Stock market lately: US stocks rebound from inflation fueled selloff | February 14, 2024

>>> IT'S 3:00 P.M. LIVE FROM OUR STUDIO HERE IN NEW YORK CITY. I'M JOSH LIPTON ALONGSIDE ALEXANDRA CANAL. THIS IS “YAHOO FINANCE LIVE,” AND HERE'S WHAT WE'RE WATCHING THIS AFTERNOON. WE ARE AN HOUR AWAY FROM THE CLOSE ON WALL STREET.

STOCKS ARE FIGHTING FOR GAINS HERE. THE MARKET SHOWING SIGNS OF CALM AFTER YESTERDAY'S BIG SELLOFF ON THE HEELS OF THAT HOT JANUARY CPI REPORT. WE'RE TRACKING ALL THE ACTION IN THIS FINAL HOUR OF TRADING. >>> PLUS THE HOT NEW TREND IN.

CORPORATE AMERICA? SHARE BUYBACKS. UBER, THE LATEST COMPANY TO MAKE THE MOVE AND THE STOCK IS SOARING. WE'VE GOT A CLOSER LOOK AT WHY BUYBACKS ARE MAKING A COMEBACK. >>> STICKING WITH RIDE-SHARING, LYFT SHARES ARE FLYING HIGH IN.

TODAY'S TRADE, THE STOCK HITTING A 52-WEEK HIGH ON EARNINGS LAST NIGHT, AND THE RESULTS OVERSHADOWING NOW CONFUSION SPARKED BY THAT TYPO IN ITS EARNINGS RELEASE. I'M GOING TO SIT DOWN WITH LYFT CEO DAVID RISHER. IMPLY.

AND YOU CAN SEE >> CERTAINLY SEE SOME GREEN AFTER THAT BIG SELLOFF HERE. >> WE'RE JOINED BY JOSH SCHAFER, JENNIFER SCHONBERGER AND JARED BLIKRE. >> ALI, WE CAN SEE BROAD GAINS TODAY, THOUGH NOT APPLE. THAT'S DOWN 1%.

ALPHABET HAS BEEN FLIRTING WITH THE UNCHANGED, BOTH GREEN AND RED FOR AN HOUR OR SO. NVIDIA UP TO ANOTHER RECORD 1.4% BUT I WANT TO TAKE A LOOK AT THE MARKET CAP, BECAUSE NVIDIA, OVER THE LAST TWO DAYS, HAS BRIEFLY, FROM TIME TO TIME, SURPASSED ALPHABET IN MARKET CAP.

THEY'RE BOTH ABOUT $1.8 TRILLION RIGHT NOW, SO BOTH SHY OF $2 TRILLION, AND NVIDIA RECENTLY PASSED AMAZON AS WELL. GOOGLE, BY THE WAY, ONE OF FLEE COMPANIES TO $2 TRILLION MARK SO FAR. I'M ALSO THROWING BITCOIN IN HERE.

BITCOIN IS WORTH A TRILLION DOLLARS, AND JUST WANT TO GET A QUICK UPDATE ON THE TECHNICALS. WE ARE PAST 50,000 IN TERRITORY WE HAVE NOT SEEN SINCE LATE 2021, BUT THE OVERARCHING THEME TODAY IS MEGACAPS ARE DEFINITELY IN FOCUS AND DO NOT COUNT OUT THE MAG SEVEN.

LET'S SEND IT OVER TO JENNIFER SCHONBERGER WITH THE LATEST COMMENTARY FROM FED OFFICIALS. >>> CHICAGO FED PRESIDENT AUSTAN GOOLSBEE SOOTHING MARKET FEARS TODAY OVER THAT HOTTER-THAN-EXPECTED JANUARY CPI REPORT, SAYING THE FED STILL INTENDS TO CUT RATES MULTIPLE.

TIMES THIS YEAR. GOOLSBEE SAYING, “LET'S NOT GET AMPED UP OVER ONE MONTH OF CPI THAT WAS HIGHER THAN EXPECTED.” >> WE CAN STILL BE ON THE PATH EVEN IF WE HAVE SOME INCREASES AND SOME UPS AND DOWNS. THERE'S NOTHING WRONG WITH THAT. LET'S NOT GET TOO FLIPPED OUT.

>> GOOLSBEE ALSO POINTED TO THE FACT THAT FED OFFICIALS SEE INFLATION OF 2.4% THIS YEAR. THAT'S ACTUALLY HIGHER THAN THE DATA THAT WE'VE SEEN OVER THE PAST SIX MONTHS AND AT THAT HIGHER LEVEL OF INFLATION, GOOLSBEE SAYS HE STILL EXPECTS THE FED TO CUT MULTIPLE TIMES.

THIS YEAR. LET'S KICK IT OVER TO JOSH SCHAFER FOR THE LATEST ON THE EARNINGS ROUND-UP. >> THANKS, JEN. >>> FOURTH QUARTER EARNINGS SEASON WELL UNDER WAY, AND A FEW KEY THEMES HAVE EMERGED. FIRST, BUYBACKS.

UBER UNVEILING ITS FIRST-EVER BUYBACK, TOTALING $7 BILLION, SENDING SHARES SOARING TODAY, pD META AMONG OTHERS ANNOUNCING REPURCHASE PLANS. ALSO GETTING A LOT OF MENTION, LAYOFFS. META SET THE TREND IN 2023 WITH ITS YEAR OF EFFICIENCY, AND THE.

TREND IS CLEARLY CATCHING ON. JOB CUTS HISTORICALLY TEND TO RISE IN JANUARY. BIG NAMES ACROSS MEDIA AND TECH HAVE BEEN MAKING HEADLINES WITH PLANS TO STREAMLINE AND SLIM DOWN STAFF. FINALLY, INFLATION. THIS WEEK'S HOTTER-THAN-EXPECTED.

CPI PRINT RAISING CONCERNS ABOUT PROGRESS MADE IN THE INFLATION FIGHT. NAMES IN THE FOOD AND ALCOHOL SPACE LIKE KRISPY KREME AND HEINEKEN CALLING OUT INFLATION'S IMPACT ON PRICING. NOT NECESSARILY SHOCKING THEMES HERE.

I WOULD ARGUE THE FACT THAT WE'RE STILL TALKING ABOUT INFLATION, STILL TALKING ABOUT LAYOFFS, BUT ONE THAT DOES STAND OUT TO ME BECAUSE IT IS A DIFFERENT TREND THAN WE HAD BEEN SEEING IS BUYBACKS. WE HAVE EARNINGS COMING UP. WE HAVE EARNINGS INCREASING.

AGAIN FOR A SECOND STRAIGHT QUARTER. YOU OFTEN SEE BUYBACKS COME WITH THAT, AND WE HADN'T REALLY SEEN THE BUYBACK RESURGENCE YET BUT IT SEEMS LIKE WE'RE STARTING TO SEE THAT A LITTLE BIT NOW. >> YEAH, SOME OF THESE STATS ARE INTERESTING.

THE LAST THREE WEEKS HAVE SEEN NEARLY $130 BILLION IN BUYBACK ANNOUNCEMENTS. GOLDMAN-SACHS ALSO HAD SOME SEPARATE RESEARCH THAT FOR THE FOURTH QUARTER S&P 500 COMPANIES ARE SET TO INCREASE BUYBACKS BY ABOUT 6%. IT'S JUST BEEN INTERESTING TO.

SEE THE REACTION IN SOME OF THESE STOCKS. I COVERED DISNEY VERY CLOSELY WHEN THEY ANNOUNCED NARROW BUYBACK. THAT WAS ONE OF THE REASONS WE SAW THAT STOCK SURGE. CLOONG WITH BUYBACKS, YOU'RE HAVING DIVIDENDS, A LOT OF THESE.

THINGS THAT INVESTORS WANT TO SEE, BUT WE WERE ALL TALKING ABOUT HOW IT'S AN INTERESTING TIME FOR ALL OF THIS TO HAPPEN. INTEREST RATES ARE HIGH. BORROWING COSTS ARE HIGH. A LOT OF COMPANIES SEEM TO BE UNDER A LOT OF PRESSURE, YET HERE THEY ARE, THE STOCK BUYBACK.

IS BACK. >> THEY HAVE BEEN MAKING NEWS. WE WERE TALKING ABOUT CAPITAL RETURNERS, META AND AIRBNB AND UBER, BUT IT WAS INTERESTING WHETHER YOU SAW DIFFERENCES BETWEEN SECTORS. WE WERE TALKING OFF-CAMERA ABOUT THIS, ABOUT HOW I WOULD THINK A.

LOT OF CFOs, GIVEN ALL THE UNCERTAINTY ABOUT THE MACRO, I WOULD THINK A LOT OF THEM WOULD THINK, I'M GOING HOLD ON TO MY CASH FOR A WHILE. >> THAT IS WHAT STRATEGISTS HAVE POINTED TO. THIS IS WHY WE HAVEN'T SEEN THE NORMAL LEVEL OF BUYBACKS.

YOU SEE COMMUNICATION SERVICES LEADING BUYBACKS THUS FAR THIS EARNINGS SEASON AND WHAT STANDS OUT TO ME IS YOU THINK OF A COMPANY LIKE META AND THINK ABOUT WHAT META WAS ABLE TO DO IN THE LAST YEAR BY GETTING BASICALLY THEIR CAPTAIN STRUCTURE IN A BETTER SITUATION,.

THEY FEEL, AND IT'S INCREASED MARGINS, INCREASED EARNINGS, AND EVENTUALLY, YOU END UP WITH MORE CASH, AND WHAT DO YOU DO WITH THAT CASH WHETHER YOU FEEL LIKE YOU'RE IN A BETTER POSITION AND YOU MIGHT NOT NECESSARILY NEED IT? YOU CAN GO TO SHARE BUYBACK.

I THINK WE'RE SEEING IT FROM SOME OF THESE TOP COMPANIES. WE ALREADY MENTIONED DISNEY. WE MENTIONED META. NOW YOU HAVE UBER ALSO FEELING LIKE THEY'RE IN A BETTER SPOT OVER THE LAST YEAR. WE KNOW THAT'S BEEN A BIG TURNAROUND STORY.

SO, IT'S SORT OF THOSE LEADERS OF THE “YEAR OF EFFICIENCY,” USING META'S WORD FOR EVERYONE NOW, BUT IT'S THE LEADERS OF THAT YEAR OF EFFICIENCY IN FINDING THE RIGHT STRUCTURE. MAYBE THE LAST PIECE OF THAT IS THE BUYBACKS, AND I THINK THE BROADER QUESTION IS, WHEN DO YOU.

SEE IT CROSS MORE SECTORS? >> ZUCKERBERG REALLY SHOULD HAVE TRADEMARKED “YEAR OF EFFICIENCY.” >> I KNOW. >> WE SHOULD HAVE A T-SHIRT. AT LEAST A BUMPER STICKER. >> I WANT TO PICK UP ON THAT EFFICIENCY POINT.

THIS IS A COOL CHART I WANT TO BRING UP. MORGAN STANLEY ANALYST MIKE WILSON SAID THAT TRANSCRIPT MENTIONS OF OPERATIONAL EFFICIENCY ARE AT HISTORIC LEVELS AS THESE COMPANIES ARE REALLY FOCUSING IN ON PROFITABILITY.

YOU MENTIONED, JOSH, THE LAYOFFS THAT WE'VE SEEN, INSTACART, PARAMOUNT GLOBAL, TWO RECENT EXAMPLES HERE, AND A BIG PART OF THIS, TOO, IS THE REFOCUS ON A.I. I SHOULD SAY, YOU KNOW, NEW FOCUS ON A.I., SO THEY'RE REALLY TRYING TO TRIM THEIR BUSINESS TO.

FOCUS THEIR CASH ON THAT AND WITH THAT, UNFORTUNATELY, TENDS TO COME LAYOFFS. >> AND THE OTHER THING WITH OPERATIONAL EFFICIENCY, TOO, THAT ALWAYS COMES TO MIND FOR ME, WE'VE BEEN TALKING ABOUT THE FED AND ARE WE GOING TO SEE THESE RATES GO HIGHER FOR.

LONGER? ARE THEY GOING TO WAIT UNTIL MAY OR JUNE? WHEN YOU THINK ABOUT WHAT THAT MEANS FOR THESE COMPANIES, AND JOSH, YOU MENTIONED BORROWING COSTS BEING HIGHER, BORROWING COSTS GO UP. TYPICALLY, YOU SEE LAYOFFS.

BECAUSE COMPANIES ARE TRYING TO PROTECT THEIR MARGINS. THEY NEED SOMEWHERE TO BASICALLY GET MONEY BACK, AND WE HAVEN'T SEEN NECESSARILY MASS LAYOFFS, AND THAT'S THE BROAD QUESTION, IT SEEMS LIKE, FOR THE MARKET RIGHT NOW IF THOSE BORROWING COSTS DO STAY HIGH, HOW MUCH.

MORE DO WE HEAR MENTIONS OF LAYOFFS AS COMPANIES TRY TO PROTECT MARGIN? BECAUSE WE KNOW THERE'S ONLY SO MANY THINGS YOU CAN DO, RIGHT? AND THAT'S THE LAST STRAW SOMETIMES THAT COMPANIES GO TO, TO BASICALLY SAY, ALL RIGHT, WE'VE GOT TO CUT COSTS.

SOMEWHERE. IT MIGHT HAVE TO BE IN THE LABOR FORCE. >> JOSHUA, THANK YOU. >>> OUR THANKS TO JARED AND JENNIFER TOO, BY THE WAY. WE MOVE ON FOR A DEEPER DIVE ON WHAT'S NEXT FOR JEROME POWELL AND THE FED AND THE MARKET.

LET'S WELCOME IN DAVID, MORNINGSTAR CHIEF U.S. MARKET STRATEGIST. DAVID, IT IS GOOD TO HAVE YOU ON THE SHOW. INTERESTED, JUST START AT A HIGH LEVEL, WHERE YOU THINK WE ARE WITH THIS MARKET, DAVID. THERE WERE PLENTY OF FOLKS,.

STRATEGISTS, TECHNICIANS, WHO WERE SAYING GIVEN THE RALLY WE'VE SEEN, NOT TO SAY THEY'RE BEARISH ON THE MARKET, BUT THEY HAVE BEEN LOOKING FOR KIND OF A NEAR-TERM PULLBACK HERE. IS THAT WHAT YOU SEE, DAVID? KIND OF NEAR TO INTERMEDIATE TERM HERE?.

>> THAT IS WHAT I SEE, THAT THIS WAS JUST A SHORT-TERM PULLBACK BASED ON THE CPI DATA THAT CAME OUT YESTERDAY, AND LOOK AT THAT CPI DATA. OUR U.S. ECONOMICS TEAM SPECIFICALLY CAME OUT AND TOLD PEOPLE NOT TO PANIC WHEN THAT HEADLINE HIT THE SCREEN, BUT I.

WOULD SAY, THE BROAD U.S. EQUITY MARKET IS TRADING JUST SLIGHTLY ABOVE OUR FAIR VALUE ESTIMATE RIGHT NOW. WE ARE EXPECTING A SLOWING RATE OF ECONOMIC GROWTH, SO I DO THINK THAT'S GOING TO WEIGH ON EARNINGS GROWTH OVER THE NEXT COUPLE QUARTERS, BUT THEN WE.

ALSO EXPECT INTEREST RATES TO SUBSIDE OVER THE REMAINDER OF THE YEAR, SO BETWEEN THOSE TWO EXPECTATIONS, MARKET PRETTY FAIRLY VALUED, BUT I DO THINK THERE'S A LOT OF WAYS THAT YOU CAN POSITION YOUR PORTFOLIOS TODAY TO BE ABLE TO TAKE ADVANTAGE OF SOME OF THOSE AREAS.

THAT DO REMAIN UNDERVALUED AND THEN STEER CLEAR, SOME OF THOSE AREAS THAT ARE JUST SIGNIFICANTLY OVERVALUED TODAY. >> SO, DAVID, WHAT ARE SOME OF THE AREAS IN THE MARKET THAT YOU BELIEVE ARE UNDERVALUED RIGHT NOW? >> COUPLE OF DIFFERENT SECTORS.

THAT WE LIKE. REAL ESTATE IS ONE. OF COURSE, IT'S CERTAINLY BEEN UNDER A LOT OF PRESSURE. LAST YEAR AND THIS YEAR AS WELL. WE JUST SEE A LOT OF AREAS THAT HAVE GOTTEN PUSHED DOWN TOO MUCH, AND SO WHEN WE THINK ABOUT INTEREST RATES COMING DOWN,.

ACCORDING TO OUR FORECASTS OVER THE COURSE OF THIS YEAR, I THINK THAT'S GOING TO GIVE A PRETTY GOOD TAILWIND FOR REAL ESTATE, SO ONE STOCK THERE OUR TEAM REALLY LIKES IS REALTY INCOME, TICKER “O,” TRADES AT A 30% DISCOUNT TO OUR FAIR VALUE, HAS A 6% DIVIDEND YIELD RIGHT NOW,.

FIVE-STAR RATED STOCK AND THIS IS ONE THAT ACCORDING TO OUR TEAM HAS THE MOST SENSITIVITY TO INTEREST RATES, SO AS INTEREST RATES COME DOWN, THAT WOULD BE ONE TO WATCH. FOR PEOPLE THAT MIGHT BE LOOKING FOR MORE DEFENSIVE PICKS IN THE REAL ESTATE AREA, I CALL IT.

HEALTH PEEK. IT'S MEDICAL OFFICES AND OTHER HEALTH CARE FACILITIES. ANOTHER FIVE-STAR-RATED STOCK TRADES AT ALMOST HALF OF OUR FAIR VALUE ESTIMATE, PAYS A 7.2% DIVIDEND YIELD. SOME OTHER AREAS I'D LOOK AT WOULD BE BASIC MATERIALS AND.

UTILITIES. >> DAVID, JUST COMING BACK TO REAL ESTATE FOR A SECOND. I WANT TO GET YOUR THOUGHTS ON THE COMMERCIAL REAL ESTATE SECTOR AND CERTAINLY, YOU KNOW, NYC NEW YORK COMMUNITY BANK CORP. MAKING HEADLINES FOR ALL THE WRONG REASONS.

ANY CONCERN THOSE PROBLEMS ARE GOING TO IMPACT THE BROADER BANKING SYSTEM, THE BROADER ECONOMY, OR DO YOU THINK — THIS DOES SEEM TO BE CONSENSUS RIGHT NOW — THAT NYCB'S PROBLEMS WERE ITS OWN, IDIOSYNCRATIC? >> WE DON'T COVER NEW YORK COMMUNITY BANK BUT OUR TEAM DID.

TAKE A QUICK LOOK TO SEE WHETHER OR NOT THERE WERE IMPLICATIONS FOR THE REST OF OUR U.S. BANK COVERAGE, SPECIFICALLY THE REGIONALS. WE DO THINK IT WAS REALLY IDIOSYNCRATIC TO NEW YORK COMMUNITY BANK BASED ON THE TYPE OF REAL ESTATE AND WHERE THAT.

