and i have to say, you know, this is why i've committed almost four decades of my life to this effort. so, tom and everyone else out there, i want to say, thank you. it really is an amazing thing. and again, for none who missed the show and are really interested in learning a lot more at least about my approach to the stock market. you can go to unbreakable investor.com, go there, the book is free. shipping and handling, you have to take care of. but you heard what dan said, a professional hedge fund manager, folk folks. you've got to use the parts when you naturally may want to bail, your gut is turning, those ironically enough historically have been the most amazing times to buy stocks. if you're not going to be that call like, you know, paul newman, at the very least, don't be victim to it. here's kelly o'grady. kelly: words to live by, charles. thank you. hello, everyone. i'm kelly o'grady. markets are awash in red as we enter this final hour of trading with 59 minutes left in the

session. now things, if you can believe it, they aren't as a bad as they were earlier in the session. the dow was down 706 points at its low, now down 442. the s&p 500, it's falling by 31 at the moment. the nasdaq is recovering somewhat from its low of 368 points, now down close to 134. and the russell 2000 is down by 17 points. of course, those are the small caps, really not great with the interest rate outlook from the fed with today's gdp report. and that e do klein set in motion -- decline showed that the economy grew much slower than expected and that inflation remains persistent adding to fierce over interest rates and stagflation. plus, jpmorgan ceo jamie dimon pouring more fuel on the fire, this morning he expressed serious doubts about the likelihood of a soft landing. >> i look at the range of possible outcomes, you can have that soft landing, i'm a little more worried that it may not be

so soft, and inflation may not quite go away. the odds of a soft landing, the market kind of prices in 70%. i think it's half of that. kelly: given the latest economic data, investors will be laser focused on tomorrow's pce report. but earnings are also in control and driving much of the red on the screen. ibm, caterpillar and microsoft accounting for most of the dow's loss at this hour. ibm down close to 9% posting a revenue miss and confirming a $6.5 buy-up deal for hashi corp.. and microsoft if down 3% ahead of earnings after the bell. that's one to watch today. now, as bad as that looks, those losses pale in comparison to meta's post-earnings fallout to. shares right now are down 11.4% and and at the bottom of the nasdaq and s&p 500. the tech giant reported

disappointing second quarter forecasts as it hopes the billions it's already spent to catch up with competitors on a.i. pays off. susan li joins me with how much more meta plans to spend on its a.i. infrastructure and what it means for the tech giant's future. hi, susan. >> hi e there. yes, at its lows today we were looking at meta having its worst day in almost two years despite a record start to the year. but in these priced to perfection markets if you miss, and and they did when it comes to forecast for growth and sales this quarter, you get punished. especially as meta has more than tripled over the past year. so look at meta, maatta a's stock. $200 billion in market cap that was lost. for wall street, you know, they already priced in that a meta would actually post amazing sales and profit growth in the first three months of this year. what usually moves a stock is their guidance forward and how much they will spend on their big moonshot, so the a.i. and the v.r. bets that they're make.

remember, mark zuckerberg rallied the stock last year when he talked about a year of efficiency which came with a lot of job cuts and cuts in spending. so that frugality seems to be over for now. subsays he's increasing -- zuck sayss increasing spending to as much as $40 billion this year. think of that, that's almost the equivalent of general motors that he's going to spend on this moonshot technology. on the earnings call, and i listened to the full hour, zuck is asking for patience. >>s historically, investing to build these new scaled experiences on our apps has been a very good long-term investment for us and for investors who have stuck with us. and the initial signs are quite positive here too. but building a leading a.i. will also be a larger upside taking than the other experiences we've added to our apps, and this is likely going to take several years. >> reporter: that's right. so remember that wall street didn't like zuck's money-losing bets when it came to virtual reality and the metaverse, he

even changed the company's name because of the big bet. he lost another $16 billion, by the way, last year on virtual reality alone, and if he also justifies the increased spending on a.i. because of this ongoing a.i. arms race across the entire valley. in the tech sector torquer microsoft, amazon, google, nvidia spending billions on a.i. start-ups like openai, anthropic and cohere. there is concern amongst the investing crowd that we've seen a lot of a.i. hype, but their patience might be running out especially as companies are still not making money from the big with capital investment. now, you saw meta down about 0% in the session -- 10% and the two companies reporting tonight, microsoft and alphabet, are now falling in anticipation that maybe they're going to increase their spending and, you know, disappointment in metameans we could get possibly a miss from google and microsoft, as i said,

