what i want are calls that recommend ge and ge vernova. we better start getting those. completed the file split. joining us now in the cnbc exclusive ge aerospace chairman and ceo larry culp and ge vernova ceo scott strazik. let's talk about what the businesses are. larry, i'll give it to you first. where was this business four years ago, and where is it now? >> well, if you look at ge as a whole, jim, four years ago, five years ago, prepandemic, we had a mountain of debt that was holding us back, and we were really in need of an operational turnaround. i think that's what you see today with the launch of an independent ge aerospace and ge vernova. on the other side of $100 billion in debt reduction. set these two businesses up as we did ge healthcare on a strong financial basis. what we've done operationally is not only more than quadrupled our free cash flows, but driven $190 million of market capex pangs that we've seen since the dark days of 2018. >> we have to congratulate you. american business's finest hour. scott, you've got nuclear, hydro, steam power with gas.

seema, ge vernova, what is behind this move?is year is out with a new acquisition woodward's heavy duty gas turbine business, a deal expected to close in 2025 and does provide aftermarket services for natural gas turbines where ge vernova makes 40% of its revenue, strong growth business, while wynn plays catch-up. the ceo telling me that he's partnering with hyper scalers to provide equipment and access to energy sources to fuel their data center ambitions. recently revealing a deal with amazon's aws. one of the reasons the stock has outperformed it's seen as one of the ai beneficiaries and the stock up another 4% today, mike. >> it is fascinating, seema, given that the business mix of ge vernova and harnessing the ai driven trend has almost liberated it from being kind of, i guess, cast as an alternative or green energy type play which the market is not as fond of. >> you're right. since the spinoff from ge, ge vernova has been smart about positioning itself as one of the players within ai that can help the hyper scalers figure

why one top analyst is betting on ge vernova.re watching "fast money" live from the nasdaq market site in times square. we're back after this. in 7 days, to imt with significant improvement over time. ( ♪♪ ) *doorbell ring* trick or treat. happy halloween! *zombie grunt* *dog bark* *woman screams* *children screaming* happy halloween. aww, happy halloween. clem's not a morning person. or a...people person. but he is an "i can solve this in 4 different ways" person. you need clem. clem needs benefits. work with principal so we can help you with a plan that's right for him. let our expertise round out yours. >>> welcome back to "fast money." tesla showing some sparks of life, surging nearly 10% this week and far outpacing the rest of the mag 7 stocks. the stock is up 21% in september, the best since june of last year and gains come ahead of q3 delivery numbers nextthe highly anticipated robotaxi deal coming a week later. infamous or famous holly index, you drive one, what are your thoughts on the stock's move here? >> well, she dri

what is ge vernova, and how do you think it will kind of see its different lines of business benefit?wer business, so you saw, you know, it's really broken up into three different pieces, so you have ge power, which is largely the turbines, so these are nat gas turbines to make electricity. that's what makes up 40% of our power today. electrification division, which is largely the switch gear that you might see at a substation, for example, and then they have the wind business, which gets a lot of attention. it's the -- a much smaller component, and quite frankly, the least profitable of the businesses. >> okay, that explains it, because i think of them as kind of the green energy play, and i think, well, wait a minute, you're talking about a trump administration and a nat gas and you're telling me vernova will benefit, but if wind is such a small part of -- is wind going to remain part of the portfolio at this rate? >> listen, we would love to see them divest a bit or wind that down. i know that's probably not a popular statement to many, but we don't see that as, you know, as a driv

the ge vernova ceo is with us right now. yesterday was a tour de force. when i first met you i thought that this thing was, are you kidding me? i felt so bad for you. >> come on. >> no, i felt bad for you because i was worried about the balance sheet, i didn't know about the cash flow you could generate. i knew that this division was poorly run. i want you to take people on the journey because the journey is short but the win is big. >> no question. i mean, in the last nine months we've really shifted from areas where we talk about market opportunity to market reality. i mean, its reality is the world needs electricity right now and very well positioned to serve this market. we see it every day in both our grid and our gas businesses, with substantial increase in demand at the exact same time we're running the businesses better. you see that in the margin expansion in all three of our business segments, we're starting to generate a lot of cash. >> talk about that. there was this -- you generated $4 billion in cash in the first nine months as a public comp

the best one is ge vernova. the stock is up so much. you can assume it is something to offer for every utility and hyperscaler. i know we're all falling in love with nuclear power. i get that. one day it will be important again. maybe the next decade. right now though, if we want more electricity, we're going to need it from natural gas, wind and solar. ge vernova has natural gas turbines, windmills, and the best possibility of nuclear. although the company will tell you don't get your hopes up for nukes any time soon because it takes too long to build these plants. i like the fact they're upfront about it. the that's terrific. and finally, cintas, i love these guys. they supply fire safety equipment, some other stuff. do you know why i love this one so much? it caters to small business. neither the democrats nor republicans can resist talking about how small businesses are the backbone of the american economy. you hang around politicians enough, you can't believe how many times they talk about this issue. nobody ever lost an election t

one head-wind has been its wind business, but ge vernova split.a conversation about spinoffs, to get expo sure to the company leaving. >> it is remarkable. the focus and idea that these were under appreciated assets. also, these are long-lived order flows. if you think the gas turbine business is picking up, that's a year's worth of business. >> and they have gas power. they have small nuclear reactors that are being used, similar to what larry ellison said last week, coinciding with growth. part of the broader ai trade. >> right place and right time. thank you. >>> we have a news alert on steve cohen. he's going to stop trading .72 but remain a cochief investment officer at the firm. that's according to a report. we'll bring you more details as we have them. peter, weigh in here. not on steve cohen. the mets are probably going to be in the playoffs. he needs to focus on that at this point. we have a fed decision coming tomorrow. we have a little bit of suspense around it. how do you think it's going to go? what do you think it's going to mean? >>

