contessa brewer has the details. contessa? >> melissa, another twist in the drama that is new york community bank this year. the parent company of flag star bank announced a change in the executive chairman of the board, alessandro dinello is out. joseph otting will take on the chr role. dinello will stay on as director and adviser to otting. he briefly served as ceo from february 23rd through april 1st after moody's downgraded nycb to junk territory. last year, it acquired signature bank, got hit in the commercial real estate book, and the company hit with a slew of analyst downgrades. shares are off 69% year to date, and now will have the ceo coming on to take over the chairman role, melissa. >> all right, contessa, thank you. contessa brewer. karen, you are still in this? >> i am. i am. i just view this -- not so much, i mean, this was the -- i believe this was the ceo for which that other guy from the board resigned and said -- well, you know, i'm not certain that was him, i don't think this is a big deal. i think this is

contessa brewer joins us now. hey, contessa. hi, there. hi ellison. tesla has issued two more recalls for its cybertruck in the u.s. unlike many tesla recalls, which just require a remote software update, these issues require an in-person service visit to address issues around trim pieces around the trunk and faulty motor controllers on the front. windshield wipers. that recall affects more than 11,000 vehicles, which represents all of the cybertrucks sold so far. in other recall news, the fda is recalling almost 300 types of canned coffee because they could potentially cause botulism. the recall covers all of the products made by green bay, wisconsin based snap chill because they could lead to the presence of a deadly toxin. and just in time for summer, some workers in greece will start working a six day workweek starting july 1st. some workers in the private sector could be affected by the new rules, which were approved last september after productivity issues in the country meant many workers were putting in extra hours but without extra pay. if th

we've got baroness of betting with contessa brewer. ou're here, we know what it's about, contessa. good morning. >> if i coming back every morning with you, frank, and i get a new moniker, it makes it worth it. let's set the alarm evener earlier. there's a new report from morningstar that says gaming stocks are a new bargain. there's a report highlighting the growth for opportunities for the group fueled by sports betting and i-gaming. t consumers seem to have a voracious appetite for gaming. if you look at the year-to-date return, caesars is off by some 20%. mgm is down as well. the only one of the group that is up, flutter, which owns fanduel and draftkings are up and positive for the year. look at penn, up 30%. you look at illinois tax hikes and crackdowns. but also investors are looking at the competition among sports books and that grabbed the spotlight. fanduel owned by flutter and draft kings have a clear lead. betmgm and caesars have turned a profit in digital and they expect the margins to expand through 2026. gambling sales ar

contessa brewer, thank you so much. >>> still ahead, paris organizers are looking to make next month's olympics games the greenest ever, one way they're doing is making what's old new again. >>> plus, protests (vo) struggling with moderate to severe crohn's disease or ulcerative colitis? talk to your doctor about #1 prescribed entyvio, offering two maintenance options, including the entyvio pen. infusion and serious allergic reactions can happen during or after treatment. entyvio may increase risk of infection, which can be serious. pml, a rare, potentially fatal brain infection cannot be ruled out. tell your doctor if you have an infection, flu-like symptoms, sores, or are prone to infections. liver problems can occur. entyvio. relief. remission. for real. ♪ entyvio, entyvio, entyvio ♪ you can't leave without cuddles. but, you also can't leave covered in hair. with bounce pet, you can cuddle and brush that hair off. bounce, it's the sheet. my dry eye's made me a burning, stinging, 5-times-a-day,... ...makeup smearing drops user. i want another option that's not another drop. tyrvaya.

contessa brewer. >>> after the break, d.a. lower interest rate environment, so they've upgrated home depot to buy. but following bearish commentary on rates. we'll speak to the analy hi ialnestbendt l xt. sure, i'm a paid actor, and this is not a real company, but there is no way to fake how upwork can help your business. search talent all over the world with over 10,000 skills you may not have in house. more than 30% of the fortune 500 use upwork because this is how we work now. [crowd chanting] they ignored your potential, and mocked your ambition. but it's not the critic who counts. with every swing and block, your game plan never changed. ♪♪ some still call it luck. let them. because you know what it's always been. inevitable. ♪♪ ♪♪ >>> welcome back to "power lunch," everybody. check out shares of whirlpool jumping today on a report that the german engineering company, bosch, is considering making a bid for the company. but other home-related stocks have been struggling, including home depot, which fell 4% yesterday among

i'm contessa brewer with your news update.ng a look at the annual financial disclosures for the supreme court justices. clarence thomas declared a trip to bali. we see multiple big advances for books, but none larger than the $894,000 advance justice ketanji brown jackson reported for her upcoming memoir. she also declared concert tickets from beyonce worth $3,700. >>> secretary of state antony blinken is heading back to the middle east. the state department says he will push for the adoption of the u.s.-backed cease-fire plan on his eighth trip to the region since israel declared war with hamas. >>> and mike tyson's return to the ring again. social media star jake paul has been rescheduled to november 15th. the fight was initially set to air on netflix next month. the promotions company says tyson needs to get more time to train and prepare after he had an ulcer flare-up next month. tyson says, eh, the result will be the same on this new date with paul getting knocked out. he's very confident. >> you have to be. >> expected t