in this priced to perfection market. i'll be speaking with microsoft's president on artificial intelligence spending and cloud growth. kelly: microsoft and alphabet, we'll certainly be watching those after the bell. thanks for that report. okay, for more on how to trade meta, the market's reaction as to first quarter gdp and the fed's path forward, let's get right to the floor show. with us now are the great scotts, t3 trading chief strategist scott redler and scott bauer. my favorite scotts. thanks or for being with me today. we've got a lot to get to. scott redler, i want to come to you first on meta. you just heard susan's report, the end crease in spending, the lowered guidance can. did the market not if test meta in terms of its investment? is there a credibility problem after that metaverse spending? >> i think the market's definitely giving them the

benefit of the doubt. this morning went we came in, we were talking would meta be bought on the dip and it's well off the lows. the problem was it was near all-time highs and had a historic move in the past year and a half, so it was priced to perfection. when you come out with great quarter and you talk about a spend and you lower guidance, you're not going to get a big move, so you have to digest. so now meta has to prove that it's putting its money in the right place for a.i. which i do think is the way of the future. we see that, that's the next hot thing, and it's the been hot, you know, for multiple months with the move in the a.i. semis. as far as the stock is concerned, meta was priced for perfection. it didn't deliver what the street wanted because everyone was on one side of the boat, so that's why it had to crack. as of now in, today's low is 414. you could be long versus that. you could have made money buying the dip today. and i think over time, you know, meta are make a historic high, but it needs to prove itself.

sometimes stocks go through consolidation can phase, sometimes making higher highs. right now it was a little too elevated and a little above the whisper that it e needed to in order to respond well. but today is prudent to be an opportunity. i don't think the story of meta is over. kelly: yeah. well, you bring up an interesting point, that it was pretty high going into this earnings report. and i think back a couple years ago when it saw the massive crash in the stock that year, i think it was down close to 70 or so. it did come back, right? once they rejiggered things. so certainly one to watch with. scott bauer, i want to come to you. another big, dynamic driving the red on the screen, of course, was that gdp report. disappointing growth, warmer inflation than we expected. how concerned do you think we should be? >> i think it's a big concern. i honestly do. because this is kind of if you had read beyond the tea leaves for the last, you know, few reports here, this is kind of

what has been the indication. so i don't know if that 1.6% that we saw is going to get revised. i bet on the next look at a it it probably will get revised up a bit, but this is the big concern, that the growth is going to slow down, wages and the labor market stays hot and, oh, yeah, on top of that the consumer is still spending. that's kind of the worst case scenario. and that's why we saw that big reaction this morning. however, i think it's pretty impressive that the market that has clawed its way back. it e seems to, you know, be doing that. and the market's looking beyond that. maybe they're looking at microsoft, maybe they're looking at alphabet that they can kind of rescue out meta here. but i think that it is a very big concern moving forward. obviously, pce tomorrow, all eyes are on that. that's going to be a big one for the fed. kelly: just one more question, scott bauer, before i let you go. that consumer spending piece that you mentioned, that was up 2.5%.

but the split was kind of interesting. it was an increase on health care, insurance, a pullback on goods. what do you make of that? >> i think people are still spending, but they're spending where they really need to now, you know? maybe some of the frivolous spending has cut back with, and if people are looking at it and saying, all right, this is what what we really need to do. one more little piece, if i might. the vix pit if are right -- is right next to me. lots of sellers, sellers of upside vix calls today. the. kelly: really important note. i mean, especially we've seen a lot of volatility. it's going to be really interesting to see alphabet, microsoft after the bell and that pce report that a you mentioned tomorrow. gentlemen, we are going to have to leave it there. scott redler, scott bauer, thank you so much for your time. okay. well, forget ability those rainy days -- about those rainy days, let's get to something more exciting. a new cybersecurity unicorn is debuting on the new york stock exchange with a mission to build a shield around the cloud.

we've got the first interview with the ceo of ruin -- rubric following the start of trading. the first trust nasdaq cybersecurity ticker civr, it's up more than 30% over the the last year. if -- "the claman countdown," we're coming right back.ri ♪ ch (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 (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts.

