s] (♪♪) [garage door opening] (♪♪) [inaudible chatter] [card reader chimes] (♪♪) (♪♪) only at vanguard you're more than just an investor you're an owner. that means your priorities are ours too. our retirement tools and advice can help you leave a legacy for the ones you love. that's the value of ownership. ♪ so soon. welcome to "power lunch" alongside kelly evans, i'm dominic chu. did christmas come early for the markets? the three major averages all up big in november.

is this going to be the best it's going to get? or are things really this good? there's all kinds of questions in play. plus, shein files for an ipo. valued at $60 billion or more. we'll talk about what the company is doing right and what people think about it in china. >> which may be not much. let's first check on the markets. this is usually dom's job, but correct me if i'm wrong, dow is up 54, off session highs but better than what we were in the red this morning. head wind from the week seven-year auction last hour. nasdaq holding to 3-point gain. today nvidia and amazon announcing they're expanding their partnership to work on new chips. of course, coming after microsoft announced its own custom chip. shares of microsoft in the green any way. and boeing shares rise today as rbc upgrades the stock to outperform. deutsche and goldman upgraded

them the last couple weeks. boeing is up 20% in november so far. let's get back to the setup for the broader market now and on that note, we bring in michael santoli down at the new york stock exchange. mike, still feels like this kind of year-end hopeum is in tact. >> yeah, no doubt we bought ourself dip buying potential if we get a pull back into year end. we have been hesitating, kelly. i would say for more than a week around this 45, 50 level of the s&p but before that and three weeks prior you're up 10%. little fatigue in the market. got pretty dovish interpretation of that fed governor waller speech earlier. that was mostly in the market that the fed's next move is likely a cut. but i do think that gives some relief on yields. just wonder how much more you can get out of that in very short term because we have been operating for weeks under the premises of we're well past peak yield, peak inflation and peak

oil. yields down. oil, other commodities like gold up and the dollar off a little bit. so, i think we're kind of, you know, just sort of circling around the edges of this rally. to me, the big take away going into next year is what waller said and the main message has been the fed snot looking to really undercut this economy and bring it to a screeching halt. but we just don't know if the economy on its own will be slowing more than desired. so that keeps us in this late cycle psychology and probably perhaps prevents the market from really getting escape velocity in the broad list of stocks. >> there's the setup. mike santoli, please stick around because we want to look at what cfos are saying in economy in the right now. it's our survey of the cnbc cfo council 50. 50% said they expect the u.s. economy to enter recession some time next year. 60% think the fed has done a good or excellent job of fighting inflation. to that point, 93% of respondents say that inflation

has actually peaked. they're declaring victory. joining us now to break this all down is brian jacobson, the chief economist with annex wealth management and mike santoli will stick around. brian, you heard the setup from mike about what we are kind of seeing what the machinations are, at least in recent times. do you feel as though we can declare victory over inflation? history is riddled, markets or otherwise, with people who have come early to that conclusion. >> yeah. thanks for having me. i do think we can declare victory over inflation, but there are going to be costs to that, as far as what's the collateral damage. and based upon the cnbc cfo survey i find it encouraging that a lot of cfos seem to be anticipating we're going to get a recession. it means they haven't overinvested in speculative technology, equipment, they probably aren't overstaffed. i think that was also one of the great insights that i got from reading through the survey

results is that it's a little bit easier to find people to qualified individuals to fill these positions. so, we are probably past peak fed, peak oil, maybe even peak earnings for now. maybe get a little bit of a dip, but perhaps if there is that recession that the cfos are fearing that it won't be nearly as bad as what a lot of people are expecting that it could be, mainly because they haven't really overinvested. there aren't a lot of excesses that need to be flushed from the system. >> brian, there have been a lot of folks who have been calling for a recession for quite some time now. the better part of maybe 2.5 years. we did get one during the pandemic that was brought upon ourselves. we kind of caused it. did you think, though, that a recession happened any time over the course of the last 12 to 15 months? there are those who believe we already had one and that it's all clear now given the fact that the economy has been reset? >> yeah. so here at annex we have been talking a lot about the idea of that roving recession. and i do think that the data

