we've got phil lebeau with that story. as we head to break, look at the dow heat map boeing up a half a percent but chevron, goldman, and merck are leading the way. ibm hitting its highest level for ar fe arnelyivyes. >>> the dow was up 700 points before turning negative, now up about 103, the s&p up about 0.75%. apple, microsoft, alphabet, amazon off session high bus in the green today. the biggest performer alphabet with a 2% gain keep an eye on moderna shares at their highest level since january, not a covid story here. their mrna cancer vaccine showed promise in an early trial. the stock is having its best day since march of 2020 with a 24% gain on the flipside, oracle erasing a 5% gain after beating estimates on the top and bottom line last night. you can see those shares have turned negative by about 0.75% in a tough market, and of course tesla continuing its decline it's the worst performer on the nasdaq today down almost 4%, trading at its lowest level since november of 2020 it's also falling below $500 billion in

it's the plane that inspired the moniker, jumbo jet phil lebeau is in everett, washington, at the boeingnd what's next, phil >> reporter: kelly, it's hard to put into words just how important the 747 is when it comes to commercial aviation you go back to the late '60s, this was a revolutionary aircraft when it was first introduced a double-decker, the size was -- it dwarfed anything else that was out there. the number of airlines that lined up and said, yes, we want this this really did usher in the era of mass trans-atlantic, trans-pacific travel and then the question becomes, okay, what's the future for boeing after all of these years, with more than 1,500 747s built, when you look at the wide-body portfolio for boeing, you're looking at the following, the 787, more than 400 of those, the 777, more than 300, and the 767, some of these, by the way, have been able to replace the traffic that used to be occupied by the 747. when there's the 777x. the first flight for the 777x, we were out here in washington when it took place in the beginning of 2020, pre-pandemic. and at the time, they s

cnb cress's phil lebeau visited a manufacturing plant in south carolina and filed this report. >> this is a fun day, but time to build airplanes. >> reporter: it's the largest commercial airplane order for a u.s. airline one of the executives celebrated at the boeing plant in charleston, south carolina united ordering 100 787 dreamliners with an option for 100 more in the future in addition it placed a new order for 56 737 max planes while exercising an option for another 44. >> it's significant without a doubt. it's a cornerstone order in every respect. again, i give lots of credit it to the united leadership team for understanding the world supply come srands for wanting to get that oar in the water, if you know. >> reporter: it adds to the badlog for united, it locks in delivery of new airplanes for years to come while construction is still delayed due to labor and supply chain shortages. >> it create this unique moment where demand has fully recovered but supply is going to be below trend for years to come. we wanted to get ahead of the curve. it's going to be really hard for anyon

phil lebeau brings us the news moving the stock hi, phil >> contessa, it happened a couple hours agon the jsw put out a report saying united airlines is considering a hefty order for boeing 787 dreamliners. that order could be anywhere between 50 and 100 planes. it hasn't been finalized and may not even happen, but that was enough to give shares of united and boeing a move higher, although united has given some back today looking at united shares this year, keep in mind, they've been aggressive about saying we are going to address our fleet and position it for growth in the future and if you're going to do that, you have to upgrade your wide bodies when you look at their fleet plan, it comes down upgrade is wide bodies where the 787 comes in, see continued growth with international markets, dreamliner is perfect for that you don't have to do as many flights between hubs you can pick out select market where is the dreamliner can do those long, narrow, but lucrative flights if you will. then you've got boeing and airbus options there's possibilities that this may not all go to beg if i

cnbc common dateentator mike sa and the airline and phil lebeau.one-third of 1% adding to losses seen so far this week nasdaq overall down almost 4.5% for the week notable. because it's on the back of falling treasury yields, which should be good for tech stocks as we mentioned as they've as you have beenered valuation concern, but now becomes about recession and reduced earnings estimates. >> yeah. >> where is the sell-off taking off? >> exactly nasdaq downside leadership entire bear market the group that really had the out performance op the upside usually hurts more than the downside that's all happening i was looking, next year's earnings estimates for amazon, just vaporize. same with meta and even alphabet down 20% to me that accounts for most of what we're seeing of these stocks in a market the average company is able to have double digit revenue growth because inflation the way it is. explains a lot in general. i think there's a chance declining yields is creating a little more economic anxiety among equity investors than helping on relative

phil lebeau, jetblue down 8% right now.ok at what's selling off, airlines, automobile manufacturers, food retailers are getting hit. staples are underperforming. a good day for technology, good day for the reits, the office reits, home improvement, some sectors that are sensitive to rates perhaps. >> a lot of it is the rate move and laggards catching up i'm not sure you necessarily want to see the huge nasdaq stocks be the main driver of upside on a daily basis. it is broad enough it is all that is going on but with tesla sitting it out, it is a good gain for the nasdaq 100. and that, to me, feels like -- apple acting pretty well in the afternoon. prefer to see some of the cyclicals do a little bit better, but right now it is not really what the story of the day. >> i'm glad you mentioned tesla is down another 4% now down 10.5% this week, it is only tuesday, and for the month, down 17% tesla certainly sitting out the rally, what are you seeing in the internal >> it is strong, but nothing decisive we were up 2.7% in the s&p

