with paypal, it's memorable. it's friendly sounding and as you put it she's like your pal is more than your friend like your pal. has your their arm around you right? it's a warmer relationship. it's a warmer definition and and warmer image in your mind. she says the the peas create plosives so you have to like stop the air in your throat, which leads you to like. remember the name for a halfbeat longer. there's some pretty decent linguistics research on this and you you have this change later, but you have the capital p and the lowercase l which create ascenders and you have the lowercase p and the lowercase y or sorry the lowercase wine lowercase p which create descenders that's like visually very symmetrical now the interesting thing and we never could find the origin is that at some point they capitalize the middle p and and she went under great. i'm very grateful. she went into her files and she came back and said jimmy. the only thing i can find is this little note that i have that says chose paypal with a

people look at paypal as one of these may a lot, but that sounds coming out of paypal is extraordinary. it touches aspect every aspect, multiple companies, some of the most valuable companies in the world and as you said you werelooking at these pockets of talent . i blanketed on the word that you use about talent growing better and supporting each other . what was it about paypal and what have you learned about talent magnets and how this ecosystem functions to be able to yield all these incredible new companies and new results ? >> the word i'm going, it was brian eno, the music producer . he used the word senius and he was describing artistic clusters so he was describing the era in which rembrandts were doing their work and it was funny. when he writes about it, i responded in the intro. when he was in art school he learned that these were solitary geniuses, revolutionary but really when you start studying more he realized there are collectors and there were people underwriting the art . there were different venues and people and all cluster. that was supporting this particular get

what was it about paypal. the music producer used the word instead of genius but he was describing artistic clusters like the era and the period in place. he says when he was an art in artschool he learned that the werere solitary geniuses, revolutionaries and realized there are collectors and people underwriting the art and different venues and people in theha whole cluster supporting this particular gift. it leads you to think about the story. with paypal you don't have that. you have at least 200 people in palo alto, several hundred more when the company goes public and you have some of the brightest and modern technology so. what happened from 1998 to 2002 no one had gone back and did a detailed look at that. inht doing that you might illuminate like here are a few of the things that made the group what it is later. it stops in late 2002. there are some common threads and things in the water in those early years that are striking to me and hopefully striking to the readers. >> totally. you have some person

with paypal you don't havee tha. you have a lot of people at least 200 people and several hundred more in omaha on the public as company. you have some the brightest lights in modern technology. and so for me, what i was trying to do -- a one ambition was just tell the story. meaning what happened from 1998 until 2002 to create paypal. nobody done a detailed look of that. that was the sort of goal. the hope was in doing that you might aluminate like oh, here are a few of the things that actually made this a group -- that made the group whatgh it is later. my stories going to disappoint some people because it actually stops in late 2002. i don't want to be right about all of these people are more famous for today per but i do think there were some common threads and things in the water in those early years that were really striking to me. and hopefully a striking to. >> totally, totally. yes a megawatt personalities in this book very famous people, tanja hester, elon musk, he start the story and in some way it revolve

now for her first fast pitch, what do you like paypal? >> thank you for having me on.aypal is a leading online provider of online payment solutions to customers and merchants. they have 425 million active accounts and over $1 trillion in payment volume we like it for three main reasons, look, we seen the pandemic impacted long-term e-commerce and retail sales trends we believe the online percentage will pick up in 2023 and paypal is prime beneficiary of it. another reason, ebay is no longer overhang they have significant growth after spinning out in 2015 last but not least, right now paypal is attractive valuation trades at a growth adjusted discount to its payment peer group making it attractive from a valuation perspective as well. >> the problem is that the payment peer group is not one that performs well in this sort of market environment. it's important to say that you see this for a five-year time horizon, correct >> yes, that's correct i mean, look, there's volatility in the markets and we've been closer to earnings and have seen overall the payment group has ki

in the near term, sara, paypal has earnings in two weeks.nies want to give the markets something really good to chew on. analysts there came out with a call on this this morning. talked the move and shake-up saying if paypal had good earnings comes out they would have give an pre-release saw it with another big fintech lost its cfo a couple months ago. announced that, same time pre-released numbers paypal didn't. appears to be one of the reasons the stock is getting hit today other thing on john rainey's departure, interim ceo is paypal's head of ir. another sign the move abrupt not a successor yet. dan shulman, adds pressure to what really was and is a high-pressure situation. growth of paypal slowing changed user guidance last quarter. had a 700 million user target they scrapped completely schulman and executive team under pressure and need to earn trust of analysts and investors community at this point. up to schulman the sole person respond for turning them around. mayor issing limelight with rainey a tough situation for him and earnings

