>> and chinese names alibaba, up 7% get earnings next weekend. some are saying looking at the potentially ease in covid policies, could be good for all of tech. has been in overhang >> and retail sales, one big mac row print. enjoy the weekend. let's get to the judge. >> carl, thanks so much. welcome to the halftime report scott wapner a big bounce for stocks. is it getting closer maybe it started we have our hands on an influential research note that says stocks can rally from here. we'll let you know the call and will debate with the investment committee. shannon, rob, pete najarian, and with me on the set, brynn talkington and steve weiss

better than 400 points, same for the dow. able to get 32 back there. almost 1.5%. s&p 500, back above 4,000. 2.90 the yield on the ten year note brynn, we have been oversold way oversold s&p got to 20% down from 52-week high we were right there yesterday. is this the start of something people have been looking for, a bounce and a meaningful one? >> we're definitely having one today. end of the day will tell if it sticks i think we saw early this week the nasdaq got to only 6% of stocks above the 200 day moving average. that's the most oversold since 2020 nasdaq has been very oversold. today is about small cap growth names. we have seen names 10, 15, 20% when stocks go down 60 to 70%, those moves on a daily basis

seem big but still have so far to run but i do think that sentiment in the short term, in the short term, has shifted. let's see if we can get it to close at these levels. >> that is key i mentioned this note. gfr macro. not easy to get a hand on their stuff. the target for bounce is 4342, above 4300 talk about the cathie wood short is likely over bryn references growth names that absolutely ripped they say that's some evidence you'll get a sizable bounce from here doesn't mean that the bottom is necessarily in, but we're poised for a big bounce minimum 8% there >> and it could happen you see bear market bounces 10% or more some days and some weeks. that could be it look, bearish as i am, i have been expecting a bounce, i am not participating in it.

i don't think they're tradeable. i defy anybody that seays they'r tradeable how. we'll continue to see this i'm not going to change because the market is short term oversold i think the conditions that caused me to be bearish are still in play. that's high inflation as we saw day before yesterday. consensus is fed won't be able to get inflation down below 4.5% for a year or two years. looking at persistently high inflation, twice what the target is going forward seeing earnings revisions, strong dollar will be more with the s&p. i am going to be the last one proudly to call the turn, i am so bearish, have been so bearish so long. >> does that mean you're not buying anything in anticipation of a bounce you say can happen >> no. in fairness, i haven't felt

compelled given other stuff i look at in private markets to spend time doing it. i'm close. i think you're close to buying selectively some stocks but not going wholesale in you have private equity valuations in the market that are sort of generational doesn't mean they won't get cheaper, but laid into some stocks you have to be selective >> shannon, moves we have seen, arkk is up 10% as we have this conversation from wednesday close, innovation up 17% robin hood up 31 draft kings, 23. teledock, 16 roblox 26. is that where we think the sizable bounce starts?

then it needs follow flew. how do you assess from here? >> the latter part, the most important piece, this won't change trajectory how most investors perform the next couple weeks we have seen significant dip buying, particularly today in some companies in terms of what's going to work the next couple of years, whether or not you believe that we're going to have 4% inflation, we're going to have higher inflation, we're going to have slower growth, and i think when you are looking at your portfolio, if the follow through doesn't happen in sectors like industrials, technology, health care, in the back half of the year, these short term rallies that we're seeing are not going to be sustainable. i look at companies with strong cash flow, balance sheets. most importantly, making money from profitability

that's when you see a shift in the market those are companies that are going to drive index returns >> pete, made a big deal about puts you had on. we did your calls early in the show said pete has these puts they were specifically or for the most part related to arch. where are you on those given the move we had? >> we talked about i trimmed the other day and yesterday. hit 52 week lows yesterday before the turn at the end of yesterday and into today one of mine will go off, what's left of it, will go off worthless. it was a great trade the arkf the arkk, i have time for that to perform i am holding on to that as well. that put was dead on they absolutely nailed it in

