That hype. Making our call of the day. Its founder with us live today from miami. Ronnie, welcome to the program. Thank you for having me. Regards to mario. I just met his son a few weeks ago. Why make this call . The valuation is completely disconnected from what my analysis is showing me. The market is treating tesla as if its the equivalent of a gm or ford when, in fact, the revenues for ford and gm are 20 times what tesla is. On any me tritric that you look it the market spriesing in a best Case Scenario disregarding all the threats and concerns that i have looking out a few years and i think that a lot of the recent buying was fuelled by Short Covering and if you look at what happened the last time the market collapsed in january, tesla when down to 150 a share when the high pe names went out of favor. Are you doubtful that they can produce the number of calls they think that they can . Or that these amazing order which is they have been over the past week for this new model 3, are you doubtful of that entire story . Im very skeptical. They had trouble meeting expectations of 16,000 yununits last quarter so when people tell me theyll go from 100,000 units to 500,000 units within four years i would not bet money on that theres a lot of better places to put your money than tesla right now. It will probably go down 20 or 30 before then. Theres names that have 50 upside. If we look out a few years with negligible down side risk and that would be a better place to park your money than to put it into tesla at 260 a share. Gm and ford combined will be at 10 billion units you mention in your note and you say, quote, i did not follow tesla much in 2014 or 2015. How much of this is looking at the stock price and having that call your attention back to a story that you havent followed that closely in the last couple of years . No, i am up to speed with everything thats going on there but in 2014 and 2015 i wasnt watching it. The last few months i was watching it closely and the recent spike of 75 that caught my attention. I actually have a 20 page report going out on this name where i detail all of my concerns and the riskreward which i think is very unfavorable at this level. Do you think tesla will have to raise capital to meet their production goals . I think so and when they said they werent going to have to raise capital they ended up blind siding the market and raising capital. You look right now at mazda, fiat, ferrari and porsche. The tesla market cap is greater than all four of the companies combined and they havent even generated a profit yet so when analysts are telling me that they might earn 6 a share in 2018 im very skeptical. Thats 45 times a speculative estimate for 2018. Gm and ford are at 6 x so i prefer the risk reward there than i would with tesla and one more point, you could right now buy ksu, flr, goodyear tire, bed bath and beyond and Harley Davidson with the money it would cost you to buy tesla right now and i do not think the competitors will remain silent and let tesla eat their lunch. Thats not going to happen. I have somebody sitting next to me who while admitly selling out of the stock he is a believer and has been a believer in that story and he has a question for you. Again, great research. I appreciate having you on the program. As far as this particular stock, i had to sell out of it because of that vertical that you talked about where it just went parabolic, straight up. But it seems when you have this many fan boys and girls that are willing to poor money at this company and give them whatever, 325 million in tax free loans based on the preorders and so forth thats one thing that ford doesnt have and gm and all the rest dont have. If this thing did get your 20 pull back, lets call it 100. If it pulled back 100 bucks would you take a shot in this thing then or its still way overvalued by your metrics . I would not look at this name before it dropped below 180ment i dont even know if i would pay 180 for this. The vix hit 14 this week and thats a sign that the market is complacent. The market is overvalued. Theres only a few dozen names in the s p 500 right now trading below 12x and are not value traps and the market is making so many assumptions and theyre ridiculous assumptions actually and the stock is just priced for perfection and i they you saw the last time tesla tried to hit 280 in 2014 and then again last year, both times it failed and collapsed and i think there will be a lower price point for people to get in at a later date. I wouldnt chase it here. For housekeeping purchases are you short the stock . Im an independent Research Provider with no conflict of interest whatsoever. Appreciate you coming on today. Ronny we will start to you soon. Thank you so much how do you look at a stock like tesla . We track the Auto Industry for the last 50 years and i go back to the smart car and a whole bunch of cars that have come along. Elon musk is in a class by himself and its what makes entrepreneurs and what makes creators a very good class. Secondly, what ronny did is partner with the free market system should do. Allow free opinions to come out longer short the stock and its all working in the right way. The market is testing tesla. On a valuation basis for General Motors, 40 or 50 million market cap. They have one plant that they bought from them in southern california. I dont know the capacity of that. If theyre going to try to ramp up the capacity. They have to get new capacity