bears that out. if you look at historical episodes, based upon the national bureau of economic research, the business cycle dating committee, the criteria they use, we didn't have a recession. maybe back in october of 2022, we did have a brief one where a lot of those indicators were negative except for payroll growth. but, i don't know, we have had a recession with housing, with manufacturing, capital spending plans seem to be very muted. so maybe we did have a recession there. on the service side of the economy, that's where it was just roaring ahead. it wasn't as though that area, though, was completely thawed from the freezing during covid. and i think that's one of the key things that service sector activity continued to thaw even as the other parts of the economy were in recessionary territories. keep in mind, quarter on quarter basis we did have earnings recessions. we had a couple of them over the last 12 months. and so you know, maybe we'll get a triple dip recession soon here. and that could cause a little

pull back. >> a lot of things about this have been more drawn out and more pronounced than usual unlike the past not showing up at all. i want to point brian's point, mike and ask you about it. valuations can't save you from beta. most of the cheapest markets are beta, small kaps and emerging markets. if we get a selloff, that won't be a cushion, it will just get cheaper. that has the conundrum for investors trying to find value. >> no doubt about it. you can mick what to complain about, the market breath is awful or has been with a handful of stocks providing most of the index upside. but the kmeep side, complaint is those seven stocks are too expensive are pretty cyclical and will behave that way. that's why i'm weary of the idea, well, if we get a recession, technically maybe it will be mild and maybe the rest of the stocks outside of tech have already looked through that. historically you don't see that behavior where the market in a clear way looks over the valley. something like that. there's a sense out there, maybe from the cfos as well as

investors has been for a while, bring the kids to the chickenpox party, get them sick and in the clear after that. i don't think that's how it works. usually something significant usually goes wrong unexpectedly to actually get a vegs and then you can't count on it being too mild. so for now, i think you can kind of say, great, economic resilience is something we can celebrate without expecting it to last forever. >> speaking of expectations, mike brings up a great point about the unknown factor there, brian. i'm looking right now at this volatility index, measure some people use to gauge how much of a roller coaster ride we're expecting to see. it is languishing below 13. it has been pretty much in a downward trend for quite some time now. that would arguably lead to complacency. do you believe the market is as complacent as the stock market volatility measures would dictate? >> not necessarily. mainly because the vix seems to be more of a coincidence indicator as far as just how are people feeling now when you see the market hitting new highs,

the vix is usually hitting new lows. so me, it really just represents, hey, maybe protection is cheap. right? as far as any opportunities, as far as any put options, things like that. that's one of the things that we're talking to clients about, specially coaching them through this holiday season as they're looking ahead to 2024 and election year, anticipating volatility. well, if that's something that keeps you up at night, maybe there's something that we can do especially through the use of cheap protection in order to kind of carry you through this what could be a choppy season. so i don't think it's necessarily complacency, but maybe just an opportunity. >> all right. brian jacobson, annex wealth, thank you very much. of course our own mike santoli, thank you very much as well. and let's continue the discussion now about the state of the economy and what it means for markets. rick santelli is live in chicago where bonds just won't play along, rick. >> no. not only that, obviously you're discussing the vix index. i'm on the cboe floor. look at the intraday of seven.

