eate a retirement-income plan designed to balance growth and guaranteed income. and provide access to specialists who help with estate planning to look out for future generations so you're not just growing and protecting your wealth. you're sharing it. because doors were meant to be opened. great job, everybody! ♪ welcome to "power lunch," alongside kelly evans, i'm dominic chu. coming up on the show, big tech backlash apple's new ad drawing criticism. worker morale is apparently low, we're going to dig into that story. >> so many companies with big moves. we're beefing up the three stock

lunch. first, a check on these markets, though, the dow is up 0.6% lee munson thinking 5400 is next for the s&p 500. take a look at shares of sinclair sources are telling cnbc that the media company is looking to sell more than 30% of its 185 owned or operated -- o & o broadcast stations, those shares up nearly 15%. we're carefully watching consumers. several food companies reporting results. cheesecake factory beat on earnings krispy kreme's heart-shaped doughnuts was the bigger day of selling.

>> i have to admit, since they are started selling in grocery stores, my waistline has increased. this new ad for its brand-new i pads, it shows musical instrument, lit wally getting crushed, seemingly showing you can do all of those things on a new slimmer, thinner ipad, but many are saying that the i up and down and apple are crushing something else, and that is -- humanity. steve kovach is here with the story. this is kind of polarizing, mostly because of the reaction i saw the ad i immediately didn't think, my god, humanity is being crushed i did. save the piano >> it was like the dress >> yeah, exactly will i i had

the same interpretation, cool, they're showing that the ipad is thin, amazing, they didn't just crush creative tools, but angry birds, arcade machines but, i guess it's like a dark -- >> you have to admit go back to the first ad campaign for the ipod, the colorful sit owet. this ad is no the that >> i understand. it's the weird sonny and cher song, but it shocked me how polarizing this. senator murphy of connecticut was tweeting, saying how upset he was. >> hugh grant is upset about this, all replying to ceo tim cook i get it i understand why this is upsetting to some people, but it's mazing how the interpretation is. this came out 48 hours ago, and it was part of the event they

announced the new ipad i thought nothing of it, okay, cool, it's thing. >> apple right now is in the middle of a societal, like, comeuppance over the impact, and they choose to drop this dy dysstoppian thing. i debt what they're trying to do but i think it was just the lighting is really dark, the music is weefrld, it's slow motion, i get why it's upsetting. >> i had to be told why it's upsetting. >> same. >> my initial reaction wasn't all this hey, all of this is being creative >> this is really the dress all over again it just depends on who you are

and your background. >> the only reason i mention that aspect, this is a moment where the company has to adjust, hey, we're just innocent, fun technology, and it doesn't capture that sense maybe they don't feel like they're on the defensive, but the next couple years, they'll realize they will be. >> this is what we're wailing for apple to show us people will forget about this ad in no time, i think the real show is june 10th, what is going to happen with artificial intelligence they talk about it with this ipad, by the way, not really showing what it means or what it can do, but what the gets unlocked some of the criticism is a.i. is ruining our jobs, here it is doing it again, it will make art in place of humans so, i get that aspect of it now, but i had to think about it. >> i literally had to have it explained to me. kelly got it right away.

>> i think it's pretty obvious stay with us, though we do want to talk about google. it's the employees' spirit being crushed. a new articles writes about a decline in morale after blowout earnings they did announce a first-ever dividend in a buyback. jennifer, how did google respond to those comments? >> going the may have reported blowout earnings, but celebrations internally have been a bit more muted, just exacerbating already growing discontent in internal morale. the all-hands meeting last week included the ceo and cfo, who responded to this in some vague terms. in other ways they turn it

around on employees, and sundar at one point joked about griff giving employees a 101 question, and a rare admission in the planning for the company in the last few years they got so many questions about this they had to address it at length and came up with different responses to take a little more response, but also say, look, we're in this new era, it's just hard for employees to listen to this when they are getting laid off pretty regularly and seeing some jobs offshored to itchedndia and mex last week. >> how much of your reporting has just gotten into how pervasive this issue is? it seems like, yes, it's certainly a cause for concern. how employees are likely to

quit, leave or find something else in this environment, when it seems like other tech companies are not exactly hiring gangbusters as well right now. >> dom, taz ahat's a good point the employees are among the smartest at the same time, it's a competitive a.i. market. a lot of these companies, including google are asking employees to move back to very expensive locations like the bay area, which even with a google salary is still sometimes not easy to buy a house, for instance there's a lot of things playing into this that have bubbled up over the last couple years, but also a lot of them tell me they're resigned to what's happening in the market. >> steve, a, it doesn't have a cutting-edge story and b,

