>> courtney gibson bought disney is that your final trade >> it is my final trade. we have $117 price target on the name now however 11 million folks for the hang high, love the name. >> josh brown? >> krocostco >> selling putts is bullish. >> have a great weekend. >> thank you >> maybe a better one now. "power" starts now >> forget the puts on pot. a multibillion dollar merger, a deal which seems to be generating as many questions as answers. we're going to talk about all of it, plus could all of this push walmart to make a splash deal of its own? it's gone deeper online. analysts say the real fight is now on outside of that president trump in miami this hour just landed and getting ready to unveil his new cuba policy.

we will carry that live for you as well. i'm brian sullivan "power lunch" kicking off right now. and welcome to "power lunch. i'm kayla tausche. at this hour stocks are mixed holding steady off the lows of the session. the nasdaq and s&p 500 both on pace for their second straight losing week. the s&p 500 hovering just about at that break even level retail names taking a hit following the amazon deal news and the dow turning positive up by about eight points. it would be high fer it weren't for walmart's drag of 25 points, down 4.5%. energy the best performing sector chevron, all leading the way today. michelle caruso-cabrera is down in miami with the president's big announcement >> hey there, kayla, yes i'm in little havana where a large concentration of cuban exiles trump and that is why president trump is coming here

to announce his new cuba policy trying to make positive on a campaign process he made he believes cuban-americans in miami were crucial to delivering florida to him we are waiting to hear what these new policies will be in his speech we've gotten some hints. slightly tougher travel for americans. prohibitions on doing business with the cuban military and security officials we'll give you details on what that means for american companies that are already operating there. guys, back to you. >> all right, michelle we look forward to that. see you in a bit we begin with the deal of the year sofar whole foods shares soaring on news amazon will buy the grocer for $13.7 billion. that works out to $42 per share and that is a 27% premium to whole foods' closing price last night. this is the biggest deal in amazon's long deal history it is expected to close in the second half of the year. now as for whole foods, it will continue to operate as a

separate brand and john mackey will remain as ceo you may recall whole foods has been under significant pressure from activist hedge funds. they've been criticizing the company for its poor performance recently and they had called on whole foods to sell itself well, they just did. whole foods today trading the a levels not seen since may of 2015 the stock is up $9 at 40 cents a share or more than 28% that is not the case with the other grocery store stocks they are all sinking on this news ostensibly concerned about amazon getting into their business, literally. kroeger, super value, they're down double digits kroeger lost 30% this week sprouts and costco down 6% even the european grocers like those big in the uk and europe are down as well let's bring in our own sara

eisen and the rest of the supermarket stocks for oppenheimer. he just raised his target toed 45dz from $40 saying that another bid cannot be ruled out. welcome. hey, do you really believe that another bidder could step in for whole foods and, if so, who? >> as i look at the whole foods value, very powerful brand i think they have a unique urban market footprint and they're catered to the hottest trends out there, natural, organic and fresh. if you're another retailer whether it's krueger or anyone who competes in the food space this is a name you want to look at to prevent the threat of amazon becoming more dominant. >> would this have happened without an activist? is this something that organically would have made sense to you >> i think without an activist, no, i don't think this would have happened. i think over the next few quarters as the plan took hold,

shares would have made it up to at least the low 40s the activists are behind the timing of the sale whole foods would probably still be an independent company. >> sara, i know you cover it closely, what do you think this means for other companies like kroeger whose stock is off significantly on the back of this news? >> boy, it is a game changer when it comes to the industry landscape. for the future of groceries, three points i would highlight in terms of the competitive threat this amazon/whole food represents, kroeger, walmart which has more than 50% of its sales coming from food, costco, target, anyone in the grocery business amazon has deep pockets which means it can lower prices on whole foods and products an industry already facing enormous price competition and we got that from the kroeger earnings report could see further lowering of profits and

even smaller profit margins. number two, that could really attract new customers to natural and organic and take them away from traditional food retail er and food companies maybe one reason why they are all trading lower today. and, number three, they could also bring whole foods in a much larger scale, prime customers, prime go, prime pantry, prime fresh. all of these outlets that could take the items across the country. the biggest wild card, guys, is how does amazon see the future of this industry is it bricks and mortar online or some sort of hybrid one thing is for sure, they've got a fertile testing ground right now buying up one of the biggest organic grocers. >> amazon is able to see around other companies. rupesh, if you're a private

equity firm look iing at the stocks today, are you interpreting this as a 10% coupon on a company you might have looked at anyway or is it toori risky where amazon might make it impossible to compete? >> i think from a private equity perspective it would be difficult to be involved you would have to lever up the balance sheet and this in turn will take some time to complete. it would be very risky for amazon it makes a ton of sense with their amazon prime now. they're clear they want to expand amazon fresh in a number of amazon markets and having whole food stores within those markets may enable them to have a better assortment and better surf those urban customers >> this came out a short while ago, i think 12:30, barclays agrees with you. they upgraded whole foods and slapped $48 target on it up from $40. they are in your camp where they see a potential new bidder

let me go back to sara's point do you think, and i don't want to put you on the spot legally, i have questions i do believe this will be looked at by regulators because of amazon prime do you think the deal could be blocked? what happens to kroeger? kroeger is down 30%. i wonder if amazon really wanted bigger distribution. they could get kroeger for about the same price, maybe more, but get six times the number of stores >> i think from a regulator perspective amazon doesn't disclose grocery sales but saw low market share i don't see grounds for stopping of competition from a kroeger perspective, to the extent that amazon comes in and drastically lowers all the prices in whole foods, that would have an impact on kroeger. they may need to be more aggressive on the pricing front. pricing is the key concern out there and that's what's driving all the grocers down

