What do you have coming up, and hows the weather . So far, so good on the weather. Actually last time we were doing it outside on the island. Today were doing it inside on the off chance the weather does worse than it has been. Were at the annual Sports Complex conference going on. We have a huge lineup of guests throughout the broadcast. Bruins ceo george pine is going to be with us and arcs cathie wood. We can have a debate about bitcoin with her. So much going on in her world. Then well have a conversation with ceo ted leonsis who weve been talking about because hes been involved in that deal in washington, back and forth. And at 8 15, an exclusive interview, First Time Ever on cbc, steve cohen, now, of course, the mets owner, but maybe better known to those on wall street as the chairman and ceo of point 72. So many folks in the sports world. We have many of the commissioners from all over the league. I think we have michael rubin, arod, i saw last night. Corbin is trying to buy the timberwolves. You really cant walk around this place without seeing somebody whos in the middle of one of the big major sports deals right now. Were going to be talking about all of that this morning. He was probably hoping that the mets would have won a game at this point. Yep. Were going to talk about that. No way. No way. They werent going to play yesterday. They say money cant buy love and money cant always buy winning. Theres no way they were playing a home game yesterday. Theres just no way, and it didnt happen. Well try again today. They were supposed to play the tigers yesterday, but that did not happen. 04, but its early. It doesnt matter. Yankees are like 51 or something. So its early. That are we allowed to talk about where you actually are, andrew, or is it yeah. But im not sure you were right about that. Its not sanctuary . I dont know. Yeah, thats where we are. Sanctuary . Thats where we are. I em not at a golfer, so im not enjoying this the way you might enjoy it. The hotel the resort, i think, is sanctuary. Its a great place, beautiful place, golfing its not up to the level of a sea island. I know they try, but theyre also going to be not quite no, im kidding. That was just a little plug. A whole bunch of people are going out to play golf this afternoon, and ill be back on a flight to come back to new york. By the way, you know whos also here, i should tell you, the biggest mets fan and actually the biggest jets fan. Who do you know whos a squawk friend of the show whos here. You mean longsuffering. Longsuffering fan. Do you know . Yeah, i know hes down there. Is he coming on the show . Mohammed al lurie. Thats what i say about mohammed. He had a choice. Yankees or mets. Picks the mets. Giants or jets. Picks the jets. Those are the working men teamings of new york. Thats where its the heart is. If the markets there and youre trying to pick winners. I think he comes by it honestly being from queens. Maybe his track record is better in doing it the other way. Im being told to move on, can you believe that . Lets get a check of the markets. U. S. Futures are lower after two straight tripledigit down days for the dow. 32 points now. Nasdaq down about 54. The dow and s p as we just noted fell for a second straight day, way down by doubts that the fed has inflation under control. Who knows now. People are actually saying it out loud. There ma i be no rate cuts this year. Nasdaq fell 0. 1 , s p 0. 7 . Medicare did not help. I had more concerns about this on friday than i did based on mondays numbers. Friday showed the inflation was running hotter than expected. Ism. Yeah, its ism. Thats the bestcase scenario. If the feds not going to cut rates, its because theres a stronger economy. Thats the part youre happy to say. Stronger economy. Strong inflation, not so much. Treasuriesyies and commoditi responding. Gold, long dormant, has been hitting new highs for the past, i guess, three or four months really. We talked to Katie Stockton about a month ago about what we saw in gold and that it had broken up. It was one of those instances in which she said she doesnt know what resistance is because thes never been here before. Gold up 11, closing in on 2,300. There are inflation concernsle were going to talk to flan fed president Raphael Bostic in an excludive interview at 8 30 a. M. Eastern. In the meantime reuters notes disney is set to win the proxy fight. Enough votes had been cast to put disneys board of directors safely ahead of the two challengers. Reuters did caution theres always a poblts some shareholders may change their vote. Theyre allows to do that up through today. Van guards is backing disneys slate of nominees. Vanguard is the largest investor in disney with an 8. 