>>> and later, inside the rebound at gilead. is now the time to send your money on a french holiday? i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, steve grasso, and guy adami. >>> shares of nvidia surging nearly 4% early in the session, setting a new intraday record, and furthering its lead as the biggest company in the world, but then, the stock pulled back on the day, closed down 3.5%, shedding nearly $120 billion in market cap. that drop pushed it back to number two on the leaderboard. it wasn't exactly the only recent rally name to come under pressure today. oracle opened at a record, then fell over a percent, broadcom tuchbing its all-time high tuesday. netflix was at levels not seen since november 2021, both down today, too, and outside of tech, chipotle breaking its six-day winning streak, posting its biggest loss since last july. so, has the rally hit a wall or is it just taking a brief breather? i don't know, we -- we called it a pull-back in nvidia,

that's what you're seeing with gilead.hey have something in the pipeline, you're going to see those innovations to move forward. >> it is pretty amazing, though, i'm shocked it's not clogging the pipes up for the fda. because karen always talks about glps being the holy grail, and she's right. they're opening up neurological drugs, and john was talking about the heart and metabolic stuff. so, i think it's top down, but to guy's point, xbi, small cap bio tech is where you're going to see people gobble up companies people have been ignoring. >> it's interesting, xpi has had a little bit of weakness over the last couple days, if you could pick out the right names you can nail it. i just -- i think about this week and i think about lilly's announcement in alzheimer's too, and it kind of reenforces who the big dog is, and i think investors know that. >> >>> coming up, pricing pain is hitting the fast food train from chipotle to starbucks, customers are taking to social media to complain inside the latest trends and w eshothe co

gilead must replicate the results in another phase three trial before seeking fda approval. shares of the company rose about 7% today after the results were released. up next traffic lights giving you the red card how one european city is going all out for the european football championships. and here's a look inside rockefeller center. lester holt is getting ready for nightly news and one of the top stories today. a new warning about fake versions of popular weight loss drugs. what users should look out for nightly news is minutes away. a slow network is no network for business. that's why more choose comcast business. and now, we're introducing ultimate speed for business —our fastest plans yet. we're up to 12 times faster than verizon, at&t, and t-mobile. and existing customers could even get up to triple the speeds... at no additional cost. it's ultimate speed for ultimate business. don't miss out on our fastest speed plans yet! switch to comcast business and get started for $49.99 a month. plus, ask how to get up to an $800 prepaid card. call today! unique way. yeah. ta

the drug called treatment is been developed by gilead. —— called lenacapavir.the new findings of the clinical trials just released by gilead on the outstanding performance of lenacapavir could truly be a game changer in our ability to enable us to increase the tools we have on our menu to fight hiv/aids, especially for prevention, prevention in areas we are struggling with like the rates of new infections amongst adolescent girls and young women, amongst key populations, among men becoming difficult to reach, and amongst mobile populations. there is a vast spectrum of what we can do with this new medicine. interesting. we will come back to some of those points. but practically how ill this change how women currently get treatment? there are two things, two main things in the fight against hiv. the first is prevention of infection, so they remain hiv negative. but once people are infected, we try to test them and provide treatment. so lenacapavir provides that opportunity to enhance prevention where you can inject somebody for about six months, and you repeat th

gilead says it reached the $40 million settlement with the group. the fda has voted against a proposal to use mdma to treat post-traumatic stress disorder. now, a panel of fda advisers voted 10 to 1 against recommending the drug, which is also known as ecstasy. a bay area company said it studies had promising results. however, the fda panel said the data was flawed. it questioned whether researchers acted appropriately when conducting the study. advocates believe the drug could have been a game changer for people suffering from ptsd or existing psychiatric medications are meant to suppress symptoms. >> mdma and the psychedelics are meant to help emotionally process material. >> while the fda isn't required to follow the panel's advice, the vote could influence it. a final decision is expected later this summer. sifting through video, photos and interviews, trying to determine what caused an affordable housing unit to go up in flames. the investigation, now underway on the peninsula and a tragedy in alameda county. what we are learning about an 11 ye

