. >>> welcome back the debt ceil g debate is impacting stocks morgan brennan is here with that welcomes and amid this debt ceiling drama, government contracts have felt the impact they're down this week most of them are down today, and names like lockheed martin, general ny dammicynamics are dog in general this is amid all of this d.c. decision-making uncertainty. by far it's the biggest category of discretionary spending, roughly more than $800 billion in 2023 is what's expected to be spent, if a default were realized, government contractors would feel it swiftly and deeply, but feven if that doesnt happen, and many believe it won't, the fear is broader cuts. you see the military getting cuts and that means a resolution which inflates program costs and production increases it's disruptive to military modern modernization, and to the companies from awarded contracts. this is why you're seeing these names under pressure right now >> all the defense primes. morgan brennan, thank you very much. >>> still ahead, some news on a meha veolegends, an iconicid ga tt got consumers lining up arou

i'm morgan brennan with john fortt., chegg and many more >> plus, we're going to talk to the ceo of e.

morgan brennan joins uss n now answer. >> i have the answer. okay, well, peloton is offering new membebership t tiers in a a effofort to briring inn more subscribers. the fitness company's app will feature three new options including a free program. ownersrs will stitill n need th tierer all access membersrship h is $44 a a month. the football team in our nation's capital meantime, may have to change its name soon after a decision from the u.s. patent and trademark office. the office denied the trademark application for commanders as there is an already existing trademark for a related name, the team can fight the ruling but it is unclear if new owners even want to keep the commanders' name. >>> and a store in japan is selling the most expensive ice cream. a bowl of the frozen dessert called white knight will set you back, brace for it, nearly $6400. we're talking about four-figure ice cream made with truffles, cheese, topped with gold leaf. >> gold leaf. >> wait, did you say truffles and cheese? >> white truffle. >> where have we heard this be

. >>> apple, that's the score card on wall street i'm john fortt with morgan brennan.ngs season we're counting down to 30 minutes. >> we'll have expert annual cyst and our reporters standing by to bring you earnings from lyft, coin base, expedia and more. >> we'll bring you an interview with the

i'm john fortt with morgan brennan and the deadline for 13-f filings is just over an hour away.ou the details as soon as they're reported. >>> the ceo of the mortgage bankers association is here. >>> let's get to today's applications we have tony

i'll send it to "overtime" with morgan brennan >>> that's the score card on wall street.ell overtime." john fortt is off today. we'll talk to rohit chopra about the latest turmoil in america's banking system as regionals tumble plus, katherine boyle will join us to discuss the

i'm jon fortt with morgan brennan. tensions wrap up with the u.s.urity riff snook plus, we're awaiting earning results from zoom video. the poster child of pandemic stock gainers still down sharply, but it has gained momentum in the past few weeks

. >>> the score card on wall street, winners stay late here you are i'm jon fortt with morgan brennan on today's show we get a read on chips and the consumer when mplied materials and raw stores report earnings we'll bring you the numbers and analysis. >> we'll speak to the ceo of betterment, with more than $45 million under management about her read on the stability of the baking system and impact on betterment's business. >>> let's get straight to

i'm morgan brennan with jon fortt.umbrella. we'll bring you those as soon as they cross. >> and we'll talk to fed vice chair roger ferguson on the odds of a june hike, as they go up,

i'm jon fortt with morgan brennan.ing news as we await the latest bank balance sheet from the fed. we'll bring that to you as soon as it crosses. >> plus, we're on debt ceiling deal watch as we head into the holiday weekend and inch ever closer to janet yellen's june 1st dead palline we call it an x date

. >> okay, morgan brennan joins us with cnbc's "money minute." hey, morgan >> that's right. so, of course, my computer just went down. tesla is recalling nearly every vehicle it sold in china to fix a braking issue. the ev-maker will deploy updates to 1 million cars to provide notification to drivers. it is unclear if it was sold outside of mainland china and subject to the same recall. >>> meantime, imagine an ai-powered linkedin on steroids. goldman sachs has seen that. this new company will be an ai-powered networking place and funded by goldman for over two years. >>> and former nfl quarterback tom brady is looking to become a part owner of the las vegas raiders. this is according to espn. the brady and the team have been in discussions for weeks and comes after brady's purchase of the aces which is owned by mark davis. guy, maybe retiring from the field but maybe not from the game. we'll have to see. >> yeah, on the business side. >> he has the whole pickleball empire. >> i forgot about that. >> he has the pickleball empire. what he doesn't have anymore is the cryptocur