3 stake, with the stock down. Andrew, do you got a point on this . I was going to say, i dont know if you saw this, becky, but, you know, bill ackman tweeted out last night about this report, i believe. I thought it was fascinating. He said, theres been several of these reporting saying disney is winning this proxy contest with nelson peltz. He said he doesnt have an in vestment in disney but thought it was important to point out what is an inappropriateness to the leaks to the press. He said, my understanding is it is illegal to release the outcome of the vote prior to being finalized as it has an effect of manipulating the outcome. Here the company and its ad advisers or somebody has leaked disney is winning the contest. Its inappropriate and should. Have been done so. I dont know who the sources are. Its very rare where we see a proxy contest in recent years as i recall where you had reports prior to the outcome of whos going to win. Yeah. You know, with half the with about half the votes in, disneys doing that was really it was weird. Its only half. Theres a lots of things that are weird about this proxy fight. Normally companies dont get into the fray. They kind of play like theyre above what the activists are doing. This has been the case where the company has taken activist tactics and turned it back on the activist, which tells you a couple of things, which is, either they were concerned they were going to lose, or this is a situation where bob iger said i cant possibly stand the thought of dealing with nelson peltz. I didnt come back on the board to deal with that. But this has been a proxy battle in many, many ways. All right. Intel shares are lower this morning. The foundry business recorded an operating loss of 7 billion in 2023 on sales of 18. 9 billion. Its the first time theyve disclosed revenue totals for its foundry business alone. Its a step toward ceo Pat Gelsingers plan to continue making its own processoring but to serve as a manufacturer. Intel says it expects the foundrys losses to peak this year and eventually break even midway between this quarter and the end of 2030. Meantime shares of paramount global, theyre rising on new reports that the company is moving closer to a sale. Paramount is considering exclusive talks with sundance, the Media Entertainment company, david ellison. Theyre seeking to sell all instead of parts of the company. Stock is down 20 this your and more than 40 o every the past 12 months. There have been discussions about apollo commenting about buying the studio separately, but that does not appear to be on the table at least right now, becky. Thanks, andrew. When we come back, tesla shares taking a hit yesterday after disappointing First Quarter delivery numbers. Weve got the details right after the break. And in the next hour, well get reaction from ark invest cathie wood. Squawk box will be right back. Announcer this cnbc program is sponsored by baird. Visit baird difference daumg. 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Thats like getting two unlimited lines for twenty dollars a month each for a year. So, ditch the other guys and switch today. Buy one line of unlimited, get one free for a year with Xfinity Mobile plus, save even more and get an eligible 5g phone on us visit xfinitymobile. Com today. Tesla shares yesterday dropping. This after they disappointed the street. Its the first decline since the year 2020. Joining us to talk about tesla and declining, we bring in sylvia. What do you think . Its the first time weve seen that since 2020. I think this is the first time where they have a whole lot of headwinds facing them. There are fewer people interested in buying these cars with rates as high as they are, and the company itself has had issues. Theyve had a fire, lawsuits, a stain to their brand, i think, at this point, and just in general just the possible larry of evs has slowed down in the near term. As a shareholder, you may not be thrilled with where the price is going. Byd, is that a threat in the market . Its a threat theyre going to face in china, but is it a threat theyre going to face here . I dont think its going to be a threat here for a long time, but china is important. I think theyre going to lose some of their presence there because of byd. But i think if we take a step back in terms of tesla, where the future might be bright for them might be in the ai world, the selfdriving vehicles, the robo taxis if they ever accomplish that, they could generate tesla streams. And tesla has cash. Theyve been able to cut the prices of cars, better their margins, and improve things like this. If you stick around for the long term and believe electric vehicles will grow, tesla will win in this space. Thats kind of interesting. Thats the theme for the entire market. Does ai overwhelm or can it outshine some of the concerns people have if the feds not going to cut rates . I think that there are going to be ai winners that are going to do a whole lot of other things and will continue to benefits from that, whether or not theres kind of churn in that theme. Companies like apple and tesla who are consumer driven may suffer from that. I think ai is largely the largest Tech Innovation opportunity we have as investors for the next five to ten years without a doubt. Were talking about concerns in the market, a potential for a pullback. But were still at 1 . I think the panic is overdone. I think its sometimes their own worst enemies. Sometimes the market falls back a little bit and its sell, sell, sell, driving up, and were buying too high. These are times where it takes discipline. The economy is strong, the data thats coming out tells us were in the soft landing. What will destructit. Its hard to see in the near term. Its like stay the course. We have kept saying that for the last year or so. Would you consider this a pullback . Not really. But if i have fomo on a couple of stocks, not major pullbacks, i like to get in at lower prices, and ive seen that at 900 plus. Youve got to buy something, right . At least a pullback of 5 to 10 . Were not talking about that. I think, again, theres so much opportunity and so much big themes in ai that everybody wants to buy those stocks. If you look at the etfs and single stocks