. >> meantime, ge vernova and ge tacking on another percent here. >> ge vernova is very strange.of the day and closed down two bucks in the last half hour. we have no information for why that did. i was very careful to say, be very -- this is, again, the problem with these, they're unseasoned stocks. a stock can drop four points in a few minutes. it's something you have to be careful about, even though i think the numbers are going to be excellent for ge vernova. >> we're getting numbers from ford. let's get to phil lebeau. >> hey, carl. for the first quarter, ford sales, up 6.8% here in the united states. let's go within the numbers to look at some of the key segments that people are focused on. we're going to start with ev sales rising 86%. you could sit there and say, it's cominf a lower number base from last year, 86% is not that impressive. you look at the sales within that, mustang mach-e, now the third best selling vehicle in this country. huge quarter in terms of when they knocked down the prices. that boosted sales there. ford is now number three among automakers in the

ge vernova. shares are trading today. the company is ge aerospace.hares have been trading higher of the spinoff. >>> 3m spins off healthcare unit. it is whip sawing on the first day of trading. the spinoffs are a good opportunity for investors. jim is here with us to discuss the buybacks and stock offering. jim, good morning. >> good morning. >> we are doing a conversation about spinoffs. let's go back to the first one. vernova. the tracking shares here. is that a good opportunity to buy? you say these are sometimes a good opportunity and sometimes they are not. >> it is a great question. you have to look where you come f from, frank. the premise of ge was on the knees when larry culp took over. he transformed ge. he joined in 2018. later in 2021, he was looking to break the company into three parts. he started off by spinning off gehc. the health care part. this is the final piece of the puzzle where he spins off vernova. the power lines and electrification arm of the business. you have the three pieces. the ones ce giant is now in thr. they will ge

ge vernova up 3% we are getting a sense of the stocks moving on the fed decision in the pre-market ahip name at the top of the list a bunch of chip names dominating the board. asml up 4% broadcom and arm and advanced and tesla up 3%. we want to take a look at the bond market. benchmark at 3.69. ticking up a few points after the fed decision here is one we want to watch the 30-year now back above 4% at 4.01 the cut seen by some as inflationary we'll talk about bonds and other moves later in the show. we want to look at oil wti is back above $70 a barrel a key sentiment level for west texas intermediate a bigger move to the upside for brent crude almost at $75 a barrel that is a key sentiment level for brent crude. and cryptocurrency bitcoin is moving 3% higher this morning. even bigger more for ether up 2% ripple up 1% as well >>> that is the morning set up we will get to other parts of the market wall street is looking to rally. let's see how things are shaping up with silvia amaro in london and with jp ong with the asia trade. silvia >> good morning, frank european investors are rea

ge vernova is going to be part of that. it's a pin-off from ge.mpanies can focus on their core business, so ge can focus on ge innovation, ge vernov a can focus on power and wind. >> thank you. great to see you as always. futures in the red across the board. that's going to do it for us here on "worldwide exchange." "squawk box" starts right now. >>> good morning. we're going to show you what's happening now. american airlines cuts its outlook. and an album so rare only one cd copy exists. it's about to be played in a museum exhibition in australia. it is wednesday, may 29th, 2024, and "squawk box" begins right now. ♪ a. >>> good morning, everybody, and welcome to "squawk box" right here on cnbc. we're live from the nasdaq market site in times square. i'm beck request quick along with andrew ross sorkin. joe is off today. as an true mentioned yesterday, we did see the nasdaq setting a new high. it closed above 17,000 for the first time, but this morning you see a pullback across the board. the nasdaq with a triple-digit loss, about 105. the dow is

. >> yeah, you're all over ge vernova today and nantucket and wind. >> they got the hearing tonight,nd they've got unbelievable -- the side that understands some of the issues with windal has an incredible series of pictures. my friend amy will be talking about that. carmine was the former ceo of ey. i've seen her pictures and what she has to say, and it does not reflect well on the bonding of the windmills, but i would say, also, that offshore wind is not why you buy that stock. offshore wind will go away. windmill is going to be positive next year. i like the ge vernova, but windmills that break up on a beach that's a nice beach -- >> doesn't go over well in these beach towns. >> no. no. david, you ever walk on one of those beaches that has windmill shards? wear -- maybe get a couple deckers. wear some crocs. >> that's not a good thing. i didn't know that was occurring. >> oh my. i'll show you the pictures during the break. >> i'll add it to my series of concerns when i walk the beach. a windmill that -- what is it from? they break off and get into the water? >> no, they go to the