morgan brennan joins us now with cnbc's "money minute." hi, morgan. >> hi. amazon is considering to push forward in ai technology. the e-commerce giant looking to add a chatgpt style search to its online store. it has already listed job postings with these ambitions. it rifles microsoft's efforts to infuse searches with ai. >>> recalling nearly 220,000 jeep cherokees because they could catch on fire even when engines are off and aat thes power lift gates on certain cherokees from 2014 to 2016 models and warns the suvs shoulding parked out --s until it can figure out a fix. the carmaker says it is not aware of any injuries. >>> and taco bell is fighting to quote, unquote liberate the taco tuesday trademark filing a position with the patent trademark to cancel it owned by taco john's, been owned by them for 34 years. since they own it others must seek permission to use "taco tuesday" in branding and advertising and, of course, guys, we're getting this news on what else, a tuesday. >> so it's like trademarked? >> yes. >> taco tuesday. >> ask for permission to u

. >> morgan brennan joins us with cnbc's "money minute." hi, morgan. >> reporter: hi. yourening ache tiff google account may go away as soon as the company looks to provide security threats. they said it will start deleting they accounts that have not been used or signed into for at least two years and it will begin in december. a few months to figure it out. deleted accounts will also lose their access to google docs, photos, even youtube. >>> elon musk meanwhile said the company will begin running advertisements for the first time. musk was asked during tesla's annual shareholder meeting and said the electric vehiclemaker may try a little advertising and then in an interview with cnbc after the meeting, he said he was unsure what the ads would look like but something he is willing to pursue. >>> and kraft heinz is unveiling a sauce dispenser with 200 condiment combos and will live in restaurants and give customers the ability to make a customized sauce with whatever spice or sweetness level they want. think mango ketchup or jalapeno ranch or i don't know if you're fa

. >> morgan brennan joins us now with today's cnbc money minute. hey, morgan. >> hi, kate and vicky. netflix wants to find ways to save money and cut $300 million. the streaming giant has pushed back its crackdown on password sharing, but staffers have been told layoffs aren't coming, but they need to be more strict with spending especially related to hiring. >>> "the philadelphia inquirer" was unable to print its sunday paper due to a cyberattack. they're working to restore operations after the intrusion, and there was no timeline for full printing restoration. the paper contacted the fbi to investigate. >>> and a new company, telly wants to give away millions of televisions. the company was founded by someone who wants to bring free content. the tvs will come for free, but viewers will be subject to a second screen showing constant advertisements that are specifically tailored to them. so guys, free tvs, but the tradeoff here, you got to give away some of your data, and you got to pay attention or at least have these ads streaming basically all th

. >> morgan brennan joins us now with today's cnbc "money minute." hi, morgan. >> hi there. disney announcing it is no longer moving forward to build a new florida campus amid the ongoing feud with the state's governor, ron desantis. the entertainment giant also announcing it will no longer be requiring 2,000 california-based employees to relocate to florida. the chairman of disney's parks division said, quote, changing business conditions are leading to this decision. >>> walgreens meantime, has reached a settlement with the city of san francisco over the company's role in the opioid epidemic. they will pay nearly $230 million over 14 years after a judge found walgreens liable for contributing to the epidemic. the settlement funds will go toward addressing the opioid crisis in the city. >>> chick-fil-a's first ever restaurant is closing after more than 50 years. the location in an atlanta mall shutting down but the company did not say why. the fast food chain has over 2600 restaurants across the country. guys, when this store opened up in 1967, you could get a chicken sandw

ceo will be on "overtime" tonight i'll interview him along with morgan brennan not only about their guidance but ambition and partnerships with microsoft, google and ibm shares of s.a.p. almost a percent and a half higher after guidance for fiscal year 2025 at their annual conference. back over to you >> frank, thank you. that's frank holland with the update for us there. let's use that as an opportunity to pivot to a move of yours before we take our break. >> sure. >> not related to ai in any way -- >> like the opposite >> not related to tech >> like the opposite >> johnson a& johnson. >> they finally spun out the consumer business, they're a simpler company. we can focus on pharmaceuticals. with a huge pipeline and they have a goal to grow total revenues of $57 billion by 2025. they also have a med tech business and are seeing volumes increase and procedures and so i just think it's underappreciated, down 10% on the year, it trades at 14 1/2 times forward estimates. a little bit of a dividend yield. we still have the talc resolution ahead of us so it's a small posiscott. if they don't have