the reality is for paypal it's both, frankly.p is definitely in the, you know, fallen angels category these were stocks that were huge during the pandemic. the business got a big boost from people being stuck at home buying things online, et cetera, and you know, and we're seeing the natural kind of trailing off of that growth across the whole group. in addition, of course, in a rising rate environment these are high multiple stocks in the terminal value so when you're in an uncertain rising rate environment they're difficult stocks to own, period. paypal has a bit of its own goal going on they've had pretty significant execution issues over the last six to eight months and more recently, the cfo announced that he's departing the company to go to walmart, so there are deck chairs moving at the senior levels and investors are sitting on sidelines waiting to see what the new leadership team will do coming in and also, you know, how they're going to re-invigorate the growth of paypal and start executing better s venmo is a great exa

in october along with paypal, right?f them sold paypal at 230 and they began to, and there as well there was deterioration. i'm sorry. i disagree with this call and i don't see anything that would give me an indication that will begin to reverse itself and i'm not sure what the fundamental catalyst ultimately is for block or for paypal other than just looking at the chart and seeing it looking pretty ugly towards the bottom >> paypal, they initiate, as i said at equal weight and the target is 135. that's 20% upside from here. you want to make the bullish case to joe, sarat >> you own paypal. >> i do. i mean, firstly, joe, good call selling it at 230. the stocks have come down quite a bit. paypal, there are two catalysts coming forward and they're three-quarters of missing and here are a couple of things to watch for and it was comps and pull forward demand because of covid and in the last few quarters people were doing online ordering and now they're going out and once we passed that, that will show some acceleration of

paypal, kate rooney. going to move and we're going to show you exactly what happens and why now, what's coming up again tonight? remind us. >> i've got ynon kreiz and visa the ceo put upunbelievable numbers and the stock is down. give me a break. because the market is stupid why is it down six why is alphabet down when they delivered a good quarter why are people doing stupid things because they're stupid >> when the stock was up big, i recalled you saying that day americanexpress is one of the best and the stock is down >> they provide a service, reasonable price where they return a lot of capital and the numbers were amazing >> millennials, yes -- >> no. getting shorted and so is mary bar and i've had it. being. boeing can you believe farmer gym said they should put galvin's head? >> i dent know what his basis is when we're talking about earlier. it's questionable that he said what he did and he's still holding on to the stock maybe unless his base is much lower. we'll ask him. >> this is it. aand concl

. >>> after the break we will dive into paypal. it could get better, but just isn't. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. (cto) ♪ i want the world. ♪ ♪ i want the whole world. ♪ whose resumes on indeed match your job criteria. (ceo) ♪ i want today. ♪ ♪ i want tomorrow. ♪ (dispatch) ♪ i want it noooooow! ♪ (vo) get 5g that's ready right now. fortitude gold producing high grade low cost gold in nevada usa. a gold investment delivering monthly cash, dividends and substantial yield. fortitude gold. if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance plan from unitedhealthcare. medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays, could add up to thousands of do

guidance is the biggest thing for paypal wall street wants to know what's in store going forward paypal last quarter, completely got rid of it the cfo is also leaving for walmart. and some of the risks that paypal talked about when it comes to 2022 guidance, inflation, russia, lockdowns in china, none of which were a drag on visa or amex. we will see if paypal is a different story. >> it's not up in sympathy with visa down another 1.4%. thank you. mike, paypal is right there with netflix on the worst performers list of 2022 who would have thought those would be the worst performers and occidental petroleum would be the best? >> absolutely. this real sharp down scaling of expectations for earnings is very, very hard to own these growth names while the estimates are going down and they have been going down pretty quickly, you know, for 2022, the number has gone from 521 to 462 next year i mean, just not to say that the value is not going to be there at some level, but i think that that has been happening until people get confidence, you know, they stabilized it and the big picture opportu

