done in china. >> i'm trying to remember the last example of nrf membership being a big touch. >> they are an important lobby group and stamp of i guess legitimization for an american retail industry. >> interesting angle and we'll get ready for depot in the morning. let's get to the judge >> i'm scott wapner. front and center, the big week ahead as key inflation looms and arms race heats up again we'll check the markets looking for some activity and some direction as we try to get a new record close, we'll see how this day progresses obviously, but we do have the big events of the week, inflation data and this arms race. and i want to go down to some trades so you trimmed alphabet and you

sold the qs which i find interesting. and last week you said that you are longer now than i you can remember so why did you trim alphabet >> i add significantly to alphabet in the 130s when all the genesis and noise came out and i thought it was a short term impact and there was no "there" there. so i took the opportunity to really super ssize the position and now cutting it back to normal size. it is still one of high larger positions. but i don't think that it was prudent. so really risk manager and in terms of the qs, i'm short the qs as a heenlg because i have no idea what the inflation numbers will be. so i sold the position i had after eight days of market straight up, i would have sold them anyway. because they are always a trade. they are just to express a near

term view. so my near term view is just risk management. i have so much beta in the portfolio through the big names that i thought it was prudent to put a little hedge on it >> i'm thinking like you look at meta month to date, up 8.5%, amazon we've been talking about hitting new record highs microsoft is up 6.5% in a month. alphabet is the worst performer of the mega caps month to date have you given any thought into rim t trimming any of those other positions? >> i'm still -- i won't say lugging because it has done so well, but too long a position of meta i took it in 430s after what i thought was a pretty good earning report >> it is up eight days in a row. >> and i would have done it today, but the stock was down,

at one point 2% or so. i actually traded a little bit of it. a little bit went longer that is already gone because i used the stop on trading position so i will lighten up on my meta position but purely as a portfolio management position. it is just too long. it is my largest position right now and i want to be pretty safe with michrosoft and the others. >> how are we viewing these stocks eight days in a row for formetad you are in it but trimming it reasonably consistently for the last eight, ten months maybe a little longer. how do we view these stocks in the here and now in what is a big week for ai which we'll drill down on in a minute >> so i think that you have to really look at them each individually at this point they have very, very different growth prospects. very different multiples so the way we're looking at meta for example is to say does meta

deserve a hire multiple than google why is that. and we're looking at them individually. >> what is your answer >> the answer is yes but a hard to come by yes we think there are higher barriers to entry on social media. i know i'll granny myself here, but i'm less likely to stop using facebook and just go to something else because i'll lose high whole community. but it is just as easy to use bing search as it is google search >> and there is the forward pes by the way 35 for meta, 29.5 for alphabet that tells the story and you think that is justifiably so >> i think it is because when you look at meta's earnings growth, 14% next year, 15% the year after that. and they have proven that they can cut costs.

our office has been doing a fun project and we said let's embrace ai, let's start using chatgpt. in a serious way and when we have questions that we might just ask each other, or go to google, let's actually put it into chatgpt and let's see what it comes up with. that is a real threat to search, a real threat to google. so we think of the barrier to entry there is just lower, it is harder so i think that you sus them out and you say apple, what are you really going to grow at, what about amazon i don't think that you buy them collectively >> joe, we'll get to nvidia later, but the own the others. >> and we'll have to get to it right now. you bought the qs with a great trade but i'm trained to always think about where is the risk. i'm constantly looking at my strategy and saying where is the risk the risk in selling qs, apple is going higher you are seeing a rebuilding of

positions in apple from people who have stepped away from apple so far year to date. i also don't want to get in front of -- i don't know what will happen with nvidia. >> may 22 is the report. >> to me it is apple and nvidia right now. when you look at these mega cap companies you have to focus on them strong performance from alphabet and meta and amazon. they are not the near term catalysts for the market right now. so i am concerned about stepping in front of what i think is a rebuilding of positions in apple and nvidia's earnings. >> i agree on apple. what is shocking in some respects, i don't remember a show in as long as i can remember where not a single person on the desk actually owned apple. >> apple is going up >> he just rebalanced out of it. jenny hasn't owned it a long time says it is dead money.

