- what? - especially when it comes to your finances. - are you a certified financial planner™? - i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. ♪ welcome to "power lunch. everybody. alongside kell and literally she was right here a second ago, i was really alongside her i'm tyler mathisen welcome to "power lunch. google is holding a very big event at this hour out in california and lots of breaking news within the past hour. we'll bring it to you, and we'll ask whether the company can catch up after a somewhat halting start in the chatbot race plus, the covid-19 emergency ends tomorrow as far as the federal government is concerned, and we'll talk about what that means along with other health topics with dr.

>> kelly i'm over here now. hi, everybody. thanks, tyler. let's get a check of the markets. dow off session lows down 240 points, were briefly down more than 300 s&p down 7 and hanging on 2409100 mark, and the nasdaq is still up nicely, .4% big tech and alphabet one of the reasons y.check out the names moving on earnings upstart absolutely soaring up 53% this week and car guru up 20% and car vrana up and take and go back the last couple of years, numbers not as good upstart 78% off its two year high sticking with the auto theme, auto zone and o'reilly both hitting all-time highs again going back at least three years. talk about jim geller talking about how well they are performing shares are down factually and

celsius holdings, the energy drink-maker. wall street talking about this one after results. results up 23%, piper sandler, usb,ration price targets this morning the stock $132, ty. >> drink up, indeed. time for today's tech check at google event sundar pachai announcing new developments saying that aye has been a seven-year journey for the company. deirdre, what have you learned >> reporter: well, it's still going on behind she mere at the shoreline amp they are the across from google's campus, but we've had a number of announcements so far i'll also note that the instant reaction from shareholders has been, you know, muted, i guess google shares have been mostly flat over the last hour, but even that could be seen as a victory because the last time google did an ai demonstration, some 100 billion was taken off its market cap by day's end because of botched demonstrations so the demonstrations this time have been a little more cautious, you could call it. there's some live demos and

there epre-scripted ones as well they just demonstrated what happens when generative aye meets search and this is so important because search makes up the majority of revenue and profitability at google. they announced something called search labs which is they are opening up the wait list you have to sign up for it but here's sort of the takeaway. no more blue links pointing to sites that are paying for that kind of advertisement. in the demonstration the links are replaced with images, summaries, tiktok, side robert kardashian by-side purchasing options. up clear how that works with advertisers, but it doesn't totally displace them, and google will probably argue that it gives brands more tools and more outlets so we'll continue to watch those guys. the set of tools they are releasing is impressive and this is a developer conference that happens every year certainly it has been geared towards consumer as well this year. >> deer drag, let me ask you a question if i go to my standard google search and i put in a search

find me airfares to west palm beach, what am i going to see? am i going to see sponsored content or find me a hotel in west palm beach? am i going to see sponsored content sore that distinction going to be eliminated >> tyler, i don't know if you're on tiktok, but if you're not, you might just get some tiktok videos or maybe some youtube shorts. >> oh, good. >> it will be your introduction, tyler, but the point being is that you're going to see a lot more in this future vision or this evolution of search that, you know, google says will still be the entrance or the backboefnt internet. you're just going to see more. you'll see side-by-side options. you'll get links and images. you'll get suggestions you'll be able to ask what should i see if i'm going to rome along with those air fares, places to see, things to buy, and it's going to be not just texts, but it's going to be more than that, images, videos, et

cetera. >> losing my tiktok virginity whether i want to or not deirdre, thank you very much >> i want to know what she was going to say about, that too. with companies pouring cash into developing their own ai and investors doing the same betting on any stock that mentions the emerging technologies which companies will climb to the top and stay there deep waterates manager is here to discuss no what i to separate the hype from reality duolingo are all about using ai technology investors love it. what about google here >> i think, kelly, this is a big opportunity for google and deirdre set it up really well, what was announced i want to emphasize this was huge news that google just came out with, and what was most significant was that search is going to be the starting point for their generative aye experience it's unclear going into this event whether they would try to separate out different chabots