for ge vernova, are protection of long-term breakthroughs and what we have developed over the last fivel and a gift, frankly, that very has given us. we are still in the early innings of that, and i have to expect there is real opportunity for the other two businesses. sonali: that was larry culp, ge ceo, with wall street david westin. tune in to wall street week tonight at 6:00 p.m. new york time. this is bloomberg. ♪ sonali: now, bitcoin hit $70,000 for the first time ever earlier this hour, and at the same time, investors are putting a record amount of cash into black rocks bit rowing -- bitcoin etf. it has now swelled to over $11.5 billion in assets. joining with us for more is emily ref ao. you see how blackrock has been beating the pack. how much love are you getting for the industry? emily: it is unprecedented, to see this much money pour into new etf's. we have never seen 10 funds launch at all the same time with an identical strategy, and it has not even been three months. we are already seeing $9.4 billion of net inflows into the space, despite the $10 billion that have been p

one of the key players, ge vernova.hope to produce the sort of power that can put ai in action. here to talk about it, ceo scott strazik. on the back of an investor event, outlining the demand you will be seeing from ai. can you put that into context how much will be increasing? >> ai is one of many factors striving for the first time in 25 years for single load growth. it is ai, electrification of transportation, homes, also u.s. manufacturing are playing roles leading to a substantial increase in load growth right now. we are seeing a number of businesses. we are seeing substantial increase and orders for gas power right now, a grid infrastructure equipment, working with hyper scalars going back to that question on how we decarbonize this increased load growth that is clearly coming this decade. caroline: to decarbonize, is that about nuclear? >> it is going to be a little of the above. he will be a lot of decarbonization of gas the next decade with hydrogen, carbon capture. as an example, we have a plant right now th

we have ge vernova which is strong to build from tailwinds with improved profitability. >>> oppenheimerour to perform. positive change will take time >>> a flurry of price targets on the stock story of nvidia. goldman sachs moving to $1,200 a share and bank of america going to $1,320. >>> it is time for the global briefing we start with the story we are following on "worldwide exchange." anglo american rejects the latest bhp bid both companies are leaving the door off for a new deal. the recent bid includes demands to unbundle iron/ore assets in south africa which is too risky and complex. >>> lenovo taking back the gains despite another quarter of better than expected profit. revenue growing after it dropped for five straight quarters the largest pc maker is exploring opportunities in the a.i. world. >>> and south korea betting big on chips with the $19 billion chip package south korea is building a mega chip cluster which it calls the world's largest high-tech chip making complex. >>> coming up on "worldwide exchange," the one word every investor needs to know today and the one warnin

. >> ge vernova. 154 is the price. it's at 130. you bought more. week. >> it's been a crazy stock. it came out of the chute and fell 14%. now it's down six. i'm taking advantage of spins. i like wind power very much. a 3% install base. services to the overall mix. i like this is the a 11 times ebitda. >> price target to 50 from 44 for ge. >> they think that gm is going to raise guidance next week. i think that's a reasonable conclusion. it's reasonable on car buying volumes, where prices are, what they're doing with cost control. this is not usually what you will hear me say, what is the share count? they did an accelerated buyback between 20 and 25%. some people say it's financial engineering. that's what i'm looking for when the report comes out. >>> we'll ta ake quick break. mike santoli on the other side with his "midday word." >>> do we have the structure in place? >> we vn seen chinese evs in the u.s. should they be allowed to sell their evs in the united states? >> we don't have rules against it. >> consumers are spending, the real impact on

barclays with an overweight weighting on ge vernova.. >>> coming up on "worldwide exchange," one word every investor needs to know today and the boeing strike entering the fourth day. our next guest says this is strengthening the sell on this bearish stock. more "worldwide exchange" coming up after the break. (♪♪) “the darkness of bipolar depression made me feel like life was moving on without me. then i found a chance to let in the lyte.” discover caplyta. unlike some medicines that only treat bipolar i, caplyta is proven to deliver significant symptom relief from both bipolar i & ii depression. and in clinical trials, movement disorders and weight gain were not common. caplyta can cause serious side effects. call your doctor about sudden mood changes, behaviors, or suicidal thoughts right away. anti-depressants may increase these risks in young adults. elderly dementia patients have increased risk of death or stroke. caplyta is not approved for dementia-related psychosis. report fever, confusion, or stiff muscles, which may be life th

raymond james lowering g ge vernova. >>> also a pack of big tech targets.citing expectations of another quarter and moving alphabet to 190 saying attention will return to fundamentals. >>> time now for your global briefing. saudi arabia's minister is warning prices could fall as low as 50 dollar a barrel if members don't stick to the production quota. they're being interpreted as a veiled threat from the kingdom that could launch a price war. opec leaders are holding a virtual meeting today. >>> hong kong stocks are holding a rally over china's latest stimulus measures. the hang seng jumping more than 6% while they're surging more than 8.5%. markets are closed until monday for the golden week holiday. >>> and shares of equipment maker asmpt rising. kkr is considering taking the company private. it's valued at roughly $5 billion. the company headquartered in singapore has a presence in over 30 countries. >>> coming up on "worldwide exchange," we have the one word every investor needs to know, and our next guest says why investors are ignoring what he calls t

