you mentioned doordash. fundamentals got stronger, but they are not yet putting up sustained gaap earnings. it's going to be a challenge for pure growth equities like doordash. i like it as a stock, but in this market, it is going to be a challenge. airbnb put up good numbers earlier this week. stock could not hold the gains. uber put up good numbers, stock could not hold the gains. the one that could was booking. they had positive results, a bulletproof balance sheet, etc., so the market is very discriminating and will not tolerate growth assets right now. if you are a growth stock, you better have a good earnings track record. i think that is kind of what is happening. people are just going to the defensive end of growth. usually there's not too many names in that space. emily: based on the actions the fed is taking, how concerned are you about a recession and a prolonged market meltdown? >> i don't know. i'm certainly no expert, but my interpretation is that the market on thursday and friday said we do no

again, 90% of the dashers on doordash do fewer than ten hours of work. the average dasher -- >> a week. >> a week. the average dasher does four hours a week when you think about it interest that perspective u we represent hundreds of industries, people who, you know, can be everything from u.s. olympians to retail workers to students, they're all dashing as a result. we have a structurally fundamental advantage over any other form of part-time work. >> jon's got a question for you. >> hey, tony, good morning. >> hey, jon. >> as we're talking, doordash stock kind of tipping into the green a bit. i want to ask you about inflation through the lens of doordash, but on a couple of areas in particular. one is dash pass because you've got some subscription providers, like netflix and others, leaning more into advertising because they believe that consumers might be subscription sensitive i wonder how that plays out with dash pass. and then your retooled pricing for restaurants, which you did during the pandemic, where, you know, now it's a little bit more ala c

. >>> plus, doordash failing to deliver gains this year.e ceo's plans for the future in today's working lunch. >>> and during may, we're celebrating asian american and pacific islander heritage, and featuring some of our cnbc teammates and contributors here is cnbc video producer dean milar. >> my parents taught me at an early age the value of education and hard work. being the only asian kid in the room in most of my classes, i didn't have much of a choice but strive to be the best that i can be working alongside my paernts at their restaurant really inspired me and motivated me to be my best and those are the values that have always stuck with me throughout my education and my professional career, and i hope to pass that down to my daughter someday. - look, this isn't my first rodeo, and let me tell you something. i wouldn't be here, if i thought reverse mortgages took advantage of any american senior or worse, that it was some way to take your home. it's just a loan designed for older homeowners and it's helped over a million americans.

we saw doordash down 55%, and we saw a lot of these funds back out of things like netflix and doordashrelated to hedge funds is berkshire hathaway backing away from wells fargo, exiting its stake entirely after three decades of backing that bank. francine: doordash for the international community is basically like uber eats. charlie, where are they actually putting their money? >> there is confusion and you see divergence in the performance of hedge funds. carvana, which is an american car platform, you saw capital back away from there, but you saw tiger global go into this investment. that is some divergence. i also want to mention a retail favorite, but it is down 56%. they have not shifted gears and they are keeping the shares they had previously, and that could potentially indicate that it was a pre-ipo investor. a lot of these filings, it is a murky look under the hood but it is a look under the hood. tom: it seems like you are sowing, but the pain is fair. who comes out of this in better shape? >> speaking of diversions, we are seeing diverted performance across different strateg

. >>> and doordash to dropbox. a number of household names mo moving on quarterly results. >>> it is not all red arrows on wall street. the areas are doing well and the guests offering stock picks. >>> and the volatility ends with the test for the markets the monthly jobs report due out at 8:30 a.m. it is friday, may 6th, 2022. you are watching "worldwide exchange" here on cnbc >>> good morning i'm frank holland in for brian sullivan let's get right to the markets this morning futures right now are lower the last time i checked. lower this morning at this point, still very early. dow poised to open up about 100 points lower this follows another wild day on wall street. indexes breaking the three-day win streaks. nasdaq with the worst day since june of 2020 dow dropping 3%. its worst day since october of 2020 nasdaq composite and 100 and russell 2000 are in bear market territory. more than 20% from the 52-week highs. all 11 sectors closed lower in yesterday's session. the worst is consumer discretion the best was ut

orders doordash and then they deliver it to the household. earnings are up in the premarket more than 6%. it was not horrendous. doordash shares are down 50% year to date heading into the session because of the reopening trade and how much it has gotten beaten up. zillow is a perfect example of a slowdown in the housing market. shares down 14% after reporting the lookahead really speaks to a lack of sales, actual transactions. the supply isn't there and people are getting nervous with mortgage rates at the highest levels since 2009. draftkings, everyone wants to bet on sports. tom: did you bet last night on draftkings on the met coming back against the phillies? lisa: they are doing pretty well. he is a big mets fan. so is mohamed el-erian. if you take a look at what is actually winning amid all of this carnage, it really is the energy sector. i find this amazing after the gains we have seen of more than 50% of the likes of even exxon. shares up even in the premarket. $91.05. occidental trillium got a boost after reporting good earnings, boos