experiences with search so when i think about that question, which companies are going to benefit by that? it's going to be which companies are going to be able to harnes the power of their bases google has -- they announced today they have five different products with over 2 billion active monthly users facebook meta has 2 billion active monthly users, and they have five products over that this is a huge deal today, and i think it is really going to promote a debate about whether or not google is going to be a big beneficiary here i'm a believer deep water is an owner and investor of google based on what we think that they can do in ai, but, of course, this question about the ten blue links that came up in deirdre's comments earlier is that that is a huge dynamic. this new interface that they showed is very different than the search that we all know, and that search is the lens that the world essentially sees the internet through, and so that's why google is going slow as deirdre mentioned it's in

labs right now and they are going to kind of test it it's unclear when that is going to be rolled out if you try a google search today. it will look the same it is a did b.big opportunity for google. >> what just came into my mind, gene, is new coke versus old coke what is the risk that google screws this up and that people don't take to the new coke >> well, this is the innovator's dilemma, and if they stick with the old coke, i think the old coke is out door we have to -- ai is going to have this trans formative impact hard to understate how big it's going to be so google needs to turn the page. they recognize that. people want more the expectations are high, and so, yes, there's a risk that they botch this, and that's why the stock hasn't taken off right now, but if they get this right, and they have been working on this since 2017, this is not like a flash in the pan for google they have been steadfast at the ai theme, been very clear that they want to enable this, but if they ultimately get right in the next one or two years this,

could have a massive impact. just to give you a sense about that is that it's right now we essentially go to google search if we want to navigate, if we want to be informed about something or if we want to buy something, but you could start to use google search for generative opportunities you want to write a speech, do some notes for a different project you're working on, it's endless. there's an opportunity essentially. this new coke, i don't think there's a question whether or not new coke is better than old coke i'm a big coca-cola fan bub in this case they are turning the page, and i think it's going to be pretty cool they did show a couple of kind of flashy toy department features around what they are doing with photo, and maps and g-mail and navs which is kind of nice but the real substance there's going to be a new blue interface. there won't be as many links and if you do want to buy something they will show you way to buy things and advertisers will play into that. >> there's been so much news on

ai that we can barely keep up. microsoft, for instance, today announcing this partnership where it's a strategic partnership with the ai applications startup bird aye. the tech giant investing in that company undisclosed amount and planning to integrate natasha into its teams video and chat software remember, we actually spoke with the ceo hand founder of ai back in september and he said how they could build apps and interact with aye. when you seat announcements it seems like microsoft is out with one overday though google one is going to have one with character ai how significant is the steady drum beat of only ai and microsoft kind of building their position and continuing to integrate these services into their core products? >> what's significant is how aggressive microsoft has been here, and on the last earnings call it was clear that they were amped up about ai. it was over the top how bullish they are and then like you said they keep having more and more announcements out and i think

you can think about aye in basically two different camps you have those that are being more screw dinchlts that's google and apple and potentially tesla with elon and some of its views and then companies being aggressive with it microsoft is accelerating to the floor here when it comes to ai that's what jumps out to me. they are not messing around and i've thought of microsoft as being a lagard when they got innovation and they are going after aye hard and got religion fifth and how this plays out it's hard to see, but i think this will be a big advantage for microsoft in the years to come. >> gene, we'll ask you to stick around and come back to you. turning to the former facebook, the company changed its name to meta to show a full focus on the metaverse. new coke old coke we'll come back to that. there's a theme and the company is saying despite what the internet seems to think it is also investing in ai, but not at the expense of the metaverse but instead to boost its metaverse offerings. let's bring in julia boorstin now for more

julia? >> reporter: well, meta has drawn some frustrations from metaverse creators, the people creating for horizon world made some statements it's no longer going to let creators use its playscape at dedicated events which they say is limiting the potential for those who want to invest in their immersive platform meta saying the feature simply did not live up to its standards. but as meta stresses its investment in ai, mark zuckerberg has said he's still going long on the metaverse as it's related to aye saying in the earnings call last month, quote, a narrative has developed that we're somehow moving away from focusing on the metaverse division soy just want to say up front that that's not accurate we've been focusing on both ai and the metaverse for years now, and we will continue to focus on both now the company does continue to invest as much and lose as much in the metaverse losses in its reality labs division hit a peak of $4.3 billion in the fourth quarter,