terms of short term looking for these to pull back in a big way. that's what happened like everything else, you have to be disciplined. we talked about velocity of moves all the time, scott. give you a great example of that if you don't mind, hit the vixx. everybody said we need volatility index to hit 40 before we turn that may be true, i am not saying we aren't in that position today you have the volatility index under 30, trading at 29. we have four times this week, monday, tuesday, wednesday, thursday, the vxn, the index of the nasdaq closed above 40 first time in a year actually it was november or october of 2020, last time at those levels closing four over 40 this week that gives you a sense that maybe there's a pull back, maybe that gives opportunity for stocks to make a move to the up side on the nasdaq side. but that was a big jump and big

bunch of closes, scott. >> you make a great point, pete. those that say we haven't seen the worst, haven't had historical capitulation we are used to to more confidently declare the bottom is in however, maybe we were looking at the wrong vix maybe it is the vxn that suggests, you did in fact get it why? the nasdaq was the epicenter of where the selloff took place to begin with, was most acute the nasdaq suffered the most damage that's the vxn which you have to your credit highlighted repeatedly maybe that's the place to keep our eyes on the most if you get a sustainable move higher, it has to come from the nasdaq stocks and not necessarily the cathie wood names but megacaps apple and the ones that got people feeling bad about the market if they rolled and rolled hard, there's no way the market would be able to do anything

>> i think vxn has been interesting. i am not saying we hit the bottom and are ready for the up side four closes over 40 is a statement. now that we have broken down today, see if it lasts more than a single day and obviously yesterday. look at the rallies end of the day. we went 500 points in the last hour in the dow. 300 higher on the nasdaq to close where we did that shows you we are in a market that's extremely volatile but going into the weekend, price that in as well. that's why you see the vix under 30 also why you see the vxm pull back we'll have a better read next week early on. >> nasdaq up 456 dow up more than 500 points. rob, how do you see it, what are you telling your clients >> you know, we have been talking about this on the show, on both your shows, scott, that we have been rotating to

quality. we don't think this bounce will be sustained, but one of these will be sustained. if you look at what's happened, i looked at portfolios, growth, dividend portfolios, you have stocks rated very high on the quality scale, h and r block, auto zone, regeneron, o'reilly, down less than the market, you have in the dividend names eog, lockheed martin, doing well because they're high quality businesses we own some of the others, microsofts, jpmorgan which have taken some gas, but you have to stay invested through this i think investors have to upgrade to quality i think what you're seeing is markets pricing in at greater recession risk over the last two weeks. we still think it is all dependent on what happens with

the war and what happens with lockdown in china. the lockdown news this morning was good and markets are so oversold, they're looking for something positive to hang onto. we don't think this is the bottom we think you have to stay more conservative we think that looks like owning quality, having more cash. on the issue if it is sustainable, they say watch certain stocks to see if they have staying power home depot, google, starbucks, caterpillar, mentioned apple, those kind of stocks are the ones they're looking for does that make sense to you? >> starbucks will be supply chain, commodities, employees. home depot, the consumer that's a good roundup of names i think that people have to

understand this is not, i don't think this is going to be a march 2020 or fourth quarter 2018 when you bounce off and quickly move back higher both times what happened in 2018, the fed pivoted, in 2020, the fed came in. so this is just i think somewhat of a paradigm shift, may have found a bottom today or next week or next month, but it will be a slower grind going forward. i think investors need to be patient. i don't think investors need to pivot out of growth or ignoring them and just buying old time free cash flow companies and saying growth is dead forever. >> i'm going to be dismissive of that note and comment as you would expect. >> i would expect nothing less >> the fact that you're here doing it in front of me is more perfect. pete, i have something good for you coming up. i saw a tweet from somebody, i cannot wait to bring something up with you.

