back to gm, it's not a hertz story. underline that. >> you are in gm as well. >> the dow is still going. >>> still ahead, amazon is on fire, you are probably rolling in the dough from amazon. we will tell you how to get profits for free. in the meantime, here's what else is coming up on "fast." ♪ i'm on the boat ♪ i'm on the boat ♪ everybody looking good, i'm sailing on the boat ♪ >> and you are not alone. from a surprising development, millennials can't get enough of avocados and boats. we'll tell you how to cash in. plus ♪ it's the zone, baby >> there is something in the charts that says now is the time to buy. we'll tell you what that is when "fast money" returns. ♪ it's not just a car, it's your daily treat. ♪ go ahead, spoil yourself. the es and es hybrid. experience amazing. this clean was like pow! everything well? my teeth are glowing. they are so white. step 1 cleans. step 2 whitens. crest [hd]. 6x cleaning*, 6x whitening*á i would switch to crest [hd] over what i was using before. >> welcome back to "fast mone

. >>> and pain for hertz. we'll tell you why shares of the car rental firm are taking a hit this morning. it's tuesday may 9, 2017. "worldwide exchange" begins right now. ♪ >>> good morning. welcome to "worldwide exchange" on cnbc. i'm sara eisen. >> good morning. i'm mike santoli today in for wilfred frost. >> let's get to the markets. glad to have you today. >> a lot going on. >> u.s. equity futures after a record close did not take much yesterday, but the s&p and nasdaq finished at record levels. dow futures are looking up more than 10 points this early morning. s&p futures up a half point. nasdaq futures up almost 2. as for the ten-year treasury note yield. yields ticked a bit higher that boosted the dollar a bit. still we're hovering below 2.40 on the ten-year. i guess that's an improvement from the 2.30 level from last week. >> it's grinding slowly higher like the equity markets. asian equities overnight, generally a mixed picture. we have the markets in south korea closed as they elect a new president.

let's start off with hertz here.the crossroads in terms of secular trends in the industry between falling used car prices and the rise of uber. >> it's a death knell. it's not going away, in my opinion, anytime soon. b.k. has been on this for quite some time. i don't know what turns the stock around other than at some point somebody coming in and saying, valuation is just too cheap. but guess what, valuation is going to get a lot cheaper, i think. >> it could. carl cannot get out of it on 35% of it. look at the other stuff that carl ikahn owns. he is actually catching the upside. it doesn't look good here for him. >> wake me up at zero, that's exactly what's going on in the sector. hertz has been in trouble for four years. it will ultimately get back to a balance sheet issue. now it's too early to do anything. >> i do love marriott. i think marriott is doing an incredible job of growing their business, they're doing it correctly. millennials are spending more money on travel than ever. i would bet on marriott on the

the die nile continues toss the river that runs through hertz.ease is like, many, i've got to get into hertz. no, no, don't. it's bad. >> no, just -- it's not like it had a good year last year or the year prior to that. >> where were they are on the other side of that? >> they are fearful. all that risk adjustment. we should have a placesancy hedge fund index. they're so short. what do you think of that? >> you work on that. >> i'll work on it. >>> we'll have cramer's mad dash. more "squawk on the street" in a moment. moment. it's all yours. wow! record time. ♪ at cognizant, we're helping today's leading life sciences companies go beyond developing prescriptions to offering subscriptions with personalized, real-time advice for life-long, healthy living. honey? you almost done? nope. ♪ get ready, because we're helping leading companies lead with digital. >>> sort of failed hedge fund investments, which leads us to today's mad dash, actually good news for valuant? >> this is a bill ackman name. >> was. >> i should switch the transitional verbal the

interested in hertz. panel, michael santolli, louis with us, and citi private global chief investment strategist, and, one bill griffeth sticking around here as well. michael, first of all, i want your thoughts on this market on a day where i know the indexes are quiet, but it was a big day for apple in particular. >> it was. a big day for apple. the other very large, you know, big stocks in the nasdaq 100 like amazon and facebook, participated in the upside, but it was a good actual ill lugs strags of the rule that apple is not a broad market bell weather. it does its own thing, captiv e captivated by the positive buffett comments, but market as a whole, i feel it's hovering near the highs in the absence of a known short term cat list, this market just hangs in there. there's a broad degree of km comfort, but there's not high conviction it goes violently in one direction or the other. there you have it. big round numbers talked about on friday. >> speaking of which, louis, quietly, another new all-time h