declining to a $4 billion loss in the first quarter, and they forecast that reality labs losses will continue to increase year over year but zuckerberg's vision of the metaverse has been slow to gain tracks last year total vr headsets in the u.s. declined by 2%, and now we are definitely hearing a focus on ai, on meta's most recent earnings call where the word metaverse was said 10 times compared to 57 times that the w0rd aye came up in that earnings call. tyler? >> all right julia, stick around. let bring bang in gene munster to discuss i don't know where to begin but let me just say facebook. >> an addictive project. people can't stay away from t.growing at a nice clip 4% and deepwater is an investor in meta based on the power of their network. we think that there's actionality around what's going on in the metavefrmts ai will be

the fabric of what they are doing. the one-liner. meta/facebook is that they have a product that people continue to want to want and i think it's very difficult to replicate so generally constructive, and they have got a lot of area that they can kind of pear back, obviously some of the investment in the metaverse if they want to do that eventually and get more earnings upside. >> do you believe zuckerberg when he says we're not pulling, that we're committed as ever >> absolutely. i think he's gained some credibility over the last six months he said he would tighten the belt done that more than any other tech company letting 30% of their workforce go the typical tech company let 8% go in the case of the metaverse this has been the passion topic for him for a long time, and the setup was very clear he's been clear to investors that they are continuing to this -- to invest in this. do i believe that meta is committed to the metaverse absolutely, and i think the simple reason is that you have to ask a question is there going

to be a competing platform beyond snobl if the answer is no mobile is the next competing platform for the next 50 years but if you think naturally humans will gravitate to more immersive tech experiences it's more the metaverse and that's zuckerberg's view. i wish they weren't spending $10 billion a year it's a big number but they will stay on it and maybe we get signs of life when apple comes out with their headset next month. >> i see, julia, how generative ai and helps me do things better it makes me a better worker, a better writer, makes my life more veefnlt i am less convinced that a vr headset is going to help me do much better >> well, i think these are two separate things, tyler the think the first thing to ♪ meta has been using ai in its ad targeting for a long time key to how they get the ads to you. the key now is figure out how

generative ai will charge their ads business that's the business right now. metaverse business is one that's losing money for them, but it's something that they are betting on over the long run what they are saying though is that all these investments that they are making into ai will help them near term. it's going to make their ads more effective and make it easier for brands to create content that's going to connect with consumers, but over the long term it's also going to make the grachgs better and more enjoyable to have a virtual experience, so what they are saying is these ai investments are really core to everything that they are doing. what he's talking about is ten years now whether it's about wearing a headset or just being in a virtual world and interacting with your friends in a virtual space rather than on a what's yap chat, they want to make sure that they have the technology to bring that communication which is really what so much of what meta's apps are about and bring that communication into that next dimension, whether it's about wearing a headset or not having spent a lot of time wearing the headsets and trying them all out, they are really amazing and

really impressive but not something i want to spend a significant amount of time doing so the question is how will they take all that have technology and use it to make that communication? these about the whatsapp chains, the messenger conversations and make them more immersive and twhas t take that conversation as that's what they are all about. >> the headsets, mess up my hair just the whole thing i don't know. >> motion sickness. >> gene munster, great to sigh. coming, a biotech business brief, the covid public health emergency officially coming to an end while some analysts exneck to hurt stocks the industry pipeline has become loss especially the boom with weight loss drugs pharmaceuticals are claiming, biotechs we'll speak about all of this with former fda commissioner

scott gotlieb. and let's get a power channel 6, action news, on the power side, illumina up and glass/steagall urging shareholders to reappoint the gene sequencing stock. joining alongside carl icahn on the negative side let's take paramount down 5%, cutting 25% of its workforce and shutting down, get this, mtv news end of an era. we're backft ts. aerhi ♪ imagine, a car that goes as far as it does fast. as sleek as it is spacious. as smart as it is beautiful. introducing lucid air. experience the best. ♪ ♪