paypal, very out of favor, and netflix. i have to tell you, i saw after the close that paypal got recommended by wells fargo maybe that helps it. ipg photonics. this is interesting, a laser company with significant operations in russia if you look at the biggest winners in the nasdaq 100, you'll see very interesting stories. there's splunk, the data an analytics company that is making a comeback because of the new ceo, gary steel. up tw28% in the first quarter then activision blizzard the video game takeover story because it's being bought by microsoft. you have a couple drug stocks with a good pipeline vertex pharma, they have a possibly nonaddictive pain reliever, and astra zen scaw which is number six, but i'm including it, and then is the utility, classic recession proof stock, and then dollar tree which is turning around thanks to a push from an activist investor we talked utlast week when we said we still like dollar general more, but dollar tree is okay you can learn even more from the losers and a lot of these we co

what do you make of paypal here?any told you they had no ideas for growth when they were trying to buy pinterest you said it with teladoc this one, the pre-pandemic level was $120 this stock is trading at the pandemic low i would say away from this one traditional names are more -- more value oriented. i would stay away from this one. >>> coming up, digital dilemma, elon musk buying twitter in the middle of an ad spending slowdown the deiltas are ahead. "fast money" is back in two. introducing icy hot pro. with 2 max-strength pain relievers. ice works fast... to freeze your pain and your doubt. heat makes it last. so you'll never sit this one out. new icy hot pro with pro-level contrast therapy. rise from pain. >>> welcome back to "fast money. fears rising youtube reporting a big miss on ads yesterday. advertising and similar concerns at twitter, with the potential sale to elon musk. apple appeared amazon are set to report tomorrow. how concerned should digital be? are we only see a slowdown at the smaller players? a

help us fight back against us on slot of censorship . paypal, say the band last for $180.00 days, and bank or credit cards, links to the payments service cannot be removed or added to another account. let's discuss this with the founder and director of min press news minot at lee. thank you very much for joining us on the program. why do you think this has happened? well, 1st of all, thank you so much for having me. well, there's no question that pay pal bending myself and ms. preston. other journalists like caleb month and it's a form of censorship, of dissenting journalists and outlets. if you look at the kind of coverage that we produce, that ment press for the past decade, we have been unapologetically, working as a watchdog journalism outlet. which is how journalism is supposed to operate according to our 1st amendment, to hold those in power account to expose the profiteers of the permanent worst day . and we've done this from the wars in iraq, afghanistan, libya, somalia sedan to apartheid israel's occupation of palestine. the dan to saudi was genocidal war in yemen to the regi

disney down more than 15% and paypal down more than 20%.ese yesterday, several of them, during our stock draft with jim cramer and others let's now bring in scott nation, cio and president of nation shares let's start with netflix, which you still are staying away from. >> i am, tyler they have hit the subscriber growth wall. they found the upper bound on pricing. they're calling last call on password sharing some shareholders will say make mine a double, others will say just leave the bottle because the risk now is management this is a very different management problem for the senior leadership. they have $17 billion in content costs. they're going to have to cut that without alienating subscribers. that is a really different management problem. >> so a pass on netflix, kind of in the same vein, what about disney, scott? >> i think this is very different. all the news for disney has been bad lately and much of it is not their doing. but the news going forward should be pretty good. news from the theme parks should be pretty good universal

these stocks and stories and in this sector that's got to be a tough one to swallow for venmo and paypalr: yeah. really pointed to the organic growth of cashapp and talked about -- things like the bitcoin conference and the idea people just want to sign up versus paypal having initiative saying, know what? we've got to go, launch this app to compete with cashapp and described it as venmo following cashapp. said, could be one of many winners, but they have a lot more conviction when it comes to what block is doing with cashapp and especially when it comes to bitcoin. yeah, tough news when it comes to paypal. >> kate, thank you kate rooney down in miami for bitcoin miami with the mu crypto bull. >>> still ahead, used car demand dwindling but prices still sky high the latest figuresened a what could bring prices down. that's next. >>> speaking of which, check out the national average for gasoline prices. $4.15 gallon of regular. about $1.30 higher than a year ago. down 18 cents from the march 11th high of $4.33 we're back in a moment. ntly delivers quality candidates matching your job descr

xoom was bought by paypal. paypal's headquarters are in san jose and will remain open. >>> just hours ago, a prisoner swap because between the u.s. and russia. american marine veteran trevor reed will be on his way to come to the united states. natalie has more details about that exchange. natalie. >> reporter: ryan, good evening. the white house says read's release followed months and months of negotiations. speaking to reporters earlier today describing reed as in good spirits, but also noted president biden made this decision about the prisoner swap out of concern for reed's ailing health while in detention. russian stated television cameras showed kpix appearing gaunt but finally free. the marine's veteran release was part of a prisoner swap between russia and the u.s., which returned a russian pilot convicted of smuggling drugs. reed's parents say the exchange took place in turkey. >> the american plane pulled up to the russian plane and they walked both as a nurse across at the same time like you see in t