when a seven year auction as we discussed last hour moves markets you know you need to pay attention. you look, it wasn't only 7s, 2, 7s, 10s. everything on the curve moved and if you look at the fact it doesn't change that 7s, 10s, 20s and 30s will close at the lowest yields since the second or third week in september. now, let's go find a trader these things merit some in-depth discussion. good to see you here. before we get into anything, i just heard dom talking to a guest about vix being awfully low considering all the variables going on. your thoughts on that? >> it's not just macro that matters. the flows matter. right? here we are at a seasonally bullish time. at the end of the year when the market is up 20%, there's a ton of reinvestment of collateral coming in jan 1. the biggest explorations in option land, also december, end of the year and january in

single stock. all of that skew as it decays through all of the holidays where nothing is going on is a buy back delta, all those flows are just too much relative to everything else. that said, you have macro flows from bond yields, from treasury issuance that are going the other way. this push and pull mack roerks and flows, what does that cause? exactly what you're seeing today. markets nowhere and what does that mean to volatility, it's a sin. >> follow the money. follow the flows. all right. now you're mostly a volatility trader, you pay attention to equiti equities. what do you think when we see auctions moving the entire financial complex? >> look, the reality is when there's no liquidity, volume is low and you're issuing, you know, a trillion dollars of debt, right? and that's a direct bottom line to supply and demand. the market is a voting machine at the end of the day. that supply is an overhang. at some point these flows seasonably die and what happens? you have an overhang of macro flows.

so that's an important thing to watch. it's just timing it right and watching these issuance has they come through. >> cem, you always have a good macro view of things. now, we have a cfo survey at cnbc, it's world renown and many guests were discussing it today. 50% see recession. we don't have a problem with that, do we? okay. the third variable was, inflation is peak 93%. i can somewhat buy into that. might have peaked but certainly i don't think is going down to 2%ish. what do you think? >> yeah. i think there's a cyclical inflation and sector. cyclically things are slowing down. yes. if you look under the hood, secular inflation, because of deglobalization, all the labor issues we're seeing as well, the change in populism from where we were three years ago is dramatic. and that is a dramatic difference is secular inflation. >> i like the fact you brought up globalization in reverse. many think that's a horrible thing. i personally think it's a wonderful thing. i think we should make your

insulin here, our drugs here and if prices are higher, so be it. the last few seconds we have, 60% of the cfos believe the fed has done a great job in fighting inflation. i'll give you my answer, then you can give the world your answer. i think they might have done a pretty good job fighting it, but i think it's gone down regardless of them and i think that if you look at the plane that seeded the field of inflation, it was the federal reserve keeping rates too low for too long. real quickly. ten seconds your thought. >> the fed drove populism which ultimately now has to be reversed. right? we have inequality, that reversal is ultimately very inflationary and that's what we're going through right now. >> cem, thank you. kelly and the gang, back to you. >> cem and rick, thank you very much. coming up, a trip to the mall is next in our look at the er retail ecosystem. wildly successful businessman spending billions on a side project and being accused of rung it into the ground. we're not talking about elon

musk. we'll examine david tepers rocky tenure as panthers owner coming up on "power lunch."

first time i connected with kim, she told me that her husband had passed. and that he took care of all of the internet connected devices in the home. i told her, “i'm here to take care of you.” connecting with kim... made me reconnect with my mom. it's very important to keep loved ones close. we know that creating memories with loved ones brings so much joy to your life. a family trip to the team usa training facility. i don't know how to thank you. i'm here to thank you. welcome back. 121 million people shopped in stores over thanksgiving weekend. that's according to national retail federation. and our next guest says this demand paired with low supply

will keep retail rates strong in the face of the continued growth of e-commerce. joining us now is alexander, managing director at piper sandler. alexander, great to have you with us. and it's pretty shocking how quickly cyber monday has become bigger than black friday. but, why hasn't there been more of a head wind for mall and ret performance? >> well, first, thanks for having me on, kelly and dominic. you know, when you look at the malls and look at retail, think about santa, right? whatever religion you are, everyone grew up visiting santa. here at piper sandler, we look at the state of retail and think about e commerce and the physical stores, people want to celebrate the holidays. they go to the stores. think about christmas story, that classic, iconic movie, they go to higgins in the downtown. whether you shop online, you still have the desire to go out and shop physically.

