eventually become losers. yeah, there's a come to jesus moment when you have a bad pick, you've got to make a decision. but right now i think worst thing to do is if you haven't sold and a company still has great fundamentals, you should probably ride it out. and one thing he did on this show today, we looked for opportunity. that's what it's all about, finding opportunity. i can't speak for the white house, but the country will get through the possess them. i think liz claman agrees. liz: well, yeah. we always get through it. this is the usa, man. we make it through. all the way since the sons of liberty. all right, it may not be with a full-throated follow through of friday's big equity rebound, but look at the cow. we do have it very close to session highs, higher by 317 points. oh, and, yes, s&p up 24 points, two-thirds of a percent gain. the nasdaq just turned positive, let's see if health care hold, it's up 2 points. -- if it can hold. and the russell 2000, yeah, 2000, it's the up 1.5%.

so a decent bounce here. but you want to see a real bounce? look at shares of first citizens. the north carolina retail and commercial bank is powering higher by 55.25%, i belief that is a session -- believe that is a session high right now, on confirmation it -- do we want to say bid or was begged? [laughter] to buy what's left of silicon valley bank after it became the largest bank to the implode since lehman brothers in 2008. here's how desperate regulators were to unload svb: in order to calm the banking system which, as witnessed on your screen by the kre etf month to the date chart, was whipping all around after svb's collapse. the fdic allowed first citizens to strike the deal of the century. first citizens will buy around $72 billion worth of svb assets at a discount of 16.5 billion. no cash up front, 500 million,

maybe that much, not even possibly, in stock, and the fd -- fdic says it will share commercial loan losses. the deal sparked a collective sigh of relief in shares of fellow regionals. first republic has been the one really strug struggling here,st it's up 1 the %. the rest of them -- 12%. the rest of them by anywhere from 4-6%. key corp. up 6.33%, it even snagged a buy rating from citi today even as minneapolis fed president neel kashkari is now warning9 that the recent bank turmoil could bring the u.s. closer to recession. treasury yields are rising once again. take a look at the 2-year, rebounding from a 6-month low over the weekend. up now about 23 basis points to 4% even, and the 10-year is up 4.7 basis points -- 4.7, to 3.52%. so is this it? is that it? fifteen days after two bank

collapses and warnings that a couple of regional banks have the same balance sheet problems that silicon valley bank had, that a bunch of them could actually be insolvent, is the sun now shining and money flowing again, or will ripples urn into a tsunami-style credit crunch? let's get to the floor show. investment. s co-cio dana dorr ya and kenny polcari. kenny, are investors in the clear, and are we back to fretting about, i don't know, core pce inflation data and quarterly gdpsome. >> well, listen, we are going to be fighting about the inflation data, i think, for a while to come. but i do think today is much better for the banks although i'm not sure we're completely out of it yet. i suspect there's going to be continued volatility as this all is settles down. but i do think, and you and i spoke about this on wednesday, i like the group. i think it was overdone. i think news like today with citizens buying silicon valley at a deep discount and getting

support from the fdic also helps to stabilize. you've seen what's happened in the other regional banks. bank of america's up 5% today because i think they also killed that one much more than was necessary. but it's that overreaction. so i'm excited about the banking, this banking sector. i am treading lightly, but i do think that that there's huge opportunity here. liz: i'm excited that you remember what we talked about on wednesday. i can't remember what happened four and a half minutes ago. [laughter] is that just me? deign the that -- dana, what now is the lesson that investors must learn from what happened with silicon valley bank. >> i think there are so many lessons, you know? and i think a big one that, you know, we had some back and forth before this session, obviously, is what happened -- being aware of overleverage. you know, we had just a period of very abrupt, very sharp rate increases, not what the market is used to. not, frankly, what management

