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dolly parton is an american icon and she's a friend of conagra. we started our partnership with dolly and duncan hines and bake mix. we loved what we saw. we extended that relationship with dolly to broader food. we're introducing the dolly line-up into our frozen business this year with some great dessert products and down home southern cooking. we know people love dolly and we're going to ex-manned the line-up. >> someone said to me you know what, why doesn't someone come in and say we're rolling back our prices 25% and we're just going to crush everybody, kind of a marlboro friday. you and i have been around for a long time. we know there was a consumer product company not so great tobacco that cut prices and really did kind of annihilate everybody, they came out ahead. is it ever worth it to just have a meeting where you say we should roll back everything 25% and say listen, we're the hero for this country? >> yeah, i don't think that's a great move because number one, i don't think it's necessary. consumers are stretched but they are adapting

i have conagra. yields 5%.hey have to get to the bottom of what's going on at the supermarket because the super market is the battleground for the presidency. don't forget there is an economic issue not just kind of a -- i don't want to use the word. but there's an economic issues in the battleground to the supermarket and who's trying to hold the line. costco, i know it's down. it's important to see who is raising prices and whose prices are coming down. >> important day. see you tonight. "mad money" at 6:00 p.m. eastern. >> i'll be in brazil for sao paulo. >> you should go. >> i'll go to brazil instead of philadelphia. use david's jet. >> that's where the white space is, jim. brainard with the reaction to the inflation data as the small caps up almost 2.25%. . >>> good thursday morning. welcome to another hour of "squawk on the street." i'm sara eisen with carl quintanilla and david faber, live as always from post nine of the new york stock exchange. take a look at stocks kind of tentative rally here. we lost

conagra missing the sales for the fourth time in five quarters.he company lowering fiscal year earnings guidance as consumer adjust to higher prices. joining me is scott muskin. good morning to both of you. great to have you here. >> good morning. >> we are getting the data out about retail sales the same time we have the prime day sale. it is a record year. that's very interesting. at the same time, you say the discounts are deeper than last year, especially for consumers. last year, discounts were about 12%. this year, they are 20%. what does that tell you about sales being up and discounts deeper? >> the numbers we saw from adobe is what i have seen across promotions are tame in what is essentials. essentials is having more of a discount from last year. target and walmart are bringing that in. where hei see the deeper discous are home goods and garden. that needs to have the promotions. >> you say people aren't buying that. scott, i want to come over to you. pepsi. we're talking about potato chips and soda. i'm not saying they're essentials, bu

conagra is struggling along with the rest of the at-home food industry as price-conscious consumers look cheaper alternatives. the stock getting cheaper right now, down 1.5%. pfizer shares packing on a couple of pounds after the drugmaker said it will advance its development of its once-daily version of its weight loss pill following encouraging early stage trial data. pfizer says it will test the once a day bill in modified release form but also a twice a day version, and this'll all come to pass during the second half of this year. shares are up about 1 percent. costco fall being after announcing -- falling after announcing its first price increase in membership fees since 2017. the membership-based warehouse club is hiking fees in the u.s. and canada by $5 and raising the cost of its higher-tier membership by $10. ever core raised its price target on the stock to $920 from $890 per share thinking more money will come in, but we shall see if customers still pony up the extra money. shares, down to $8449.007. -- 849.007. lucid is powering higher by 9.5% after the company said saudi arab

conagra missing and projecting lower profit, as weak demand continues to weigh on sales. stocks in the red so far this year. what do these stocks have in common? people don't want to pay high prices anymore. they can't raise prices anymore. volumes are coming down, tim. there's a push-back, across income levels, according to pepsi, too. it's not just low end. >> yeah. no, i -- there's just -- i don't eat fritos right now. and i do think you have a case where at some point things get interesting. the valuation has come down substantially, but they also, cpg and certain parts of the snack space were also in that sweet spot that discretionary was during covid. and you saw pepsi believe with that pricing power. they were almost boasting their ability to pass on prices. at this point, i think they have multiple quarters of headwinds on that. so, i think you're going to get lower. if you look at a five-year chart, you start to assess some of those trends. ultimately, assess the valuation from where we were on a p pre-covid base sis and i think you can trade down one or two turn

