of at least cashing in on some of this. that's what he's done in the past. it's likely. >> deirdre, thank you. pretty fascinating as we watch the expiration today. deirdre bosa talking some arm. meantime, you're going to be busy tomorrow with william sonoma and others. >> it feels it never lets up in retail always at the end of the earnings season, but still very important. lots of clues about the consumer on all ends of the spectrum. >> as the market sort of defies expectations post cpi. let's get to the judge. all right, carl, thanks so much. welcome to "the halftime report." i'm scott wapner. front and center this hour, moment's big bounce as nvidia and several other key names catch a nice rebound today. the committee debating the road ahead and revealing several new moves in their portfolios. joining me for the hour josh brown, stephanie link, jason snipe, jim lebenthal. so we do have the markets higher, nicely so. cpi mostly in line. i think we can say that. yield is a touch higher. we're going to get to the whole market story. i mentioned the bounce in nvidia and other moves.

we have several moves to get through from the committee today, and we're going to start there and start with josh brown who bought a few new things. i want to tell you about all those. you bought ebay, which hit a 52-week high on monday. that's the highest since february of last year. tell me why that one has been added to your portfolio. >> so this is a breakout in progress. it got above long-term resistance, which was 48. i think it will hold that level, but we'll have to see. this is the highest level ebay has traded at, really, since april of 2022. it had been in this range between 38 and 50 since the summer of 2022. so this is basically a stock that can't get arrested. they've had literally no support on wall street. nobody wants to talk about it. it's ten times earnings. we know the reason why it's ten times earnings. facebook came into the marketplace business a few years ago, stole some of ebay's

thunder. there's not a lot of growth here. but that's the point. you're not paying for growth. at this point you're paying for nothing, and they have accelerated the rate at which they're returning capital to shareholders. a 2% dividend yield and buybacks are going up. and they've got a ceo in here who actually was very instrumental in this company during a higher growth phase who is now back, and i think there's more to be said about the future. very low risk here. i have a stop loss. it's not necessarily a long-term investment, but i like it from a trading standpoint. >> okay, keep an eye on that as it gets a little bit of a move here. you've been talking about the nasdaq. we, obviously, have been talking about the nasdaq. you bought the actual exchange stock. tell me why. >> nasdaq a breakout in progress, an rsi of 75. so it might need to cool off a little bit. it's 13% above its 200 day. 5% above the 50 day.

nasdaq broke resistance at 58. so you can see clear as day on the chart every time it bumped up against 58, $60 it fell off. nasdaq is the number one play if you believe capital markets return in the second half of this year, as i do. i think we're going to see ipos. i think we're going to see a lot of activity and not just in the united states. the nasdaq has operating exchanges all over the world. they did something really smart. while nobody was paying attention, they went from being just an exchange business to really being a financial business and software company. and so they've got now three different businesses under the one nasdaq umbrella, all of which have the ability to kick in earnings and revenue growth this year. and you had insider buying as well. i like the stock here. i think get into the 70s, again, it's a trade.

i have a stop loss in place but it's a breakout in progress. >> i hear you. another bump there. cbre. tell me about that one. that's also new. >> similar to a lot of the things i talk about on the show, i like these businesses where you've got a technical breakout but you have a fundamental reason that the market is only just now discovering. if you were to talk about richard ellis or cushman and wakefield the last year or two, everyone would tell you, oh, you're an idiot. commercial real estate is dead. it's going to be a depression, blah, blah, blah. they don't understand the model shift under way here. do you think that's news to cbre that that's going to be some challenges in commercial real estate values? honestly, how childish can you actually be? so, what this company has done over the last couple of years knowing what the marketplace would be like, is they've shifted into a much more

services heavy arr software-like business model where basically they benefit from the volatility because they become the go-to player for every corporation in the world. by the way this is global. trying to figure out their real estate portfolio, right size their leases -- what do they own? what are they rening? what do they have to get rid of? cbre will get paid coming and going. it's not just about transactions. it's about facilities management. it's about loss mitigation. they're in the mortgage business, et cetera, et cetera. so this stock is breaking out. there's a reason why. people understand this. there was a lot of resistance at 87. it hit it three times. the fourth time was the charm, and, again this is a trade, but i think we could see the trade north of 100. >> all right. so you bought more of something else, too. we're going to get that in a minute. i want to spread the ball around here. jim lebenthal, you have moves of your own that are quite interesting.