and you buy a couple Percentage Points back, its better than buying at the alltime highs. I think dollar cost averaging is the way to go with some of these themes. To your point, i dont think its a pullback. The market ran up pretty quickly since november. Rates are up, oils spike a little bit. We have to ride this out. Areas outside of ai that youre watching at this point . Yeah, im pretty techhappy, lets call it, so i think the next ai for me is quantum computing. Im starting to look at those stocks, whether its righetti or others. Even Companies Like ibm investing in that space there, youre starting to see some kbrouc, whether its from the u u. S. Government or china. I think the chect that gdp moment is going to come. I like Quantum Health care drugs. Thats taking off. And the baby boom era is surging. Do you worry that any of those stocks are at risk . Theyve had huge demand for the weight loss drugs, but theres also a big political push to bring prices down for those drugs. You hear it from areas in the senate, Bernie Sanders calling for it in the last week or so. Youve also got medicare and medicate saying we may not pay for some of these things or the government saying we may want to renegotiate given the losses weve experienced with some of these. Thats a fair point. But even if they have to cut costs, they oar going to generate enormous rates of revenue provided no one gets sick. Like theyre the next fenphen. Exactly. Orr on the other hand they have other drugs. Ai is starting to help these Companies Develop new drugs. Thanks for coming in. Thanks for having me. Coming up live from South Carolina, were going to talk about tesla with ark invest cathie wood whos going to be sitting across from me. Well talk with george pine and ted leonsis who owns the washington caps and wizards and has been in a big backandforth with washington and virginia about which way hes going to go. It looks like hes going to stay in washington. Plus, a rare and exclusive interview. Met owner and chairman and ceo and veteran of wall street, steve cohen on sports, markets, and so much more. Squawk box coming back right after this. Covid19 . Im not waiting. If its covid, paxlovid. Paxlovid is an oral treatment for adults with mildtomoderate covid19 and a highrisk factor for it becoming severe. It does not prevent covid19. My symptoms are mild now, but im not risking it. If its covid, paxlovid. 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Terms and conditions apply to both programs. Learn more at paxlovid. Com paxcess and ask your doctor today. If its covid, paxlovid. Last week we had our special day of giving and ask your doctor today. Where 100 of sales were given to local charities. So many of you came out with huge support. I am pleased to announce that together we raised over 25 million for local Charities Across america. Thanks to all our team members who truly get the giving culture, and our heartfelt thanks go out to all of you that showed up for our day of giving. Together we always make a difference. sirens [due at target in 5 ] copy that. Make a hard left down the alley. Networks got you covered. [please confirm requesting backup. ] changing route. Go. Roadblock ahead. Back up, back up. Reverse reverse next level moments, were 30 seconds out. Need the next level network. [north corridor, hurry ] coming through or 3, lets go. The network more businesses choose. Transplant received. At t business. Welcome back, everybody. The u. S. Cyber safety review board is placing the blame on microsoft for a targeted chinese hack on top u. S. Government officials emails last year. In a new report by the board it called the breach of officials at the state and commerce departments preventable, citing the company for lapses and a deliberate lack of traipse parency. The board is looking at making security reforms across all of its products. Microsoft shares up by about 15 cents. Meantime, becky, i want to make a quick clarification if i could about a story we told you about yesterday. Steven miron and Steven Newhouse resigned from the Warner Brothers board amid an antitrust violation. They served on both the boards of warner bros. And charter communications, but our report yesterday mads it seem like Steven Newhouse served on both boards. But, in fact, his brother michael serves on the board and the probe considers whether their Investment Company vance had representation on both boards. And its a big issue on an antitrust perspective on whether you can have Board Members on crossboards, companies that deal with each other. Wa warner bros. Discovery, we shoulds mention, slightly down to date. We should also mention next monday is its the first time Warner Brothers can tech incomely be sold without the tax issues i had since it was spun off from at t. So in dealmaker land, next monday is perhaps the biggest d day. Well see whether Warner Brothers trades and from a dj perspective whether its can trade insofar there are a lot of questions whether another company could ever merge with it. I like it. Its down slightly week to date. Week to date, its only down slightly. Its an 8 stock. Its tough for a Media Company. Thats like, you know, game stop is down slightly week to date. Since when are we doing week to date . I dont know. There are concerns about the doj. Coming up, were going to talk about disneys proxy battle with nelson peltzs trian ahead of the shareholders meeting. As we heds to break, we look at yesterdays s p 500 winners and los