>> and just to add to your point, brian, on that barclays note, the big takeaway for me karen short, the analyst, said names like kroeger have to bid they have to figure out a way even if they don't have the cash because either they drive up the price for amazon and make it very expensive to do this deal or they take the biggest threat out of their biggest competitor. she also says that it would be kroeger's fault if amazon does get away with this deal for not moving on whole foods earlier. there has been a roomer kroeger's would make a bid they have put it in the hands of amazon by not. >> i understand why the stocks are down the markets are so low, i don't know how much lower they can drive them, number one number two, didn't amazon in some ways validate the value of grocers and brick and mortar

shouldn't there be a bid in some names because amazon just assigned a pretty good valuation to selling lettuce out after store made with concrete blocks. >> you look at whole foods 8% margins the concern is they'll bring it down to 2% to 3% and then the entire industry then could feel an impact and they may have to react the concern is that it's a race to the bottom in the grocery world of amazon or even a bigger race if amazon is now involved more aggressively in the category >> i would totally disagree. i'm not sure this is the biggest vote of confidence having the largest online retailer buying whole foods. they're getting exposure but the plan only 5% of our total groceries in this country are actually sold online many analysts and economists see that moving up it's at the intersection of trends, shopping online, on your phone, increasing convenience. if amazon can figure that out and it has a lot more power to

do so by a whole foods, then grocery shopping in this country looks different. >> i would disagree with your disagreement and say the fact they're buying a physical store is sort of -- i don't want to say it's an admission of failure but it's an admission of something. that they're becoming what they sought to kill >> or that they can acquire warehouses without having to buy the real estate themselves organically. >> they're getting data on young millennial customers that are very affluent which is pretty valuable they are getting access to the whole foods brand. >> i always hear millennials have no money. how are they shopping at whole foods? maybe that's why they have no money. suze orman's avocado toast coming back to haunt us. thank you very much. appreciate it. amazon is not the only one making moves in retail. archrival walmart making a big

move on fashion. as walmart tries to forge its own e-commerce identity. this would have been a bigger deal if amazon hadn't come out with the whole foods stuff i guarantee this would have been our a-block story. walmart is buying for $310 million. this had been rumored since recode put out the report say ing the final stages of the deal talks were in place. this is the fourth big acquisition for a retailer online only. bonobos has moved into these guide shops where you can try things on. you can't buy anything from the store but an interesting move from walmart i know there is some concern that it will hurt the bonobos buyer. some men have expressed on social immediamedia, hey, now tl mort owns bonobos i'm not interested anymore i didn't intend to have a whole closet full of bonobos clothing.

they say, hey, look, since the rumor was started andy dunn said today since the rumor began in april we haven't seen any hit to our sales. they want access to the consumers, the data. the way bonobos runs its business andy dunn is joining walmart he says, look, i'm joining because of mark laurie he has been a mentor for a while and i can learn from him >> his title will be head of exclusive consumer brands which sounds a little bit like what target did a few decades ago when it was partnering with designers to offer exclusive stuff you could only find at target . >> they want to use andy's expertise for what he understands about how to sell to that consumer online use that go data the images all of that. it's different from what you're talking about.

>> what is it going to -- i am wearing boobos pants now and am an amazon prime member what is that data going to do for them >> and we don't know exactly and walmart may not know that either $310 million is not a ton of money for walmart to try to experiment and see what kind of data they can glean from you that may be helpful down the line maybe you won't buy pants from walmart but maybe they he can figure out some other data about y you. >> walmart's buying a semiupscale men's retailer amazon is buying whole foods could any of us have predicted suddenly grocery stores and pants were the hottest marketplace in everything? >> and so i think this goes back to the point you were talking about in the prior segment about how this omni channel world is the world we all have to live. everybody that has stores has to

have a great website you have to have stores, a distribution site to pick things up, try stuff on key bank said he thinks walma walmart's purchase of jet.com is actually what caused them to look at whole foods. if they're buying a big, innovative digital player maybe we need to do more than just experiment here and there with some grocery stores and some of these bookstores we need to actually go after it and make a play for that space. >> it's a game changer courtney reagan. >> you know what's a game changer in oil everybody putting more oil rigs in the ground. jackie deangelis, looks like yet again we can't help our self drill, baby, drill >> if it's friday it is time for the oil rig number from baker hughes we did get six more oil rigs put online for 747 up 410 from a year ago and this is 22 weeks of straight increases here production is rising, probably one of the biggest thorns in e

opec's side right now. that's why oil is under $45 a barrel for the week down 2.5% michelle, i'll send it over to you in miami >> hey there, thanks very much minutes away from hearing president trump here in little havana outline his new policy towards cuba in the last five minutes the treasury released details confirming what we already know. they will make it more difficult for u.s. travelers to go to cuba with security agencies, et cetera, however, we got an important piece of clarity that is any company already doing business even if it's with the cuban military they will be grand fathered in and allowed to continue doing business. we won't see impact with the

airlines, even with marriott which is operating a hotel owned by the cuban military. when it comes to travel it is still illegal to do u.s. tourism to cuba under the embargo that is still in place. an expansive view of the licenses under which people could travel it got to the point they said individuals could self-declare that they were going on a cultural exchange and no enforcement to check to see if that was true. you can't go by yourself you have to have a tour operator or make a much more clear case whether it's for research purposes, religious purposes, et cetera

we expect to hear more what he didn't do he didn't shut down the embassies we've heard he hasn't cut back on remittances. those could have been much bigger steps back to you. >> thank you, michelle we are looking at senator marco rubio this in the leadup to the president's speech also ahead remember this, candidate trump taking aim at amazon last year on the campaign trail. >> believe me, if i become president, oh, do they have problems they're going to have such problems >> so with this latest move did amazon make it seven an even bigger potential presidential targ target we'll debate coming up

welcome back to "power lunch. i'm michelle caruso-cabrera live in little havana in miami. president trump is a few blocks away where he is set to unveil his new policy towards cuba. what you see is former governor rick scott, one of the speakers ahead of the president we have gotten details from treasury about what we are likely to hear from the president, slightly tougher travel restrictions when it comes to americans traveling to cuba, prohibitions on doing business with the cuban military however, also, if you're already doing business in cuba you are

grandfathered in according to talking points released by the treasury department just about five minutes ago what does this mean? documentary filmmaker, a journalist, not a fan of trump formerly with the state department and the sanctions division of the state department >> what wasn't announced, the measures that didn't take place. he didn't cut back on remittances, on the engagement with the embassies so basically it's a pretty sensible move. i'm not a trump supporter but it's a sensible move and i'm not so sure that the obama administration wouldn't have done the same thing given the hesitancy like human rights