i'm going to go to the buy first, and then we'll go to something you trimmed, because the one that you bought is controversial, to say the least. it's new york community bankcorp. you bought this in your personal account. >> thank you for pointing that out. >> okay. tell us why you decided to do this. >> first off, no clients are in this, if you're listening. also, folks at home, what i'm saying to you this is a speculative trade. it is higher risk than the normal investments you hear me make. i do my normal rationalization on this, and many people have fallen for the siren song but here is the analytical rationalization. they have uninsured deposits, but they have cash and liquidity on hand that's about 160% of what those uninsured deposits are, so if they went out the door, they have the liquidity to match that. they have equity that's equal to taking basically a one-third loss on their entire commercial real estate portfolio, which, apropos of what josh was saying, is a little bit unrealistic.

people will say commercial real estate stinks and is going to go down. it will not go down all that much. the rationalization has to be held in balance against the speck la -- speculative nature. it didn't matter. that's the element, folks at home, if you're listening to this, you have to go in eyes wide open. the secret sauce, scott, that got me thinking about this. number one, steve mnuchin is no dummy. let me leave it there. he just put a billion dollars in -- not him personally, but with a consortium in investors, and, frankly, is he no dummy, fdic, treasury and the fed knows this bank has to survive so that future trouble in the banking system doesn't come home to roost on the fed's balance sheet. what i mean by that is they can't let mergers like what new york community bank did a year ago go under, and they can't let white knights come in and get blown out, which is what they can't let steve mnuchin happen.

there's an ephemeral aspect on top of the rationalization but, folks, it's speculative. >> highs of the day there. does it bother you at all that that stock, as i see it now, let's call it $3.50, looks, to me, to be below where it was when the news hit that mr. mnuchin and co. were coming in doing what they did and what that might suggest about the fundamentals of this business moving forward? the stock obviously got a huge lift the moment that news broke, and it was a handful of days ago. we were all sort of transfixed by what was happening there. how would you address that? >> of course this is something that somebody has to be uncomfortable if you're buying this stock, scott. again, that's why it's not for clients. what gives me comfort, it looks like the tangible book value is in the mid--6s. something 55% of tangible book value. and, look, remember, before the

mnuchin deal hit it was below $2 a share. i'm going to have a tight stop -- well, not that tight. >> $1.85, $1.86, something like that. >> it popped up to the high $3s and now is back down a little bit. the warrants they struck, struck at $2.50. the shares they got are struck at $2. you know, look, it's not without risk. that's why i'm heavily qualifying this. i'm going to give myself to $2.70 as far as a stop. if it hits that, i'm out and will not look back. >> josh? >> so, jim, i think one of the things that might be accounting for what scott is bringing up, the fact this stock is not higher than where it was since the rescue was announced, is probably something technical that maybe buyers like yourself could actually take advantage of. this is going to have to come out of a lot of indexes. this is, first of all, no longer a profitable company. it's probably not going to be a dividend story, at least anytime

soon, nor will it be a shareholder buyback story, nor will it be a quality story. so all of that -- all of those indices that are going to have to kick this thing out means a lot of fund managers and index funds will have to kick it out, which is probably where the selling is coming from. but if you're jim, you don't have those restraints, and so you can get into something -- and i'm not in the stock -- but you can get into this while other people are forced sellers. and that could be advantageous in a world where index funds are so influential. do you guys agree with that? >> well, one thing i'll say, josh, maybe the reason it's up today is certainly not because i'm buying it but because they are doing a reverse split, which the idea is to get it over that $5 threshold, which for a lot of institutional managers is that floor. that speaks to that. but, yeah, what you're saying, this is no longer a dividend aristocrat, i'm saying that a little bit tongue-in-cheek, there are going to be some forced sellers here. >> the other area of the market

i think has gotten the most scrutiny of late, and deservedly so, is the chips space. for the magnitude in which a lot of these names have gone up, and not just nvidia, we've gone down the list almost every day. super micro, amd. you mentioned you're uncomfortable with some of the exposure in that space. you trimmed nxp. tell me why. >> first off, it's a sector call. i was too overweight. i'm 14% chips and chip equipment in my portfolio. i'm bringing it down to 12%, which i think the other investors here will say that's still pretty high. you have to trim your winners along the way. nxp has been a solid performer and part of its business is tied to automotive. that's the obvious candidate as far as where to trim. qualcomm has had a heck of a run. it may step back a little bit before going forward. nxp, because of the duplicative