that's the benefit of the malls and shopping centers. we saw that in covid where people realized that you can't get everything online. you need to go to the physical stores and the retailers themselves real estate that the ultimate synergy is balancing ecom with physical footprint. >> simons up 3% year to date, kimco is down 10%, krg is slightly negative. frt down 7%. what is that all about? >> so, there are a few things going on. one, last year was such an exceptional year for the -- especially for the shopping centers because they benefitted from a lot of catch-up rents they got didn't pay during covid and 0 credit loss. so last year was an extraordinary year. this year there's been a little bit of head wind, one, from not getting those catch-up rents to rising interest rates. so that's been a bit of a head wind. when you look at what the retail rates have been saying, we just came back from the semiannual conference in l.a., the rents are going up. tenants realize that there's a

dirth of availability, anchor spaces, big spots, 97% plus occupancy. when you look at small shop, 90% plus. these are numbers that we haven't had and also keep in mind, once the housing bust happened back in '08, all retail construction basically stopped. so we haven't had anything new for about 15 years. in addition, toys r us, sears, jcpenney, they have been washed through the system and right sized. you're a target. you're tj, you're, you know, lululemon, you're apple, your choices are actually not that plentiful. and therefore, landlords are gaining the upper hand and that's why you're seeing rent growth in a way that retail landlords haven't experienced in decades. >> alexander, it's dom. is there a difference between a traditional footprint mall, right, the free standing kind of

sprawling building with the parking lots all around it, and then taking a look at, say, the strip mall, right, where there's an anchor store, outdoor focussed and whatnot, do you think there's a trend developing where the demand is at? is it in those strip malls? is it more in those traditional malls? i see some traditional malls and see a lot of empty store front. i don't see as many of those in strip malls? >> well, i'm in a hazard to guess you haven't been in roosevelt field inning on island, a simon property. stores are packed and any vacancy you see is likely to be a step over the next coming months. when you look at, let's say, kite, you know, down at south lake town square down in dallas, it's a dominant shopping center. it will incorporate tenants who you traditionally find at malls but also incorporates the traditional weekly errand-type tenant. when you look at kimco outside of philly, they ere-imagined

that asset to both still be a traditional shopping center but also become more of an expeer yen shall and federal, that's some of their classic assets. santana row out in northern california, san jose, it is truly sort of an urban planner's dream in combining hotel, residential, condos, office, retail, restaurants and what it does just like simon does with roosevelt field, creates a nexus and creates activity. where you don't want to be is retail that lost its edge and no longer relevant to the customer. once you lose your relevancy, it's really tough to bring it back and that's the key part about retail. the dominant centers are getting more dominant and the weaker ones are dying off. and it's really hard to change the dynamic. but that's why the rates are benefitting because overall they tend to own the better assets. >> we'll lee it there. alexander, thank you so much for your time today. we appreciate it. >> thank you. >> i'll try to go see santa this weekend but i think it's in our

downtown. >> the local mall near me is not as packed i would just say. >> no? up in your neck of the woods. >> stanford town center. >> yes, but they added the paddle courts. >> yes, they did. thank you very much, alexander. further ahead on the show, it's been around a year since the ceos return to disney, the stock held up relatively well, he had his share of black eyes fighting with desantis, pelts, cable companies. how is he holding up in the eyes of shareholders? plus, growing criticism around carolina panthers owner and hedge fund titan david tepper following the fire of his head coach, frank wright. 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”.

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you can spend less time searching and more time learning. trade brilliantly with schwab. welcome back. it's time for our power check. on the positive side today, mining this as gold prices trade around a six-month high. shares are jumping 6%. on the flip side, micron moving lower after the memory chip maker raised guidance but still expects a loss on earnings per share. positive sales outlook is good news but investors want to see profitability and that has mu trading lower today for your power check. let's get over to bertha coombs for a cnbc news update. the israeli military says

that based on information from the red cross, 12 hostages just released by hamas are on their way to israeli territory. the latest group of hostages is reported to include ten israelis and two foreign nationals. the first u.s. government aid flight for gaza is scheduled to arrive in egypt today. that's according to senior administration officials who tell nbc news that once the flights land, the humanitarian aid will be transferred to the u.n., which will deliver it to gaza. it's said to be the first of three planned u.s. flights. pope francis just cancelled his trip to dubai for the u.n. climate summit this week. vatican said in a statement that the 86-year-old pontiff is making the decision on doctor's orders. pope francis cancelled several appointments lately because of lung inflammation and the flu. dom, back over to you. >> bertha coombs, thank you very much for the news headlines.