>> john hughes, do you agree with that? >> i think this is not a major change at all, a fairly small few changes here and there and keeps the vast majority of obama's changes in place >> why do you think that is? >> it's clear cuba doesn't seem to be a priority for president trump. it's not something he's been focused on this is mostly a token to his base he wanted to make this as smooth as possible and not affect u.s. businesses it's unfortunate that he's targeted americans to more easily go to cuba and interact with cuban people. they are small changes that should be quite manageable

>> the changes may be small but this is definitely a different attitude toward the cuban government meaningful in some way when negotiating with them? >> absolutely. for people like me that's important. while i supported the engagement i department support the pressing or lack thereof press ing the cuban government to move on certain issues and the tonal change is important here also the announcements because now there's no speculation anyone wondering if they were grandfathered in, if you were traveling to cuba, already had a deal in place, that's grandfathered in i think they're sensible moves the cuban government now has to shuffle, right, because the military that runs -- >> these are all military government organizations >> and marriott. i think marriott, we were talking -- >> owned by the military, yes. >> they're going to have to shuffle. air bnb, the cruiseship lines

are in place and the airlines. >> do you expect any u.s. businesses to be impact ed in cuba >> air bnb, people will still be able to stay there although there will be fewer travelers. let's not forget there's still a number of opportunities, telecommunications, other areas that are open. u.s. companies can and will continue to exploit. >> we're seeing governor rick scott the is leaving and mike pence coming to the stage now. he is the last speaker before president trump so we're going to take a quick break. when we come back we'll keep talking and listen to the president. don't move

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let's go to president donald trump who is taking the stage. oh, sorry. i'm getting misdirections in my ear. so we're here in little havana waiting for president trump. here is joe cardona and john hughes before we went to break vice president trump said -- vice

president pence said welcome to history. do you agree with that is it so historic? >> this is not a historic policy shift. so i think it's marginal shifts but certainly not a historic day. >> is this something he has to say to please the base >> i agree with john on that it's a beginning and gives the president a little leeway to come back to the cubans if in a bid and say, listen, we can tighten. the cubans are struggling economically

i think raul castro, whoever takes over has to be looking and wondering what next. >> there are rumors that rule will retire. for those not steeped in cuban -- >> elections >> quote/unquote elections >> with 98%. >> not meaningful, right president trump is now entering the theater here to begin his new policy speech on his position towards cuba. let's listen >> trump trump! trump! trump!

trump trump! trump! [ cheers and applause >> thank you, everybody. thank you very much. great honor and thank you to my truly great friend vice president mike pence he's terrific. we love miami. let me start by saying that i'm glad secretary of state rex tillerson and i along with a

very talented team were able to get otto back with his parents what happened to him was a terrible thing at least the ones who love him so much can now take care of him and be with him. my dear friend steve scalise took a bullet for all of us and because of him and the tremendous pain and suffering he's now enduring and he's having a hard time, far worse than anybody thought, our country will perhaps become closer, more unified, so important. so we all owe steve a big, big thank you.

and let's keep their families and all of the victims of the congressional shooting in our hearts and prayers and it was quite a day and our police officers were incredible, weren't they they did a great job and let us all prayer for a future of peace, unity and safety for all our people. thank you. and for cuba i am so thrilled to be back here with all of my friends in little havana i love it. i love this city and one other big thank you. thank you.

this is an amazing community the cuban-american community so much love i saw that immediately thank you, darling oh, do i love you, too what you've built here, a vibrant culture, a thriving neighborhood, the spirit of adventure as a testament to what a free cuba could be and with god's help a free cuba is what soon achieve [ applause ]

>> usa usa! usa! usa! usa! usa! usa! >> and i don't even mind that it's 110 degrees up here this room is packed. it wasn't designed for this. i'd like to thank the fire department we are delighted to be joined by so many friends and lead eers of our community. i want to express our deep gratitude to a man who has become a friend of mine and i want to tell you he is one tough competitor senator marco rubio. a great guy. [ applause ]

he is tough. man. he is tough and he's good and he loves you. he loves you and i listened to another friend of mine, and i'll tell you i loved what he said and i appreciated -- mario, i appreciated what you said so much i was looking for mario. they said he was on stage. i almost dragged him off to thank him. that was great really appreciate it and i want to thank my good friend, a man of tremendous support in the state of florida for being with us, governor rick scott.

great job. he's doing a great job i hope he runs for the senate. i know i'm not supposed to say that rick, are you running? huh? mar marco, let's go. we have to get him to -- i hope he runs for the senate we're deeply honored to be joined by veterans of the bay of pigs these are great people amazing people [ applause ] i have wonderful memories from our visit during the campaign.

that was some visit. that was right before the election i guess it worked. florida as a whole supported us by tremendous margins we appreciated but including one of the big honors, the honor of getting the bay of pigs award just before the election and it's great to be gathered in a place named for a true hero of the cuban people, and you know what that means. [ applause ] i was also looking forward to welcoming today two people who are not present. jose daniel ferrara and berta solaire. both prevented from leaving cuba for this event

so we acknowledge them, they're great friends. great help and although they could not be with us we are with them 100%. we are with them finally, i want to recognize everyone in the audience who has their own painful but important story to tell about the brutal nature of the castro regime. we thank the dissidents, the exiled, and the children of operate peter pan. you know what that means and all who gather in the cafes, churches and the streets of this incredible area and city to speak the truth and to stand for justice.

and we want to thank you all for being a voice for the voiceless. there are people it's voiceless but you are ma making up the difference and we all want to thank you. this group is amazing. you are an incredible group of talented, passionate people. thank you. incredible group of people many of you witnessed terrible crimes committed in service of a depraved ideology. you saw the dreams of generations held by captives and just look at what happened and what communism has done. innocents locked in prisons and believers prosecuted for preaching the word of god. you watched the women in white bruised, bloodied and captured

on their way from mass you have heard the chilling cries of loved ones or the cracks of firing squads piercing through the ocean breeze not a good sound among those with us on stage here today imprisoned 15 years ago. [ applause ] >> she looks awfully good.