>> bring it on >> glad to be here, scott. not happy to see -- here's what i would say. caterpillar has been irrelevant in terms of the overall market for a period of time as is starbucks. the market has gone up dramatically to this point, those stocks have been nothing caterpillar did have a run last year with the commodities, but i'm a little i guess exhausted from so many people coming out, trying to find tea leaves and read those that don't exist. this falls into that category. they're losing sight of declining estimates which are china still back on its heels, with china potential, taiwan conflict, with russia, with ukraine, with energy being cut back and no ability to cut back on energy pricing.

tomorrow somebody else finds something else that's meaningless, it will make my day. >> it is not meaningless if you get a hold up in the stocks that matter the most. >> they don't matter the most, my point >> apple matters. >> apple matters, but we went through -- >> apple matters a little? >> it matters a little >> it matters a lot. why doesn't it matter a lot. >> we went through extended periods in the market where faang didn't participate pete can laugh all he wants, finds something funny his brother is saying. >> i will say on those companies, different factors inside the global economy. for that reason understanding the consumer with home depot, understanding commodity and wage inflation with starbucks i think it is something of note. i agree with steve, i wouldn't say to dismiss it. definitely gives insights into the economy, up and down the supply chain and labor markets. >> i don't want to hold this tweet any more, it is too good

snoop dogg tweeted we may have to buy twitter now he said gonna replace the board of directors with jimmy from my corner fish friday, tommy chong, and the guy with the ponytail on cnbc are you interested, pete >> i am in i am in. i am absolutely in i didn't see it, but i am in i'm all in i tell you, working with elon musk would be phenomenal absolutely, scott. >> i knew you wouldn't be working with elon, you guys maybe have to have a conversation off line. i didn't want to hold it any more. >> new love for snoop, how he classified pete. he found the perfect cohort. >> the guy with the ponytail on cnbc we'll get back to that story later perhaps. shannon, the idea that maybe this can have some kind of staying power, nobody, not gfr, the note i quoted, i don't hear anybody coming on and suggesting we're back to a bull market or

anything like that but we did get to a point we were oversold. maybe that gets no more than a ham sandwich and bag of chips, but could be worth something to get you out of the doll drums of where we were. >> you look at historical precedent, scott,. if you look at declines in excess of 12 or 13%, outside of recessionary period, 12 months later shows that those losses have been recovered. we can sit here, talk about whether recession comes i in '22, '23, '24, there will be, there's always a recession what you're talking about, people are trying to project the second half of the year, see if we get somewhere close to a small single digits loss or closer to even for the year. i don't think anyone is sitting here talking about getting to 12% gains on the s&p 500 this

year more importantly, does this period provide opportunities steph talked about this earlier, does it provide opportunities to revamp, reposition portfolio for the next three or four years i would say that's the period we're in in the next two to three months >> not trying to time it by the day, but there are growth names to bryn's point that would be great additions. technology and innovation is not dead if we go into lower growth environment, you need to find earnings growth outside secular tail winds. >> can we move higher? felt so bad lately as we all know our next guest has been negative chief market technician at btig. why is he on he dropped a note a little while ago that he sent to us that says a bounce is overdue, but how high can it go that's the question you asked.

what's the answer? >> yes, scott. we think we're at a time, take a step back. since february, looking for sub 40 s&p, got to 3860 a couple days ago, it was never about the absolute level, it was more about what is the plies rice ac telling you at that level. today early, little while ago, had more than 90% volume of advancing stocks if you recall, we were looking for down side day as signs of selling, exhaustion. got a few of those in the last week or so, now the opposite huge surge in demand first 90% advancing volume day since june of 2020 rare occurrence. so we think despite the fact we didn't get a final washout, we got enough evidence that there was some exhaustion, and today's

action confirms that reasonable to move back to 4200. >> low to high, in line with what we saw off january lows, get you back to 4200 level, which was a huge support violation on the way down, probably will act as resistance on the way up. >> the other day you were fairly negative on the market, you thought it would go lower, and maybe now you point to yesterday as perhaps that low that gets you to technically at least change your opinion where we can go in the short term >> yeah. i mean, look, there's a number of indicators that overtime are consistent with market bottoms some of them checked the box, some didn't. you talked about the vix didn't get vix curve inversion we see at market bottoms

again, we're in the ballpark it is never an exact science ultimately, do we paint the low yesterday as low for the year or this move, probably not. given the carnage under the surface, at some point we've seen 9% rally off the lows in january, 12% off lows in march none led to a bottom i don't know how you say this move is the bottom we're at a point in time well overdue for 8, 9, 10% relief rally. >> you have to have things fall into place nice to say at 1140 when you put out the note, as of that moment you had better than 90% up volume you need to finish today at the same level to confirm this, am i right? >> yeah. i mean, but look, again, there are two parts, there's today's