REAL ESTATE WAS LOCATED THAT THEY WERE FINANCING AND JUST HOW MUCH REAL ESTATE EXPOSURE THEY HAD AS COMPARED TO THEIR CAPITAL. SO, WHEN YOU LOOK AT THE U.S. REGIONAL BANKS, WE STILL SEE A LOT OF VOLUME THERE FOR INVESTORS TODAY.

A LOT OF THOSE STOCKS DID GET HIT PRETTY HARD EARLIER THIS MONTH. OUR GO-TO STOCK HAS BEEN U.S. BANK. IT'S A FOUR-STAR RATED STOCK, TRADES AT A 23% DISCOUNT TO FAIR VALUE AND PAYS ALMOST A 5% DIVIDEND YIELD.

>> TAKING A STEP BACK HERE, GOING BACK TO THAT HOTTER-THAN-EXPECTED CPI PRINT, THERE'S BEEN MORE CHATTER WHEN IT COMES TO A NO-LANDING SCENARIO FOR THE ECONOMY, SO ESSENTIALLY THE ECONOMY WOULD CONTINUE TO GROW BUT WE WOULD NOT REACH THE FED'S 2% INFLATION.

TARGET. HOW LIKELY DO YOU THINK THAT IS, AND WHAT SECTORS WOULD BE MOST EXPOSED IF THAT WERE TO OCCUR? >> THE CPI PRINT, WE DON'T THINK IT'S NEARLY AS BAD AS THE HEADLINES SUGGESTED SO WHEN OUR U.S. ECONOMICS TEAM REALLY GOT INTO IT AND STARTED LOOKING AT.

THE DIFFERENCES BETWEEN THE WEIGHTINGS AND METHODOLOGIES IN CPI VERSUS PCE, WE STILL CONTINUE TO BELIEVE THAT PCE THIS YEAR IS GOING TO AVERAGE 1.9% AND ACTUALLY WILL EVEN SUBSIDE EVEN FURTHER GOING INTO 2025. SO, WE'RE NOT CONCERNED ABOUT.

INFLATION. OUR U.S. ECONOMICS TEAM ACTUALLY IS STILL LOOKING FOR THAT FIRST RATE CUT HERE IN MAY, SO I KNOW THAT'S A LITTLE OUT OF CONSENSUS RIGHT NOW, BUT WHEN YOU THINK ABOUT KIND OF THE ECONOMY SLOWING OVER THE NEXT COUPLE OF QUARTERS, THINKING ABOUT.

INTEREST RATES COMING DOWN, INFLATION SLOWING, I THINK THAT GIVES THE FED THE ROOM THAT IT'S GOING TO NEED IN ORDER TO START CUTTING RATES. THE OTHER THING IS WHILE THE FED IS VERY FOCUSED ON INFLATION RIGHT NOW, THEY STILL HAVE TO KEEP IN THE BACK OF THEIR MIND,.

THEY DON'T WANT TO KEEP RATES TOO HIGH FOR TOO LONG AND ACCIDENTALLY CAUSE A RECESSION, CERTAINLY IN THE — POTENTIALLY IN THE SECOND HALF OF THIS YEAR. >> I'LL GET YOU OUT OF HERE ON THIS. QUESTION ABOUT EARNINGS SEASON. WE'VE HEARD FROM THE BIG BANKS,.

BIG TECH, STILL GOT SOME BIG ONES IN THE PIPE LINE-UP, GOT CISCO AFTER THE BELL. WHAT HAVE BEEN YOUR BIG TAKEAWAYS FROM THIS EARNINGS SEASON? WHAT DO YOU EXPECT FOR CORPORATE PROFIT GROWTH IN THE QUARTERS AHEAD?.

>> I THINK THINGS ARE ACTUALLY SHAPING UP PRETTY WELL FOR THE BEGINNING OF THIS YEAR. THE ECONOMY DID HOLD UP MUCH BETTER IN THE SECOND HALF OF LAST YEAR. IT LOOKS LIKE IT'S ACTUALLY HOLDING UP PRETTY WELL IN THE FIRST QUARTER THIS YEAR.

I THINK THE BIGGEST TAKEAWAY FROM EARNINGS FOR ME IS MY BIGGEST CONCERN COMING INTO IT IS MANAGEMENT TEAMS MIGHT USE THIS AS AN OPPORTUNITY TO LOWER THE BAR FOR GUIDANCE THIS YEAR, JUST SO IT WOULD BE EASIER TO OUTPERFORM OVER THE COURSE OF THE YEAR IN AN ENVIRONMENT WHERE.

WE EXPECT A SLOWING ECONOMIC RATE OF GROWTH, AND WE DIDN'T SEE THAT. AND I THINK THAT'S ALSO A BIG REASON, TOO, WHY WE HAVE SEEN THE MARKET DO AS WELL AS IT HAS THIS EARNINGS SEASON. >> DAVID, IT IS ALWAYS GREAT TO HAVE YOU ON THE SHOW.

THANK YOU SO MUCH FOR JOINING US TODAY. >> THANK YOU. >>> WE ARE JUST GETTING STARTED HERE ON “YAHOO FINANCE LIVE.” COMING UP, SHARES OF COINBASE, THEY'RE JUMPING TODAY AHEAD OF EARNINGS. WE'RE GOING TO TALK TO AN.

ANALYST ON THE OTHER SIDE ABOUT WHAT TO EXPECT FROM THE CRYPTO EXCHANGE PLATFORM. >>> AND LYFT IS RIDING HIGH ON THE BACK OF A STRONG FOURTH QUARTER IN 2024 GUIDANCE. WE'RE JOINED BY THE CEO, DAVID RISHER, LATER IN THE HOUR TO BREAK DOWN THOSE NUMBERS.

>>> PLUS THE NEWEST EDITION OF OUR SERIES “GOOD BUY OR GOOD-BYE.” WE'LL HELP YOU MAKE THE BEST CHOICES FOR YOUR PORTFOLIO. STAY TUNED. MORE YAHOO! FINANCE AFTER THIS. >>> WE'RE CHECKING IN ON A FEW TRENDING TICKERS.

SHARES OF UBER MOVING HIGHER TODAY AFTER THE RIDE-SHARING GIANT ANNOUNCED ITS BOARD OF DIRECTORS HAS AUTHORIZED THE REPURCHASE OF UP TO $7 BILLION OF THE COMPANY'S COMMON STOCK. UBER'S CFO CALLS ITS FIRST EVER SHARE REPURCHASE PROGRAM “A VOTE OF CONFIDENCE IN THE COMPANY'S.

STRONG FINANCIAL MOMENTUM.” JOSH, THIS IS REALLY AN IMPORTANT MOMENT FOR UBER AFTER YEARS OF BURNING CASH. WE SAW POSITIVE RESULTS LAST WEEK, UBER POSTING ITS FIRST ANNUAL PROFIT SINCE ITS IPO. I THINK THE FACT THAT WE SAW POSITIVE RESULTS FROM LYFT IS.

HELPING LIFT THAT SENTIMENT ACROSS THE BOARDS, AND CLEARLY, THERE'S ROOM FOR BOTH OF THESE RIDE-SHARING GIANTS WITHIN THE CURRENT MARKET. AT THE SAME TIME, THERE'S OVERHANGING RISKS. WE HAVE STRIKES GOING ON TODAY WITH GIG ECONOMY WORKERS FROM.

LYFT, UBER, DOORDASH AS THEY'RE FIGHTING FOR FAIRER PAY, BUT IT REALLY SEEMS LIKE UBER IS IN A SOLID POSITION RIGHT NOW FOR FUTURE GROWTH. >> IT IS IN A DIFFERENT FINANCIAL POSITION. A LOT OF THAT CHANGE HAPPENING, AND HE'S SPOKEN ABOUT THIS, HOW.

HE'S CALLED 2023 AN INFLECTION POINT FOR THE COMPANY. THEY REPORTED THEIR FIRST FULL YEAR OF PROFIT AS A PUBLIC COMPANY. YOU LOOK AT THE STOCK, REALLY REMARKABLE RUN. I MEAN, WE ARE UP ABOUT 120% OVER THE LAST 12 MONTHS, AND THE.

STREET LOVES THIS MAKE. IT IS LIKE NVIDIA KIND OF LOVE FOR UBER. YOU GOT ABOUT 90% OF ANALYSTS WHO COVER THIS ONE STILL SAY EVEN AFTER THIS RUN, THIS ONE IS A BUY. >>> MOVING ON TO ANOTHER TICKER TRENDING HIGHER.

SHARES OF ZILLOW ARE RISING AS THE ONLINE REAL ESTATE COMPANY IS REPORTING A REVENUE BEAT, POSTING A 9% GAIN YEAR OVER YEAR ON THIS ONE. ZILLOW, STOCK HAS MOVED SHARPLY HIGHER. ITS Q4 RESULTS BEAT CONSENSUS. ZILLOW OFFERED A FORECAST WHICH.

SOME OF THE STREET THOUGHT WAS KIND OF CONSERVATIVE. I THOUGHT ONE NOTE FROM RBC WAS INTERESTING. THEY LIKE THIS NAME, BY THE WAY. THEY THINK GIVEN THE RATE VOLATILITY WE'RE SEEING, THE MARKET PROBABLY SOFTENED NEAR TERM VERSUS A MONTH AGO BUT.

THEY'RE STILL BULLISH. BIGGER PICTURE, THEY TELL THEIR CLIENTS THEY'RE LOOKING FOR FURTHER SHARE GAINS. IT COULD MEAN MORE MARGINAL EXPANSION. >> BEATING EARNINGS, ESPECIALLY IN THIS MARKET, HAS BEEN QUITE A WILD RIDE WITH INTEREST RATES.

STILL HIGH. THERE'S NOT A LOT OF INVENTORY ON THE MARKET AND THE FED'S HIGHER FOR LONGER MANTRA IS NOT GOING TO HELP REAL ESTATE MOVING FA FORWARD, BUT THERE IS SOME RESILIENCE. BARTON SAID, LOOKING FORWARD TO.

2024, CONFIDENT IN EXPANDING INTO MORE MARKETS AND SAID, “THE COMPANY PLANS TO PRESS ON THE ACCELERATOR.” THEY'RE NOT PLANNING TO STOP ANY TIME SOON IN THAT THEY'VE BARELY SCRATCHED THE SURFACE WHEN IT COMES TO HOW MUCH THE REAL ESTATE MARKET HAS AND ALL THE.

OPPORTUNITIES THERE. WELL, FROM HOME-BUYING TO BUYING PRODUCTS FOR YOUR HOME, SHARES OF THE KRAFT HEINZ COMPANY TANKING TODAY AS THE FOOD COMPANY SAW FOURTH QUARTER NET SALES FALL SHORT OF EXPECTATIONS AND DECLINED 7.1% YEAR OVER YEAR.

THE COMPANY BLAMED THE REVENUE DECLINES ON FOOD COST INFLATION WITH CUSTOMERS ESSENTIALLY TRADING DOWN OR NOT BUYING AS MUCH, AND WE HAVE HEARD THIS NARRATIVE FROM A FEW FOOD MAKERS OUT THERE, MANY OF WHICH HAVE RAISED PRICES TO TRY AND COMBAT SOME OF THOSE INFLATIONARY.

PRESSURES, COMPANIES LIKE KRISPY KREME, COCA-COLA, HEINEKEN, ALL ECHOING THAT MESSAGING THAT INFLATION IS GOING TO HURT EARNINGS AND MARGINS DOWN THE LINE AND THERE'S ALWAYS THE LINGERING QUESTION OF HOW MUCH CONSUMERS ARE WILLING TO PAY WHEN YOU RAISE PRICES, AND IT.

SEEMS LIKE WE'RE FINALLY GETTING THAT ANSWER. THEY DON'T WANT TO PAY AS MUCH FOR THEIR SNACKS AND THEIR SODAS. >> YEAH. FISCAL '24, COMPANIES SAY THEY'RE LOOKING FOR ORGANIC NET SALES GROWTH BETWEEN 0 TO 2%.

VERSUS THE PRIOR YEAR. THEY EXPECT POSITIVE CONTRIBUTION FROM PRICE. VOLUMES, THEY DID TALK ABOUT, THEY SEE AN INFLECTION — INFLECTING POSITIVE IN THE SECOND HALF, BUT INTERESTING NOTE FROM THE TEAM OF ANALYSTS AT BLOOG BLOOMBERG.

THEY CALL THIS A LACKLUSTER END FOR THE COMPANY AND THAT EXPECTATIONS FOR THAT POSITIVE INFLECTION OF VOLUME IN THE BACK HALF, THEY ARGUE THAT COULD BE TOUGH TO ACHIEVE. WE'LL SEE. >> YEAH. >>> WELL, ANOTHER TOP TRENDING.

TICKER ON YAHOO! FINANCE IS COINBASE. THAT, PLUS OTHER CRYPTO-RELATED NAMES, ALL SHOOTING HIGHER AS BITCOIN BRIEFLY TOPPED $52,000, BRINGING ITS TOTAL MARKET CAP BACK ABOVE $1 TRILLION. JOINING US NOW IS DEVIN RYAN, DIRECTOR OF FINANCIAL TECHNOLOGY.

RESEARCH AT CITIZENS J&P. DEVIN, I WANT TO START YOU OFF ON THIS PRICE ACTION. YOU WOULD THINK RISKIER ASSETS, ESPECIALLY AFTER THAT HOT INFLATION PRINT, THEY'D TURN LOWER. WHY IS BITCOIN SO RESILIENT RIGHT NOW?.

>> I THINK IT'S JUST SIMPLISTICALLY, SUPPLY-DEMAND DYNAMICS, AND THE ETF, WE'RE STILL IN THE VERY EARLY DAYS SO I THINK DEMAND COULD GROW PRETTY MATERIALLY OR EVEN EXPONENTIALLY FROM HERE, BUT THERE'S BEEN A LOT OF DEMAND WITH THE ETF COMING IN, IN RECENT WEEKS, SO I.

THINK WE'RE IN THE FIRST INNING OF THAT DEMAND, THOUGH. IF YOU THINK ABOUT THE SPONSORS OF THE ETF, AND YOU THINK ABOUT THE TENS OF TRILLIONS OF DOLLARS OF ASSETS, THE NEXT WAVE IS GOING TO COME WHEN FINANCIAL ADVISORS ACTUALLY ALLOCATE TO THE ASSET CLASS IN A BROADER.

ASSET ALLOCATION PLAN, AND THAT HASN'T EVEN REALLY STARTED YET. I THINK THIS IS KIND OF EARLY, YOU KNOW, PEOPLE GETTING IN, EARLY DOMINATORS, SMALL RIAs THAT ARE PUTTING THEIR CLIENTS' CAPITAL INTO BITCOIN, BUT I THINK THAT, AS THAT EXPANLDDS O, YOU'RE GOING TO SEE EVEN MORE.

DEMAND. THERE'S A MULTIPLIER EFFECT ON CAPITAL. SMALL AMOUNTS OF CAPITAL COME IN, IT PUSHES THE VALUATION HIGHER, AND I THINK, AGAIN, WE'RE IN THE EARLY DAYS OF THAT. >> THESE NEW SPOT BITCOIN ETFs, WHAT ARE THEY GOING TO MEAN FOR.

COINBASE? I ASK BECAUSE WE HAVE HAD OTHER ANALYSTS WHO COME ON AND SAY, LISTEN, IT MIGHT BE BAD NEWS FOR ARMSTRONG AND HIS TEAM, TO THE EXTENT THAT TRADERS AND INVESTORS MIGHT THINK, I WANT EXPOSURE TO BITCOIN, I'LL SIDESTEP COINBASE AND PILE INTO.

THESE NEW SHINY VEHICLES. >> I'LL TAKE THE OTHER SIDE OF THAT. ROBINHOOD REPORTED EARNINGS LAST NIGHT. THEY SAID THEY OFFER ALL 11 OF THE SPOT BITCOIN ETFs. THEY SAID 95% OF THE VOLUME THAT'S HAPPENING IN CRYPTO IS.

STILL HAPPENING IN SPOT, NOT ONLY ETFs THERE, BECAUSE PEOPLE WANT TO OWN THE SPOT. SO, WHAT'S HAPPENING WITH THESE ETFs IS THIS INCREMENTAL CAPITAL. YOU'VE ESSENTIALLY REMOVED A BARRIER FOR CERTAIN SUBSET OF INVESTORS TO GET ACCESS.

THESE ARE FINANCIAL ADVISORS THAT ARE NOT GOING TO MOVE THEIR CUSTOMER'S CAPITAL OUTSIDE OF THE FIRM. NOW THEY CAN CUSTODY WITHIN THE SAME PLATFORM, SO THIS IS MORE CAPITAL FROM THEM COMING IN AND CERTAIN INSTITUTIONS WANT TO OWN IT IN AN ETF STRUCTURE.

AND SO IT'S THE RIGHT WRAPPER FOR CERTAIN TYPES OF INVESTORS. PEOPLE THAT ARE COMFORTABLE BUYING IT IN A SPOT FORM, WHICH HAS REALLY WHAT THE WORLD HAS BEEN UP UNTIL JANUARY OF THIS YEAR, THOSE INVESTORS ARE GOING TO CONTINUE TO BUY SPOT, AND BY THE WAY, IF YOU BUY SPOT BITCOIN.

AND THEN YOU BUY BITCOIN ETF, I THINK THAT ULTIMATELY WHAT HAPPENS IS PEOPLE THEN START LOOKING AT WHAT OTHER CRYPTOCURRENCIES ARE OUT THERE, WHAT IS ETHEREUM? WHAT ARE SOME OF THE OTHER CRYPTOCURRENCIES THAT ARE NOT IN AN ETF WRAPPER?.

THAT'S WHERE, FOR A COMPANY LIKE COINBASE, MORE INTEREST IN THE SPACE, MORE ADOPTION, DRIVES MORE ACTIVITY, AND THAT'S WHAT WE'RE SEEING. THE VOLUMES AT COINBASE ARE UP OVER 30% IN THE FIRST QUARTER RELATIVE TO WHERE THEY WERE IN THE FOURTH QUARTER OF LAST YEAR.

>> AND DEVIN, YOU MENTIONED ROBINHOOD. THOSE POSITIVE EARNINGS RESULTS. THEY DID POST A SURPRISE Q4 PROFIT, BETTER THAN EXPECTED REVENUE. THAT INCLUDED A 10% GROWTH IN CRYPTOCURRENCIES REVENUE. SO HOW DOES THAT FACTOR INTO.

YOUR EXPECTATIONS WHEN COINBASE REPORTS EARNINGS TOMORROW? >> I THINK THERE IS SOME SIMILARITY. SO, PEOPLE ARE MORE ENGAGED IN THE MARKET AND IN CRYPTO WAS ONE AREA FOR THE FOURTH QUARTER THAT WAS VERY ACTIVE, BUT I THINK ROBINHOOD, OBVIOUSLY, IT'S A.