. >> let's move on to ge vernova. a new energy company spun off from general electric.ot its first upgrade from overweight to neutral. jpmorgan the source there shares up about 6% today. your trade on this one. >> for me it's a hold. i see some potential here. they do face a lot of headwinds especially in their win division, not to make a horrible pun on wind. their offsharehore wind has bee huge problem. they need it to actually make money. they're starting to limit the loss, they're maybe profitable in '25. there's a lot of otential. like almost every ge spinoff, they're going to increase productivity. some of that they have to execute. we'd like to see how this company performs. the power unit, 50% of it, looks like it's going to continue to generate solid free cash flow. it's the wind sector on shore and off that we have questions about. for me it's a hold. >> gold hitting an all-time high sitting below 2,400. is it vulnerable to a setback now? what's your trade? >> i mean, for me i like at this like the 1979 runup. gold moved up almost 170% in 1979 alone. it has th

in the cloud one more from bmo capital and ge vernova with the $245 price target it is one to capitalizeime for the global briefing elon musk blasting the australian government after new laws on social media companies if they fail to comply with the rules on disinformation on the pla platforms. musk posting the word fascists on xand that is drawing rebuke saying elon musk is a champion of free speech when it applies to him and dsv is buying schenker for $15.9 billion that will make dsv the biggest freight company. and vodafone could push up bills for customers by reducing the number of networks from four to three. the cma says the deal could improve the network. the regulator will make the decision on the merger in december >>> coming up on "worldwide exchange," we have the one word ever investor needs to know today and former president trump set to further his ties to the crypto community we'll be back right after this break. ga, the advanced form of dry age-related macular degeneration, can irreversibly damage your vision. it can progress faster than you think. when ga threatens your e

we see vistra and ge vernova. we see the declines here.algreens down and builders source down 34%. today is really all about may pce inflation. that report due out at 8:30 a.m. eastern time. you see the benchmark at 4.30. rising seven basis points from its low a week ago. continuing to see the move as we creep into the pce report. we continue to watch bond yields. oil is about to close out the first winning month in four. the u.s. benchmark up ov ovover ..75%. brent crude there as well. that is the morning money set up. let's see how we europe is shaping up the first quarter with arabile. >> it has been. that has come up late in the cycle, in fact. you are seeing quite a bit of gl green in the day as 's trading. the cac 40 is showing nervousness. having to note on the back of nike's numbers yesterday and pointing to weaker guidance. you are getting the retailers with puma and adidas and jd sports here in the uk measuring to weakness as well in the early morning trade. that has certainly impacted things. the rest of the market seems to be i

morning star, ge vernova. decarbonization.rgy company says its recent wind turbine blade incidents are not related and that it is continuing to investigate. shares are up 5%. netflix closing above $700 a share for the first time ever. research boosted the target for the streaming stock to a new street high. of $900. they went up 1.3% higher. mike, what do you think? >> netflix is one of the place that still represents growth at a reasonable price. they are winning the streaming wars, growing the top line, offer a product that everyone wants, needs, uses, they don't charge a lot for it. they have some room to even increase the prices i think in the future. if you are going to play in the streaming space and everybody is using it, netflix is still the place to be. >> bio solutions secured fda approval. and danish pharm accompany got its shot approved in 2019. the stock, which has a market cap of $440 million. it is up premarket. then, a big reversal. closing down 7%. let's get more now. good to see you. >> you, too. thank you fo

carbon-free. >> and ge vernova would admit that.ey're onshore wind, not offshore. you're totally right about solar, david. sometimes it is not sunny outside of philadelphia where the plant is. >> guys, a quick one for me on the risk r up front. there's been a lot of opposition to the verizon deal to acquire frontier, shareholder vote is on the 13th. what i can tell you, according to people familiar with verizon's thinking, is there is no way they're raising their bid. they're going into the vote. they fully expect they're going to get it. iss, the influential proxy advisory firm, came out and said, abstain. there was a large shareholder who was voting against. all that said, the stock you want to look at here is fybr. frontier. remember that deal getting them deeper into fiber. you can see it is down a bit there. not going to raise is everything i'm hearing. they will go into this vote fully expecting they will prevail, and that probably will be the case here. by the way, the cover bid in their deal, which was bell canada, actually

. >> by the way, morgan stanley does initiate ge vernova to equal weight, although jim, the name is stillse to some all-time highs >> i like that stock too much to make it equal weight morgan stanley, james gorman is now officially giving his exit date >> end of the year, leaving as chair? >> now, the thing's been going up ever since pitt got it and the last quarter from james was not good i'm not going to put it in -- it wasn't as good as i thought. i'm going to put it in the not good category. that stock has been straight up ever since the ted pick quarter. but it's also underperforming solomon, certainly underperforming scharf the 3m, they are -- some of that was they had to sell off the health care because they needed the money because of the forever chemical problems. but dupont's going to $100, and it's having this pit stop of idiocy >> pit stop of idiocy. that's your next book. >> yeah. the pit stop of idiocy yeah pit stop of idiocy why not? i like that. >> jim, adding to the nvidia story is tsm, calling for 10% industry sales growth. that's an all-time high. >> tsm is a good examp

. >> since ge vernova spun out of ge a week ago, we've seen the stock fall by around 8%.t may be due to existing shareholders saying i want more exposure to aerospace versus the energy story. either way jpmorgan this morning saying this is a buying opportunity, upfragrading the sk to overweight with a price target of $141 referencing the strength in vernova's electrification business. they say this business can outperform as data center electricity demand increases. there's just more demand, scott, for these companies that operate in managing the grid as power scarcity becomes an issue. so that seems to be what's driving this upgrade, and you're seeing shares up about 6 pr%. the next big driver for the stock, analysts are saying is going to be earnings. >> we'll look forward to, that thank you very much. to kate rooney with coinbase. we shouldn't be surprise first-degree coinbase is rallying if bitcoin is. >> as goes bitcoin, so goes coinbase and the rest of those crypto stocks. for bitcoin, the rally started over the weekend. it picked up some steam during early trading

