Pullback in tesla stock on that noise and ready to buy more. Following bitcoins monster run, we have a special three buys and a bail edition for crypto. Thats all ahead. Right now, know, markets are seemingly moving towards the highs of the session. Its green across the screen. You can see right there, the dow up about 0. 2 of 1 . The s p 500 up almost half of 1 . And thwe have boeing and Spirit Aerosystems. There could be deal talks growing between the two. Thats where spirit shares are up north of 13 . Plus, our chart of the day. Its new York Community bank corps, ticker nycb, down about 25 again. This is the embattled new york based lender that replaced its ceo at this point. Thats where we begin. Leslie picker is here with the latest ohhen this saga. There are multiple headlines involving them today. Multiple headlines, youre right. Still losing about a quarter of its valuation. All of these just the latest salt in the wound of investors who have held onto new york Bank Community corps shares. The stock plunging at a filing revealed that management found material weaknesses in internal controls related to internal loan review. That review is not complete, meaning more problems would aice. They attribute the weakness to ineffective oversight, risk assessment, and monitoring activities. As a result, nycb needs to delay its annual report and will formulate a remediation plan. Piper sander analyst downgrading that stock, because there is concern there could be more issues coming down the pike for that company. That is now the responsibility of a new management team. The executive chairman is assuming the ceo role, and marshal lux will become the new lead director and they announced they had filled the seats of chief risk officer and chief audit executive , two critical roles that had been vacant for months. Nycy has lost more than 2 3 of market value after earnings reported at the end of january showed sizable deterioration in the companys office and multicommercial family real estate portfolio. The real importance here is to get that trust back from the investor community. So youre seeing these headlines, but based on the stock reaction, they havent done too much to move the needle. Not since the great financial crisis, risk officers have to be part of the equation. Lets bring in someone who sees red nation emerging around things like Consumer Credit risks and says that a new banking rule expected to take effect this year could help mitigate some of those risks. Joining us now is brian hughes, the former chief risk officer at discover. Brian, this is something that, again, as i pointed out since the days of the great financial crisis, banks have had to focus especially, especially laser on. What exactly, in your mind, happened with regard to oversight here and what exactly do banks like nycb do to restore that trust that leslie mentioned . Well, usually when you hear an announcement like this out of information ycb and an internal view underway, you mentioned ear earlier, you almost are always going to hear more bad news. So unwise to speculate at this time maybe what that bad news be. But when it comes to credit risks, whether youre dealing with customers of nycb or the customers that i dealt with when i was a chief risk officer at discover, usually more information is better. And thats the case with this new rule thats coming out from the cfpb regarding open banking, and that it will provide more information for lenders to be able to assess the credit risk of their consumers. Whats interesting about this, by its own admission in these regulatory filings, it was some of the lack of internal controls and risk assessments around that lending practice within the bank that has kind of led to what could be further details to emerge about whats going to happen down the line at nycb. What will these transparency proposed transparency rules do to help those lenders make better decisions about lending, and by extension, how can lenders be more trustworthy with regard to sticking to some of those rules to make sure the banks dont face this again in the future . Yeah. So what these new open banking rules will do is going to be great for banks and consumers. Because what these rules will do is it will allow banks to safely allow consumers to safely share information with banks that will allow them to make more fair and more informed underwriting decisions. And the specific information that this rule is going to call on banks to share, and we expect the rule to be finalized sometime this year, and basically think about the information you as a consumer get on your Checking Account or on your credit card. All that information thats in those monthly statements. In addition to the information that they might send you around the terms and conditions. This will be information that youll be able to safety and securely share with other companies and by doing so, i can see three benefits that will occur for consumers. One, it will be easier to switch banks, if you want to, because youll be able to take your information with you. That will make banks work harder to keep your business. Two, it will be easier to be approved for a credit card or a loan, because this information thats in your account, it has to do with your actual income and expenses. Its information thats not currently in the Credit Bureau reports, which a lot of banks use to underwrite consumers. So we call it orthago. Third, its going to make it easier to manage your money, because these regulations will enable this data sharing and a new wave of Money Management services to come out to help consumers manage their money. So it will help consumers and help lenders by allowing them to make more informed decisions. Leslie, its interesting, because the way brian phrases it, it almost sounds like the common app. You have this battery of information that just follows you around and it allows