i'm carl quintanilla with morgan brennan. setting the agenda, you can get, regional banks, pacwest, and others tanking the ceo of first horizon is going to join us this hour as its merger collapses. >>> plus, a trio of earnings ceos ahead nat gas, hyatt off its best quarter ever, and the commercial real estate crisis with jll. >>> later on, what to expect from apple tonight and the public debut today that could spark the return of ipos. >>> markets are deep in the red right now with the dow going negative for the year. the s&p right now is at 4059 you have nearly every sector in the red. s can see, the nasdaq is down 0.50% as well. >> let's focus on the regionals, the kre reaching the lowest levels since halloween of 2020 pacwest says it could be exploring strategic options. western alliance is pending, there are reports swirling its looking for strategic options but bloomberg saying that is not the case former fdic williams joined us last hour and talked about the need for confidence in the system right now >> if we can stop

morgan brennan joins us with more. holmes was one of silicon valley's biggest success stories until she wasn't. it wasn't really, it would be an understatement to say that it was a fall from grace. what now? >>. >> right now, you have 135-month sentence. just over 11 years. with elizabeth holmes reporting to prison in texas just a short while ago for a blood testing scam. this is a very dramatic u turn from fame to enphamy in a year's long saga that chronicles the rise and fall of one of silicon valley's most high profile start ups run by one of the most high profile entrepreneurs. she was found guilty of defrauding investors, not patients. she founded and ran thernos. she sought to revolutionize the blood testing industry and at is peak, thernos was valued at $9 billion. one of the most valuable venture start ups at the time. she was worth about $4.5 billion. an investor list that included some of the biggest, richest moguls. the walton family, heirs of walmart. rupert murdoch, betsy devoss. jim mattis. all began to u

. >> morgan brennan joins us more. hi, morgan. >> hi. state farm will stop accepting new homeowners insurance applications in california. the company cited rapidly growing catastrophe risks like wildfires, quote, historic increases in construction costs and challenging reinsurance market. >>> tesla shares on the rise after elon musk met with china's foreign minister and signaled further expansion in that country. a statement from the chinese foreign ministry said tesla opposes decoupling and is willing to continue its work in china. this comes amid, of course, continued tensions between china and the u.s. over technology. >>> and disney's "little mermaid" won the weekend box office, the fifth biggest domestic memorial day opening in history. the live action remake took home $118 million across the u.s. however, the film hasn't turned a profit yet as it cost disney nearly $250 million to make. but, guys, a strong start and just to put this in perspective, two other animated remakes or i should say live action remakes of animated disney cl

morgan brennan is off today. breaking news this hour.ial meeting with congressional leaders, including house speaker kevin mccarthy on the debt ceiling that meeting slated to kick off right now. we'll bring you any updates throughout the show as get them. plus, we've got after hours action coming your way with earnings results from affirm, airbnb, rivian, wynn, and more

i'm morgan brennan along with jon fortt who is in las vegas today. pair of big elevents. >> yeah. tesla's annual shareholder meeting is about to kick off, and president biden's meeting with congressional leaders at the white house could wrap this hour we will bring you all the breaking news from tesla and from washington as it happens. >> let's get into today'

i'm morgan brennan with jon jonjon jon fortt.>> and we're awaiting the latest data on bank balance sheets from the fed. yes, which comes after another wild week for th

>> morgan brennan joins us with cnbc's "money minute." >> well, i have the scoop, guys. okay, for the first time uber is lifting age restrictions to allow some minors to take unaccompanied rides. teens aged 13 to 17 can sign up for their own uber accounts but it must be linked to a parent or guardian's account. uber drivers will be able to opt out of the program if they wish. >>> jeff bezos' blue origin won a key nasa contract worth billions of dollars. the billionaire's space company will have a goal of delivering astronauts to the surface of the moon and his company expected to foot more than half the bill. two companies are teaming up to bring consumers a brand-new frozen treat. dr. pepper is teaming up with blue bell creameries to create a dr. pepper float ice cream, the flavor with vanilla ice cream and dr. pepper flavored sherbet will be available at stores where blue bell is sold. so two texas brands coming together for a new experiment here. >> truly an experiment, i'll say that. i hope they have a dairy-free version. >> i'll try anything. i think maybe the vanil

