his takeover bid for the real estate developer. ackman said his firm has submitted a new proposal to acquire 10 million newly issued howard hughes shares at $90 apiece. that would give pershing a 48% stake. that transaction would not require regulatory approvals or a shareholder vote or financing, so it could be completed in a handful of weeks. ackman said, has said that he wants to turn howard hughes into a diversified holding company in the style of a modern day berkshire hathaway. so howard hughes, down 6.5%. garmin is moving higher after a top and bottom line beat on its earnings report. the company also proposing to raise its dividend. the fitness segment, where garmin gets about 30% of its revenue, was the real driver here. sales for wearables and other devices increased by 31%. forward guidance on revenue and earnings also beat expectations. so those shares up 12% and hims and her shares surging after it announced it acquired at home

lab testing facility tribe labs. the deal will allow the telehealth company to offer at home blood draws and more comprehensive whole body testing facilities. terms were not disclosed, but hims said that it funded it through cash on hand. shares have been on a massive surge, up about 575% or so amid increasing demand for some of its weight loss drugs. so with hims and hers up 16%, that massive move coming in just the last few weeks or so. guys, back over to you guys. it's a big move carl. >> dominic chu thanks, dom. talk soon. money movers begins after soon. money movers begins after this. don't go away. ♪ (action music) ♪ woah! i can't do it! agh! cut! this gap! it's just too big. bring on the double! aflac! after my hospital stay, aflac helped close the gap by paying me cash for expenses health insurance didn't cover. nothing covers gaps better than the aflac duck. aflaaaaac! aflac. get help with expenses health insurance doesn't cover. find an agent, get a quote at aflac.com.

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seize each possibility at precisely the right moment. cme group opportunity is everywhere. >> strategy at the market's final moments. >> we're now in the closing bell market zone here to break down the crucial moments of this trading day. >> market zone commercial free coverage sponsored by e-trade from morgan stanley. trade commission free today with no account minimums. >> good wednesday morning. welcome. the money movers. i'm carl quintanilla. >> is with us here at. >> post nine of the new york stock exchange today. what's the direction for the markets after the s&p and the nasdaq returned to all time highs? we're going to talk to an investor who's paying a lot of attention to. earnings from one retailer this week for some key spending trends and. the path of inflation. >> ooh, i think i. >> know what it is. then shares. >> of dutch health tech. >> company philips down big. >> this morning after reporting results, and. >> ceo will join us for. >> more on. >> the numbers and. >> how the threat of a global