so why paypal?there's a whole other round give me some time, kelly i just think that again, this is one of the premiere payment companies in the world, a strategic brand, about 25 times 2023 earnings. this is a $135 stock and that's a very different downgrade from where we were a year ago and they're growing mid-teens and this is a company that is a premiere, premiere tech company that's been destroyed in what's been a tech market crash >> melissa >> it's been a thin tech disaster has the stock been re-rated enough >> no. it was one of the worst mistakes i ever made. i believe when it was right here and i spoke with dan schulman who is the ceo who came on "mad money" when i was here and he came with a great story and they've reset twice since then, and i just think that this is a company that is deeply challenged in an industry, frankly, where we are back in the visas and the mastercards. >> you also wonder what their strategy is given that they wanted to buy pinterest and how would that have worked

similar price to paypal. and i have a similar question for caravana and way fair.e exposure to higher rates and the housing market, wayfair, would those still be candidates for shorts, and i know that's what you're saying they are, but after the moves we've seen, there's probably a lot of people wondering at some point we start looking for the value play here. why don't you think we're there yet for wayfair? >> i just don't think we're there primarily because of the technical pattern. yes, you are going to start seeing buyers come in on some of these beaten down stocks at some point, but i'm just not seeing buyers we're continuing in a down trend. if you look at the way investors have reacted to earnings, i think that's really critical people like to look at eps, but i think you also need to look at the way that the stock traded after an earnings report if you look at wayfair in general, you see last quarter a gap down 16.9% on earnings the quarter before that 7% on earnings that is showing that investors are not happy about what they have to say. and this company

uncertainty paypal announcing departure of its cfo last week.obinhood trading in the red today as well, mike. these companies should get a boost from inflation, when you think about it higher prices are passed and and would benefit. i fess if there's a big economic and consumer slowdown, concerns there as well. what else is going on in this group? total volume supportive. a prolonged unwind of a super hot area of the market basically so much capital thrown at it people got excited about total addressable market story and kind of unspooling from there. paypal, concerns in general about ecommerce volumes, people's estimates of venmo way out of hand to the upside, reversed anything with a credit component, affirms, sofi, look at upstart they're down a lot today, because people are getting a little bit worried about consumer delinquencies and lower quality lending products i don't know if it's critical today, a recognition points of that, but i think one of the overhangs. >> paypal a story in itself. a lot of buzz and rumors, executive koss follow s

could walmart be getting in position to buy out paypal and enhance its credit operation >> no.ent me a hideous unbelievable paypal package that dan showman gave up. $32 million in compensation. and my trust owns it we're getting killed in it thank god we're long walmart no chance for a buyout i've been telling people to read the investing club newsletter that paypal is just stay away mode tonight's chartist say that history suggests that inflation could be peaking and we're about to have a big nice rally through the end of june. no one believes either of those but i like larry much more "mad money." could today's decline in halliburton, and i'm taking on the loud recessionistas and all of your calls. tonight's edition of "the lightning round. so stay with cramer. ♪ ♪ bonnie boon i'm calling you out. everybody be cool, alright? we've got bonnie right here on a video call. we don't take kindly to video calls. oh, in that case just tap to send a message. we don't take kindly to messages neither. in that case how 'bout a ringcentral phone call. we don't take kindly to no... would y

i think teladoc can go to 42 paypal, i think it's a short too.ority of my down side targ lts. it's one of those situations where where you can short it but you have on the dead lows. so, you better do it in a way that you're controlling your risk i think paypal is going to continue lower >> this whole situation has told us so much about the market. daniel, thank you so much. we appreciate it and thank you as well. watching t-doc for us today. is and the health care sector taking two different paths pharma out performing while bio tech taking a hit. we'll look at how long it could continue and net gas prices have soaring as russia says it's cutting off gas supplies to some european countries. could thee stocks be good places to hide? flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. new