let's talk about these gig economy ride hailing and last mile companies in a way so uber, lyft, doordash, there is this weird thing happening where the inflationary environment type labor market has made uber and lyft really pretty expensive right now doordash is in this interesting position where, yeah, of course it's also expensive, but it's got dash pass as well, and it's kind of making this move to be a marketing vehicle, even for consumers who want to pick up from store, perhaps. so of those names, which do you think is most inflation protected, and most labor market protected? >> good question i think it's uber, just because of the rides side of the business you know, we think that the elasticity around rides is likely to be lower than the elasticity around eats, but there is an impact on both now, in the near term, as we go into the back half of this week, and look to the rest of the year, we think that between the reopening of the world, people going back out, people traveling, people coming back to work, even at more -- at smaller percentages than previously, i think the rides b

any others doordash is only down 1.5% but to your point, it was a good quarter. >> yeah.u're not getting paid for good prints. so you want to stay as defensive as possible. the consumer internet space, it's not a defensive sector, but the names that hold up the best are the highest quality assets i still think that's google, i still think that's amazon and i throw out booking as an idea too. now this is going to change at some point when it does, i think there's some wonderful reopening plays you want to be long uber and doordash when we start moving back to growth equities. i don't know when that is but when we do, these companies are showing improved fundamentals and you want to be long those things when that turn in the market comes. >> are you having any conversations, mark, with different sorts of investors, value investors, for instance, names like google or amazon or meta after these stocks have been shellacked? are we at that point yet >> i think we are close to that point. i have had those calls they first started coming in on facebook earlier this year this thin

>> well, if you look at a chart of market share over the last few years, you can see doordash came in were able to do that is their ceo had a different strategy he started in the suburbs and then went into the major cities and that allowed them to really dominate at the time uber was undergoing some turbulent management changes so they didn't put as much into eats as they are now. >> all righty, thank you very much we appreciate it >>> checking on stocks as we head out the door. the dow is down only 430 points, about the same as the nasdaq right now. tesla was trading below 800 earlier this hour and has climbed a little above that level now. >> and you look at the other four horsemen, alphabet, apple, meta and amazon, amazon the biggest laggard, down 4%. >> thanks for watching "power lunch" everybody. >> "closing bell" right now. >> thank you, kelly and tyler. more pain for the major averages to kick off this new trading week the most important hour of trading starts now welcome, everyone, to "closing bell." i'm sara eisen take a look at where we stand. the nasdaq down 3.5% more selli

. >> doordash.ng, what they left out of all these conference calls was the absurdity how much people are abusing their same days >> we haven't mentioned the buyback at doordash, $400 million to offset dilution from rsus, an interesting turn on strategy for some of these names. >> tony is an honorable fellow, trying to figure out exactly how to keep people with doordash there was a grubhub fiasco this week which i don't know if you saw the grubhub -- everybody switched to grubhub because grubhub had this -- >> promotion, right? >> promotion every restaurant was hurt by it. everybody was hurt by it but tony is showing great honor there. what a terrible stock. airbnb, a terrible stock >> the company is doing okay, more than a billion in stock >> global revpar is doing well but may is showing topping action, which may have huge implication for hotels and airbnbs. >> if the fed does its 50/50 thing, it's obvious they're long dated assets, and long dated assets are losing value. >> it's interesting on the

takeaway and doordash have been big consolidators.ink that space is going to continually have to do deals amongst itself until they get to a small enough number of players to be profitable. >> anything like uber should by lyft? >> have you ever seen two businesses more in need of a merger? with the ridesharing space it's really challenging because they are competing for the same thing ultimately which is they thought , i've been in sanford disco for the last 10 years while these businesses are being built up and they are creating themselves as fast-growing software platforms and they are treating humans like commodities. if we have learned anything, humans are a precious input cost into the function of these businesses. those business models are more dependent on humans then just about any business you have seen come out of silicon valley. that is a really competitive place to be and it's a hard place for investors to sit around and be patient for them to find ways of scaling those business models. >> how long does this drag out? >> a

also doordash is down about 55%. we also saw melvin capital exit there, but it was not just hedge funds that indicated the changes here. what was interesting as warren buffett's berkshire hathaway leaving its wells fargo state. manus: they are lumping it large on citigroup. thank you very much. we look at it too $.9 million bet on citigroup. concessions. sweden and finland to nato are facing complications after turkish president erdogan says he was -- not allow them to join the alliance. >> sweden and finland have a clear stance against terrorist organizations throughout this process even if they say they are against terrorist organizations, they have statement that they will -- certain terrorists. manus: let's get to our european government managing reporter. is this a russia-stumble -- is this a moscow-istanbul told? -- tilt? >> the expansion of nato north is a key move not just finland, but sweden who feels like they're are under pressure from russia and also the baltic nations. those three countries on the south