action which is not finished, there's also everything we just said that happened in the last few days and last couple of weeks. you know, sure, roll over and close down on the day, would that still mean we go back to 4200 imminently, probably not. but i think there's other things we look for and they suggest we're in the ballpark of the short term low, whether it was yesterday or little lower, we're getting close. but again, you talked about it, nobody is falling for resumption of bull market new highs, i think that's fair to say, given carnage under the surface. at a minimum, price levels aside, time is a component that needs to work, too we are four months off the highs of the s&p 500 still relatively new as far as bear markets go from time perspective. >> i hear you. jonathan krinsky

do you have a comment? >> people need to take longer perspective. we're going to get rallies, dips people shouldn't panic, take these opportunities to add great companies when stocks are down >> some of the crew is, as a matter of fact we're taking a break we have a number of moves to go through. the committee buys and sells we do it next. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it!

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committee is making. shannon, beginning with you. you sold uri united rentals, bought rockwell innovation >> so united rentals a long time holding for us, has done well, had strong performance in the name if you think about rental equipment market as supply chain starts to ease, as there starts to be better, stronger inventory to be able to purchase equipment, we think that we're probably reaching, not necessarily today but in the next couple quarters near term peak in rental activity. flip side of that, company like rockwell automation. down significantly more than the market in a labor constrained environment, importance of industrial automation, being able to effect greater

productivity and greater efficiency, they have a strong backlog, demand remains intact even in a slower economic environment, particularly with a lot of production coming back on shore in the united states that they're going to benefit from that from valuation perspective, more attractive than uri. still overweight industrial, still love the space. >> devon energy, bryn. bought it on the day down 11%. favorite name of cramer, favorite name of lee cooperman, favorite name of yours. >> i took that opportunity i own xop and other energy names. i'm bullish on the space couple weeks ago, energy names with the rest of the market sold off. i would urge viewers to go to devon's website, read the investor deck from this quarter's earnings, it is the play book of what type of company, doing share buy back, improving the balance sheet, stock repurchases. 16% free cash flow

raised dividend to 8%. s&p is 1.5%. so many check the boxes. i took that opportunity to add to my portfolio and look for it to be a long term holding. >> pete, big exposure to energy. >> i do. i was listening to the sintervie with lee cooperman, i am at 30% exposure to energy, if you include clean energy with oil and gas, definitely about 30%. i continue to add to it. one of my unusual option activities later today is one of those names in energy space as well, a popular name lot of people talking about it i continue to love the energy space. we did get underneath 100, we were 99. then right back at 108, 109. i think energy is making pauses. nothing goes straight up it will have pauses. i think we're going higher. >> crude, 110. 4% gain now.

all right. another big bounce for biotech after hitting new lows is this trade about to break out? we explore that next on the half growing up, my mom, siblings and i faced more than our fair share of adversity. but i believed in a future beyond what others saw. when it came time for college, the kpmg future leaders program was there to help. it was more than a scholarship. it was four years of support, mentorship and training. now, with a degree in animal science, i'm my family's first college graduate and i'm just getting started. the kpmg future leaders program. empowering young women to reach their potential since 2016.

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here's the cnbc update at this hour. israeli police seen having a physical altercation at a funeral of the american journalist who witnesses say was shot and killed by israeli forces earlier this week she was covering a military raid in the west bank police were forced to act after they refused orders and throwing stones. ukraine hearing the first war crimes case following russia's invasion of that country. 21-year-old russian soldier is accused of killing an unarmed 62-year-old ukrainian civilian in late february the defendant faces life in prison if convicted. the latest from ukraine on the news, 7:00 p.m. eastern here

on cnbc. the texas supreme court ruling, the state can investigate parents of transgender children for child abuse. the decision a few months after the texas governor greg abbott issued the first order of child welfare officers to investigate gender affirming care as child abuse. that's the latest. scott, back to you >> appreciate it biotech. talk about it. bouncing back after hitting new lows up 3% yesterday, 4% today josh brown calling it one of the big fat pitches in the market. you own abve >> i do. i think it is a fat pitch. you have crypto and biotech are trading closely together people want cash low, not cash burn liz ann saunders had a tweet, members are trading less than cash last time you saw this was going back to 2002