ahead on "power lunch," the markets sheiny new. up for a ipo but concerns remain around long-standing issues with climate impact allegations and forced labor. we'll break down both of those in today's "techcheck" coming up after this. how's the chicken? the prawns are delicious. oh, i have a shellfish allergy. one prawn. very good. did i say chicken wrong? tired of people not listening to what you want? it's truffle season! ah that's okay... never enough truffles. how much are they? it's a lot. oh okay - i'm good, that - it's like a priceless piece of art. enjoy. or when they sell you what they want? yeah. the more we understand you, the better we can help you. that's what u.s. bank is for.

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welcome back to "power lunch." shares of pinduoduo's parent company is up after strong results. they own the e-commerce site temu coming after rival shein files to go public. let's bring in eunice yoon on set to break it all down. but we'll start with deirdre bosa for more on what pinduoduo means for shein. it's all interconnected, right?

>> it could be. if you think that sheinis using similar strategies as pinduo duo, that would be good if you want to invest in shein. it filed confidentially for an ipo. we don't get any information until it flips that f1 and make its public, but we know a lot about temu and parent company pinduoduo. it's operated on this business model of steep, steep discounts, subsidized all the products so that you loop in or you capture the american consumer. and you might think, how do you ever turn that into a profitable business? pinduoduo has done that. for the first nine months of the year it booked some $5 billion in profits and shows you that there is a path to profitability for these huge e-commerce platforms that operate on heavy, heavy discounts. so, if shein is doing a similar thing and similar model, you could see that maybe it is leading to a profitable

business. >> deirdre, could i follow up with that. temu is like shein but it's different, right? a shein is fashion. it's pretty much clothing and wardrobe and attire. but temu is like the next iteration of some of the apps we have seen for several years in america, that give you access to ultra inexpensive goods that are coming directly from china. i remember wish was on my phone far portion back in the day. >> yes. >> what exactly then -- what can you actually draw similarities wise between what's happening with temu and how can you translate that into what's happening with fast fashion with she? ? >> great point. temu is ultra low cost amazon. you have all these different merchants that list their goods. temu helps offer these steep discounts and that's how shein operates as well. super low priced goods. you think the company themselves are helping to subsidize the products whether that be clothing or gadgets on temu,

that's where you could see the similarity. and the idea of going from heavy losses to profitability, bernstein estimates that in china, pinduoduo went from negative 100 margin to positive 60% margin by drawing in the consumer with discounts and then slowly over time increasing the price a little bit, taking away the discounts once the user is locked in. >> so, eunice, interesting question here is what is the presence -- by the way,i've heard that these companies are bigger than h&m, bigger than zara. how big are they in china? >> they're not big. nobody knows. nobody uses them. they don't use temu. they don't use shein. but shein does -- both have good reputations among sellers. so, in a way that sellers see it as an avenue to selling to the u.s. market. >> what is the deal with the

region that -- what is the situation in terms of both companies supply chain and how is it perceived in china? >> well, perceived in china people don't talk about it. but in terms of the way it could impact shein and the ipo, i think u.s. investors would want to look at the model for shein versus a lot of other traditional manufacturers and traditional players because they have this -- what's known as this small batch model. >> yes. >> which is really interesting because they basically will say to factories, we have this batch of items that somebody in the u.s. wants made, and then you know, would you be interested in making it? and these factories will bid for it, they'll make it. and then they do it in these small batches. and so, of course, the upside of that is that you could have realtime engagement with your own customers. there's not as much wastage -- >> lower inventory cost. that's a big reason they can