teams are used to, right? i mean, think back on enthe years of, you know, just easy credit. so now you have all that comes with this sudden change of events, it's a paradigm shift for a lot of the corporate teams that are, you know, currently running companies. so if you are, you know, moving forward in this kind of a market, you need to be careful of companies that cannot fund themselves with their own cash flows, are dependent upon leverage that they may have built up when times were really good. liz: okay. so compare debt to equity, these are things people should be doing no matter what kind of stock they buy, correct? diversify -- >> yeah, if you are buying individual stocks, you know, some of the basics, right, are things like in terms of whether if you're looking at fixed income investments, you know, it's what's the coverage ratios and, you know, can companies pay off their debt, right? what are their assets relative to their liabilities. what is their operating income

relative to their interest payments. those are some of the basics. but i would say to you that for the average investor teasing out, i mean, companies know this, these are very basic fundamentals, teasing out the laggards and who's got hidden problems mt. balance sheet is a lot more complicated. liz: i know. >> and for the average investor, it's more, i think, about not being caught in a concentrated position where if something does go awry, you have too much betting on that a one piece. liz: kenny, that's why warren buffett says when he gets an annual shareholder report from a company, he starts from the last page and moves to the front -- >> yeah. liz: often they put the worst news at the very back. but let's quickly talk about what treasury yields are doing. if people last week said, oh, i missed the opportunity to park a big chunk of cash at 4.5% or 5%, is a 4% clip, is that good right now for a 2-year? would you say park some money

there? >> i think if you're -- [inaudible conversations] liz: kenny. go ahead, kenny. >> i think if you are nervous about where the market's going the over the next 3 or 4 months, there's certainly nothing wrong with -- understand, two years in my mind is a long time to tie up a ton of money. a little bit, maybe. but if you think this market's going to turn around, you want to have access to that, so i'd go shorter duration, 3 and 6 months unless you're so nervous you say, you know what? i'm going to get 4%, i'm going to put it there for two years and not think twice about it, then, yeah. but i think it should be shorter cure ration. liz: dana, do you agree with that? >> you know, so i would say there's certainly value in very short duration and not taking interest rate bets. i would say for the standard client who's across fixed income, you probably want to be at different points in the yield curve but not necessarily predicting interest rates. i think more where i'm looking to on bond markets and yields is more what's telling us about

rates -- where rates and the curve in general are going to be, and, you know, is it indicating that,, you know, recession is kind of on the way, right? we had inversion for a long time. obviously, the steepenner happened when suddenly yields were dropping at a dramatic, dramatic pace, and i think that tells us all something about where markets are going to be, concerns about future recession, future volatility in the market. and i think for most clients the takeaway would be am i properly diversified with my if investments, both fixed income and equity, many case of troubles ahead? liz: kenny, give me some names, and my question is focused a lot on what happened and the behavior of investors over the past two weeks. they rushed into big cap tech, and they suddenly interpreted large are cap names and large cap tech as defensive. does that equal -- >> well, they also -- well, listen, they also thought that, you know, this pricing in the

market now that we're going to get a 100-basis point rate cut by the end of this year, and that eastern certainly going to the help the big tech names. look, many if big tech, like dana said, you want places that have big with cash flow, apple, amazon, all the big names that -- microsoft, ibm, all those names that are big tech names would be places that not only do i own, but i do find kind of some safety and security if those names. i'm not -- those are not the names i'm worried about at all, and they generate men -- plenty of cash can. liz: and, dana, is that the interpretation you got from the behavior last week, and is it the right path to poll? >> oh, i think the market thinks there's a pivot coming, yeah. you think about these big tech companies and the fact that they're growth companies, so a lot of the value is in the terminal value. higher interest rates that you have to discount against the terminal value's worth less, so you think there's going to be a pivot, rates are going to drop, then all of a sudden they look more and more attractive.