and get new plants and its an interesting dynamic. On the other side i was almost tempted to put a deposit down of 1,000. I couldnt do that. Seriously . I couldnt do it on a boeing 787. What happens when you have to do it. Theres a lot going on. We do not own the stock. Have you ever considered putting a deposit down on the stock . No. Just wasnt on your radar . You did. Its not on my radar. A small amount of General Motors and we all own a little bit more that theyre starting to buy of race. Ferrari. We think 8,000 cars. What a unique global appetite and we Pay Attention to it. Were talking about a company that in the past has overpromised and underdelivered. And and none of the Fund Managers and this is a comp compare facebook which has a bigger market cap to disney and the stock will be a third of its price. So that is not the me trick ttr value companies. Theyre overpaying for growth and they have been doing it for four or five years now and nothing they heard just now to me is incredibly new. John raised a really interesting concept to discuss. And how do you value that in the whole equation of when youre looking at what you should pay for the stock. I dont think you can. This counts for something. This is a classic case of a Great Company and a bad stock. Now im not saying it wont go higher but if it goes higher here its mostly speculation and mostly height. If youre in the stock you can ride that further but this certainly isnt a point at which you want to enter the stock and all the old factories from gm and ford. They still have a lot of comparables to oems and ultimately thats going to play out to teslas disadvantage but the height can continue. It likely will. What a heck of a week its been for that stock. Stock of the week from last friday until today. Up about 9 or so. Heres whats coming up on the halftime report. Still ahead. Super mario unveils the places where he has seen value. Plus yahoo get ready to pony up. Find out who is likely to buy the struggling Internet Company and whether our experts think its a good trade. And. To infinity and beyond. Elon musk is launching a rocket today. Well get the latest on the billionaire race in space. Its all coming up on the halftime report. music plays from one way or another im gonna find y im gonna Getcha GetchaGetcha Getcha one way or another im gonna win ya im gonna Getcha GetchaGetcha Getcha one way or another im gonna see ya inhales cigarette and a new unit. Thats a look at tape from earlier today. It is an extremely large fire. No injuries have been reported according to Houston Police but it is said to basically be a very bad fire that probably has to burn itself out. That is sending a plume of smoke over east houston. You can see that leg down and its down about 2thirds of a percent. The fire is in the process of burning itself out. No injuries yet but it did have it did take its toll on the stock. Back to you. Amazing pictures. The bidding war for yahoo s core business is being extended. The deadline for offers will be pushed back by a week. Julia is live in los angeles with the latest details. Bids for yahoo due april 18th and a range of companies are kicking the tires and evaluating whether to put in a bid. Verizon is considered the front runner. He said in february verizon is interested. Now this reportedly sparked interest of at t, verizons rival though it is less likely to bid. Time inc is also looking at yahoo s core Internet Business and the alphabet also checked out the assets. Re code says that google is not particularly serious and says that neither soft bank nor alibaba are making bids. Now the private equity players are also looking. Its possible that we could see a partnership between a Media Company and private equity giant. The big question for all the companies is just how troubled yahoo s assets are with the stock down about 20 in the past year and profit declining as the turnaround has stalled. My sources tell me that pressure from Starboard Value is likely to drag out this process so yahoo can guarentee that it managed a full and fair sale process which is what the ceo has demanded, scott . Julia with the latest from us out of los angeles this hour. And you have a 55 price and you have taxes. So how do we do this . How do we create value and allow the surface. It was only about 10 years ago when microsoft bid and he said thats not enough and the stock is back to where it is then. So verizon should buy whatever they are doing and they have to be a creative way. They should buy the core of yahoo . Is that what youre say something. But its 6 billion and they want to buy a spin off from time warner. It will fit in nicely with that. Nothing wrong with verizon bidding on that part and to the degree that they own the piece in japan, theyll cut a deal and sort it out. Have you ever owned yahoo . Yes. We own it. Our analyst likes it. I have always stumbled with the tax structure and how they do that and part of the valuation is mark to market baba and i had issue with baba. Its the Corporate Governance issue. He does an interesting job and they have done a good job in that area. Have you had any issue with marissa . I dont know her. I have just been, you know, watching what is going on and its a company in play. And its where you have Financial Engineering that is alive and well and they have to move on. Judge, i put on a trade in here today extended a position that i have and basically i did it because they extended the bidding time. So