. >> morgan brennan joins us with today's cnbc's "money minute." >> well, jpmorgan is laying off a thousand employees of defunct lender first republic bank. they took over the failed regional bank a few months ago and offered new roles to nearly all of the 7,000 first republic employees. now the employees who are not part of the transition have been notified that they will be let go. >>> "the wall street journal" meantime, is revealing that a record-breaking $279 million whistle-blower reward stemmed from a bribery case against telecommunications company ericsson. the s.e.c. didn't identify the tipster or how the information may have been used in enforcement prosecution. >>> ford and tesla have agreed to a partnership giving ford owners access to tesla's nationwide charging infrastructure. under the agreement announced by ford ceo's jim farley and tesla's ceo elon musk on thursday on twitter, current ford owners will be granted access to more than 12,000 tesla superchargers across the u.s. and canada starting early next year and, guys, that news supercharging the stocks, as well. both of th

i'm morgan brennan with jon fortt.s on retail, housing and more from toll brothers, urban outfitters and palo alto networks, and also intuit >> we've got an exclusive interview as well with

i'm morgan brennan with jon fortt., michael hsu joins us to talk about the latest drama in regional banks as janet yellen reportedly raises a red flag about the potential need for mergers. >> and we talk to sal khan about how artificial intelligence is changing the game for market companies. >> markets trading lower

. >> morgan brennan joins us with the cnbc money minute. >> hi.ney is reportedly announcing another round of layoffs this week with more than 2,500 staffers expected to lose their job, that's according to multiple reports. it's not clear which departments will be affected or when employees will be notified. but this would be disney's third major round of job cuts this year and part of bob iger's efforts to eliminate a total of 7,000 jobs. comcast is offering a new streaming service that bundles popular tv networks and peacock the new service now tv, will be $20 a month and added to any smart device like a fire tv. it comes with 60 channels. and krispy kreme is showing love to the class of 2023. a free original dozen donuts to any grad who wears something signifying they're graduating. this is the fourth year of the promotion and this year the treats come with a dough-ploma. >> i love puns. i have to get my cap and gown. >> my toddler is graduating from preschool. does that count? >> did you say tomorrow? i have a graduate. >> we can take a field t

morgan brennan, thank you. >>> coming up, how thousands of french protesters are ramping up french protesters are ramping up pressure othe government ovn er my active psoriatic arthriris can make me feel likike i'm m losing my y rhythm. wiwith skyrizizi to treat t myn and joinints, i'i'm getting g into my grgro. ♪(upliftiting music))♪ alonong with sigignificantly clearer r skin... skyryrizi helps s me move with lesess joint papain, stiffnfness, swswelling, anand fatigue.. and is jusust 4 doses a year,, after r 2 starter r doses. skyrizi atattaches too and d reduces a a source off excess i inflammatioion ththat can leaead to skinn and joinint symptomsms. with s skyrizi 90% clearerer skin and lessss joint pain are e possible. seserious allelergic reactcs anand an increread ririsk of infefectis oror a lower abability to f fight themm may ococcur. tell y your doctoror if you he an i infection o or symptoms, had a a vaccine, o or plan t. thanks to o skyrizi, there'ss noththing like clearer r skin anand better m movement. anand that meaeans everythth. ♪nothining is everyrything♪ now's ththe time to

morgan brennan joins us with that and other money minute headlines. >> shopify is cutting about 20% of workforce. the company made the announcement in a blog post, the second big round of layoffs xroiing online sales services to all those around the world. >>> nuclear production company westinghouse is introducing new, smaller and cheaper reactors. the ap 300 will generate a third as much power enough for 300,000 homes as westinghouse's current flackship reactor ready for the market in four years. >>> fast food chains carl's jr. and hardee's are partering with presto to bring artificial intelligence to drive-through windows. both are owned by cke restaurant, other chains including del taco and checkers and rallies are already using the technology after running tests that several restaurants last year, cke's chief technology officer said the presto ai software was better on speed, upselling and order accuracy than he expected. apparently, relentlessly quote, unquote upselling so think large sodas and more french fries with your order. >> so the ai is jumping in and being like, zinhle, d