the drug is called the lack of air and it is being developed by gilead.. john, the findings of this data had not been subject to peer review, but it is pretty promising. could this drug be a game changer? the promising. could this drug be a game changer?— promising. could this drug be a game changer? the new findings ofthe game changer? the new findings of the clinical _ game changer? the new findings of the clinical trials _ game changer? the new findings of the clinical trials just - of the clinical trials just released by gilead on the outstanding performance of lenacapavir could truly be a game changer in our ability to enable us to increase the tools we have on our menu to fight hiv/aids, especially for prevention, especially in areas where struggling with likely rates of new infections amongst adolescent girls and young women, amongst key populations, among those difficult to reach, and amongst mobile populations. there is a vast spectrum of what we can do with this new medicine. what we can do with this new medicine-— what we can do with this new m

>> gilead on its way to best stage of the year. the drug showed 100% efficacy preventing a virus in women. gilead one step closer to broadening its hiv division. s&p best performers to the worst, apple supplier jaybell sinking today. company beat earnings and revenue estimates in its latest report. the point, softness in automotive and transportation markets. that stock down 11.5%. >> pippa, thank you. >>> back to you in back to you in a few. >>> looking beyond nvidia for a.i. upside. that's is how ankur crawford is approaching it. she's here next with her best ideas. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> nasdaq you see there down by 1%. nvidia is pulling back from its earlier gains as well. the a.i. darling has led the trend of late, up nearly 200% over the last year. my next guest finding other ways to play the a.i. boom outside of the mag 7. joining me at post 9 is ankur crawford. welcome back t. i know you're looking at ways outside the mag 7, but you own the entire mag 7, correct? >> we do. >> are you nervous now or how are you feeling about th

now i think there are catalysts here and there and we talked about this even with gilead last week.this announcement with essentially an existing legacy drug that people are more or less pushing back on a company saying you have nothing other than hiv and hepatitis. the fact is you're getting the rest of the company for free. it's a long way of saying i think some of these companies you are buying them when they're expensive. i've been buying lilly in the last couple of nth mos and i didn't own it at 400 and i don't think the trends are going away. >> i think dan makes a good point with discounted cash flows are getting distance from the current stock price and i would be 100% in the boat with you, but i think ai and the sub sector has shown you around how sentiment stocks can continue to outperform and we'll see more of that. right now the fact that the stock has poppeded on this news of them increasing capacity speaks to the supply demand and how out of whack those are. yes, i do think you're pulling forward a ton of cam, but you still see that as a sustained winner a market where

sciences and paramount global, the nasdaq winners, quite a few there we have adobe, gilead sciences,. and netflix, $659 a share, the ten year treasury a very important number down four-point to 2% the price of gold not so important these days unless your gold bug up 25 bucks an ounce, 23 - 43 is the price, bitcoin 671, the price of oil 78.84, not gas now below $3.2.85. the average price for other of regular gasoline is 3.46 and diesel average price is 3.78, coming-out it is not too late to send in your friday feedback, tell us what your plans are for father's day this weekend, e-mail us at varney viewers@fox.com donald trump proposing to eliminate the income tax, an idea he's floating if he went in november, he plans to replace the revenue with tariffs, is this a serious proposal, hilary vaughn next hour. i have a lot of people who are waiting for home prices and rent to come down, is that a good strategy, housing expert mitch rochelle on what people should be doing right now in the real estate market, that is next. ♪ daughter: hey, dad. dad: hey, sweetheart. daughter: what are you d

on the news, gilead stock jumped about 3% this morning when that opening bell rang.l rang, some surprising news from the fda. it will now allow for companies to market their non-tobacco flavored e-cigarette products. the fda reports. after extensive scientific research, it determined that the menthol products provide some benefit to adults trying to quit tobacco and that they do not appeal to young people taking a live look at the numbers now, the dow jones was hanging on to a gain, but in the last few minutes it turned slightly negative. but we've had some good days so far this week. the s&p 500 down a little bit. the nasdaq posting a little bit of a gain right now. but as we know the s&p 500 crossed a very big mark 5500 for the first time ever. tiktok now confirms it once offered the us government the power to shut down its entire platform. tiktok is owned by a chinese company and has faced concerns about national security, the washington post reports. tiktok was willing to allow the federal government to pick its board of directors here, and have veto power over a