because they did that of course that put a spike in volatility which means higher premiums. I sold the higher premiums that are the april 22nd expiration calls and i bought calls out in june. The stock stays right here more than a play that runs straight to the upside. Because i dont think so because depending on the price they get, josh called it a melted ice cube. 15 drop in what recode is predicting. A 20 drop nein earnings. This is not sum of the parts as though the parts themselves are in some kind of a stasis. Everything about where this company plays is getting worse, not better. And there was no facebook and no mobile. Now everything is mobile and all content begins and practically ends these days on facebook. Cpms are declining quarterly and the attention has shifted away from sights like yahoo indexes, search properties, directories, on to social. They have zero presence there so if youre buying this thing youre making a bet that well have this moment in media where people are going to want to read 8 ways to pot your flowers this spring. Its over. The stock is 35. Youre talk about a 6 piece of the business and you have 50 of other values and come up with a tax dynamic as opposed to a politician saying inversions are bad. The more interesting side is verizon. Maybe they buy yahoo . Maybe they dont but either way hes doing a great job of transforming this to a growing technology company. Whether its yahoo or Something Else hes going to make that transition. But that train on verizon left the station a long time ago and hes doing a good job and the wireless play exceeds what youre getting. So verizon stock at 52 we own a lot of it and its cheap and it had a great move along with some of the companies in that area. The ceo has been replaced as sumner red stones decision maker. He is the second largest shareholder behind mr. Red stone in the voting shares. Whats your view on that side of the story first. The only thing we objected to is not disclosing the health of sumner when we knew what was really going on and to the degree that you have to bring them into what josh described as the individualal age will he be able to do that. Its the same question as to who is going to replace iger. So thats a dynamic in play. It is nice to talk about. Its the air pocket are we guards to the negotiations and do they command the money that theyre getting and should they carry them all . It could be a major surprise on the upside. So you suggested the last time you were here. I dont remember that but thats okay. You suggested that you thought in your mind that he had a year to try to turn things around. Since then you resolved the issue with the background noise. You have the company anointed to be the ceo and chairman. The moving ahead and they got to do something and will do something with pair mount and get to the digital age with regards to their content so you cant get past fundamentals. Youre talk about tesla and viacom. Thats 16 billion and 4 billion and you have a limping dynamic with regards to content and distribution. Theyre working on it. Some people cant get beyond him himself. Theres a story in the wall street journal today that talks about his pay package last year. Hes the highest paid ceo, total shareholder return during that period of last year was down 42 . How do you reconcile that . I think theres an old play by shakespeare it is what it is. Theres nothing i can do about it. Look im serious though. How do you reconcile that . You cant reconcile it and look at last years dynamics and the world for Corporate Governance is changing and that will change in regards to next year. You pay for performance. Plans for the company and whether asset sales are on the table. Plus gap shares are tumbling after another drop in same store sales. Can the company turn itself around . Were going to debate whats next for that retailer as well. Who are you . Im vern, the orange money retirement rabbit from voya. Orange money represents the money you put away for retirement. Over time, your money could multiply. Hello, all of you. Get organized at voya. Com. And it shows that bill ackman. He told me that theyre only considering what each noncore asset. The definition of whats core and noncore will change. Sales in march. Down 11 last night when this news broke. And i thought they could hang their hat on. All of them are bad this quarter. And i want them to buy it. And its 2350 or so. Josh, do you own it . Yeah. I own it the analyst saying it appears online jobs posting and which i asked peak for the week and the month because i really doubt that theyre going back to a situation. And thats a great reason for me to want to buy it and not sell it. And the future of getting a job in this world relies on it and theyre making a lot of money as a result of it. So im a bear on that call. Coming up two big ideas for your portfolio. Plus we head down to cape canavral. Sor richard thaler. You are called the father of behavioral economics. Ive been called a lot of things. I have read all of your books. Did you learn anything . I learned that humans are complicated. Were emotional. Absentminded. And we make some really bad decisions. My tradeoff analytics can help Companies Make better decisions, but i am still learning what makes people tick. What makes you tick watson . Natural language processing, reasoning algorithms, statistical parsing. Now you are just showing off. Reasoning algorithms, man 1 man 2 i am. Ng. Woman exmilitary . Man 2 