and anyway, larry culp there anyway let me just through in ge vernova which is on fire doing a fantastic-fer? ge health care all three are good three ges. that's happy halloween let's go to matt in washington >> caller: boo-yah, jim. >> booo-ya same riot back at you what's up? >> caller: i recently retired after 30 years with the best medical device company in the world, stryker >> they're really good you're right striker's a really good company. i have been recommending stryker a very long time it's just one of those companies you want to own it i have to say this and forget about it because that's how good it is. congratulations on a long career there. let's go to jay in nevada, please, jay. >> caller: boo-yah, jim bo >> what's up >> caller: first time, long time, club member, blah, blah, blah i was looking for some mid-cap exposure and this company with a large position in several etfs i looked at. what are your thoughts on lanceius holdings? >> it's a great place to be. particularly with all the things being done with ai i'm going to throw in another. medtronic. i like jeff. he think

replacing motive care on april 1st, that's the first spin-off, and there is a ge health care spin-off, ge vernovaplacing dense fly cerona that's going to be moved to the s&p mid cap 400 effective april 2nd, but two major health care spinoffs joining the s&p, mel. back over to you >> kate, thank you >>> meantime, trump media continuing to climb. the stock up 14% today and is up 80% just this week now the company is worth just shy of $9.5 billion, that's bigger than the likes of cesar's, u.s. steel, and even reddit but the company only reported $3.4 million in the first nine months of last year, and that's a small fraction of similarly valued names um -- it can go up for a lot longer than what makes sense, that's for sure. >> yes, absolutely to the extent that this is just a vehicle to support donald trump. couple of things i wonder, though are we going to see a 10k with thatfourth quarter they do have potentially an earnings release, or i'm wondering, is there any chance that trump himself feels the need to get on the call? i don't know i mean -- it wouldn't be the most shocking thing in the world

. >> but those are really according to ge vernova, you're talking about a ten-year period between nowit up? >> not right now. we're continuing to look at the various technologies. but that's where natural gas will certainly play a bridge role in this. we'll look at renewables and storage as well. but for now with the load that we have coming onto our system it's really going to be a case where we need some spending iron to serve this load. >> we've been dealing with some of these hyperscalers as we call them, the googles of the world, and they seemed to be so hungry for power they're only going to make direct deals with the actual facility. have they come to you and said we want a nuclear plant and we want to make a deal with that plant or does it still have to go through you to get the deals? >> we've been working with all of our large customers like the major data center providers, and really what we want to do is serve the customer. if they're coming onto our system and they have different ideas on how they want to have that load served and what kind of approach they want to take w

there's that ge vernova, the spinoff from ge aerospace. everything trades independently.joined there by at the bottom palo alto and first solar. we're back in two. when it comes to investing, we live in uncertain times. some assets can evaporate at the click of a button. others can deflate with a single policy change. savvy investors know that gold has stood the test of time as a reliable real asset. so how do you invest in gold? sandstorm gold royalties is a publicly traded company offering a diversified portfolio of mining royalties in one simple investment. learn more about a brighter way to invest in gold at sandstormgold.com. ♪ upbeat music ♪ upbeat music you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> cnbc and the nrf out with data on the consumer. steve liesman has the exclusive results. >> good morning, david. consumers continue moderately strong spending in march, spending

another one on reddit as bofa initiates neutral, goldman initiates ge vernova i think with a buy. draftkings, goldman again with a buy. certainly talking to the coach this morning about women's sports and rights and the interest that that naturally feeds into betting, for example. >> draftkings up a couple percent on that. i feel like there's just this general sense out there of maybe we've reached a point with sports betting whether it's so competitive or we've had such this buildout and you have all the wave of legalizations that maybe it's going to sort of plateau a little bit, hasn't really been the case. draftkings continues to get its share. it still remains to be seen if this is going to be an attractively profitable business long term. they're making it up on volume at this point. as long as the sort of overall total value bet numbers keep going up, it seems like the story remains intact. >> i do want to mention shares of live nation this morning as well, a new story out yesterday from the journal saying that antitrust authorities at least may be moving towards an action a

larry kulpa is being conservative this morning we have some amazing numbers from ge vernova. >> let's take a look at vernova. wind doesn't do particularly well but power and electricity certainly do. >> orders surge. >> sorry, say again? >> orders surge is rather remarkable with the stock down anyway. >> this obviously was a spin from gr aerospace. when you put the value that's been created from gev, take a look at what that stock has done, and ge aerospace or aviation, you're getting back to a stock price that is not bad in terms of the long-term old ge stock which hit lows of, what, i mean, in '08 - >> i'm sorry, '09, march of '09, we're like 3 bucks, 4 bucks. >> i can tell you are my stock issues got profitable last week. >> you still have actual -- i got -- we got options that are -- >> you went for options. you should have gone for the rsus i'll talk to you later about that. >> i had no choice it were options given to employees -- >> who negotiated your contract? >> i don't know. >> almost all expired. worthless. management, however, did get repriced right at the lows not us i'll