. >> yeah, check out shares of paypal dropping 4% on pace for worse two day run since early february> yes, paypal and payment stocks had a pretty rough day. one trader made a simple but bearish bet on paypal buying over 1500 contracts of the june 92.5 puts for an average price of $3.25 and just to put that into context this trader laid out more than half million in premium to buy these fairly out of money put options, 92.5 strike prices. the break even require the stock to decline more than 20% by the june expiration just to break even so this trader believes you could see some significant moves in the next three months or so. >> yeah. karen, what do you make it of this giant move lower for paypal >> i think it is more indicative of the high-23 flying, high multiples, it's still considered cheap, square down, sofi down as well and the banks are down, even though the pe's are much lower but still correction is down. >> tony zhang thank you for more "options action" tune in to the full show on friday at 5:30 eastern. coming up. big banks on deck and the general with a chart to tell the

something like a paypal could be interesting to those players.larger names, visa, mastercards. where are we with respect, i have a minute to go with the whole buy now, pay later, took a big public relations hit if you will? question marks being more transparent? do you just stick with the large names if you want to be in this payment space? >> i would. right now visa, mastercard, even american express, 25% of the revenue of all three of the networks was in travel prior to the pandemic. it is still well below 2019 levels. if you believe everyone is getting on airplanes, going on those vacations booking hotels this summer a very easy, clean way to play that across the industry. not picking a particular hotel chain, just broadly play that trend, go visa, mastercard, american express. we love them, the cleanest positive outlooks we've got in payments right now. charles: lisa, great stuff, appreciate it. talk to you again soon. >> thanks, charles. charles: folks, i want to bring in managing director michelle schneider. your thoughts on the consumer. t

today at the top besting meta and paypal, both which are big losers this year look at shares of hershey. the stock at all-time highs after announcing an earnings beat and raising its guidance. it's been an outperformer up 17% for the year the consumer staples sector up 3% joining us is hershey's ceo, michele buck good to see you. >> thank you, great to see you too. >> what stood out most in this report is that you raised earnings guidance which we have not seen from the food and beverage industry. what gives you the confidence in this environment with costs so high to do that? >> well, i think it started with the tremendous strength we had in q1 with sales up 16% that was just a really strong start to the year we didn't see as great a price elasticity on the business as we had anticipated. strong demand across our u.s. confection business, international and our snacking business. >> so you didn't see strong elasticity, which is what we're seeing, the consumer is absorbing these higher prices. how much does that last? where does that go from here there's got to be a point where the consu

then meta and paypal and op pinterest as well. hopefully companies is step over it i think tonight is another big test with apple and amazon and r on oroku as well there are pockets of tech that are un-investable. look at teledoc. stock down 37% these companies rely heavily on the covid fueled boom and they are completely toxic and no shocker cathie wood is the number one holder of teledoc they don't want to touch for a number of reasons. digital advertising is a tough spot we know the consumer is struggling it will impact ad budgets. guys are staying nimble. net ledverage is 52-week lows that is the story in april lines depressed with a lot of sideline watching. >> you mentioned some names might be uninvestable. when you look at shares of meta, what do you think of the action? expectations were so low after reporting the previous quarter which was awful? the bar was so low that that's why we see the pop today this quarter wasn't so great across the board >> i have never been a fan of zuckerberg i'll admit that at top we see a reb

charles: what about paypal?aypal i would and that's on the target list for a couple of the analyst researchers, piper jaffray, on the 16 top picks for 2022. charles: you've got a big upgrade too, i think i don't want to speak out of turn but morgan said you got to buy paypal and square and it's so interesting, because i think beth was making this point. they get oversold. they get overbought, but over sold, and that's when they are on sale. >> that's exactly right and i think it's looking at their relative pe, relative to growth right now is what's really exciting. charles: 30 seconds, are you concerned about the fed? are you concerned about, you know, yield, any of that stuff being a stumbling block? >> i'm always concerned about interest rates and i am concerned about recession chatter. we've talked about this , charles. i'm generally positive on the state of the u.s. economy on the fact consumers have savings in the bank but we need to keep watching that inverted yield curve. charles: ann thank you so much a

and that to brings more paypal here. it's a cycle. so we to focus there are only a few areas in which a speed limit has been introduced over laws come, it's a fresh way of thinking about public space, alaska. i think the whole city to do with a re thing, i think ha, evelyn has also brought her family along to check out the project. oh yeah, please keep in mind, this is what i work for so that kids can play safely on the street. that's the key . we want people to be able to enjoy public space safely. also, guinasso, it was part of this project may seem small, but it changes perceptions and culture of i'm and that makes me really happy though you can be fun. philly's the success of this project in beetle or resigned could form the basis of positive changes all over the city and beyond. the whole pool, horrible, just have been tracking down, takes the snacks again. this time in indonesia, a semi round, a multicultural port city on the north coast of java and has been shaped by european chinese arabic and japanese cultures. and that's ref