four tours. Woman you worked with computers . Man 2 thats classified, maam. Man 1 but youre job was Network Security . Man 2 thats classified, sir. Woman lets cut to the chase, here. Man 1 whats youre assessment of our security . Man 2 [ gasps ] porous. Woman porous . Man 2 the Old Solutions arent working. Man 2 the world has changed. Man 1 meaning . Man 2 its not just security. Its defense. Its not just security. Its defense. Bae systems. He is a 31yearold belgium criminal. A u. S. Official telling dow jones authorities believe he may be the third march brussels suspect in that airport attack. Four men who are charged with having enlisted to isis appearing in denmark. Three of the four denying the charges. The four men are all in their 20s. They were arrested in a police raid yesterday. A fire that ignited this morning at the refinery in houston has been put out. The plant refines nearly 265,000 barrels a day. A huge plume of smoke blanketed east houston. No injuries were reported. Hyundai is recalling 73,000 in the u. S. They are recalling them from the model years and the top selling vehicle in the u. S. Thats the news update at this hour. Now well go to steve. And just 0. 6 . The forecast ranged 0. 1 with some Still Holding out hope that 1. 5 . We have this number as high as 2. 3 . And down. 3 and 0. 9 . And down. 3 to 0. 1 . And moodies which does this for cnbc down. 1 to just 0. 1 so hovering at the zero even near the negative line. Another weak quarter. Scott makes me think of that song been down so long that it looks like me to up scott. Gdp expectations are going down yet evan says two hikes in 2016. Good. Kaplin sounding more hawkish. What about yellen and bernanke saying the u. S. Economy is strong. And discounting this and had this scott of weak first quarters. Its been in the data. I dont know if this is a seasonal issue or if its a real slow down issue but once again last year it was a good play to bank on the Second Quarter rebound. I dont know if this is the play this time. Hey, mario has something for you, steve. The consumer has the money. We have the jobs. What we see is an increase in the savings. Theyre not parting with it. This retail story report next wednesday is going to be a big deal. Its the report about whats happening with the same store sales. Its important to keep an eye on the consumer. Youre not going to see them and you have to have a march april number and you will look at the march numbers and get uninspiring. Some guys are saying that. What were saying is this inventory draw down now negative january and now negative february. That means that the Second Quarter can have a little more strength. You dont have to work off as much inventory here. Unless you pay closer attention to what someone like the gap is telling you. Inventories were too high. Comps were ugly and inventories were too high. Thats the key issue. It is a key issue. All i can say is when you look at the consumers they may not be the best jobs out there but there are jobs. People coming back into the work force and youre collecting paychecks and you have low prices and low gas prices. The ingredients are there but i cant seem to make tit. I dont know what theyre cooking at the fed but some people dont like the taste of it. Listen up travellers what is congress and the size of your airplane seat have in common . Stick around to find out in our worst trade plus the battle for the jewel encrusted belt of champions rolls on. A check is coming up next and look ago head to next week and take a look at the s p sector heat map. We have a deteriorating market picture. Was pretty strong. Not so much. S p still up at 6. Were back after this. Jake reese, day to feel alive jake reese, day to feel alive jake reese, day to feel alive im melissa lee, coming up at the top of the hour on power lunch, crude soaring more than 6 but whats really behind this rally. Shares of the gap taking more than 10 on weak sales. The rest of retail with it. Whats one the consumer. And why boring is the new sexy. At least in stocks. Well explain. All that and much more. Top of the hour on power lunch. Scott back over to you. Well see you in about 15 or so. Thanks so much. Heres a look at the leader board in our halftime portfolio. And in first place and right behind him there. Follow all the action. Cnbc. Com pro. Lets get two of marios best new ideas. First up, casinos. Thats what they tell me. Looking at sectors in the economy, the consumer has certain spots doing quite well. Housing i think has long legs and in some aspects of it we had steve wynn had a meeting two days ago in las vegas. Interesting comments during that meeting. They were and the stock popped to 200 and has 100 million share and whats going on and whether or not you believe the chinese are going to do to have that window surface and then what he is doing up in boston and if he can pull it off youre talking about a company that was 250 at one time and it has doubled from the bottom of 50. But when you look at the casinos look at mgm and what theyre doing and mgm has a 22 stock and it has some significant benefits in terms of Financial Engineering. Its allowing some capital move to its highest dynamic and then its another Company Called pinnacle. Pnk is the symbol. Its 36 and getting 26 back from selling their real estate to a read structure so im going to create a structure at 10 which we think has significant legs. The other part was what happened with starwoods. The Hotel Business is being bought. Why . Are they a good surrogate for inflation . Are they good surrogate for cash flow . I find one that i have certain interest in. So that is the ones in las vegas that are hotels. This is nashville. Its the hottest place in the United States since the place Everyone Wants to go. Its country and western and theres a company down there with a hotel called the gaylord and its 50 million shares of a 50 stock. 