doordash ceo tony hsu. we will ask if consolidation is in the future.orget to check out our podcast anywhere you get your podcasts. ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its afits oyees. >> the following is a paid presentation furnished by rare collectibles tv llc. >> the morgan silver dollar is without a doubt the most iconic coin in united states numismatic history. designed by united states mint assistant engraver george t. morgan, the silver dollar series was minted 1878 to 1904, and

i mean, that's -- that was not what i wanted to see from doordash i don't know whether that stock wille up at the end of the day. it certainly was up 5 when they first reported when they start off by saying we had 400 million total orders, that's old style that's pre-november. that's pre-november. pre-november, that stuff worked. ever since the fed said it was going to tighten, none of these things works so, you know, if you're in that stock and you're doordash, he says, he's doing a good job. terrific i don't own the stock, but he's doing a good job i'm not talking about fubo here which is a $3 stock. i'm saying there are real -- pe these are all real companies but the amount of money that they're losing makes you worry i had shopify on last night. that is a fabulous company they made a very big acquisition. the second biggest after amazon. but they're not doing well because they're not making money. >> so are you of the mind that when it comes to tech selling, this bofa note this morning looking at the nyse composite, jim, and everyone is looking at the 100 weekly moving average, loo

he ordered 31 cheeseburgers on doordash from mcdonald's. listen to what she had to say. >> he likes to take photos of himself. he was doing that. i thought i locked the phones. apparently i did not. they came with 31 cheeseburgers. >> the grand total was nearly $92. and the driver got a $16 tip. the mother offered up the burgers for free to her friends on facebook. >>> lock your phone. temperatures will be warm. no cooking. and we are going to see the valley temperatures staying warm into the weekend and getting hotter next week with highs in the mid-90s. we have highs in the 60s near the coast and in san francisco with the gusty wind. we will watch out for the fire danger. >>> thank you for joining us. the next newscast is at 5:00. >>> you can get the latest on nbcbayarea.com. you can join us tomorrow morning at 4:30. have a great day. >>> right now on 'california live' , get ready to be inspired. we talked to a young artist. >> i never let the challenges drag me down. >>> summer is almost here and lisa has the secrets to glowing skin.>>>

, there seems to be investors valuing airbnb and doordash so much higher. what do you think is going on at the ride-sharing companies and why haven't they been able to catch investor attention >> certainly you've got a different dynamic going on when people were afraid -- during the pandemic, afraid of contracting covid, you definitely saw pressure on the rider's side and the driver's side as you look at ride sharing platforms, they're definitely getting back to prepandemic levels, even above prepandemic levels lyft is just below from the standpoint of thenumber of drivers. i think as people get more comfortable in those environments, you'll see continued growth there as i mentioned, there's certainly a tailwind for the covid and pandemic-related services in the delivery i think people will find they like that convenience. i think you'll still see growth in there the next 12 months, as people work through some of the economic realities here as travel opens up and as businesses open up, i think you'll see a little different reaction or customer behavior on e

. >> our camera caught a doordash fire trying to stamp out a small fire in pleasant hill with his delivery bag this afternoon. >> it wasn't real big, so i knew that i could just jump overt fence and just try to knock it out with my bag. know? but i'm glad the firefighters here now. >> reporter: with concerning conditions already upon us, this may, firefighters do have one very important request for days like today. do not clear the tall, dry grass until temperatures drop, and winds settle. >> red-flag days are not the days to be going out there with mechanical equipment because they can create sparks. >> reporter: in martinez, andrea b borba. >>> across five counties including napa and solano and the red-flag conditions prompted the city of fairfield to close four of its parks. they will re-open on saturday. >>> tonight, loved ones are mourning the death of a beloved oakland restaurant owner who was shot and killed in front of his own son. kpix 5's kenny choi spoke with his heartbroken friends and family. >> reporter: holding back tiers, jose ortiz is struggling with the reality he was lef

he was playing the doordash i got.mmediately turned around and post to social media. 31 free cheeseburgers. if anybody wants of how when or if you thought it was just sort of this game is awesome because i get free prizes every time i win this time, i won. 31 freedom sure. this game ever. >> no, no. its magic on and 56 is that i will take a break. we've got a lot of news coming up here in the next hour, including the latest with that red flag warning that is going to go into effect today. >> as the high winds kick in this afternoon, we'll tell you why it's going to be such a big risk for fire. plus, some breaking news overnight. several people were shot in oakland along interstate 5.80. we'll tell you what the chp knows about that investigation so far. it's started. somewhere between a cuddle and a struggle, it's...the side hug. tween milestones like this may start at age 9. hpv vaccination - a type of cancer prevention against certain hpv-related cancers, can start then too. for most, hpv clears on its own. but for ot

but apparently i didn't because doordash came with 31 cheeseburgers.ep. 31 burgers. the cost with the tip, $91.70. golden says when the order arrived she posted on a community page an offer of free burgers. >>> coming up on "cbs mornings," actress rose mciver. s mornings," actress rose mciver. but so is your sound engineer. 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 bother the bugs... gotcha. ...not your family. zevo is made with essential oils which attack bugs' biological systems. it gets rid of the bugs plus is safe for use around people and pets. zevo. people-friendly. bug-deadly. >>> our top stories this morning -- the mayor of buffalo says that the first funerals for the ten people killed in last weekend's supermarket shooting could begin on saturday. yesterday president biden visited buffalo where he consoled grieving families. he called the shooting domestic terrorism and condemned those who spread racist conspiracy theories. >>>

