When the 2 00 p. M. Deadline came and went. We will see what happens. These are happening not necessarily at this level, but all over at more campuses yesterday. South florida. You know, if you are watching, it could be any university at this point. Im not surprised to see it happening. Crazy. Everyone comes to these conclusions at the same time at every university. Very strange. Media news. Something that is easier for us to understand, i guess. This is not easy. Bob bakish is stepping down. Me merger negotiations with s skydance continue. Cbs president george cheeks and showtime Ceo Chris Mccarthy and Paramount Pictures chief Brian Robbins will be on the board. They reported 62 cents which beat estimates. We will talk more about the paramount news with rich greenfield later in the hour. To news about the Parent Company that Nbc Universal is prepared to pay 2. 5 billion a year to air a package of nba games. Warners tnt has been paying 1. 2 billion a year under the current deal, but failed to reach a new agreement with the nba before the negotiating window expired last week. The subscription prices for peacock are going up. Increasing by 2. The option will cost 7. 99 a month and adfree is 13. 99. Macys is sending an ultimatum to corporate employees. Come to the office two days a week or you could face termination. According to bloomberg, the company telling hybrid employees yesterday via email that the policy will go into effect on may 13th. It is giving workers a threemonth grace period to move back to the new york city area. If they have not returned by then, they could face consequences, including termination. This is what bruce ratner said yesterday. The occupancy levels. You normally have 25 and now it is 12 . Take a look at shares of trump media. They have been rising since the low of 22. 80 hit on april 16th. The stock closing at 46. 69. The company has been campaigning against short sellers and making it difficult to loan to sellers. It may have decreased the number of shares. It may be possible a short squeeze is occurring which forces you to repurchase the shares. Without that explanation, there really is none. Probably not. It is not realistic to say it reflects poll numbers. I could make more ridiculous assertions, probably. This president is going to be worth a lot if he im not agreeing with you. Well see. It may be technical. At this point you dont know why. Hes on truth social now and nobody is looking what he is saying. You need to Pay Attention if he is not tweeting. Remember when he tweeted as president. Remember what happened to the value of twitter during that period . Nothing. Thats the whole point. When he was on twitter, everybody said how is it possible that twitter cannot possibly monetize trump ph phen phenomena . Who knows . Twitter. What is it worth now . It is probably more popular than ever. Thats why this becomes i dont know how it was worth 70 or 22. I know the fortunes have doubled in the last couple weeks. Federal judge in new jersey rejected the challenges to the Biden Administration program to allow medicare drug price negotiations. A ruling the program is, in fact, constitutional. The charges were brought by Johnson Johnson and bms. The drug price negotiations plan has survived legal challenges in delaware, texas and ohio. Drug companies had been seeking split decisions in lower courts to escalate the issue up to the Supreme Court. When we come back, amazon is set to report after todays closing bell. We will tell you what to expect next. A programming note for you, this saturday is the Berkshire Hathaway annual meeting. Warren buffett will take the stage to answer shareholder questions for five hours. You could see it all right here on cnbc. You can watch it streaming on cnbc. Com. The day will kickoff at 9 30 a. M. Eastern time. Mike santoli and i will be there along with 40,000 other people. We will be joined by Board Members and managers and shareholders. A few surprise guests for you as well. We will have full access to Warren Buffett on stage and alongside him as his special guests. You can see it on cnbc and c cnbc. Com. Announcer this cnbc program is sponsored by baird. Visit bairddifference. Com. This is our future, ma. Godaddy airo. Creates a logo, website, even social posts. In minutes how . A. I. impressed ay i like it who wants to come see the future . get your Business Online in minutes with godaddy airo when it comes to investing, we live in uncertain times. Some assets can evaporate at the click of a button. Others can deflate with a single policy change. Savvy investors know that gold has stood the test of time as a reliable real asset. So how do you invest in gold . Sandstorm gold royalties is a publicly traded Company Offering a diversified portfolio of mining royalties in one simple investment. Learn more about a brighter way to invest in gold at sandstormgold. Com. Elon musk is trimming head count at tesla again. According to the information, the companys senior director of the super charger business will be requeasked to leave today an 500 employees who work in the super charger group. Tesla is coming off the best day since march of 2021. Elon musk has added 37 billion to his own net worth in the last five days based on the jump we have seen in shares. Amazon is set to report results today after the bell. Joining us with the preview on that is jay woods. Jay, we saw the Cloud Business at microsoft and google with strong results. Are we expecting the same from amazon . We are. The ad revenue is something we are really going to focus on because this is the first time they report quarterly reports with the prime video ad sales. We have seen the momentum in ad sales across the board. We expect that to continue. Awsshould continue to improve and a. I. As well. A. I. Is what andy jassy is investing in. It released rufus which is the a. I. Assistant that will be helping you shop when you are shopping online. On the ecommerce side, they continue to crush it on all metrics. Fundamentally, it is hitting it. You look at the technicals and it is just starting to make alltime new highs. It is the last of the magnificent seven or six with tesla which well talk about in a second. It has the same trajectory of the alphabet. It could breakout of the good quarter and has room to run. I like it on all fronts. You mentioned the online component as a an afterthought. Were so used to it. It is expected. Its the gold standard. Exactly. When you think of amazon, thats naturally what you think about. Andy jassy has set the table for growth in aws and ads continuing to climb. They are going to the playoffs this year. That will be interesting when my eagles are on amazon instead of nbc. They have been hitting on all metrics. The amazon story is moving the needle. The extrajectory is picking steam . I think so. They have gone up in average of 7. 