. >> the first one is ge vernova, because these plants are largely natural gas .s one of the great horses of the year. $237, the stock was a hundred points lower not that long ago. they are perceived as the company that can build you a natural gas plant because we can't do solar. we just don't have enough. that is almost a pure play on the datacenter. vertiv, one of the first spacs, successful. also don't forget company that my travel trust owns, eton. they're very big in the datacenter. and then trane technology, tt, because they're trying to cool off the datacenter f.. if you look at their stocks, we are not early in choosing those stocks. >> that's a couple references for trane this hour alone. as we go to break, watch bonds today. we got starts out of the way. fed decision, of course, we'll get a treasury buyback announcement at 11:00. and we'll be paying attention to that presser at 2:30. for now, ten-year, about 3.68%. stay with us. i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo loo

one of the beneficiaries not mentioned in this chat but getting more attention on wall street is ge vernovam general electric in april specializes in smart grids. back to nvidia, you mentioned that media tour. jensen huang has been public in the last couple weeks since the company reported disappointing earnings on august 28th speaking at goldman's communicopia and dreamforce and d.c., it has coincided with a strong rebound in nvidia shares up about 12% since early september. the broader semiconductor etf up about 10% since this month and that china stimulus helping the sector. they've got the exposure, sara. >> faels like he's taking his place as the industry leader as the king of a still ahead this hour, gold prices hitting record after record. the ceo of wheaton precious metals will join us to break down whether that rally can 'lben on mer hel o"meyovs" at 11:00. stay with us. (man) look at this silly little sailboat... these men of means with their silver spoons, eating up the financial favors of the 1%. what would become of them when they discover robinhood gold allows others to earn t

energy costs speaking to ge vernova, the amount of cost of energy for the first time in years is reallyoing much, much higher. they're going to have to -- all these companies are going to have to compromise and start using natural gas. they can't just rely on wind and solar. >> it's one thing when alphabet or microsoft or amazon, even, their capex, particularly when it comes to the spending they're doing as hyperscalers in the datacenter, because that's just money they're putting in that they immediately charge customers who are using it this is different. this is new products that conceivably are going to be based, by the way, on the incredible amount of data that this company has that is -- makes it unique in terms of the personal data it has to -- but everybody can come up with their own guess. is it going to be an a.i. agent that helps you create content? >> it's going to be search dynamite search. >> what is it going to be that ultimately they have >> it's going to be exciting >> somehow, it's going to be merged with reality labs where they've already spent, what have they spent ov

so, what i think they should do is talk to ge vernova and realize that it's not going away any time soon replace -- you can't just make solar be the power. sometimes it's not sunny out. that's why you need a backup engine, perhaps from caterpillar. >> and sometimes it's not windy as well. but you know, nuclear still does take a long time to build, even the smaller reactors. it's not like they happen overnight. >> no. and a lot of people are just talking about reopening, recertifying old nuclear power plants, which i'm sure you'd be willing to live next to. >> jim, is there a particular sector that you and/or you think investors should be focused on, given the declining rate environment we now find ourselves in? >> well, look, i mean, you're not supposed to outthink it. you're supposed to buy first, buy toll brothers, buy lennar if they're going to report, buy dr h horton, and then go to the appliances. we own stanley black & decker. you can go by lumber. these are all the musts, the must-buys, and if you wanted something a little further afield, if we're going to develop a lot of new hou

i know that ge vernova, which is a sensational company, is talking -- saying, jim, you got to be a littlebullish about nuclear. i still don't hear anything happening before 2030. >> it takes time, right? we're in the process of working with x energy to put a construction plant with the nrc for a plant down in texas. i think by the end of this year, beginning of next year, we'll have the construction plan in. you've got to get that permitted and then built. so, we're hopeful to get it up and running by 2030. but this is a big project. this is the kind of time frame it takes. for our path to zero project in candidate, we're in construction right now. phase two will be running in 2030. that's the kind of lead time that it takes. the beauty of the small modular reactors is the sensitive construction on the nuclear core happens in a facility which is well monitored, and the quality control and documentation could be well monitored. the other thing is, it's an inherently safe technology, and it takes a much smaller footprint than a big one-gigawatt reactor. so, i can put four 80-megawatt reacto

shares of ges have vernova jumping.unced a dividend of 25 crept as share and approved a $6 billion share buy-back. shares are up more than 160% this year. >>> and bitcoin rallying back above the $100,000 level. >>> well, it wasn't just the mag seven hitting records today. from streaming to banking to retail, all-time highs were hit across sectors. we thought it would be a great time to break out an old fashioned game of -- >> trade it or fade it! >> that's right. we're bringing america's favorite game. yep, yep. >> still as confusing as ever! >> but it rhymes, so good. okay. >> so, we're kicking it off with costco, it went back to its 1985 ipo. up 51% so far this year. so, guy, trade it or fade it? >> can't believe i'm about to say this, but you got to trade it, mel. and you're out of your freaking mind at 50 times next year's numbers. you get a whiff of what walmart's done, you want to throw costco in that camp. i think costco can surprise, despite the valuation so, you still trade this one. >> yeah. karen, what do you