. >>> a texas mom got an unexpected notification saying her doordash order was going to take longer dueo the size. >> the problem she did not recall ordering anything. her youngest son did after getting a hold of her unlocked phone. the driver arrived with 31 mcdonald's cheeseburgers. >> so i didn't know what to do with them. he only ate half of one. i posted it on a community page in kingsville and asked if anybody wanted some. one girl came by and picked up six. >> we were wondering how much 31 mcdonald's cheeseburgers cost, came to just over $90, after fees and a healthy tip for the driver. >>> good morning, everybody. straight ahead in sports, the eastern and western conference finals are here. we go west later on with mavericks and the warriors at chase center. celtics and miami heat, they couldn't wait, they went last night. that and baseball, the giants used the rockies stadium last night as a launching pad, >>> good morning everybody. this one is for the city aaa champ washington eagles baseball team. good job over lowell yesterday at oracle park. the occupants of oracle, the gi

. >> reporter: our camera caught a doordash driver trying to stamp out a fire in pleasant hill with his delivery bag this afternoon. >> it wasn't real big. so i knew i could jump over the fence and try to knock it out with my bag, you know. but i'm glad the firefighters is here now. >> reporter: with concerning conditions already upon us this may, firefighters do have one very important request for days like today. do not clear the tall dry grass until temperatures drop and winds settle. >> red flag days are not the days to be going out there with mechanical equipment, because they can create sparks. >> reporter: now what you're taking a look at behind me right now, that is what defensible space should look like, according to con fire. you could should be cutting the grass down to the dirt, wind conditions allow. they say they have staff and extra bulldozer screw over this weekend just in case because of these changing conditions out here in contra costa county. sara? >> andria, we know that can make a huge difference. thank you for showing us. >>> looking for leads after a deadly freew

it cut its stake in doordash and shall provide. -- shop if i -- shopify.ing some rotation in these stocks that were held during the pandemic. >> important for investors to know this. roman capital had a rough year. can you tell us what they ditched? >> they struggled last year and this year. they got out at 16 positions. they bought spotify, visa, mgm. they increase to their amazon positioning. >> they walk away from the bed. we take a look at the latest on this deal and what it could mean. this is bloomberg. ♪ >> cbc capital was planning on walking away from the potential bid for bram. harry joins us here in sydney for more. why the change of heart? could we see talks continue later on? >> yes. i think it is a real symptom of what we are seeing across the board in terms of volatility. it has been a roller coaster for markets as we have seen since the start of the year and that is just starting to hit a sector that would not normally get wet as much -- quite as much. the high yield spread to markets at the moment is as high as it has been since the pandemi

haves, airbnb, doordash and block, formerly square, and everybody else bottom line. if we get more chinese good news tonight along with fine quarters from target and lowe's looking nothing like walmart, we'll have another great day tomorrow if we don't, miserable, horrible, walmart style view of the world. sporting goods aisle is awful. telling you fishing rods are miserable. go to cabella's. all bets are off carol in texas >> caller: been wanting to tell you this pour for a month, when morning sidekicks made fun of your jacket, something out of guys and dolls tlt, don't they know they were comparing you to marlon brando, ultimate man? >> i thought i was more nathan detroit but i understand marlon brando and accept that i told them off camera to take back that mink go ahead >> caller: along with the post nasal drink. >> i like that go ahead i'm sorry. >> caller: speaking of icons, poster child for this environment has been procter & gamble, but since november they're moving sideways two things come to mind, number one is that that's best i can hope for in this enviro

steve is having a good quarter i was out with my friend tony yesterday from doordash. the biggest problem restaurants have is you take out, okay but the sign-up for cards for american express is extraordinary. so if you want to sell american express because of some analyst note, you have to dole with the fact that steve has done an amazing job and business is good right now business is good and businesses get bad that's where we are. if mark zuckerbergwere sitting there, which i doubt would happen, i would say i can get any senior engineer in the world. why should i hire five junior engineers when i can hire a senior engineer? we are in what i call -- we're out of the great resignation period >> oh, yeah. >> that just ended now we near the great application period >> the great application >> people are applying everywhere when you're laying off 2,500 people at carvana, i got a car for you, partner >> claims at 203 still relatively muted >> don't worry it's wrong this is the beginning of the great application. jay, listen to me, i know you're jammed up, but this is happ