aspect with gm. >> it takes me to another stock and another committee member, and it's apple, which has had no momentum, to say theleast. and today,a market in which you're getting a bounce in nvidia and microsoft and meta and amazon and tesla and alphabet and amd and uber and costco and a lot of these big momentum moves, apple is red. and yet you bought a good amount more. you've added substantially to it, you say, which is now a 5% position. talk to us. >> yeah, it held up better than the big six, if you will, over the last couple of days. this is not a mag seven play at all this is a stock that's down 13% from its highs. we know that the numbers have come down for the april quarter. we know that already. we know that china is weak and continues to be down double digits, but i do think that the april quarter will be better than expected.

i think services will continue to grow double digits. i do think that the earnings picture will be double digits. margins will continue to be a bright spot. iphones are not going to be a bright spot, but i'm not buying it for that. i'm buying it because the stock is down a lot. it's trading at 26 times revised numbers, historically it's traded at 36 times, so i think it's actually a bargain. april quarter i think you're going to get a buy back, a new one. maybe it's $90 billion. they could certainly do more. in june we get wwdc. we'll hear about a.i. and what that means for iphone 16 and the pricing power that they're going to have. so i've been underweight this name for a long time, and i'm still underweight because it's 7% of my bench, but i do think it's an opportunity. >> this is always viewed as the buyback being a bit of a backstop, if you will, because they buy back more shares than anybody else. >> sure. >> they're going to ideally take advantage of what's happened to that stock.

but something is peculiar when this thing can't get out of its own way lately, and what gives you the confidence it will be able to do that? >> well, i don't have the confidence that it's going to start working tomorrow, but i do think that this is an opportunity for the longer term. a.i., even if they make good announcements in the summertime, it's going to take a long time for that to kind of go through and filter into the numbers. i just think right now it's so down-and-out, it's so really not liked at this point in time, right? >> that's an understatement, right? >> you've had a lot of downgrades, and that's fine. i understand why there would be downgrades. i'm trying to take the other side and think longer term, because i still believe in this company, in the story, and the products. >> okay. so, jason snipe, i mentioned nvidia is bouncing with several of the other names, back above $900. it got to a high late last week, friday, of $974, $975, somewhere around there, and then it had that massive reversal, and it got people saying, okay, maybe

the momentum trade is done. maybe nvidia has topped. maybe the momentum trade is over. maybe it's too soon to declare that specific issue, the death of the momentum trade is here. because today's market would have you believe otherwise. >> right. so i think, for me, when i look at nvidia as an example, it was 84 last week. today it's 65. there are some reprire-pricings. i think that trade is definitely not done. i think it's just taking a break, it's digesting some. and i think it will continue to do well throughout the year. i think it's a digestment at this point. >> how, josh, would we address this? there are a lot of notes passed around on the street about this very topic, about the so-called momentum trade, now we're having a rotation that, you know, maybe

the rally is -- some say the rally is tired. others would say, it's not really tired, it's just rotating. how would you address this trade? it's been the most important trade in the entire market. >> i've been saying for three weeks now, talk to me about anything but mag seven. i'm not interested. those stocks one by one are breaking up trends and sitting in no man's land. there's nothing wrong with that. these are some of the biggest winners of all time. there are other stocks. i look at the best 100 stocks in the market every week. monday morning, show me the 52-week highs with earnings growth, with technical setups, and, increasingly, they're happening away from the top ten nasdaq stocks. and that's great. it doesn't mean the nasdaq stocks can't also go up. i own them. i hope they do, forever. it's great. give me ten more oracles.