BROADER PLATFORM AROUND INVESTING, AND THEY SAW JUST IN 2023, 37% REVENUE GROWTH AT THE SAME TIME THEY GOT THEIR EXPENSES UNDER CONTROL, SO NOW THIS IS A FIRM THAT'S PROFITABLE. SO, I THINK, IN TERMS OF CONNECTIVITY, COINBASE IS DOING.

A LOT OF THE SAME THINGS. THEY'RE REACCELERATING THEIR REVENUES, AND THEY'RE ALSO VERY FOCUSED ON EXPENSES. THEY REDUCED HEAD COUNT EARLIER IN THE YEAR, SO THERE'S SIMILARITIES THERE, BUT END OF 2023 AND THEN GAVE A VERY GOOD OUTLOOK FOR 2024, AND THE.

STOCK IS JUST CHEAP, AND THAT'S WHY IT'S MOVING TODAY. IT'S BEEN BEATEN DOWN OVER THE LAST YEAR AND A HALF. PEOPLE ARE STARTING TO COME BACK TO IT. $5.3 BILLION OF CASH, WHICH IS HALF THEIR MARKET CAP. PEOPLE ARE SEEING VALUE IN THAT.

>> DEVIN, STOCKS HAD — TO YOUR POINT, YOU PULL BACK THE CHARTS, UP 165% OVER THE PAST 12 MONTHS. YOU HAVE AN OUTPLATERFORM ON TH NAME, SO A BUY. WHAT ARE THE CATALYSTS THAT MOVE THIS ONE HIGHER? >> THIS HAS BECOME A FUNDAMENTAL STORY.

GO BACK TWO YEARS. NOBODY WAS THINKING FIRMS LIKE ROBINHOOD WERE GOING TO GET TO PROFITABILITY. ROBINHOOD IS GAP PROFITABLE, NOT JUST FAKE EARNINGS. IT'S GAP PROFITABILITY, AND THEY'RE VERY CASH GENERATIVE. THEY CAN ACTUALLY JUSTIFY THEIR.

VALUATION ON REAL EARNINGS, AND SO WE LOOK AT 2025, STOCK'S TRADING AT ROUGHLY SEVEN TIMES EV TO EBITDA, WHICH IS VERY CHEAP FOR A COMPANY THAT CAN GROW, SO I THINK AS PEOPLE LOOK AT THE GROWTH POTENTIAL, REVENUE GROWTH OF THIS COMPANY, THEY'RE GOING TO GET MORE EXCITED AND.

THAT'S WHAT'S HAPPENING TODAY. THAT WILL CONTINUE, ASSUMING THEY CONTINUE TO EXECUTE, WHICH IS OUR VIEW FOR THE COMPANY. >> AND SO, DEVIN, YOU'RE A BELIEVER, VALUATION STILL LOOKS ATTRACTIVE AFTER THIS RUN. BEFORE VIEWERS PILE IN, THOUGH, WHAT ARE RISKS TO YOUR THESIS?.

WHAT ARE DOWNSIDES THAT YOU HAVE TO THINK ABOUT? >> IT'S A LITTLE BIT OF ENGAGEMENT IN INVESTING. IT'S NOT JUST RETAIL INVESTORS. IT'S INSTITUTIONAL INVESTORS AS WELL. TO THE EXTENT INTEREST RATES ARE STABILIZING, MOVING LOWER,.

GENERALLY THAT CREATES A BETTER INVESTING BACKDROP. TO THE EXTENT THAT DOESN'T HAPPEN AND THE MACROENVIRONMENT GETS MORE COMPLICATED AGAIN, I THINK THAT'S WHERE TRANSACTION ACTIVITY FOR A FIRM LIKE ROBINHOOD COULD SUFFER AND IT WOULD BE MORE LIKE THE LAST TWO.

YEARS OF KIND OF SLOWER ACTIVITY. SO, WE DO THINK WE'RE KIND OF PULLING OUT OF THE TROUGH HERE AND THINGS ARE GETTING BETTER, BUT THAT'S A RISK, AND THEN THE OTHER SIDE, YOU KNOW, INTEREST RATES MOVING DOWN. THERE IS SOME KIND OF NEGATIVE.

EFFECT FOR THEM FROM THAT DYNAMIC. THE GOOD NEWS IS THEY PASS ALONG THE VAST MAJORITY OF THE BENEFIT OF HIGHER INTEREST RATES TO THE CUSTOMERS BUT LOWER INTEREST RATES, THERE IS A LITTLE BIT OF AN OFFSETTING PIECE. YOU NEED TO SEE TRANSACTION.

ACTIVITY MORE THAN OFFSET, CALL IT, THE NEGATIVE IMPACT OF LOWER INTEREST RATES. >> DEVIN, THANK YOU SO MUCH FOR JOINING US TODAY. THAT WAS REALLY HELPFUL. ALL THINGS COINBASE, THANK YOU, SIR. >>> WE MOVE ON.

MICROSOFT AND OPENAI IDENTIFYING GROUPS USING ARTIFICIAL INTELLIGENCE IN CONJUNCTION WITH THEIR HACKING EFFORTS. FOR MORE ON HOW THE TECH GIANT IS NAVIGATING CYBER THREATS IN THE ERA OF A.I., LET'S GET TO OUR VERY OWN DAN HOWLEY. DAN?.

>> THAT'S RIGHT. MICROSOFT, OPENAI, BASICALLY SAYING THERE ARE GROUPS THAT ARE USING DIFFERENT FORMS OF LARGE LANGUAGE MODELS AND A.I., EVEN CHATGPT, TO HELP THEM KIND OF HACK INTO ENEMY NATIONS, NATIONS THEY SEE AS ENEMIES, AS WELL AS OTHER GROUPS, NGOs,.

ORGANIZATIONS, MICROSOFT, PROBABLY, AND SO, YOU KNOW, SOME OF THE WAYS IN WHICH THEY'RE DOING THIS IS BY USING THESE CHAT BOTS, AGAIN, CHATGPT BEING ONE OF THEM, TO LOOK UP THINGS LIKE SATELLITE CAPABILITIES, RADAR TECHNOLOGIES, RECONNAISSANCE INFORMATION, WAYS.

OF SCRIPTING TASKS, IMPROVING SOCIAL ENGINEERING FOR PHISHING AND SPEAR PHISHING EMAILS. YOU CAN SEE WE HAVE CHINA, IRAN, NORTH KOREA, AND RUSSIA. THOSE ARE THE COUNTRIES THAT WERE NAMED IN THIS REPORT, AND THEY HAVE DIFFERENT GROUPS WITH FUN LITTLE NAMES LIKE CHARCOAL.

TYPHOON AND SALMON TYPHOON, AND I THINK ONE IS EMERALD SHEET. THAT'S OUT OF NORTH KOREA. SO, THE NAMES SOUND REALLY COOL, BUT I THINK IT'S INTERESTING TO POINT OUT THAT WE CONSTANTLY TALK ABOUT HOW A.I. IS GOING TO HELP WHEN IT COMES TO THINGS LIKE BUSINESS PRACTICES OR EVEN.

SOME, YOU KNOW, CONSUMER APPLICATIONS, BUT ANY TIME THERE'S NEW TECHNOLOGY, HACKERS ARE OBVIOUSLY GOING TO LOOK AT IT AS WELL, SO THAT'S WHAT'S HAPPENING HERE. REGARDLESS OF HOW MUCH WE SEE AN ADVANCE IN TECHNOLOGY IN THE POSITIVE FOR COMPANIES THAT ARE.

DEFENDING THEMSELVES, CYBERSECURITY SPECIALISTS, THE ATTACKERS ARE ALWAYS GOING TO BE ONE STEP AHEAD. THAT'S JUST THE NATURE OF THIS GAME. IT'S THE SAME WAY HERE. THERE'S POTENTIAL THAT MAYBE A.I. CAN HELP LEVEL THAT PLAYING.

FIELD A LITTLE BIT, BUT IN ALL LIKELIHOOD, HACKERS ARE GOING TO FIGURE OUT A WAY TO GET AROUND THAT AND CONTINUE TO STAY AHEAD. >> YEAH, THAT'S ONE OF THE NEGATIVES OF A.I., AND THIS HEADLINE CAUGHT MY ATTENTION TOO. S.E.C. GARY GENSLER WAS SAYING.

INVESTORS SHOULD BE AWARE OF A.I. WASHING BECAUSE WE'VE SEEN A LOT OF ACTIVITY IN THOSE STOCKS THAT EVEN MENTION A.I. ON THEIR EARNINGS CALLS. I WANT TO GET YOUR TAKE ON THAT, BECAUSE I KNOW YOU COVER THIS SPACE CLOSELY. OBVIOUSLY, A.I. SEEMS TO BE THE.

BUZZWORD RIGHT NOW. WHAT DO YOU MAKE OF THE S.E.C. NOW SAYING, LOOK, GOT TO BE CAREFUL? >> IT'S REAL. YOU CAN TALK TO — I GOT COVID, SO I COULDN'T GO TO CES, BUT OUR OWN AKIKO FUJITA DID, AND SHE WAS SAYING THAT EVERYTHING THERE.

WAS BASICALLY A.I., RIGHT? IT'S THE GLUTEN FREE NOW OF THE TECH WORLD WHERE YOU WOULD JUST SLAP IT ON. I DON'T KNOW WHAT VODKA HAS GLUTEN IN IT, BUT APPARENTLY TITO'S HAS TO TELL YOU IT'S GLUTEN FREE. IT'S THE SAME IDEA.

YOU'RE SLAPPING A NAME ON SOMETHING, SO PEOPLE GO, OH, THAT'S GOT A.I. IN IT. YOU'RE GOING TO SEE COMPANIES DO THAT. WE SAW THAT WITH THE METAVERSE. WE SAW IT WITH NFTs. ANY COMPANY THAT EVEN THINKS ABOUT DABBLING IS GOING TO CALL.

THAT OUT, AND I MEAN, OBVIOUSLY, THE METAVERSE IS SOMEWHERE AT THIS POINT. I JUST DID A PIECE ON HOW EPIC IS BASICALLY EATING META'S LUNCH WHEN IT COMES TO GETTING THE METAVERSE GOING, BUT NFTs, THAT'S REALLY NOT AROUND, IS IT? I MEAN, IT'S — YOU KNOW,.

OBVIOUSLY, A.I. HAS FAR MORE PRACTICAL IMPLICATIONS THAN A SCRIPT SAYING THAT I OWN A DIGITAL VERSION OF A CAT EATING A HOT DOG THAT YOU CAN ALSO COPY AND GIVES ME ABSOLUTELY NOTHING BUT EMPTIES MY BANK ACCOUNT. BUT I DO THINK THAT IT'S GOING TO BE ONE OF THOSE THINGS WHERE.

YOU CONTINUE TO SEE A.I. JUST LABELED ON ANYTHING TO GET ATTENTION. >> YEAH. >> A.I. BUBBLE NOT BURSTING ANY TIME SOON. SO, YAHOO! FINANCE'S DAN HOWLEY, THANK YOU SO MUCH FOR THESE INSIGHTS.

>>> AND COMING UP, THE NEWESET EDITION OF OUR SERIES, “GOOD-BYE OR GOOD BUY?” STAY TUNED. MORE YAHOO! FINANCE AFTER THIS. ♪ >>> IT'S A BIG NOISY UNIVERSE OF STOCKS OUT THERE. WELCOME TO “GOOD-BYE OR GOOD.

BUY.” OUR GOAL, TO HELP YOU NAVIGATE THE BEST MOVES FOR YOUR PORTFOLIO. YOU'R WE'RE GOING TO BE LOOKING AT TWO E-COMMERCE STOCKS THAT ARE INFLUENCED BY CONSUMER SPENDING. WHAT'S THE BEST WAY TO PLAY IT.

NOW? I'M HERE WITH CITI INTERNET ANALYST. SO, THANK YOU FOR JOINING US TODAY. WE'RE GOING TO START WITH YOUR FIRST BUY HERE, AND GET THIS CHART MOVING. ALL RIGHT.

WAYFAIR. I'M GOING TO RUN THROUGH THE REASONS YOU SAY THIS IS A BUY FOR VIEWERS WHO ARE PLAYING ALONG AT HOME. LET'S GO THROUGH THE FIRST REASON. MARKET DOMINANCE. EXPLAIN THAT ONE TO US.

>> THAT'S AN INTERESTING ONE. THIS IS A REALLY FRAGMENTED MARKET, SO THERE IS NO REAL FULLY DOMINANT PLAYER, BUT WAYFAIR IS THE LEADER FOR PURE PLAY ONLINE FOR SURE. AND IF — IN TERMS OF DOMINANCE, WHAT THEY HAVE BEEN DOIJ RNG RI IS TAKING SHARE, SO THIS IS A.

MARKET THAT'S BEEN REALLY CHALLENGED OVER THE PAST COUPLE YEARS. WE'RE STILL SEEING PRESSURE ON THE CONSUMER AND HOW THEY'RE SPENDING. WE'RE NOT SEEING A REBOUND IN THE HOME GOODS CATEGORY JUST YET, BUT WAYFAIR HAS BEEN TAKING.

SHARE, SO THEY HAVE BEEN OUTPERFORMING THEIR COMPETITORS, AND THAT'S ONE OF THE REASONS THAT WE LIKE IT RIGHT NOW. >> MARKET DOMINANCE IS YOUR FIRST REASON. LET'S GET TO THE SECOND ONE. MARGIN EXPANSION. YOU SAY THIS COULD BE MATERIAL.

LOOKING AHEAD. >> YEAH. SO, WE'RE REALLY EARLY IN THE MARGIN EXPANSION STORY HERE. WAYFAIR INVESTED A LOT OVER THE COVID PERIOD AS A LOT OF OTHER COPANIES DID AND MADE SENSUE, GIVEN THE STRONG GROWTH THEY HAD AS EVERYBODY WAS LOCKED IN AND.

BUYING FURNITURE FOR THE HOME AND OFFICE. THEY HAVE HAD TO RIGHT-SIZE. THEY HAVE BEEN THROUGH A NUMBER OF LAYOFFS AND COST RIGHT-SIZING AND WE'RE NOW AT AN INFLECTION POINT WHERE THEY'VE STARTED TO GENERATE CASH OVER THE PAST COUPLE QUARTERS, SO THEY'RE FREE.

CASH FLOW POSITIVE. THEY ARE EBITDA POSITIVE. THEY HAVE BEEN COMING IN AHEAD OF SCHEDULE OVER THE LAST COUPLE QUARTERS ON THIS. THEY HAVE BEEN EXECUTING WELL ON THE COST CUTS, AND WE'RE STILL VERY EARLY. THE EBITDA MARGIN RIGHT NOW IS.

MID-SINGLE-DIGITS. LOW TO MID SINGLE DIGITS. IN THE MOST RECENT ROUND OF LAYOFFS, WHICH, YOU KNOW, IS UNFORTUNATE, BUT WAS NECESSARY, THE MANAGEMENT TALKED ABOUT GETTING TO $600 MILLION OF EBITDA, POTENTIALLY EVEN IN A FLAT REVENUE SCENARIO IN 2024,.

SO IF THE MARKET DOESN'T REBOUND, STILL TALKING ABOUT $600 MILLION OF EBITDA. THAT WOULD REPRESENT ABOUT 5% EBITDA MARGIN. THEY'VE TALKED ABOUT GETTING TO 10%. THAT'S THEIR NEAR-TERM TARGET. NO SPECIFIC TIMELINE ON IT, BUT.

NEAR TERM. THEY HAD AN INVESTOR DAY LAST YEAR WHERE THEY PAINTED A LONGER TERM PICTURE WHERE THEY CAN GET TO — ACTUALLY GET TO THE HIGH TEENS. SO, IF THEY CONTINUE TO EXECUTE, THEY'LL NEED SOME SUPPORT FROM THE MARKET AND CONSUMERS WILL.

NEED TO COME IN, BUT IF THEY CONTINUE TO EXECUTE, WE'RE STILL VERY EARLY ON THIS TRAJECTORY, AND YOU COULD SEE MATERIAL MARGIN EXPANSION OVER THE NEXT COUPLE OF YEARS. >> FINAL ONE, YGAL. FINAL BULLET POINT. GROWTH POTENTIAL.

WALK US THROUGH THAT. >> SO, YOU KNOW, LIKE WE SAID, THEY ARE TAKING SHARE FROM THEIR COMPETITORS, SO THAT'S BEEN REALLY IMPORTANT. AND THIS IS A SEGMENT THAT IS SEEING MOVEMENT ONLINE. SO, THIS CATEGORY IS STILL BELOW AVERAGE IN TERMS OF E-COMMERCE.

PENETRATION, SO THEY'RE BOOSTED BY THAT. THEIR BRAND REALLY RESONATES. THEY ARE KIND OF — THEY HAVE MULTIPLE BRANDS. THEY HAVE — WHERE THEY PUNCH THE MOST IS IN THE MIDDLE TIER, AND THEY HAVE A LOT OF PRODUCTS AT VALUE, BUT THEY ALSO HAVE.

ABOVE AS WELL. SO, LIKE, ON HIGHER-TIER PRODUCTS, AND THEY HAVE HIGHER TIER BRANDS, AND THEY TALK ABOUT B TO B AS A POTENTIAL OPPORTUNITY. E-COMMERCE SHIFT BENEFITS THEM, AND THEY HAVE AREAS WHERE THEY'RE STILL UNDERPENETRATED.

>> GOT IT. AND I'M GLE– YOU THINK VALUATI IS ATTRACTIVE. >> VALUATION IS A LITTLE BIT TRICKIER, JUST BECAUSE THEY ARE EARLY ON THE PROFITABILITY FRONT. BUT IF THEY ARE MAKING THE PROGRESS THAT WE EXPECT TO SEE.

HERE ON THE MARGINS, THE EBITDA VALUATION LOOKS PRETTY ATTRACTIVE, SO THEY'RE IN THE LOW TEENS, AND THEY COULD REALLY RUN FROM THERE. >> SO, FINALLY, VIEWERS AT HOME, THEY'RE CONVINCED, THEY'RE READY TO COMMIT CAPITAL. WHAT ARE SOME RISKS THEY NEED TO.

KNOW ABOUT? >> SO, WAYFAIR'S A REALLY INTERESTING ONE, BECAUSE IT'S NOT THE CLEANEST STORY RIGHT NOW. ON THE MACRO FRONT, IN PARTICULAR, THAT'S PROBABLY THE BIGGEST NEAR-TERM CHALLENGE THAT WE DO ENTER INTO A RECESSION.

THAT HASN'T HAPPENED YET. THE CONSUMER DOES GET SOFTER, AND THE CATEGORY REMAINS UNDER PRESSURE. THAT'S PROBABLY THE BIGGEST NEAR-TERM ONE. OVER THE LAST WEEK OR TWO, WE TARIFFS ON INBOUND CHINA GOODS.- THAT COULD HAVE A POTENTIAL.