much overlap do you see in drivers versus -- are you also competing with instacart and grubhub and doordashzon and domino's pizza? they need drivers, too. john: within the category of drivers, the highest earnings historically on average have been found within the rideshare segment. we typically require newer vehicles and background checks and driving record checks are always required. that isn't something in these other industries that is always the case. there are segments of the population that want to earn more and have access to newer vehicles. emily: i want to move to another story. huge story we are watching. the leaked draft opinion from the supreme court that signals that roe v. wade could be overturned. that has -- lyft has come out in support of reproductive rights. you will defend drivers facing legal action where we've seen antiabortion laws make progress. what is your reaction to this draft opinion? what more is lyft prepared to do? john: it is very concerning. we've been clear on our viewpoint on women's rights to choose and have the reproductive health access. we've made a d

. >> it's certainly a tough market but the fundamentals for doordash are incredibly strong. >> i thinghe fundamental proposition provided to our customers. we keep our eye on the ball, which is serving our customers. caroline: a few tech exec activities we've been having across the bloomberg technology show in the last week or so. we want to talk with another c.e.o., amp fullily tuesday. spens effects r is with us. of course, i'm sure you're going to say, look, eye on the prize, keep focused on the business. what do you do when your investors must be shell-shocked? >> we're really excited about being out in the public markets. one of the number one things i had to emphasize with the team is that short-term market volatility is not in your control. you can still delivery everything you commit to as a company. we had one of our most phenomenal growth years last year,-up over 60% year of year, yet you can still get hit with things out of your control. we're seeing that happen broadly. it really tests that of what cc.e.o.'s and what teams are in it for the long term vs. short. caroline: i'

to a jamba juice. ( laughter ) meanwhile, in delivery news, when you live in remote alaska, your doordashcan take as long as a couple of days. the reviews are pouring in, and they are as warm as food that spent two days on a plane. one alaskan said, "it's not hot. it's not fresh. but at the same time, it has the flavor you're wanting." ( laughter ) coincidentally, that's the slogan for papa john's. ( laughter ) ( applause ) meanwhile, according to a new study, migrating turtles don't really know where they're going. what a strange way to find out that i am a migrating turtle. ( laughter ) meanwhile, a man opened an emergency exit of a united airlines jet, walked onto a wing as the plane taxied at o'hare international airport, and jumped onto the tarmac. to be fair, though, the in-flight movie was "morbius". we'll be right back with ricky gervais. about life is that for me, one of the bests we keep moving forward. we discover exciting new technologies. redefine who we are and how we want to lead our lives. basically, choose what we want our future to look like. so what's yours going to be?

it happened in food with doordash. it happened in transportation with uber.happening now in e-commerce with nate. consumers demand aggregation of at least 2 million retailers in the economy. emily: you have bolt. why is your company called nate? albert: nate is in a way an assistant that lives in the cloud that those things on your behalf. we know we wanted to personify. i wanted to make sure that we did not use a woman's name because there are lots of assistance that have associations with the word woman. we are going to object if i a machine that -- to objectify a machine, it will have a man's name. it was a play on native commerce. emily: it sounds like a very interesting play we will continue to follow. albert saniger, founder and ceo of nate. coming up, the coinbase ceo spoke at the milken global conference about everything from crypto adoption to a decentralized twitter. we will talk about all this and more with a web three company, next. this is bloomberg. >> i think freedom in all forms is with defending. crypto, a lot of it is about economic freedom.

softbank runs the $100 billion vision fund in the publicly listed stocks like uber and doordash and alibaba their value this year. softbank is run by masa yoshi son. >>> and rivian is up 2%. this after it has come down more than $150 per share or more than 80% from the intraday highs of last year. orders for the electric pickups did remain strong. where does this once hot ev maker go from here joining us is wedbush's dan ives dan, great to have you on. it feels like a contradiction from what i heard and read i did not listen to the conference call. i read about the highlights afterwards orders are strong. not just from retail customers, but also from amazon and on the electric truck side. they are seeing strong demand for the product itself what do you think is the problem with the equity? >> the biggest problem is since the ipo, this has been a train wreck. i think a big part that have has been the communication for management the ability to control the supply chain, some out of their hands. investors do not have confidence that they have been able to navigate ultimately the price increase

farfetch, pfeifer and doordash, chewy and etsy are firmly in positive territory today after falling moreyesterday's sell-off two of etfs that attract those names and those tickers would be ibuy as well as onln and we'll see if today is a step in the right direction or a pause in the selling. tyler, over to you. >> kristina, thank you very much the dow transports extending their slide down 6% for the week and rising fuel costs and slowing consumer demand and they're the major concerns here, but there is a school of thought that those fears are overblown frank holland has a look at the freight fears. >> you can see that there are a lot of investors out there that are believing that those fears are overblown, as well and we're looking at old dominion freight line up 8% and over to forward air up over 2% and will they help companies that put their freight in different ways as opposed to just point a to point b trucking and old dominion. it's the air lodgistics and they help people adjust their supply chain and something different from point a and point b we were nervous about it because the