but what ill say to investors is think also about the standard defensive quality plays, right? so fundamental quality indicators, you know? low volatility, which is more of a technical indicator, right? these are defensive plays that are sort of over time more tried and true areas of the market where you can kind of hide out a little in bad times. and the other side i could say, look, if you want to and you're willing to kind of take the bents and, you know, be in the market for a long period of time, look for the lower valued securities, right? we were talking about banking. i mean, that might be a very uncomfortable place to be for a while, but if you want to be in small, mid value which, you know, is getting beat up but over long haul has been shown to pay off, you've just got to be able to stick with it. liz: dana, kenny, thank you so much. and while we were talking, the nasdaq could not hold those gains, it's down about 11 points. but right now it's just kind of hovering below and above, we'll see what happens in the next,

call it 49 minutes. a a 130-year-old american icon having a coe cac moment? up next the ceo of eastman coe cac is here about his company's foray into a super hot business that could help the tide for kodak's embattled stock. with the closing bell ringing in still 49 minutes, we've got the dow jones industrials up 3 277. -- 277. it is the transports the that's having just a solid session, up 1.6% or 223 points. "the claman countdown" is coming right back. muck there. ♪ ♪ ♪ ays remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. ♪ what will you do? will you make something better? create something new? our dell technologies advisors can provide you with

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as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network, with no line activation fees or term contracts... saving you up to 75% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities™. liz: remember this? for a brief shining moment in july of 20 to 0 when it got swept up mt. meme stock mania,

coe cac's shot stock moon shot to $21 a share. it has crashed back to earth and at about $3.83 a share, those prone to i guess you could call it notal ya wondering whether the iconic american industrial company known for its insmatic cameras and flash cubes, will it ever soar again? well, maybe thanks to its newest foray, it has a shot. kodak is taking its knowledge of film and chemicals and diving into the ev battery sector. all while it continues to make traditional film for movies and cameras, a business that's suddenly showing renewed pulse. in a fox business exclusive, kodak ceo to tell us more about it: jim, how exactly is kodak entering the ev battery business? because i'm not sure a lot of people know this. >> you know, liz, it's interesting, and we kind of came upon in the last four years, making film can if making batteries is almost identical. it's really coating, and we've

been doing it for 130 years. you take product, functional materials like we assemble them with a slurry instead of a solution s and we then -- it's a flexible -- that we call, difference is it we do it in the light where film's done in the dark. it's a similar process. so we brought it to doing coating for ev battery substrates. we're doing the coating of the a battery senate substrates. liz: it's interesting, when you audiocassette to pharmaceutical company, sometimes they come up with one medication for a certain ill, and it turns out it can do exact same beneficial moves for a totally different disease or what have you. so it feels like that's what you're saying, that something that you have in existence is now workinginging toward ev batteries. there is a huge demand for that. i know you own a portion, you took a part in a certain battery company, is so give me a sense of why wouldcat and concern wildcat and how you are using that pickup to start this new

sort of arm of it. >> so when you look at the battery, we also have a pilot coating facility and immediate to fill in that gap. through our facility we've taught others how to do large scale manufacturing. you realize the amount of film we make percent world, that's an important piece, butst the showing other companies how to continually build out. then when we looked at different investments, wildcat came up. we took a minority stake, great management team, kind of a breakthrough technology, and they're developing an ev battery that'll be about 90% more efficient in kensty in today's best batteries. so if you looking at the evolution of the battery, they're really taking the technology leapfrog. so we like the minority investment. we will work with the pilot coating, we will also work within the components of developing the battery. they're going to do the chemical aspects of it. so it's a good marriage between our expertise and theirs.

we took a minority interest. and then bmw has now joined with the jda, but the management amendment there is just phenomenal. we don't take credit for the work that they're done, we're just kind of riding along and appreciate what they've done. liz: you just said bmw. can i guess that they'll be one of the companies with whom you would work to provide batteries? >> no idea at this point, but they brought a lot of knowledge to the battery business, right in and that's what helped wildcat. it's separate from -- it's really not even within coe cac. it's a small investment but something that we really like the technology, and heir helping advance it with the knowledge that they brought to the table. liz: you guys can kit the camera-making business a while back and obviously since 20 the 12 when you had to declare bankruptcy, before you came in, it has been a rough go. but tell me about the film business because you've got movies like the fablemans which used your film to, you know, there is that sort of feel about reel film and some photographers still stick with it because they