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welcome back to "power lunch. though it marks a significant day in the covid-19 pandemic, more than three years of a public health emergency come to an end the biden straights will allow the emergency declaration to lapse transitioning into a new era of how it will respond to the drives moderna led the charm on the vaccine front as you'll recall both down more than 20% for the year as the revenues are expected to lessen joining us now is dr. scott gotlieb, former fda commercial and cnbc contributor and serves on the boards of illumina and pfizer doctor, good to have you back in a practical sense fo of the public health emergency mean >> probably not a lot of the practical impact for most

americans. the administration has takeno es that i think had the most immediate impact upon people's lives.ility around health care through telehealth the dea issued a rule that they will also extend provisions that will allow controlled substances to be prescribed through telehealth services. i think the most immediate impact is going to be a decline in medicaid enrollment because the public health emergency allowed states to continue to enroll people into medicaid. that continuous enroll cement going to now end as a result of the lifting of the public health emergency and you'll start to see people get taken off of the medicare rolls there's some estimates by the keiser foundation and also by the department of health and human services that upwards of 15 million people could lose medicaid coverage over the course of the next 15 years. that will put some pressure on hospitals and providers not to mention individuals that could lose coverage. for all the practical effects on health care delivery that people saw. many of those will continue including free access to covid vaccines and covid testing though free access to otc covid

tests is going to end. >> so let me ask about the medicaid issue here. if i was one of those enrollees who came in under this public health emergency, am i immediately stricken from the medicaid rolls or can i protect my medicaid benefits by re-signing up or something in other words, is -- is my removal -- are people going to lose medicaid coverage automatically with no recourse >> well, right, some people will lose coverage because there were expansions and eligibility so they will no longer be eligible for med kampticaid coverage other public health emergencies are being lifted so states do a good job and not every state does a good job of communicating and not every provider system does so people who are eligible for medicaid will now take the step to enroll, some will not take the steps they may not know that they need

to enroll proactively so they are going to lose coverage as a result of the loss of the continuous enrollment, automatic enrollment. >> understood. >> one benefit that you think could last if i'm not mistaken it's pharmacy delivery, and is it related? for my kids i get these multi-vitamins for free from a pharmacy i've never heard of delivered and it costs nothing every month, it just shows up in the mail through the pediatrician's office and is that related >> i don't think that in particular is related. what's going -- what we're going to see continue is a lot of the delivery of care in the pharmacy so come of that was expanded under the prep act so there was specific legislative steps taken to allow pharmacists to expand the scope what have they can do, and we've really also seen a cultural change in people seeking out care at the pharmacy so people got accustomed to getting their vaccines in the vaccine and they got accustomed to going into the covid testing and flu testing and the pharmacies start to deliver other health care services alongside those and i think

that's really going to be a cultural change that going forward more people will look to the pharmacy to get more routine health care. that's a good thing. i think it's going to enable broader access i think the pharmacies can be doing a lot more to providing direct care to people than they have done in the past and a lot of covid changes i think are going to endure. >> so let's talk about a couple of the companies, one of which on whose board you serve that would be pfizer two companies, it and moderna most closely associated with covid, the vaccines, the medicines to treat and so forth. what is this going to mean for the businesses of those companies? >> look. both companies including the company i serve on the board of pfizer have put forward estimates in terms of what they think people are going to do when it comes to vaccination in the fall we're going have the decision by the fda probably end of june as to whether or not we reform late the covid vaccine. i believe they will make the decision to do that based on the current variance and there will be a recommendation for people

to get vaccinated and boosted in the value, those vulnerable to covid. i think there will be a cycle of vaccination at least for the foreseeable future probably a smaller group of people, and both companies have put forward estimates that anticipate less people will be getting vaccinated but certainly people who are older individuals, people with pre-existing health conditions, there will be strong recommendations from public health authorities that those individuals should get vaccinated much like people get a flu vaccination which vaccination will be encouraged and people most at risk will be strongly encouraged to get vaccinated again, that will be a smaller market than we saw in the past in terms of the number of people who get vaccinated but it will be a durable market going forward. >> so want to talk to you about the weight loss drugs, dr. gotlieb. let's save that for another time because there's a lot to get into just had news breaking it looks like we might have over-the-counter birth control what are the ramifications of this >> well, this has been probably i would say a long time coming

this has been something that's been recommended in the past it hasn't been a political issue so there's been bipartisan support for this the big opposition in the past has actually come from providers and from the fda itself. largely because they were worried about the impact on what we call help-seeking behavior, the willingness of women who are seeking out birth control to go and get counseled from a physician of things they need to take into consideration. in fact, if you listened to the hearing fda advisers expressed continued concerns about that, whether or not women who are couldn't indicated, for example, for oral contraceptives or have a history of uterine bleeding, whether they will heed the warnings on the label or seek out a physician. i think this is something that's been droppedly supported in the past there's been really no political opposition that i've seen or no noticeable political opposition because this has come up when i was at fda and i felt we had a

