A lot of excitement building for the 2024 olympics which is 55 days from now. We will all be here together. We have more on the big events in a couple of minutes. I should tell you a lot of news coming out of france this morning. President macron going to new c caldonia where there have been riots going on. It is the Third Largest producer of nickel. A lot of folks paying attention to what is happening in the french territory today. Also news out of france where the country says it will be supporting the International Criminal court which says it would like to issue arrest warrants for Prime Minister netanyahu of israel and hamas. We will discuss all this and more throughout the broadcast today. Wow. Andrew, we have a ton to talk about. Joe just mentioned the Scarlett Johansson news with a. I. And the big issues coming from that. We will talk about all these things coming up. Are you scouting locations for us . We appreciate that. This is the first. Is this a good one, you think . Is that somewhere we might want to consider . I think this could be our summer spot. We could do this on an annual basis in the summer. We could move the show over here for a couple of months every summer. No question. This or maybe italy. The amalfi coast. Thats pretty nice. For the olympics . I dont know. We may want to be higher up. Keep looking. Keep looking. You have some time. Theres andrew. All right. Lets check on the markets quickly. We will go back to paris and talking about all of these issues andrew mentioned. Right now, it is a mixed future. Dow up 16. The s p futures up 3. The nasdaq down by 7. It was a mixed picture at the close yesterday. The dow was actually down. You saw the worst performance for the month of march. It wasonly down. 50 for the month of may. Down. 50 . That tells how strong the markets have been. Lets check on treasury yields. Loretta mester no longer sees three rate cuts this year. The tenyear yield at 4. 42. And crypto. Now ether is leading the group higher which is up 18 in the last two days amid speculation that opposition is easing among regulators toward approving one or more of the spot etfs. Trade directly in ether. Bitcoin is back above 71,000. I havent looked at it. It is just below 71,000. Andrew. Joe, we should talk about this one because i think this is making news around the world, frankly. When asked about successiosuccession,. Jamie dimon, he said retirement was five years away. He said the typeimetable not fi ye years anymore. He said the Succession Plan is on the way and the company is moving people around. Among the short list is marianne lake. Con ssumer bank ceo. And we have jennifer piepszak. It is is likely dimon will stay as chairman. One date to think about, folks, is the opening of jpmorgan chases new headquarters which is being rebuilt on park avenue. The expectation is a 2025 event. That is something jamie dimon has been inn mtimately involved. You can imagine the ribboncuttings and the like may think or serve about the timing when this happens. I imagine it will happen after that. He has been shepherding for quite a while. Making its mark on the manhattan skyline and this is the legacy that they are passing on. It was interesting when he talked about this yesterday. He said they have so many people who have moved through so many sections of the bank that he thinks they have done a phenomenal job on Succession Planning. They have a deep bench and a lot of understanding from the Investment Banking side and worked in all of the an arenas. How long ago was it he got sick and conjecture . Hes fine. We have done this before. Counting down of jamie dimon. Just the first time he said it is not five years away. His demise has been exaggerated. Has that been ten years already . Maybe not ten. Six or seven years. That was in 2020, i believe. Was it only four years ago . Really . Wow. I want to say that was the timing. Two different issues maybe . I remember he talked about it at different times. There were two instances if you go back never mind. Lowes coming in at 3. 06 a share. That is better than the street was expecting. Revenue of 21. 36 billion. That is a beat. Comparable store sales down 4. 1 . That was better than the 5. 5 the analysts forecast. The decline in do it yourself spend was offset by positive Comp Store Sales in pro and online. Lowes is affirming guidance for the full year. We will continue to watch that. That stock right now is up 1. 25 . Ten years ago, andrew. I was talk about when he had the throat cancer that was curable. He was 58. That was ten years ago. I realized when andrew said it the different succession. He had another health issue. I remember it was throat cancer back then. Joining us for more on this is brian nagel at oppenheimer. Lets talk about what you see in lowes earnings. Better than the streets estimates. What are you expecting, brian . Good morning, becky. Im looking through the results now. They are definitely better. Modestly better than pictured, but still weak. As you said in the opening, lowes down 4 comp. Down 5 or 6 . Better there. Earnings beat expectations nicely. Better than expected. Like we were talking about home depot a week ago, this shows the ongoing struggle in the home sector. If im looking at the comments from the press release, i hear them saying the internal initiatives are well, but fighting a difficult back drop. When you say lowes is not designed for comps down 4 , what do you mean . They cant turn a profit . The company is solidly profitable. It generates a ton of cash. Thats good. In order for them to leverage their expense structure, this is true for most retailers, you need comps in the low single digits. Lowes doing a comp down 4 is what i like to call sub. That is not what this company is designed for here. In order for the