and that to brings more paypal here. it's a cycle some way to focus. there are only a few areas in which a speed limit has been introduced over laws. come it's a fresh way of thinking about public space laska. i think the whole city to do with a re thank have been ha evelyn has also brought her family along to check out the project. oh yeah, please get her mad. this is what i work for so that kids can play safely on the street. i think the key we want people to be able to enjoy public space safely. also guinasso. it was part of this project may seem small, but it changes perceptions and culture. and that makes me really happy though you seem to be fulfilling. the success of this project in beetle or resigned could form the basis of positive changes all over the city and beyond. 2, horrible, just have been tracking down tasty snacks again. this time in indonesia. ah shem around a multicultural port city on the north coast of java has been shaped by european chinese arabic and javin is culture school and that's reflected in it's vibrant cuisine. one spec

because the composition of our gut bacteria is key to our well being off to the studies and found that paypal, who's got bacteria not so well balanced, tend towards depression. zoomed to close your mind, vice versa, or they got syria of depressed paypal changes dramatically down. bacteria and salons at sundown, stock for for a feel good meal. you can combine foods in many different ways. most important use fresh ingredients as them to her co, velvety curry. mongo seat with ginger than an elective than a tasty pastor with a spicy source like our b auto done on licking them. and then a delicious chocolate pudding for design to work with every one i've made this for has been happy on wednesday he among the caught up. another great ingredient is saffron. it's even said to have a euphoric effect. housey and get the saved and out persian sang that you shouldn't eat too much saffron, because you could laugh yourself to death seats on the feedback. that's because the body relates is lots of feel good ha minds on. we eat a lot of saffron, almost to the point of ecstasy, chile and garlic can also lift

how to paypal express, what they needed me. it was very interesting because that was such a collaborative process about boys from, from the new 30 kilometers own, includes a bike path which links both the affluent area of santa teresa as well as more deprived surrounding areas with the rest of the city today. evelyn and her colleague are going on in inspection i love the casa, already slowing down. also, the scheme is part of a larger scale project called urban pathways. it sponsored by an international climate protection initiative. it's a short stretch, but by forming a connection with one of the main cycle lanes in the city, it offers a viable alternative to driving a car. and a response was with the cyclists had already been using this rate on a daily basis. but it was very unsafe, aka, this stretch over the viaduct was really important to us with somebody, but as age he also say please, ma'am, i've been a cyclists myself for years, so i feel my children are 2. and now i have a grandson who is learning to ride on the little

paypal says it's closing doors in san francisco, becoming the latest in a string of companies leavingthe city tries to rebound from the pandemic. here is nbc bay area's sergio quintana. >> reporter: according to paypal, employees who work at its offices at 425 market will be allowed to work from home instead. the exit highlights one of the big challenges san francisco is having as it banks on big name companies and their workers returning to the office. according to jeff belisario, about 2/3 of the workers lost during the pandemic have returned, but the city is still facing major issues. >> you look at the office vacancy rates in the i is the right now are almost 25%, the highest in the country. >> reporter: the pandemic also magnified some of the problems the city already had, like its unhoused population, safety and reliability of public transportation like bart, and the high cost of living here. and the covid crisis also created new issues like concerns about safety in the city and the ability to work from home instead of an office. >> more and more that just means a couple of days

paypal's exit highlights one of the biggest challenges facing san francisco.city is banking on big-name companies and their employees to come back into the office. about 2/3 of the workers the city lost during the pandemic have returned, but it's been a slow and often painful recovery. the bay area council says there is still a lot of for rent signs. >> when you look at the office vacancy rates in the city right now are almost 25%. the highest in the country. >> that's a big deal. many businesses plan on keeping a hybrid work option, a decision that could prove to be a problem in san francisco's overall economic recovery. >>> you're going to want to hear this one. part of the beach is closed until further notice. right now these guys right here, elephant seals are enjoying themselves on the beach. so the national park service is trying to protect them. the closure starts about half a mile southwest of the visitor's center. it's going to last until the seals leave. keep in mind there is also a permanent closure on the south end of the beach for the same exact r