if you can sift through the ashes or buy ibb, i think there are huge opportunities, but it will take time. >> pete, why choose xpi over ibb as she names the ibb, why do you choose the other one. >> yeah. quite honestly, scott, a lot of the time going through everything hitting for us. if one hits instead of the other in terms of unusual option activity, that turns us onto the next one i don't like to be in etfs, bring it up and here i am in all kinds of them with calls and puts it is a different market than it has been for awhile, the volatility we have seen. i would say this biotech companies are so different right now than they were three years ago, five years ago, ten years ago, many of them have great balance sheets. they aren't just somebody that has a hope and prayer for something in the future. that's something that's important. a lot of biotech companies trade like pharma when you look at the

balance sheet, cash flow, the different metrics. that's what makes this more interesting. i think there is up side steve has been in and out of moderna. that's one of the names that stands out look at the balance sheet there and amgen, various names in different categories, still have great balance sheets going forward. i think they're great companies to be part of. >> abvi, you own that, shannon >> pete made a great comment, feeling more like an innovative pharma company than the binary outcomes we have come to expect from biotech over the course of the last ten years or so i would say life sciences are getting emphasis from investors on the private and public side the next phase of innovation we

look at in the next five to seven years. >> you sold about a month ago? >> it wasn't behaving well risk reduction, we raised cash, ended up being a good thing to do we own regeneron, one of our largest holdings, we like the fundamentals, you need to be more surgical now versus macro until the environment improves, though i will say -- >> we haven't talked moderna in a long time. what's the status? >> it is reduced, i still own it one of the cheapest stocks out there, pete referenced balance sheet end of the year about 30 billion, allows them to buy other r and d.

but they have science day, and pipeline continues to grow i still like it, i think it will be the most valuable biotech company out there. >> but you reduced position because of your view of the overall market >> yes i reduced the position, every position i have because of the overall market. >> even ones you love more than most like this >> like this, like volkswagon, like all of them >> okay. financials hovering in bear market territory, a long list of names hitting new lows all committee members have ownership. are banks that buy at these levels or avoid them we debate it next. .. but i didn't wait. i could've delayed telling my doctor i was short of breath just reading a book... but i didn't wait. they told their doctors. and found out they had... atrial fibrillation. a condition which makes it about five times more likely to have a stroke. if you have one or more of these symptoms irregular heartbeat, heart racing, chest pain,

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stanley, i'm sorry to go through the list everybody has ownership, i don't mean to rub it in, losses in some cases 30 plus% from the highs. what do you think now? >> well, to me it is no surprise that financials are off as much as they are, markets are increasingly pricing in risk of recession. that's not our base case as you know yet so we're currently neutral i am tempted, seduced by goldman, sachs and wells fargo, but we own jpmorgan and black stone. i get a lot of twitter hate on jpmorgan calls i made on the show, unlike weiss who thrives on it, i have thin skin. we are not going in, not because of the twitter to wells and goldman because we don't think it is time yet we're pausing and owning what we own. >> speaking of, pete, goldman,

sachs. that was the one stock that you either own or bought this year >> yeah. goldman, sachs it was around the 312, kind of close to where it is now, a little below that based on the jump it is having today, scott one thing i would add, if you look at goldman, sachs versus jpmorgan, i continue to pound the table on price to book and the environment we're in, a trading environment is exactly why goldman, sachs did as well on earnings. you look at one times book and jpmorgan trading closer to one and a half or more, that's the reason if you make a change, maybe that would be the change i would make if i were in your position >> rob >> listen, i'm tempted by that when you look at jpmorgan, i think one issue that's driven them down a bit year to date has been their cost related to their

employees. i think everybody suffers from that but they are in my mind the most dominant player in the space and to the extent you do have improving loan growth environment, i think they're a bigger beneficiary than goldman. i concur goldman will do well typically in a trading environment. that's why that would probably be the next purchase if we decided to go overweight in the financial space, which we haven't done i think black stone is more exciting frankly because of the matriculation of retail investors into private space as public markets continue to have difficulty black stone has been incredibly successful raising money in that space with jonathan gray, jim dowling, the great folks at that company that know how to play the market perhaps better than anybody. >> weiss, goldman and wells? b of a >> yeah.