pepsi, conagra.ys. >> get on with it, that's the message to chairman powell and the federal reserve as they get together to consider reducing interest rates. most people assume they will execute that call later on this year perhaps even september. the scores look like this. welcome to the program. equity futures on the s&p 500 just about positive. the move like yesterday was an small caps once again this morning it's in small caps. the bond market yields much lower across the curve through yesterday's session. a little bit higher on the 10 year maturity off by a single basis point. the lineup for the outlook ahead of us looks like this. they will be joining us as stocks snapped their longest winning streak since november. charles myers of sigma global advisors -- signum global advisors. amid growing bets on his september rate cut. we begin with our top story, the s&p 500 seven-day winning streak coming to an end as big tech tumbles, of the most since 2022. raising the s&p 500 year-end target to 5800

stuart: conagra having a very bad time. lauren: this is their worst day in two years and slower demand for products and staples at the grocery store and they say the annual sales were there and expected to rise and could fall and fall as much as 1.5%. stuart: okay. show me costco, please. on the screen. lauren: i don't get it. stuart: why is it down when they're increasing membership? lauren: it's their first increase to the fees since 2017. seven years ago and it goes to $65 and increase of $5. i thought costco had pricing power. they're valued to so many people. jeffries thinks the stock is going to $1,050 and costco makes almost no money on the product that it sells so if you're increasing the fee, that can boost your earnings per share by about 3% this year and next year. isn't that good news? stuart: makes sense but a general selloff going on. lauren: buying opportunity for costco maybe? stuart: maybe. maybe one day i'll buy that thing i shop at all the time and i've never bought and gone straight up. maybe one day i'l

. >> that's why you said to be wary of pepsi conagra tomorrow. >> i do think it's glp-1.here's nothing but ads from companies i've never heard of who have glp-1. they can get them because of an fda exception because you can't get enough lilly product. so, i don't want those stocks. i just don't want a company -- you know, i think conagra is a great company, and they did a lot of froezen food, and it's that cold aisle, you know, open it up, and you try to open the second one and it won't work. >> yes, jim. we've all -- i actually have been to the supermarket. yes, i experienced that. >> they doubled down on an aisle, which was great, but the aisle that you need to be in, david, is the datacenter aisle, which is why i like the honeywell deal this morning. >> buying the lng business from air products. >> i'm waiting for what tom jordan from coterra, which i think is the best nat gas company, said would happen, which is that one of these hyperscalers -- i call them tech titans -- not the record company that john coltrane was on. >> great philadelphian. >> yes. what's there fo

look no further than pepsico and conagra.e're seeing the impact of disinflation start to hit earnings. how big of a risk is this, especially given the fact that investors have very high expectations for this season? >> that's a great point. and expectations are pretty high across the board. there's not one spot where it's necessarily outrageous. this is why i don't want to be chasing small caps here. we saw in the last nfid report on small businesses the company's plans to raise prices are fade. that's probably because they can't raise prices anymore. if you can't raise prices and you have sticky labor conditions rngs you're going to have to lay off more and more people. i think what we're setting up for is we've seen a pop in multiples for small caps. they're not cheap, trading at 16 times earnings. they were cheap a year ago in october of 2022. what we're going to see is reality hit. you're going to see stocks that have just seen expansion, rates are down, inflation coming down. inflation coming down is a pricing point of -

conagra is down 3% -- lauren: they make slim jim. sales fell.price of food at the grocery store. stuart: i was looking at delta airlines, they were way the -- way downing i should say -- [laughter] lauren: we're so casual on this show. stuart: record travel, busy airports. what's going on many? lauren: it just doesn't make sense. they missed in the quarter and they cut going forward. they're warning of lower profits because they had to discount some airfare, they had to pay higher costs for labor and higher fuel bills. if you add that all in, and what do you have? the paris olympics. you would think that's a draw, but a lot of people say i don't want to deal with the crowds, and they're not bucking those -- booking those transatlantic flights because of it. stuart: what have you got, adam? >> i am long the stock, but here's what's going on. there is 4 too much capacity -- 4% too much capacity. that's why they've actually the lowered airfares for four months in a row. the irony, stuart, is this past sunday there were more than 3 million people tr