right of way to pursue this. the opposition again from my estimation that i saw was from provider groups, from physicians themselves and from the fda review team which had concerns president labeling and whether people could comprehend the labeling. >> the political climate, of course, has changed a great deal in the past couple of years. who knows whether there will be opposition there will be more steps along this path, wouldn't there, before these medications would be available in the cvs or the wall greens on the shelf for me to pick up and carry home. >> not necessarily based on the recommendation from the advisers today, and it was a pretty strong recommendation, fda now has to make a decision about whether they go forward. they could ask the company to go back and revise the labeling to address some of the concerns that they raised and maybe perhaps ask the company to do additional testing what, we call labeling comprehension studies, but they could go ahead and approve this based on that recommendation i think this has been a long time coming.

this will happen sooner or later. i do believe there's a strong public health case to be made about broadening access. you want to make sure that people can get adequate information from the label to know whether or not they are properly indicated for this treatment. >> right. >> given some women will have pre-existing health conditions that could contra indicate them. >> dr. gotlieb, thanks very much we could spend the next half hour talking to you. appreciate your time today. >> thanks a lot. >> let's pivot back to the markets now which the dow is 100 points off the session low decline is moderating. shares of alphabet could be part of that as they continue to edge higher as google unveils more details in its developer io conference and after the break rick santelli promises a special surprise during yesterday's show so we're headed live to the floor with a special guest after this what if you could make analyzing a big bank's data... no big deal? go on... well, what if you partner with ibm and red hat, use a hybrid cloud solution to connect data across multiple systems globally, then analyze all that data with watson.

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on the trading floor he's the guy team late. let's go right into it recession. it seems as though the new york fed looking at three months versus a ten-year spread and they are saying the chances have gone from a mid to plus 50s into 68% chance of recession. your thought >> well, really, it's a metric i don't really care about, because as i said what's a recision, when your neighbor loses a job, depression is when you lose your job. this is too hard to ascertain in this time, especially now. so i don't real very. >> reporter: nowadays just because you know recession is coming doesn't mean equityis putting the rally right to the point where you get the release of negative quarter or gdp. >> no, and the fed to me keeps making this error that that's what they are measuring financial conditions well, that's nonsense. the underlying financial conditions by anybody's metrix are tightening and what the japanese have been doing with their currency and the amount of global flow of currency out of japan around the world changes that dynamic. >> reporter: follow the capital.

all capital is fungible. inflation, cpi today i thought it was the year over year healedline under 5%. >> definitely moved the market stan drucmeyer has talked about it and if you watched the gold it bopped up to 2056. >> buy gold, silver is going down history dictates it just doesn't correlate. >> it does not correlate and everybody by every metric, gold ought to be at a 1580 to 1630 and this ought to be bothering a lot of people because even as the fed and other essential banks raise rates gold fails to break. will it? it might, and i'm not a gold bug. >> it's interesting. interest rates have been moving up and now they are moving down. finally, the debt ceiling. what do you think about the debt ceiling issue? >> it's an interesting discussion we keep being held hostage all that's times and the politics of

it i'm with several others. i'm not interested in that you've got an issue of debt, but because, you know, we don't know what that means anymore and its impact, but as interest rates start to rise and the costs securing that debt, that's a significant factor. >> i've got you. real quickly central banks. you think bank of japan is where you're supposed to pay the most attention. >> yeah, because their policies for the yield curve control which we talked about in 2016, we can go back it's driving a lot of capital around the globe. >> i couldn't agree more. >> tyler, kelly, back to you >> rick and ira, thanks, both. >> got to see you, courtney. congressman george santos pleaded not guilty to money laundering and fraud charges in felony court and has been released on a $500,000 bond. santos had been charged by the justice department on 13 counts. the new york republican's next court appearance will be june 30th he's expected to hold a news conference later today.