gilead popping 8 right now. and then -- 88%. and you could -- 8 percent. and look at the other leaders. just one semiconductor name, amd, it is roaring higher. we do have are it up about 4.7%. that's it, right? the only component there. but we've also got consulting giant act a venture in the number two position, up 7.5 percent. act censure may have missed on earnings, but it's second highest on the s&p thankss to a higher than expected revenue forecast. so there's that a.i. connection. then you ask what's going on with the nasdaq, it too touched a sizzling record stove and right now it's down 1544 points. -- 154 points. where is the name that piloted the overall market gains this year? yes, jensen wang of nvidia. nvidia did clock an intraday record or $140.76 earlier today, but now it has a dipped, it's now down 3% to $131 and change. the a.i. juggernaut maybe is falling a tiny bit victim to investors taking profits after nvidia grabbed the most valuable company in the world crown right off microsoft's head on tuesday. and, look, right now while the year

gilead says it reached the $40 million settlement to avoid the cost and distraction of litigation.oday, both tdf and taf containing medicines are approved by the fda. our recommended in the us department of health and human services hiv treatment guidelines and successfully helped treat and prevent hiv in millions of people. >> a first of its kind proposal to use the party drug mdma to treat ptsd is not moving forward. a panel of fda advisers voted 10 to 1 against recommending the drug for the treatment. the data was provided by bay area based lykos therapeutics, which claims to have found promising results. however, the fda panel said the data was flawed and questioned whether researchers acted appropriately when conducting the study. the decision is a major blow to advocates who believe it could have been a game changer for people who suffer from ptsd. >> our existing psychiatric medications are meant to suppress symptoms. mdma and the psychedelics are meant to help emotionally process material. >> while the fda isn't required to follow the panel's advice, this vote could influen

gilead sciences rose succee trial of its hiv prevention shot .oss for hollywood actor donald sutherland has died following a long illness. sutherland's son, actor kiefer sutherland, posted the news to social media. donald sutherland rose to fame in the late 1960s and early 70s, with film roles in the d dozen and mash. he n toav a prolific career that includedearly 15 film credits and ove tevision roles. sutherland was 88. from one hollywood legend to another, we're going to show you the special honor thacarolt flex alert! flex alert! a power outage is looming. thatalert, flex alert! flex alert! he'slways getting worked up a powabout something.ming. flex alerts notify us of preventable power outages. that way we always know when to help stop one. ok flex, just drop some knowledge on me again. oh, ok i will - i'll turn our thermostat to 78... i'll unplug the blender. the hair dryer. - my blankie? - yep! - let's talk about it! - nope. ooo, we can save the laundryl'! oh, yes please! oh! little things like this help save our power and help save us fro

really good news for sarepta, and we have follow-through from gilead.ve to wonder if that's going to help the overall sector, which has been flat this year. whether you want to go market cap weighted or leaning towards the small caps, both have not been performers at all so far this year. >> yeah, it's been a similar story to other areas of growth, which is we know what lilly can deliver. >> right. >> and novo. and there's no reason to necessarily look elsewhere for fresh ideas. sarepta has doubled since november, but it's doubled and halved so many times, i can't keep track over the years. it's been one of those names that epitomizes what biotech is. >> you mentioned lilly. it is positive today. it did have that sort of signs of a reversal, although the volume wasn't there to be completely concerning, but the price action happened in yesterday's session. i spoke to jared yesterday on "fast money" from mizuho, and i asked him whether he would like to put a dollar in lilly, and he said he thinks the pipeline is better for eli lilly. here we go. into the