for hertz.hares are down 12%. big earnings miss. it seems like, phil, they are at the cross section of uber and falling used vehicle prices. >> reporter: the used vehicle prices is what's hitting them now and they admit they shot themselves in the foot by loading up on too many cars and sedans. it doesn't take a rocket scientist to figure out those are not in demand. it's suvs and crossovers. you combine that with low values and the airline is getting hit hard. what's concerning people on wall street and, in fact, you're hearing it from a number of analysts, is this as bad as it gets for hertz? morgan stanley out saying we wish we could say that the first quarter of '17 was truly a kitchen sink quarter but we just can't say that with any confidence. some metrics suggest we haven't yet seen the worst. that is not a good sign for the rental car stocks which have been under pressure for all the reasons you mentioned. >> and, phil, i know you can't see it because you're out there in denver, but this

i mean, pivot to hertz there.his is another example of incredible softness in the used car market right now, isn't it? >> the used car market is soft, and hertz admitted they shot themselves in the foot loading up on too many cars and sedans in a time people say, if i'm representing a car, i want a crossover or suv so you're not getting as much use from the cars. compounding that problem is this drop in used car prices, so that when they start to sell these, they are not getting as much money as they expected. this is an industry, the rental car industry that's feeling a lot of pressure, not just from the ride share companies like uber and lift, but also from other people saying, how are you using your capital? how often are the vehicles rented? how much are they out on the road? for a lot of investors, they look at this saying, i'm not comfortable with where this industry's headed. >> that's for sure. i don't know what mitigates it, too, phil. that's why -- it was surprising to see how big the share response was.

it was behind hertz and not afraid to admit. that they went from a money lose tore profitable overnight and came close to overtaking hertz. i thought of this battle as a notice a marketing push from lyft, it is the second largest ride sharing company behind uber but uber has a reputation as a bully. a company of tech pros. watch this commercial from lyft. the guys in gray are from uber, even if the ad doesn't admit it. >> miami, chicago, seattle, look at them in seattle. why are all of the lyft drivers so happy. >> because they let passengers [ inaudible ]. >> it is gross. >> i heard them paid over $100 million in tips to their drivers. >> why would they do that? >> they use the extra money to g buy gifts for their family. [ laughter ] >> second place lyft is positioning itself as the good guys, the company you could trust. the company you could trust to take your dear grandmother to her hair appointment. in fact, lyft is doing just that. partners with senior citizens and other support groups to provide rides to the elderly. and

the hertz stock price is down over 30% this year.oday alone down 13%. >>> up next, maybe you would rather buy a used car instead of renting or using uber. jeff flock in chicago with a warning that could save people's lives, right? >> reporter: true or false, connell? you can buy a used car from a reputable dealership advertised as safe and fully inspected while it still has unrepaired safety recall problem. true or false? connell: i'm hoping false. >> fox business investigation. we'll have it for you, in a minute. . . ♪ connell: we have numbers for you. we'll start with 52 million. automakers recalled over 52 million vehicles last year. research from carfax found more and more people are ignoring the recalls. thanks to a loophole in the last highway bill, more car dealers are selling these vehicles with unrepaired safety problems. they still sell them. jeff flock live in chicago to tell us more about a loophole obviously potentially very dangerous. jeff? >> called the used car loophole, connell and you're right it, was the last highw

we do have some losers including hertz.apple. it hit an all-time high. the market valuation now above $800 billion. with me now, new york times best selling author of american mojo: lost and found, peter kiernan. will they going to hit by christmas? >> i think it will be. i like apple, i'll tell you why. when people look at the tech stocks, they love to say this is a bubble. they freak out. if you look at the market multiple of 22, apple's only trading at 18 times. it'sen an earnings juggernaut. charles: i compare it to the nifty fifty in the '60s. they were big names, they dominated industry, they had no real rivals, and by the time they exploded which was january 1973, they had pe ratios in the 50s and 60s,ing and it was clear. but to your point, the earnings for these companies are starting to catch up to the hype. >> apple is earning 35 cents on every dollar they invest. there are very few places anywhere in our economy you can get that kind of return. and they're doing it reliably, and they're sitting on mountains of c