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kelly: okay, take a look at a shares of rubric, up over 17% on it first day of public trading at the new york stock exchange. the data management company which, by the way with, backed by microsoft, it focuses on crowd-based cybersecurity software. it was priced at $32 a share, well above that right now, and above the expected range of $28-31. the company's valuation now

standing at $6.7 billion. joining me now is the cofounder, chairman and and ceo bipul sinha live from the floor of the new york stock exchange. so good to have you here. congratulations. >> thank you, kelly, for the opportunity and, first of all, what an honor to be here. what an honor for all of the rubric employees, customers, partners around the world. it is a momentous day for all of us. kelly: well, absolutely. it is the an incredibly exciting day. we're glad that you are spending some of it with us. i've got to ask you, we've seen kind of a lukewarm ipo market, maybe a little bit of momentum. so why did you choose now i to ipo? why was it right for for rubric? if. >> i have a point of view that the long-term, durable companies built as a public company because you have to balance both short-term verves with a long-term vision and -- reserves

with a long-term vision and focus. our point of view is when we are ready and the market is receptive, that's the time to go public. and and we have been talking to market participants, and we felt like the market was resiptive, we were ready, and we took a plunge. kelly: right. that's good to have that sense before going public that the market was going to be receptive. obviously, based on today, certainly good signs. as you go forward into the rest to have year. but, of course, a lot of good comes with the ip to but a lot of bad too. you're going to have some investor scrutiny. they're going to be laser focused on your footballs now that you're public -- on your financials. i was looking at your latest fiscal year, there was a loss of $354 million. big jump from the year before, that was $278 million. so what is that the path forward to profitability for you in. >> look, we are in a very interesting market with extremely differentiated product can cybersecurity particularly our focus on cyber resilience is

a very strong market demand. and we are creating the long-term value here for all the stakeholders in the company. look, profitability is our goal. we are working towards profitability. we want profitable growth, and we'll balance the market opportunity with profitability to insure that we generate a lot of cash and a lot of profitability going forward. kelly: i do think it's interesting because you had sort of seen a pullback in the ipo market when it comes to tech companies that aren't yet profitable. obviously, we are seeing on the stock's performance today that there seems to be some appetite. but like you said, there's a lot of growth potential in cybersecurity. a lot of competition as well. it feels like, to me, so much of the success seems not necessarily reacting to the current threats, but predicting where the next bad actor is going to come from, what they're going to do. so what do you think is the biggest threat in that space, and how are you preparing your

clients for it? >> rubric is a different kind of cyber security company. we are focused on making sure that our customers continue to operate their business even if they experience a successful cyber attack or breach. making sure that our bank customers can continue to take credit card transactions from the their clients, making sure that our hospital clients can be open and can admit patients, making sure that schools can take kids. our goal is that cyber attacks are inevitable. you cannot stop all of that. how do we help our customers continue to operate their business and continue to make sure that they can do business comfortably -- confidently, that's what we are focused on. kelly: i was noticing that zero trust focus in your presentation, i thought that was really interesting. i've only got about 20 the seconds left, but i would be remiss if i didn't mention just such an impressive background. you know, you emigrated from

india, a real rags to riches story. incredibly successful, founder and ipo today. ten seconds, how does that feel standing here? true american dream. >> it can only happen in america. i'm a testament to american dream. so glad to be here in this country and so glad for all the opportunities that i got. to be able to do something like this, taking a company public. kelly: yeah. well, we appreciate you spending part of that day we us. bipul, thanks -- congratulations again. >> thank you. kelly: okay. well, as they say in real estate, it is all about location, location, location. some parts of the country are seeing the home-buying season spring back to life even as mortgage rates stay tub bornly high. we're going to tell you if the time is right to list your house and make that move. home construction etf, itb, it's up over 43% over the last six months. we're coming right back.