that's not the story right now. the story right now is in travel. it's in anything related to the consumer, financial services. can i show you a chart, please? can we put up pfizer, fi? other than stephanie link, raise your hand if you can describe what this company does. look at this stock. will you look at it? it's not mag seven. it's not a.i. there are so many charts like that. look at marriott, mar. the ceo from delta just said last week was like the biggest week they've ever had. >> you need to broaden the charts out, too, beyond -- there you go. >> let's not do four-hour charts, guys. look at marriott, mar. if this breaks 250, what is stopping it from going immediately to 300? i don't know. it's not ai. so there's nothing wrong with nvidia continuing to go higher. i have no problem with that. i'm in it. i want anything but microsoft,

apple, alphabet. it's not where the winners are right now. they're pretty much happening everywhere else. >> jason snipe, wolfe says excess in the market is starting to unwind. josh is speaking to that. even as the momentum trade was working, though, the stocks josh is talking about, you know, we mentioned those throughout the last couple of weeks as other areas stocks were hitting new highs. we said it was the marriotts, a lot of industrial names, some of the consumer stocks, the financials like jpmorgan, bank of america. >> right. >> to his point, these other areas that have been working sort of below the surface, they just haven't been getting as much pub or love as mag seven or around the other areas of momentum. >> yeah. i mean, because they're not up 80% like nvidia is, right? but, to josh's point, marriott, costco, you know, a lot of the

industrial names, health care, energy, staples -- a lot of these names have done well over the last months and year to date. again, it's a broadening out that we continue to talk about week after week, but i think this is the real deal because we talked about it a little bit in november, and i think it was a dovish pivot from the fed and a pump fake. i think this is real. >> it's because of earnings. comp services up 9%. but health care was up 8%. financials were up 6%, 7%. industrials up 6%. so if they're up just as much as tech, why shouldn't they -- >> the price action should follow. >> that is exactly what is happening. >> if you look at the alleged narrowness in the market, said to be flat-out premise. if you look at client flows, jim, people are buying stocks in many of the different sectors

beyond just tech. it might be led still by comp services. but staples the eighth in history. materials, seventh largest in the history of bank of america's equity client flows. so there's money going to all sorts of different places within the market, and that's one of the reasons the market looks like it does even if an nvidia and some of the others don't necessarily work on a given day. >> i think that's exactly right t . to steph's point, when we talk about nvidia, apple or microsoft, we say you're paying up for higher growth rates. when we've looked outside of tech at these more cyclical areas like materials, like financials, what i've said is, relative to these prices you don't need the same growth rate in earnings you will get from nvidia. you don't have to look for that. that's why financials have been doing well. materials the same thing. this comes down to the idea the economy is still going to do well and people are going to be employed. they are going to pay their

credit card bills, their auto loans. things will get constructed whether it's houses or factories. relative to their mris prices, these stocks are very attractive. >> i feel like the cpi today was a nothing burger, not to overplay it, but it was, you know, pretty much in line. we know the fed is not going to do anything this month anyway. >> and probably not may either. >> it's meaningless for next week. by the way, if you look at the probabilities of the june cut, barely budged after cpi. why? because, if we think the fed is not going to do anything until june or july, we have many more reports to come before then. >> that's the line in the sand. >> and the pce, by the way, is closer to -- >> that's exactly right. >> -- closer to the number, so to speak than cpi and pce means more than cpi. >> 5.6%, we are now at 2.8. that's the number they look at.

in the cpi numbers today, there are a couple of encouraging data points. owner equivalent rent coming down from 0.6 to 0.4. we have a long way to go there. food away from home fell 4.5%. so i kind of think there were some encouraging pieces to the cpi number. i'm encouraged by core cpe, higher productivity, that all speaks to inflation eventually coming down. the last is hard to get down to 2%. we're on a trajectory to get there. >> we'll make that the last word. we'll come back with our "chart of the day." it's oracle. the names, the trades, we're doing it all in just two minutes. >> announcer: e aryou following "the halftime report" podcast? what are you waiting for? look for us in your favorite podcasting app. follow "the halftime" podcast now. so we don't have to worry. empower. what's next.

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♪ all right, "chart of the day." it's oracle. said that before we went to break. it leads the s&p today. look at that nice chart, almost 12%. jimmy, you own it. and this was a stock going in that, with all the a.i. hype, seemingly everywhere else, this thing got none of it. none of it. and here we are post earnings

and it's getting a nice bump. not saying it's a.i., but finally this stock is doing something. >> it was doing something until six months ago and had two quarters in which what it did, hey, we're building out these data centers to support our cloud initiative, but in those two quarters they weren't showing immediate results. this is where a long-term investor says do you trust the management? do you trust the strategy? we did and the strategy is paying off. the data centers they built are being used. they need to build more because orders are piling in. their backlog is tremendous. no discussion whether they should be building these data centers, it's how much more should they be building? the stock is up today, and that's just recovering what happened over the last six months. i think it's going meaningfully higher from here. if i look at yesterday's analyst estimates trading at 20 times fiscal year '25 estimates. morningstar has it at 18 times