2. 5 billion. The reason im mentioning it is mgm has a casino from the companys headquaters. This one that gaylord has, the Gaylord National has 3,000. Theyre going to get a huge benefit from that. So lots of dynamics in that area. The second one, area without the casinos first. Youre in the all the stocks that you mentioned . Mgm, wynn. Pinnacle. And i bought mgm today. I owned steve. Steve has been a Creative Genius for a long period of time. And i like that because of the bottoming out of mcau and the new plants. Hes putting 4. 2 billion u. S. Dollars into a hotel that will happen in the next 90 days and building one up in boston better known as the Boston Harbor hotel and that is an underexploited market leading you to have significant increases and theres background noise with regard to the ownership of the stock. But thats showbiz. Do you buy a lot of pinnacle . You cant. Its hard. The stock has a market cap of 900 million and the spin offs so at a 9 stock theres 100 million shares. They have about a billion six and interesting cash flows. We also own Churchill Downs and thats coming up in three weeks and thats a different issue and its egaming and Online Gambling are two new dynamics that would be extraordinarily attractive in the next ten years and hopefully Madison Square gardens gets into the not gambling but Gaming Business where individuals will go and youll have the legends and playoffs and this is a great new dynamic format. Thats only one little niche of what we like. Stlost Many Companies like housing. Right. I want to talk to you about that. We were looking at msg. I was going to ask you if he should be the coach next year. Maybe well do that before the end of the show. Its not mine. Id rather have this guy that won 11 straight. Uconn. He doesnt have the triangle defense. Housing housing. What do you like . We think theres a long run way. Theres a very simple play. And as you pointed out i bought the voting stock at a discount from them. Not lower vote. Len. B has 30 million shares. They have 180 million. The voting stock sells at a 10 point discount. You have to do that because that spread will narrow. Somebody will make a proposal to the company to say lets vote on allowing you to take the voting stock and exchange it for nonvoting and if youre the owners of the business, thats not bad. Except for estate tax planning so thats an example but thats just i like everything that miller is doing down there. And i own a lot and im buying it every day. They make copper and fabricate it and it goes into industrial and it goes into housing. Great cash generator. Well run business. Doing a lot of interesting things. Stock is 28. 30 more or less and we think over the next three or four years youll have that 50 to a double in the company as they because copper when from 3. 25 to 275 to 250. Its now 2. 08 and that hurt them because it dropped so fast last year. That would be less of a challenge going forward. And we have Portfolio Managers and i run a Public Company and im one of the overpaid companies and im overworked and i intend to stay that way. Were happy. Coming up, space and the battle of the billionaires. Jane wells down in Cape Canaveral, florida with the latest from spacex. Scott it is a huge test for spacexs new rocket. Also its going to try to reland the booster at sea again and nearly a year after a rocket explosion elon musk has a very busy launch schedule ahead. Were into the final countdown. We even brauthd our own sound track. Well be right back. Great time for a shiny floor wax, no . Not if you just put the finishing touches on your latest masterpiece. Timings important. Comcast business knows that. Thats why you can schedule an installation at a time that works for you. Even late at night, or on the weekend, if thats what you need. Because you have enough to worry about. I did not see that coming. Dont deal with disruptions. Get Better Internet installed on your schedule. Comcast business. Built for business. Were back on the halftime report. The race to space heating up with elon musks spacex making the First Mission back to the International Space station since a rocket explosion last june. Musk, who we told you about earlier, with tesla, in a billionaire battle of sorts with amazons jeff bezos about the next frontier. Jane wells live down in Cape Canaveral with the latest. Hey, jane. Reporter hey, scott. You know, jeff bezos last weekend, his blue origin successfully relanded the same rocket for the third time on land. Now, musk has done this on land before from a higher altitude, but spacex is going to try to do it from sea. Not only is this the first time that spacex is flying its new and more powerful falcon i rocket to the space station, but first time it will be carrying the dragon space capsule, which is packed with all kinds of experiments including an expandible space habitat being tested by nasa and wealthy developer robert bigelow. It is way ahead of bezos here. Has a manifest of 70 trips, worth 10 billion. The time between the missions will get shorter