gilead >> yeah. great. >> great company out to gilead. yeah. foster city. all right, low overcast.big warm up when you see this much fog. it can happen day as long as, you know. longest day of the year today. but a lot of 50s on the temps, except concord. everyone else says cloudy. and that's a low cloud deck. full moon friday morning. low overcast, a little mist drizzle out there. it'll be sunny earlier today as the fog burns off and then warmer for most, but i don't know the coast though. that's pretty cold over there. 6070s 80s i'll buy into a couple of 90s well inland. all right. allie's here. got busy, got better. now it's what? >> now it's nice and clear, especially in the south bay. we haven't had anything really pop up there all morning long. knock on wood, it stays that way. we keep mentioning that crash at the bottom of the screen that's actually not on the freeway, so it's not leading to any larger problems with any slowdowns. here's 280 and our triple a traffic camera showing us at live view of north and southbound past downtown. things moving smoothly there. highway fo

gilead says its twice yearly injection was 100% effective in preventing hiv infections in a late stagehe news adding to their dominance in the hiv market. we have american express card holders may find it easier to nab hard to get dinner renovations. dust reservations. they are known for catering to high-end restaurants including hot spots. you can follow all the latest buzz on your bloomberg terminal. let's get a check of these markets right now. just about one hour into the u.s. trading day if you look at the s&p 500 currently hanging out around 2/10 of a percent lower. we will finish this week higher it looks like. third straight week of gains. things could get funky around the close as we near that triple witching spree. for right now it's pretty quiet. even still you do have the vicks edging higher right now trading with a 13 handle. the vicks doesn't do much these days preyed volatility is pretty low. the bond market unchanged. pmi's at 9:45. beat across the board which was interesting that divergence between the u.s. and the rest of the world continues. taylor's record shatterin

. >> this is made by gilead. said that in a clinical trial of patients in south africa and uganda, not one person taking the drug was infected. if this drug pans out as hoped, what would that mean for global hiv care? we turn to one of the world's leading experts. the head of one of south africa's top research centers that helped run the study. so nice to have eval on the program. this drug is not yet approved for use in the marketplace. but let's say these results hold up. what would this mean? how potent of the tool with this be? >> great to be here with you. in my 40 years of aids research, i have never seen a result like this. absolutely amazing to see a drive like this that provides 100% protection. when you look at a drug like this, given that it is in a completely new class of antivirals, we do not have circulating resistance to this drug. so we are seeing higher levels of protection. it is not a drug that the virus has already been exposed to. its potential as a highly efficacious prevention mechanism is

gilead sciences is up this morning.wo other semiconductor names, microchip tech and on semiconductor. we will talk about that chip space in a bit. >>> we are looking at the bond market today. look at the benchmark. 4.23. falling a few basis points from the levels we saw yesterday. not a lot of movement in the bond market in recent days. >>> we are looking at oil. it is down a bit this morning. wti down .3%. despite the ia report showing the crude inventory with a bigger drawdown than expected. that is the money set up. let's get a look at the corporate stories with silvana henao. silvana, good morning. happy friday. >>> hey, frank. happy friday. cdk says car dealerships across the u.s. will likely be out of service for days. this is following a second major cyber attack reportedly telling its customers there is no estimated timeframe for resolution. thousands of car dealerships rely on cdk software to run the day-to-day operations. speaking on "last call" last night, tom maoli says the knock-off effects from the outage

recognize the reason trump is acting as a high demand for the pitch to turn the state of louisiana into gileadnald trump is co-opting the christian right and embracing christian nationalism because of its goal of transforming the united states of america into a theocracy fits into his agenda. he wants complete control and the euro again ability. he wants to own an weaponize the levers of power. he says that out loud in the christian right has been happy to ignore his many and well- documented moral failings because he promises to bring the power along with him. for that, for that promise from an unrepentant serial liar, they are prepared to worship at the feet of a full file. file. that helps treat and prevent, all in one. to those with migraine, i see you. for the acute treatment of migraine with or without aura and the preventive treatment of episodic migraine in adults. don't take if allergic to nurtec odt. allergic reactions can occur, even days after using. most common side effects were nausea, indigestion, and stomach pain. it's time we all shine. talk to a healthcare provider about nurt