and you've been in and out >> i think it is a trade here because of the ai announcement with open penai. that is what is building >> that was the report that they are nearing a deal with openai >> so that is what is driving it now. but then you come back to maybe they will sell a few more phones in this fresh cycle. >> i think that they think they will sell a lot more than a few. >> but to me you're still left back to where it is. i thought about buying it this morning as a trade, but i didn't want to take a lot of guff from you. >> i'm glad i have that influence on you it's only taken like 15 years. >> would you rather buy a company that for 2025 and 2026 has 10% earnings gs growth expes or 27% and 28% presuming that they are trading

at a similar multiple. >> what is going up right now near term, apple without a question >> but you know what, apple is trading at 23 times of only 10% growth so i'm saying wouldn't you rather own 27% and 28% earnings growth >> what i'm speaking towards is what i see currently in the marketplace right now. apple reports its earnings you had so many people that stepped to the sidelines with apple. they lcame in with an historic buyback that taught everyone that bet against them a very punishing lesson what has happened subsequent to that what should have happened if apple was going to resume the down trend is apple, days that followed the earnings report, it should have been the high. >> i don't feel punished at all about not owning apple >> i'm talking about funds >> assuming they didn't own the others that have been so much

better you have to get rid of the narrative -- >> keep the conversation apple centric. because that is what i'm trying to focus on. if you are going to bet against the qs and s&p, just know what you see in front of you the evidence suggests that apple is not going down >> i'm hedging, not betting. and number two, i think that the dialogue is getting -- don't take this the wrong way. getting old that you have to own apple. sure, it is 7.5% of the s&p, but as i said, so what it has been 7.5% of the s&p. earnings growth right now is driven by their buybacks, not the fundamentals so it could be a trade in front of the announcement, but i don't think anybody in it world thinks that they have to own apple anymore. they have seen it as a lag and as an outperformer >> why do companies buy back stocks and issue difference de dividends? because any don't have other places to use the cash

>> they are sitting on a mountain of cash and they won't use that to do deals they could, but they don't need to they don't want to >> they can't. >> what do you mean they can't >> i'm glad you asked. >> they can do whatever they want >> you're right. but just because you can doesn't mean you should. and in their case sure they could, but i don't think that they have access to buy anything into is meaningful enough to move the needle in terms of future growth. otherwise they would they are too big, they have their products like they are better off trying to drive growth by reducing their share count. it is a sign of maturity who are they going to buy? who could they possibly buy to really drive earnings nvidia no >> is that has never ever been the growth strategy for that company. >> they didn't need it to be >> what they need to have happen is finally ignite a strong refresh cycle on the iphone, which they think that their

foray into ai will be the catalyst do just that. whether in part because of reports of openai incorporation and chatgpt into the iphone, it is whatever will take place out of wwdc less than a month from today. >> they have in-sent advised buying interest into the stock i'm not arguing the long term fundamental merits, growth opportunities of this company. i'm saying what i see in front of me right now, risk to my is it that -- by the way, i don't own apple. so i've got the risk the risk to me is that the single largest weighting in the s&p looks like you are seeing significant rebuilding of positions and to me it will move higher until it's $200 >> we mentioned the arms race for ai is heating up and a really in, i don't know, 45 minutes or so it becomes red hot yet again because that is

when openai holds its big event. google's developer's conference is tomorrow. and there is a lot to look at in this what today's announce the means not only for openai's aspirations, but certainly what the reverberations are going to be for alphabet. how they are trying to compete with, fend off, be as relevant as, all the above. >> and really interesting that openai is holding this event and also one day before google's ultra important io developers event. remember last year when google held this event, stocks shot up because it really proved its ai proposition what it could be so we'll get the two things back to back. openai one will be streamed. and we know that we won't get gpt-5, we won't get some kind of search engine, but sam altman said that he will produce something that users will really

like and he thinks is magic. and that is what openai has been good at. whether it was the original chatgpt, whether the image or video generator, there is some speculation over what we could be hearing today one possibility is an ai agent and it feels like the whole field is going toward an ai agent. you talk about wwdc, a key question there, how can siri be better, how can it turn into this ai agent. sam altman talked about an extension of the user that can like automatically write emails and respond and the other almost like an can executive assistant that can reason, that can push back almost like a senior executive with a ceo he said he liked the latter better so that is a possibility we'll be listening for that. and another possibility or upgrade being speculated is built-in phone call capability so we'll see features not some massive product and probably steps on the way to an ai agent in terms of google tomorrow, the

stakes could not be higher it feels like it has been playing catchup over the last 18 months so google has to come out and wow users and developers and remember its search generative experience has only been limited beta instance >> this is one of the narratives i love the deco as we call it that says openai event front-runs google io because in some respects they have been frontrunning google from the outside of this whole ai arms race process to the degree now that alphabet has come across as reactive rather than proactive because they have had no choice. >> if you are a developer looking at that, you'd say no way. google has had the technology, they have had the engineer, they have had deep mind way before openai could even exist or chatgpt could exist.