like the authenticity of it. >> you know, i'm proud to say that we put an investment back into our cap-x, and a lot of it was driven by a director who called me on my sector third day telling me the importance of film. so so we took a hard look at the business and invested pretty heavily the first couple years and made a major urn the around. we were running one 6-hour shift, today we're running 4 shifts of 6-hours and pretty much sold out of capacity. there's been a good resurgence not just from hollywood, but also the content films when you're looking at netflix, hb if o and other con end the being developed. concern content being adopted. the one-time use cameras at events including my son's wedding, we had those cameras everywhere because then you get the pictures that people take at the parties. and there's a bit of a trend where people keep taking photos, then they take pictures of themselves with the -- then they

post it. [laughter] it's interesting, but we'll take that one. liz: listen, i was a big fan of coda chrome, gives you the nice bright color. >> it does. liz: yeah, it sure does. so do we see a return of the instamatic? you go on ebay and you've got gen-xeres trying to buy these kiss pose bl cameras -- can disposable cameras. could you ever foresee bringing something like that back to the forefront and spending money -- >> yeah, we're not going to -- the one-time use cameras continue to you. we see resurgence in that industry, and we're by far the leader. we stuck it out, we stayed with it. it's part of our culture, of who we are. we had a change of business when i stepped in to do we do print which is the majority of our business, and we have experts in chemicals, and that sits in that group. coating and lay iering, this is what we cofor 130 years and it's

just important to stay in film. and using skill set throughout other developments in the park. liz: jim, this is one brand i think a lot of people would like to see survive and thrive. it's so iconic. so please come back as you continue to, hopefully, strengthen this company. >> oh, or thank you so much for your time. it means a lot to me. we want to bring back in this iconic company, and we're doing the best we can. we've had two consecutive years now of growth, and we're moving to profitability which we need to do through a really tough time in the world. but i've got a great team that's doing it. this is not jim show, so we're doing everything we can. liz: jim, thanks very much. >> thank you. liz: for the millions of would-be photographers pinning their photos on pinterest, why is ubs pinning its hopes on point if rest's stock? we'll tell you why ubs is so bullish on the digital mood board leader. and turning our attention to the a national story making headlines at this hour, cousins of people were can kill killed concern dozens of people were

killed as tornadoes wreaked havoc through mississippi and alabama friday night. our parent network, fox corporation, is doe the nateing $1 million to the american read cross, also, by the way, counsel matching employee donations, so if you'd like to coe the nate, please visit red cross.org/fox forward. dow jones industrials gaining 268 points. we are coming right back, don't go away. ♪ ♪

and i remember kind of thinking like, "oh my gosh, i think we could be sisters." because i think we looked... yes. right. yeah. and i don't think at that time- i think you're the one to tell me that we had the same birthday. yes. it's really unbelievable when you think about it, because it's been, like, really over 20 years that you were my mother and father's banker, you became my banker and now

fran is in her third year of college and you're her banker. it's so unbelievable because i'm just 20 years old. [laughing]

liz: fox business alert, we do have the markets still mixed, pretty much in the same colors that we were at the top of the show. so the dow and the nasdaq in the green -- sorry, dow and the s&p in the green. nasdaq just down about 10 points. i want to flip it over to some individual stock stories. novartis having a really solid session, up about 8%. that, by the way with, would make it on pace for its largest percentage gain since march of 020 the after reporting positive trial results for its breast cancer drug. the trial day a show a significant reduction in the recurrence of early stage breast cancer. jeffreys says the drug could represent -- usually it's a $1 billion, this is a $6 billion sales opportunity for the pharma company. we shall see. in the meantime, silverdate cammal -- silvergate capital gaining at this hour after it was reported it voluntarily prepaid the remaining principal on its $205 million loan from the crypto bank.

so silvergate shares jumping 16.5%. we should mention, of course, it's currently in the process of lick by candidating its banking business operations. the death blow came from mass withdrawals triggered by the november collapse of and fraud allegations against crypto brokerage ftx. so while we cough microstrategy down about a # %5% right now, it has recovered its post-ftx bankruptcy losses and is up about 21% over just the past six months. since we're talking crypto, the let's look at bitcoin at the moment. we cohave it lower by $# 326. microstrategy did say it held 34,600 bitcoins in a collateral account established under the repaid silvergate loan. investors are pinning their hopes on pinterest after it was upgraded from a neutral to a buy and raised its price target from