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kelly: well, investors closing the door slight toly on home builder stocks. you can see nvr down about half a percent. all the stocks actually between a half and 1% right now. this comes after a report from the national association of realtors revealed home prices are rising faster than wages, making it e even more challenging for those first-time buyers. let's go live to gerri willis with more on this report. not good news, gerri. >> that's right, kelly. the housing market showing signs of life in mamplet one of the few forward-looking indicators for the housing market called pending home sales. that jumped 3.4% in march, more than double the level of the previous month, and that may be because home buyers frustrated by the lack of inventory of existing homes are turning to new homes as the spring market gets underway. listen. >> they're not seeing a lot in the existing home market for them to look at. so when they go look at a new home subdivision, they're going

to find, they're e going to find a home that hay get to customize themselves, right? if they're going to find the options of picking light fix cantures and countertops. >> reporter: in fact, the proportion of new home sales is increasing from a historic e range of 10-12% of the total market to 30-40. credit builders goosing sales by buying down mortgage rates and building smaller homes for a near 9% jump in new home sales in march. and this despite mortgage rates that are continuing above 7%. freddie mac reporting rah rates are at 7.17%. in fact, according to a new survey from redfin, nearly 40% of homeowners say they couldn't afford their house if they had to buy it today. kelly, back to you. kelly: wow, that is a startling stat. and the reason why you aren't seeing folks sell and then have to get another more gang. great breakdown, gerri, we

appreciate it. okay, fox business alert now, keurig dr. pepper, shares are hitting an 8-month high, and they're on rack for their largest percentage increase since june of 2022 after the beverage maker reported a top and and bottom line beat for the first quarter. the company reported a 4.3% increase in sales for its refreshment beverages including 7-up, sun drop citrus soda, canada dry. the can coffee business, however, declined by 2.1% but the stock's still up over 4% right now. however, come comcast is certainly looking downcast at this hour. shares falling by close to 5% and are on track for their largest percentage decrease in six months. the media conglomerate reported it e lost a more than expected 65,000 broadband customers and said losses are going to continue. this pet rick overshadowed comcast's -- metric overshadowed success in the streaming space. it added 3 million paid

subscribers with revenue increasing to 1.1 billion and losses narrowing to 639 million. but, of course, in the streaming wars, profitability is king right now. so still a huge loss there for come comcast. let's take a look at bristol-myers squibb, hitting a 4-year low after reporting a first quarter loss and slashing its annual profit outlook. investors expressing concern about floor-term growth drivers at the company's newest launches include colluding sor rye access treatment. bristol bristol-myers plans to cut a billion and a half in costs by 2025 and reinvest in drug development. the company's cost-cutting means it's going to get 2200 layoffs this year. now, the world's largest gold miner, newmont, it is up, wow, over 13% right now. it's on track for its largest percent if increase in four years. newmont posted a profit beat for the first quarter due to strong production and sales.

gold is hot right now. and next up, this: president joe biden, he's cashing in the chips in a visit to upstate new york, releasing billions in chips act money as micron plants its roots in syracuse, new york. we're going to have details on the semiconductor story in moments. and a tick texas competitor is here -- tiktok competitor is here to tell us why he think it is chinese-owned video app should be banned and why you should join his app instead. and it may be a rough day for the dow but not for america, it is at the top to have dow -- merck, it is at the top of the leaderboard after raising its 2024 profit forecast. look at that up over 3% right now. "claman countdown," we're coming right back. ♪ to to

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new york, in the last hour to announce more than $13 billion in chips act funding and loans for chip maker or micron technology. the micron is building factuallies in upstate new york in idaho. fox business' lydia hu has been following the president's movements and joins us live with the decan tails on the push to bring semiconductor production back onto u.s. shores. what have you got, lydia? if. >> reporter: hi there, kelly. president biden wrapped up his remarks just about 30 minutes ago. and he really celebrated that $6.is billion worth of taxpayer money that's going to be funneled into micron technologies. that money is going to be used to build two microchip fabrication plants, one just outside of sir e cause and the other in boise, idaho. today biden was joined by the likes of senator chuck seemer and new york -- chuck schumer and new york governor kathy hoping concern hochul. they say it'll eventually produce advanced computer chips that will be used in everything

from tvs to cars and in artificial intention. now, biden says this delivers on the promise to bring manufacturing jobs back to america. >> it's clear we have the strongest economy in the world, and that's a fact. 15 million new jobs created in 3 and a half if years. unemployment limit hasn't been this low for this long for 50 years. wages are rising. instead of importing foreign products, we're, porting them and exporting american jobs, exporting american products and creating american jobs. >> reporter: now, that is him celebrating the $6.1 billion, with a b, worth of taxpayer or dollars funding into pie caron technologies. but what was really notable, kelly, was that biden did not comment on some other notable events. he did not say that the most recent jobs report shows strong isest job growth in government and health care sectors. critics say it's a sign that the economy is propped up by