perhaps in a moment in their lives when they value not having to go into the office. >> google is not a young company anymore. this is grownup stuff. no ball pits and slides and free massages now they're facing reality, hey, we over-hired during the pandemic that's on leadership during the pandemic, and now dramatically coming back, and doing -- actually amazon did these, too, doing rolling layoffs. it's every few weeks we get a headline saying that's. >> that's probably why the morale is down. >> how can you work on the next leg of the company if you don't know if you have a job, because in a couple weeks, here we go, another announcement >> i was just out in the bay area, silicon valley last week, talking about this, and people are fed up with the bureocracy that's the vibe i'm getting, how

they can't get out of their own way to make a.i. happen. >> is there more to cud or whether a sense these layoffs are complete >> they said, i think, in that meeting that jen reported on, no, there may be less or fewer cuts, but there will be more a lot of these people have an opportunity to start their own a.i. company that's more nimble, less bureaucratic, but how many are middle manager type of people -- jen, maybe you can speak to that. >> yeah, they realized they had so many middle managers, but they're taking it a step further and off-shoring some jobs, firing core engineers and hiring in india and mexico. so it's really happening in so many ways, and in some ways to employees, it's a little too little too late. >> jennifer elias, steve kovach,

thank you both very much for the discussion google is facing heat for allegedly cash with shareholders, but not with the workers. what message does that send to smaller, private companies deirdre bosa joins us with another angle to this tech story. >> so, dom, i love that adeck note that jen shares, that maybe he needs to teach a course on finance 101. if you're a public company, you have more stakeholders, you have the employees, outside investors, shareholders big and small. there's a lot of scrutiny that goes along with being a public company. that's what some startups and founders are wanting to avoid. they can't, because billions -- they remain in the private market for the right kind of start-up, of course. for google, being public, that

can sometimes feels like lose/lose. employees work about the value of that you are options. shares outperform, and others stake sure with the buyback and dividends, sag why doesn't that go to increase in our wages? typically it only change when a start-up needs to raise more money ownership increasingly do secondary sales, and there's increasing ways. i was at a soft yesterday with the cloud cybersecurity company, and he just raised a billion in the private market he told me he considers an ipo a key milestone, but the bar for getting there is higher these days he's targeting a billion in a.r.r., more than what bloomberg

had when it went public a few weeksal. when you see stories like from google when you build in private, longer-term investors. >> dee, it feels like a pendulum in perpetuity? >> that's a great way of putting it. >> it is at some point in market history, there's been this desire for companies and their founders and executives to stay private, because it keeps them a little more in line with their vision they don't need to raise public moan, and not have the public scrutiny and other times, yes, they just want to cash out this feels like it would keep swinging back and forth, but at what point does that change for employees, the lifeblood, the talent that goes into they private companies? >> employees want liquidity. they don't want to be sitting on paper cash it's hard to buy houses, to

increase their quality of living with that. there's a bit of a push and pull, but the secondary transactions is helping us let companies stay private for longer, but the other part of this, dom, is an ipo can be a marketing event, for companies that need to win over fortune 500 or fortune 50 companies. it helps to be public. you know, in terms of the pendulum swimming, we saw a downturn, but like i said, for the right kind of company, there are still billions available to them, not justfrom vcs. >> we'll see how much hiring they can do as well. thank you, deirdre a pulse on payments. we'll get an insight into consumer spending. we'll do our power check on the plus side is equiknnix.

on the downed see is epam. that's your power check. we're back after this.

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shares of shift4 payments are higher the company reaffirmed guidance and gave's update on potential bids to acquire another company. the shares are up about 2.5% jared isaakman is theman who founded the company when he was, get this, just 16 years old. here is our morgan brennan to

bring this conversation. >> jared, thanks for being here today. i am going to start with the acquisition, the strategic review process that you gave an update on, because it came up on the conference call, the fact that the ball refused former offers you're not moving forward with any of it. what you said in the shareholders letter, i want to ensure that shift defend 4 is problematic for the competition until the time they choose to make the problem go away >> first, thanks for having me we're a public company people buy and sell our shares every day. if they want to, they can buy it all. i think, you know, we went through a strategic review process. the reality is we're just growing really fast.

we're in a process of over 17 on billion, growing ebitda over 30%. so the simple reality is the price keeps going up the longer people take time to what price they want to pay, the price will keep moving we're obviously still executing on our game plan we've had a number of's system wins, another good acquisition we announced so we'll keep running or playbook again under such time that somebody finds this problematic enough to make the problem go away. even at the top and bottom lines in this consensus estimates. the fact that q1 tends to be seasonally softer than other parts of the year. you do have a have you unique viewpoint into the consumer, whether it is restaurants, hotels or stadiums, emorse --