company to operate properly, you need a low single digit comp. We are still a way away from that. Even when you are talking about coming off such high comps from before . Its a tough comparison when you look at the spending people were doing during the pandemic when they were staying home and not traveling. I maintain thats the biggest problem. Im talking to our clients every day on the Home Improvement and wondering whats going on here. To be clear, there is underlining confidence. The consumer is not as confident as it once was. The biggest factor for lowes and home depot and frankly for a lot of the other companies that benefitted during the pandemic is were lacking past that boom in sales. Thats the biggest issue. You have to wait for the stuff to break and if you bought a new washer and dryer or dishwasher. Nobody is upgrading phones because they did the upgrades recently. Thats exactly right. I totally agree with that comment. A lot of Home Improvement projects were taken during the pandemic. Decks or kitchens and bathrooms remodels. It takes a while for that to be replaced. We have some time here. In the meantime, where do you think about where the stock is priced at 234 . I still think lowes is ahead of itself. The stock should be lower. If you look at the multiple standpoint, its 19 times. I think the stock is still ahead of itself. The story behind that is and this is changing because it wasnt that long ago where lowes was higher. I think the market is too optimistic on the prospects of second half of 2024 recovery or some recovery to 2025 as the fed starts lowering rates. The fed lowers rates and it gets to the point where people starting able to move and home sales go up and that gooses the number of Home Projects again . That is a big piece. You would have lower leveraged rates on home equity lines of credits which is a source of Home Improvement. In my mind, i look at lowes and home depot and the channel, rates have to get lower before we see the unlock. We have a way to go. Okay. Brian nagel, thanks a lot. We appreciate you being so fast as the numbers are hitting with the analysis. Thank you. Coming up, we will talk about two two pandemic darling stocks that plunged in the past year. Peloton and zoom. And Scarlett Johansson threatening action against openai over the chatbot voice. Details are next. voya there are some things that work better together. Like your Workplace Benefits announcer this cnbc program is sponsored by truist is sponsored by Truist Securities and look forward where meaningful relationships matter most. Voya, well planned, well invested, well protected. vo what does it mean to be rich . Maybe rich is less about reaching a magic number. And more about discovering magic. Rich is being able to keep your loved ones close. And also send them away. Rich is living life your way. And having someone who can help you get there. The key to being rich is knowing what counts. And theyre all coming . Those who are still with us, yes. Grandpa whats this . Your wings. Light em up gentlemen, its a beautiful. Day to fly. Welcome back. We are watching shares of zoom video beating the streets expectation. It was based on the rollout of a. I. Products. Zoom raised the fullyear forecast, but the Current Quarter came in weaker than expected. The stock off 2 . Joe. Peloton shares plunging 12 . Thats not much. 12 . Its a penny in extended hours. It has regained ground. The Company Announcing a global refinancing to stave off a cash cr crunch. You remember the call last month. Barry mccarthy is stepping down and will layoff 15 of the work force because it, in its words, had no other ways to bring spending in line with the revenue. The market cap of the pandemic darling stock now falling below 1. 5 billion. Still seems like a lot. Microsoft introducing a new a. I. Software set and computers with advanced chips from qualcomm designed to run without awe an inter net connection. We will talk more with joanna stern. The processing units where the a. I. Is on the chip on the computer. In other a. I. News, microsoftbacked company openai is responding to legal action from Scarlett Johansson. The actress staaid the voice of the chatbot sky sounds similarly to hers and news outlets could not tell the difference. I dont have a seat, but you get the idea. Scarlett johansson was asked to voice that system, but declined. When the demo came out, she was shocked and angered it sounded like her voice without her permission. Pretty generic sounding voice. I would need to hear more. I wont know. If it was you or me. After her Legal Counsel sent letters to sam altman and o openai, they agreed to take down the voice. First part sounded like her voice. The second part, not as much. I need to hear a longer clip to tell. The voice of sky was not meant to sound like Scarlett Johanssons voice. The voice actor was chosen before reaching out to her. He said they paused using skys voice in the products and apologized for not communicating better. Scarlett johansson pointed out that altman tweeted the day the demo was released with a single word. Her. Thats the title of the movie which Scarlett Johansson voiced the chat system who forms an intimate relationship with the joker. Clearly trying to go for that. The joker, you know, had an if you havent seen it. Thats more than i want to know. It will be a joker. They left it. He was amazing in a sick way. A great actor. This is an interesting question. This is where you have so many content makers who are so upset and concerned about a. I. And whether that be p puublishers o authors or film stars and actors and actresses, they are so concerned about what happens because once you take a. I. And make it sound like you and look like you, steal the content you have written, it happens. I need to get paid