fiscal year '25 estimates. estimates are going to go up and for good reason. the stock is undervalued at this price. >> josh, you used to own it, and it wasn't that long teenager. -- long ago. >> the revenue shortfall wasn't that big of a deal because what people want to hear more about is demand related to a.i., and those are the magic words. if you say those words in a press release or on a call, you have everyone's attention, and there's more buyers than sellers. oracle is delivering. it's not a fast growth name. it's not the biggest name in cloud. they made the decision to go all in on cloud and focus more on that than database or traditional software, and it's worked. i don't really know what else you would want to hear from this company. >> big day. we're at the highs of the day for oracle.

we have a number of new highs, a number of yours, mr. snipe. stryker, back to the ipo and 79. >> listen, no, this is what i'll say about stryker and the medical device period. elective surgeries are way up. they have a really strong pipeline of new products coming online. glp-1s are having an impact on bmi. more folks are eligible for procedures they were not eligible prior to. that's also playing into the price action for stryker. >> all-time high for colgate palmolive. back to its first listing here in 1930. >> i'm glad it's finally participating. we were talking staples earlier. organic sales are performing above their target of 3% to5%.

they're doing very well there. they're maintaining their margins and are very well-known brands. >> highest level for p&g, too. >> similar story to colgate, continue to maintain their margins as well. organic sales are up 4%. this one continues to move. >> steph, back to its ipo, cdw. >> and the turnaround hasn't even happened yet and that's the reason i actually own it. gross margins continue to expand. free cash flow is better than expected. this is a sleepy, quiet one. reminds me of ibm a couple years ago. i think this has more legs to go as we get the recovery in pcs. >> what's up with your home depot? six straight days of losses. >> at least it's up today. >> what's up with that? >> it was up 31% from the october lows. it's had a nice run.

they reported a number i thought was better than feared. they still have negative comps, as do a lot of the retailers at this point in time. but i think that you're going to get easier comparisons as you go through the year. free cash flow is better than expected. they raised the dividend and so i think this was a laggard last year that is a leader this year. it will take time. i am a bull on housing and recovery. i think we'll see better results as we go forward. >> jason snipe, goldman sachs, down five straight days. just mentioned a lot of financials have been doing quite well. what's up here? >> it's been struggling as of late, for me, i'm thinking about the second half of the year. they are unwinding that personal finance business i think is

important. they were getting killed for that. it hasn't performed in the short term. we'll see in the second half. kate rooney has the headlines. hi, kate. special counsel robert hur continues his testimony on his investigation into president biden's mishandling of classified documents, earlier today he defended his descriptions of the president's memory in that report. >> my assessment in the report about the relevance of the president's memory was necessary and accurate and fair. most importantly, what i wrote is what i believe the evidence shows. health and human services secretary xavier beccera in a meeting today to make more emergency funding available to those affected from a cyber attack on its change health care payment division three weeks ago, according to a new report in "the washington post." health care providers saying the emergency loan program is not

enough to cover their needs. and most automated driving systems aren't good at making sure drivers are paying attention. a new study from the insurance institute on highway safety found many don't issue strong enough warnings to drivers. only one of the 14 systems tested performed well enough for an acceptable rating. that was teammate in the lexus ls, scott. ker to you. >>ate rooney. coming up our "call of the day." slb, fedex and lamm research. ownership all the way around. so. their solution for us? a private 5g network. (ella) we now get more control of production, efficiencies, and greater agility. (marquis) with a custom private 5g network. our customers get what they want, when they want it. (jen) now we're even smarter and ready for what's next. (vo) achieve enterprise intelligence. it's your vision, it's your verizon. they're waiting for you. hey, do you have a second? they're all expecting more. more efficiency.