--el senador ''robert hertz- berg'' quien propus la medida, dice que las multas de trfico en el estado son muy altas e inasequibles para las familias de bajos ingresos... --esto ha generado una deuda de 10 mil millones de dlares en multas pendientes de pago... cesar ---volvio a ocurrir!. ---un nuevo tiroteo de carro a carro se dio en una autopista del area de la bahia, pero en una zona diferente. lorena ---esta vez fue en hayward. y pilar niÑo desde la oficina de la patrulla de caminos..... take boxes --nos cuenta qu indicios hay de lo que pas..... take pilar lot :01 :08 :23 :38 01:23 01:50 01:56 lot 22:07 gracias aunque esta investigacion apenas empieza lo que ya saben las autoridades es que esto se trato de pandillas 22;13 este es el momento en que las autoridades auxiliaban a las victimas del tiroteo para transportarlas al hospital.. ellos iban en esta toyota tacoma por la autopista 880 hacia las 9 de anoche... al buscar la salida por la avenida winton.... arturo montiel/vocero patrulla de caminos. 17:36 al ir saliendo se le acerco otro vehiculo por un lado y les empezo a disparar 1

meantime, hertz saw its loss widen in the latest quarter, sharply missing analyst expectations. revenue lower than expected. the despite the disappointing results, the car rental company said it is seeing progress in the turn-around efforts. shares fell after hours and ended the regular day down at $14.91. >>> a drug to treat muscular distrophy faced backlash when the price tag was set at nearly $90,000. today the medicine has a new owner, and a new list price. meg turrell has the details. >> christine is used to a fight. her son was diagnosed at age 5 with du shen muscular distrophy, a condition that put him in a while chair just before he turned 14. one thing she didn't have to plan to fight for is an access to an older drug her son was using. he's been taking it since 8 years old. it wasn't approved in the u.s. so she and a number of other families imported the drug from overseas. it cost about $1,200 a year out of pocket. it got a new price tag, $35,000 a year for a patient in the u.s. weighing about 55 pounds. >> $35,000 per 25 kilograms, it's pretty aggressive i would thin

. >>> and pain for hertz. the stock is getting slammed after posting a bigger than expected hertz. it's tuesday, may the, 2017, "squawk box" begins right now. >>> live from new york where business never sleeps, this is "squawk box." >>> good morning. welcome to "squawk box" right here on cnbc live at the nasdaq market site in times square. i'm andrew ross sorkin along with joe kernen and melissa lee hanging out with us today. becky quick has the day off. take a look at u.s. equity futures. dow opens up higher, about 19 points higher. nasdaq up as well. 4 points higher. s&p 500 about a point and a half. this is whis the highest since 1st. is that what the date was? the fear gauge hitting the lowest level in more than two decades. the volatility index closing yesterday at 9.77, the lowest level since december of 1993. >> i can't imagine that's not a place where you would buy. though normal stocks that hit new lows what do they do? hit more new lows. stocks that hit new highs, hit more new highs. it can only go $9 more lower. >> yeah. >> >> this only happened five times ever. >> havin

hurts always a big -- hertz always a big focus. can snap rebound from their fall? go into the bloomberg, #8544, these stocks, retail stocks, the number of closures have exploded. it is up to 97%, and you are seeing that reflected in the brick-and-mortar companies falling victim to the online again. that is the trends of that industry in terms of earnings and stocks performance in the weeks ahead. haidi: thank you so much for that. let's get to what we should be watching in asia. adam is here with us. we have stocks from oil and the new south korean president celebration. are we seeing more volatility in asia? the u.s. stock is normal. adam: we have seen strength in the den-dollar. -- yen dollar. we did see a move in the u.s. bond market, so we expect to see more of that follow through with australia. they are also saying they are trying to assess the severity of the missile test from north korea. is it a misunderstanding or disagreement about this new kind of missile, certainly weighing on that. equity investors are looking for a reason to celebrate, say we have pu

and that the family of the -- but a big company, like hertz, you know, budget, they're good at this, right. and so the family of the future, i think, if you think of a combination of a driverless vehicle, an electric vehicle, and uber, right, you'll just pay a monthly fee and you'll hit your app and you'll say i want to go to work and i'll be in my driveway at 7:00 apple and a car that might have some other people in it it will be an electric vehicle will come to your house rg you'll do work, you'll be connected through the internet in that vehicle, it will take to you work, it will drop everybody else roughly in the same place to the city, everybody will get out, the thing will go recharge. so i'm not opt toe mystic about public transportation changing fundamentally, i think it's going to change through a technological revolution that we are already seeing in transportation that is almost mind boggling. and i think if you combine those, maybe some of the business people here can think about the business model for that, but would you have like a monthly fee that would be standard, lu

jim, my question is how far are we going to let hertz die before we buy it? >> rita?caller: hi, jim, i have some general motor stock that i purchased back in 2010, i'm mainly keeping it for the dividends now offered. i want your opinion. >> i think that is right, that is exactly why you keep it. i have to tell you if you listen to the nvidia car, everything is going against it right now, got to listen to the nvidia caller to really get your head on this issue. let's go to richard in california? >> caller: booyah! jim, thank you for taking my call. my question is on pandora, how do you keep the future of the company shaping up after the latest equity and investment circulating over the next couple of days? >> let's go to illinois. >> caller: hi, booyah! jim, big fan here, are you? >> caller: my question is about verizon, should i be long on this -- >> 5%, they have a lot of cash flow, i have confidence they will figure out how to get their mojo back, boy, they're missing mojo, let's go to virginia. >> caller: big booyah! from virginia, thank you, jim, all the help all