it was a technology that google and deep mind put out there that allowed the chatgpt moment so it is so ironic that it does feel like they are playing catchup at least from a user point of view. people have to opt into use gemini where chatgpt is just out there. and you have others springing up open source from meta, clog from anthropic. it is the rise of the chat box when google was supposed to be here first >> all right, thanks for that. so mooibicrosoft developers conference kicks off in a week or so. do you feel like -- i feel like that is the stock of this group that needs some sizzle back somehow. not that it has been terrible obviously, but one month kind of

meh. we're just getting going here obviously so we'll see how it reacts to some of the new, but if you look over the last year, alphabet, microsoft, not even a competition in the returns that those shares have delivered for their investors. and it is not microsoft that is the better one >> you are right look, microsoft is -- they are all fully valued meta, fully valued but in terms of microsoft, i think that is what everybody went to initially. i say everybody, obviously that is a broad generalization. but that was the obvious play. people could see how the openai relationship will drive new subscriptions, whether it is 360 or whatever or upgrades. and how they are putting it into the cloud. so it was the most obvious play and was everybody's favorite ai play including mine. and remains. because i think that will be the one with the gift that keeps on giving i also don't believe you are

paying much of a premium because of the recurring revenue growth. so i think that got a lotof early adopters and now it is just quarterly news. so that is the issue i've thought about the same thing multiple times >> joe, you're still on microsoft. >> that is a great point steve is making. if you think about the evolution of the ai technology, where was it that investors paid the premium initially. they did that with microsoft, with meta. and as the journey has taken hold now to where we are looking into 2025, i feel as though, okay, it is amazon and apple where investors are now expecting that you are going to see the appreciation, the revenue contribution it has been consistent with nvidia and alphabet has had some friction back and forth. alphabet definitely got some recognition in the last six months but i think the market focus right now on ai as it relates to

the mega caps, it is amazon, apple and nvidia >> arm holdings wants a bit of say in that conversation too there are. >> reporter:s now that they have plans of their own to develop their own ai chips >> christina, all eyes are on nvidia and they report on the 22nd of this month, but what about this arm report? >> i'll get to nvidia in a second the nikkei is reporting that arm is setting up an ai division and plans to launch an ai chip prototype by 2025. the company has supposedly already begun talks with foundries to support the new part which could, according to the report, lead to a eventual spinoff of their ai chip business i reached out, arm wouldn't comment. but the chip would be a major pivot for arm's business model

and secondly it would put arm in competition with its current customer base like nvidia, apple, et cetera so you have some analysts that are a little skeptical of this report thus far. and since you guys have brought up nvidia so much, let's talk about what is happening on may 22 share price went up, hovering 5% hire in higher in the last month but jeffries estimates that ai as a percentage of total chip revenue will go from 5% which was back in 2022 to 25% by 2027. so it will continue to drive growth especially with all these deep budgets and pockets from the hyper scalers that have promised to spend. and nvidia remains the favorite given its control over the entire ecosystem as well as launch of its new blackwell chip for the second half of the year early whisper numbers, this is according to wells, is that it will be $26 billion for the

april quarter, total revenue, versus the street estimates at $25.5 billion right now. so out of that $26 billion, at least $23 billion has to come specifically from data center revenues and you were talking about valuations analysts keep revising their estimates surprisingly for nvidia just leading up to this report stock trading compared to arm, which is way higher, but what is important for this company is how the stock reacts post earnings last year there was like 24% that will pull more money into semis. or does it go lower and drive momentum out and maybe into software >> thank you, appreciate that. hard to find people getting negative ahead of the print on the 22nd adam parker who i think has gotten more cautious/negative on

mega cap tech won't go there when it comes to nvidia. still bullish there. jeffries says that bullpullbacks the time to reload too early to sift out the winners and losers in the ai basket yet, but nvidia is our favorite some people say maybe it is not too early. the street has placed its bet that it is not too early to say nvidia is one of the winners doesn't have to be undisputed winner, but it is is no doubt thought of as if there is a couple winners, two, three, they are in that mix. no matter what >> and i agree completely on what adam is saying. it is the anchor of the ai halo. and i doubt very much that even if nvidia was to deliver earnings report, which would be disappointing and we'd see the price decline, i don't think very many people would move so quickly away from nvidia