joining us, david sacks, former coo of paypal. good morning great to have you. >> good morning, great to be with you >> let's start with what elon musk could do at twitter how could he re-invent twitter with dorsey with true open sourced technology do you think that's what he has in mind, how might that change or eliminate content moderation by the company itself. >> i don't think what's needed is a technological fix, what's needed is change in policy the fact of the matter is about a decade ago you had then ceo of twitter say we are the free speech wing of the free speech party. that's how twitter historically thought about their role in the free marketplace of ideas. fast forward to today. they say twitter is not bound by the first amendment, have their own conception of what healthy debate looks like and they're going to enforce that. we've seen the platform keeps growing and people keep getting excluded in a platform in what seem to be arbitrary, willy-nilly ways this is based on his tweets, what upsets elon he believes in fre

price target to 125 bucks, they are already way behind because paypal is at $104 right now. susquehanna cited concerns about its ability to meet guidance. walmart is up 2.8%. he's the man credited with reopening the new york stock exchange just one week after the deadly 9/11 attacks. former new york stock exchange ceo dick grasso joins us live next with his perspective on the future of trading, the retail revolution and what's really behind the meaning of the disappearing spac attack. the closing bell 49 minutes away , the "clayman countdown" bringing in dick grasso, next. you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ trelegy for copd. [coughing] ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze driftin' on by... ♪ if you've been playing down your copd,... ♪ it's a new dawn, it's a new day,... ♪ ...it's time to make a stand. start a new day with trelegy. ♪...and i'm feelin' good. ♪ no once-daily copd medicine... has the power to treat copd in as man

now the stock in the s&p that's trading the most below its long-term average price, 61% below it paypalas been, 58% its trend, epam, technology, digital consulting site, engineering services is 49% below its long-term trend, etsy when it comes to e-commerce down 48% and moderna's 46% below. each is in the nasdaq traded except for epam an nyse listed stock and they represent some of the deeper value situations where people may say it's fallen enough or is it the falling knife that i don't want to catch because it could still go down more. >> epam might be the one affected by the ukraine operations that it has as well to your point there are a couple of names like epam or netflix where the story has changed for good and a couple of others, the jury is maybe out. >> what kind of caught my attention the notion that you have brand nape notice there, earlier this hour i saw -- i was intensely watching that segment you had on social media stocks that were hit pretty big number seven on the list of the s&p 500 stocks that's the most away is meta platforms, of course, so talking about some brand

credit swiss lowers target on paypal, squeeze lower income spending habits.iper lores tesla citing rising capital costs and risks from potential delays, slow adoption and unsurprisingly a, quote, volatile ceo. >>> lastly peloton expects cranked up resistance for the fitness company the stock will trade sideways until evidence of a more customer demand or a path toward profitability lo, the one thing i would add would be some conflicting calls on semis today cut targets, qualcomm down in the premarket but b of a said a lot of preweakness in their view is prized in, talking about names like intel and amd >> yeah, i think a lot has already been priced in we had enough time to be able to think about the impact of the environment that we have with all the macros the interest rates, the inflation, the geopolitical situation and i think a lot of that has been priced in. but nonetheless, just looking ahead, there also is this recognition around the further importance of chips in every aspect of our life and every device we tend to see everyday outside of computers an

valencia said that paypal fired him and other volunteers this past weekend and changed all the locks in a statement sent to ktvu from usa bmx sanctioning organization, noted that since pal fired its volunteer operator, the track is currently not sanctioned by usa bmx or insured and will only resume when an arrangement is in place and the santa clara city council did come to a decision. about this in the meeting just about a half hour ago. they confirmed that usa bmx and power are currently in negotiations and they'll allow them to continue for up to 90 days before holding a public hearing . in the meantime, the track remains closed. andre alright, so there's some movement in the case, but still more needs to be done for parents and those kids. emma, thank you for that live report. doug ellison hours city at 11. some santa clara city employees went to that same city council meeting is sinema story. saying they're prepared to strike workers with unit six field operations and maintenance division say they will strike at midnight may 1st if negotiations toward a new labor contract contin

and at least a paypal, including a baby, had been killed during missile strikes on the southern port city of odessa. and for the 18 way injured in the attack, which russia says targeted a military facility to the world news now and more than a 100 people have been killed in southern nigeria where there was an explosion at an illegal oil refinery. it happened on the borders of rivers and imo states and the new z delta officials. they're described victims being burnt beyond recognition . fidelis and by is in the capital of boucher and says the death toll could rise. some persons who wear bonds during the incident have been taken to hospitals and then some family members took away some of those whose body to recognize for for burial. this incident happen friday night into saturday morning because most of the legal refining of products happen overnight. and that area is actually just on the boundary with reverse states, which is named us or a capital happen in a place called or high g. a. in the most states in out, he's nigerian and the area of materials for legal refining of petroleum p