>> by the way, we loved the results this quarter from our perspective, we blew them out the hard part is because we were going through a strategic review, we couldn't engage with analysts like we would usually do >> we're taking share. a couple key verticals, a lot of concentration to get a pullet from the consumer in restaurants, i would say, it was relative flat in terms of same-store sales growth. we returned, in restaurant now, the one that's been a standout is hotels i mean, we've just been watching this for the last couple years,

it's oust fastest growing vertical they're still positive through the first quarter. >> jared, is the fact that you have such success on that side of the business with hotels, even more broadly the experience market overall, more of your function of the market share, or do you thing it's more macro in nature, travel, leisure is still on a steady path higher? >> look. it's that helps us, but we're growing volume, same-store sales improvements in the low single digits, hotels could be up another 3% hypothetically in april. that's not moving the overall numbers for the organization, but just a good sign to know

that consumers are still getting out there, still traveling, like that's obviously something we're all paying close attention to, but i mean, our growth, and as it's been -- we've ground revenue and volume in double digits for 25 consecutive years is far more a factor of taking a share, how we're structurally set up to win versus any real macro conditions. >> certainly investors seem to be wrapping their heads around it i would be remiss if i didn't ask about palace ir, your second space flight, the highest orbit that humans have -- and first-ever private spacewalk form the suits were just unveiled a couple days ago, and now a launch wind in early summer walk me through it, as we see the boeing starliner capsule waiting to get off the ground.

>> sometimes around 7:00 a.m., i was wishing i was on another pl planet that will come soon enough spacex is an extraordinary organization, our philosophies around execution, like sit lit really wasn't us to become the spacex of fintech. i think that's shown in their suits, and they're helping to enable a lot of extraordinary things what better vision than opening up space so everyone can journey among the stars. we have some awesome objective we're still raising funds for st. jude's, and we hope to get to the pad in a month or two. >> thank you for joining us. jared isaacman, thank you.

and roblox falling 30%, a bit off that, we'll break it all down in today's three stock lunch. (ella) fashion moves fast. setting trends is our business. we need to scale with customer demand... in real time. (jen) so we partner with verizon. 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. ameritrade is now part of schwab. bringing you 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.

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welcome back to "power lunch. a big interview tomorrow we have two, count 'em two, neel kashkari on the left, austan goolsbee on the right. that's at 2:00 p.m. eastern time tomorrow we know how comments from fed speakers like these can sometimes move markets it's something to watch for sure there. an exclusive interview at 2:00 p.m. eastern time. now, what's happening today with bond yields, rick santelli in chicago has more of that story. >> yes, dom, a double whammy no the market one, initial jobless claims going back to august they popped at 231,000, the highest level since the end of august let's call it an eight-month pop. when that happened, one of the things, one of the markets paying close attention was the dollar index

looked the way it fell as initial claims popped. and, if we look at what's going on with respect to the dollar index, well, let's look at other majors even though the dollar was down here, it was the yen that was down against the dollar, the pound and, of course, the euro currency you see that chart starting at the beginning of the month of april, and how, after testing the 160 level, all the currencies are starting to rally against the yen. we want to pay close attention to that because of the rumor the intervention and what the half life of that was and it was best of brief, $25 billion. when it hit the wires at 1:00 eastern, i gave it an a minus for the grade. we know that chairman powell

says that's one of the key ingredients in 2024. meanwhile, it's groundhog day. we have another solar stock declining. >> this is solaredge hitting a five-year low after another disappointing quarter. that is margins were negative 6.5% they gave weak q2 guidance that's way, way short of the almost $1 billion the company was earning less than a year ago, so beat is relative there i did speak to the cfo, specifically batteries into the u.s., and then he said because the revenue has come down so much, the specific sales had a larger, and an outsized impact the revenue has come down because there's simply too much

product, so they're selling less to distributors, so the during this timers can work through the excess inventory demand has slowed, but not as bad as the numbers currently look byron told me he thinking the inventory issue will be resolved by the bend of the year. >> same with evs, just too much supply. >> higher rates, and higher costs. so that has a big impact. >> pippa stevens, with the latest, thank you. now over to bertha coombs for a cnbc news update. donald trump's lawyers told the judge in his new york hush money case, they plan to remove a call for a somes trial after stormy daniels finished her testimony. trump's legal team says it will fight testimony from karen

mcdougal the judge said he would send the jury home at 4:00 to hearing arguments. israel says it has who it needs for a ground offensive in rafah without the u.s. equipment. and harvey weinstein is back at new york's rikers island jail, as he awaits a retrial in his overturned new york rape case in a brief court hearing this morning, he denied his consent to be extradited to california, where he was convicted in rape in at separate indication, citing serious health issues. coming up on the show, you've got a deluxe three stock lunch ediagnose here, because bigger is always better, i think, radio i got we'll bring you the story and

