S p 500 up 3. 5. All of this coming after the major indices closed at record highs. Dow up 55. The nasdaq and s p gaining 1 . Treasury yields with the tenyear yield at 4. 33 . That was fast. Lets look at the meme stocks. Well see. It could come roaring back. Gamestop now down six. It was more than double that. Amc is above the recent lows. Gamestop and amc fell during yesterdays session. Amc, as it has in the past, took advantage of the rally. Announcing a debt for equity stock. It completed a stock sale on monday. Theres the weekly chart. There is contraction and time you think that is a meme stock craze lasts four days . The last one lasted and went much higher. Much higher levels. People said gamestop was much harder to short. Right. It could be a weak phenomenon . Four or five weeks . Yeah. It went into the hundreds, didnt it . People really wanted it to happen. They wanted it to happen. It would be hard to keep any of these things going. Do you think were going to see a meme from here to back like this and im not watching anymore . I think we need a tshirt of you doing that. Im a performance artist. Most people sit like this. Sit up straight and never move or anything else. Im a performance artist. I know you are. We finally learned, this performance artist, Warren Buffett and Berkshire Hathaway requested to keep secret in the two s. E. C. Filings as it an amassed a position. 26 million shares of chubb for a stake of 6. 7 billion. The ninth Biggest Holding for Berkshire Hathaway as of the end of march. Insurance ace limited acquired chubb in 2017 for 29. 5 billion. A combined company adopted the chubb name. Evan greenberg is the ceo. Its a remarkable company. I had it for a while like a blanket liability. You know why you need it . If you have any money at all and you have a german shepherd, you need it. If it happens, they will try to get everything that you have. I have two now. I think they would not do it anymore. Now warren wont do it. Hes risk adverse. He want good credit risks. Parachute . I forget what its called. It covers whatever you built up in your life. If someone you could slip on your walk or something. This is a demonstration of how hard it is to find value. I was looking for something more exciting. Thats the hard part. Very hard to find value. Yup. It was a long wait to find out what it was. Its chubb. I like chubb. It is exciting in the way its run. Shares of cisco higher. Reporting 88 cents a share. Beating 82 cents. Cisco said the decline in revenue was the result of clients taking time to set up the equipment they received in recent quarters. Cisco offered similar comments in previous quarters. Cisco is approaching the end of the years long supply chain challenges. This is all deja vu because i talked about this last night on that groundbreaking show fast money. We talked all about cisco. I know you. You set the dvr or were you watching live . I stopped everything we were doing. I had the family sit down on the couch. I hook up a polygraph to you right now and it is going off the charts. Off the charts. Do we have a tenyear chart . Something going back to 2018 for cisco . This has been completely dead money. You can get back to a point in 2018 where it was trading at 50. Its been tough. They are trying to work off the postpandemic supply chain issues. I also mentioned, do you remember 200 billion market cap . It was 600 when ge was 500 or 600. Back in the day. Cisco. You remember the flip camera . Like austin powers . The flip camera. I think that was the high. When cisco decided to get in the consumer business and decide to make cameras. It is better with the fancy servers. They never had the color i wanted. I wanted that in a pale blue. They gave me a look that i get from you a lot. The person we were interviewing. What is this fool talking about . Talk about looks. A lot of looks. Does you see what it took to get a 13second take . He had eight cuts. Did you see the jumps . I did not. Let me tell the audience. President biden and former President Trump will give looks because they scheduled two debates. One to air on cnn on june 27th. One to air on abc on september 10th. You can mark those dates on your calendar. Both held without the involvement of the nonpartisan commission on the president ial debates. The Biden Campaign calling the commission out of step with the changes in the structure of the elections and interests of voters. Trumps campaign called for two additional debates. He is looking for ones in july and august. Later this hour, we will talk about the risk reward opportunities with Alex Thompson. I feel like this is a cage match. There were a lot of conditions. Trump was going to say yes no matter what. I think thats i dont know. I might have had counter conditions. Mics get turned off when the other candidate is answering. No studio audience. Cnn, say what you will, but we will see. I dont think how long the debate is and they may get past talking about january 6th. Im not sure they will talk about policies or the border. Jake tapper and dana bash. With trump, i think hes going in eyes wide open. What am i saying . What are you trying to say . You think it will be hard for trump . Hard debate for trump . I think he would accept anything just to get biden off script so people can get a look at that. If you had to go to a friendly place for biden, i would do cnn seven days a week for biden. I dont know. I think it will be very, very tough for biden. You do . I think it will be very challenging. I think under all circumstances, it will be challenging. Jake tapper i dont believe that. I think dana and jake will do a great job with it. I dont criticize the questioners. I saw clips where trump was buying people pizzas or something. Cnn happened to be in that for five seconds. Tapper almost had a heart attack. This is turning into and immediately dumped out. That place is crazy. I have great admiration for jake and dana. I do. He cant do anything