look, i knew we were in for a tough ride with banks, said it before, because the ipo calendar doesn't exist, private do, ipo is where they make a lot of their money. i would tell you that every interaction i have with the banks i come back to goldman having the deepest bench, being the best bank out there, period, best risk managers, the least you see now since solomon took over in terms of headlines versus jpmorgan. >> but you're negative on the market, are you selling these positions? >> i shaved everything i still have my positions in b of a and goldman >> okay. shannon, your exposures, jpmorgan, bank of new york, blackrock, ice schwab >> i think when we talk about financials, scott, we always go back to banks. the thing is, it is a broad sector i look at the comments, pete made a great comment about goldman. you think about volatility continuing, which all of us

talked to, look at the exchanges. you benefit from that. you don't have to decide the direction of the market. akin to blackrock where you need to see capital appreciation. it is important to have a diversified basket of financials we need to see leadership, scott, from the sector to get sustainable boost that you talked about earlier in the show. >> as long as you've got recession fears hanging over the market, it will be awfully hard for stocks to do anything. not to mention that you've had a bit of a change, albeit not necessarily today but in the direction of interest rates. what was a steady climb higher seemed to change the direction this week somewhat on the same recession fears i mentioned. take a quick break come back. bitcoin on pace for worst week of the year. the investment committee has two very different trades on crypto. and during may, celebrating asian and pacific island heritage, celebrating teammates and contributors

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wild week for crypto bitcoin trying to rebound above 30,000, getting awfully close with a 5% gain today it was down below 26,000 earlier in the week. bryn, i had anthony scaramucci on overtime, calls it technically oversold hasn't sold one position he has big exposure. what about you, you own coinbase, gray scale bitcoin bring in weiss in a second but what do you think? >> coinbase and bitcoin today are up huge after selling off strong i do think the debacle, the

disaster of the luna,al go rhythmic coin gives me pause in adding to the positions. back to 2018, remember the reserve fund, there was one single money market that broke the book we had so much regulatory action from one money market. we haven't had any regulatory framework of crypto. i want to see how that flushes out the next one or two months if you're going to invest in this area, i hate when people say they're long term investors, i feel like i'm saying that now, but that's what you have to be you have to take the long game i am bullish on asset class. look to add to coinbase, but not now. i want some of it to flush out before i add. >> you think coinbase has more down side? >> i think the whole market, they're all correlated, coinbase is very tied i want to see what happens in the next month or so with regulatory framework, if there's

any other stable coin issues, you want it to play out. as long term investor, there's no hurry if it goes to $100, that's okay. i want to let things settle down. >> i mentioned weiss, i said to you, you own gray scale bitcoin. kw so, it seems to me this is an industry that's been ecreated and now it's trying to find a purpose. it's people trying to find a second career they want to do. i'm supposed to buy something that somebody whose name, an unknown individual could have created this -- whatever could have created this out of his cell in leavenworth and it's got no utility whatsoever and nothing backing it up and it's a

risk asset if i'm bearish on stocks which have cash flowb, assets, why wouldn't i be bearish on the riskiest asset out there that, once again has no use whatsoever to get another revenue line pushing the infrastructure dwrb would play in coin because that's infrastructure and makes money off the fools that are buying bitcoin because they think it's if wing to be a currency when it will never be one. >> crypto and euro and block chain -- >> i meant the other fools >> it could have an impact >> i'm targeting that because he's got such a thin skin. >> sob, you have to understand, block chain. they're technologies with the ability to have transfer payments inside of them. to say that bitcoin is going to take over the u.s. there, i think is not true.

china is going to announce their central coin next year they're going to monetize the block chain. etherium is a technology if you say we want to be in this technology and this has the ability to have money movement, to me, is another bait at the early days of the internet. and that's what i believe in the technology i thought it was a currency, i was like it doesn't make sense but when it clicks for the tech technology, i want to be there i i want to size it right. it is speculative. but i don't want to have my whole portfolio -- as much as i love energy, in one asset class. >> you can have black chain technology without currency. i do believe in block chain technology i don't believe in the currency. >> we also have final trades to do everybody be cool, alright? with ringcentral we can pull bonnie up on phone, message, or video, all in the same app. oh... hey bonnie, i didn't see you there.