government spending. there was also no comment if on today's gdp print that showed the surprise slowing of the economy. and he made no mention of, of course, sticky inflation and higher prices draining the american pocketbook. and, in fact, today's announcement comes as recent fox news polling shows that 61% of voters disapprove of biden's handling of the economy. his trip also comes amid the anti-israel protests that continue across the country. biden now heads to westchester, new york, as you noted this evening to attend a star-suddenned and expensive fundraiser. -- star-studded. and despite the fact he'll be just next door to new york city, his plans to -- do not include a visit to nyu or columbia where protests have been unfolding all week and students have been arrested. kelly, back to you. kelly: the great point, actually, that you made, lydia, about the government jobs, that's been a big driver of the job growth. it'll be interesting to see what next month if brings. thank you for that report. okay. well, tiktok is racing against

the clock after president biden signed the divest or ban legislation into law yesterday. now, the social media app has one year the divest from chinese owner bytedance or face a country-wide ban. so let's ask the question, how much is tiktok worth on the market? according to a report from "the wall street journal,"s possible bidders are estimating the starting price as $20 the billion with executives at bytedance saying its global operations are worth $100 billion. tiktok has not turned a profit yet though. while tiktok a plans to battle this new law in court could its 1 billion monthly active users, where could they go at a next -- as a next best alternative? trillioner or -- trillioner has over 300 million user accounts on to its platform which is backed by artificial intelligence with. last week triller announced it will create a $4 billion social media and fin-tech company, so joining me now in a fox if business exclusive is the

triller ceo. good to have you on the program today, very timely. i want to ask you with, though, back in 2020 you made a $20 billion offer with investment firm -- for the assets of tiktok. bytedance and tiktok, they didn't confirm the offer a, but let's fast forward to now. would you shoot the shot again? >> well, i think the deal's just going to get sweeter and sweeter as the time goes on, you know? they have nine months to divest, maybe a little extension. but the reality the is the ccp has come out very vocally and said they will not allow tiktok to divest, so i think we can get a pretty good deal on it if that's still an option. kelly: yeah. well, of course, they don't want anyone to have that algorithm which is where the value of tiktok lies. so, of course, this is still fresh news, but i'm curious, have you seen any user activity flocking to triller, and why do you think you are the number one alternative to tick okay right

now? -- tiktok right now? >> well, i think it's multifact tomorrow. if you look at what happened historically e when president trump tried to ban tiktok, our app became number one in 72 countries in all a categories surpassing meta, withdrew talking about. and and this time we're seeing the bipartisan ban. it wasn't a potential ban, it's been a ban that's been approved by the congress, house, senate and president biden has signed this. so we're confident that everybody will come over again. and the reality is if you look at the landscape of the social media infrastructure right now, most of these people that have tiktok, especially the larger creators or even the middle of the long tail, they already have accounts on snapchat, instagram and other places. so they might see more time on app, but we are going to see the biggest influx of users because that's how our users have been trained. tiktok copied our architecture. it's a discovery-first platform. most people go to instagram to see, i don't know, pictures of someone on vacation.

my mom uses instagram -- [laughter] cel. kelly: as does my mom. >> ten years ago -- yeah, my mom's a big fan of the show, by the way. kelly: i love to hear that. i do have to push you on this because like you said, august 2020, i remember, i was reporting on it, triller shot to the top of the app store. but we haven't seen that follow through. people were downloading it, were liking using the app, why didn't they stay? >> well, a lot of people, you know, enjoy the virility that exists with the bots on tiktok, right? because the chinese are able to play outside of the regulatory issues that we have to deal with, right? even as platforms create fake and people get excited about it. they post something, they see 1,000 likes or 100,000 likes, you know, they get excited. it doesn't equate to anything really in the real world. but what we've seen with tiktok