you to have a more seamless transition between institutions. This is a different set of problems that nycb is facing than just a year ago, when it was a Balance Sheet issue across a number of different banks because of a rise in Interest Rates that make collateral worth less, and all of a sudden things started to boil over. This doesnt seem like it could be a contagion type effect, unless its symptomatic. Right or wrong . Last years issues stemmed from the historic rise in Interest Rates. So think of 2023 Regional Bank turmoil as being purely related to Interest Rates. This year, its more about credit quality. So youve got these loan books. You have a lot of exposure to commercial real estate. They have lived in a world where valuations are going down, Interest Rates have remained high. Their ability to service that debt becomes much more stressed if youre a land lord or you own an office property. Therefore, investor attention and analyst attention has turned towards credit quality. Thats a big unknown there. It has less to do with this rising tide of Interest Rates, which could affect banks differently, but theyre all facing the broad macro experience, and more to do with the kinds of loans were you making, and did those turn out to be prudent decisions . Thats the real question of 2024 so far. Thats an interesting point with regard to the shifting risks out there. I would like to also pivot now, brian, to Something Else from a risk perspective that could be at least affecting a larger part of the u. S. Population, and thats the pending deal that we have on the books for capital one bank, which is a very big credit card lender, to go and buy smaller fellow bank discover, but also payments. I wonder if you could take us through the quote unquote risks for not just the banks themselves but the system and consumers overall if a deal like this were to go through. Yeah. So i think a deal like this goes through, youve got two very strong banks here. Capital one and discover, strong, innovative, proconsumer banks that are coming together. I think that, you know, the resulting products will still be very beneficial for consumers. They are both main stream consumer banks, credit cards, auto loans and the like. Those offerings i see them as still being strong and better. The big thing that might happen here, and i think it was highlighted on the investor call last week is what could happen with the discover network, which today is sort of in fourth place of networks, visa and mastercard being very big, discover sort of the fourth network. I think the scale at capital one could bring to that could make that network a much more viable competitor to visa and mastercard. Thats the value that capital one sees in the deal, a and that could be the value to consumers, as well, to have another competitor in there and of course, the Merchant Community also is sort of desiring for another competitor in there, and sort of the battle over that and the like continues. So i think when itcomes to the consumer side, you know, two strong ones coming together. On the Payments Network side, kind of an interesting effect with the ability to build down the discover network. What do you make of the timing of this deal, given where we are with consumer dleen again sis and the like . Delinquencies and the like . The timing is favorable. A year ago at this time, we were saying oh, here comes the recession now. All these rate hikes and the economic cycles going to turn. Now were starting to see a soft landing take shape. You know, sort of too early to declare it. But i think the signs are there of a soft landing taking shape in terms of the resilience of the job market. Consumer delinquencies for credit, yes, theyre up versus a year ago. But over the longer run averages, you know, still in a pretty favorable place. And consumer Balance Sheets are still better than they were precovid. Theres a little bit of that covid savings this there, and a strong job market. So some of the dark clouds over the Economic Future that were here maybe at this time last year dissipated a little bit. And certainly for consumer lending, that makes things a lot better, both capital one and discover are a bit cyclical as they go up and down with the economy. So i would say a more favorable time for the outlook forl both of them. Brian hughes, thank you very much for the insight. And to our own leslie picker, as well. Now to our other top story today. Its teslas ceo elon musk suing openai and its ceo for breach of contract. Musk, who helped found the chatgbt maker, said they broke an agreement to develop ai for the benefit of humanity by focusing now on profits. So will this lawsuit be another distraction for tesla and its ceo . Our next guest recently increased her position in tesla, and says there may be an initial knee jerk reaction to the news, but she would add more tesla stock on any bit of weakness. Joining me now with that view is nancy tangler. Thank you very much here for joining us with this. Lets talk first about whats happening now with teslas ceo. Elon musk already a billionaire. I dont know how many times over at this point. Is this just another distraction with openai and this lawsuit . I think it is, dom. I think the market will quickly turn to other issues. The thought the more Important News was the announcement that they are adding incentives in china to lower prices and increase demand. But his distractions would probably put most of us, you know, under the table. But he just moves on. I was at the makeup factory thanks to the folks at rbc, and there is a lot of promising stuff going on at that company. What is the promising stuff . And we already know that youre bullish and long in the stock and you have a vested interest in this stock going higher. But what makes you that much more bullish . What did you see that made you feel like this is something that you want to keep on accumulating . Well, so the manufacturer makes Battery Storage, basically utility grade Battery Storage. So these big walls of batteries that will really change the way that electric utilities operate and should reduce outages, as well as all the forest fires that weve been seeing over the years. In the master plan three presentation that tesla made a year ago, they estimated that Battery Storage could account for 5 of total fossil fuel reduction. Thats versus 21 for the car. Add to that, they only have a 15 market share, but they have a cost advantage of about 30 due to their vertical integration efforts and cost reductions, obviously. This is now the fastest growing, most profitable business at tesla, and some estimate will be worth 1. 