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i'm dan o'dowd and i approved this message. tesla's full self- driving technology. the washington post reported on "owners of teslas fighting for control..."

"i'm trying..." watch this tesla "slam into a bike lane bollard..." "oh [bleeped f***]" this one "fails to stop for a pedestrian in a crosswalk." "experts see deep flaws." "that was the worst thing i've ever seen in my life." to stop tesla's full self-driving software... vote dan o'dowd for u.s. senate. we're showing you share as of boeing right there. you can see the drop still positive but not as positive what's going on? >> what we have is a report from reuters siting sources with the faab, telling reuters that the application boeing submitted remember, we talked to ceo

calhoun about this when they did their q1 financials. the application for recertification of the 787 dreamliner has omission and they're if wing to send it back to being the reason the stock is not falling more and the reason it's still slightly positive. obviously the market has a lot to do with that. but this has been a constant back and forth between faa and being. you'd rather esee an outright approval or positive news here but this is not a major setback. this is not a case where they've come back and said go back to the drawing board. but again, at this point, it's clear the faa, at least sources telling reuters, they're saying to being, you still have more work to do befory with can cert nigh 787 inspection plan to begin deliveries today >> and maybe your context and color is helping investors have better perspective

the stock is coming off the initial point of the drop. it's positive. not as positive. also why the dow maybe lost a tiny bit of steam also being dragged a little bit by that news very helpful with the context there let's do unusual activity. what tayou see >> so, earlier in the show, i was talking about energy and warren buffett, everybody. continues to talk about this stock. it was trading just underneath 63, scott. we had a big buyer adding to other previous buys in previous sessions 5,000 of the june, 67.5 calls were being purchased for $25.35. they were calling the 75 calls but i like to focus on what are they buying? june 67.5. 5,000 of those and this is a software company that's not talked about a lot, probably for the reezten was a $37 company that dropped down to $8.50 today and we're seeing a

buyer of 10,000 of the june 10 calls. that was an interesting trade, trying to see if there's any kind of a bounce off this hit the stock has had over the last 52 weeks oerso and lucid trading just underneath 18. we had a buyer of 23,000 of the may 20 calls those are going for 27 cents got a little bit of time for these to play out as well. 23,000's a pretty decent number for this company because when you look at the ev space and the hits a lot of them have taken, we'll see if that continues. >> what do you have for us >> data and analytics for the life sciences companies we discussed earlier. >> how about you >> autozone. >> why >> strong topline momentum, scores incredibly well on our earnings metrics

growing top line 50% year on year, earnings 18% strong pricing power and ability to pass on inflationary pressures to clients >> i didn't know if you needed to run, you have a lunch appointment or something like that thanks for the information our viewers really appreciate it pete >> i'm going to stick with the occidentalal trade that we saw i think the energy space is continuing to go to the upside this is go tag continue to fly >> jijb. they've had their worse sell off since march 2020 prior to that, it was decades before it's a 4% yield and i think the end is going to be topping out here >> let's go with hpo let's go with xpo. the company that's not reflecting valuation even the great quarter's not reflecting the valuation so, xpo. >> but again, you've turned yorb

dags. >> i've trimmed my position in every sing -- >> every single individual name. >> every single individual name. >> i'll see you in overtime in a little bit we'll talk about the latest in twitter. dannives, he called this a generational buying opportunity in tech. so, i'll see it for a few hours. "the exchange" begins right now. thank you very much, scott i'm kelly evans. here's what's ahead. stocks are jumping as we close out a brutal week with everything from big cap tech with to the airlines las vegas fans leading the way today. even with oil and gasoline prices surging again one of our guests says her client inflows are up and out flows are virtually nonexistent. a look at what names she is buying right now and another twist in the twitter saga elon musk says he's still committed to the acquisition the stock is the worst name in the s&p right now.