$27 to 35. pinterest right now is at $28.26, it's gaining 2.8%. ubs cites improving ad trends and good ad technology execution. early his ther feedback on pinterest's partnership with live ramp apparently shows significant improvement in making those ads more efficient. while that social media stock gets a bump-up today, the ban tiktok the contingent9 says it just got one step closer to booting the chinese app here in the united states. after the ceo faced off with law makers last week. but what about the other contingent, those who have urn thed the chinese-owned social media papp into an atm machine? up next famed tiktok influencer cat stickler is here live. with nearly 10 million tiktok followers, the single mom makes the case on the impact the loss of the popular app would have on her life and income. is and we will ask her which social media channel would she

turn to if tiktok does get banned. closing bell, 29 minutes away. you've got to the hear cat, she's one of my favorites. she's hilarious. and she's honest. so let's hear what she has to say. we're coming right back. ♪ ♪ known as a loving parent. known for lessons that matter. known for lessons that matter. known for being a free spirit. no one wants to be known for cancer, but a treatment can be. keytruda is known to treat cancer, fda-approved for 16 types of cancer. one of those cancers is advanced nonsquamous, non-small cell lung cancer, where keytruda is approved to be used with certain chemotherapies as your first treatment if you do not have an abnormal "egfr" or "alk" gene. keytruda can cause your immune system to attack healthy parts of your body during or after treatment. this may be severe and lead to death. see your doctor right away if you have cough,

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♪ liz: while a bipartisan group of u.s. law lawmakers is pushing harder than ever to ban tiktok, mexico's president is resoundingly slamming the door the shut on the idea. in his morning news conference today, president lopez obrador promised, quote, complete freedom for the popular video app. are any u.s. lawmakers now having second thoughts after last weak's capitol hill skewering of tiktok's ceo shou chew? let's take the it live to

capitol hill and grady trimble. they've had the weekend to weigh a ban and the whole first amendment and free speech issue. think shift in what at least some lawmakers are saying today about tiktok? >> reporter: liz, i'm not sure if there's a shift, but some still haven't quite made up to their mind, others are leaning in that direction especially after last week's hearing though none of them seem to exactly know how a ban would play out when this app is already on 150 million americans' phones. we do know that house speaker kevin mccarthy tweeted this weekend, and he said it's the very concerning that the ceo of tiktok can't be honest and admit what we already know to be true. china has access to tiktok user data. he says the house will be moving forward with legislation to protect americans from the technological tentacles of the chinese communist party. it's not clear the exact type of legislation he's referring to, but there are several bills in the house and the senated that would ban tiktok or give

president biden the authority to ban tiktok. but even lawmakers who have serious concerns about the app and its links to the china aren't sure if an outright ban is the right move. do you support a ban right now? >> you know, we're in that fact-gathering phase. i am leaning that way. >> i believe that to crease the immediate national security threat, we need to ban tiktok. >> i know that it's very attractive to say ban outright, but sometimes you've got to think more strategically. i think the bigger, broader issue we need to look at the is the national data privacy standard. >> reporter: you just heard from the lee republicans with three different answers to the same question about banning tiktok. some say say banning it is the first short-term thing to do, then after that you can look at more comprehensive data privacy laws. ohs say let's just skip right ea ahead to the broad data privacy laws and do that. and that would apply not just to tiktok, liz, but other social

media companies in the u.s. as well. but they all seem to agree we've got to do something about tiktok, particularly as it relates to its eyes to the ccp. liz: grady trimble, thank you. and perhaps lost in the shuffle of this tiktok war are the thousands of influencers and content creators who make their living off the app like florida mom kat stickler. she's got 9.9 million followers on the app. kat started off posting on tiktok years ago, but odd the her humorous posts about being a single mom and her imasians of her hispanic mother have brands like am, k jewelers, folgers, state farm clamoring for her endorsement, posting comedic videos closely following her life story and experience, as we said, of a single missouri kat is here with me live to give her take on what would happen to her and her income if tiktok were banned in the u.s. kat i'm a fan. i've watched you on tiktok. [laughter] you're very personality-driven.