so as i said, it seems to be the core anchor ai holding what is interesting to me is what the effect is going to be of nvidia's earnings on the rest of the ai halo >> how about like critical >> if i take three names, broad demo broadcom, cadence design and amd, each had their peak in march. those stocks have done nothing the last 60 days they need something to resurrect performance. and they are reliant to getting something positive from nvidia to do that so i really think that the ai halo is where you want to focus on off this upcoming report sflp we have a news alert regarding the gates foundation >> yes, melinda gates is resigning. in a statement she said it is time for her to move on to the next chapter of her

philanthropy she points to the fight for women and girls in the u.s. and around the world and said under the terms of my agreement with bill in leaving the foundation, i will have an additional $12.5 billion to commit to my work on behalf of women and families and says she will share more about what that entails in the future of course she had co-founded the world's largest charitable found indication with her then tuhusbn bill gates the couple pledged publicly to give away at least half their wealth they announced their divorce in 2021, but they have continued to work together on the foundation. bill gates today also released a statement thanking melinda for her critical contributions to the foundation and wrote "i'm sorry to see melinda leave, but i'm sure she will have a huge impact in her future philanthropic work." and he says he is confident in the current leadership team of the foundation and its mission but again melinda gates will be stepping away from the massive foundation that she co-founded with bill gates.

>> contessa, thank you coming up, calls of the day. bullish activity sending multiple committee names to new highs. we'll get the trades (♪♪) at enterprise mobility, our experts always see another road. because when there's no limit to how far mobility can go, there's no limit to how far businesses can go. (♪♪)

let's start out with delta air lines, named a, quote, preferred stock. price target $72.80. i want to be as precise as possible that is a 39% up side. they say they have the strongest competitive positioning in all the key hubs and holds almost 75% market share at its top six hubs new 52 we'll high, joe owns it >> i'll trust them on that note. not sure i'd call it a preferred stock. >> in that sector. >> yes, in that sector and i've heard one of the reasons why is maybe they have nonunionized labor versus the others but the ownership that we have in this stock is all about momentum you could look at other airlines and we've actually sold out of united airlines, and so to me,

it is momentum based as steve often says, airlines are a rental or a trade and i tend to agree with that. >> netflix, jpmorgan price target 6.50. >> it has had a nice bounce pack from earning as it always does and no sense repeating it, but i will, it is a leader and it is the leader with a good lead like secretariat running the derby. nobody is even close maybe one other hulu who -- >> you're dating yourself. >> maybe i just read the book over and over again until i absorb it all. i know, it doesn't take me a long time to absorb it, but here is the story they are the leader. they have pricing power. ad business is going well. they have the on most content while others have cut back on content because they can't afford it. so why wouldn't you own the leader if you believe in streaming. >> what is remarkable, still 15%

below its all time high from november of 2021 there is a lot of room for this stock to go. we gladly purchased it >> and not reporting subs i think will be a benefit because the fixation will be on long term story instead of the quarterly numbers that are historical so i'm in favor of that. >> what about qualcomm, joe, it is intel jenny, qualcomm joe, morgan stanley telling about the impact of restrictions on shipping to huawei so jenny, take intel >> the next line is impact should be minimal for both companies. and so i think i don't like even thinking about headlines like this as they relate to intel because i keep telling everyone intel is super, super, super long. >> because the others are so positive that come out >> because if you want to hold intel, like you have to be in it for -- ha-ha-ha.

>> it was funny. >> i know, but i wish i could s -- everyone could see him laughing at me i've said if you are going to stick with it, it is incredibly long term. so just tune out all the short term noise and stick with the fact that they have like billions of dollars coming their way as get these -- and if we keep reading it, separately intel is in talks with a deal to build a factory in ireland that takes time but they will generate significant money for them tune out the short term noise. >> qualcomm wants its five year high from january of 2022 up at 193. obviously when you look at the fundamentals as it relates to huawei, huawei is not even in the top ten for its customers. you've heard from the ceo that they have already said we've got minimal impact and keep in mind that the 4 g chips are the chips that they actually sell to huawei these are related to the 5g