thank you, mr. vice president, thank you mr. rubio, thank you to all of you who fight no matter what the times can be for the cuban people woof we have the cuban people, inside my homeland, thank you. thank you and we share your love >> thank you thank you. [ applause ] that's pretty good she didn't know she was going to do that either, i will tell you. thank you very much.

imprisoned for 17 years. i love that name and angel, imprisoned for over 20 years thank you. thank you. very brave people. the exiles and disdants here today have witnessed communism

destroy a nation just as communism has destroyed every single nation where it has ever been tried we will not be any longer. you have seen the truth. you have spoken the truth and the truth has now called us, this group, called us to action. thank you. last year i promised to be a voice against repression in our region, remember, tremendous repression and a voice for the freedom of the cuban people you heard that pledge. you exercised the right you have to vote. you went out and voted here i am like i promised.

like i promised. [ applause ] i promise you -- i keep my promises, sometimes in politics they take a little bit longer but we get there don't we get there you'd better believe it, mike. we get there thank you. no, we keep our promise. and now that i'm your president, america, we'll stand with the cuban people in their struggle for freedom because we know it

is best for america to have freedom in our hemisphere whether in cuba or venezuela and to have a future where the people of each country can live out their own dreams [ applause ] for nearly six decades the cuban people have suffered under communist domination to this day cuba is ruled by the same people who killed tens of thousands of their own citizens who sought to spread their failed ideology throughout our fear and who once tried to host enemy nuclear weapons 90 miles from our shores.

the castro regime has shipped arms to north korea and fueled chaos in venezuela while impresideisoning innocents, hijs and terrorists it has forced labor, human trafficking and exploitation all around the globe this is the simple truth of the castro regime. my administration will not hide from it, excuse it or glamorize it and we will never, ever be blind to it. we know what's going on and we remember what happened [ applause ]

>> trump trump! trump! >> on my recent trip overseas i said the united states is adopting a principled realism rooted in our values, shared interests and common sense i said countries should take greater responsibility for creating stability in their own region it's hard to think of a policy that makes less sense than the prior administration and misguided deal with a castro regime you have to say the iran deal, too. let's not forget that beauty they made a deal that spreads violence and instability in the region and nothing they got --

think of it, nothing they got -- they fought for everything and we didn't fight hard enough. now those days are over. now we hold the cards. we now hold the cards. ease on travel and trade does not help the cuban people. [ applause ] the profit from investment and tourism flowed directly to the military the regime takes the money and owns the industry. the outcome of last administration's executive actions has been only more repression and a move to crush

the peaceful democratic movement therefore, effective immediately i am canceling the last administration's completely one-sided deal with cuba. one-sided deal with cuba [ applause ] >> i am announcing today a new policy, just as i promised during the campaign, and i will be signing that contract right at that table in just a moment

our policy will seek a much better deal for the cuban people and for the united states of america. we do not want u.s. dollars to prop up a military monopoly that ex kploits and abuses the citizens of cuba our new policy begins with strictly enforcing u.s. law. we will not lift sanctions on the cuban regime until all political prisoners are freed. freedoms of assembly and expression are respected, all political parties are legalized, and free and internationally

supervised elections are scheduled. elections. we will very strongly restrict american dollars flowing to the military, security, and intelligent services that are the core of the castro regime, they will be restricted. we will enforce the ban on tourism, we will enforce the embargo, we will take concrete steps to ensure that investments flow directly to the people so they can open private businesses and begin to build their country's great great future, a country of great potential

my action today bypasses the military and the government to help the cuban people themselves form businesses and pursue much better lives we will keep in place the safe guards to prevent cubans from risks their lives to unlawful travel to the united states. they are in such danger the way they have to come to this country and we are going to be safe guarding those people, we have to, we have no choice, we have to. and we will work for the day when a new generation of leaders brings this long rein of suffering to an end. and i do believe that end is in

the very near future we challenge cuba to come to the table with a new agreement that is in the best interest of both their people and our people and also of cuban americans. to the cuban government, i say put an end to the abuse of disdance, release the political prisoners. stop jailing innocent people, open yourselves to political and economic freedoms, return the fugitives from american justice, including the return of the cop killer, jo ann chess mard.

and finally, hand over the cuban military criminals who shot down and killed four brave members of brothers to the rescue, who were in unarmed small slow civilian planes those victims included, mario and carlos cast that we are honored to be joined by mario's parents, miriam and mario and carlos's sister mir that where are you

those are great -- those are great great parents who love their children so much what they've done is just an incredible incredible thing. what they represent, they do not die in vain, what they represent to everybody and especially to the cuban people, so your children did not die in vain, believe me [ applause ] >> so to the castro regime i repeat, the harboring of criminals and fugitives will end, you have no choice, it will

end. any changes to the relationship between the united states and cuba will depend on real progress toward these and the other goals, many of which i've described. when cuba is ready to take concrete steps, to these ends, we will be ready, willing and able to come to the table to negotiate that much-better deal for cubans, for americans, much better deal. and a deal that's fair, a deal that's fair, and a deal that makes sense. our embassy remains open in the hope that our countries can forge a much stronger and better path america believes that free independent and sovereign nations are the best vehicle for

you in happiness, for health, for education, for safety, for everything we all accept that all nations have the right to chart their own paths and i'm certainly a very big believer in that. so we will respect cuban sovereignty but we will never turn our backs on the cuban people, that will not happen over the years, a special sympt sympathy has grown between the land of the free and the people in that island so close to the shores, so deeply woe venue into the history of our region. america has rejected the cuban people's oppressors, they are rejected officially today, they are rejected and to those people, america has

become a source of strength and our flag, a symbol of hope i know that is exactly what america is to you and what it represents to you. it represents the same to me, it represents the same to all of us and that is what it was to a little boy, luis, you ever heard of luis? he became very famous, great talent, just 8 years old when fidel castro seizing power at the time, luis's father was the police chief in san te yay owe cuba -- was one of the cubans