and shorter. We hope were going to be able to launch basically every other week. By the end of this year. Reporter now, he says he hopes to quote, finally nail the sea landing today on a floating barge or drone ship they call, of course i still love you. You have to reconfigure the rocket so it can be returned to earth. You have to man it so you go out and get it. And refurbish it. Spacex said that would be maybe 30 million versus building a new rocket, which is twice that. For data point, he told me he has one right now. The cost of the floating barge which he would only say is, quote, really expensive. The launch time is 4 33 eastern and well have it live. Back to you. Jane wells, thanks so much. That underscores why the muskets really like whatever tesla is doing and musk is doing. They just whatever he was planning in california on the mass transit rail, the rocket ships, everything else, it reinforces the image. No doubt. Coming up, earnings kicking off next week, a handful of big n e names and the trades are just ahead after the break. If youre going to make a statement. Make sure its an intelligent one. The allnew audi a4, with available virtual cockpit. Perfect driving record. Perfect. No tickets. No accidents. That is until one of you clips a food truck, ruining your perfect record. Yup. Now, you would think your Insurance Company would cut you some slack, right . No. Your insurance rates go through the roof. Your perfect record doesnt get you anything. Anything. Perfect for drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. And if you do have an accident, our claim centers are available to assist you 24 7. For a free quote, call Liberty Mutual at switch to Liberty Mutual and you could save up to 509 call today at see Car Insurance in a whole new light. Liberty mutual insurance. Technology moves faster than ever. The allnew audi a4, with apple carplay integration. Want to show you the picture in crude oil now. It is a pretty one today. Up nearly 7 . Mario, when you view energy stocks, what do you see . Opportunity . Or reason to be fearful . Both. In other words, we owned equipment producers, capex by the majors and minors going from 800 billion to 400 billion. You got an air pocket. You have what happened in washington. Who knows why. With Loretta Lynch sorry, lynch the attorney general of the United States. Any event with the notion of baker hughes and halliburton. Which ones do we buy . The cash flow positive, those that will help the ducts, drill but uncap and cap wells. But when you were here last time, we talked about the russians anded saudis blifrpg g i blinking and thats the question that comes up in two weeks. Production is dropping, demand is rising, the iranians are coming on with half a million barrels. Capacity is there. And from my point of view, ill make it last, we as a country consume 20 million barrels. Price has gone from 80 to 40. Thats 40 times 200million, thats 800 million a day that the consumer is saving in one fashion or another and that hasnt worked its way through the system yet. Were looking at the users and were looking at incrementally down the road who can make money at these levels. You were talking about you mentioned the attorney general, sort of made me think, for a guy who buys stocks, thinking about possible event driven opportunities in the way that you look at certain companies, how do you feel about what is going on in d. C. , where some say goal posts are being moved in the middle of the game. Reminds me of manuela herzer, why did she really sue . It is money. In this case, it is politics. We have a referendum coming along in england on june 23rd, thats going to be of concern. And more in focus. You have tax inversions being talked about, patriotism, you know, i would like to say that what we need to do is make american businesses competitive and scale them up and be able to compete against the giants of the world that are coming and how do you do that if you handcuff them in terms of calling them unpatriotic. Change the rules, by changing the tax structure to make it competitive. Not any different than really what jamie diamond said in his letter to shareholders the other day. You if you keep sort of putting the anvil on top of the banks shoulders you make them less competitive and you dont want to look up and have that lack of competitiveness when compared to chinese institutions or other. I read two bank statements, one is m t bank, they talk about the local, regional and country banks and jammy talkjamie talki the global picture. Regulation is coming. It is a political tool. And tax inversion is just a subset of taxation which unfortunately nobody the effective tax rate versus cash is what everybody has to focus on. Were talking jpmorgan, big week next week, earnings on wednesday, as that season gets hot and heavy. Cant wait for that. Have a great weekend. Great to see you. Privilege. Pleasure. And learning about van dell. Mario gabelli. Power lunch starts now. And welcome to power lunch where we are following three big stories for you. Oil rallying. Stocks are losing a bit of steam. Meantime, shares of the gap are deep, deep in the red. Oh, hi, everybody. Tyler off today. Were glad youre here. And hope youre having a great end to your workweek. All right, let us start with oil. If youre in the oil business, or invested in oil names, does indeed look like a good end to your week because crude oil is soaring, both u. S. And internationally traded crude oil