. >> pippa, thanks >>> all right, let's get to contessa brewer right now for a cnbc news update contessa overseeing the classified documents case against former president trump is hearing arguments this afternoon on whether to issue a gag order it would bar trump from public comments that prosecutors argue could endanger the lives of federal agents working on the case those arguments are part of a three-day hearing to deal with several unresolved legal issues. the trial itself is currently postponed indefinitely major music companies are suing two ai start-ups, suno and udio saying they infringed on copy rights by allowing users to make new tracks with text promps and create sound-alike recordings. universal music group, sony music, and warner music group are the biggest plaintiffs in the group. >>> and the disney/pixar movie "inside out 2" collected another 100 million according to comp store. that is a new record for an animated movie in its second weekend. the previous best was $92 million for the supermarios movie last year. it's now the highest grossing movie of the year with $724 m

i'm contessa brewer with your cnbc news update.a islands. a u.s. controlled territory north of guam. when he lands he's expected to plead guilty to a conspiracy charge as part of a plea deal with the justice department. this will end a more than decades long legal battle over assange's publication of classified documents. he has spent the last five years in a british jail >>> israel's supreme court ruled trawl orthodox jewish men must be drafted into the military. most israelis are by law expected to serve. the ultra orthodox have been ext exempt to allow full-time study in religious universities. benjamin netanyahu's government relies on ultra orthodox parties. >>> the surgeon general declared gun violence a public health crisis. vivek murty called on the country to give it the same attention as toe bay backco use and car crashes and marks first time the surgeon general announced a pronouncement on firearm death which statistics show hit a three decade high in 2021. >> thanks. contessa brewer. >>> investors gearing up for a gee in

cnbc's contessa brewer has a closer look at what's weighing on the gambling stocks. contessa?, gaming stocks are lagging the s&p year to date. penn's off almost 30%, caesars off 20% almost, mgm, wynn, sands, and red, as you point out, only fan duel's parent flutter and draftkings in the green for the year. so, morning star says the whole group is an attractive bargain, especially caesars, which it says is undervalued by 48%. mgm by 28%, followed by wynn at 27%. the analyst says investors are shying away because of competition, because of regulatory risk like, you know, illinois raising the state taxes. worries over inflation hitting discretionary spend, but really what we've seen is that consumer reticence is just not showing up in gambling. online and sports betting is fueling growth, and likely that's going to expand to more states. las vegas is on fire. it hit a new milestone in may we just learned today. air travel up 5% over last year. that's a record for may. macao still plodding upward in its recovery, but investors are spooked by macro china issues. just a note this we

. >>> over to contessa brewer now for the cnbc news update. contessa?partment rule is taking aim at chinese tech development. the proposal released today would restrict and monitor u.s. investments in china for artificial intelligence, computers chips and quantum computing. it specifically targets american investors funding chinese ai systems that could be used for military applications. amtrak disruptions stretched into a second day on the east coast affecting service from boston to philadelphia. trains running on the way after suspending service for two hours this morning because of overhead wire service. >>> las vegas police removed a mysterious monolith that appeared without explanation in a remote mountain range north of the city over the weekend. we just have the twitter shot of it apparently. police were concerned that the monolith would encourage people to venture off marked trails and pose a danger to delicate environmental areas. look at this. this is crazy. the latest discovery in a series of mysterious columns that have popped up around the

thank you, contessa brewer.ll out new generations of ai chips with aggressive timelines. we'll fill you in, next. (♪♪) at enterprise mobility, our experts always see another road. because when there's no limit to how far mobility can go, there's no limit to how far businesses can go. (♪♪) frustrated by skin tags? dr. scholl's has the breakthrough you've been waiting for. now there's an easier-to-use at home skin tag remover, clinically proven to remove skin tags safely in as little as one treatment. so this is pickleball? it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free. wall street forecasts ove

for now, let's get to contessa brewer for a cnbc news update. >>> jon, the first named storm of the seasonfrom a tropical storm to a tropical depression. alberto made landfall this morning in mexico bringing heavy rain and flooding that local officials say killed three children. the national hurricane center warns even with the downgrade the storm will bring intense rain to northeastern mexico today. >>> new york governor kathy hochul is moments away from signing a first in the nation bill that requires social media companies to restrict intentionally addicted algorithms for users younger than 18. this is set to take effect in 180 days after new york's attorney general sets out clearer guidelines and social media companies have raised concerns about potential free speech violations. and the ncaa reportedly pitched a plan to division 1 conference commissioners to expand march madness. according to the associated press, the proposal would add four or eight more teams to the lucrative men's or women's basketball tournament. the plan would give the traditional 64-team bracket and would add pla

contessa brewer. >>> a quick power check on the plus side, big way is apple.nd on the negative side, nextera energy after releasing 2027 guidance, that's down 6%. "power lunch" will be right back. ♪ [ growl ] ready for the road trip. everyone comfortable. yep, there's plenty of space. i've even got an extra seat. wait! no, no, no, no, no. [ gasps ] [ indistinct chatter ] [ sigh ] let's just wait them out. the volkswagen atlas with three rows of seating for seven. everyone wants a ride. [ snoring ] ok, get in. [ speaking minionese ] yippee! and see "despicable me 4" in theaters july 3rd. rated pg. since my citi custom cash® card automatically adjusts to earn me more cash back in my top eligible category... suddenly life's feeling a little more automatic. like doors opening wherever i go... [sound of airplane overhead] even the ground is moving for me! y'all seeing this? wild! and i don't even have to activate anything. oooooohhh... automatic sashimi! earn cash back that automatically adjusts to how you spend with the citi custom cash® card. [mind blown explosio