executed by firing squad near san juan hills at the hands of castro regime. luis buried his grief in his great love of music. he began playing the violin so brilliantly and so beautifully soon the regime saw his incredible gift and wanted to use him for propaganda purposes. when he was 12 they organized a national television special and demand that he play a so low for raul castro. who, by the way is leaving now, i wonder why they sent an official to fetch luis from his home, but luis refused to go. and a few days later, castro's soldier barged into his

orchestra practice area, guns blazing. they told him to play for them terrified, luis begin to play, and the entire room was stunned by what they heard ringing out from the tremble boy's violin was a tune they all recognized this young cuban boy was playing the star spangled banner luis played the american national anthem all the way through, and when he finished, the room was dead silent when we say that america stands

as a symbol to the world, a symbol of freedom, and a symbol of hope, that is what luis meant and that is what luis displayed that day it was a big day, it was a great day, and that is what we will all remain that was a very important moment, just like this is now for cuba, a very important moment america will always stand for liberty and america will always pray and cheer for the freedom of the cuban people. now, that little boy whose story i just told you, the one who played that violin so beautifully so many years ago is

here with us today in our very very packed and extremely warm auditorium of course he is no longer a little boy, but a world renowned vile linnist and kurkt one of the great and today he will once again play his violin and fill the hearts of all who love and cherish cuba, the united states and freedom. i would like now to invite luis to the stage luis [ applause ]

♪ ♪

[ applause ] >> thank you luis. i just said so where were you more nervous today or then he said honestly, i think today. thank you luis, that was beautiful. so, i want to thank you miami, i want to thank little havana. havana we love, do we love it? would you move anywhere else you wouldn't move to palm beach would you? no, no way

little havana. and i want to thank all of our great friends here today, you've been amazing, loyal, beautiful people and i thank you actually i was telling mike, so it was two days on my birthday till a big day which turned out to be tomorrow, the 16th that was the day i came down with milan ya on the else clarity at trump tower that's tomorrow. so, it's exactly tomorrow, two years since we announced and it worked out okay, worked out okay it's a great honor, believe me it's a great honor, right.

♪ happy birthday to you >> thank you very much i just want to end by saying may god bless everyone searching for freedom. may god bless cuba may god bless the united states of america and may god bless you all. thank you. now i'm going to sign. thank you. >> so president donald trump finishing up his speech here in little havana, we got almost no details whatsoever on the new cuba policy. the one that he's just about to sign, it's officially a presidential policy directive. we got more details out of treasury than we did out of his speech still with us is jill cardona a journalist we got almost no details about

the appeal here except it's attention to reduce the am of money going to the military. however this was filled with red meat for cuban/american community? >> it was. and there was something significant for me, that's tonality the way it shifted in cuban/american policy and tradition. he's talking about what needs to happen for the cuban/american government to get a better deal from the government, to get the sanctions moved, to get movement on the embargo now we understand what the u.s. government is looking for and what the cubans need to do to have that embargo lifted >> let's underline the first point. when he refers to the depraved regime, the repressive regimes the failed ideology -- >> i don't think the obama administration referred to the

regime >> exactly president trump could have made no changes to the policy today and yet this speech would have been loved by cuban/persons just to hear him talking about the cuban government in that way >> here's what i'd point out, and yes, there was plenty of red meat for older cubans. he didn't speak much about the future and that's a concern. president obama focused on the future and i think this was greatly appreciated. this speech has little of that >> which is a great plans to turn to john hughes. mr. hughes you hear him talk being condition nalt, before we try to do a better deal with the cuban government we talent to see things change, rewant to see repression chang, free and fair elections, free and open economy, do you think this approach will actually gender changes by the cuban government >> i don't think so. i think this speech day was mostly theater

everything he's laid out has been in place 50 years it's up to our congress to lift sanctions not president trump. i think he was really just reiterating those demands, the same demand largely that president obama had pushed for, though obama i think took a different approach in how he conveyed those to the cubans i think this was a political speech with very little detail and as i said earlier the actual thanks their going to implement is very small and not nearly is what the base is hoping for. >> mr. hughes you traveled to cuba quite a few times, how do you think the cuban governments are reacting >> it's hard to say. i think it's interesting tha raul castro announced his intentions to step down in 2018. i think it shows regardless of what united states is doing cuba is moving on and continuing to open up slowly in their own way. if the u.s. wants to be part of that then i think they would welcome that but i think thai

shown for the last 60 years that, you know, u.s. pressure in the form of appear outdated embargo is not going to be the reason why they make those changes. >> joe, what do you think's going through the minds of cue behalf government? >> it's hard to predict like john said. he said i wonder why when he was referring to raul castro as if to take credit for that -- >> he always does. >> he always does. and certainly that preposterous to think that. i think cuba will note the change in tonality i think that's significant now, what does that mean in terms of their human rights, of their observance of human rights -- >> who knows gentlemen thank you for joining us joe and john hughes. guys back to you

>> michelle it's brian, i want to jump in to one of the things that trump said it might have gone unnotice. he remanded cuban return joann chess mar. she was thrown in prison in 1973 for a murder she escaped from prison in 1979 to cuba this is a name we have not heard in decades and trump is bringing up prisoner that is cuba is allowing to live in exile. i thought this was a really interesting twist because these are names we have not heard in a while. >> i'm so glad you brought that up we have not heard that name for a long time but cubans talk about it all the time. it was on my notes to bring that up her name comes up all the time they think it is horrific that she is allowed to live in exile in cuba. >> well, admissibmichelle it's

interesting some of the things the critics are pointing out are the inconsistencies in trump's policy he's taking these hard lines in cuba, he wants elections but he dust intelligence about the u.s. elections. he's taking this hard line on human rights too, but he didn't bring that up in saudi arabia. so if you're the cuban government how strictly do you believe the trump administration is going to enforce this new policy >> well, there's something extremely important and different about the cuba policy versus everything else you've said ka thatry's don't live in southern florida not a lot of iranians living in south florida. cuban exiles and cuban/americans life in florida and they are still an important voting block and they believe they helped deliver florida to him so, that is why i think you see him making this speech today

and, absolutely, talking to them so directly and in words that they appreciate. >> yeah, and with all due respect to our last gust john hughes, i'm not sure he appreciates the power of rhetoric and political theater that's half of politics is selling the message. we'll see you in a by thank you. coming up on "power lunch" we'll get back to business state side here. will amazon's big buy kick off a bunch of deals in grocery and other retailers. z es this show the brilliance of be bezos or did he buy off too much to chew. back with you in two minutes i have access to the oil markets and gold markets. okay. i'm plugged into equities- trade confirmed- and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do.