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time for a deluxe three-stock lunch. we're going to give you the story and then trade even one. our trader is brian denwig, but first, we'll go to julia boorstin on warner bros. discovery. >> shares first fell on quarterly results, the mixed expectations on the top and bottom lines, as warner bros. -- the much larger loss and anti anticipated, but shares are up nearly 2%, which is bolster by -- the direct-to-consumer streaming, and streaming ad revenue 70%. this is in contrast to the 8% decline in tv revenue.

steve zaslov says it will -- though he didn't share timing or pricing of the bundle. the most important and significantly positive development is news of the bundle we believe that would push the rest of the media group to announce similar dealings. he says he's still in conversation with the nba and he has the right to match third-party offers, seemly -- that nbc is securing tnt's nba package. >> so many variables at play brian, there's a lot of positives in her report. is it positive enough for you? >> thank you, dom. even though streaming looks like

it might be the future, there are or segments of the business, with all those conflicting variables, this is one i'm looking to stay away from, and would sell at this point for me, and the way i look at that, when you look at the other business mod 8s, you have within their business, you have television, movies and gaming, and these are all highly competitive segments, and also just the fact that sports rights are kind of up for grabs, so to speak, or a jump ball, no pun intended, where with the nba being the crown jewel. so i'm going to wait and see how it plays out. roblox, the shares tanking 20%. steve kovach brings the store. >> down as much as 29%

premarket, that's what i saw it's all about the guidance. they managed to beat on the to and bottom lines, but guidance for the current quarter and full year is pretty rough it saw a lot of weakness it turns out the problem is more technical than anything else, at least according to the company i cause up with the ceo on these results. he told me at the end of last year, they launched a bunch of new features which caused a lot of hiccups especially on android devices. he said, well, people won't spend as much time and money on it so some things to watch, the ad business, stilling rolling out slowly they launched video ads in the game for the first time, and once ear trend bucking the trend, no big layoffs like we have seen at other gaming

companies like sony, taketwo, microsoft, for example >> what's your trade on roblox >> kellie, great to see you back. >> thank you. >> what i'm seeing is there's an aging demographic issue, and also the fact we saw lower spending from consumers as well in the roblox universe so, moving forward, as much as they are making some changes to try to increase revenue through ads and other initiatives, whether we think about an environment where people have more choice of where to spend their time and where to spend their dollars, that's the concern i have so this is another one i would take a step back from. the last thing i would say is, also, the market has spoken. it's down about 80% from there,

so i think from a valuation and business model perspective, some concerns moving forward. >> all right there's the trade on roblox. the final name in the hopper are planet fitness brandon gomes has the story on this one when i first did the report this morning, these shares were decidedly lower. it's the turnaround story of the day. they were down double digits then fell on a -- cut guidance for the year, even craig benson, and, yes, covid concerns weighed on the quarter so why the turnaround? despite those warnings, the company is full steam ahead with the hike of base-level, from $15 to $10 that's a big deal. it's the first hike in base

rates since 1998 worth noting, lifetime fitness focused better than expected results, but they do have an older, more affluent customer base dom, some other factors to consider, the new ceo starts june 10th. it's still looking for its new cfo. it's waiting to hear how much of the planet fitness weakness so far, and how much of it is the strategy >> the story i heard i was a planet fitness member, paying the $10, now it's costs 50% more, right? >> actually, i like this story with planet fitness. we saw growth both in the top line and bottom line they're still holding to an

outlook of expanding locations through the balance of the year. in the short term, there was some concern that advertisin that they thought would generate more growth really didn't hold, and captured consumer attention, primarily due to price because they are more of a cost or value focused gym membership, as compared to others in the segment, i think there's durability and resilience around that if we do see a slowing services part of the economy, i think planet fitness has a place to play, dom. $15 may want to get you out there to pump in iron. >> brian vendig, we appreciate it we'll see you soon. and still to come, wee sell doubt with billionaire and tech founder bob parsons will be in the studio to discusseshi news

book >> this is one of the morse colorful guys in american business. >> we cannot way to talk to him after the break.