. >> it's quickly, bk talked about this, a four-year low today, hertz is in a some sort of a death spirali hate using that term. until stocks at least find a flat ground or bounce, the auto companies can't afford the head winds. this is just noise. they are much larger than what we are talking about. >> you tack about 50 cents higher. which means the stock, can it go to 3150? which is some distance from here. what we don't hear anybody talking about is ford and xm. we started to have this conversation on friday or monday. about transportation as a service or their ability to disrupt the sector, themself, gm has this mamp they claim is going randly. all these places where they get involved in ride share. do you believe them? should they be involved in this business? absolutely. >> until we see some traction there, i think the number also are garbage, them coming out defending it vigorously, that's very important in my eyes. >> we talk about it constantly. >> at times i've taken my eyes off the ball. i thank them tore that all the time. >> so right. this is an industry we know is being disr

. >>> and pain for hertz.you why shares of the car rental firm are taking a hit this morning. it's tuesday may 9, 2017. "worldwide exchange" begins right now. ♪ >>> good morning. welcome to "worldwide exchange" on cnbc.

right now the white house is saying once again they are just a few hertz chaya of passing health careegislation in the house. saying ago mark upton his amendment that would include an $8 billion fund for pre-existing conditions over , that money will be enough for him in order to get on board. now the with count is just a few votes shy. vonnie: we are going to go live to the white house and this joint press conference. thank you very much. today i'm pleased to welcome president abbas to the white house for his first visit to washington in quite a while. it was onyears ago these grounds that president abbas stood with a courageous peacemaker. then israeli prime minister yet yitzakh rabin. abbas signed a declaration of principles which laid the foundation for peace between the israelis and palestinians. the president and mr. president, you signed your name to the first israeli-palestinian peace agreement. you remember that well. right? and i want to support you in being the palestinian leader who signs his name to the final and most important peace agreement that brings safety, stabilit

of alcohol, tobacco and i will legal dr president of pro-life group assistsing the family believes hertz academy is trying to make a public example of made. >> in prince george county many gathered for a moment of renrerks today at the university of maryland. it was honor of second lieu ten ebt richard collins the third stabbed to death on campus over the weekend. university says "it stands in solidarity with family, friends and bowie state university community. he was supposed to graduate from bowie state yesterday and instead the university honored him by draping a gown over empty chair in front row and collins family and friends accepted his degree in his honor. >>> the campus murder which investigators say may be a hate crime is igniting conversation about race ixing at the university. students are using the school slogan, feert turtle, as # to call attention to the story and the university black student union created this pi tition calling on administrati consequences for hate speech. tonight, university president wallace lopez-rivas announced list of efforts to combat hate on campu

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this hour we are told that 19 people are dead, at least 50-hertz, although 59 59 pick t to local hospitals. most of the victims we believe our children and their parents, who were out for an evening of fun, the terror and resulting chaos captured in heartrending videos as rescuers began racing to the scene. we saw ambulances all night long. they came in they went. we did not in the early hours see people on stretchers being taken out. it was odd because everybody inside the arena could hear the explosion, but nobody saw it, nobody sighed. we know it's not until later on the explosion happened outside the arena. it happened in front of the box office between the victoria train station as well as the arena. that is where it happened. we believe 19 people were killed, as i said, 59 injured. this was said to be a night of music, a native festivities. it became a metaphor. let's get lied not to katie logan, she is with us in london. what is the latest from where you are? >> from what we are hearing, they are treating this as a possible terrorist attack, as you mentioned. 19 people killed, at le