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investors are focused on one big thing in the market today. will this be a cattist for deals. let's bring in ron and also with us keith banks and luciano, with wisdom tree investments. gentlemen, welcome to all of you. ron, your thoughts on this deal today. >> i think the one part that's not necessarily being discussed as aggressively as you like this could have implications for the fed. we're seeing -- this is just another element of bringing costs down generally and amazon by making the grocery business even that much more efficient

and margins coming down that much more, it's going to be pricing pressure in this country growing forward that is going to exacerbate the plan that we see. >> luciano would you make that connection between amazon buying whole foods and the fed? >> you could see a lot more automation going forward and xing out some jobs in the supermarket chain. the take away from this investment the retailers are under tremendous pressure. to me this is another reason not to be looking at individual stocks because some of the reactions today, the super market chains and retailers were quite negative when you have the prospect of amazon coming into your space. >> i get that and the market agree 100% and all these stocks are down if amazon was so good at groceries, amazon fresh would wildly succeeded i think amazon is realizing that groceries is different than

books. the supply chain's different it's much harder do you feel luciano that the market is overestimating amazon's excellence in everything or maybe not because they seem to succeed in everything >> they certainly achieved a great deal remains to be seen. think about it in terms of technology, automation and getting rid of a potential source of some other job growth that we're seeing in the last ten years. >> whole robot market. >> yeah. it raises the question, where are the new jobs going to come from and how do you raise the median wage. that's where we have to get a dugs back on productivity growth and new job formation. >> keith, there's also a anticipation when you get -- this seems to be a unique deal and i'm wondering if you think the lack of clarity on tax reform is going to keep

corporate buyers on the sidelines because they don't know what to do with money that's in different places of the world or do you think we will start to see more deals and what that means for where we are in the market and whether evaluations are getting top pi >> i think it depends on the industry and the company companies still have a lot of cash and the ability to take on my debt. right now in a slow growth, in an economy that's going very slow nominally, more and more companies are going so to the an interorganic plus organic growth strategy they're buying companies to accelerate top-line growth that's what's missing in this economy. >> you hear a lot of buyers, ron, saying valuations are high in terms of paying these prices. >> we're going to see more secular destruction in retail than we're going to see in -- they're not buying washington.

>> not of the $14 billion tukt position >> i think you'll probably see more consolidation in retail but you'll probably see more store closures in anything else. we are overstored to the fact that amazon brings efficiency to retail you'll have to question if the not minutal course is not at the end -- >> if the deal get done. if you owned whole foods market this morning go out for dinner take your family out don't be cheap. but i want to know what makes money going forward, keith, what's your favorite sector right now? >> we still like equities -- >> all of them >> we think equities, we think about the context. we think equities will still outperform fixed income. you worry about pe punishment ls flipping around. that compares to a 2.2% yield in

the ten year, 2.2% yield on the investment bond and nothing for cash we like technology, financials one of the things that people forget or haven't thought about, the fact that the feds got a $4.5 trillion balance sheet of which $2.8 trillion is long-term treasuries, they themselves have said they compressed the long-term premium on the ten year on basis points >> luciano i'll give the final word to you what are you buying on this friday >> we think you have to get some international into the mix don't overlook international small caps in new york they're leading that recovery and we look international small caps for the year ahead >> we'll leave it there. gentlemen thanks to all of you what will americans think over all on trump's policy on

cuba plus somehow dominique choe ends up at every golf league with a short sleeved shirt dahm what are you doing there drinking what's happening >> i'm not drinking i've got no drinks in my hands i do see people drinking around here we expect 35,000 people a day here coming up on "power lunch" we'll tell you why this golf ball specifically are a big deal for the future. that's coming up on "power lunch" aft t bakerhere online u.s. equity trades...

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we're the williams family, and we're usaa members for life. welcome back to "power lunch. i'm dominique choe here at the wisconsin u.s. opening the future of golf is going to be brighter considering the crowds we got over here. titleist which is owned is far away the biggest competitor in

this game, however a lot of companies are starting to chip away at them right now first up, you got the way of kol way golf they've been growing their segment for four straight years, they're trying to improve that gain and taking market shea away from guys like title list. taylor made has sold golf concerns we spoke to the ceo about why the game of golf is so important to taylor made >> we have six at the top, 11 players in the world so that's what we're exciting about. >> now, it's also fathers' day and the u.s. open so golf balls will be a big seller dick sullivan who's the ceo of patchy fog tours super stores says golf balls are an intracat part of the sales this season. >> the items that sell is always

golf balls, probably the best gift for dad >> now, team "power lunch" i know this will be of interest to you because a former power pitch company, oncore golf a small business in new york has been making a lot of waves. this month this company will sell a lot of golf balls in june alone than they have since 2014. a great story for a small business here in america and it's featured on "power lunch" power pitch just a few years ago. great stories kayla, lot of stuff happening here at the u.s. in wisconsin >> enjoy your time there make sure you get cheese before you leave. ahead, the request for world domination, amazonuyg ol binwhe foods a cash deal. we'll does that up next.