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welcome back over the years bob parsons has par laid his partnership int entrepreneurship into billions of dollars in net worth and perhaps best-known as the founder of web hosting domain registry giant go daddy and took the money he made by selling that business and others and diversified it into everything from her every day listen -- harley-davidson dealerships. he is out with a new book, fire in the hole. , filled life and subsequent billionaire success. bob joins us in studio for our power lunch exclusive interview. you have been for years one of the most colorful american entrepreneurs and success stories out there. what is it about this book that has got

you so excited and why did you want to write it? >> i thought the story needed to be told for later generations down the road. it is a unique trip to say the least. when i did it, i promised myself that it would be wrong -- raw and tell everybody. >> it's crazy, because you talk about some of the traumatic experiences. first, a lot of folks know, but maybe some don't. you are a decorated and wounded marine corps veteran from the vietnam war. you took those lessons, but also the trauma from that, as well. it shaped the good part of your life. can you take us through that story? >> before i went over and joined the marine corps and went to vietnam, i was -- i didn't have any focus. every year when i went to school

, and every grade, it was pretty much a photo finish. whether a passed or failed, no one could ever take that away from me. i joined the marine corps when i was 17 with two buddies and my mother had to sign so that i could go and she did. she said, maybe this will be what you need. six months later, we were carrying rifles in vietnam. we were in rice patties as far as you can see. we were running ambushes to keep the north vietnamese out of. when i came back from the war, there were a couple of things. first, i went to college. in college, i graduated magna laude with a degree in accounting and passed the exa . i would have never done that without the marine corps.

everything i have ever accomplished in my life, i owe to the marine corps. there was a downside. i have ptsd. i would -- for example, my first software company, i bought a book and learned how to program a computer from the book. a couple of years later, i started a software company in my basement. i used to work 60 hour shifts and writing code and i dealt with ptsd by burying myself in my work. that's how all of this got going. >> crazy. >> you talk about treating that in some of the new techniques in psychedelics and things that people are experiencing. >> psychedelics are the best thing. i read this book how to change your mind and it is all about psychedelics and what has been used for millennia.

i told my wife i wanted to try this, because ptsd was eating me alive. she had me hooked up with two guides a couple of weeks later. mental issues and psychedelics. we met in hawaii and over four days i was treated. a lot of therapy, tears and reliving that stuff and i never want to go through it again, but i was different guy afterwards. i was like how i should have been. >> potentially a market after cannabis. a lot of business advice. one of the things dumps out to me. you say, every company has to decide who is most important. the customer or employees? you have an interesting answer about that. >> for sure the employees. >> why is that?

>> the reason that they are more important is because the employees are the ones that relate to the customers. they conveyed the company to the customers. you need to charge or employees with enthusiasm, so that they are excited about what they are doing. what do we know about enthusiasm , when they deal with customers, it is contagious. >> what about the amazon strategy about the lawless focus and customer first? laser focused on that. >> the customer is first, but the employees come before that. >> i know you have a lot of thoughts on this question. is the american dream still alive and can it be achieved? >> absolutely. i think it is as alive as it has ever been. you don't really recognize it, because it looks like hard work. you hear all of these people say , i work smart. i don't work hard. show me someone that works

smart and i will show you someone that they work for and it will be a person that works hard. >> by the way, love the anecdote about how the super bowl changed everything for godaddy. he almost went out of business and we have an ad or your market share goes up and the rest is off to the races. i ll l twiethem read the book if they want the whole story. thank you for joining us. >> fire in the hole. >> everywhere. we will be right back. 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. trading at schwab is now powered by ameritrade,

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they ignored your potential, and mocked your ambition. but it's not the critic who counts. with every swing and block, your game plan never changed. ♪♪ some still call it luck. let them. because you know what it's always been. inevitable. ♪♪ ♪♪ welcome back, everybody. the market is putting together a nice string of gains lately. extending with a 320 point session high pop, which could be the second straight day for the dow. >> we have been talking about the notion how they are testing the 100 day moving average for the s&p 500. could this be a break?

people to step in to buy it and that's what happens. it has been the same muscle memory for years at this point. >> seeing a lot of movement and the 30 year auction. >> watch small caps, because it has been relatively the power of catch-up trade for the last few sessions. thank you for watching power lunch. >> we will see you later. closing bell starts now. welcome to closing bell. i am scott wapner. this make or break our begins with the best playbook for your money and we will get it exclusively today. in just a bit, aaron brown will reveal her latest asset strategy first and right here. in the meantime, scorecard with 60 minute ago looks pretty good. why is this significant? it will be the first to close above 5200 in a month. exactly one