people whatever circumstances are always offended about people or victims whatever else is not equity. that is it for us all be back next week with in-depth on the wall street journal at large. thank you for joining us. >> "barron's roundtable" sponsored by invesco qqq ♪ ♪. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead i'm jack otter. viacom ces bob bakish will join us with the new streaming service and paramount plus in the future of entertainment, we begin with what we think the three most important things investors on a thing about right now stocks tumbled this week as bond market climbed sharply there were corners of the market that did just five. big tech and high growth stocks

were hammered by the bond market climbed and is a growth undergrowth stock praise coming to an end bond stand to raise as citigroup on monday. on the "barron's roundtable" my colleague ben levinson carlton english and dachau, been an ugly week especially toward the end of the stock market for a long time we've been saying the high stock evaluations are justified because bond yields were so low, bond yields are backing up it is taking its toll. >> this week was about the treasury yield on the ten year, they have actually tripled, they were up over 1.5% even

1.6% virgin elastic down 27%, you know we all know that some stocks get hurt as yields rise, your staples, real estate investment trust, utilities, not like the beautiful utilities that is going to talk later on in the program but more boring utilities that is a yield issue they act like bond proxies but the glamour stocks can get her to it has to do with something called discounted cash for analysis. the robinhood crowd is not doing that they post five rocketship

emojis on reddit and hit the buy button and off they go. but growth investors who care about valuation they are doing analysis that depends heavily on what interest rates are today because of the connect companies that might not reach their full profitability for five or ten years down the road. it could make a big difference on what prices they could justify and that's why you've seen some of the glamour stocks get hit hard at a time where you see the high yields get hit hard. jack: we could spend an hour but briefly the future cash flows are less valuable if rates are going up. i want to ask you you spoke to a poster girl of growth stocks kathy would, tell me what she had to say. >> i forgot to ask about tesla we spent the whole time talking about campbell soup, of course we talked about tesla she was a buyer this week and i asked her what she saw and she said her

bare case for tesla at this point, bear case is that the stock will double over the next five years they are reworking their model but basically her take on the stock when you factor in the rate at which battery costs are coming down she takes electric cars will be flat out much less expensive than gasoline cars at some point in the future, barely soon and she thinks they will gain massive market share i asked her about bitcoin and she thinks it'll be worth trillions valued at less than a trillion dollars today. jack: i'm squeezing your time, let's talk about citigroup you have a cool story in this week's barron's about the new ceo who takes the helm on monday with a tough job ahead of her. >> jane fraser will be the first woman to lead a u.s. major big but it will be a turnaround project, we all remember last year erroneously spent 900 million to creditors they are dealing with that some regulators found weaknesses in

the control that they have to fix, and for a patient investor, citigroup does seem to be well-positioned expenses are expected to go up and possibly into next with attacking infrastructure issues but a lot of analysts are feeling bullish believing that the expenses will make the bank more efficient, maybe a year down the line we will see the stock buying and unders. jack: the bond yields backing up will help everyone in the financial industry, thank you unfortunately none of the 900 million made into my bank account, viacomcbs ceo bob bakish on the future of entertainment. that is next.

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jack: next week viacomcbs is releasing a streaming service with movies, sports and more joining me viacomcbs ceo bob bakish thank you for coming on this is a huge moment investors like to see is doubled since november. i have to ask you a question i know you hear a lot landscape dominated by netflix and disney is your company big enough to stay alone? >> taking for having me on were super excited what were doing was streaming were the only company to embrace an ecosystem of free pay and premium streaming that starts with the number one fast free television service in the united states as of 1231 we announced that has

30 million domestic mi use and 43 million global, that business is off to a very strong start add to that the paid service which is a signature move that we rolled out on wednesday which is paramount press, we are tremendously excited about that paramount plus is live sports, breaking news and amount of entertainment that is a differentiated product in the marketplace and as we showed entertainment is a lot bigger than people thought. we are confident we will be able to build on the momentum we are already seeing. jack: a lot to unpack let's start with the sports that's interesting were not seen a lot of sports and streaming as much as people toyed around with it how exactly would that work i'm a debt they own and eyecatcher games on cbs if that goes to paramount plus, will they in new york or offer all the cbs games at that time and what to the affiliates think of this new

york affiliate like having those jets game. >> paramount plus is built on the transformation of cbs all access and cbs all access has part of its offering for a number of years, a dozen through the inclusion of cbs live feed, it knows and as you pointed out the nfl and knows what market you are in you get that game et cetera. it's not only the nfl is ncaa, many different franchises and golf and we are acquired a european football that is exclusive home in the united states it is very strong sports offering and you've seen the nfl a key driver of subs, we do this as an important offering on a standalone basis and a differentiator in the marketplace. >> i want to pivot to a news

question, business standpoint, not a huge part of your p&l but it certainly is important from a cultural perspective, right now were going through time when it's a long way from the days, people in this country literally don't agree on the facts much less opinions of those facts, what is cbs news and your other news channels your morning shows what are they doing can they do anything to bring the country back together so we agree on a shared factual basis and we can make our opinions from there. >> cbs has a long distinguished incentive broadcast news back in the day in our mandate is news down the middle, clearly there is all different shapes of news out there we tried to tell the story as it is so our viewers can decide in what they believe or not believe we do that and a range of different formats.