phil lebeau got a chance to speak to delta's ceo at bostion and joins me on set.at's notable about this is what a contrast it draws to yesterday when united and jetblue shares were down >> jetblue brought everybody down, simply because it did not give a guidance that was as rosy as many people were expecting. if you want an expectations-filled guidance report, and you say, yeah, demand is there, check out what we got today from delta. delta is going to be better than expected, at least that's the expectation from the fourth quarter. and look at next year and the following year earnings, more than doubling ais the expectation for next year, then topping $7 a share in 2024. when we talked with ed bastian, they said it's clear that they continue to see very strong demand large corporate travel, which has lagged small business travel is continuing to gradually increase and that will probably happen even more in 2023. the one constraint, if there is one, is on the supply and the training of pilots here's mr. bastian >> capacity constraints are real and listen, we're no

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see one on the road like there's the cyber truck or whatever, not the cyber, the cyber semi truck phil lebeau thank you. >> you bet >>> speaking of energy, do not forget we'll be live in europe monday, tuesday, and wednesday covering the opec meeting, eu sanctions, the price cap, everything that is monday tuesday we're focusing on gas. can europe with almost no russian gas make it through next year and the role of u.s. lng we'll make companies, price targets, how much they can actually send and fill and then on wednesday, more on the renewables, how much can renewables actually grow and actually plug some of these holes. we'll see you there. i'll see you in "power lunch" but the show begins right now. >>> we do look forward to seeing you, brian, in 40 minutes or so and next week from europe. welcome to "power lunch. with contessa brewer, i'm tyler mathisen stocks are falling today after a better-than-expected jobs report do markets fear that the fed will have to keep raising rates maybe even higher than anticipated? or are there other signs of weakness in the economy that investors are nervou

ford is just coming out with its auto sales figures for november, and i think we can go over to phil lebeauas those numbers in hand. phil >> david, we've got a decline of 7.8% in november sales compared to a year ago for ford keep in mind that a year ago, and we're talking about the lumpiness of ramping up production as we come out of the chip crisis for the auto industry, they were up 6.5% a year ago, so year over year, you're going to see some lumpiness in these numbers in terms of how ford did with trucks and suvs, specifically, truck sales down 1.2%, suv sales down 15% the f-150 lightning is going to get a lot of attention with ford as they ramp up production going into next year again, another month where they're continuing to grow sales, up to 2,062 overall, ev sales for ford up 103% take that with a grain of salt a year ago, ev sales were, what, they had the mach-e and you didn't have a whole lot else from ford. those are the numbers from ford. the thing that people will be watching with all of the automakers, they are not lowering prices yet, and the analysts are saying, we're not s

robert jordan joins phil lebeau for an exclusive interview phil, take it away >> thank you for joiningtate your dividend give an optimistic forecast through the fourth quarter in terms of revenue growth bullish on next year yet your stock is down almost 4% today. where's is the disconnect between the bullishness you're presenting and what we're seeing from investors when it comes to not just southwest but airline stocks in general right now? >> hi, phil. first, great to be with you. wish we were together in-person. i think you're in chicago. good to see you. i'm not going to answer for the market in the really short term like a day i'm proud we are the first airline to reinstate our dividend and not only that reinstate it in full and also got terrific momentum in the fourth quarter our fourth quarter revenue trends are actually above the third and going to take that momentum into 2023 and we've presented a really good 2023 plan today that actually has the opportunity to return to net income levels that were pre-pandemic-like. so i'm really proud of our team and our people and what we a

phil lebeau is live from the boeing line for the last day of 747 assembly, and he has more on this historicphil >> huge day for boeing, david. this is the last 747 that will ever be built by boeing and rolled out of this hangar later tonight. capping off 55 years of a plane that inspired the term, the jumbo jet. what's the legacy here the first one went into service in 1970. more than 1500 built 400 of them are still flying, most of them as freighter aircraft boeing has primarily been building 747s as freighters over the last several years the last commercial one that was delivered was in 2017. and when they deliver this aircraft early next year, then the question becomes, what does the wide body backlog look like for boeing they have an extensive backlog but we'll trochabout the 777-x being the key to the future. whether it's the 777, 787, or 767, a lot of people are questioning when do we see the 777-x. the first flight was in 2020 it was originally supposed to enter service next year. that's not happening until 2025. that is going to be a primary focus especially for the freighter market