walk us through i the people who are not tiktok savvy or who are outright existence it about what a ban would mean for someone like you. >> well, i mean, tiktok is my main source of income. it's how i provide for my cower and myself, you know -- my daughter and myself, you know, it's just us. but i think the question i'm kind of starting to understand, i watched the whole -- i'm trying to understand this, i thought, oh, it count represent to me, so i'm not going to pay attention to it. but now that it's getting more serious, i believe that tiktok should be subject to specific regulations by the government. and i believe it should be tailored to our national security interests. i also believe that every other social media platform should have that same restriction as well. but i think banning tiktok instead of regulating tiktok is silencing over 150 million u.s. users, and that's very un-american. liz: tell me about the moment where you started to really see

the money come in and what you felt if you were able to do for companies like folgers and amazon and all the others that have rushed to you to the help, have you promote their product. >> well, i think i started seeing the money coming in when it was mid-covid, tiktok started picking up. i really started noticing it when i would open up -- so i got on the platform doing comedy, and i also talked about i had post-partum depression, so we had a whole community of women who experienced that. it was always very good for me at making a community and bringing people together, especially women. and if i had a very are public divorce, so it was also very nice to have, like, people with me and in my space supporting me. i think the difference is, one, you can choose who you work with. it's not like if you don't work with this company, you not going to be able to pay rent. it gives users a really honest feedback. i've said, hey, i don't like

this product, i wouldn't get it. i've also said i love this one, get it. and i also add it just adds a vulnerability and transparency that is kind of new to social media, i think. liz: we've been showing some of the clips of you with your very young child, and part of the issue is that children are subject to the some bad effects about social media. we now have the utah governor, spencer cox, coming out and saying that he, unless teenagers under 18 have approval from their parents, they should not be allowed to use social media. here is what he said, and then i want your reaction. >> we banned tiktok on state computers. that's very important to us. and, you know, that previous congressperson talking about how it's the same as all of these others, it is not. now, i agree that there are data privacy issues with all social media company, but what we know about tiktok and what's happening in china and their relationship with the chinese communist party, i would absolutely support a ban on tiktok. liz: so, kat, are you worried at

all that your personal if information is somehow being utilized by the chinese? have you seen any sign of that? >> i mean, i know that every time i go out with my girlfriends and we talk about, hey, we should take a moms' trip to the bahamas, when i get back from eating with them, my phone pops up with ads for the bahamas. liz: that happens with google though too. >> yeah, it happens everywhere. it's not like a new issues concern issue, it's happened since i can remember. and i coagree every social media platform should be regulated. i don't think. the it should be, yeah, at school, government phones, i'm not saying that, but this has been an issue for a long time. liz: we are listening to your speak very eloquently about this issue, but you are a comedienne. and some of your funniest stuff that gets millions of views are your imitations of your hispanic mother. i want to to play one of them,

and i i want our viewers to listen to how she's speaking and how she imitates her mom. >> and how do you know? if because i was also -- [laughter] i wanted them to think i was one of concern. [laughter] they said, like, you do tiktok and your toddler and how you are really bad posture, your boobs are so flat. [laughter] liz: i love the ones where your mom crypt sizes you, because we've all had moms who criticized us. but, you know, tell me about how you turned imitating your mother into real dollars. >> i think instead of thinking about it as making money, quote-unquote, i thought about it as building something. it is a brand, you're building something, and you're building trust. and in order to build that rust the, you have to be trustworthy. so that's always been at the forefront of everything i've put up. and the more transparent i am, the easier that is to happen.