is they're using the user base to really affect politics, to affect images of children, you know? tiktok in asia, they benefit by science and fizz ecs. our kids e -- physics. our kids eat detergent or get involved in politics they don't really understand. so i think once, you know, our country is starting to understand what's happening and forget about all the security stuff, but people are going to come back to triller and other places because they want a real experience that is not backed by a government that a doesn't want with us to exist, quite frankly. kelly: sure. you know, we were looking at a bernstein report that was saying, okay, instagram reels is going to really men from it a potential ban of tiktok, so will youtube shorts. i mean, these are behe posts that have huge userrer or bases -- behemoths. they have huge resources to invest and really push that forward. so how are you going to compete

against the alphabets and the metas? >> well, we have multiple strategies, right? i mean, obviously, access to the capital markets will give us the ability to really increase that the customer act by acquisition -- acquisitions cost. but last time we didn't spend a dollar, and everybody came. this time we're or preparing, we've done a lot of changes to the app, triller 5.0 is going to revolutionize the short form video world and the integration of our a.i. products and everything, it's going to change the game again, like we did in the beginning with short form video and it was copied and stolen by the chinese, we're going to do it again, but this time they won't be here to copy us, so we're very bullish. kelly: triller 5.0, we're going to be watching for that. i've got to ask, okay? tiktok is going to be shopping around for a buyer potentially if bytedance, you know, is going to sell. if you were able to get it with the algorithm, give me a price. what's the number you'd pay for it? >> somewhere between $100-200

maybe. [laughter] because, quite frankly, what am i going to do with chinese spyware? i don't need american data. i'm not trying to influence politics. i'm trying to have fun and people and creators to tell their story. we're already doing it, and once they're gone, what do we need -- i'm not buying cd players either, just to be clear. [laughter] kelly: 100-200 -- >> i'll split it with you. kelly: all right. we'll go halfsies on it. certainly a lot less than elon musk paid for twitter, but that's e the low end of what they'll see. bobby, thank you so much for your time. we appreciate it. >> my pleasure. thank you for having me. kelly: okay. well, big tech, it is going to be the focus in the after the bell earnings parade. intel, microsoft, alpha that bet, gang's all here. they are set to report. we have laura martin on next to preview the google parent's numbers. don't go away. ♪

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♪. kelly: battle between the crypto industry and the securities & exchange commission es can rating escalating today. a major backer of etherium

blockchain in federal court. asking them to decide the biggest conundrum, is it a security or not? >> >> this is a big thing. there are three major cryptos. there is the bitcoin, right? kelly: right. >> we know the sec thinks is a commodity, not a security. you don't have to register with us. you're not trouble if you buy it, stuff like that. ripple is the third one. second one in a minute and they're in trouble. the sec is suing them. they are unregistered security. they want gazillion quon as dollars. there was a court ruling half good, half bad for ripple. that is being sort out. ethereum, then ether, second largest, one of the mainstays which is in sort of regulatory never-never land. nobody knows what the sec really

thinks about this. if it is declared a security since it so widely-held it could blow up the markets. a lot of people hold this thing. if it is declared a commodity, it paves the way for a lot of stuff including an ethereum etf. blackrock and other places want. so here's what we had today which i think is fascinating. we found out, this is via some really good reporting from ellie terry who is all over this thing. there is wells notice to ethereum, consensus blockchain, to ethereum, saying you know, basically implying that the sec believes ethereum is a security, unregistered and all the stuff to back it up, all the stuff that gary gensler said. that happened. on top of that consensus, which is the sort of group which is behind ethereum, run by joe lubin and vitaly buk-arek i believe his name is big players

have sued the sec they want clarity whether this is security or not. this thing is reaching a head. i'm not sure it is trading up or down or no one wants to make of this. this is huge. this is going, there is a lot of money on the table here. if the sec comes out, and point-blank says it is a security, well then that's a problem. there will not be no etf for etherium. a lot of people holding this stuff, people could take a big hit. if it is a commodity, then prices are going up and everything is hunky-dory. we should point out that, ellie believes based on her reporting this takes the etherium etf off the table for the foreseeable future. people thinking maybe next on or whatever. this will be very hard to sort through. we do, one thing that is interesting about these crypto firms that sue the sec and fight them, they do usually get really

good counsel. ripple had really good counsel. that is why it won sort of a half-baked victory. it is still fighting another day. from what i understand, from what ellie tells me, consensus and etherium, they have hired paul weiss. if you know weiss, marti lipton's firm. watt tell lipton. if you knowing in about watel lipton, they are the premier corporate governance fighting firm. marti lipton is legend in corporate lawyering. he created the poison pill takeover defense. from what i understand he is still kicking. in the old days they would come after you leveraged buyout, he created something called poison pill. one of the things he represents