for that. You would not get voiceover ain animated films. This large language model is being trained. Writers are furious about it because they are making money off it. They would say we are not making money off it, but now . You can have morgan freeman. Or james earl jones. Or vingh rhames. That will be a sticky and difficult thing to prove on either side. Willie nelson. Not quite twangy enough. I cant do willie nelson. The idea that he tweeted out her clearly implies they were shooting for that even if it wasnt her. They reached out to her. I can understand her frustration. Gave up the ghost there. Coming up, cybersecurity stocks tumbling. Well tell you why. Next, Quarterly Results from macys and the instant reaction the stock reaction. I dont think we feel that much one way or the other how it goes. Ill have zero reaction to macys. The stock line when we come back. Glp1 drugs used in weight loss treatments are a global blockbuster, even with unliked and inconvenient injections. More human Study Results for lexarias patented oral Delivery Technology are coming soon. Lexaria bioscience. 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. [crowd chanting] they ignored your potential, and mocked your ambition. But its not the critic who counts. With every swing and block, your game plan never changed. Some still call it luck. Let them. Because you know what its always been. Inevitable. Shares of Palo Alto Network falling. The Current Quarter down 25 . The forecast disappointed the street. The ceo said he was surprised with the reaction as investors look at subscription revenue and not billings. Anyone having deja vu all over again . The tepid forecast weighing on other cybersecurity stocks. We were in davos. It wasnt him, but someone else from palo alto. They told us dont look at bookings. Look at other metrics. Then they have disappointing numbers. This was two or three months ago. It was january. It was the last quarter. This is two in a row where what they are talking about, we referenced it in the interview. You remember that, sorkin . I remember it clearly. I do. I remember it clearly. I remember it more clearly since im on the other side of the atlantic and feel close to it. State dependent learning. You are close to where it happened which is cool. Thats pretty amazing. Youre back with us. Thats good. Meantime, let me bring you new numbers from something happening domestically. Trump Media TechnologyGroup Reported a net loss of 327. 6 t million in the First Quarter with total revenue of 770,000. Thats not a misprint there. The revenue was 770,000. Theceo stating the company is exploring a wide array of initiatives to build out truth social and m a platform. It has signed contracts to host the tv platform. The quarterly filing was delayed after the former auditor was charged with fraud with hundreds of companies, not just truth social. I dont know, guys, can you have a company with only 770,000 of revenue in a quarter thats worth 4 billion . What was the loss number . You said it was 400 million, wasnt it . Im trying to figure that out. 327 million. Thats what im saying. Im saying just im sorry. It is hard for me to make sense of any of it. It is weird. Not a political statement. Just math. It is like a decimal point mistake. It looked like someone messed up their notation. I love hearing the sirens there, andrew. The different sirens. Yeah. Sights and sounds from paris. Do you have clearance to be where you are set up there . Theres security. And security. They may be coming to say something. We have an amazing team here. We have an amazing team. We have a bunch of people. We talk about having a studio audience. We have a studio audience here to today. We have folks around us watching in the streets. I guess we do the same thing here. We have times square behind us. Andrew, does anyone have a beret . Look around. Do you see anyone actually wearing a beret . Yes, we have a group of police force over there that are they are heavily armed. They are wearing berets. I dont know if you can move the camera. The line was too long one of the times we were there. You can go up there. Have you been to the top . You have to do that, sorkin. I have been to the top. I have been to the top. I dont think were going to have enough time this time around on the trip. Hes been to paris. He has. Well always have paris, andrew. Are you wearing blue . Germans wear gray. You are wearing blue. We are going to continue talking about these issues and calpers taking on exxon in the next shareholder meeting. That story is coming up after the break. As we head to break, lets look at yesterdays 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 the future is not just going to happen. You have to make it. And if you want a successful business, all it takes is an idea, and now becomes the future. A future where you grew a dream into a reality. Its waiting for you. Mere minutes away. The future is nothing but power and its all yours. The all new godaddy airo. Get your Business Online in minutes with the power of ai. Good morning. Welcome back to squawk box live from the nasdaq in times sq square. Becky and i are here. You would say its becky and me. Right. Right. People mess that up all the time. I have to slow down. They throw an i in and it should have been me. Checking the futures this morning, you see up 20 points. S that danasdaq hit a new high yesterday. Dow down. California Public Employees retirement system known as calpers is taking on the exxon environmental investors. The pension manager said it would vote in opposition to all of exxons board nominees and the ceo at the next weeks shareholder meeting. Calpers cites the ability to quash the two experts. The activists submitted a p proposal to force the two to reduce emissions. We talked to