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♪ all right. welcome back. let's do some "calls of the day." a few to get through starting, steph, with slb, former schlumberger. overweight, price target 62. what do you think? >> i like it. it's my largest energy position. it trades at 14 times forward estimates. number one player in the industry, remains resilient. that's 80% of revenues. offshore is 50% of that 80%. that's just getting going at this point in time. margins in the mid-20s and going

higher. free cash flow, they had a billion dollars more in free cash flow in the fourth quarter alone. that's why they raised the dividend and expect more of it. >> jimmy, you own transocean and exxon. >> the highest beta you can play in the oil market. you mentioned offshore, where the marginal drilling will take place and these day rates are approaching $500,000 a day. they're not there yet, but everybody in the industry is looking for that contract that will come out any day now that's at 500,000. that will propel the stocks higher. >> jason, it's clear goldman sachs doesn't exactly love fedex. they don't hate it, but they lowered the targdet from to 291 from 293. as they say, it's likely that near-term headwinds remain. >> and there's no doubt about

it. the momentum in the stock has really broken down the last six months or so. a strong 2023. very weak 2022. near term headwinds, trade disputes there. what i do like about fedex, they have some longer term cost reductions of $1.8 billion that are permanent that they are looking to import on the company. i think that will be a propeller, very strong balance sheet, consumer growth, ecommercial, i think, are still tail winds. >> strange you would reiterate a buy and the next three bullet points are lowering estimates by 12% for fiscal year third quarter. also lowering fiscal year 2024 estimates, and then, as i mentioned, talking about near-term headwinds remaining, but, oh, yeah, reiterate buy. >> and i think there's some margin pressure as well. it's a mixed story with fedex and they have to get through the

nearterm hurdles. >> lam research. price target stays 975. >> i like the story very much. it's a very big position for me. it's all about wafer fab equipment demand and recovery to about mid-80 billion this year. that's down from 100 billion. there is a lot of upside potential. advanced packaging, it will be a billion dollar business, up threefold all due to a.i. i think that this company has re-rated on a multiple basis 25 times, but i think there's other growth areas that have yet to be appreciated. we'll take another break, come back. we have to get to kemi santoli with his "midday word." we have one of jim lebenthal's stocks on the move after earnings. so we'll do that. winners and losers still ahead as well. we'll come back after this quick break.

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all right. we are back. senior markets commentator mike santoli with our desk for his "midday word." two things i want to discuss with you. cpi did nothing to change the story. pushed yields up a tiny bit. the russell goes down on that, but, otherwise, status quo here. >> for the most part, yeah. what the market mostly wants is the permission to ignore macro as much as possible or at least just assume that it's taken care of itself in terms of general disinflation, growth coming in better than expected. i think there was no real reason to start ramping up your worry out of the cpi. 0.3 estimated. not a big deal. the bigger question is, you know, did cooling off the overheated parts of the market for two days do the trick? does that refresh the market, or is it still just kind of attempt to go restart the old playbook? >> and to your point there, too soon to declare still, i think,

this momentum trade dead? >> that's right. >> given what's happening in many of these names, as we highlighted already, go down the list -- nvidia with a 5% bounce today, but it's not the only place. uber is back green. costco is green. jpmorgan is green. a lot of these points of momentum are back today. >> they are back today. and that's what i mean by it wouldn't take much to get them right back to those overheated vulnerable points. we didn't get a real reset here. do we need one? i don't know. maybe not. it doesn't seem as if there's enough kind of hesitation about were they too crowded, were they too overowned? were people relying on them too much? the reassuring piece is they cracked a bit, nothing broke along the way and it seems game on. the oracle report just gave everybody the clearance to say, okay, this is going to be bigger than we thought. >> it remains a self-correcting

market. >> to a degree. >> to a degree in these areas of alleged extreme or approaching that level of excess. this market has had a unique ability to just fix itself reasonably quickly. >> for periods of time, yeah. it's sort of explaining what a bear market does, retate and have these sort of rolling rallies and pullbacks instead of just, you know, risk on, risk off, everything goes up, everything goes down. and it has been reassurance. >> i'll see you on "closing bell." mike santoli. we do have a trade update from josh after this quick break. one of the disadvantages that we might have as women becoming leaders in business is that there are fewer examples in the world of women in leadership positions or in certain industries. if i dwelled too much on that fact, i might not have had the