. >> watching gilead this morning, huge pop in the stock. it's up by almost 5%.erim readout on data for a drug which is for hiv prevention. it showed 100% efficacy as a twice-yearly drug, and the stock is really getting some credit here for that surprise readout. the interim data. the full data is expected later on this year, but there's a real surge within health care in particular within biotech and pharma for names outside of glp-1s. we talk about a.i. is sucking all the oxygen. in health care, it is glp-1s and weight loss sucking all the oxygen out of the room. at this point, are you going to invest in lilly and novo? you have to, to some extent, but you want to look elsewhere. gilead has not been doing well. >> meantime, lilly is warning about fake compounds, big story on "good morning america" today just looking at issuing warnings to consumers. on a related note, we're starting to get some real chases in the value front in quick service restaurants. mcdonald's is going to launch this marketing blitz on june 25th in which they're going to highlight their $5

stuart: okay, gilead sciences.ate stage hiv drug trial had tremendous success in preventing hiv in women that they ended the trial early, stock's up just about 3%. stuart: big gain. mcdonalds. lauren: $5 value meal launches next week. june 25th, stock's up 2%. ubs sees sales at mcdonalds rebounding in the second half of this year and continuing into next. stuart: used to call that a loss leader. make a loss on the $5 meal. lauren: hope that is true. beverage companies hoped to monetize this and subsidize it. stuart: climate activists vandalized a plane and they thought it belonged to taylor swift and made a big mistake and full story for you coming up. the office is dropping the charges against some of the people that took over columbia's hamilton hall during the prohamas protests and they say there's no evidence of a crime. what? we'll take that on. vladamir putin going across asia and straightening ties with leaders in the area and forming a new world order. are we taking it seriously? rebekah koffler tells us ne

. >> gilead, breaking out. 13 times, healthy dividend. encouraging signs in the pipeline. >> black rock. 14 times, 14% earnings growth, 17% revenue growth and margin expense. >> thanks for watching. see you on "closing bell." "the exchange" is now. >>> and thank you, scott. welcome to "the exchange." i'm kelly evans. ahead this hour, nvidia is bouncing back after three down days, but our market guest says it doesn't matter from the market direction. why? my guest says we're heading higher no matter how the mag seven performs. he has three names to ride the next rally with. >>> and we'll tell you how this is an insurance play. and as the temperatures dip hotter, this stock is heating up, as well. up 25% in a month and probably not on your radar. we have the name and the potential upside from here. before all that, let's get over to dom chu with a mirror image of yesterday on the markets. >> it's kind of a ve reversal. for the blue chip dow industrials, which are underperforming after a nice string of outperformance versus the other indexes

. >>> on the plus side is gilead sciences.surging on a phase 3 trial that shows its hiv drug showed 100% efficacy in prevention and shares are up 8%. on the down side, trump media. the shares are down as much as 15% on news the, is sec approved shares which would provide the company with more funding. ahead we'll discuss on the moody's assessment on what happens to the economy on whethebin r deor trump gets elected, but first, a quick break. stay with us. we see you. athletes. investment bankers. doctors. business leaders. we see your ambition. your desire to succeed. which is why we are investing in your future. ...empowering the next generation to reach the c-suite and elevating women's golf. because you may not always see yourself in the world, but we see you. as an independent financial advisor, i stand by these promises. as a fiduciary, i promise to be the financial steward that you and your family need. i promise to put your long-term financial well-being above any short term transaction. everyone has a big picture. my j

liz: that was gold, gld, not gilead. michael, thank you very much. here we go, the closing bell, records for the s&p and nasdaq. apple, microsoft broadcom. [closing bell rings] nice moves today. kudlow is next. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. so president trump in detroit this weekend rallying black voters with his prosperity agenda. that after successfully pitching the country's top ceos in washington, d.c. dr. ben carson, jerone smith in a few moments. our intrepid edward lawrence with all the details. edward's what's's cooking. >> reporter: very different scene for president joe biden over the weekend a lot of celebrities trying too get president biden reelected to office. george clooney, julia roberts, barbra streisand. these people are not affected by inflation rest of us are feeling. in the campaign event they raked in $30 million the campaign used for ads. inside president joe biden highlighted liberal causes and went after the u.s. supreme court. president biden: look the supreme court has never been out of kilt