so, like, i kid the go through a divorce, right? but i also added humor to something that was the really pain. and i also add the raw, vulnerable stuff. like, for co-parenting, missing time with your child. but ific the doc has a very beautiful gift where you can reach so many people and connect with so many people who are going through the same thing, and it's built a really beautiful community. like, i wouldn't have been able to support my cower without tiktok. it's, like, i'm forever grateful for it. and, yes, if tiktok ended tomorrow, i would be okay. i would be okay -- liz: where would you go? which platform would you choose? >> i've always had a lot of them. i'm starting to work on youtube and facebook again. youtube the, facebook, instagram, i've always been using. but there was something about tiktok's algorithm that was just better than everyone else's. it just reached more people and you'd hear more story ises. you'd just reach more people. liz: well, before we go, i have to ask in your mother's voice what you think of your interview

with fox business. [laughter] >> oh, my gosh. [laughter] she's out there, like, waiting for me to come out. liz: is she going to criticize your performance? >> i don't -- okay. i'll cowhat she would say. she would like, i know exact my what she's going to say. i think you did very good. i think the shirt that you wore was a little boring, but that is okay. i think your shoulders looked so nice. i'm really proud of you. like, nothing about what i said. [laughter] liz: all right. well, i really appreciate this, and we'd love for you to come back as this ban story continues. can we get you to come back in the future, kat? >> oh, my god, i'll come back, liz. i want to come back in person to sit with you. liz: please. anytime. i've got the seat on the set. kat stickler, thank you very much. [laughter] all right, what does first citizens' acquisition of parts of silicon valley bank mean for first republic, which was really sum the bling over the past

couple of weeks -- stumbling? charlie gasparino has the very latest on that regional bank next. closing bell, 14 minutes away. we are coming right back. dow jones industrials up 231 points. ♪ ♪ t erosion and cavities is strong enamel- nothing beats it. new pronamel active shield actively shields the enamel to defend against erosion and cavities. i think that this product is a gamechanger for my patients- it really works.

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♪. liz: following last night's sale of valladares bank to first citizens bank look at first republic shares. they're up on the rise up 13% right now. at this hour there are still concerns over its balance sheet and a lack of buyers thus far. joining us now charlie gasparino. charlie, who has been if anyone looking at first republic's books. >> steve mnuchin looked at it. liz: you mentioned that. >> i understand goldman sachs looked at it. the goldman one is interesting. they're saying they're exiting from retail banking, right? getting out of the marcus online retail banking effort started in with lloyd blankfein, expanded under david salomon. liz: big loser. >> windings that down. i understand they looked at the books. does that mean they want to buy the whole thing? i doubt it. do they want to buy a piece of it? the loans? if it doesn't sell it could go under. if it goes into receivership the

loans are sold in the secondary market. will goldman look at it for its own trading purposes. liz: do i clarify, first republic has to be sold, cannot stand on its own? >> it will be difficult. this gets back to the premise of the story if you look at assets and liabilities, it has many more liabilities than assets. its loan book is way underwater. its assets, for example, of treasurys and loans to the rich guys, you saw all people borrow from it at very favorable rates, those loans, the thing technically, would be from what i understand as a blue chip clientele, has a great business if you took out assets from the liabilities there would be a negative there, okay? that's if you have, that is if you have to sell. now they're getting more capital. jamie dimon is doing what is known as a club deal, trying to raise money for them to fix it. liz: 88%. the month to date, the stock is

down 88%. >> i'm telling you, speaking with people that have seen the books. this is not a great situation. one of the problems with selling it to somebody is that everybody wants a sweetheart deal. did you see the svb? liz: deal of the century. said it at the top of the show. >> they want something like that. does the government do that again for first republic? they would be basically bailing out a lot of rich people, just so you know. it would be redo of silicon valley bank with the political issues involved for to save systemic risk would be rational basis of that. liz: isn't bailing out any bank bailing out anybody? signature bank? >> the problem most of these banks are above, their deposits were above the threshhold. they had a specific business they were developing. rich people that put, and businesses, vc type businesses that put a ton of money in there, never thinking they were going under. all of sudden boom, they go