5 the last three. The only thing that is troubling me is the pattern were seeing given headwinds in the overall market. Stocks like alphabet that beat are starting to fade. You see stocks beat on earnings and struggle to make the new highs and keep them. If headwinds in the market persist, we will see what the fed does this week, then it could struggle th to go on the trajectory. We have seen meta and alphabet add dividends. That would be a great thing. Forget about continuing to build for future growth. Exactly. Lets talk about tesla. Huge runup in the shares if you are looking at the last five trading sessions or so. Elon musk going to china was a surprise move. Really solidifies that country in terms of the story for tesla which is an important one. A tentative agreement. It was a tentative agreement. It jumped 15 . Best day in three years. His net worth up 37 billion over the last five days. It is still down 21 for the year. It is still mired in the two years. They are not hitting on all metrics. Revenues are decreasing. Pricing pressures in ev continue to mount. China story is huge. Autonomous driving is what everyone is watching. That is the next big thing. We are focused on august 8th. The cyber cab making its debut. Can that translate globally . The rollout of the model 2. There was a twitter battle saying it would not happen. You assuage those fears on the conference call. It has to be a showme stock. Right now, thats why it is mired in the longterm down trend because they missed on the metrics. The tesla semi. The pricing pressure. The price points went up and battery life went down. There are a lot of factors in tesla that have investors worried. Short interest at the high est level in two years. One of the reasons prewhy the sk has popped the last few days. You never want to bet against elon musk. There have been failures in deliveries. Investors have not been running it up like they have in the past thinking this is going to be the big thing. They want them to be shown and well get some answers come this summer. You wouldnt short it . I wouldnt trade it. Actually, thats how you play the stock. You trade it. It makes big moves. For me, there are a lot of other vehicles, yes, pun intended, to put your money in right now. Amazon being one of those. Jay, thank you. Thank you. Coming up, a new rule is going to require automatic emergency braking on passenger cars in the u. S. I dont like when that happens. Details straight ahead. Theres tons of them. You go through the windshield . Im going to stop. It doesnt think im going to. Backing out of my driveway. Nobody around. A car in the parking lot. Did you hear the alarm go off . I see it. I see it. Im tailgating. All right. Eli lilly set to report. Ceo david ricks will join us in the first on cnbc interview in the 7 00 hour. Its aabrupt. You get a rental. At corient, Wealth Management begins and ends with you. We believe the more personal the solution, the more powerful the result. We treat your goals as our own. We never lose focus on the life you want to build. And our experienced advisors design custom built strategies to help you get there. Its time for a Wealth Management experience as sophisticated as you are. Its time for corient. The national Highway Traffic Safety Administration finalized a new rule to require all new Passenger Vehicles to include automatic emergency braking. The government says it will save lives and prevent thousands of injuries each year. It will require vehicles to apply the brakes automatically to avoid collisions and stop for pedestrians during the day and night. It is already in a lot of cars now. It will be required in every car. Yup. Its a good thing. Jarring. It helps. To save hundreds of liefves. Coming up, education stocks under priessure. We will bring you the latest. And Edward Norton will be here in the next hour. As we head to break, the look at the s p 500 winners and losers. Announcer executive edge is sponsored by at t business. Next level moments need the next level network. To start a business, you need an idea. Its a pillow with a speaker in it thats right craig. A team thats highly competent. Im just here for the internets. At t its superfast. Reliable. You locked us out . arrggghh ahhhh solutionoriented. [jenna screams] and most importantly. Is the internet out . Dont worry, we have at t internet backup. The next level network. I sold a pillow your record label is taking off. But so is your sound engineer. You need to hire. I need indeed. Indeed you do. Indeed instant match instantly delivers quality candidates matching your job description. Visit indeed. Com hire sofi is helping me get my money right to achieve my ambitions. Like earning more money on my money as a head chef. Ready for service . Bank with sofi to earn a higher apy and an epic welcome bonus. Its a beautiful. To earn a higher apy. Day to fly. Wooooo good morning. Welcome back to squawk box here on cnbc. We are live on the Nasdaq Market site in times square. We are down a bit here. Dow off 15. S that nasdaq off 9 points. Four lawmakers trying to overturn President Bidens new rules to require airlines to issueautomatic cash