. -- hertz. disappointing earnings. came back but not by a whole lot. spending a lot for turn around problems. competition with the likes of uber and ride-sharing services hurting rental car industry. back to you. david: thank you very much. melissa. melissa: oil closing down a percent, back below 4dollars a barrel after the government report raised forecast for u.s. oil production this year and next. gold settling at two-month low, stronger dollar, growing expectations that the fed will hike interest rates. david: gold down you but bitcoin way up. >>> speaker of the house, paul ryan continuing to paint optimistic picture of tax reform. >> will it get done this year? >> are you and president on the same page as far as the principles? >> absolutely. we totally agree on this. david: that's good. gary kaltbaum, kaltbaum capital management, fox news contributor, kevin kelly recon capital partners. on one hand paul ryan singing optimistic tune. on other hand we heard from wilbur ross, no way we get to 3% growth this year, who do you believe? >> if the tax cu

also on the transportation fund, we are looking at hertz, the car rental company.n trying to change its strategy, updated its car fleet, but they are having to at depressedcars prices and investors are not happy about the results they just showed. julia: thanks, julie. fiscal: disney reports second-quarter earnings after the bell and this is the familiar question of whether a dynamic theme park and movie business can offset prices. paul sweeney joins us from bloomberg intelligence or we will get to espn in a moment, but there has been a hall cast over the big media companies because of what time warner said earlier this month when it reported a 2% drop in cable advertising revenue. there seems to be a slowdown in ad growth. paul: media stocks have been under pressure the last two and a half weeks, and there are concerns -- one is advertising -- we have seen weaker than expected advertising and the first quarter. a lot of copies are expecting it to improve in the second quarter. advertisers are concerned about that. the second is paid tv subscribers -- very weak. th

hertz, budget, afis, that's competition. having only one airline that flies one straight shot out of all the airlines, that's not competition. please explain to. >> he congressman hunter, speaking for southwest airlines i can assure you the competition level that will we're experiencing right now which is defined basically in a couple of ways, how many of our routes are overlapped by other carriers where we have competition and we look at where the we were overlapped by the ultra low cost carriers, the front tears, spirits, it has never been higher and it's climbing at a rate every single year that's a higher rate than the year before. so we've never had mr. competition in our history and the best measure is probably fares, because fares are ultimately tied to competition. and they were down in the fourth quarter of 20163% from 15 and they are down 6% from 2014, so fares have continued to fall. our average fare today is $152 which inflation adjusted is below a decade ago. >> you wouldn't describe competition as options? >> a

also, if you watch what we'll have on the floor today, will hertz, modernizing government.llion a year on i.t. in government. 80% of that is legacy programs. if we modernize government we will create a more efficient, effective and accountable government for all americans. those are just some of the items that you will see pass the floor this week. >> i applaud chairman brady in his effort to start the process of tax reform so we can actually lower rates for families to put more money back in the pockets of hard working families who know that our taxes are too high already and want to get our economy moving again and get growth and bring those companies that have left america back to our country so we can grow our economy here. i think it's important that this week we are recognizing police officers week. you know in louisiana last week we lost 10 officers in the line of duty. and three of those were officers who were killed in baton rouge in one day in july of last year, one officer still battling from that tragic day, is a sheriff's deputy. i went and visited with nick an

hertz, budget, avis, that's competition. having one airline that flies one straight shot out of the airlines, that's not competition. please explain it to me. >> congressman, speaking for southwest airlines, i can assure you that the competition level which we're experiencing right now which is defined basically in a couple of ways, how many of our routes are overlapped where we have competition. briefly, we look at where we're overlapped by the ultra low-cost carriers. the frontiers, the spirits. it's never been higher. and climbing at a higher rate than ever before. so, we have never had more competition in our history. and our best measure is possible fares, because fares are ultimately tied. they're down in the first quarter. 3% from '15. the average fare is $152 which inflation adjusted was below a decade ago. >> you wouldn't describe competition as options? >> again, i would describe it as where we are overlapped with other carriers. where we do have competition. of course, you're going to have routes where there are v

first, we are looking at hertz down about 15%. the company missed top and bottom line estimates.own 1.4% me, year over year at $1.4 billion. prices fell, there is an unfavorable mix. that is dragging on avis, as well. there is a high, bearish short interest of about 40%. walgreens and right aid said they did comply with a second information request. now, there is too much to decide on whether to approve the deal between these two companies or block it. this has been ongoing since october 2015. are down rite-aid about 20% since that deal was announced. finally, looking at two pharmaceutical companies trading higher. endointernational -- international and allergan, they are looking at this pharmaceutical company down and then allergan looks like the m&a strategy is paying off. their shares are up. jonathan: the opening bell is about 28 minutes away. summarized by the front page of most newspapers, the vix decreasing nearly 8%, while the s&p 500 finished onterday's session unchanged a record joining us is steven wieting. he joins us from his office in new york. talk to me about thos