jack: there are concerns always justified in my opinion but censorship in the marketplace this has more to do with the platforms the social media platforms than what you are doing but still you're in the business of distributing information and you play a key role do you have any concerns on that score? >> i believe in freedom of information and people should be a diverse set of perspectives certainly through the media in an ocean centering media is about idea and yes i have read some of the letters circulating around as you point out to adjust us more to the distributors but nonetheless i think it's very important that the american people and for that matter and citizens all around the world are able to pick the news and hear different sides of the story at cbs we play down the middle we think that is important but consumers need access to information in

censorship is about idea. jack: one more question along the lines of platform question is really interesting you decide and cbs decides who comes on the news fox decides who comes on the news the wall street journal decides what topics they will cover this is not the case with the platform that basically anybody can publish anything up to a certain point, that has caused problems the weaponization of misinformation on the one hand but when you try to crack down it looks like censorship what are your thoughts as a consumer and publisher of how we ought to handle that as a nation. >> is a complicated issue and we've always focused on key ration and quality in checking the facts not all platforms operate that way i would suggest you talk to other platforms for their point of view i think it's an interesting question and that

larger needs to wrestle within the social media days but our focus is providing quality news, quality sports, quality entertainment of a broad range of genres and demographics to people not only in the u.s. but all around the world including the paramount plus. jack: thank you very much for your time. utilities one of the most utilities one of the most underappreciated sectors on wall we started with computers. we didn't stop at computers. we didn't stop at storage or cloud. we kept going. working with our customers to enable the kind of technology that can guide an astronaut back to safety. and help make a hospital come to you, instead of you going to it. so when it comes to your business, you know

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let's start with utilities what is the bullish for the stocks. >> it makes it seemed like their dodgy but the industry is there than it's been in decades in wall street does not seem to appreciate that there is two big trends going on utilities or replacing power plants fired by coal and fossil fuels with renewables wind and solar and utilities also offer underappreciated way to play the greening of america as record vehicles replace the engine, the group has badly lagged the market in the past year and the stocks offer dividend yields in 3.5% earnings growth could run n produce total return to 10% which could stack up very well with the stock market and bond. jack: reduced outlook over the

coming decades, i think you meant combustion engine. i want to ask you about texas where we saw a lot of problems with utilities and before that california they had to declare bankruptcy because the power lines started forest fires, should i worry about that is in utility investor? >> i would not worry too much about texas that was a peculiar situation in the texas market and is not reflective of how things are across the country california is a unique situation given the wildfire risk and which will continue and that's reflected in the low valuation of california and utilities like pg&e and international. >> on the upside of renewables the marginal cost of more sunlight and more window 0 some investors think that will help the bottom line. >> it should help the bottom line be companies can add renewables to their fleet and they can earn decent returns that is one reason why you're going to see the growth of

6 - 7% annually for an extended period of time as these renewables get added. >> what should investors buy here? >> there is not a lot of differentiation among electric utilities so etf's like the utility xl you and a similar vanguard are good ways to play in the yield over 3%. >> you're going to hurt my feelings if you leave me only with etf's are the individual stocks you like? >> there are a couple, american electric power in the midwest is replacing its coal-based fleet with renewables it yields almost 4% and kim underneath the east coast has 0 carbon in its building out the renewables could be the largest offshore wind farm in north america off of the coast of virginia it yields about three and half

percent, exelon which is the big midwestern utility has a very attractive electric business and it will spin off its independent power business. >> andrew it is ben levisohn, with rates going up one that hurt the stocks? >> that is a risk but utilities have been hurt by the rise in interest rate this year and utility dividend yields are usually attractive versus bonds historically in their some of that risk baked into the stocks in the outlook but it would probably take a big rise in interest rates for the stocks in outlook. >> andrew you mentioned renewables earlier and a lot of the criticism it's tough to store the electricity when the sun is not out in the wind is not blowing how can utilities adjust the problem was to mark. >> utilities are working hard to develop storage batteries to store powder underpowered and

tied them over the course of the day that is a risk but there's a lot of investment going on and most utilities are confident they will be able to do that over the next decade and utilities will need to retain natural gas and other fossil fuel fire generators to basically provide protection against the times when the wind is not blowing and the sun is not shining. jack: andrew barry, utilities definitely interesting and for entering a bear market in bonds maybe there will be a nice proxy. (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future,

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out for you? >> about that i said you might want to wait a while to avoid paying a pandemic premium and then my wife found a house she really liked and it was all over. we are going from the center of our town where the houses are fairly close together to the outskirts where it's woodsy or and i plan to walk in those woods and meditate on my higher property taxes i spoke this past week with the manager of a top-performing called barron real estate no relation to barron's. and you can hear the bering strait white podcast but the outlook for people buying houses he said there's a powerful combination of cyclical tailwinds, there is still a housing deficit in this country, there you have it apparently i

am writing some powerful winds. >> let's go to some idea. >> what you have for us. >> i had mcdonald's the recovery from the pandemic really quickly and it's gone nowhere since then it's down neither beneficiary and the lockdown or reopening the stock was upgraded by wells fargo this week and they see signs of momentum pick it up for the company that is the case the stock could be really interesting. jack: fries and a chicken sandwich. >> as jack is spending more time at home i'm betting people are looking to get out and out this time last year i said people will be looking to go to a sports event, concerts at sort of thing i am looking at madison square entertainment the spinoff of msg and liked by john rogers who is interviewed by barron it is a reopening play and has picked up a little bit senses got positive vaccine data news but has more potential.

>> going to a basketball game or rock concert looking forward to those days again, good luck with the new house, check out this week's edition at barron's.com. that is all for us, >> from the fox studio in new york city this is "maria bartiromo wall street". >> happy weekend everyone will come to the program that analyzes the week that was in position you for the week ahead i am maria bartiromo biden's massive stimulus bill stripped of a major component in the senate. i will speak with north dakota senator kevin cramer on what happens now and later president trump takes the stage at cpac this weekend karl rove is here what we can expect as republicans look ahead to 2024. first let's take a look back at the week's big moments in this