for you. I will not throw stones. I really like bbret baier. What about sean hannity . I dont agree with him, but he is very good about what he is trying to do. Lets talk about netflix. We can do it after the break. Netflix is searching a deal to stream nfl games it year. The Company Revealed subscriber numbers and announced plans to launch its own advertising platform. Later, walmart is set to report and the instant Market Reaction. Squawk box will be right back. Announcer this cnbc program is sponsored by baird. Visit bairddifference. Com. With its customizable options chain, easytouse tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. E trade from Morgan Stanley voya there are some things that work better together. Like your Workplace Benefits and retirement savings. Voya provides tools that help you make the right investment and benefit choices. So you can reach todays financial goals and look forward to a more confident future. Voya, well planned, well invested, well protected. Welcome back to squawk box. Deere shares are falling. 8. 53 a share. Better than 7. 88. Cutting the profit forecast for the full year. The stock is off 5 . Netflix says it the cheaper ad supported plan at 40 million users and struck a deal for two nfl games. Lets bring in mark maheney of evercore. It has taken years to see what streaming will look like. I have been struck by the new bundles. Its like whats old is new. I feel deja vu all over again. What is interesting about the deal is what it reflects. Netflix is now big enough to economically afford to carry nfl football games. They have 270 million paid subs. For them, the cost of the nfl christmas games is the cost of a mediumsized movie for them. It is in their 17 billion content budget for this year. Now they have 40 million viewers. They had 5 million last year. My guess is close to 80 million. They are doing this globally. That is anything they offer is the global reach. A lot of people enjoy nfl that dont live in the u. S. Netflix can give those viewers an audience. They have someone that can bargain for which games and matches . I would not want a lot of crappy match ups. You need to be smart enough to know who will be good in advance of the season . I hope they have somebody to figure that out. This is another coming outmoment for netflix. They have the cash to do it. You will look at more. Several years ago, they said they would never do live sports. They have been creeping toward that as they said they will never do ads. It is the best of the media stocks in terms of what we have seen. It is still, you know, its not back to 700. What was the high . 680. That is when squid games came out. When squid games 2 comes out later this year, it will take them back there. What is the incremental number that will come out . That is the fundamental question. Peacock has done it and others have done it before where you add a live sports event and people sign up just for that event. When peacock did it, it was different. On a christmas day, how valuable are those days . We dont have netflix in the house and we have to get netflix in the house today . I think it is more driver of engagement. I think it will get some subs. It is more engagement. They have more and more inventory to go after advertisers. They are close to 1. 5 billion ad revenue run rate. They dont disclose it. Thats a guess. I think they will be close to 4 billion in ad revenue. I think they will get there next year. Thats a good diversiification for the company. How are the efforts used to promote the rest of the platform . You go on the platform and you watch the game and this is how the Linear Networks do it, go during the commercial breaks. Just like the mike tyson and jake paul fight and worldwide wrestling next year. All of these are more and more tentpole opportunities for the company to bring in more users and increasing eengagement. The future is no ads . A few ads . Few ads. I know on this. I like one and a half minutes and the thing in the top of the corner i watch. I dont like four minutes. Will people still have ad free and pay for it . I think they will give you both and let users decide. Netflix always without ads and 30 or 40 of the market out there is certainly fine with ads for a cheaper price. If you want ads, you can have ads with a cheaper price. There is a large market for that. That is one thing that netflix did. They took long to embrace advertising. They have. It expanded their market. This was a company that kept taking up prices. They came in with aggressive low price with 6. 99. That is a latte in new york. Now they have that content and the nfl games. What a great deal. We found out yesterday that even these ads dont work. His view is he thinks 80 of it is a waste of money. I dont know about you, but i sit through the ads and see them in a way that is more annoying. Do you mind a minute and a half or would you rather have none at all . My preference is none at all. Im probably in a position to pay the fee for not having the ads. Ing having said that, you have a choice. I was going to ask about the package deal between peacock, owned by the Parent Company of this network, and paramount plus with the package . Im not familiar with that. To me, it is a sign of the times. If you put together a streaming bundle, you have to include netflix in there. You negotiate the terms. Thats what consumers want. The surveys we have run offer t overth over the years, people want bundles. People will recreate the bundles. They may pay more than in the past. Keeping my xfinity. We are bringing out hot wings for you. Im learning so much this week, andrew. How many times have you seen that show . Hot wing on netflix . A lot. Im telling you its a big deal. They get young demos. Yeah. Coming up, an interesting note on the Inflation Numbers yesterday. Some of the data was posted 0 minutes early on the bls web site. We will bring you the details of what happened after this. Initially when