paypal is closing in san francisco office on market street in june. according to the chronicle. paypal says the closure as part of its plan to give employees the flexibility to work remotely while still doing the best work possible. a spokesperson says the san jose based company remains fully committed to the bay area and that it will continue to hire into and invest in business and people working california. the closure affects employees of paypal's digital money transfer subsidiary zoom ellen mas tonight is pushing for free speech on twitter wants his $44 billion deal to buy the company goes through. just this afternoon. he tweeted this out for twitter to deserve public trust. it must be politically neutral, which effectively means upsetting the far right and the far left. equally ktvu is tom baker takes a look at what changes the users. could see. people often post things on social media in anger or naivety. our stupidity. others do it with purpose to provocation, pontificate argue, criticize or influence others. but can those posts be used against them in the u. s defamation

. >> we talked about spotify, zoom, paypal, now they're down 60, 70, 80%.m here, you're doing this whole game wrong. so as far as i'm concerned, if you never took any profits in any of those things when they were just screaming in 2020 or 2021 or you like the story but didn't like the valuation, then there's some good opportunities here, especially with time horizons the one thing that i think the last month taught us is that some of these stocks that are down that much can rally 30, 40% especially if you are nimble here but listen, we've been saying this for weeks now on the desk when those stocks go and break the lows that they just did, you better be careful because my experience in bear markets, when that happens, like alarm bells go off you better extending your time horizons where the visibility is still very murky. >>> coming up, shares of roku on the move plus robinhood also on the move. shares are dropping hard after reporting a big miss on revenue. we've got the details straight ahead. "ft ne iba itw asmoy"s ckn o. [sx ] ♪ ["fly me to the moon"] ♪

>> yeah, so paypal is another stock with significant exposure to europe, about 30% of paypal's revenue it being down 50% year to date, i think it reflects a lot of the european pain and some other phenomena like e-commerce concerns american express, less exposure to europe. it's two-thirds of the business. it's only around 15% is europe so not as important for europe for amex and we think american express is a company that benefits from the strength of high-end consumers, particularly u.s. based. >> travel too. >> so the strength of those high-end consumers and with some of the trends we're seeing for visa and mastercard is debit spending is getting to be kind of flat year on year. tump tough comps. tougher on lower income households. >> chris donat, thank you for joining us as we speak, the dow is down just about 1,000 points, mike, with two minutes to go in the trading day. yuck what do you see in the internals? >> yes well, it's relatively ugly, sara, but maybe not as skewed to the downside internally as you would expect to see or maybe would like to see. as you see right there, it'

door dash, paypal.he bigger picture, still have seen the recovery continue in some of these names. semis though is a different story, negative on the last month. that underperformance continues. this morning a note from truitt, they are saying they haven't seen negative data order points in a long time what does that say about this industry already under pressure? >> let's spendsome time on enterprise here. the igv down more than 4% since monday we were joined yesterday to weigh in on what's driving the pullback take a listen. >> i think investors in particular are looking for shorter term profitability with a rising rate environment. that has caused these stock ware stocks unprofitable today. they are great companies to be down on average over 50% everyone needs to get the medal that the market has changed and you need to be high and profitable and show that while you are growing your business. >> does that mean buy them here or abandon them here chief operating officer sanjay is with us you know the s

paypal could be fascinating as well.enced what was happening with visa, but we will see what paypal has to say. kailey: absolutely and u.s. gdp data, that will be messy and on the european data front we will get cpi from spain and germany and of course, yes, more earnings from tech companies with the barclays standard chartered reporting in europe and of course, also considering geopolitics, antonio guterres will be meeting with president zelenskyy after he met with putin and lavrov earlier this week, bringing us back to one of the stories we have been so closely following today, gas in europe. after two hours of us discussing it i'm still not sure if i have real clarity on what's going on. guy: yeah, i think a lot of the lawyers out there will be going through the fine print of that contract. when does it satisfy? at euros or the point at which it's converted into rubles? that could be problematic and we will have to continue to watch this one. we might get some clarity but i'm not sure we will. kailey: we will continue