[ applause ] >> jimmy: what you do is call doordash and never cook anything again! [ laughter ] i do that almost every weekend. another popular app is grindr, [ cheers ] okay. the lgbtq plus dating app, which announced this week it's going public. it didn't announce, the people that work there announced it's going public. now this is the app i wish elon musk would buy. when a business goes public, it means they're selling stock in their company, and for most straight people grindr is a bit of a mystery. to shed light on how it works, i asked one of our writers, louis virtel, a grindr user, to take us through it. so here is "virtel it like it is!" louis? [ cheers and applause ] rindr is mor a gay hookup app. it's also the most popular last name in my phone. [ cheers and applause ] "alex grindr," and "big lips grindr," "joe grindr." none of these people know each other, but to me, they're a family. [ laughter ] the grindrs. grindr is a great way to meet queer people in your area, learn they're 150 feet away, and wonder if they're watching you right now. [ buzzing ] oh

stretch on you because i see a parallel between some of the logistics companies and uber, lyft, doordashe trying to utal utilize. >> they're focussed on making sure things move quickly and efficiently through a system so you don't have things stuck on a port or a back o spoiling because they weren't kept at the proper temperature it's all about maximizing efficiency and a lot of these companies have an environmental bend as well with the idea that the more efficient you are the less your carbon offsets are or your need for carbon offsets are and sometimes even enable their customers to buy carbon offsets. >> makes a lot of sense. thanks. >>> now let's dig a little deeper with one of these names, flock freight, shipping and logistics company aims to solve the supply chain crisis and reduce waste by pooling multiple shipper's freight into a single multistop truckload. joining me now flock freight's ceo and founder oren zezlensky what is the key differentiate ter that's going to allow you to succeed where some others might not? is it quality of data? is it access to data is it a particular

. >> they're both intensely local businesses, nextdoor in particular but doordash has data about the local markets it serves and the big question for everybody is the market is down because people are taking cash out where is that cash and how are people going to spend it is overall the big question here. >> we will find out whether or not that plow gets plowed back into savings or what, nilay. appreciate that very much, nilay patel. >>> another business scaling back, airbnb shares are down % shutting down its domestic china business all of the mainland chinese listings, homes and experiences, they will be taken down by the summer, but the company will maintain an office in the country focusing on outbound travel, so why now, well, airbnb faces tough and growing domestic competition, plus sources tell me this segment was costly to operate, and the pandemic made the issues worse airbnb may be looking at a worsening macro backdrop like others, and perhaps china has been one of the areas that it's been considering airbnb launched its china business six years ago, and it accounts for 1%

it's been a rough road lately for recent ipos especially in the food delivery area doordash jumping todayeek high and just eat takeaway, the parent of grubhub is 90% off its yearly high let's get to kristina partsinevelos for a cnbc news update. >> thank you, tyler. here is our cnbc news update at this hour. north korea declaring a first national emergency as the first-ever case of covid is identified within the country according to state media leader kim jong-un is ordering lockdown pleasures in all cities and directing the distribution of medical supplies. >>> the supreme court's nine justices are gathering in private since the leak of the draft opinion which would overturn the landmark roe v. wade case. protests continue outside the supreme court and across the country. >> nearly 2,400 people needed medical treatment following the travis scott astroworld. over 700 of those victims sought extensive treatment from their injuries when the crowd of 50,000 attendees began pushing toward the stage last november the federal aviation administration is suspending the licenses of two red bull st

sophia was given a life saving award from the police department and $1000 educational grant from doordashmetimes the wrapping paper is really the best part of any gifts. just ask and the toddler or some red tailed monkeys. the oakland zoo shared this video. one of the monkeys having a blast with the wrapping paper and that role. ribbon at their to bits and pieces and just having a grand old time. cute little monkey. zoo. there is a new glass bottom bridge that is now opened in vietnam. it spans more than 2000 feet. the back-log pedestrian bridge is said to be the longest glass bottom bridge in the world. with the guinness world record scheduled to visit later on this month. the bridge is built with 3 layers of tempered glass. it's 500 feet above valley. the company that designed the bridge, put it to the test by having heavy cars and trucks drive over it. officials say can support 500 people at a time. and i will take their word for it. would you go on tonight? it's the met gala is returning to the metropolitan museum of art. this is video from the last one, the annual fundraiser or as th