under. we're not talking about grandma millie with 100 grand at jpmorgan or citibank. liz: grandma tony. >> got to get the names at. goldman looked at it. steve mnuchin's private equity firm looked at it other pc firms looked at it. what is scary assets minus liabilities there is a negative. not good. liz: charlie, thank you very much. closing bell, we're about five minutes away. it has been a choppy day of trading for the nasdaq. the s&p, holding on to gains of 12 points. high of the session for s&p was a gain of 32. dow jones industrials up 220. the dow looks to close the day in the green. the nasdaq though apparently down 42 point, looks like it will snap a two-day winning streak. baird is downgrading industrial equipment-maker caterpillar today as well as the equipment rental company united rentals on

concerns that the companies could be hurt by what charlie was just talking about, the ongoing banking crisis. according to the baird analyst, tighter credit conditions going forward could mean, or cause a meaningful slowdown, in new small, medium-sized non-residential projects in 2024. however our "countdown closer" seemingly taking the other side of the trade recommending two stocks that benefit from construction projects. joining me now with 1.2 billion in assets unmanagement, hudson valley investment advisor, ceo, chief investment officer gus sacco. why the names, why are you taking a position in those? >> higher interest rates. granger when you have cost of capital now, all of sudden they become more important. all of sudden you don't have to hold assets within the company. they're great distributor help you worldwide getting different equipment that you need at a lower cost. the other one that we like, that analysts community actually

likes quite a bit is lincoln electric, 110-year-old welding company. that is a growth company. you don't hear that too often, those two words together. liz: why do you call it a growth company? >> they have a great book spark. talks about their management style. they are getting productivity gains, improving their processes. they have been around in cleveland 110 years. only had eight ceos. show a great level of growth of eight to 10% for that entire period. liz: aren't growth companies take the cash, come in, report back to the business, report losses? >> not this instance. liz: that's what i'm asking. >> in this instance they're getting productivity gains. they are cost of capital is lower than hurdle rate. they're growing quite a bit. they have great end markets. they're in cars. if you ever see the business, razor blade business, welding rods they have if you're in the oil business, they're the welders that you use, welding

equipment, excuse me. company is always looking for new ways to improve productivity. liz: once the welding rod burns out you have to get another one. >> that's right. liz: i probably didn't use right terminology as far as burning out. banking issue we don't know when this ends. as you've seen from charlie's report we don't know what happens to first republic, and you look 2007 bear stearns needed to be rescued, it took another several months into 2008 before lehman imploded. you don't see that? are you trying to invest around it? how are you moving forward with your clients money in that case? >> in 2008, the banking industry is best positioned, best capitalized it has been in my lifetime. one thing you look at, this was not the cause of credit. this was an impact from liquidity. and i think that the fed stepping up, basically defacto saying we'll cover everything by giving you par for this securities that you're going to sell, that basically covers

everything at this point. now you're seeing companies coming in, other banks buying assets of these other companies. it is not a matter of credit. we're only 10 times levered as potatoesed 40 times in '08. these banks will be able to withstand this type of headwind. liz: we're getting gdp numbers up this week. fed's favorite inflation number, core, personal consumption expenditure, core pce. do you think inflation is heading southward? we're in deflationary mode and much safer to get into some momentum names out there? >> first you have to look at inflation. it is broken down into three areas. you end up with labor, that is the biggest thing right now. that is starting to slow. we know that we've seen housing starting to slow. if we look at zillow, look at goods inflation that has come down. we think we're on the back end. it will still be there, we're not getting back to 2%. we're thinking you want to be in some growth names. maybe not hyper-growth ones. you need to go back to '08,

prior to '08. that is the investment environment we before you will be in next 10 years. liz: gus, good to have you. dow is seeing erosion from certainly the highs of the session. up 183. s&p up four points. i will call that too close to call. [closing bell rings] after the numbers settle after the bell we don't know what will happen. nasdaq a clear loss, down 62. that will do it for us on "the claman countdown." i can't tell you how much i appreciate you tuning in every day. "kudlow" is next. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. first citizens has acquired silicon valley bank a couple weeks after the bank's collapse. the great edward lawrence live at the white house with all the latest. edward, what is the inside scoop on this one?