gilead not a great day today, because you open on the highs, closed on the lows, but i still think there'sthe move in sarepta. there are other names that still make sense >> not a valuation metric you use much in big pharma, but price to sales, you know, lilly's trading nearly 20 times price to sales trading 16 times to guy's point about merck that just made a new all-time high, it trades about five or six times sales. so, when you think about, like, it is kind of similar to nvidia in a way, because investors are getting in front of all the good news that may come for the future so that's what, to me, i think these stories are very similar >> an example of large cap value, right >> well, it's not as cheap as other parts of the value spectrum but it is an example of dividend growth, which i think makes a lot of sense i worry about health care as a sector, though, because it's gotten very crowded. generalists are now buying health care stocks for growth and defensive protection meanwhile, we're heading into an election, and i know there is not as much controversy, but i worry that, you know

so it's really gilead relevant for the region. and she's going to be the representative representative of mexico in this very important by national relationship with the union now it's state the issue of immigration trade, drug trafficking so in the white house is going to be looking very closely to see if she continues with the policies of lopez obrador. if she's going to change and this is what many of the borders told they said they recognize the influence of lopez obrador, but they would like to see him fade away and let cloudier same be her own person. bring her own ideas and lead the country in the way she feels with that the pressure of somebody behind the scenes all right. >> gustavo valdez valdes, joining us to live from mexico city. these results are just coming in. of course, we just heard claudia sheinbaum has one mexico's elections are first female president of their country, joining us now from mexico city is a lila abed. she is the acting director of the wilson center's mexico institute. appreciate you being with us

liz: that was gold, gld, not gilead. michael, thank you very much.ell rings] nice moves today. kudlow is next. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow.

and organizations like kaiser permanente, gilead sciences, the makers of truvada and prep. see san francisco, who's providing sf pride's medical services for the celebration and parade. they're really coming together and ensuring that they uplift our people, making sure that our 225 plus parade contingents are safe. our 50,000 marchers on market street are healthy, and our million spectators on market street and civic center have wellness as well. so the parade. >> sunday, 10:30 a.m. billy porter, the grand marshal of the parade. that's going to be pretty cool. and, you know, billy porter's got that great personality. so tell us a bit about if you had a chance to talk to him about the parade and getting there and so forth. oh, sure. >> we've definitely been in touch with billy porter and his team, and we are just so excited to have signed him on as the 2024 celebrity grand marshal. and our main stage headliner. also, because he's such an icon of stage and of screen, we have our annual city hall party, which is essentially a queer takeover of city hall occurring on sunday af

. >> that was gilead but he was described as one thing i was terrifying. there's one thing i wanted to talk about and i don't want to jam the segment because there's other stuff i want to get to, but what's fascinating about this audio of sam alito is in charlie, you know this from these confirmation hearings that make headlines up on capitol in the senate when supreme court justices go through that process there, so choreograph there, so scripted they're told what to say, what not to say, and they're very careful and answering all these questions here is just like a few minutes of audio. got probably more candor from justice alito that we got during the confirmation process. yeah. i was just shocked by how unguarded he was. yeah again, these you're right. >> you've watched these confirmation hearings and they are so scripted, they are so careful not to say anything that might impact how they would have to rule on some matter before them in this case? >> you just do that all away he thought he was just talking to a friendly audience here and was surprised

>>> and gilead announcing its twice yearly shot to prevent hiv.mplete successfully to seek full fda approval for hiv infection. data expected later this year or early next. lanacapivire approved to treat some cases of hiv under brand nay sunlanka, but the new study focuseses on its potential as a preventative measure. >>> coming up, the ceos of crypto exchange. ceo. just one. talking about the fight with the s.e.c. industry regulation. also crypto support in washington. stay tuned you're tcngwahi "squawk box" on cnbc. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ things will go wrong for your customers. but your business can make it right, with watsonx assistant. ai that can help resolve problems by understanding your customer requests with 90 percent accuracy. let's create customer service in service of customers, with watsonx assistant. ibm. let's create. ♪ i wanna hold you forever ♪ hey little bear bear. ♪ ♪ ♪ i'm gonna love you forever ♪ ♪ ♪ c'mon, bear. ♪ ♪ ♪ you don't...you don't have to worry... ♪ ♪ be by your side... i'll be there... ♪ ♪ with my arms wrapped around...