i came to the u. S. , i didnt speak english. I had to listen first before i spoke. Thats allowed me to observe trends happening as they unfold and really shift what im doing and what im thinking and working on. Thats how i think i was able to see the early social media wave and recently on the a. I. Side. Dad, dont forget about my new cleats. Sweetie, i cant make it to dicks this week. Have you heard of dicks. Com . Have i heard of dicks. Com . Girl lets go lets go have i heard of dicks. Com . screaming whoa. Dont overthink it. Lets go shopping. Actually what i need are some cleats. How about one of these . Great. Done. Anything else . No. Golf clubs . Not for me, for a friend. Yeah, yeah, of course. Anyone impressed with how fast that was . Yeah, totally i know, i went to dicks. My cleats thank you i love you wha. Ii went to dicks. Com. Ever heard of it . Girl 2 yeah, i told you about that. energy fuels, a leading american uranium producer, is ramping up production to supply expanding Nuclear Markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. Energy fuels. This one is fascinating. Some of yesterdays cpi data was inadvertently published 30 minutes early. The bureau of labor posted files to the web site before the release time. The early indications seemed to move markets. We were on air and did not seem to notice the move. The agency saying it is conducting the investigation into the procedures to ensure this incident is not repeated. Lots of questions of the information coming from the bureau and the fed. This is different from the data that jay powell got to say we are still on track. It was Richard Fisher who said it is possible that jay did not have the information. Hes alllallowed. Often times the president gets the data in the afternoon. They should not tell any of the guys in congress or guys and sg gals in congress. Those good at calling fidelity. Some members of congress have tens of millions of dollars. Some of those people. Some of them do. Some of them do. Hopefully they made that money prior to becoming congress members. Coming up, we are going whale watching. We reveal big moves from the biggest investors in the world. We will tell you about those investments next. As we head to break, we show you yesterdays s p winners and losers. Announcer executive edge is sponsored by at t business. Next level moments need the next level network. To s 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 are you interested in safeguarding your investments with gold . Alamos gold is a growing canadian gold producer with a long track record of outperformance. Alamos gold. Invest with us. Our growth sets us apart. car, this isnt the way home. Thats right james, it isnt. Car, where are we going . Were here. surprise the future isnt scary. Not investing in it is. Car, were you in on this . Nothing gets by you james. Nasdaq100 innovators. One etf. Before investing, carefully read and consider Fund Investment objectives, risks, charges, expenses and more in prospectus at invesco. Com good morning. Welcome back to squawk box. Live from the Nasdaq Market site in times square. Lets check the futures quickly. Green arrows across the board. Little ones. A lot can change between now and the opening bell. We had two great sessions in a row bringing the averages to new highs and bond yields are back up sharply. Gold rallied based on ppi and cpi. One was hot and revision wasnt happen on the ppi. The cpi was received with the notion that inflation was again starting to moderate. New this hour, the eu is investigating facebook parent meta over alleged breaches of content law over child safety risks. It is looking into facebook and instagram may create socalled rabbit hole effects. The Commission Said it is concerned about age verification on the meta platforms. Meta did not respond to cnbc and request for comment. Time to talk about whale watching. Some of the worlds biggest Money Managers revealing the First Quarter investments and filings. Leslie picker has more. Reporter andrew, chubb shares yesterday spiked on the revelation that Berkshire Hathaway named the insurer as the longawaited mystery pick. Berkshire hathaway disclosed the stake of 6. 7 billion at the end of q1. Comprising of 25. 9 billion shares. We have had the position in q3 and q4. Yesterday, we learned the mystery name is chubb. Now the ninth Biggest Holding. There were other interesting Financial Moves during the quarter as well. We dont always see this. Third point took a stake in Goldman Sachs which had a record high yesterday. Dan loebs firm had exposure to apollo. Viking and corevex paired back kkr and Michael Burry bought citi citigroup. In fact, among the 20 highprofile Fund Managers we tracked, we saw the biggest inn inflati influx of capital into the quarter. That was drive n by the chubb purchase. It certainly is good times for the financials, guys. Are you surprised there is so much interest in the financials . Reporter a little surprise, although, a lot of this is part of the catchup trade last year. Most people were expecting recession which would be bad for the publicly traded financials out there. Now there is a notion and narrative we achieved a soft landing and people are starting to feel more comfortable buying banks and firms that dabble in private equity because the macro picture has shifted so much and the regulatory picture shifted with the capital roles changing. That bodes well for investors on the sidelines and now, as we see from the filings, coming ack. If you piggyback the trades, are you always late . By default, you are late. Reporter these are as of the end of march. These are six weeks delayed. They may have changed. Andrew, oftentimes people who chase positions are doing so only to find that the manager has traded out shortly after. Leslie picker, thank you. Coming up, the debates are on. We take a closer look at the upside and Downside Risk to each candidate. Thats next. Squawk box will be ri