paramount brands is expected to lay off about 25% of its u.s. staff as mtv news shuts down and a stef memo ceo chris mccarthy says despite paramount's success in streaming we continue to feel pressure from broader economic headwinds. the broader cuts come after showtime laid off 150 employees and mike krzyzewski has been appointed special adviser to basketball operations. coach "k" won three olympic gold medals as head coach he will provide counsel to the legal office and nba executives. the nba's president of league operations said, quote, we're honored to have coach "k" join the nba family in a statement today. kelly and tyler, over to you. >> can only be of service and help and he knows many of the players and i suspect many of the owners and executives. >> thanks, court. >> thanks, ty. cnbc is out with our annual disrupter 50 list. yesterday we heard from the green tech film building autonomous tlaktors and today we're looking at a company using automation to disrupt a

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cnbc is out with ourin had 11th annual disrupter 50 list where we highlight private companies chasing some of the market's biggest opportunities let's take a look at number 25 zipline, sounds fun but it's not what you're thinking the logistics company just recorded its 600,000th autonomous delivery and is on track to hit had a million by year's end they got a start in making critical medical deliveries in rwanda and branch out into food, retail and transportation. joining us with more is zipline ceo keller renato clifton. >> where is this making deliveries, right here in the u.s. that you've made 600,000 of it. >> that one should be operated we originally launched in rwanda in 2016. we started focusing on health care logistics delivering crucial things like blood trans

fusions and vaccines and infusions, trans fugsz, sions a we've expanded into quick commerce and partnership with walmart in the u.s. and also whole food. >> i can understand where the utility would be in the case of medicines and medical products and so forth i wonder how you jump the bridge to commercial uses and whether the devices, some of which are i see there, are most useful in less densely populated areas and -- and i guess the question then is what is the use case in an urban area like new york city or chicago or d.c. or even a suburban area? >> yeah. those are excellent questions, so, i mean, first of all, all of the health care deliveries that we do are commercial most of the distributions are actually gross margin and profitable we -- we started with health care products because there's an incredibly high need there's a high willingness to

pay and it was easier to get regulatory permission. civil works aviation authorities in each the seven countries where we operate when it comes to, you know, rural suburban and urban, the vehicle you see behind me that we've been operating this kind of platform that we've been operating for the past seven years was really designed to serve of enterprise use cases and health care use cases and serve rural areas. the product zipline launched three weeks ago is our home delivery services and will deliver to 95% of addresses including in urban and sub oshan. people always think of chicago and new york city and the reality is most cities even in the united states don't like manhattan or chicago they look more like phoenix, denver, l.a., houston, dallas, like those places, the technology can have a heij pact in terms of delivering ten times fast, half the cost and zero emission. >> do you have faa clearance,

keller, for doing this on a commercial scale i'm taken aback that i haven't heard about this that you guys have already been out in the marketplace doing this, you know, for salads and pizzas and all the rest of it and the concern about urban areas is the accuracy and the density with which drones might be flying overhead. >> yeah. we -- we operate three distribution centers commercially in the u.s. today, and that's expanding i think people are surprised because we didn't necessarily start in places that people expect technology to start our first distribution center was in charlotte, second was in bentonville, arkansas, but the -- the reality is, you know, we think it's really important to design these kynes of systems to be less obtrusive than the way we're delivering today there will be 4 billion instant deliveries made in the u.s. just this year, and we're using a 3,000 to 4,000-pound gas combustion vehicle driven by a human to delivering something to your home that weighs five pounds that's really expensive and is

loud and creates pollution and it's slow so we think it's inevitable that this is going to shift towards systems that are quiet, less intrusive and actually good for the environment, right, like zero emission and we can do that while making it ten times as fast. >> fascinating stuff. >> the world is a-changing. >> keller, thank you keller renato clifton joining us from zipline. >> cnbc is celebrating asian american and pacific islander heritage month throughout the month of may sharing stories of business leaders in their community. here is ida lu, the global head of citi private bank >> it's really important for allies and those not in the asian community to understand some of the values and the cultural nuances and the cultural beliefs of asianss, right? for an example, we're brought up to be super humble, to be modest, to not tout our accomplishments and to work down and keep our heads down, to be quiet, to not boast, to not

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january, welcome back to "power lunch. i'm dominic chu with a market flash on rockwell automation shares are falling right now 3% on a "wall street journal" report saying that the biden administration is investigating whether the company section posing u.s. infrastructure to a potential cyber attack through its china-based operations now a company spokesperson did sell cnbc they have not been notified of any investigation into its business practices in china and then adding, quote, there has been no report or other indication that these practices and protocols have been breached or that any of our products have been intentionally compromised. nonetheless that stock, kelly,

tyler, falling on that report. i'll send things back over to you guys. >> dom chu coming up, airbnb, drillio earnings lower which one is a buying opportunity? a fresh three stock lunch up after the break. stay with us ahhh! icy hot pro starts working instantly. with two max-strength pain relievers, so you can rise from pain like a pro. icy hot pro.