chips. >> what about huntington bank shares named as among the biggest beneficiary for maturing out of money swaps >> this is one of the better performing regional banks. i know steve is looking at me why would you say a regional bank >> why would you own them? >> i'd like to see them return to purchasing shares they haven't done that since the fourth quarter of 2021 but the loan growth stands out relative to other regional banks. their guidance is 3.5% to 5% you can't find that type of loan growth within the regional banks. they have done a good job expanding into texas, into carolina and seeing the bbin. >> visa and master card. both initiated overweight piper sandler. >> and who financial sector companies, you are getting mid teen consistent revenue growth the last 36 months and they buy back a ton of their shares and former donald trump

lawyer and fixer michael cohen continuing to testify saying he arched to buy karen mcdougal's story at the direction of donald trump. testimony in line with david pecker's testimony that they would have paid $125,000 for the story. federal investigators are probing amazon's robo taxi venture zoox after two braked unexpectedly causing two motorcycles to rear end the vehicles both riders sustained minor injuries national hoighway safety administration says the probe will cover about 500 vehicles and focus on the performance of the automated driving system zoox has yet to comment. and an intense wildfire could hit western canada today

with the winds fueling the blaze. it is one of 90 wildfires currently burning across canada with smoke spreading to the upper midwest prompting minnesota to issue a health warning. here we go again back to you. up next, approve, deny or delay. s.e.c. has just over a week to rule on the first ever ethereum etf. an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly.

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let's get to bob pisani. >> now that spot bitcoin etfs have successfully launched, both etf and crypto world are waiting for the next big event and that is spot ethereum it has to be approved or denied by may 23. so let's talk with head of the digital asset council of professional professionals rick, may 23, drop dead date, approve, deny or -- >> deny. no question. and i'd be astonished if the

s.e.c. said yes. we're looking at traffic between the s.e.c. and vanek typically if you approach a deadline, if they are intending to approve, there is a lot of meetings back and forth as they hone in on the application that is not happening. there is it relatively low -- >> so that is the tell crickets is bad news >> it means that they will kick the can. they are not ready yet they have the opportunity to delay this decision and they are going to do probably until the end of the year. >> when the spot bitcoin etfs were denied, they were successfully sued that they had approved the futures and the court said since they were similar products, they had to approve the spot bitcoin is the same logic applicable here >> i believe it is, but this is

not going to cause the s.e.c. to say no permanently they are simply saying not yet which frankly in the bitcoin world is perfectly fine. bitcoin etfs are still on new, so many firms are racing to add them on to their platforms ethereum etfs are a bit of a distraction. so i think everybody is kind of okay with the fact that there is going to be a six month delay before the ethereum etfs come about. >> so is it a security or commodity. crypto community is mounting legal challenges against the s.e.c. so what is it, is it a commodity or security and where do you draw the line between this and all the other cryptocurrencies >> it is a land grab s.e.c. wants to call it a security so they have jurisdiction over it, but that is a difficult argument to justify. has already pressed to meet the

test there is really hard justification to support that. it is a commodity i believe. i think most are in that camp. it is going to be under cftc regulation, and that will force the s.e.c. to say yes just like they were forced to say yes to bitcoin. >> ultimately does everything else future the howie test >> i think a lot of the other ones do. probably 80%, 90% of the other coins do meet the definition of a security >> and would be under the purview of the s.e.c >> and that is frankly good news for investors and consumer protection crypto community needs to suck it up and get with reality >> and you've been an advocate of that for a long time. we'll have more on this coming up on etf edge richt w ric will be joined by bit wise management to update us on trading with the bitcoin etfs.

>> bob, thank you. and coming up several committee names on multiday win streaks. we're talking 7, 8, even 10 day res. you probably own some of the stocks on the list we'll trade them next. ♪ (alarm sound) ♪ amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.

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let's talk about streaking stocks number one, markel group ten day win streak >> decent earnings, a string of casualty insurance, i think everyone understands how insurance premiums continue to rise it is frustrating for all of us as consumers but it is ben

benefiting the insurance group >> dominion energy, eight day win streak >> and it is utilities overall everyone has been saying something like if we really want ai, it takes an enormous toll on the power grid we'll need electricity from everywhere so you see utilities, energy, they have all had a really big run this month i think it is part of that overall like trade in leadership but i'm really glad to be the beneficiary because i've got on here dominion, flex, they are all in the same thing. >> and adm, five days. nice win streak. >> yeah, still all about releasing the financials i don't know why it is takes so long remember it is a small part of the business the nutrition business where they have to restate so i still think that the stock will large back up to 80, which is where it was. and by the way commodities weren't as hot then as they are