. >> i'll borrow an idea from phil lebeau not necessarily these challengers are a huge threat to tesla just yet, they have the manufacturing capacity that these guys don't have yet. so tesla does have an advantage there, at least, at least according to our friend phil >> the hits just keep coming. >> yes. >> keeping it interesting. >> and he could just change his mind right now but as of right now if he holds by his word he will not be ceo much longer. >> it's the end of the year. we'll see. thank you. >>> and forget twitter and bet on meta, according to our next guest. we'll have more on the other social media names you should be watching here. "techcheck" is just getting started. don't go away. >>> a little more time on the drama in the social media world and the stock implications our next guest seized the turmoil at twitter as a golden opportunity for mark zuckerberg to deprioritize his metaverse dreamsand become investors' social media darling once again. meta itself may have other ideas with the chief technology officer this morning plans to continue devoting about 20% to the rea

phil lebeau, again, with the end of the 747 >> speaking of the end, of course, the end of our show. tomorrow, we're going to have bob bakish join us that's going to do it for us on "squawk on the street. "tech check" starts now. >> good tuesday morning. welcome to "tech check." i'm carl quintanilla with deirdre bosa and jon fortt today is the microsoft activision deal going to come down to call of duty we'll break down microsoft's olive branch to sony today is there uncertainty at the top of salesforce. stock at its lowest level since march 2020 have two key executives recently departing. later, binance tried to connect the narrative, and two wall street firms with opposite tacks on crypto. >> take a look at the nasdaq, down 1.5% today. weaker start this week let's start with the divergence in small cap tech versus the mega caps. >> pretty familiar story it was the once most embraced stocks down. the nasdaq 1 wn for example did not establish itself as a leadership group this is the s&p tech sector, the nazdic 100, as well as small cap tech this tracks the smaller cap universe it's o

according to reports the company will suspend model y output in shanghai in the last week of december phil lebeauhi, phil >> reporter: this gets to the broader question that has been weighing on shares of tesla for the better part of the last three to four months it's what's happening in china whether it's the covid lockdowns, whether it's the question about the economy slowing down, is ev demand slowing down as you take a look at shares of tesla, as you mentioned, there are reports coming out of china that the company will be halting or suspending model y production for a week at the end of december going into january. this coming after a month in november where they had record ev deliveries in china and we should also point out the annual delivery estimate for 2022 is at 1.3 -- excuse me, 1.35 million vehicles. that's down only slightly from where it was a couple of months ago. so the analysts really haven't brought back their estimates a whole lot. and if you take a look at the ev complex, if you will among ev stocks yes, tesla has come down from the heights it was at just a year ago, but it i

. >> phil, much appreciated, as always phil lebeau and dave calhoun thank you, guys. >>> dow holdingt as much as futures have implayed hovering south of 4,100 on the s&p. we watched bonds as well two-year down to 4.12. take a look at the tableahead of a very important fed meeting. back in a minute - [narrator] if your business kept on employees through the pandemic, getrefunds.com can qualify you for a payroll tax refund >>> the bond report is brought to you by pimco. and all it takes is eight minutes to find out. then we'll work with you to fill out your forms and submit the application. that easy. getrefunds.com has helped businesses like yours claim over $1 billion in payroll tax refunds. but it's only available for a limited time. go to getrefunds.com powered by innovation refunds. you're puss in boots? no habla english. habla espanol? i don't speak spanish either. who is this guy? i'm puss's therapy dog. wanna rub my belly. no, hard pass. puss in boots. rated pg. >>> we are watching sec cftc and now the southern district this morning. let's get back to kate rooney. kate >> hey,

higher because there's a scarcity of plane makers in that interview that we have with calhoun, phil lebeaugreat. oil as long as it stays above 70, according to my guru rusty brazil, the dividends will stay, the large dividends, they will stay i think that matters a lot of people talking about how target is going to miss the quarter. that's worth watching. >> i've seen some charts on target foot traffic in some decline. >> yeah. >> palantir, today, jim, that's -- last couple weeks have been rough wolff cuts says sell to $5 stock. >> inconsistent earnings stream. general mills, david pet food wasn't as good as people thought. >> general mills, we didn't cover it as much as we might have yesterday it was down on those numbers though. >> pet food is competitive been an area -- >> it's rebounding ever so slightly >> smucker's got pet food and smucker's is on fire sjm. >> of the names we sort of focused on earlier, fedex up nike tesla turned around. it's not down again. down another 1%. >> more selling? >> clearly >> from the man? the man is selling again >> no, we don't know who's pressuring th

tesla shares are actually up >> i'm glad you mentioned it phil lebeau and i have been going back andhat musk has eyes off the ball, you know, if you were right now mary barra, jim farley, jim ford, they know his eye is not off the ball his numbers are really good. they are selling a lot of cars i think that this man is underestimated i do think the problems in twitter were underestimated. but if anyone thinks that tesla is going to somehow be hurt by this other than the stock, oh, come on. tesla is a good stock right here >> we got to $152 premarket, and as we have reminded people, $150 was adam jonas' bear case. wonder if we bounce off that >> that's interesting. >> you think the stock would rally if they named a new ceo at tesla? >> no, no. i don't want them to do that i just want thime -- i suggested on twitter that he pick john ledger as ceo, that made sense >> for twitter or tesla? >> for twitter he needs someone like john to run twitter. >> his plan was to be twitter's ceo for a number of months and find someone to run it >> maybe he needs to go back to tesla. >> changes his mi