5 times worth the car business in the not too distant future. Thats a huge thesis for the bull side of things. One of the reasons for the downside are the concerns about china. Hyper competitive market out there right now. We have a lot of price wars if you want to call them going on, and a slowing ev demand picture here in america. How does all that counter out, and maybe the price does reflect why those issues have become more front and center. Yeah. Its a real concern. We initiated our position during the last distraction, which was the x acquisition. We bought it last january at 105 a share. That was a shortlived distraction. So what you have to Pay Attention to with this company, where is the Technology Going and where are they going to see the growth . This they can grow this business half as fast as they think they can, it will solve so many problems with renewables and usage of renewables on a 24hour per day schedule. So i and they are monetizing it to a great degree. Its a nascent industry. So thats where investors are missing some of the focus, and theyre reacting to the headlines around the slowing ev demand around the globe. I just leased an ev in the uk and it was a nightmare trying to find a charging station, not being familiar with the territory. So theyre not for everyone. But people want to buy teslas more than evs. Nancy, before we let you go, you manage all kinds of other investments besides tess Law Enforcement we just had a huge segment facing nycb and the Regional Banking sector. Do you think Regional Banks are still attractive right now or are you reducing . We are reducing. Theres just better places to be. I dont think theres necessarily going to be a crisis throughout the industry, but i think theres better places to invest, particularly in financials. We added a position in brookfield management, private credit seems to have a lot more flexibility. We increased our exposure to american express. I dont think you have to own regionals to participate in the financial sector. Nancy, thank you very much. Coming up on the show, if youre another if youre a driver with a need for speed, you may want to resent one of their products here. Well talk to the ceo of a Transportation Safety tech company that missed on the bottom line but gave stronger than expected guidance. Its all about mobility and the need some people have for speed. Shares are up about 5 . Plus, bitcoin blowing past 60,000, inching closer to an alltime high. But if you missed the boat on bitcoin, can you still get in on that trade . We have a special crypto edition of three buys and a bail coming up. The exchange is back after this. You got this. Lets go. Gobble gobble. Ive seen bigger legs on a turkey rude. Who are you . Im an investor in a fund that helps advance innovative sports tech like this Smart Fitness mirror. Im also mr. Leg day. 1989 anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq100 innovations. I go through a lot of pants. Before investing carefully read and consider Fund Investment objectives, risks, charges, expenses and more in prospectus at invesco. Com. Rylee from rylees realty hi this listing sounds incredible. Lets check it out. Says here it gets plenty of light. And this must be the ocean view . Of aruba . Huh. This listing is misleading. Well, when at t says we give businesses get our best deal, on the iphone 15 pro made with titanium. We mean it. Amazing. All my agents want it. Says here. inviting pool. Come on over too inviting. Only at t gives businesses our best deals on any iphone. Get iphone 15 pro on us. welcome back to the exchange. Smart Transportation Company verra mobility was the mystery chart we showed you. Slight miss for the quarter on the bottom line. The Company Makes the hardware and software for things like traffic and speed cameras. The strobe lights and stop lines, and a whole lot more, as well. Joining us now for more in an exclusive interview is david roberts, the president and ceo. David, thank you very much for being here. I know that there are a lot of drivers out there who may bemoan some of your products, but theyre out there for a reason, and municipalities across the country have adopted them. Take us through what exactly Smart Mobility is and why youre so optimistic about the coming months and quarters. Yeah, of course. First of all, thanks for having me. Smart mobility refers to a category of Technology Solutions that make transportation safer and easier for customers. Customers can be municipalities, commercial fleets and even universities and municipalities around parking solutions. What youre seeing is the technology is really starting to enable better decisions, better capabilities that have measurable impact and make things safer inside of cities. You referenced some of our cameras earlier. We see 30 reductions in accidents and speed overall per intersection where those cameras exist, and thats better for reducing fatalities and accidents. We talk about Mobility Solutions in the context of our current time. People drift toward things like artificial intelligence, autonomous driving, that sort of thing. Is there something that you guys are doing