now. so i still like them i'm still there. right now just like and an n annuity and small dividend >> and arch capital. >> and this is a consistent holding for us really a financial services conglomerate that has managed the balance sheet remarkably well returned capital to shareholders continuing to grow its revenue double digits. >> flex lng, eight day win streak >> all they do is they have like 14 tankers that transport lng all over the world it is just a story of demand for lng, for fossil fuel, for power of every kind that supports that business >> one oak, seven days >> a little bit about natural gas. if there is a name on here, i'm somewhat suspicious about, it would be one oak i couldn't get too aggressive here >> really? i think that you can go all in

they just bought magellan a huge 5% yield. midstream energy player. stock was down 5% after earnings, but call was fine. so i actually thought time to get in if you don't own it i think this is way better than a bond you get your 5% dividend, it is tax advantage and you probably get, i don't know, 3% to 5% capital appreciation on top of that >> all right santoli and his midday word on the other side

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our senior markets commentator mike santoli post 9 with his midday word new week, new thoughts on this market what's on your mind? >> yeah. holding steady and very good breadth under the surface and that's been the theme over the last few weeks and more stocks up than down and today once again you have alphabet and meta more or less just holding things back it's easy to think that maybe sometimes we overhype the significance of some of these macro indicators, but this week it really does seem as if we're going to allow the ppi and cpi numbers to kind of give the verdict on this latest rally that we've had in the markets. the bond market seems okay with it and i'm surprised that the

oversensitivity with the inflation expectations with two trading days in a row, and it sort of shows you that's where the chips are. >> we saw what happened when we got reasonably nervous heading into powell and then we felt that the fed chair, and we felt better on the back side of that. let's see if that happens once again or if it just bring everything once again back to the boiling point. >> sometimes all it is is a clearing event i think it is worth keeping in mind that the street is starting to suggestm more cpi number so who knows how that means the bond market's leaning, but it is in the mix in there that people are open to a dovish surprise from the number. >> all right we'll see you in the next hour and we'll see you in the report and i'll see you on "the closing bell." up next, investors are looking at one stock and the entire committee owns it. we'll have that next

♪ ♪ ♪ all right. welcome back help you figured gamestop was on the list of winners. it's the new 52-week high and it's the new level since august 2022 and thank you rory and kitty for the post today which sent that stock up to the races

and had it halted what felt like a thousand times already today >> do you think he tapped it too much and it came out i thought everyone tapped out and it must be a new breed coming in. >> all it takes is a photo all it takes is a photo apparently it's the market we're in, weiss. uber, that's the one we wanted to hit because all three of you are in it and now there is news that didi, the chinese rival is laying the groundwork to enter t uk the stock down is theoretically on that news jenny, do you want to take that? >> sure. i'd love to. we don't put in all of the work right away and we buy this position here and that position there and wait for things to come down and i thought it was a little bit too expensive and when they announced earnings, we did a deep dive. numbers were good and the guidance was a little below

expectation and the numbers were positive for us and it's up to 4.5% free cash yield and it's great timing because we can put uber on the portfolios that we've been sitting on sidelines waiting for. there's nothing actually wrong in the long term there might be a problem with the way they n negotiate with driver, they will have to pay their driver, but that's not happening today. >> i'm not worried about didi. it's getting more expensive. as a matter of fact, it's ridiculously expensive, uber the consumer is weakening on the margin and tt'thhas e issue they have and we'll have. >> we'll take a quickie, and we'll come back and do final trades

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at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. we'll take you through the final stretch at 3:00 eastern, we'll talk some tech with king lipman and sara nathan is here from goldman sachs will join us, too. i look very much forward to that, and i'll see you then. steve weiss, final trade >> i just think with two binary

events it's helpful to take some protection hedge and selling the q short. >> jenny >> 3m, it was mentioned in barron's this weekend. a couple of analysts say love is coming back in this as the story's gotten a let cleaner. >> teradyne, good positive, technical momentum. >> i'll see you on "the closing bell". >> "the exchange" is now. >> thank you very much, scott and welcome to "the exchange." i'm kelly evans and here's what's ahead. >> roaring kitty and the dreaded "s" word and what it says about the health of this rally and how you want to be positioned from here plus apple, google, microsoft they're all gearing up for developer conferences coming up and open ai's live spring event is kicking off right now they are reportedly nearing a deal with apple to put chatgpt on iphones one of our analysts says apple needs an a