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get to the big story of the day, amazon buying whole foods for $13.7 billion. 2 bucks a share. whole foods currently trading above that is this a good move for amazon

mark, normally you'd think of the grocery core lair for ams about the fresh net like blue aprint why does amazon want brick and mortar do you think? >> amazon's been signaling for one or two years that they're going to make big bets that you say they can, they have the cash flow to do it. going after groceries they already do it five bids a year it's kind of a natural pivot for that company if you're going to buy any particular asset, whole foods is probably the grocery store that makes for sense for amazon do nay really need to buy the physical infrastructure, that's an unknown my guess here the play isn't to change whole foods, it's probably be the same foo years from now as it is today from people walking into the store. my guess is the play that's going to be the home delivery

that's going to be accelerated on not on groceries but prepared mal male neills as well. >> if you were an competent at whole foods are you worried about lay-offs >> i don't think you should be if you look at the history of how amazon's bought companies they've really left them alone whether it was sap post or audibles back in the past or twitch they don't buy fixer uppers they look for companies that can stan on their own three to five years down the road people want to have more and more of their groceries and prepared meals sent to them at home this is where amazon steps in. this, by buying whole foods you're accelerating that they're reasonably situated across 48 states and they're going to keep them as stores and also turn them into distribution

centers for one or two hour delivery >> i'm going to take the other side of this, number one they've already got the amazing distribution network why would they need whole food to be a secondary one. number two, i get amazon is good and everything, one of the greatest companies in the history of mankind but they have not succeeded at groceries, why are you so confident that they can make this work when whole foods by selling in some ways admitting, no that they failed but their struggling and are going the sell out >> you make some great point there was some execution risk associated with this you're bringing on 60 to 70,000 employees that's pretty big. it's a 65 increase to the amazon employee base. whole foods is not a growth asset, there's no growth here and there's operational inefficiencies i think the play here is what can you create three to five

years from now in terms of delivery could thuf built that out themselves, maybe. >> i know we're running out of time, but mark how long have you been covering amazon >> since the beginning >> how long have you and i been interviewing about amazon? >> since the beginning >> one thing i've heard from your community, is that amazon's great in part because it's asset light, asset light, asset light right? >> yeah. >> now they're opening bookstores, distribution centers, buying whole foods, why is asset heavy okay when asset light was the thesis >> that's a good question. ten years ago or 5 years ago this deal would have been shocking, amazon is starting to turn a little bit. at some point if you're just going to be an online only retailer you may be limited the long-term size of your business. maybe that's the realization and

act announcement by amazon this is not an overnight change, we have been seeing this a year or two, the bookstore that i have rolling aut it's already a strengthened that's starting with amazon. >> okay we'll let you go you've got to become a grocery store analyst over night good luck. >> thanks i need it. big deals have to be approved by the government to make sure they're an anti-competitive could there be a wild card in the form of, you know, the president. trump has made it clear he is not the world's biggest fan of amazon, remember what he said during his campaign in february of last year >> i have respect for jeff bezos but he bought the "the washington post" to have political influence and i've got to tell you, we have a different country than we use to have, he owns amazon, he wants political influence so that amazon will benefit from it, that's not right.

and believe me, if i become president, oh do they have problems, they're going to have such problems. >> and that's not all, he's written more jimmy with aei is joining us jimmy back in january i wrote a piece for cnbc.com that says trump's next target in amazon because of that. also he's a retail guy, some say amazon is bad for retail bezos is in the newspaper now the post has been critical if this was any other company buying whole foods i wouldn't bat an eye but because of amazon, because of trump do you think the government will be governing this thing closely >> even beyond the tape you just ran there were other trump tapes with amazon that talked about the anti-trust issues. i think it's ari gal topic to think about. also remember the fdc currently where this would go through,

there's thee vacancies, the person that seems to be on a short list seemed to have dropped off the short list but we don't know what going to happen there they could put someone ahead of fcc to fill those slots that could be sceptical about this deal on the merits there could be something. there's also been studies that you have to seek -- by politics. you think on the merits alone they'd be so overwhelming there wouldn't be a problem. >> jimmy we don't have a data point on how this administration is coming down we still need to see the ruling on at&t and warner where they let that deal go through and also trump's doj, tooen trust fix says he's going to be tough on mergers and take a close look at mergers that are vertical, which is to say they don't maybe seem to the naked eye like they're in the same

industry but still might be anti-competitive what do you get from the administration on whether they're going to come down on anti-trust >> i think it's a huge question mark while we foxx on what the trump administration think, there are a lot of democrats who are already expressing skepticism about this deal and more broadly you have nats worried about concentration especially the big tech companies i think this is a live active issue that they can go in a number of different directions >> we'll see where it comes down jimmy, thank you >> you bet let's go to morgan >> check out session link. an employee there is filing a whistle blower complain of choosing the telecom company of overcharging customers and allegedly fired this employee after she tried to bring attention to a quote, wells fargo like scheme to charge the customers for services they

didn't need. the length is down about 6% on the headlines right now. back over to you coming up some ceos share their real feelings about president trump so far and it is not pretty plus, is retail now all about amazon or can you make money buying some other stocks that are not named amazon? "trading nation"omg cinup we created the ripple: the doughnut in a doughnut in a doughnut. right away, it was a success. i mean, it really took off. what people don't know is that it all started with points from my chase ink card. i bought the ingredients, utensils, even custom donut cutters. wow!

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welcome back to "power lunch" i'm michelle carouso-cabrera outside of miami florida. president trump just finished his speech here in this neighborhood where he talked about cuban policies we're going to talk about what his implications are good to have you here. >> god to good -- good to be he. >> the new policies makes it gi difficult to travel, what struck you about the policies that he's announced? >> i think more than anything how divorced the rhetoric we saw on the campaign trail, and even in the speech today was versus the reality what the policy is

i wouldn't call it a policy change in any way shape or form because you see much of the conditions, normalization of embassies still continue, and even the travel policy for americans. we were expecting a full scale roll back which is what president trump accompanied under in the campaign trail, didn't really see that today i think some of the changes will be well received especially by a cub cuban/american community >> a lot of red meet in that speech for the cuban community >> it's funny you ask because sometime in the past the tough talk and the rhetoric wasn't enough in the cuban community itself the scoreboard still reads cuban regime 58, united states's policy to cuba zero. they have not been able to effect what so many want which is regime change