. >>> let's get to a news update with contessa brewer. >>> the supreme court agreed to hear meta's bids action lawsuit brought by investors. it centers on claims that facebook's parent company failed to disclose how personal user information would be misused by cambridge analytica, the consulting firm that supported donald trump's successful 2016 campaign. shares of meta dropped significantly when the scandal became public in 2018. the high court will hear arguments this fall. >>> the vice president of malawi is missing, along with nine others who took off on a military plane today. he was heading to the funeral of a former cabinet minister. the president's office says that plane was supposed to land 45 minutes after takeoff, but it fell off the radar, and hasn't been seen since. >>> and a stranded kite surfer was rescued yesterday, after spelling out help, with rocks on a remote beach in california. a private helicopter spotted his plea for assistance, and alerted first responders. it is not clear how long the man was down there or how he ended up on the beach but local officials say

. >> contessa brewer, thank you. >>> just one month to go until the paris olympics and team usa just made a major announcement. who made the highly anticipated women's soccer team roster and who did not. >>> plus, jury deliberations are under way in a murder trial that under way in a murder trial that has taken social medi whaen my doctor gave me breztri for my copd things changed for me. breztri gave me better breathing, symptom improvement, and reduced flare-ups. breztri won't replace a rescue inhaler for sudden breathing problems. it is not for asthma. tell your doctor if you have a heart condition or high blood pressure before taking it. don't take breztri more than prescribed. breztri may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. ask your doctor about breztri. no, my denture's uncomfortable! dracula, let's fight back against discomfort. with new poligrip power max hold & comfort. it has superior hold plus keeps us comfy all day wit

talk all things hockey is commissioner gary bettman and our vegas and gambling correspondent, contessa brewerere. >> i have. it's amazing. i can't believe the hockey draft is going to be there tonight. >> yeah. commissioner bettman, you have had a busy week. you had a thrilling game 7. i guess i can't remember what night it was. maybe monday night? florida won the cup from edmonton. the ratings were really good. >> it's a great time to be at the nhl. what takes place on the ice has never been better. people are saying competitive and aesthetically, we may have had our best season ever. business is booming. ratings are great, and we're in vegas. we celebrated our awards last night with the special show, and being here in amazing, amazing company at sphere of vegas is just simply incredible, and what i think we're going to show for what's typically a business meeting is going to be nothing short of dazzling. >> i mean, what's really remarkable is that this is the first time the sphere will have anything sports-related and the first live event coming from the sphere, and the very first time that

i'm contessa brewer. president biden apologized to the ukrainian president over long delays in u.s.ing. the president announced a new weapons package as he met with volodymyr zelenskyy in paris. >>> prosecutors are expected to rest their case today in the federal gun trial of the president's son. the president told abc news yesterday he would not use his presidential power to pardon his son if he's convicted in the case. >>> netflix is facing a $170 definite nation shot over "baby reindeer." in the series, that person is named martha. the suit claims the show made it possible to unmask quickly fiona harvey. she said she was nerve imprisoned for stalking. netflix says it would defend richard's right to tell that story. >> contessa, thank you so much. >>> crypto is off to a strong start in june, option traders believe the rally can continue, new data from the largest crypto auction exchange, showing high interest in call options expiring the 28th. the recent bullish sentiment also giving coinbase a boost. up over 20% during the last 20 days of trading. >>> we want to go back to shares

i'm contessa brewer with your cnbc news update.the panel resumed deliberations this morning after they were handed the case yesterday afternoon. they deliberated for just one hour before they were sent home. the president's son faces three charges for applying for a gun while allegedly using narcotics. >>> malawi's vice president and nine others have been confirmed dead following a small military plane crash yesterday. the president of the southeastern african country says the plane went down in bad weather in a mountainous region. they were attending the funeral of a former government minister and secretary of state antony blinken announced $400 million in humanitarian aid to gaza and called for other country in attendance to give money to address the crisis and it urged israel to do more to prevent civilian casualties. sara? >> okay, contessa. >>> cnbc out with its latest fed survey, a poll of some of the nation's topmoney managers and also investment strategists and professional economists and mixed picture when it comes to the

i'm contessa brewer with mike santoli and we're life at post nine of the new york stock exchange.bc ceo council. today we're looking at deutsche bank's chief global strategist, bankim chadha, how it creates buying opportunities. elon m