IMPACT. WE HAVEN'T HEARD ANYTHING SPECIFICALLY ON THE RED SEA DRAMA. THAT COULD POTENTIALLY IMPACT SOME OF THE COSTS OF GOODS COMING IN FROM CHINA AS WELL. SO, THAT'S A POTENTIAL RISK. THOSE ARE THE MAIN ONES, AND.

THEN THE LAST ONE I WOULD JUST MENTION IS THEY, AGAIN, THEY'RE — THEY NEED TO MAKE PROGRESS HERE ON THE PROFITABILITY FRONT. THEY DO HAVE A GOOD AMOUNT OF DEBT COMING DUE OVER THE NEXT COUPLE YEARS, MOSTLY IN CONVERTIBLE NOTES, AND THEY.

REALLY NEED TO GET THAT ON THE FREE CASH FLOW SIDE AND GENERATE ENOUGH CASH SO THEY CAN ADDRESS THAT DEBT. >> WAYFAIR IS THE ONE YOU LIKE, YGAL. LET'S GO TO ONE YOU DON'T. THIS IS ETSY. LET'S GO THROUGH THESE REASONS.

RIGHT HERE. THE FIRST REASON, YOU WOULD SAY ETSY IS ONE TO AVOID. LOW VOLUME GROWTH. >> YEAH, SO, FOR ETSY, FIRST, START OFF BY SAYING THEY HAVE AN INCREDIBLE MANAGEMENT TEAM AND WE MIGHT GET TO THAT. THEY'VE DONE A GREAT JOB.

THEY WERE SUPER SUCCESSFUL DURING THE EARLY PART OF COVID. THEY SAW TRIPLE-DIGIT TOPLINE GROWTH AND VOLUME GROWTH. THEY SAW THEIR BUYERS DOUBLE, AND THEY HAVE HUNG ON TO THE MAJORITY OF THOSE GAINS. SO, ETSY DID A GREAT JOB. THE CHALLENGE IS OVER THE LAST.

YEAR OR SO, THEY'VE KIND OF RUN OUT OF STEAM, AND THEY HAVEN'T BEEN ABLE TO RECAPTURE THAT GROWTH PROFILE AGAIN, AND IT'S A LITTLE HARD TO SEE IN THE NEAR TERM. THEY ARE FULLY EXPOSED TO CONSUMER DISCRETIONARY. THAT'S EXACTLY WHERE THEY LIVE.

IN THE NEAR TERM, IT'S HARD TO SEE THEM MOVE PAST THAT. >> THAT WAS ACTUALLY YOUR SECOND POINT. TOO EXPOSED TO DISCRETIONARY SPENDING FOR YOUR LIKES? >> YEAH. I MEAN, 100% OF THE VOLUME ON THEIR PLATFORM IS CONSUMER.

DISCRETIONARY. WE TALKED ABOUT THAT WITH WAYFAIR TOO. THERE ARE SOME DIFFERENT DYNAMICS. SO, THOSE HEADWINDS ARE REALLY CHALLENGED. WHERE WE'RE SEEING THE BIGGEST IMPACT AN SPENDING RIGHT NOW IS.

ON CONSUMER DISCRETIONARY GOODS. YOU'VE SEEN A SHIFT ON SPEND FROM GOODS TO SERVICES. THAT HASN'T REALLY GONE AWAY. WE'RE SEEING WITH PRICES RISING ON ESSENTIALS AND NONDISCRETIONARY, THAT'S WHERE CONSUMERS ARE FOCUSING THEIR SPEND, AND UNFORTUNATELY FOR.

ETSY, THAT'S GETTING HIT THE MOST. >> COMPETITION IS YOUR THIRD REASON. HOW COME? >> SO, WE GET ASKED ABOUT THE RISE OF TEMU IN PARTICULAR AND SHEIN MORE THAN ANYTHING IN E-COMMERCE FROM OUR CLIENTS.

AND ETSY ACTUALLY CALLED OUT THE COMPETITION FROM TEMU LAST QUARTER. IT'S HAVING AN IMPACT ON THEM. THERE'S A COUPLE OF THINGS GOING ON. ONE IS A DOLLAR SPENT ON TEMU IS A DOLLAR LESS SPENT ON ETSY, AND THEIR MANAGEMENT TEAM TALKED.

ABOUT SEEING SOME OF THAT IMPACT. AND THEN THE OTHER FACTOR IS TE MU IS SPENDING A TON OF MONEY ON ADVERTISING. IF YOU WATCHED THE SUPER BOWL, YOU SAW THREE TEMU ADS. THEY'RE SPENDING A LOT ON PERFORMANCE MARKETING.

AND YOU KNOW, ETSY DRIVES TRAFFIC AND SALES THROUGH PERFORMANCE MARKETING. THAT'S LIFTING THE PRICES OF PERFORMANCE MARKETING, WHICH IS MAKING IT HARDER TO DRIVE PROFITABLE ROI AND ETSY HAS HAD TO SHIFT SOME OF THEIR SPEND FROM PERFORMANCE INTO OTHER.

CHANNELS. THE CHALLENGE IS THE ROI, THE PAYBACK PERIOD ON THAT IS A LITTLE BIT LONGER, SO IT TAKES LONGER TO CAPTURE THE VALUE FROM A TV BUDGET THAN A GOOGLE BUDGET. >> GOT IT. LET'S END HERE.

HOW COULD YOU BE WRONG, YGAL? >> WHERE WE COULD BE WRONG IS I GO BACK TO THIS MANAGEMENT TEAM, WHO IS EXCELLENT. JOSH AND RACHEL STARTED BOTH IN 2018 AROUND THE SAME TIME. THEY COMPLETELY TURNED AROUND THIS COMPANY, SO THEY ARE PASSBEING.

RUN BY A REALLY TRUSTWORTHY SET OF HANDS, AND I THINK THERE'S A LOT OF VALUE IN THAT. YOU CAN TRUST THEM TO TRY TO RIGHT-SIZE THE SHIP. AGAIN, IN THE NEAR TERM, I THINK THE HEADWINDS ARE A LITTLE BIT TOO BIG. YOU COULD SEE THE CONSUMER.

REBOUND A LITTLE FASTER THAN EXPECTED, AND THAT WOULD BOOST SOME OF THE STRATEGY. IF THEY DO A GOOD JOB ADDRESSING THE NEW COMPETITIVE LANDSCAPE, THAT CAN BE ANOTHER THING THAT BRINGS MORE GROWTH BACK. >> LET'S WIND UP FOR VIEWERS. YOU'RE SAYING, BUY WAYFAIR.

ON THE OTHER SIDE, YOU'RE SAYING RIGHT NOW YOU WOULD AVOID ETSY AS IT IS TOO RELIANT ON CONSUMER DISCRETION AND FACING COMPETITION FROM CHINA. WE'LL BRING YOU NEW EPISODES THREE TIMES A WEEK AT 3:30 P.M. EASTERN. MORE YAHOO! FINANCE RIGHT AFTER.

THIS. >>> LYFT SHARES CLIMBING TODAY AFTER A ROLLER COASTER 24 HOURS FOR THAT STOCK. LYFT SHARES ROCKETING UP NEARLY 70% IN THE AFTERHOURS TRADING YESTERDAY AFTER AN ERROR ON A KEY PROFITABILITY METRIC IN LYFT'S FOURTH QUARTER EARNINGS.

REPORT, BUT A STRONG EARNINGS REPORT THERE, INCLUDING PROGRESS MADE TOWARD PROFITABILITY SEEMS TO HAVE OFFSET ANY WORRIES OFF THAT ERROR. JOINING ME NOW TO TALK ABOUT IT IS LYFT'S CEO, DAVID RISHER. LOT TO TALK ABOUT, DAVID. I WANT TO GET TO THE EARNINGS.

REPORT. I GOT QUESTIONS ABOUT TAYLOR SWIFT AND BEYONCE. WE NEED TO GET TO THAT. FIRST, DAVID, LET'S TALK ABOUT, LISTEN, THIS ERROR, THIS TYPO THAT OCCURRED, DAVID. CAN YOU WALK US THROUGH WHAT HAPPENED?.

CAN YOU PINPOINT WHY IT HAPPENED AND HOW YOU'RE GOING TO MAKE SURE IT DOESN'T HAPPEN AGAIN? >> HEY, JOSH, GOOD TO SEE YOU. LISTEN, IT WAS AN ERROR. IT WAS A CLERICAL ERROR, AND AS I'VE SAID BEFORE, THIS IS ON ME. THE BUCK STOPS WITH ME. THERE ARE A LOT OF EYES THAT GO.

ON THESE SORTS OF PRESS RELEASES BEFORE THEY WIGO OUT. SOMEHOW, OUR EYES GOT A LITTLE CLOUDY AND DIDN'T SEE THIS EXTRA ZERO CREEP IN. I WOULD SAY THE GOOD NEWS IS AS SOON AS WE FOUND IT, WE WERE ARAB ABLE TO ISSUE A CORRECTION VERY.

QUICKLY. FIRST THING THIS MORNING, THE TEAM GOT TOGETHER AND DID A PRELIMINARY POSTMORTEM. WE'RE DOING ANOTHER ONE THIS AFTERNOON ON HOW IT HAPPENED AND HOW IT'S NEVER GOING TO HAPPEN AGAIN. IT'S AN ERROR.

FRANKLY, EMBARRASSING. NEVER WANT TO SEE THIS HAPPEN, BUT I'M THRILLED ABOUT HOW FAST THE TEAM HAS GOTTEN ON FIXING IT AND MAKING SURE IT DOESN'T HAPPEN AGAIN. >> DAVID, ONE MORE QUESTION ON THIS. WHEN YOU SAW — WE BROKE THAT.

PRINT ON AIR, AND YOU SAW THIS MOVE. MONEY WAS — LISTEN, DAVID, IT WAS MADE AND LOST ON THAT TYPO. YOU WOULDN'T BE SURPRISED IF REGULATORS WERE LOOKING AT THIS, IF LAWSUITS COULD START FLYING. FOR INVESTORS LISTENING TO THIS RIGHT NOW, DAVID, HOW SHOULD.

THEY THINK ABOUT THOSE POSSIBLE RISKS? >> YOU KNOW, IT'S HARD FOR ME TO COMMENT ON THIS. I DON'T THINK IT'S MATERIAL, BUT THAT'S NOT MY — I'M NOT TALKING ABOUT THE TYPO, I'M TALKING ABOUT THE RISK AFTER. IT'S NOT MY AREA OF EXPERTISE.

WE'RE DOING EVERYTHING WE POSSIBLY CAN. MISTAKES DO HAPPEN, OF COURSE. PRESS RELEASES GET ISSUED AT THE WRONG TIME. THESE THINGS HAVE HAPPENED BEFORE. I'M SURE THERE'S A PRECEDENT. >> LET'S TURN TO WHAT YU ARE AN.

EXPERT IN, WHICH IS LYFT'S BUSINESS RESULTS. LET'S GO THROUGH THAT PRINT, DAVID. YOU REPORTED, CLEARLY INVESTORS LIKE WHAT THEY SEE. CAN YOU WALK US THROUGH WHAT DROVE THE QUARTER? >> YEAH.

I MEAN, FOR ME, WHAT'S SO EXCITING IS IT VALIDATES OUR THESIS, WHICH IS THAT CUSTOMER OBSESSION CAN DRIVE PROFITABLE GROWTH. I MEAN, LOOK AT THE NUMBERS. WE'RE TALKING ABOUT HIGHEST BOOKINGS EVER, $13.8 BILLION IN BOOKINGS.

HIGHEST RIDERSHIP EVER OVER THE COURSE OF THE YEAR. I'M TALKING ABOUT OVER 40 MILLION RIDERS, 25% OF WHOM WERE NEW TO THE PLATFORM, WHICH IS FANTASTIC. 700 MILLION RIDES. I ALWAYS LIKE TO REMIND PEOPLE, EVERY SINGLE RIDE IS A THING,.

RIGHT? IT'S GOING TO THE YOUR SCHOOL. IT'S GOING TO WORK. IT'S GOING TO SEE YOUR FRIEND. IT'S GOING TO SEE YOUR FAMILY. IT'S GOING TO THE AIRPORT. BY THE WAY, FOR THE DRIVER, IT'S AN EARNINGS OPPORTUNITY, AND WE PAID OUT $8 BILLION IN DRIVER.

EARNINGS LAST YEAR. SO, IF YOU JUST LOOK — IT'S KIND OF CHECK, CHECK, CHECK, AND CHECK IN TERMS OF TAKING THAT CUSTOMER OBSESSION AND DROPPING MONEY TO THE BOTTOM LINE. WE WERE FREE CASH FLOW POSITIVE LAST YEAR, AND WE PROJECT THAT WE'LL BE ALL THROUGH 2024.

>> THAT WAS A BIG METRIC THAT GOT A LOT OF ATTENTION, DAVID. YOU ARE GUIDING TO BE FREE CASH FLOW POSITIVE THIS YEAR. HOW ARE YOU DOING THAT? WHAT LEVERS ARE YOU PULLING OVER THERE AT LYFT? >> AGAIN, A LOT OF IT IS CUSTOMER OBSESSION.

LYFT IS A — IT'S A SCALE BUSINESS, AND BY THAT, I MEAN, WE HAVE A CERTAIN FIXED COST BASE, AND WE HAVE BEEN VERY DISCIPLINED ABOUT MANAGING THAT. YOU MIGHT REMEMBER SHORTLY AFTER I JOINED THAT WE CUT COSTS, WHICH IS VERY PAINFUL, BECAUSE THAT MEANS HEAD COUNT, BUT IT.

SETS US AS A POSITION WHERE WE CAN START TO MAKE MONEY AS WE DRIVE MORE VOLUME ACROSS THE PLATFORM. THE MORE DRIVERS WE GET, BY THE WAY, THE FASTER ETAs, THAT'S PICKUP TIME, THE SHORTER THE WAIT, THEREFORE, THE MORE RIDERS TAKE WHAT, YOU KNOW, TAKE A LYFT.

RIDE, THE MORE RDERS WHO TAKE A LYFT RIDE, THAT'S MORE MONEY INTO THE SYSTEM, AND AS WE GROW THAT VOLUME FROM 700 MILLION RIDES TO 750 MILLION RIDES TO 800 MILLION RIDES, THAT'S HOW WE START MAKING MONEY. >> DAVID, ANOTHER THING THAT GOT MY ATTENTION.

TAYLOR SWIFT AND BEYONCE. YOU CALLED THIS OUT. THE IDEA WAS, YOU KNOW, THERE'S A LOT OF PEOPLE THAT ARE GOING TO THESE STADIUMS, CATCHING THESE SHOWS, THESE CONCERTS, AND WE KNOW THEY'RE TAKING LYFT TO GET THERE. >> YEAH.

YEAH. IT'S SO INTERESTING, JOSH. I MEAN, LOOK, I THINK, IN A SENSE, LIKE, THE BIG THING HERE, IT'S EVEN BIGGER THAN WHAT YOU'RE — BIGGER THAN TAYLOR SWIFT, AND NOW WE'RE TALKING BIG. IT'S ALMOST THE PHYSICAL WORLD.

FIGHTS BACK. FOR EVERY NEW DIGITAL DEVICE, EVERY NEW APP ON THE PHONE, FOR EVERY NEW GOGGLE OR WHATEVER THAT SHOWS UP, THERE'S JUST AS MUCH OF A LONGING IF NOT MORE SO FOR GOING OUT AND HAVING REAL-WORLD EXPERIENCES. IF YOU LOOK AT STADIUMS, YEAR ON.

YEAR, WE'RE UP 37%, JUST TRIPS TO STADIUMS. WHEN YOU ZOOM IN, AND NOW WE'LL TALK DIRECTLY ABOUT TAYLOR, IT'S INCREDIBLE. NASHVILLE, OUR RIDES WERE UP 25% WHEN SHE COMES TO TOWN. IF YOU LOOK IN CINCINNATI, RIDES TO THE HOTEL, BECAUSE A LOT OF.

PEOPLE ARE VISITING FROM OUT OF TOWN, WERE UP 60%. HERE'S A CRAZY STAT THAT BLOWS MY MIND. I THINK IT SPEAKS VERY HIGHLY OF TAYLOR SWIFT FANS. THEY TEND TO TIP THREE TIMES HIGHER THAN AVERAGE. SO, THERE'S THIS WHOLE ECOSYSTEM.

THAT GOES ALONG WITH TRAVEL IN GENERAL. EVENTS IN SPECIFIC, AND THEN TAYLOR IS KIND OF HER OWN THING. >> TAYLOR SWIFT FANS, THAT'S SOME INSIGHT. MORE GENEROUS THAN SOME MAY THINK. THEY'RE INCREDIBLE.

ON THE OTHER SIDE OF IT, DAVID, YOU KNOW, WOULD YOU BE CONCERNED ABOUT SLOWER GROWTH IF THERE WEREN'T, LET'S SAY, AS MANY CONCERTS FROM THESE KIND OF SUPERSTARS? >> I'M NOT, AND HERE'S WHY. IT'S NOT JUST CONCERTS. IT'S NOT JUST NFL GAMES.

IT'S NOT — IT'S THE SEAT SEATT STORM IN SEATTLE, WE DO SOMETHING INTERESTING IN SAN FRANCISCO THAT WE DON'T TALK ABOUT TODAY, BUT BETWEEN SPORTING EVENTS, CONCERT EVENTS AND FRANKLY HUMANS' DESIRE TO GET OUT AND ABOUT, I MEAN, THAT'S A REAL THING.

AND THIS IS WHAT JEFF BEZOS ALWAYS USED TO TELL ME. HE SAID, DON'T MAKE BETS ON SHORT-TERM THINGS. MAKE BETS ON LONG-TERM THINGS. AND WE'RE SOCIAL. SO, YOU CAN SEE EVERYTHING FROM BACK TO THE OFFICE, SOME OF IT VOLUNTARY, SOME OF IT.

INVOLUNTARY, BUT STILL, CONCERTS, TRAVEL, ALL THE REST. OVER THE LONG-TERM, THESE THINGS WILL ONLY GROW. >> I WANT TO GET YOUR TAKE ON DRIVERS FOR LYFT AND UBER EXPECTED TO STRIKE TODAY. ISSUES OVER PAY AND TREATMENT. WHAT'S YOUR MESSAGE TO THOSE.

DRIVERS? >> MY MESSAGE IS, WE'RE OBSESSING OVER YOU JUST LIKE WE'RE OBSESS BE OVER RIDERS. HERE'S THE EVIDENCE. LAST WEEK, WE PUT OUT A NEW DRIVER EARNINGS RELEASE. IT WAS OUR EARLY 2024 RELEASE, AND IT HAD THREE COMPONENTS.

SUPER FAST. THE FIRST ONE IS TRANSPARENCY. EVERY SINGLE WEEK, YOU SEE HOW MUCH RIDERS PAID AND HOW MUCH YOU'RE TAKING HOME. SUPER IMPORTANT TO DRIVERS. NUMBER TWO, A GUARANTEE. THAT TAKE RATE FOR A DRIVER WILL NEVER BE LESS THAN 70% AFTER.