we went with instacart then, ultimately, we're starting to roll out to doorcash and uber eats -- doordashl. yes, we're putting marketing behind that so try to incent people to find growsly outlet and find it -- grocery outlet and find it on loin. -- online. cheryl: the customers order through the uber app, right? >> ca exactly. cheryl: and you're giving them an incentive for a couple months, right? >> we are not yet, but uber is and instacart has been. and ultimately, as we start really understanding how it's going to impact the business, you know, we'll get behind it a little bit more. cheryl: okay. all right, yeah. well, it's great. congratulations, eric, thank you very much for being here. >> yeah, appreciate it. take care. cheryl: all right. well, let's talk horses. let's switch gears. take a break from our markets for about five minutes. the second jewel of the triple crown is set but without the winner of the first jewel. we're going to take you straight to pimlico racetrack for a preview of the 147th running of the preakness stakes. and taking a look at the big board -- i lied, we'

. >>> and doordash to dropbox. a number of household names mo moving on quarterly results. >>> it

. >> jimmy: and, so, yeah, this is -- "me when the doordash person knocks instead of just leaving thee enough, trick or treaters. let's go we're sleeping, we're sleeping." >> why are we so scared of them? >> jimmy: i don't know just -- come on. just drop the food off we had a deal. this one i love. this is cassie in high school versus me in high school >> oh no >> jimmy: and everyone has done this [ laughter ] >> jimmy: because -- just the way the characters dress on "euphoria. >> they -- they got their [ bleep ] together >> jimmy: yeah, i mean -- yes, they do. you can't say that on our show >> oh, i'm so sorry. >> jimmy: yeah, no problem, you can't say "together. you have to say -- [ laughter ] this just made me laugh. and then everyone started doing it and then, i told you that we're going to do this meme thing. and so you said, "i'll help out," so - >> oh, no! >> jimmy: here's a picture of you in high school this is cassie in high school versus you in high school. not -- [ cheers and applause >> jimmy: there you go >> oh, no. >> jimmy: that's -- come on, so cute come on, buddy >> o

. >> i think if you take a view for a snowflake, if you take a view for a doordash, for an air and b at it for the next few years, you can start buying snowflake tomorrow morning >> caller: glad to be back on the show again, it's been a while. >> good to have you, join the club, what's up? >> caller: i'm befuddled on a stock that's just been killing me so we all know that anybody tied to oil as far as the raw materials is getting crushed, but i got a trade less than six times earnings, just had a great quarter. had the best first-quarter revenue in ten years, the cash flow plus. they're passing on the raw costs. they've had great international growth, so they're not tied -- i'm trying to hold the name of the company until the end. go ahead, so they've got great international growth >> okay. okay i'm with you hit me, hit me, hit me. >> caller: i'm going auto, they're not dependent on the u.s. to sign a new car sales, up 10%, but they made a smart acquisition last year of cooper tires, they're a replacement tire business was up 40% i'm talking about a company that's stock price is lowe

well, uber and doordash killing the gas assistance programs for delivery drivers.oth companies have rolled out programs in the spring to offset surging gas prices. uber plans to keep a guest surcharge live from the nasdaq market site. i'm jane king. back to you. >> very good. thank you, jane. >> 7.21. and coming up, new data from vaccine makers could help expand covid shots to more little children. why a local health expert says that is really good news. meet apartment 2a, 2b and 2c. 2a's monitoring his money with a simple text. like what you see abe? yes! 2b's covered with zero overdraft fees when he overdraws his account by fifty bucks or less. and 2c, well, she's not going to let a lost card get her stressed. am i right? that's right. that's because these neighbors all have chase. alerts that help check. tools that help protect. one bank that puts you in control. chase. make more of what's yours. trelegy for copd. ♪ birds flyin' high ♪ ♪ you know how i feel ♪ (coughing) ♪ breeze driftin' on by ♪ ♪ you know how i feel ♪ copd may have gotten you here, but you deci

i wonder if with people saying they're not going to eat out more or as much that means like doordash or grubhub are going to start feeling. >> the pressure as well. >> you would think so because they actually is pretty expensive to get food delivered. that would be another place. i would think you come back first resource may benefit. yeah. all right, jake, thank you very much. >> it's 7.20, right now and the white house says that president biden will continue to take his message of tackling inflation on the road. yesterday, the president was at a farm in illinois or while illinois, he was outlining his steps that he wants to take to fight. rising prices. our dc correspondent reshad hudson has more. >> good morning. for many americans, inflation continues to be their reality. president biden says his administration is taking aggressive steps to fix it. but republicans say the white house isn't moving fast enough. i stand here today. >> thank you. american farmers who are the or the breadbasket of democracy. >> while touring a family farm in illinois wednesday, president biden told fa

