Maria welcome back. Good tuesday morning. Thanks for joining us. Im maria bartiromo. It is tuesday, may 7 it is 8 00 a. M. On the east coast, we are coming live this morning from Milken Institute global conference here in los angeles. Top story of the morning israeli officials confirm theyve taken over hamas controlled areas of the rafah region launching a ground counterterrorism operation yesterday. They are saying hamas is far from meeting demands potential ceasefire agreement President Biden expected to address the rise in antisemitism in keynote address at u. S. Holocaust Memorial Museum remembrance celebration the president has not said much about any of this white house says will not meet with antiisrael protesters on campuses not get involved with antiisrael encampment at George Washington university miles away from white house. Congressman said the president should will be out visiting the encampments the protesters amid protesters there is any plan for him to get out there tal
Cycle. It is the goodwrench time, where the brown sheets that we were looking for, turn into the compost. This actually ends up being good news. We actually start cutting rates. Sooner than expected it still hurts. The house of pain. That is why i want to walk you through the house of pain that you are going to experience. Watch mad money. I know you do. We can provide you with some novocain and anesthesia. We have updates on the today show where the p. O. W. Gained 15. 1 . That is a dip in 1 as well. You need to expect a vicious interday selloff, like we had today. The fifthplace coit. We await the next move. The commerce is working and running out of gas. At least in the short term. Very Good Companies will be left behind taking the stark stone. One of the single best performing stocks, one we have been learning for a long time. This is incredible. Seven years now. They just built one in brooklyn. They dropped the bomb on shareholders today. They sent the stock down 19 . This is a ma
On the east coast. Were coming to you from the Milken Institute global conference in los angeles. Its time for the hot topic of the hour. Former President Trumps so called you hush money trial is resuming this morning. Heres President Trump yesterday. This is just a political witch hunt. Its election interfering. This is really, truly election interference and its a disgrace. The other thing that maybe is even more disgraceful is the gag order where i cant basically i have to watch every word i tell you people. You ask me a simple question, i cant talk about it. Because this judge has given me a gag order and says youll go to jail if you violate it. And frankly, you know what, our constitution is much more important than jail. Its not even close. Maria oh, my god. This is incredible. The witness yesterday said that trump did not personally direct a Trump Organization executive to set up reimbursement payments to ex lawyer michael cohen. I want to get your take on this. At the same time
Turn it off, please. Lets see what happened here this weekend. This is the first time this meeting took place without Charlie Munger being here. Before Warren Buffett took to the stage, this was a stage where there was a lot of emotion that came into this here with a standing ovation for charlie at the top. Roll that back down, please. A standing ovation for charlie right at the top of the meeting after a movie that played a halfhour movie, that played his highlights over the years and funny skits they had done and a standing ovation from 40,000 people who were here at the Convention Center. Pretty emotional day. Warren buffett made news. It came out when the companys 10 q hit. People were looking to see it and it trimmed stake in apple by 13 in the quarter. It sold about 116 million shares. A lot of questions as to why and what it means. Apple is still, by far, the largest stock in its portfolio. It makes up 40 of the overall portfolio. Buffett said he was selling because he wanted to
Trim apple and sold off paramount at a loss. Speaking of paramount, the company is, or its special committee is opening up negotiations with sony and apollo. Theyre also talking with skydance as well about their bid for the overall company. From here at the Milken Institute global conference in los angeles, the next two hours, were going to be joined by marc rowan, David Solomon, and darren woods. So, nice lineup ahead, guys. Lets begin, david, with buffett and apple after that stocks friday rally. Berkshire says it did trim its stake by about 13 to just over 135 billion in q1. Didnt stop buffett from praising apple at the meeting over the weekend. Take a listen. At the end of the year, i would think it extremely likely that apple is the largest common Stock Holding we have now. When we look at cocacola and American Express and apple, we look at them as businesses. Now, theres differences in tax factors, managerial responsibilities, all sorts of things, but in terms of pulling your mon