EXTERNAL FEES. AND I MEAN, NEVER. WE WILL TRUE YOU UP AT THE END OF THE WEEK IF IT'S LESS. AND THEN THE THIRD IS QUICKER SORT OF TECHNICAL, BUT IT H IS – INVOLVES HOW A DRIVER CAN EFFECTIVELY APPEAL THE FACT THAT WE MAY HAVE TEMPORARILY TAKEN.

THEM OFF THE PLATFORM. BY THE WAY, 77% OF DEACTIVATIONS ARE NOW REACTIVATED WITHIN 24 HOURS. WE'RE MAKING REALLY STRONG MOVES ON ALL THE AREAS THAT DRIVERS TELL ME, AND THEY'RE VERY VOCAL ABOUT THEIR NEEDS, BUT OUR VIEW IS DRIVING IS A GREAT, GREAT WAY.

TO EARN MONEY, AND WE WANT TO MAKE IT FANTASTIC FOR DRIVERS. WE REALLY DO. >> DAVID, THANK YOU SO MUCH FOR TAKING THE TIME TO JOIN US TODAY. AS ALWAYS, VERY MUCH APPRECIATE YOUR TIME AND INSIGHT. >> OF COURSE.

THANKS, JOSH. I APPRECIATE IT. >>> COMING UP, CLOSING BELL ON WALL STREET. WE'RE CHECKING IN ON THE LATEST MARKET MOVES, THE TOP TRENDING TICKERS. STAY TUNED. >>> THE CLOSING BELL ON WALL.

STREET. LET'S GET A QUICK CHECK OF THE MARKETS. ALLIE, WE ARE ENDING THE DAY IN THE GREEN FOLLOWING THAT SHARP SELLOFF YESTERDAY. WE GOT THAT HOTTER CPI PRINT, BUT I'M LOOKING HERE. I JUST SEE GREEN ACROSS ALL THE.

MAJOR AVERAGED. THE DOW IS UP ABOUT 0.4%. THE S&P 500, YOUR BROAD GAUGE IS UP ABOUT 1% AND THE NASDAQ, THAT GOT HIT YESTERDAY, DIFFERENT STORY TODAY. IT'S GOING TO FINISH UP ABOUT 1.3%, AND MAYBE SOME OF THE GOOD FEELINGS HERE, WHY BUYERS.

PERHAPS FEEL LIKE IT COULD STEP IN, WE DID GET SOME POSITIVE FED SPEAK TODAY. WE GOT FED BANK OF CHICAGO AU AUST AUSTAN GOOLSBEE SAYING, LET'S NOT MAKE TOO MUCH. ONE HOTTER-THAN-EXPECTED CPI.

PRINT DOES NOT A TREND MAKE. INVESTORS BREATHING EASIER TODAY. STOCKS EDGING HIGHER JUST A DAY AFTER THAT MAJOR SELLOFF. JARED BLIKRE IS GOING TO TAKE US THROUGH A LOOK AT TODAY'S ACTION. >> YES, JOSH.

WE'RE SEEING A REPRIEVE TODAY IN THE BOND MARKET AND THE DOLLAR AND STOCKS ARE SHOOTING HIGHER. SPECIFICALLY, THE RUSSELL 2000, SMALL CAPS, UP OVER 2% AFTER A 4% DRUBBING YESTERDAY. STILL IN THE RED ON A TWO-YEAR BASIS BUT CLAWING BACK THOSE LOSSES.

LOOKING AT THE LEADERBOARD TODAY, INDUSTRIALS, A RARE LEADERSHIP POSITION, UP 1.65%. FOLLOWING THAT, THE THREE MEGA CAP SECTORS, COMMUNICATION SERVICES, TECH, AND CONSUMER DEPRECIATION. ONLY STAPLES AND ENERGY FINISHING THE DAY IN THE RED.

AND LET'S TAKE A LOOK AT THE DOW HERE SINCE INDUSTRIALS ARE LEADING. WE CAN SEE — WHERE IS IT — CATERPILLAR UP 1.25%. THE REAL LEADER HERE, NOT AN INDUSTRIAL. WE'RE SEEING SALESFORCE UP ALMOST 3%, AND INTEL UP OVER 2%,.

AND SPEAKING OF CHIP STOCKS, THERE WAS ANOTHER REALLY STRONG SHOWING HERE. NVIDIA, UP 2.5%. ANOTHER RECORD HIGH. WE HAVE BEEN SEEING A LITTLE BIT OF A DIFFERENCE BETWEEN CHIPS AND SOFTWARE, BUT PRETTY MUCH GREEN ALL AROUND THE BOARD.

SHOPIFY, UP 4.5%. AND IF WE TAKE A LOOK AT OUR LEADERBOARD TODAY, WE'RE GOING TO SEE A COUPLE INTERESTING THINGS. DISRUPTION. ARK IS UP 5.5%, AND THEN WE GOT THE CRYPTO TRADE. I WAS LOOKING AT THAT IN THE.

LAST HOUR. LET'S SHIFT OVER TO DISRUPTION HERE WHERE WE SEE ARK INNOVATION HOLDINGS, COINBASE UP 14%. THAT'S AS BITCOIN SURGES NORTH OF $50,000. WE ALSO HAVE SOME OTHER BIG MOVERS HERE. PATH IS UP 4%.

ROBLOX UP 4%. ROBINHOOD, AFTER EARNINGS, THAT IS UP 13%, AND THE LIST GOES ON HERE. THEN, JUST THINKING ABOUT THE BOND MARKET AND HOW WE CLOSE THE DAY, DID MENTION WE HAD A BIT OF A REPRIEVE, AND EVEN IN VOLATILITY, WE ARE SEEING.

MARKETS COME OFF THEIR HIGHS. THIS IS A LOOK AT THE VOLATILITY INDEX, THE VIX. THAT WAS ALMOST AT A 16 YESTERDAY, AND IT IS NOW BACK TO A 14 HANDLE. >> THANKS, JARED. ALWAYS GOOD TO SEE THAT VIX LOW AND THE STOCKS HIGH.

>>> SPEAKING OF HIGHER STOCKS, WE'RE JOINED NOW BY COLE SMEAD. THANK YOU SO MUCH FOR JOINING US. GREAT NEWS. WE FINALLY CLOSE IN THE GREEN AFTER THAT MAJOR SELLOFF YESTERDAY. GIVEN THAT, DO YOU THINK THE.

MARKET REACTION TO THOSE HOTTER-THAN-EXPECTED CPI NUMBERS WAS A BIT OVERBLOWN, AND COULD IT POSSIBLY BE A GOOD THING THAT NOW IT SEEMS LIKE THE FED AND MARKETS ARE AT LEAST ON THE SAME PAGE WHEN IT COMES TO THOSE POTENTIAL RATE CUTS DOWN THE LINE?.

>> YEAH, THANKS FOR HAVING ME. TO YOUR POINT, THE MARKET'S BEEN WRONG-FOOTED FOR QUITE A LONG TIME ON THIS IDEA THAT THE FED IS GOING TO LOWER RATES IN A HASTENED FASHION AND HAVE TO DO THAT BECAUSE OF THE ECONOMY. I THINK THE REAL SHOCKER TO PEOPLE IS, ONE, THE ECONOMY IS.

INCREDIBLY STRONG AND CONTINUES TO CHUG ALONG. YOU CAN SEE THAT IN THE JOB NUMBERS. THE SECOND THING IS, THE CPI IS STAYING STICKIER THAN PEOPLE WOULD HAVE EXPECTED, AND WE STARTED THIS YEAR WITH PEOPLE COMING INTO THE YEAR, SAYING,.

GREAT, WE'RE GOING TO BE LOWERING RATES IN MARCH. NOW, THE FED FUTURES ARE IN JULY. IF THEY DON'T END UP MOVING 'TIL OCTOBER, I THINK THERE'S A LOT OF PEOPLE THAT ARE GOING TO BE SITTING THERE, THINKING, WHY WAS I TAKING SO MUCH RISK WHEN I.

COULD HAVE COLLECTED OVER 5% IN SHORT-TERM RATES? AND I THINK THAT'S REALLY THE PICTURE TO CAST HERE. DO STOCKS MAKE SENSE BASED ON HOW MUCH YOU CAN GET SHORT-TERM IN THE FIXED INCOME MONEY MARKETS, AND IN MANY RESPECTS, THE ANSWER IS NO.

>> COLE, I'M ANXIOUS TO GET YOUR TAKE. WHEN DO YOU THINK THE FED DOES START CUTTING, BY HOW MUCH, AND HOW DOES THAT IMPACT AND INFLUENCE YOUR INVESTMENT STRATEGY? >> IT'S A GOOD QUESTION TO ASK, JOSH.

THINK ABOUT IT LIKE THIS. IF WE'RE GOING TO END UP AT THE END OF THE DAY AT 3%, THEN ALL THE EQUITY PEOPLE SHOULD BE FEELING REALLY GOOD ABOUT STOCKS, BECAUSE ULTIMATELY, WE'RE GOING TO GO TO A LOWER LEVEL OF THE SHORT-TERM COST OF CAPITAL.

IF WE'RE ENDING UP, YOU KNOW, SOMEWHERE NORTH OF 400 BASIS POINTS, THAT'S STILL VERY TIGHT MONETARY POLICY COMPARED TO WHAT MOST PEOPLE INVESTED OVER THE LAST 15 YEARS, AND I THINK THAT'S THE WAY TO THINK ABOUT IT. WE ALWAYS TALK ABOUT RECENCY.

BIAS, AND YET, HERE WE SIT WHERE PEOPLE WANT TO GO BACK TO WHAT THEY'RE USED TO, WHERE THEY HAVE MUSCLE MEMORY, AND THE REALITY OF THE SITUATION LOOKS TO BE THAT THE FED WILL BE TIGHT FOR A MUCH LONGER AND HIGHER LEVELS THAN PEOPLE WOULD HAVE ANTICIPATED.

THAT DOES NOT BODE WELL FOR MOST ASSETS NOW. YOU'RE THE BOND MARKET, YOU'VE ALREADY DEALT WITH THAT TO A CERTAIN EXTENT. IF YOU'RE REAL ESTATE, YOU'RE DEALING WITH THAT. STOCKS ARE REALLY THE LAST PERSON TO FIND JESUS.

>> SO, COLE, GIVEN THAT, DO YOU THINK THAT WE COULD POTENTIALLY SEE A NO-LANDING SCENARIO WHERE WE DON'T REACH THAT 2% INFLATION RATE? >> WELL, I DON'T THINK ABOUT THE NOMINAL LEVEL INFLATION, BECAUSE, AGAIN, INFLATION CAN BE A PRETTY TRICKY ARGUMENT.

IF YOU GO BACK AND LOOK AT THE 1970s, WE HAD A PICKUP OF INFLATION INTO THE LATE 1960s, AND THEN IT CAME OFF ITS HIGH, AND THE ROLLER COASTER TOOK IT BACK HIGHER FROM '72 TO '74. THE IDEA THAT BECAUSE INFLATION CAME TO A LOWER LEVEL, THAT IT'S BAD, THAT'S WHERE THE MARKET IS.

FALSE. THAT'S WHERE A LOT OF PEOPLE ARE WRONG, IN OUR OPINION. BABY BOOMERS LEFT THE WORKFORCE AFTER THE PANDEMIC. THEY'RE GONE. THEY'LL NEVER COME BACK. THAT'S A STRUCTURAL PROBLEM. SECONDLY, GOVERNMENT LARGESS,.

WE'RE GOING TO ADD 1% TO MEDICARE, MEDICAID, AND SOCIAL SECURITY NEXT YEAR. THAT IS A STRUCTURAL PROBLEM. LASTLY, THE PROBLEMS WE SEE OUTSIDE THE UNITED STATES ARE STRUCTURAL PROBLEMS. WE'RE GOING TO DEAL WITH HIGHER COSTS BECAUSE OF WARS.

UNLIKE MY CHILDHOOD, MIGHT I ADD. SO, THAT HAS NOT CHANGED. THAT WILL NOT CHANGE. SO, THE IDEA THAT INFLATION'S BEGGED OFF POLICY TOOLS, THE PROBLEM WITH THAT IS THE FED SAID THE SAME THING IN 2004. REALITY WAS, THEIR BEST CHANCE.

WAS GOOD LUCK BACK THEN. WE HAD AN ECONOMIC CALAMITY FOUR YEARS LATER, EVEN THOUGH THEY SAID OUR POLICY TOOLS ARE SO MUCH BETTER. MY POINT IS THAT JUST BECAUSE THE FED FEELS GOOD ABOUT THEIR POLICY TOOLS, DOESN'T MEAN INFLATION IS IN THE BAG.

IT MIGHT HAVE JUST BEEN GOOD LUCK. THAT'S IT IN THE INTERIM. >> SO, LET ME ASK YOU THIS. BECAUSE YOU SAY IT'S TIME TO “BUY THE DOGS,” OIL AND BANKS. THOSE ARE TWO INTEREST RATE SENSITIVE AREAS OF THE MARKET.

WHY DO YOU THINK NOW, IN PARTICULAR, IS A GOOD TIME TO GET INTO THOSE SECTORS? >> YEAH, YOU'RE JUST PAYING FAR LESS MULTIPLES TO GET THE RETURNS AND CAPITAL THAT YOU WOULD GET OTHERWISE. FOR EXAMPLE, SOMEONE MIGHT SAY, BUT COLE, THERE'S ASSET-LIGHT.

BUSINESSES OUT THERE THAT PRODUCE HIGHER RETURNS ON CAPITAL. YEAH, BUT YOU HAVE TO PAY FAR HIGHER BOOK MULTIPLES. FOR EXAMPLE, GOING OFF 40 TIMES REVENUES. TO USE SCOTT NMcNEILLY'S QUOTE FROM '02, THAT'S LIKE ASSUMING.

OVER THE NEXT FOUR YEARS, I DON'T HAVE TO PAY ANY EXPENSES OR PAY THE GOVERNMENT AT ALL. VERSUS, I CAN GO OUT AND FIND A BANK TODAY THAT PRODUCES HIGHER THAN 10% IN EQUITY AND PAY BELOW BOOK FOR THAT. THAT'S A GOOD WAY TO MAKE MONEY IN HISTORCAL STOCK RETURNS.

IN BANKING. IN OIL, THE SAME THING. YOU CAN GET BETTER RETURNS IN MANY OTHER BUSINESSES, AND YOU DON'T PAY THE SAME MULTIPLES. ARE THEY LIKED OR LOVED INDUSTRIES? NO, BANKING JUST HAD A BIG PROBLEM LAST YEAR.

PEOPLE RAN AWAY. OIL STOCKS DIDN'T HAVE SUCH A GOOD '23. THE DISAPPOINTMENT, IN MY OPINION, IS NOT WHAT PROTECTS YOU BUT IS WHAT IS LIKELY TO MAKE YOU A LOT MORE MONEY LOOKING FORWARD. >> WHAT ABOUT SMALL CAPS, COLE?.

THE RUSSELL 2000 HAD ITS WORST DAY SINCE JUNE 2022 YESTERDAY, BUT A LOT OF STRATEGISTS ARE BULLISH ON SMALL CAPS IN THE LONG RUN. >> I DON'T THINK THERE'S REALLY A SMALL CAP — SOMEONE SAYS, YOU KNOW, THEY PUT A GUN TO MY HEAD AND SAY, RUSSELL TWO VERSUS THE.

S&P, I THINK THE RUSSELL TWO WILL DO BETTER. IT'S BECAUSE BIG CAP TECH LOOKS SO STUPID. RUSSELL TWO OWNS NONE OF THAT. >> COLE, THANK YOU AS ALWAYS FOR JOINING US TODAY. REALLY APPRECIATE IT. >> THANK YOU GUYS.

APPRECIATE IT. >>> LET'S GET TO CISCO SHARES. THEY ARE SINKING HERE AFTER THE COMPANY REPORTED SECOND QUARTER EARNINGS. LET'S GET THOSE NUMBERS. ON THE BOTTOM, ADJUSTED EPS, 87 CENTS VERSUS 84. THAT'S A BEAT.

REVENUE, THE TOPLINE, $12.79 BILLION. STREET WAS CLOSER TO $12.71 BILLION, SO THAT'S A BEAT. ADJUSTED GROSS MARGINS CLOCK IN AT 66.7%. THAT'S BETTER THAN EXPECTED. THE ISSUE HERE IS CLEARLY THE.

GUIDE. FOR THE Q3 REVENUE, THEY'RE LOOKING FOR 12.1 TO $12.3 BILLION. STREET WAS CLOSER TO $13.1 BILLION, AND FOR THE YEAR, THEY'RE ANNOUNCING 51.5 TO $52.5 BILLION. BEFORE, THEY HAD BEEN SAYING.

MORE LIKE 53 P.8 TO $55 BILLION. THEY ARE ALSO GOING TO CUT ABOUT 5% OF THE GLOBAL WORKFORCE. >> THOSE LAYOFFS WERE EXPECTED TO BE ANNOUNCED. THE COMPANY'S WORKING TO STREAMLINE COSTS, PRIORITIZE PROFITABILITY, AND REALLY PIVOT THE OVERALL STRATEGY OF THEIR.

BUSINESS. THEY'RE LOOKING TO MAKE MORE OF A CLEAR SHIFT INTO SERVICES AND SOFTWARE. THEY HAVE THAT PENDING ACQUISITION OF SPLUNK, WHICH DEMONSTRATES PART OF THAT SHIFT, AND EVEN SPLUNK HAS BEEN LAYING OFF WORKERS IN PREPARATION OF.

THAT MERGER. COMING INTO THIS PRINT, THERE WERE LOW EXPECTATIONS. WE'VE SEEN THE SALES SLOW DOWN, THIS PILE-UP OF INVENTORY. CISCO, ONE OF THOSE COMPANIES STILL IMPACT BID THE PANDEMIC, AND WITH THE REACTION IN SHARES RIGHT NOW, INVESTORS WANT TO SEE.

MORE. THEY WANT TO SEE IMPROVEMENTS, AND INTERESTING THAT YOU BROUGHT UP THE GUIDANCE TOO, BECAUSE I FEEL LIKE IT'S BEEN A BIG THING DRIVING A LOT OF THESE STOCK PRICES AFTER HOURS. >> IT'S INTERESTING. A FEW MORE HEADLINES ABOUT THESE.

CUTS TO THE WORKFORCE. 5% OF CISCO'S WORKFORCE WOULD MEAN ABOUT 4,000 JOBS. IT IS INTERESTING HERE. LISTEN, CISCO IS STILL SEEN AS VERY MUCH — IT'S A KIND OF TECH BELLWETHER, RIGHT? IT DID MAKE ITS NAME IN HARDWARE WITH ROUTERS AND SWITCHES, BUT.

UNDER CEO CHUCK ROBBINS, THEY PIVOTED TO SOFTWARE AND SERVICES. PEOPLE WILL LOOK TO CISCO HERE TO KIND OF PULL OUT FROM THE CONFERENCE CALL, WHAT DOES IT SAY MORE BROADLY NOT JUST ABOUT CISCO BUT OVERALL ENTERPRISE TECH SPEND?.