les moonves trying to unwind shari redstone out of national amusements this is a a powerful firm. kelly: all this uncertainty if etherium ends up being declared a security. gary gensler doesn't have much love for the crypto space, that bitcoin etf, that makes bitcoin potentially skyrocket, the bitcoin etf become more attractive. >> if etherium is deemed a security, ripple is already, they believe it is a security again, half-baked victory. too complicated. they will appeal that, good grounds to appeal it. one crypto they'll will be legal so to speak. kelly: right. >> everybody has to go to the sec, pay money it will be crazy. it will be bitcoin and that will cabinet positive for bitcoin. kelly: definitely. >> i don't give investment advice but logically. kelly: logically that will make sense. thanks, charlie, we'll watch this for sure. the closing bell rings in just

under five minutes. the major averages trending lower right now well off the lows of the session. the busiest day of first-quarter earnings season gets even busier after the bell with chipmaker intel out with earnings and software powerhouse microsoft releasing fiscal third quarter results. google fainter alphabet is expecting to say first-quarter earnings per share jumped 30% from a year ago, driven by a 13% spike in revenue. joining us now is needham senior research analyst laura martin. she has a buy rating on alphabet with a 160-dollar price target. i'm so glad you're here today, i'm excited about alphabet earnings after we saw the reaction to meta. two things i'm looking for, a.i. and ad revenue. i want to start with the first. what are you looking for in terms of google's, alphabet messaging on a.i. spending and potential monetizaton. >> exactly unfortunately for

google, for alphabet, meta will set their agenda because meta closed down 10% today, but it was down 16% after they stopped talking last night and that was basically meta said we're increasing capital spending by three billion, increasing expenses by three billion, we'll build the world's best large language model. which means we have a new competitor in addition to alphabet, openai, microsoft and amazon. so we really want to hear how much more money alphabet is saying they will spend on these same things, cap-ex, over what period, expense growth over what period and when are we getting revenue? you know mark zuckerberg over at meta, whatever, three years is fine. we don't want to hear that out of the mouth of google. we want some kind of return on invested capital verbiage and investment linked to the cost. will the stock be down like meta's yesterday. kelly: zuckerberg asked for patience. i haven't known wall street to

be very especially their debacle with the metaverse spending. certainly lost some credibility there. the thing i find really interesting there is a clear opportunity with the large language models, with google's position as leader in search. but i do wonder your perspective how that could impact ad revenue in the long run. you will completely change how we search for information when we deploy a.i. into that. are you looking for anything, guidance in terms of ad revenue in the long term from google? >> i am. i'm really looking, i do not think they will address this proactively. i think analysts will push them on look, search, which is their cash cow, has links they monetize but when you do generative a.i. it doesn't have links. so if openai, microsoft disrupted google search that would be bad for google. the best choice they will

disresult themselves through generative a.i. wall street is focusing on still better to hold on to the revenue, what is the margin implication of that? can we make as much money with generative a.i.? if microsoft will take all the business, they are sort in a rock and a hard place. we want to understand what is happening to google search which is their cash cow to this company. kelly: to that point, ad revenue, we're in an election year. would expect a lot of political spending, youtube is growing the pie as well there, but there is also, you know, potential long-term headwinds with maybe cracks in in the consumer for what are you looking for google on the ad revenue in the near term? >> as you said we're actually expecting 15% ref few growth. i guess the consensus is 13%, but they have been accelerating revenue growth. if you saw the agenda set by meta they're showing a real

slowdown in q2. we don't want google will tell us there will be a slowdown in q2. we want to continue to see revenue growth. i would say wall street is looking, the sell side is higher than the buy side. sell side is looking double-digit revenue growth 13 to 15% and the buy side is down to the nine, 10% level. next couple years -- kelly: okay we'll be hooking for that. out in the next couple seconds here. laura martin, thank you so much for your time today. down, for the second session in a row, 373 points. [closing bell rings] wee have israel on the protests and sponges this. we'll dig into the pec report, see how the markets react to that. that will do it for "the claman countdown." "kudlow" is next ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. so the latest gdp report is out, slower growth, highe