. >> morgan brennan joins us with the cnbc "money minute." >> pac west and western alliance are tumbling. both are down more than 25% leading a renewed sell-off in regional bank lenders as investors continue to assess the health of the industry after the failure of first republic. shares of comerica and zion bank down 10% as well right now. >>> ibm plans to pause hiring and roles it thinks can be replaced by artificial intelligence telling bloomberg news hiring for back office functions such as human resources will be suspended or slowed and 30% of noncustomer facing roles, this is as many as 7,800 jobs could be automated. >>> kit kat now a serial. general mills is launching the chocolaty breakfast in the u.s. after rolling it out in europe in march, the cereal squares resemble the hershey's chocolate bar and the company says it has a creamy coating and a distinct crunch. the box looks like the candy's red wrapper. this feels more like a late night sweet snack to me than a breakfast cereal but we'll see. i'll try it. >> sign me up for the trial. i'm into it. i love the kit kat and i thin

. >> morgan brennan, thank you. >> thanks. >>> coming up, how three western states are working together to keep the colorado river from running dry. >>> plus, how the suspect accused of killing a man on a new york city subway is publicly defending his a (vo) when youou live withth moderato sevevere crohn''s diseasase or u ulcerative e colitis, y yoy can be fulull of remindnders of youour conditi. you weweren't mamade for uc r crohohn's, butut entyvio i i. inin clinical l trials, enento helped manany people a achieve longng-term relilief and rememi. infusision and sererious allerc rereactions cacan happen d durr afafter treatmtment. entyvyviy increase r risk of infnfectio, which cacan be serioious. althoh unlikekely, a risksk of pml, a , seserious, pototentially f fatan infectioion cannot b be ruled o. tell youour doctor i if you havn infefection, expxperience frfret infectctions, or h have flu-le sympmptoms or sosores. liverer problemsms can occurur. ask yoyour doctor r about enty. ♪entytyvio, entyvyvio, entyvi♪ doveve beauty babar dodoes far morore than clele. this is gogoing to momois

i'm carl quintanilla and morgan bre brennan. contagion fears sweep that sector, we'll ask him about the stability of the banking system in a moment and the role he thinks these short sellers are now playing. >>> then one of the big earnings movers of the morning. the ceo of expedia joins us first on cnbc as hot travel demand continues to be a

i'm john fortt with morgan bre brennan.are the theme nvidia and snowflake, nvidia touching 52-week highs, more than doubling here today snowflake looking to show its data prowess is still strong we'll get numbers from american eagle and guess. reporters are standing by with the results. >>> plus, we'll talk to bob diamon

i'm carl quintanilla with morgan brennan.nd others tanking the ceo of first horizon is going to join us this hour as its merger collapses. >>> plus, a trio of earnings ceos ahead nat gas, hyatt off its best quarter ever, and the commercial real estate crisis with jll. >>> later on, what to expect from apple tonight and the public debut today that could spark the return of ipos. >>> markets are deep in the red right now with

i'm david faber with morgan brennan. we're live from post nine.d sara both on assignment give you a look at the markets half hour into trading this morning. you can see the s&p is up ever so slightly. the nasdaq, though, continued strength in that index. >> 4196, just below that 4200 level for the s&p. everybody has been watching that we're 30 minutes into the trading session. three movers that we're watching shares of pacwest rallying the bank selling $2.6 billion portfolio of construction loans to kennedy holdings. the bank agreed to sell six loans to kennedy wilson with a balance, principal balance, of $363 million meta, meantime has been fined a record $1.3 billion by european privacy regulators over the transfer of eu user data to the u.s. the protection commission told meta to suspend, quote, any future transfer of personal data to the u.s facebook says it will appeal the decision and the fine. shares are popping, though they're up 3%. >>> and a we have a deal in the energy space this morning. chevron agreeing to buy pdyful in -- pdc energy

i'm carl quintanilla and morgan bre brennan. the ceo of fifth third as contagion fears sweep that sector, we'll ask him about the stability of the banking system in a moment and the role he thinks these short sellers are now playing. >>> then one of the big earnings movers of the morning. the ceo of expedia joins us first on cnbc as hot travel demand continues to be a theme for investors in that sector. >>> the cfo of block, after that hindenberg short report. the stock is higher driven by growth in catsh app business. >> markets are robust, with all of the major averages up greater than 1%. on pace for the first day of gain for the major averages, at least for the s&p, i should say, in a week. >> definitely some upgrades of the regionals at jpmorgan helping some sentiment apple having a big impact as well western alliance, by the way, we should mention, the biggest gainer, i think, among the regionals. one of the names jpmorgan is upgrading today after denying reports of a potential sale. our next guest is looking towards regio