>> THOSE SHARES ARE DOWN MORE THAN 5%. >>> STILL TO COME ON YAHOO! FINANCE, EARNINGS SEASON IS IN FULL SWING. AFTER THE BREAK, WE'LL DIVE INTO THE LATEST NUMBERS FROM TWILIO, TRIP ADVISOR, AND OCCIDENTAL PETROLEUM.

STAY TUNED. MORE YAHOO! FINANCE ON THE OTHER SIDE. >>> WELCOME BACK TO YAHOO! FINANCE. TESLA IN FOCUS TODAY AFTER BIG MONEY INSTITUTIONAL INVESTORS APPEAR TO BE TURNING BEARISH WITH SOME BELIEVING THE STOCK.

WILL UNDERPERFORM OVER THE NEXT SIX MONTHS. THAT'S THE TAKEAWAY FROM AN INFORMAL POLL BY MORGAN STANLEY. IMPORTANT TO NOTE THAT ANALYST ADAM JONAS DOES NOT AGREE WITH THE SENTIMENT, REMAINING OVERWEIGHT ON SHARES, BUT HE DOES SEE SOME ROADBLOCKS AHEAD.

YAHOO! FINANCE'S AUTO REPORTER PRAS SUBRAMANIAN IS HERE WITH MORE. ADAM JONAS, TYPICALLY A BIG TESLA BULL. WHAT ARE THE CONCERNS HERE? >> WELL, THEY HELD THESE INSTITUTIONAL LUNCHES WITH THEIR BIG SHAREHOLDERS EVERY NOW AND.

THEN. IN THIS CASE, IT WAS TESLA SHAREHOLDERS. IT TURNS OUT THAT THE BIG HEADLINE HERE IS LIKE YOU MENTIONED THERE. ALL OF THEM AT THE LUNCHEON SAID TESLA WILL UNDERPERFORM IN THE NEXT SIX MONTHS AND ALMOST ALL.

OF THEM SAID OVER THE NEXT 12 MONTHS. THESE GUYS OWN A LOT OF SHARES, BUT THEY'RE CONCERNED THE ACTUAL SHARE ITSELF WILL STAY WHERE IT'S AT THROUGH THE NEXT YEAR. WHY IS THAT? A FEW KIND OF CONCERNS HERE. NUMBER ONE, OBVIOUSLY, MUSK.

SIDELINING A.I. GROWTH WITH HIS TWEETS ABOUT WANTING TO CONTROL THE COMPANY. OTHERWISE, HE WANTS TO TAKE A.I. OUT OF TESLA. THAT'S SORT OF A BIG DRIVER FOR POTENTIAL FUTURE EARNINGS FOR THE COMPANY DOWN THE LINE. ALSO, VOLUME GROWTH.

THERE'S CONCERN THAT TESLA MAY NOT GROW THEIR VOLUMES. POTENTIALLY EVEN HAVE NEGATIVE GROWTH WITH VOLUMES, AND JUST THIS PAST QUARTER, THEY HAD ABOUT 35% GROWTH YEAR OVER YEAR. SO, THE CONCERN IS THAT WE'RE GOING TO HAVE SOME ISSUES WITH NOT JUST THE A.I. STUFF BUT ALSO.

THE FACT THAT THE COMPANY MAY NOT GROW AS MUCH. >> THIS IS COMING, PRAS, AS WE HEAR ABOUT THEY'RE UPPING SOME PRICING ON SOME TESLA VEHICLES. >> FOR THE MODEL 3, THE NEW UPGRADED MODEL 3, GOING TO SEE A PRICE HIKE HERE, 1,500 BUCKS, WHICH IS SURPRISING, GIVEN THE.

FACT WE'VE SEEN SO MANY PRICE CUTS IN THE PAST. THIS IS A NEW MODEL. THERE MIGHT BE MORE DEMAND FOR IT. BETTER SUSPENSION, BETTER INTERIOR COMPONENTS. JUST A BETTER CAR OVERALL. I'M NOT SURPRISED THEY MIGHT BE.

SEEING SOME LIFT HERE, BUT RIGHT NOW WITH THAT PRICE HIKE, IT'S GOING TO BE THE SAME PRICE AS A RWD MODEL Y, WHICH IS INTERESTING BECAUSE THAT'S THEIR BIG VOLUME MOVER. THE MODEL 3, WHICH HAS HISTORICALLY BEEN MUCH CHEAPER, NOW ALMOST REACHING PRICE PARITY.

THERE. >> PRAS AND TESLA, ONE OF THOSE NAMES WE LOVE TO TRACK. THANK YOU SO MUCH. >>> IT WAS ONCE DUBBED THE NEXT GOLD RUSH, BUT POST PANDEMIC, LITHIUM MINING HAS HAD A HARD RUN. THE MINERAL, USED IN MOST EV.

BATTERIES AND SMARTPHONES, WAS PRICED AT NEARLY $90 A TONE IN 2022 AND NOW COMES IN AT JUST OVER $13. BUT IS THE PAIN NOW PRICED IN? PIEDMONT LITHIUM MANAGED TO BE PROFITABLE AND WILL BE REPORTING EARNINGS THIS MONTH. ITS CEO, KEITH PHILLIPS, JOINS.

US NOW ALONG WITH OUR SENIOR REPORTER, INES FERRE. KEITH, AS WE ALLUDED TO, THE PRICING HAS BEEN VERY VOLATILE. IN ORDER TO COMPENSATE FOR THAT, YOUR COMPANY HAS HAD TO GO THROUGH SOME RESTRUCTURING, COMMITTING TO A $10 MILLION COST-CUTTING PLAN.

HOW DO YOU THINK THAT RESTRUCTURING PLAN WILL REALLY INSULATE YOUR BUSINESS FROM SOME OF THESE DOWNWARD PRICING PRESSURES THAT WE'RE SEEING? >> WELL, FIRST OF ALL, THANKS FOR HAVING ME. IT'S GREAT TO BE BACK WITH YOU GUYS AGAIN.

YEAH, THE RESTRUCTURING WAS DIFFICULT. WE HAD TO DO SOMETHING SIMILAR A FEW YEARS BACK WHEN WE WERE A SMALLER COMPANY. GREAT PEOPLE. THE PEOPLE DEPARTING ARE ALL TERRIFIC, AND WE WISH THEM THE BEST.

BUT WE'RE REALLY JUST WANT TO MAKE SURE WE GET OUR CASH OUTFLOW AND OUR COST POSITION KIND OF IN CHECK FOR THE CURRENT MARKET. SO, I HAVE BEEN IN THIS BUSINESS SEVEN YEARS. I JOINED IN A BULL MARKET, SUFFERED THROUGH THE BEAR MARKET.

IN 2020, 2021, WENT THROUGH A REALLY STRONG BULL MARKET OVER THE LAST COUPLE YEARS, AND NOW WE'RE IN ANOTHER BEAR MARKET. IT'S A CYCLICAL BUSINESS. WE'RE GOING TO HAVE OUR UPS AND DOWNS. THE WHOLE INDUSTRY WILL. I THINK THE GOOD NEWS IS, IN THE.

MINING SPEAK, LOW PRICES ARE THE CURE FOR LOW PRICES. SO, WITH THE PRICES BEING DONE NOW, 90% FROM THE PEAK, 15, 16 MONTHS AGO, JUST ABOUT EVERY NEW DEVELOPMENT PROJECT IS SLOWING DOWN OR BEING PUSHED TO THE RIGHT BY A YEAR OR MORE. AND IT JUST MEANS WE'RE GOING TO.

HAVE ANOTHER SUPPLY CRUNCH. IT'S A MATTER OF TIME, IN MY VIEW, AND PRICES WILL REBOUND. I THINK WE GO TO VERY HIGH LEVELS. WE NEED TO MAKE SURE WE'RE READY FOR THAT AND PREPARED FOR THAT. >> KEITH, WHAT DO YOU SEE HAPPENING IN THE MEANTIME?.

THERE IS A SUPPLY THAT'S EXPECTED TO GROW THIS YEAR. FOR HOW LONG — I MEAN, HOW LONG DO YOU THINK IT WILL TAKE FOR THE MARKET TO ABSORB ALL THIS? >> I DON'T THINK IT WILL TAKE LONG. I THINK THE MARKET, CUSTOMERS ARE AT RECORD LOWS IN THEIR.

INVENTORY LEVELS. AND I THINK CHINESE NEW YEAR IS ENDING SORT OF AS WE SPEAK, AND WE'RE HOPING FOR A RAPID BOUNCEBACK. WE'RE NOT BUDGETING FOR THAT, BUT IT COULD HAPPEN. I THINK DEMAND GREW VERY DRAMATICALLY LAST YEAR.

LITHIUM DEMAND WAS UP OVER 25%. EV DEMAND IN JANUARY OF THIS YEAR WAS UP 69% GLOBALLY FROM LAST JANUARY. VERY SIGNIFICANT CHANGE. I THINK THE DEMISE OF THE EV INDUSTRY IS GREATLY EXAGGERATED. OVERALL, LAST YEAR, DEMAND WAS UP 35% PARTNER EVs.

DEMAND IS GROWING. THERE ARE PROJECTS COMING ONLINE THIS YEAR. THERE AREN'T THAT MANY IN THE OVERALL SCHEME OF THINGS. AS YOU LOOK OUT TO 2025 AND '6 AND '7, WE KNOW THE PROJECT PIPELINE VERY WELL. VERY LITTLE THAT IS GOING TO GET.

DEVELOPED OR FUNDED IN THIS ENVIRONMENT. EVEN IF YOU HAVE A PROJECT READY TO DEVELOP, WHICH NOT MANY PEOPLE DO, YOU'RE GOING TO SLOW IT DOWN BECAUSE FINANCING IS MORE EXPENSIVE, DEBT IS MORE EXPENSIVE, EQUITY'S A LOT MORE EXPENSIVE FOR COMPANIES LIKE.

PIEDMONT, SO YOU'RE GOING TO BE MORE PATIENT AND WAIT FOR A STRONGER ENVIRONMENT. THAT'S JUST GOING TO HAPPEN. WE'VE SEEN ALBEMARLE ANNOUNCE DEFERRAL OZ OF THEIR PROJECTS. OUR PROJECTS ARE GOING TO MOVE MORE SLOWLY IN THE U.S. THEY'RE STRATEGICALLY IMPORTANT.

FOR US AND THE COUNTRY, BUT NOW IS NOT THE TIME TO FUND THEM. THOSE DELAYS MEAN THERE THEREBY A LOT LESS SUPPLY FOR THE CAR COMPANIES THAT NEED IT. I THINK THE RECOVERY IS A MATTER OF TIME. THE STRONG COMPANIES WILL KIND OF GET THROUGH THIS AND BE.

READY, AND I REALLY THINK, YOU KNOW, WE WENT FROM EUPHORIA TWO YEARS AGO TO DESPAIR TODAY. SOME HAVE DESCRIBED IT TODAY AS PEAK PESSIMISM. I THINK WE'RE IN THE EUPHORIC MINDSET NOT TOO FAR IN THE FUTURE. >> HOW DO YOU SEE THIS SHAKING.

OUT WITH THE PROJECTS, AS YOU MENTIONED, THESE PROJECTS THAT ARE SLOWING DOWN? DO YOU SEE CONSOLIDATION WITH SOME OF THESE PROJECTS, WITH SOME OF THESE COMPANIES THAT HAVE ANNOUNCED PLANS? >> YEAH, YOU KNOW, THERE'S — I GUESS THREE KINDS OF COMPANIES.

IN THE INDUSTRY. THERE ARE THE ESTABLISHED HANDFUL OF COMPANIES, LITERALLY, THAT'S ALL THERE ARE IN ALBEMARLE, ARCADIA, A COUPLE OTHERS, COUPLE OF THE CHINESE. THEY'RE ESTABLISHED. THEY HAVE PROJECT PIPELINES. SOME OF THEIR PROJECTS WILL.

ADVANCE. OTHERS WILL BE DEFERRED, I'M SURE. THERE ARE COMPANIES LIKE US THAT ARE EARLY STAGE PRODUCERS, SO WE HAVE THE ONLY PRODUCING MINE IN NORTH AMERICA CALLED NORTH AMERICAN LITHIUM WITH OUR PARTNERS OUT OF AUSTRALIA.

GREAT PROJECT. AGAIN, THE ONLY PRODUCING MINE IN NORTH AMERICA, THE BIGGEST LITHIUM OPERATION IN ALL OF NORTH AMERICA. THAT'S GREAT. WE WANT TO OPERATE THAT THROUGH THE CYCLE AND BE READY FOR WHEN THE MARKET REBOUNDS BECAUSE.

WE'RE PRETTY SURE IT WILL. THERE ARE DOZENS AND DOZENS, LITERALLY HUNDREDS OF EARLIER STAGE LITHIUM COMPANIES. SOME HAVE INTERESTING PROJECTS. OTHERS, LESS INTERESTING. IT'S GOING TO BE HARDER FOR THEM TO RAISE THE EQUITY CAPITAL. THOSE COMPANIES ARE WHERE WE.

WERE FIVE OR SIX YEARS AGO WHERE YOU DON'T HAVE REVENUE, YOU'RE FUNDING YOUR DEVELOPMENTS OUT OF EQUITY OFFERINGS, WHICH ARE TOUGH WHEN THE STOCK IS DOWN 50% OR MORE. I THINK IT WILL ALL MOVE MORE SLOWLY. AND I THINK IT'S JUST — THIS IS.

AN INDUSTRY THAT'S PROBABLY THE THIRD INNING OF ITS DEVELOPMENT. I MEAN, THE INDUSTRY IS PROBABLY QUADRUPLED IN THE SEVEN YEARS I'VE BEEN IN THE BUSINESS. IT'S GOING TO QUADRUPLE AGAIN FROM HERE OVER THE NEXT SEVEN TO TEN YEARS, AND AT SOME POINT, IT WILL BE MATURE.

I THINK THAT'S REALLY THE 2040s. FOR THE TIME BEING, I THINK WE'RE GOING TO GO THROUGH THESE VOLATILE TIMES. THE GOOD NEWS IS IF YOU LOOK AT THE STOCK PRICE GRAPHS AND THE LITHIUM PRICE GRAPHS, DOWN 90%, IT'S A PRETTY INTERESTING TIME TO TAKE A POSITION AND BUILD FOR.

THE LONGER TERM. >> KEITH PHILLIPS, APPRECIATE YOUR INSIGHT, AND AS ALWAYS, THANKS TO OUR INES FERRE. >> THANK YOU SO MUCH. >>> TAKING A LOOK AT TWILIO AS ITS FOURTH QUARTER RESULTS HIT THE WIRE. TWILIO REPORTS, AND INVESTORS.

NOT HAPPY, OR AT LEAST INITIALLY IN THE AFTERHOURS. LET'S TALK Q4 FIRST, BECAUSE THAT LOOKS GOOD RELATIVE TO CONSENSUS. ADJUSTED EPS, 86 CENTS VERSUS 56. THAT'S A BEAT. REVENUE, $1.8 BILLION VERSUS THE.

1.04 THAT ANALYSTS HAD MODELED. SO, BEATS ON THE BOTTOM AND TOP. I THINK, LIKE CISCO, THOUGH, WHICH WE JUST BROKE, I THINK THERE ARE ISSUES WITH THE FORECAST. Q1 REVENUE, THEY'RE CALLING FOR 103 TO 104, AND THE STREET WAS CLOSER TO 105, SO THAT'S A MISS.

>> YEAH, THIS HAS BEEN ANOTHER COMPANY JUST DEALING WITH DECELERATION IN SALES GROWTH. THE EXPECTATION, THOUGH, IS THAT THE FOURTH QUARTER WOULD BE THE BOTTOM OF THIS TREND, SO I DO AGREE WITH YOU THAT THE GUIDANCE THERE IS A BIT DISAPPOINTING. HSBC RECENTLY DOWNGRADED THE.

STOCK TO REDUCE FROM HOLD, CITING IT HAS A “LOW GROWTH PROFILE.” SO, IT'S REALLY ONE OF THOSE NAMES WHERE THE STORY IS GOING TO HAVE TO CONTINUE TO IMPROVE FOR INVESTORS MOVING FORWARD. >> YEAH, IT'S ONE OF THOSE PANDEMIC STORIES.

SUCH STRONG GROWTH AND DEMAND DURING THE PANDEMIC, BUT THEN YOU KIND OF SAW THAT SLOW POST-PANDEMIC AND WEAKEN FURTHER IN 2023. THERE HAS BEEN SOME BIG CHANGES IN THIS COMPANY'S C-SUITE. I DON'T THINK THAT SURPRISED A LOT OF PEOPLE, GIVEN THE.

STRUGGLES THE COMPANY WAS HAVING, AND THEN ANOTHER EXEC STEPPED IN, TAKE THE REINS, SO WE'LL SEE WHERE WE GO FROM HERE. BUT AT LEAST INITIALLY, INVESTORS AREN'T HAPPY, AND THE STOCK WAS ALREADY DOWN ABOUT 7% THIS YEAR HEADING INTO THE PRINT.

>> YEAH, NEVER GOOD. >>> WELL, COMING UP, WE'RE TAKING A DEEP DIVE INTO ELON MUSK'S SOCIAL MEDIA PLATFORM, X, AND HOW HIS LEADERSHIP OR LACK THEREOF HAS IMPACTED THE COMPANY. STAY TUNED. MORE YAHOO! FINANCE AFTER THIS.

>>> LESS THAN TWO YEARS AGO, ELON MUSK CLOSED HIS TAKEOVER OF TWITTER. THE APP HAS BEEN RENAMED X. THE COMPANY'S HEAD COUNT HAS PLUMMETED, ALONGSIDE AD SALES. MUSK STEPPED BACK AS CEO, BUT HIS CONDUCT REMAINS A HEADACHE FOR NEW LEADERSHIP.

IN HER NEW BOOK, “EXTREMELY HARD CORE,” AUTHOR ZOE SCHIFFER OFFERS INSIDE DETAILS OF MUSK'S TUMULTUOUS TENURE. WE'VE GOT A FEW BOOKS NOW ON ELON MUSK TWITTER. GOT YOUR BOOK. THERE'S KURT WAGNER. THERE'S BEN, I THINK.

THIS IS A TOPIC GETTING A LOT OF ATTENTION. WHY, ZOE, DID YOU DECIDE — WALK US THROUGH THIS WORK. WHY DID YOU DECIDE THIS WAS A SUBJECT YOU WANTED TO TACKLE, REPORT, AND WRITE A BOOK ON? ZOE, YOU MIGHT BE MUTED THERE. >> I WAS MUTED FOR A SECOND.

THE MAIN REASON WAS JUST THAT I HAD SPENT A YEAR REPORTING ON ALL OF THE INS AND OUT OF WHAT HAD HAPPENED IN THE ACQUISITION AND BEATING OUT SOME OF THE BIGGER PUBLICATIONS TO GET THOSE STORIES FIRST. WHILE I KNEW I WAS GOING TO BE COMPETING WITH MANY BIG-NAME.