was so delighted when the cheeseburgers showed up, she thought he was playing games, but it was on doordash wow. and his mom, kelsey post this picture on social media saying 31 free cheeseburgers for mcdonald's. if anyone is interested to the this is the funnest games i've ever played. this is amazing and they show up in real time 5.35. is the time. we're going to take a quick break. when we come back. >> we'll talk more about that red flag warning to john's been talking about. winds are going to be up. temperatures are going to be on the warm side this week. self. there's plenty to be concerned about. will break it all down for you. plus, gas prices have gone up even more overnight across the bay area. and tell you what you're waking up to this morning. we'll have a live report and breaking news overnight. several people shot on 5.80, in oakland. the chp is investigating. we'll tell you what they know so far. we'll be right back. when big tobacco's products were found out to be killers, they promised smokers safety. they called it a filter. but this filter wasn't safe or useful, just small

year-old boy in texas recently ordered 31 cheeseburgers from mcdonald's through the delivery app doordashle playing with his mom's phone. to be fair, in texas, that's just one button. [ laughter ] and finally, the makers of hot pockets have unveiled a new line of cheese and cold cut sandwiches called deliwiches that can be eaten hot or cold, as opposed to hot pockets, which are always a mix of both and that was a monologue, everybody. [ cheers and applause we've got a great, great show for you tonight. [ cheers and applause he is an emmy-winning comedian, actor you know from "the office," "extras," and "afterlife." his new comedy special "supernature" is out next week on netflix he's always a fantastic conversation ricky gervais will be right there. [ cheers and applause you know her from "shameless" and "the phantom of the opera. her new show "angelyne" is out now on peacock emmy rossum will also be joining me [ cheers and applause and she delivered one of my favorite remote performances from last year and it's been really fun you know, during the pandemic we had a lot of great musicians

while playing with his mom's phone a 2-year-old boy ordered 31 cheeseburgers on the doordash app.n't think this is as good as the fact the youngest of the sean duffy brut she faced time at work this week multiple times but he kept talking to her in between my patients. so parents can't be warned these little toddlers to allow the phones. be careful giving them away. >> he was a big tipper. >> my kid knows how to order through amazon guys, trust me is a dangerous time in this household. >> alright, so let's look at the former mayor of new york city. build the blahs he is not giving up on politics yet he is running for congress. now here's a problem for him. jones decided sharon his we can jump into the race. so after he made his big announcement after failing new york and handing it off to eric adams he wanted to run for congress jones and the democrats went no we don't need you, goodbye. joe, we have seen what he has done. >> destroyed the greatest city in the world besides that collected him. i flopped for the biden administration for they are putting a pause is the cult of the d

doordash is down 6%, they were a pandemic winner. they are not keeping the momentum going?mistic in one sense and continue to order a lot on their app. they did raise four-year guidance for gross quarter value. they have a 57% market share. it's growing but for me i think this is a staffing issue not just the drivers for doordash that deliver you your order but the restaurants. if the kitchens can't fill all of the orders they might prioritize the people that are actually in their dining rooms and not do delivery because they can't handle it. stuart: okay, they have -- okay. peloton, all the way down to $16 a share. i believe they are looking for investors. lauren: they are. 15 and 20% in the company. they need capital, the stock is down 80% in the past 1 year. you would think that, yes, they need capital but that could serve as a vote of confidence in the business except it's not working like that. stuart: they were high-flying at the start of the lockdown. lauren: cannot justify expansion as we can go out and about again. stuart: then we have draftkings, sports betting pe

joining us is an analyst from needham, covers uber, lyft, a airbnb and doordash. bernie, how do you view this sell-off what are the conversations that you're having with some of the investors in these names which are getting clobbered? >> yeah, two things investors are focused on one, what companies are trading at reasonable valuations we can't look at revenue multiples anymore, we have to look at ebitda valuations you're getting growth at increasing valuation and profitability. stock is trading 20 times ebitda and less than 20 times free cash flow the other area is where there's upside to estimates and we feel good about the end markets, travel basically which way you cut it seems to be on fire and for the summer airbnb is one of the few companies that still trades with double digit revenue multiple. we prefer to play the travel theme through a local property manager, less loft evaluation and we see significant more upside. >> let's talk about uber and lyft because that's been a real painful spot in the market, especially lyft coming out of earnings it doesn't se

facing in 2020, when we started this big acceleration of e-commerce it's very real people's metrics, doordash did several years of progress in a few months and a lot of companies in e-commerce saw that. the one challenge is, that wasn't a very loose monetary environment, and it's very hard, no naert how much organic growth you have to face, both a difficult interest rate environment, and increasing inflation, that will eventually put downward pressure on consumer spending. so that's the challenge, is this entire market was priced, and, you know in 2020, under a different premise of loose monetary policy. and i think, the environment we're facing now, it could still go a lot lower so you've either -- if you're trying today trade, and if you're trying to call the bottom market, that's notoriously difficult, if you have a long-term view, you can build a case around a few specific companies. if you have a reason to think they've got a defensible long-term mote that will give them advantage and we can get into specific companies if that's he helpful. >> mike, you can have a long-term view but you