refunds. Joining us to talk about what is at stake is brian kelly. Good morning to you. Last week was the big announcement. You heard it from the are transportation department. There are a lot of consumers who think it is great. You dont have to make the phone call or ask. Now it appears these four lawmakers, who, by the way, are some of the biggest beneficiaries of donations from the airlines and now trying to insert the line into the new bill to effectively undo it. Brian, what is at stake here . It was christmas in april last week. Almost universally this rule was cheered by consumers. If you pay for a service and you dont get it or choose another service, you should get your money back. You know, these lawmakers are trying to reverse that. I think travelers are now going to get to see how the sausage gets made in washington. Although President Biden and d. O. T. Came out with the rule, congress has the power to legi legislate. That happens in committee behind the scenes. A lot is at stake. Is it unfair to raise the point that i dont want to say theyre on the dole, but it looks like theyre on the dole. They are huge beneficiaries of lobbying money from the Airline Industry. Not to mention they all fly back to their districts. Theyre heavy users. These particular four are the money ones. They all have to fly back to their districts. The four who are doing this are the four largest beneficiaries of money from the Airline Industry itself. What does that say . Tell me how you get paid and ill tell you how they act. This isnt necessarily the death nail. There are some interpretations to allow the d. O. T. Rules to remain in effect, but, of course, it just depends how its written. It seems like they are trying to rollback and give the airlines the right to make people jump through hoops. It is egregious to raise fees. Jetblue raised bag fees dramatically. If your flight is canceled, you may get the refund, but not on fees. You need to call your lawmaker. This is a critical election year. The race is super tight. If consumers speak up, now is the time to do it so lawmakers will not slip this therough. Do you buy the idea coming from the Airline Industry as a result of the rule that prices will go up materially . I will say this. The rules as they are are very prop p proconsumer. There needs to be morle leeway. The threehour delay. A lot of times delays are out of their control. Air traffic and government staffing. I do think there needs to be a little bit more leeway for the arti airlines. The airlines are touting better schedules. I dont think they will dramatically go under it they have to refund people ought hat ickly. Consumer should get refunds for canceled flights. You heard Pete Buttigieg reference this. He is hoping customers get refunds, but airlines change their behavior to the extent if there are routes that they know in advance that they are likely to have delays on and maybe they dont fly those routes and there is a change. There is always a law of unintended consequences. This is happening in legislation all the time it. I dont doubt that may happen. I also hope it pushes the airlines to treat people better. Book them on partner airlines. Proactively get them on another airline. A lot of airlines dont have partnerships to rebook which leaves passengers stranded. Especially lowincome page passs who cannot afford to buy another ticket. This is not just the european or canadian compencompensation. This is getting money back for a service not rendered. The main intent of the regulation remains in effect. If your Business Model cannot survive if you dont pay people back for services not delivered, that is a valid argument. I would agree. Can we do that for the wifi on the plane . Yeah, this covers the wifi and seating extras. You know i know that, but how often have you gone on to gogo or any of the services and you pay the 15 or 20 or 30 sometimes and it works for three minutes and it doesnt work for the next six hours. They charge you. How are they going to know to automatically repay you . I believe that business that is a crazy business. They know they cannot deliver the product going in. They will refund you, but you have to submit the request. How many Business People are taking the time . You will refund if you submit the request. I agree. Fine aal question, brian. This rule is not in effect yet. When your flight is canceled, a, what is the easiest way to get your money back . Are you calling the phone number or using the text chat bot . What is the quickest and efficient way to rebook in those moments when you are sitting on the plane and they will deplane because they are cancelling it in the moment . The first thing i would do is go in the app. Have the airline app you are flying. Some are better than others. They will let you rebook. If you dont want to shell out extra cash and wait for the re refund, see what the airline can offer. Take it so you dont have to shell out more and wait weeks for a refund. I lot the chat bots. You can screen shot and get it in writing over a phone call and miss co miscommunicate with the agent. All of the airlines have landing pages. They will send you a receipt. Brian, good to see you. Thank you. Thanks for having me. Coming up in the next hour, we will have former House SpeakerKevin Mccarthy on set joining us live with the latest in washington. Thats coming up in the 7 00 hour. Reminder, get the best of squawk box in our podcas u can listen anytime with your favorite podcast app. Well be right back. Everyday chaos. This mothers day, help mom take it in stride with thoughtful gifts from weathertech. From playing in the rain with muddy cleats on the floorliners. To dirty camping reminders in the cargo liner. Spunky toddlers testing out the allpurpose mat. Epic food fights contained by the seat protector. Add a cupfone to secure her phone and just like that. Youve made moms life easier. Order these American Made products or a gift card at wt. Com happy mothers day from weathertech. I cant believe