AUTHORS ON THIS TOPIC, I WANTED TO TELL A VERY SPECIFIC STORY, WHICH IS WHAT IT WAS LIKE BEING THERE IN THE ROOM WITH ELON MUSK AS ONE OF THE EMPLOYEES AS ALL THIS WAS GOING ON. I TOLD THE STORY THROUGH THE ACCOUNTS OF FOUR INDIVIDUALS WHO HAD DIFFERENT EXPERIENCES BUT.

WORKED VERY CLOSELY WITH ELON MUSK FOR THE 12 MONTHS AFTER HE BOUGHT THE COMPANY. >> ZOE, YOU'VE BEEN FOLLOWING MUSK'S CAREER FOR A VERY LONG TIME. HE CERTAINLY IS A CONTROVERSIAL FIGURE. BUT HE DOES ALSO HAVE THIS.

CULT-LIKE FOLLOWING. SO, WHY DO YOU THINK MUSK IS SUCH AN INTRIGUING FIGURE OUT THERE? >> I THINK IT'S BEEN VERY WELL DOCUMENTED THAT THERE'S A MUTUALLY BENEFICIAL RELATIONSHIP BETWEEN HIS FANS AND HIM. A LOT OF HIS FANS ARE ALSO HIS.

STOCKHOLDERS. THERE'S A REASON TESLA IS NUMBER ONE IN ROBINHOOD, THAT RETAIL STOCK THAT PEOPLE BUY. HE REALLY INDULGES THAT COMMUNITY, AND THEY REALLY FIGHT FOR HIM. IT'S BEEN A SITUATION WHERE AS HE'S GOTTEN MORE AND MORE.

CONTROVERSIAL, AS HE'S SLID AND BECOME A LITTLE MORE RIGHT-WING, OVERTLY RIGHT WING, HIS AUDIENCE, IT'S LIKE HE'S MADE OF TEFLON. EVERYTHING SLIDES OFF HIM BECAUSE HE CONTINUES TO BE ENORMOUSLY SUCCESSFUL FINANCIALLY, AND HIS FANS.

BENEFIT FROM THAT. >> ZOE, I'M INTERESTED. OBVIOUSLY, YOU SPENT A LOT OF TIME THINKING ABOUT THIS COMPANY, WHERE IT WAS, WHERE IT IS, AND WHERE IT'S HEADED. I'M INTERESTED IN HOW YOU THINK MAYBE THE BUSINESS MODEL COULD SHIFT GOING AHEAD.

WE ALL SAW MUSK, AND HE MADE HIS VIEWS ON ADVERTISERS PRETTY WELL KNOWN. DO YOU THINK HE DID THAT BECAUSE, MAYBE IN THE FUTURE, ADVERTISING WILL BE LESS IMPORTANT, AND SOMEHOW THE ECONOMICS OF THE BUSINESS COULD CHANGE?.

MORE SUBSCRIPTION AND A.I.? >> YEAH, YOU'RE SPOT ON. HE'S HAD A GOAL OF DIVESTING TWITTER, NOW CALLED X, FROM ADVERTISERS FROM DAY ONE. HE SAID VERY CLEARLY THAT HE HATES ADVERTISERS, AND THE REASON FOR THAT IS VERY APPARENT.

ADVERTISERS, IN ONE SENSE, ARE CONTENT MODERATORS. THEY WANT A STABLE PLATFORM WHERE THEIR AD WILL SHOW UP NEXT TO A TWEET FROM LeBRON JAMES, NOT A HATEFUL COMMENT OR A NUDE PHOTO OR ANYTHING LIKE THAT. AND THE REALITY IS THAT ELON MUSK DOESN'T WANT TO HAVE THOSE.

KINDS OF CONSTRAINTS ON THE PLATFORM. SO, HE SEES SHIFTING THE BUSINESS MODEL TOWARDS SUBSCRIPTIONS AND ARTIFICIAL INTELLIGENCE AS BEING A BIG GOAL OF HIS. UNFORTUNATELY, IT'S BEEN VERY DIFFICULT FOR HIM TO DO THAT SO.

FAR AS WE'VE SEEN WITH KIND OF THE PLUMMETING SALES OF TWITTER BLUE. >> WHERE, THEN, DOES THE FUTURE OF THIS BUSINESS LIE? WE'VE SEEN AN INFLUX OF BOTS AND SPAM ACCOUNTS ON X, WHICH ALSO GOES AGAINST WHAT MUSK ULTIMATELY WANTS THIS CANBERRA.

— COMPANY TO BE. IF YOU DON'T HAVE ADS, WHAT DO YOU HAVE TO DRIVE THIS BUSINESS? >> RIGHT NOW, I'M TOTALLY SPECULATING, BUT HE'S TALKED A LOT ABOUT GOING HARD ON PAYMENTS, MAKING X A PAYMENTS PLATFORM IN ADDITION TO A SOCIAL PLATFORM.

YOU COULD IMAGINE HOW THAT WOULD GENERATE REVENUE FOR THE BUSINESS. I ALSO PERSONALLY THINK HIS GENERATIVE A.I. COMPANY, XAI, THAT HAS A SYNERGISTIC RELATIONSHIP WITH X, WILL BE THE MAIN FOCUS, AND IF HE'S CONTINUING TO COURT INVESTMENT,.

THE INVESTMENT DOLLARS WILL GO TO THE A.I. COMPANY, WHICH HAS ALL THE MOMENTUM IN THE TECH INDUSTRY RIGHT NOW, AND X WILL BE A TRAINING GROUND FOR THE LARGE LANGUAGE MODELS THAT THAT COMPANY IS BUILDING, BUT MAYBE WON'T BE THE SOURCE OF ALL THE INVESTMENT AND THE RESOURCES.

MOVING FORWARD. >> INTERESTED TO GET YOUR TAKE ON LINDA YACCARINO, BROUGHT IN, GIVEN HER EXPERTISE, HER BACKGROUND, HER CONTACTS ON MADISON AVENUE, WHAT DO YOU MAKE OF THE JOB SHE'S BEEN ABLE TO DO? DO YOU HAVE ANY SENSE SHE'S BEEN.

ABLE TO MAKE ANY HEADWAY WITH MARKETERS? >> YEAH, I MEAN, SHE'S DONE A PRETTY MASTERFUL JOB GIVEN THE SITUATION AND CONTINUING TO COURT BIG-NAME ADVERTISERS. SHE'S ABLE TO GET A BUNCH OF THEM BACK FOR THE SUPER BOWL, IN PARTICULAR, BUT SHE'S UP AGAINST.

A VERY DIFFICULT SITUATION. SHE'S ABLE TO GET THOSE ADVERTISERS BACK FOR THE SUPER BOWL. AT THE SAME TIME, DURING THE SUPER BOWL, WHAT IS ELON MUSK TWEETING ABOUT? HE'S TWEETING ABOUT BOOBS, AND THAT'S NOT AN ATTRACTIVE.

SITUATION FOR YOUR AVERAGE ADVERTISER. SHE'S CONTINUING TO TRY TO GET THEM ON BOARD BUT ALSO HAVING TO CLEAN UP ELON MUSK'S MESSES. >> ZOE — I'M SORRY, ALLIE. I JUMPED RIGHT INTO YOUR SPOT. >> YOU'RE GOING TO HAVE ANOTHER BOOK TO WRITE SOON, BECAUSE ELON.

MUSK IS NOT GOING ANYWHERE ANY TIME SOON. ZOE SCHIFFER, THANK YOU SO MUCH. >> THANK YOU FOR HAVING ME. >>> ALL RIGHT, WELL, WE'RE GETTING SOME MORE EARNINGS IN. SHARES OF TRIP ADVISOR, HIGHER AFTER THE COMPANY EXCEEDED FOURTH QUARTER EARNINGS.

EXPECTATIONS ON BOTH THE TOP AND BOTTOM LINES. TO GET THROUGH SOME OF THESE NUMBERS HERE, ADJUSTED EARNINGS COMING IN AT 38 CENTS A SHARE. THE STREET WAS EXPECTING 21 CENTS, SO A SIGNIFICANT BEAT THERE. REVENUE, ALSO COMING IN AHEAD OF.

ESTIMATES. 390 MILLION VERSUS THE EXPECTED $373 MILLION ADJUSTED EBITDA ALSO BEATING IN THE FOURTH QUARTER. AND ON TOP OF THAT, TRIP ADVISOR IS EXPLORING A POTENTIAL SALE. THE COMPANY SAID IT HAS FORMED A SPECIAL COMMITTEE TO EVALUATE.

POTENTIAL OFFERS TO BUY THE COMPANY OR RELATED TRANSACTIONS, AND A LOT OF ANALYSTS ON THE STREET ARE ACTUALLY BULLISH ABOUT THIS. WE SAW TD COWEN RECENTLY RAISE ITS PRICE TARGET ON THE STOCK AND KEEP ITS MARKET PERFORM RATING ON THE HEELS OF THAT.

POSSIBLE DEAL NEWS. PERHAPS SOMETHING WILL COME OUT OF THAT. >> THE STOCK, JUST REMEMBER, IT SURGED WHEN REUTERS FIRST HAD THAT. REALLY PUMPED UP. CLEARLY, ANALYSTS, INVESTORS ARE GOING TO BE VERY KEEN TO HEAR.

ANY MORE ON THAT. ARE THERE ACTIVE DISCUSSIONS? IF THERE ARE DISCUSSIONS, ARE THERE POTENTIAL ACQUIRERS? ANY COLOR AND COMMENTARY THE STREET CAN GET, THAT'S WHAT THEY'LL BE FOCUSED ON. >> ANY DEAL, I THINK, PUMPS THAT STOCK HIGHER.

WE'RE UP ABOUT 5% RIGHT NOW. >>> COMING UP, HOW DOES THE BOX OFFICE KEEP UP WITH THE RAPIDLY CHANGING MEDIA LANDSCAPE? WE SPEAK TO THE CEO OF MOVIE PASS ON THE OTHERSIDE. >>> THE BOX OFFICE EXPERIENCING ITS WORST WEEKEND SINCE THE PANDEMIC LAST WEEKEND, COMPETING.

WITH SUPER BOWL LVIII. THIS COMING AGAINST THE BACKDROP OF AN INDUSTRY STRUGGLING TO FIND SUCCESS OUTSIDE OF SEQUELS AND ALREADY-EXISTING IP. FOR MORE ON THE MOVIE LANDSCAPE IN 2024, WE'RE TALKING TO MOVIEPASS COFOUNDER AND CEO, STACEY SPIKES.

STACEY, THANK YOU SO MUCH FOR JOINING US. AND LOOK, YOUR BUSINESS RELIESS ON PEOPLE GOING TO THE MOVIES, SO WHAT DO YOU MAKE OF A DISAPPOINTING WEEKEND LIKE WE JUST SAW, AND ARE THERE ANY CONCERNS IF WE CONTINUE TO SEE THAT UNDERPERFORMANCE FOR YOUR.

BUSINESS? >> YEAH, ACTUALLY, JANUARY'S ALWAYS A SOFT PERIOD. I THINK YOU'RE SEEING SOME RESTOCKING GOING ON WHERE YOU HAD A LOT OF CONTENT MOVE OUT, AND IT'S STARTING TO MOVE BACK IN. YOU'RE SEEING TITLES.

LIKE “DUNE,” WHICH IS COMING IN MARCH, WHICH IS NORMALLY SOMEONE WHO'S GOING TO SIT IN THE FOURTH QUARTER OR, SAY, THE SUMMER COMING OUT IN MARCH, SO I THINK THAT'S NORMAL BUT I DON'T SEE ANY BIG CONCERN OVER IT. >> STACEY, YOUR COMPANY, MOVIE PASS, JUST ACHIEVED ITS FIRST.

YEAR OF PROFITABILITY, AND IT WASN'T TOO LONG AGO THAT YOU BOUGHT THIS COMPANY OUT OF BANKRUPTCY. HOW WERE YOU ABLE TO GET TO THAT PROFITABILITY, AND WHAT WERE THE LESSONS LEARNED ALONG THE WAY? >> YEAH, WELL, THE AMAZING THING ABOUT IT WAS, YOU KNOW, BACK.

WHEN THE COMPANY WAS SOLD AND WENT THROUGH ITS ISSUES, WE ACTUALLY HAD THE ABILITY TO BENEFIT FROM A LOT OF A.I. AND MACHINE LEARNING UPGRADES THAT WE JUST DIDN'T HAVE BACK THEN. THAT WAS A BIG DIFFERENCE AND THEN OUR NEW CREDIT SYSTEM THAT WE INTRODUCED ALSO REALLY MADE A.

BIG CHANGE IN THE BUSINESS MODEL AND THE CAPABILITY OF BEING ABLE TO PERFORM PROPERLY. SO, THAT'S THE TWO MAJOR UPDATES THAT WE WERE ABLE TO DO THAT REALLY HELPED EVERYTHING. >> AND HOW CAN YOU SUSTAIN THIS PROFITABILITY, ESPECIALLY WHEN YOU'RE IN AN INDUSTRY WHERE.

WE'RE SEEING A LOT OF TURMOIL? >> YOU KNOW, MAYBE WE'RE BULLISH AND LONG ON IT, BUT THE REALITY IS WE'RE SEEING THAT THE STUDIOS WHO WERE CREATING CONTENT FOR THE STREAMERS HAVE SEEN THE BENEFIT. WHERE YOU SEE THEM REPURPOSING TITLES, WE HAVE HAD, LAST YEAR,.

COMMITMENT FROM APPLE WITH MORE THAN A BILLION DOLLARS AND AMAZON AND EVEN NETFLIX COMMITTING TO THE THEATRICAL EXPERIENCE. SO, I THINK YOU'VE GOT A PIPELINE LAG THAT YOU'RE LOOKING AT, BUT ALL IN ALL, PEOPLE ARE COMING BACK.

YOU SAW A LOT OF YOUNG PEOPLE STARTING TO USE THEATERS AS CONCERT VENUES WITH THE TAYLOR SWIFT CONCERT AND BEYONCE. SO, WE'RE SEEING IT BECOME MORE OF A LIVE EVENT. YOU'RE SEEING MORE IMAX RELEASES. ALL IN ALL, I ACTUALLY FEEL.

REALLY POSITIVE ABOUT IT. >> AND I WANT TO PICK UP ON THAT POINT WITH THE PIPELINE LAG, BECAUSE IN TERMS OF CONSUMER DEMAND, I'M ASSUMING YOU SEE MORE SIGN-UPS WHEN THERE'S ACTUALLY A LOT OF MOVIES IN THE THEATER, RIGHT? LIKE THIS PAST SUMMER WITH.

BARBENHEIMER. YOU MENTIONED THE LULLS THAT WE HAVE HAD. POST-COVID, POST-HOLLYWOOD STRIKES. IS THERE A WAY THAT YOU COULD ATTRACT USERS TO YOUR PLATFORM WHEN YOU PERHAPS DON'T HAVE A TON OF MOVIES?.

I KNOW YOU MENTIONED SOME OF THOSE EXAMPLES, BUT WHAT OTHER WAYS COULD YOU BOOST THAT DEMAND? >> REQUESTER US, AS A BUSINESS MODEL, THE MAJOR TENT POLES AREN'T THE DRIVERS IN PEOPLE WANTING A SUBSCRIPTION PLATFORM WHERE THEY'RE GOING TO.

EXPERIMENT MORE. WE FIND THEY'RE ACTUALLY MORE INTERESTED IN THE INDEPENDENT TITLES, AND THAT'S WHERE THE PERMI EXPERIMENTATION HAPPENS. WITH “DUNE” AND “SPIDER-MAN,” AND IMAX TITLES, THAT WOULDN'T CHANGE YOUR BUSINESS.

IT'S NOT ENOUGH OF THOSE TITLES, BUT IT'S ALL OF THE SMALLER ONES LIKE WE SAW WITH “ORIGIN.” WE SAW WITH “POOR THINGS,” A LOT OF THE OSCAR NOMINEES. THAT'S WHERE, YOU KNOW, 75% OF OUR MEMBERS ARE UNDER THE AGE OF 35, AND THEY LIKE TO EXPERIMENT. SO, IF YOU'RE GOING TO END UP ON.

OUR PLATFORM, THERE'S A LOT OF INVENTORY SITTING THERE. >> THAT'S INTERESTING, ESPECIALLY SINCE WE'VE SEEN SEQUELS AND THAT KNOWN IP REALLY DRIVING SOME OF THE BOX OFFICE THERE. BUT IN TERMS OF COMPETITION, WE'VE SEEN THINGS LIKE AMC.

STUBS, OTHER TYPES OF REWARD PROGRAMS. HOW ARE YOU LOOKING TO COMBAT THOSE TYPES OF COMPETITORS OUT THERE AND REALLY STAY ON TOP OF THE GAME? >> GREAT QUESTION. THE DIFFERENCE BETWEEN MOVIE PASS IS YOU CAN GO TO LITERALLY.

ANY THEATER. SO, AS LONG AS IT ACCEPTS MAJOR CREDIT CARDS, THAT THEATER IS OPEN TO YOUR SYSTEM, AND WITH AMC, YOU CAN ONLY GO TO AN AMC, SO THAT IS A LOYALTY PROGRAM JUST FOR THEM, BUT ON AVERAGE, IN OUR SYSTEM, THE AVERAGE CUSTOMER GOES TO 2.4 DIFFERENT.

THEATER LOCATIONS. SO, THEY WANT THE ABILITY, LAST MINUTE, TO MAKE A DECISION AND SAY, MAYBE I GO OVER HERE. MAYBE I GO OVER THERE. THEY'RE DECIDING THAT DAY BASED ON WHAT TIMES THE DIFFERENT MOVIES WILL START, AND IT GIVES THEM THAT FLEXIBILITY.

AND THEN, THE OTHER BENEFIT WITH MOVIEPASS IS YOU STILL CAN HAVE A LOYALTY PROGRAM AT THOSE THEATERS AND GET YOUR REWARD POINTS FOR GOING THERE AS WELL. SO, IT'S KIND OF A DOUBLE WIN WITH MOVIEPASS VERSUS BEING LOCKED INTO ONLY ONE THEATER CIRCUIT THAT YOU CAN GET.

BENEFITS FROM. >> ALL RIGHT. STACY SPIKES, THANK YOU SO MUCH. I'M PLANNING TO WATCH “POOR THINGS” TONIGHT. I'M EXCITED. I NEED TO WATCH ALL MY OSCAR MOVIES BECAUSE WE'RE HEADING INTO AWARDS SEASON VERY QUICKLY.

WITH THE CONSTEOSCARS COMING UP. >> YOU GOT IT. ENJOY. >>> AND TAKING A LOOK AT SHARES OF OCCIDENTAL PETROLEUM HERE AFTER HOURS. COMPANY'S FOURTH QUARTER RESULTS JUST CROSSING THE WIRE. LET'S GET TO THOSE.