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♪ all right. welcome back. josh, so there was a couple weeks ago, i guess, where you said there was one chart that stood out to you more than any other in this market, maybe the best one that you've seen. that was fpfizer. >> not the chart. the chart is the worst i've ever seen. >> which is why you bought it, one of the reasons you bought it, my bad. but talk to me. >> yeah. the stock hit a low it hadn't seen on march 4th since 2012,

and that's pretty unique in the s&p 500, and there were legitimate reasons as to why the stock had been in a downtrend for the last couple of years, most ofthem having to do with the pandemic, and just a really bad bet on going over the top with covid stuff and allowing the portfolio to wither. but that's changed and they have made a huge 40-some-odd billion dollar acquisition the cgen, the leader in what is arguably going to be the next generation of cancer fighting drugs. and so if you think about pfizer today, you're basically paying 10 or 11 times earnings. nobody thinks there's any growth coming. if you listen to the company talk about how transformative this all-in bet they're making in oncology is, you understand what the opportunity could be a couple years out. and i would tell you, scott, we

talk about tam on the show, talking tech, 20 million people around the year will be told they have some form of cancer. 2 million of them will be in the united states. 10 million will die. 600,000 of those who die from cancer will be right heads like what the hell was that about? what are they trying to say? they're going to make the fight against cancer the story of the company between now and 2030. they'll go from five blockbuster oncology drugs up to eight. they're going to take the biologic there is 6% of their portfolio to 65%, and i don't think that this stock is pricing in any of that potential at the current price. so it's not a momentum name. it's anti-momentum. but i think it's cheap and misunderstood and i'm willing to be patient. i added to it this week, i'm not trading, i'm investing. >> jimmy, on casey's general, which we had you give us the

setup on coming in, the stock is down slightly. what is your takeaway? >> it was a final quarter. this is a stock i just bought about two weeks ago and something i'm looking to make a long-term investment. it would have taken something dramatic to kick me out. they beat on the earnings. revenue is a little light because fuel volumes in the quarter were a little low. reaffirmed guidance. i like the setup for the long-term. they have a great gee graphical foot print in the midwest. customers like what they sell, the food that they sell. i like the setup here. up next, "two big winners, two big losers" after the break. (grandpa vo) i'm the richest guy in the world. hi baby! (woman 1 vo) i have inherited the best traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give

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we're back with "two big winners, two big losers." we begin with 3m. stephanie, you don't own it, but i know you have thoughts about the ceo change. best day since june of last year, the best performer today within the dow. >> bill brown is the real deal. he was at l3 from 2011 to 222, the stock went up 322%. this is like ge redo. if i had cash, i would be buying it, because the stock is very cheap. it's a lot of ways to win. >> another winner, speaking of, is aap, advanced auto parts, striking a settlement with dan lobe's third point.

and then losers, i'm coming back to you, stephanie. boeing is on the list. >> yep. >> i don't know how many timsz -- times we're going to mention this. >> seems like every day. >> jim threw in the towel because he was sick and tired of these stories. >> hard to defend, but i think longer term, they'll get through this, and the duopoly is very powerful with airbus. and global demand is still very strong. so cash flow is improving, but you've got to get the headlines out of the way for the stock to at least settle down. >> southwest also down substantially today, double digits, the worst day since march of 2020. plans to reduce capacity and re-evaluate the financial outlook because of fewer aircraft deliveries from boeing. quick break and "final trades" next.

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pgim investments. shaping tomorrow today. so this is pickleball? it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him.

good game. thanks for coming to our clinic, first one's free. i'll see you on "closing bell" 3:00 eastern. i can't wait to take you through the final stretch and see if we can hold onto this positive move and see what momentum is doing at that hour, as well, led by nvidia, which is still having a nice day. josh brown, your final trade? >> i'm going to give you pfizer. long and strong. >> all right. adding to that as you told us earlier today. farmer jim? >> alphabet. i think this one is coming back. the failed image generator is much like what happened a year ago when it came storming back after that. >> that will be one to watch, for sure. >> jason? >> progressive. solid earnings, 26% long-term growth. i like this one. >> but you don't own it.

>> i don't. got our eye on it. >> stephanie, housing was your contrarian play of the year. >> yes. >> dr horton here, which you don't own either. >> i don't yet. it's trading at 11 times earnings, and spring selling season is here. that will be very positive for the stock. >> "yet" the operative word. see you on "closing bell." "the exchange" is now. ♪ ♪ welcome to "the exchange," everybody. i am brian sullivan in for kelly. here's what is ahead. a slightly hotter inflation print may be pushing fed rate cuts further down the line. the markets pricing in a 50-50 chance in june, but wall street largely shrugging it off. the s&p and nasdaq set to snap a two-day losing streak. boeing down again, after "the new york times" reports it failed 33 out of 89 product audits. and its february deliveries trailed airbus.