. >> take a look at a stock, ge vernova. a lot of people are saying it's a windmill company.me a break, don quixote. this is an labsolute bonanza fo companies that need natural gas power. that's datacenter for heaven's sake. that ain't windmill. >> yeah. that's -- that's what's turned the whole utilities playbook upside down. as for oracle, jim, the sound that got circulated over the weekend in which larry ellison describes what dinner sounds like between him, elon musk, and jensen huang. take a listen. >> if you listen to jensen huang, and i'm sure you do, i know you do because i've seen his stock price and i know i went to dinner with elon musk, jensen huang, and i went to dinner, and i would describe the dinner as oracle and -- me and elon begging jensen for gpus. please take our money. please take our money. by the way, i got dinner. please take our money. no, no, take more of it. you're not taking enough of it. we need you to take more of our money. please. it went okay. it worked. >> that's how you sustain 90% margins, i guess, jim. >> yeah. three billionaires walk into

nearly three months ago ge vernova completed its spin off from ge.razik. thanks for being here. >> thanks for having me. >> before we get into what's going on in energy, just being a ceo of a public company like this now? >> it's fun. this is a company that matters to the word. we're decarbonizing the world every day. i see clear opportunities for us. we're having fun. >> a.i., a.i., a.i. is happening wherever we go at the conference. one of the underlying issues is energy, how much energy is being used. i spoke to the ceo of microsoft a.i., he didn't think it was a problem. we had enough energy and it was going to be okay. do you think it will be? >> i think we can meet the growing demand. there's a lot of load growth that's coming. a.i., evs, u.s. manufacturing growth, the reserve margins in the u.s. are coming down. we have to invest a lot more into the electrical power system. we have the ability to do that, the technologies to do it. with these technology companies and their balance sheet and operating history, we can grow into this electricity

you might as well again with ge v vernova because you have something to fall back on and still get thespace mobile >> okay. i have felt that that company is overvalued it's a telecommunications company with mobile space. i keep waiting for starlink to come out and then i'd be more involved that's the elon musk company i can not recommend asd space mobile it doesn't make any money. let's go to mark in connecticut. mark >> caller: hey, jim, how are you doing? thanks for taking my caw. >> of c>> of course, thank you. >> dexcom. >> last quarter was really terrible a new quarter is on the horizon. i frankly can't believe it can be as bad as the last quarter. and kevin sayer i think can deliver. but i lost conviction after the last quarter i really did and that, ladies and gentlemen, is the conclusion of the "lightning round"! [ buzzer ] >> the "lightning round" is sponsored by charles schwab. >>> coming up, forget yankees versus dodgers one of the biggest rivalries these days seems to be activists versus ceo cramer tackles the companies in the crosshairs, next business. it's not a nine-to-f

another earnings mover, g ge vernova.mpany reporting a profit beat but a revenue miss citing weakness in the wind business but did grow in power generation and electrification. those shares higher by about a percent. and we'll end with a check on tesla, shares now sliding by just about 8.5% premarket as the electric vehicle giant reported its biggest earnings since 2021. automotive revenues hit particularly hard in the current quarter, down 7% year over year as they were hammered on a number of sides from higher artificial ielgentlince spending to ev discounts and rising competition in china. keep an eye on tesla, driving that tech narrative this morning. keep it right here. "squawk box" returns after this commercial break. from nike, hoka, on, and jordan. plus, the hottest styles from adidas and new balance. don't have time to get to the store? visit dicks.com for fast shipping, one-hour pickup, or same-day delivery. plus, with our best price guarantee, if you find a lower price, we'll match it. with looks this good, it'

it is not participating with the eaton and ge vernova of the world. i like banks.nk of america. i thought brian moynihan's comments on your show a week and a half ago was encouraging in terms of ter growth. they expect better loan growth and deregulation will help m&a will help. it will be the 2025 story and these guys have 0% of revenue ust that. we get basel iii end game. the rules will be less restrictive and brian moynihan is on record saying we will buy stock once we figure out the rules are. finally, i like the gap because i do think it's a special situation turn around story with richard dixon gaining new management and market share to nike in my opinion. they have had four quarters in a row of better revenue growth. generates $500 million of free cash flow. stock strayed up.trade up. >> i like how you said basel iii. it sounds like a movie. >> i don't know. i don't think it will be that exciting. >> folks who watch, they might like that game. nice to see you. happy holidays. >> merry christmas. >> with art. >>> coming up, a disappointing debut for disney's

on the infrastructure side we've talked about something like eaton or quantis or ge vernova.se stocks are up 50%. i point towards rock well because it's down 9% on the year. if you want to own some, there's a lot of ways of playing this theme. i think it's a decade long theme. you want to the have some involvement there. >> before i let you go what do you think of financials? they've been on a wild ride. a huge run on an expectation. all sorts of activities that's going to come next year. have they run too far? is this just the beginning? >> it's just the beginning. i am over weight the financials in a big way. first and foremost the valuations are not extreme. you're talking something like 1.2, 1.3 times book. 13, 14 times earnings. these companies have great earnings. probably the best earnings i've seen in about 20 years in terms of fee growth. market share growth. wealth management seeing an improvement because of better asset prices. if you add on deregulation, then if you add on oh by the way, end game and when hat comes out the companies are going to have to carry much