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welcome back time for three stock lunch we're trading three names moving to the downside post earnings. we'll start with airbnb falling 10%. it warned second quarter comps could be unfavorable ceo said, our hope is prices don't go up, especially in this economy. here with our trades today is victoria green great to see you, victoria would you be a buyer of airbnb >> i am. they've had some great support today's a blood bath, but generally speaking we're optimistic on the stock. we think the stock offers a lot of value you're seeing travel come back to the cities and

interna internationally. i look at it this way, say people are getting squeezed and you're a family looking to travel, it's more cost effective than a hotel for a large family. i like our supports. i like where they're going it's a well-round company. for me it's still a buy. >> and a profit. similar story for trulia, weak guidance is the cause of the shares heading down. not guil the stock is down 14%, worst day in six months, what do you think? >> this for me is not a buy here i'm a sell this stock is down 80% off it 2022 high.

their core business is maturing and you're seeing slowing sales, a slowing customer base. when you see a business trying to bring on new product lines and trying to expand, they're going to have to spend money to get them integrated. even with their staff reduction of 17%, i see them pressured on margins. it's not something i can get behind when they're saying they're going to have slower growth. >> let's move to "the new york times," adding nearly 200,000 digital subscribers, but admitting there's advertisement losses they're up 12% since january 1st. what do you do with this stock >> i can't buy it here either. ad revenue is done 8.6%. they mentioned, well, our rate

of cost growth is slowing. not that costs are going down, but rate of cost growth is slowing. they are struggling to get ad revenue. this might not be as sticky a subscription as they would like it to be if people are pressured economically, they look at this discre discretionary income being cut we may see slower subscriber growth and bad ad revenue. >> bad combo victoria, you'll stick with airbnb thanks for your time. >> still get "the new york times" every day, the paper version. >> we get two papers it's the highlight of the morning. they don't come until 9:00 a.m

>> it's almost closing time. we have a lot of stories we want to get to. "power lunch" is back in two.

two minutes left and a bunch more stories you need to know about. the clock is ticking there first up, why fliers are fuming. according to jd power with air travel way down, key complaints

higher ticket prices, crowded planes, limited options and schedule delays. >> biden is going to make them compensate us for those delays >> compensate when it's the airlines flight. is it's the airline's fault with there's no baggage handlers? is it the airline's fault if there's weather delays >> we'll see. the new york jets and the miami dolphins play each on black friday the game is airing exclusively on amazon prime. quote, it's going to be festive. >> this seems to be a beautiful promotional tie. they get a big -- >> oh, black friday for amazon. >> they can drive customers to amazon. >> i wasn't thinking about that. >> genius. >> how many people if they're

watching tv are going to stop and buy christmas presents >> ireland has a 12.5% corporate tax rate it's considering starting a sovereign wealth fund with all that corporate tax money, putting a little away for a rainy day. >> quite clever. we'll see if it works. you wonder if other countries go, wait a minute, now you get a sovereign wealth fund. >> you can make the argument, 12.5% and their tax revenues are rising lower rates may sometimes bring more taxes consumer spending could be softening. total card spending fell in april. b of a saying unemployment rising faster among higher income households. >> bingo disney reports after the

bell today >> can you believe this? 20 seconds left. stocks still positive for the year >> we have 13 seconds left >> thanks for watching "power lunch. >> "closing bell" starts right now. welcome to "closing bell." i'm scott wapner live from the new york stock exchange. this make or break hour begins with today's selloff and what all that says about where your money is heading it's not the market reaction many were looking for. there it is. 60 minutes to go in regulation cyclical stockings, they're selling off. that's a drag on the dow it's been down most of the afternoon. s&p, nasdaq, russell 2000 in the green. interest rates are dropping on