. >> you know, phil lebeau asks every tough question and i keep thinking that bastian is going to havethat's not what i want. it's just box check, box check, box check. i've never really been a big fan of the airlines, in part because of what happened in the pandemic, but i'm a big fan of bastian. he's the man he is the man. >> you've been talking a lot about companies where headwinds, in this case, oil prices, turn into tailwinds, at least from a margin perspective >> this is a great example of why i'm bullish on 2023. here you have a terrific executive. everything's going his way there was a downgrade of marriott today, which people question travel, but i just think that you had that plain order yesterday from united, a hundred planes you have bastian saying good things now, i don't know if the consumer has to cancel all of his things before powell lets up, but i don't think so there's health in an industry that does matter there's health in the rails. the rails are doing well not a lot of health yet in fedex and u.p.s. that could be related to how the holidays are going >> well, how

united airlines and boeing phil lebeau has more >> reporter: this is the massive order. a minute month of 200 airplanes are orderorders 100 have been ordered with an option to order another 100 of them they will be ordering 56 737 maxs and exercising delivery of another 44 maxs of the those will be delivered between 2024 and 2028 big increase in the number of maxs in the fleet. as for the 787s, delivered in 2024 and 2032. as you look at shares of boeing, the 787s are part of the increase in production rates it is currently one. they will bring it up to four and five starting early next year as they increase the proper dec production -- production of 787 how important will these delivers be? they get two every week. two new airplanes next year. you don't want to miss our interview with scott kirby we'll talk about this order and also the question of what happens with their order for the 737 max 10 we will talk to scott kirby about that coming up in 40 minutes. guys, back to you. >> thank you, phil. >>> when we come back, more on the story of sam bankman-fried arrested in

after some contentious negotiations, delta has reached a tentative agreement with its pilots and phil lebeaulabor piece that a lot of people have been waiting for, it needs to go through the pilot unions and over the weekend it took a big step towards that happening with delta and its pilots agreeing on a new four-year contract here are the details 31% pay increase there's also a one-time bonus payment totaling 22% of back pay based on the percentage of salary over the last three years. total cost, $7.2 billion remember, delta pilots and the airline have been in really contentious talks for some time. we've seen the pickets around the country. the rank-and-file had authorized their leadership to okay a strike it was likely not going to get to that point for a long time, if at all. they're basically under the same rules as the rail workers. all pilots are and so the delta pilot contract improves a number of things, including quality of life issues which a number of pilots, not just at delta, but other airlines have been complaining about. when you look at delta, you're looking at a company th

in the electric vehicle space, phil lebeau joins us he's got a very special guest. >> let's bring in of nikola joining us this morning from germany michael, i know you've been over there, a number of truck show where is you've been able to show off the nikola tray as well as the future of nikola as you see it gives us some perspective in terms of what you think investors are looking at when they look at the electric semi market and whether or not we're going to see the level of demand that you and others believe is out there. >> yeah, good morning, phil. thanks for having me on your show first of all, lots of progress this year on the nikola side we started production of our trade in march of this year and now we're in the market. we delivered at the end of the third quarter 111 trucks and we see a lot of interest from the customers here in europe but also in north america. so i mean we own a very good part and obviously now it's all about execution, right and that's why we are very confident that we have the best truck in the market already this year and next year, we bring the hydr

. >>> delta airlines holding its investor day before it begins, phil lebeau is here >> good morning.year, not just for you guys but the entire industry that i think people are wondering do we see the strength that we saw this year accelerate into '23 and '24 you guys see really continuing both in terms of corporate as well as the leisure demand, right? >> yeah. we were here a year ago -- this week a year ago that we were here and we unveiled a three-year plan. it was our recovery plan >> right >> i'm thrilled to say while '22 was a crazy year we hit our targets slightly ahead our cash flow targets. we will be the most profitable airline in the industry. $2.6 billion worth of profit this year. we're doubling our eps that we earned this year into next year which is already in accordance with plans we see strong, continued demand. we can talk about that we see the continued improvement of business travel into the next year we see international markets continuing to open in asia and latin america, other places. so we have a very healthy outlook. >> we were talking before we came on about