Q4 ADJUSTED EPS 74 CENTS. THAT'S A BEAT. STREET WAS CLOSER TO 67. LOOKING AT NET SALES, $7.17 BILLION. THAT'S ALSO A BEAT. CONSENSUS WAS AROUND $6.84 BILLION. LOOKING AHEAD, IT LOOKS LIKE.

THEY'RE CALLING FOR 2024 CAPEX BETWEEN 6.4 AND $6.6 BILLION. THE ESTIMATE WAS CLOSER TO $7 BILLION. >>> LOOK, THIS IS A FAVORITE WITH WARREN BUFFETT, THE ORACLE OF OMAHA. HE ACTUALLY ADDED TO HIS POSITION IN OCCIDENTAL PETROLEUM.

ALONG WITH CHEVRON AND SIRIUS XM, SO YOU HAVE THE STAMP OF APPROVAL FROM WARREN BUFFETT, AND THIS IS A COMPANY THAT'S DEALING WITH THE SAME EXPOSURES AS A BROADER ENERGY LANDSCAPE. THERE'S GEOPOLITICAL CONCERNS. AND WE'VE SEEN THAT REFLECTED IN THE UNDERPERFORMANCE OF SHARES.

WHERE FLATTENED AFTERHOURS RIGHT NOW BUT WE'RE DOWN ABOUT 3% SINCE THE START OF THE YEAR. SHOULD BE AN INTERESTING COMPANY TO CONTINUE TO TRACK, ESPECIALLY WITH BUFFETT BOOSTING HIS POSITION THERE. >> YEAH, AND THE ACQUISITION OF CROWN ROCK WILL BE IN FOCUS TOO.

WHERE THEY ANNOUNCE AROUND DECEMBER, AROUND $12 MILLION, JUST THE FLURRY OF DEALS, DEAL-MAKING, CONSOLIDATION WE'VE SEEN IN THE ENERGY SECTOR HAS BEEN A BIG THEME. >>> COMING UP, WHAT TO WATCH TOMORROW. WE'RE GOING TO BREAK DOWN THE.

STORIES YOU NEED TO KNOW TO START YOUR DAY. >>> WELL, IT'S VALENTINE'S DAY, AND AMERICANS ARE EXPECTED TO SPEND $2.4 BILLION ON CANDY ALONE, BUT IT'S COSTING MORE AS COCOA FUTURES HAVE SPIKED. YAHOO! FINANCE BROOKE DiPALMA IS HERE WITH THE DETAILS.

>> GOOD AFTERNOON TO YOU BOTH. HAPPY VALENTINE'S DAY. >> I KNOW. NONE OF US ARE IN RED OR PINK. >> SOME OF US ARE IN RED. IT'S OKAY. IT'S VALENTINE'S DAY. REALLY WHAT WE'RE SEEING IS THE IMPACT OF COCOA FUTURES SOARING.

OVER 100% IN THE LAST YEAR, AND THAT'S LARGELY BECAUSE OF SOMETHING WE KEEP DISCUSSING, THE IMPACT OF A CLIMATE PATTERNS KNOWN AS EL NINO, AND THAT'S CAUSING A LOWER SUPPLY OF COCOA. IT'S ALSO IMPACTING THE SUPPLY OF SUGAR. AND THEREFORE, WE ARE SEEING.

CHOCOLATE PRICES RISE. THEY'RE UP 11% OVER THE PAST YEAR, ACCORDING TO NIQ NIELSEN DATA, AND THAT'S NOT GOING AWAY. EXPERTS TELLING YAHOO! FINANCE THAT IT'S GOING TO BE A COUPLE OF YEARS OF ELEVATED CHOCOLATE PRICES. GIVEN THE LIFE CYCLE OF TREES.

THAT PRODUCE COCOA AND THE TIME IT TAKES TO PLANT NEW TREES AND THEN PRODUCE COCOA, ULTIMATELY, BUT IT'S NOT REALLY DETERRING CUSTOMERS HERE. WE KNOW THAT 57% OF CONSUMERS PLAN TO BUY CANDY THIS HOLIDAY. THAT'S THE MOST THAT THEY'RE GOING TO SPEND.

THE OTHER CATEGORIES, FOLLOWED BY TYPICAL THINGS ON VALENTINE'S DAY LIKE GREETING CARDS, FLOWERS, AN EVENING OUT, AND MAYBE SOME JEWELRY THERE AS WELL. >> HEY, I MEAN, YEAH. I VOTE JEWELRY. CANDY IS ALWAYS NICE.

>> DEFINITELY A LOWER PRICE POINT, DESPITE THESE JUMPS. >> YEAH, BUT THESE HIGHER PRICES, THEY ARE IMPACTING COMANIES LIKE HERSHEY, MONDELEZ, THEY'VE BEEN WEIGHING IN ON HOW HIGHER COCOA PRICES COULD IMPACT THEIR BUSINESS. WHAT HAVE THEY BEEN SAYING?.

>> BIG TOPIC IN THIS PAST EARNINGS QUARTER OR EARNINGS SEASON. PRICES FOR HERSHEY NORTH AMERICA, THEY JUMPED 7.2%. ULTIMATELY, THESE COMPANIES TAKING HIGHER PRICES BECAUSE OF THESE HIGHER COMMODITY COSTS. HERSHEY'S EXECS SAID COCOA IS.

EXPECTED TO LIMIT EARNINGS GROWTH THIS YEAR. THEY FOLLOWED THAT BY SAYING THE CONFECTION BUSINESS IS GOING TO BEAR THE BRUNT OF THE MARGIN IMPACT. MON MONDELEZ, A SIMILAR ANECDOTE. THEY SAID THEY'RE WELL COVERED.

FOR THE YEAR BUT THEY SAID THEY'RE GOING TO HAVE TO TAKE ANOTHER PRICE INCREASE IN EUROPE BECAUSE THEY FACE MORE INFLATION THAN ANY OTHER MARKET THERE. BUT CHOCOLATE PRICING PLAYING INTO MONDELEZ'S 2024 REVENUE GUIDANCE. THAT'S ALSO EXPECTED TO INCREASE.

IN THE HIGHER-END RANGE OF 3 TO 4%, BUT LARGELY, THIS IS GOING TO BE BAKED INTO THE NEXT YEAR. THESE PRICES ARE GOING TO BE ELEVATED IN THE COMING YEARS, SO THIS IS NOT GOING AWAY. PERHAPS NEXT VALENTINE'S DAY, WE'LL BE TALKING ABOUT IT AGAIN, GUYS.

>> NOT TOO SWEET FOR THESE COMPANIES. >> NOT TOO SWEET AT ALL. >> NICE. >> I PRIDE MYSELF ON MY PUNS. BROOKE DiPALMA, THANK YOU SO MUCH. >>> WELL, MAKING FINANCIAL DECISIONS WITH YOUR PARTNER IS.

NOT ALWAYS SIMPLE AND STRAIGHTFORWARD. MORE THAN ONE IN FOUR COUPLES IDENTIFY MONEY AS THEIR GREATEST RELATIONSHIP CHALLENGE, ACCORDING TO RECENT STUDY BY FIDELITY INVESTMENTS. HOWEVER, AS YOU WORK THROUGH FINANCIAL DIFFERENCES, THERE ARE.

SOME WARNING SIGNS WORTH A DOUBLE TAKE. HERE TO DISCUSS IS WELLS FARGO MANAGE DIRECTOR AND SENIOR DIRECTOR OF ADVICE. EMILY, THANK YOU SO MUCH FOR JOINING US. YOU TOLD US THAT SOME OF THE RED FLAGS TO LOOK OUT FOR WHEN YOU.

THINK ABOUT YOUR FINANCES. CAN YOU TICK THROUGH SOME OF THE TOP THAT COME TO MIND. >> ABSOLUTELY. THANKS FOR HAVING ME. HAPPY VALENTINE'S DAY TO EVERYONE. SOME OF THE BIG RED FLAGS WE SEE IN RELATIONSHIPS INCLUDE THINGS.

LIKE FINANCIAL SECRECY. THIS IS THE RED FLAG WHERE SOMEONE IS NOT BEING TRANSPARENT WITH THEIR FINANCES. IT COULD BE ON THEIR SPENDING. IT COULD BE THAT THEY'RE HIDING A DEBT ON THEIR BALANCE SHEET. IT COULD BE THAT THEY ARE NOT WILLING TO DISCUSS WHAT EVEN.

THEIR CAREER GOALS ARE WITH THEIR PARTNER. ANOTHER ONE WOULD BE TAKING ON DEBT AND JUST PRETENDING IT DOESN'T EXIST. AND NOT ALL DEBT IS BAD DEBT. IT COULD BE THAT YOU HAVE INVESTED IN YOURSELF, TAKEN ON STUDENT LOANS.

IT COULD BE THAT YOU'RE SAVING FOR A BIG PURCHASE AND TAKEN OUT A MORTGAGE, OR AN AUTOMOBILE. HOWEVER, IF YOU HAVE NO PLAN TO PAY IT OFF, OR YOU'RE JUST KIND OF PRETENDING IT'S NOT THERE, MAJOR RED FLAG. ALSO, BEHAVIORS LIKE GAMBLING. WE JUST CAME OFF SUPER BOWL.

WEEKEND. THIS CAN BE A REAL INDICATOR ABOUT KIND OF RISK TOLERANCE. THROWING DOWN SOME MONEY ON WHETHER OR NOT TAYLOR SWIFT IS THERE, NOT A BAD IDEA IF YOU'RE SPENDING YOUR COFFEE MONEY. IF YOU'RE SPENDING YOUR RENT MONEY, THAT'S A PROBLEM.

AND THEN FINALLY, PRIORITIZING WANTS OVER NEEDS. EVERYONE SHOULD PRIORITIZE SOME SPLURGE IN ORDER TO MAINTAIN FINANCIAL GOALS AND GOOD BEHAVIORS, BUT IF YOU'RE DOING THAT CONSISTENTLY, AND YOU CAN'T PAY OFF YOUR MONTHLY BILLS, THEN THAT'S GOING TO BE A PROBLEM.

>> EMILY, THE ONE THAT GOT MY ATTENTION AS A POTENTIAL RED FLAG WAS GAMBLING OR BETTING, BECAUSE, YOU KNOW, A LOT OF PEOPLE LIKE SPORTS BETTING, AND BY A LOT OF PEOPLE, I MEAN ME. WHEN EXACTLY IS THAT A RED FLAG? IS IT THE AMOUNT YOU'RE SPENDING?.

IS THAT IT? >> IT'S ACTUALLY NOT THE AMOUNT. YOU WANT TO THINK ABOUT WHAT YOU'RE SPENDING IN ALIGNMENT WITH YOUR GOALS, AND FOR SOMEONE, IT MIGHT HAVE ONE, TWO, THREE ZEROS. THAT MAY NOT BE SOMETHING THAT'S PROBLEMATIC IF THEY CAN SUPPORT.

IT WITHIN THEIR LIFESTYLE AND THEIR BUDGET. IT IS A PROBLEM IF IT AFFECTS THINGS LIKE YOU BEING ABLE TO MAKE ON-TIME PAYMENTS OF YOUR BILLS, IF IT, FOR SOME REASON, STARTS AFFECTING YOUR CREDIT SCORE. pIF FOR SOME REASON IT GE.

THE POINT WHERE YOU'RE NOT EVEN SHARING THOSE BEHAVIORS WITH YOUR LOVED ONE AND YOUR PARTNER, THAT'S WHERE THE RED FLAG COMES IN, BECAUSE THAT MEANS YOU'RE STARTING TO HIDE THINGS THAT CANNOT ONLY AFFECT YOUR FINANCIAL PICTURE BUT POTENTIALLY YOUR PARTNER'S AS.

WELL. >> EMILY, THE ONE THAT GOT ME WAS FINANCIAL SECRECY OR HIDING THINGS FROM YOUR PARTNER WHEN IT COMES TO YOUR FINANCES. WHAT WOULD BE YOUR ADVICE TO SOMEONE WHO MIGHT NOT FEEL COMFORTABLE DISCUSSING THEIR CREDIT SCORE, FOR EXAMPLE, WITH.

THEIR PARTNER? >> YEAH, I THINK IT DEPENDS ON WHERE YOU ARE IN YOUR RELATIONSHIP. EARLY ON, YOU CAN DO THINGS LIKE OBSERVE BEHAVIORS, AND KIND OF THINK TO YOURSELF, HOW DOES THIS PERSON INTERACT WITH THEIR FINANCES?.

YOU CAN ASK ABOUT THEIR MONEY STORY. YOU CAN ASK ABOUT — LIKE, ALL THE THINGS YOU WANT TO DO IN A RELATIONSHIP. TELL ME ABOUT YOURSELF. SHARE WHAT YOUR MONEY STORY IS AND YOUR HISTORY SO IT INVITES THEM TO DO THE SAME.

IF YOU'RE A LITTLE BIT FURTHER WITHIN THE RELATIONSHIP, DEFINITELY BEFORE YOU TAKE ON ANY JOINT PURCHASES OR COMMINGLING OF ASSETS, YOU WANT TO HAVE A REALLY TRANSPARENT CONVERSATION ABOUT KIND OF THE BIG THINGS. SAVING.

SPENDING. DEBT. HOW ARE WE GOING TO CHECK IN WITH ONE ANOTHER? A WONDERFUL WAY TO DO IT IS IS VALENTINE'S DAY. DO IT OVER A DATE NIGHT IN A PLACE THAT'S NOT GOING TO BE SOMETHING THAT'S EMOTIONALLY.

CARGED. YOU BOTH KNOW YOU'RE COMING INTO THAT CONVERSATION. YOU KNOW WHAT THE TOPIC IS. THEREFORE, YOU'RE GOING TO BE ABLE TO BE IN AN ENVIRONMENT WHERE YOU CAN HAVE A MORE TRANSPARENT, LESS EMOTIONAL CONVERSATION.

>> ALL RIGHT. THOSE ARE GOOD TIPS. FINANCIAL AND OTHERWISE. EMILY, THANK YOU SO MUCH FOR JOINING THE SHOW. APPRECIATE IT. >> THANK YOU. >>> TIME NOW FOR TO WATCH THURSDAY, FEBRUARY 15th,.

STARTING OFF ON THE EARNINGS FRONT. DEERE, DOORDASH, DRAFTKINGS, COINBASE, AND STELLANTIS ALL REPORTING EARNINGS TOMORROW. DOORDASH REPORTING FOURTH QUARTER EARNINGS AFTER THE CLOSE. THAT STOCK IS UP ABOUT 20% TO.

START THE YEAR, BUT DRIVERS FOR THE COMPANY ARE STRIKING TODAY, DEMANDING BETTER PAY AND SAFER WORKING CONDITIONS. >>> TURNING NOW TO THE ECONOMY, RETAIL SALES DATA FROM THE CENSUS BUREAU COMING OUT TOMORROW AHEAD OF THE OPEN. ECONOMISTS FORECASTING SALES IN.

THE U.S. TO FALL IN JANUARY, AND WE'LL ALSO GET THE WEEKLY READING ON MORTGAGE RATES, WHICH HAVE BEEN HOVERING IN THE MID-6% RANGE. HOUSING WILL BE A FOCUS AS A SPRING HOME-BUYING SEASON GETS UNDER WAY. >>> FINALLY, WE'RE EXPECTING.

ANOTHER ROUND OF COMMENTARY FROM FED OFFICIALS. ATLANTA FED PRESIDENT BOSTIC AND FED GOVERNOR CHRISTOPHER WALLER BOTH SPEAKING TOMORROW. IT'S COMING AFTER THE HOT INFLATION READING EARLIER THIS WEEK THAT SHOCKED MARKETS. CHICAGO FED PRESIDENT AUSTAN.

GOOLSBEE SAYING, “LET'S NOT GET AMPED UP” ABOUT THE REPORT YESTERDAY. >> THAT'S WHAT I'M GOING TO BE CLOSELY FOLLOWING TOMORROW. INTERESTING TO HEAR THOSE COMMENTS FROM GOOLSBEE. HE DID SAY, I DON'T SUPPORT WAITING UNTIL INFLATION ON A.

12-MONTH BASIS HAS ACHIEVED 2% TO BEGIN CUTTING. SO, THE MESSAGING THERE IS THAT CUTS ARE GOING TO COME. THE BIG QUESTION, THOUGH, FOR INVESTORS, IS, WHEN? AND HOW MANY CUTS ARE WE GOING TO SEE THROUGHOUT THE YEAR? SO, THAT'S GOING TO BE SOMETHING.

THAT I THINK, RAPHAEL BOSTIC, CHRISTOPHER WALLER, THEY CAN ELABORATE ON THAT. I THINK MARKETS WILL BE WATCHING THAT VERY CLOSELY. >> IT WAS INTERESTING TO HEAR ABOUT GOOLSBEE SAYING, TAKE A BREATH. >> DON'T GET AMPED UP.

>> I'M GOING TO BE LOOKING AT DOORDASH. THEY ANNOUNCE Q4 RESULTS TOMORROW AFTER MARKET CLOSE. THE STOCK, UP ABOUT 90% IN THE PAST 12 MONTHS. IT'S ABOUT 20% ALREADY THIS YEAR. ANALYSTS ARE SPLIT ON THIS ONE.

20 BUYS, 18 HOLDS, ONE SELL. AVERAGE PRICE TARGET RIGHT NOW IS ABOUT $115. UBER DID RECENTLY REPORT RESULTS. THEY TALKED ABOUT THEIR DELIVERY BUSINESS AND HOW THEY WERE SORT OF TAKING SHARE IN THEIR TOP MARKETS.

I DID SEE SOME ANALYSTS SAYING THEY DON'T THINK THEY TOOK SHARE FROM DOORDASH, SPECIFICALLY, BUT I GUESS WE'LL FIND OUT WHEN THEY REPORT TOMORROW. >> I THINK GUIDANCE IS GOING TO BE A BIG FOCUS HERE. WE SAW A LOT OF IMPROVEMENTS IN 2023.

MOFFETT NATHANSON ACTUALLY SAID SENTIMENT HAS FLIPPED FROM A PERCEPTION OF A POST-COVID LOSER TO AN INTERNET DARLING. >> LOSER TO DARLING. >> LAST A PRETTY BIG VOTE OF CONFIDENCE THERE. SO, I THINK GUIDANCE IS GOING TO BE A BIG FOCUS THERE, AND WE'LL.

SEE IF REVENUE CAN SURPRISE TO THE UPSIDE AS WELL. >> ORDER A LOT OF DOORDASH? >> I DO, UNFORTUNATELY. >> IT'S AGGRESSIVE HOW MUCH DOORDASH IN THE LIPTON HOUSEHOLD. THAT WILL DO IT FOR TODAY'S “YAHOO FINANCE LIVE.”.

COME BACK TOMORROW AT 3:00 P.M. EASTERN FOR ALL YOUR COVERAGE LEADING UP TO AND AFTER THE CLOSING BELL.

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