>> so you're suggesting this may not go down well with cuban -- >> i think it'll be a certain disappointment once the euphoria of the speech rubs off the reality kicks in and people say what really changed. i think you'll see maybe some monday morning -- >> quarterbacking -- >> quarterbacking back n and some folks say well it -- this is not what we're looking for. >> thank you so much for joining us guys back to you >> thanks so much michelle down in miami coming up on closing bell don't be secretary alexander acosta live from miami amazon is a sector's biggest component and its possible for a quarter of that group's 20%

rise math may will and ted. matt does this amazon/whole foods deal have any impact on anything other than amazon and food shareholders and groshry store chains today >> i think that's really believable it. we do need to be concerned about what's going on with consumer right now just because we're starting to see weaker data. we sawthe employment data a week or so ago, that's been negative we see the atlanta fed, the gdp number estimate for the quarter is coming down again like it did for the first quarter. we see the going quarter coming down it's not just oil by the goc and industrial industry coming down. we have the s ly's running it's 50-day moving average something it's bounced off several times if it breaks below that it could be a problem i'm concernedor parts of the

groups could be under pressure going forward. >> chad let's find a way for our viewers and listeners to make some cash on their observe is there any staple stock that you like right now >> sure there's a handful. we have mcdonald's that we like, we think we can get above market returns for that staples, star bucs as well as nike it plays off the emerging consumer, emerging economies are going to be quite robust and we believe at the consumption patterns there these companies could take advantage of. we would be overweight right now consumer discretionary overall >> matt medically and chad thank you. for more head to our website, tradingnation.cncb.com what does business leaders really think of trump. did bezos make a potential

buy or a blender "power lunch" will be right back

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one that keeps you connected to what matters most. two big business stories today, amazon acquired whole foods at $13.7 billion, and a new survey of america's ceo conducted by yale showing half of them give the president and f when it comes to his job performance. let's bring in our senior associate for dean of leadership study at yale school of management and cnbc contributor. jeff said your margin is my opportunity. it's not like grocery stores have that much a margin. what do you think of this? >> no. as you know, it's a slim margin. healthier runs, it's 4% or 1.5% margin business. not a lot of efficiency to eke out here there's great advantages for whole foods, losing market

share, kroger beat them on price and organic, and the good defense monetized aol and time warner realizing they were past their peak it's good to get out the pressure there is a wonderful escape clause the greek mythology, when the hero's trapped in a corner, suddenly someone has wings to save the he owe. that's what it's doing for them. >> is it a deal that's done? a competitor bids? what will we see about whole foods ten years from now will it exist? >> it's not clear this is an antitrust hangup case. it's a $16 billion company there's a good deal of competition out there in the here and now, but there are great concerns to ask what happens later. short term, for example? great for consumers. we still have, you know, we got 460 stores, which was a

wonderful opportunity for amazon to get out of this deal, but - >> jeff, i want to -- bud dy, sorry to jump in i want to be clear, i agree with you 100%, no worries about regulators from a competitive grocery stand point. there's the german company that opened up yesterday, aldi, i'm worried about what someone might think, a, what trump might think, he's not an amazon fan necessarily, and, also, the time, legal term of the prime business to grocery. that's why i'm worried, overall online power >> no, you're right to ask the question this could have bipartisan skepticism, brian, absolutely right, but it's immediate. it's not going to trigger any immediate action myself, but i'm not an antitrust exert hard to make a case given the level of competitiveness there's an issue short term, and longer term, would devastate the competition so much this is hard

to revive it is you can take a look at what happened to cosmo, home grocer, and they were bought, and all these things had four year time span - >> a grocery graveyard perhaps >> bezos invested in cosmos. they had a significant amazon investment what he's been doing is hiring people from the failed ventures to acquire their technology and expertise to learn from failure, what went wrong. they still are persisting problem in making that last mile work and there's a gap between the high end clientele of whole foods and mass mafgt rket of amn >> the ceo survey, 20% of spots gave the president a d, 50% an f, but the business round table survey showed most optimism from ceos in years. what's the discorrect here >> great question.

there is, of course, euphoria out there. we had the question perplexed by the ceo vote versus enthusiasm for the economy. there is a trump bump. people are enthused about what trump has done, domestically and some that say there's a global spillover of this. it's self-renewing it's perplexing to academics and ceos the only thing that punctures this bubble as schuggested is growing skepticism we won't reach the hope for reform on trade fronts, on tax issues, and other regulatory reform issues if they don't happen by the midterm election, that could puncture the euphoria, where the ceos come down they are fans of trump a lot did not vote, although the group is overwhelmingly republican, they had somewhat greater favor for hillary clinton in their own election, but they were happy to see what the expectations were going to be for the administration and

disaappointme poimppointed on e. jack welsh gave him a d-minus, not the 3:00 a.m. tweets, things to fix >> unfortunately, out of time, see how much time the president has to get the agenda through. >> check, please, is next, and coming up, bill simon, a good guy to weigh in on amazon's purchase of whole foods. he dealt with them for a while that's an interview not to miss. check please, just genius insight from kayla and myself next with e*trade's powerful trading tools, right at your fingertips, you have access to in-depth analysis, level 2 data, and a team of experienced traders ready to help you if you need it. ♪ ♪ it's like having the power of a trading floor, wherever you are. it's your trade. ♪ ♪ e*trade. ♪ ♪

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check, please. >> time for check please here on "power lunch," there's a phrase that cuban-americans use down here it's called a year without a castro raul castro long said he's going to step down in february of 2018 he reiterated that today it would be the first time in 58 years that we would have a year without a castro, cuban exiles are looking forward to the day >> you know, michelle, the single best coffee in my life was in little havana my check please is the ceo, jeffrey, throwing shade at amazon, supporters, other being nice he said, only one company on earth can buy a grocery chain be

rumored to buy an enterprise software company and in both cases be lauded. >> i joked amazon has to rebrand itself as whole life because whole foods is going to stay whole foods, but amazon's just taking over everything >> it is >> let's see what regulators have to say. thanks for watching. check, please starts next. hi, everybody, welcome to the closing bell on this crazy friday i'm kelly evans. >> i'm mike santolli in for bill griffeth, who is sorry to miss today. amazon, of course, shaking up the grocery space with a purchase of whole foods, look at implications of the deal, what it means for investors and customers. >> note never been longer this morning. >> so many angles. >> back to what they were saying, never has a deal lik