. >>> shares of power giant ge vernova lower this morning, the company raising its four year sales ande but the outlook coming in below street estimates, the company also initiating the first ever quarterly dividend and unveiling a $6 billion share buyback program. >>> and then the man charged with killing unitedhealthcare ceo brian thompson remains in jail in pennsylvania as prosecutors work to try to expedite him to new york, appearing in court yesterday. his lawyers said that his -- their client will fight extradition. they're going to fight extradition. it's crazy. and instead want a hearing on the issue of extradition since the killing of thompson last week shares of united health, cvs and cigna have fallen 6% as insurance companies face a wave of negative rhetoric on the other side of this news. >>> shares of macy's falling after the company reported earnings of 4 cents a share on revenue of $4.7 billion roughly in line with estimates. macy's is lowering its guidance now for the full year. we do have november cpi set to be released at 8:30 a.m. eastern time. steve liesman joins u

a price target of 250 for ge vernova, guard up 1% since jackson hole, up 20% since their spinoff allin april, so you can see stock moving higher right now. we also want to move over to a chip-maker micron getting a bearish note from morgan stanley lowering their price targets down. shares down more than 2%. the bank says there's some questions around growth for the chip-maker's fourth and first quarters. just last week it received a bearish call essentially cutting its price target in half. this it can is has been an underperformer in the chip space for years. chips up just 4%. >>> boeing shares, they are rebounding very slightly in the pre-markets up a quarter of a% but still near multi-year lows as the strike by the company's machinist union enters its fourth day. talks with federal mediators, those continue today, but over the weekend a leader for the union says he expects this strike to last quite a while. we had an analyst on "world wide exchange" who forecast the 30-day strike would cost boeing $3 billion and added the impact to operations including plane deliveries for the for

. >> so many cross currents last week where you had 3 m with a spinoff, ge, nova. and vernova 128. i urge people to look at this company. this is the environmental company when it comes to wind. okay? it is amazing. when it comes to power, it is incredible. they are also of course an amazing company and people should understand, it has a software component that is pure genius. and even up six it should be bought. >> your favorite of the three? >> absolutely. >> more than aerospace? >> i love aerospace. we own ge health care. but that is not mispriced the way this one is. this is just mispriced because of the crazy nature of the spinoff because people didn't know what they got. now it is starting to come back. all three are good, but they have a really good ceo and i think that larry koch gave you three gems. if you are esg centric, this is the one you should by. >> and how about tonight? >> i have a company called ferguson which a lot of people may know is a high end plumbing, hvac. a very exciting always on the 52 high week list stock. and i love those. david, welcome back. r

ge. we can do vernova. but how inflationary is minus 50? we don't talk about it enough.oo busy talking about oil and the refiners, which are really hot, by the way. that's been a good group while you were away. marathon. >> minus 50 cents. i didn't know that. >> thank you, rusty braziel for that. you've got canada coming down. you don't have enough pipe going east. our whole system is screwed up. you don't have -- not enough offloaded to lng, and then oil, you want to take it up? we can do it. you can lower the price of oil by just drilling more. but you know. you know exxon. >> we're at all-time highs in terms of production of domestic oil. >> we could go higher. >> but the actual number is the highest -- >> they could take it to 14 million. >> okay. >> but they're just choosing not to, because they like a higher price. >> who's the "they" here? >> the oil companies. >> oh. okay. just making sure i understood. >>> guys, when we come back, as we said, busy week with the latest on disney and nelson peltz and that proxy battle. in the next hour, disney board member carolyn

what larry kulp did -- >> being ge, similar to united technologies, split into several companies, whether it's medical or vernova and ge aerospace. they created enormous value with ge. ge's multiple is incredible. >> you got four times what you had a year ago. one of the things that happened there is you got lucky with the energy business. which turned out to be a windfall. what is really incredible, david, he -- they broke the company up in parts. they broke off the cats and dogs, chemical, aerospace, automation -- they just announced the plan to spin off -- october 8th. >> look, they are happy to have aerospace because aerospace is so good, and then everything else, office automation, climate controls, decarbonization. i think it's huge. we're not going to sell -- >> as a shareholder, are you in favor of it? >> yes. we have been selling because we felt the operations were poorly run. the missed quarter, enough. you don't say you're going to be at the high end and you come at the low end. we favored this splitup. we figure it's just a matter of time. they announced recently that they're going to split and get r

vernova. he is excited about staying on ge arrowspace and finding ways to further integrate artificial intelligencento the business. he also added that he is very optimistic on china despite the disappointing economic data showing airlines are looking to modernize and expand their fleet. whether the stock can continue its run, spoke to tony ankroft who runs the commercial arrowspace and defense etf, ge remains one of their biggest holdings. the valuation they say is justifies right now. >> thank you very much. >>> let's talk more on how to position in the market right now. chief market strategist at turtle creek wealth advisers. david, always good to see you. thanks for being with us. what do you make of or read into ge's outperformance in recent months relative to the dow and relative to some of the m magnificent seven stocks. is it a telltale? >> if you look at what happened in march, you had value outperform growth. you had small caps outperform large caps. starting to see the market broaden out. it's not just the magnificent seven anymore. and investors realize if we're really going to have a s

. >> vernova, the launch, and carl, vernova not to talk about -- >> the ge spin. >> talk about 5 the 5% increase each year in a short period of time because of alphabet and amazon and then the need to have scope -- >> and microsoft and - >> and - >> all these data centers we talk about getting built don't look at the public data center companies reit, they're rate based. >> i - >> well you talk about all these data centers but i don't see the stocks going up. >> absolutely correct. >> the -- >> it has the lowest yield of all the reits. >> we're talking about of the enormity of the construction projects going on right now. >> step further, who is going to be in control of the grid? is it amazon, alphabet, microsoft? or is it going to be the president and congress because amazon, alphabet, and microsoft do not -- they want solar. >> that's true you know the first thing you have to do when you want to put up a new data center, first thing you have to identify where your power is coming from. >> exactly. >> they measure the data centers based on how much power they consume. that's the wa