until 2016, it with australia division of conagra.ince the spin-off, it's done very, very well. from late 2016 through late last year, the stock rallied nearly 300%. ♪ hallelujah ♪ now suddenly it's become one of the worst stocks in the market. >> that was easy. >> it now looks like a smarter company even thought about the spin-off. with that decline, we have to ask what the heck is going on? technically, the trouble started when lamb weston reported a year ago, july of '23. there was nothing really wrong with the numbers, the stock didn't seem to care. in fact, it kept sliding for the following months, call it late july to mid-october 2023 as part of the broader beatdown in the food stocks created by the additional glp-1 scare, the weight loss drugs. the first move is everyone was terrified of new weight loss drugs. they reduce craving for junk food and it brought down practically everything. it can even do this. it can make it so you don't want these. it was -- it was indiscriminate, but at least when it comes to lamb weston, the ri

to get your thoughts says, the answers immunity is the entitlement to not to have to answer for his conagraresidents cannot be indicted based on conduct for which they are immune from prosecution. putting a whole bunch of evidence outside of the purview , which is over and above the prosecutorial immunity. >> this is not something everyone that was legitimate on the table. jack smith address the issue of evidence in his reply brief prior to or garments with the last two pages but even if you grant some immunity, here are things you should not do. you should not take evidence of official acts off the table. yet, they did so anyway. in f but note they say, something that is a matter of public record, the fact of taking an official act can still come into evidence. testimony are private records of a present with respect to those official acts, those are off limits. they never explain what is meant by a public record? are tweets of public record? in a separate portion they talk about the fact that the bucket of allegations about the president's behavior on january 6th are primarily about his sp

. >> conagra on the same day. >> jim, how about tonight?mine whether nike will go up or down. nothing to do with my bet with david and starbucks. i'm going to tell it as it is. >> nike on the brain. >> remember john -- >> we got to know john when he was at ebay. >> excellent relationship. >> let's see if it survives tonight's piece. >> oh, boy. >> that does not sound good. >> john is good. there are a lot of things that aren't at the company. >> tune in, man. jim takes apart nike tonight. >> i'm not taking it apart. >> no, i'm not. you don't take it apart at 175, you take it apart at 150. i have 120. in the back i have 95. that's what's going on there. >> the auction eyre. >> you bet you. dow up 200. stay with us. . >>> good monday morning. welcome to another hour of "squawk on the street." i'm sara eisen with carl quintanilla and david faber, back together again, at post nine of the new york stock exchange. take a look at stocks starting strong, at least if you look at the s&p. about 0.2% higher. led by, guess what, technology stocks. nvid

. >> that's what we heard from pepsi yesterday and conagra.s talking about, for instance, across incomes, consumers are just, you know, becoming more thoughtful, getting more thoughtful about how they spend and that sounds like what you're talking about here. as we, though, see the unemployment rate start to tick higher, how do you think about this moderation and how quickly this moderation could accelerate? >> there is no question, melissa, that the growth we have seen for the past 40 consecutive months, 48 consecutive months now, since we came out of the pandemic induced recession has been driven by healthy employment and healthy wage gains. and we're seeing both of those moderate, though i think on the employment side the moderation and the slight uptick in the unemployment rate has more to do with entrance into the workforce than because of layoffs, and it is taking a bit longer for people to become attached to the workforce. the jolts numbers are still pretty good. so, i don't think there is a lot of concern there. wages are slowing, but

pepsi, delta and conagra which is the grant -- brand that has slim jim and or full redenbacher and other you this is just a marginal story or a true concern about consumer appetite willingness to keep spending. brent: i think it's huge. if you see consumers they are hurting a little bit especially lower income levels where those aren't levels that exceed the past two recession spread i think you're seeing it there and marching compression because they can't risk prices as much. at the same time compensation is still elevated. it's come down when chair powell talks about but it's still not where it needs to be for inflation to be sustainably at 2% and that's where the issue is on both of those metrics and that's where markets are in for a bit of an awakening in the next couple of months. lisa: you wrote their hopes baked into equity markets that need to pull back before we get interested in large caps again speaking to some of the over enthusiasm you are seeing in markets. can you quantify that and give us a sense of how much of a pullback and where you would need to see it to once again