keep prices low. >> but the downside of that is that it is almost impossible to be able to police all of those factories. so, one of the ways that traditional manufacturers said they have been able to really try to be compliant with the very rigorous u.s. retailers and standards in the u.s. is by knowing their factories, knowing who all the suppliers are, having maybe 25 of them that they're constantly looking at because what i've been told time and time again is that you can demand that these factories comply. and they will sign a pledge and do whatever it you need but they can't enforce it. the more factories you have and the more you're not familiar with your supply chain, the bigger the risk is that there is either problematic -- >> it's an excellent point, by the way, because the more this ipo becomes imminent, the more

lawmakers, bipartisan lawmakers here in the united states are going to want assurances about the supply chain, about the fact that they have to not only know your customer, kyc, but know your supply chain kysc, how can they do that and how heavily scrutinized without the chinese government look at that because of its relationship with the u.s. market? >> one, when you're talking about the politics and u.s. politicians they have been talking a lot about this -- about the way that shein has been able to send these small batches in packages to the u.s. because it's under the u.s. customs thresholds of $800 or less per consignee. so part of that is that you don't actually have to file paperwork to u.s. customs. even if you want to look at what is the company's corporate structure, who are these people? there's a lot of details in the customs information and they

don't have to do that. so it just becomes -- i just feel like there's not a whole lot of transparency and that's something that u.s. investors would want. >> what we learned from tiktok is it's popular enough with consumers they will probably leave it alone at the end of the day. we'll leave it there for now. thank you, eunice yoon. coming up, disney holding its town hall. the stock is up 8% this year despite on going proxy fights and uncertainty around the future of tv. we'll lay out what's on the docket for shareholders next with the sredo 2has wn% today. don't go anywhere.

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welcome back. disney holding a town hall with employees this afternoon. why? let's bring in julia boorstin for details what we heard coming out of that meeting. j julia? >> kelly, one year after bob iger held a town hall about his return to disney at ceo, he took the stage today and the stock moved lower because he reportedly played down the sale of disney's linnier assets. he said no decisions have been made. but, in iger's comments, he was very much focussed on the future

of disney and its brands, saying, quote, i feel like we've just emerged from a period of a lot of fixing to one of building again. and i can tell you building is a lot more fun than fixing. now, the first half of this hour-long town hall was abc anchor david muir interviewing iger solo. he was then joined on stage for the second half by disney's entertainment chiefs, espn head and disney's parks chief. they started off with espn and the focus on building it into a digital sports platform. they talked about potential strategic partnerships for espn, including leagues or tech companies, though they said they could go it alone. they talked about focussing on profitability for disney streaming business and excitement about integrating hulu in. iger talked about the importance of improving the quality of the film studios. film certainly under scrutiny after several disappoints.

finally the park's business, which iger doubled down on with a $60 billion investment over the next ten years. now, nelson potential activist move did not come up in this town hall, which several people described to me as very raw raw. iger talked a lot about his optimism and his also his faith and confidence in disney's family of brands. kelly? >> but that's interesting what he down played about the tv channels themselves. i wonder why? >> well, here is the thing, kelly. you have to remember that in iger's interview with me after disney's earnings, he clarified things back in his interview with david faber in july, he said everything is on the table. we're looking at potentially selling our linear networks. then in his interview with me, earlier in november, he said, look, in reviewing these linear assets, we're seeing a lot more value and opportunity in keeping them than maybe we originally realized. so it sounds like what he said in this town hall, sort of echos a lot of what he said in his interview with us just a couple

weeks ago. and i think what he is trying to say here, just because they were considering everything, he didn't expect everyone to write articles and follow on those comments and say everything is for sale but rather that they're just trying to be really thoughtful about how they manage these assets. >> we had bitters. we heard about -- byron allen and a couple names who said, yeah, we'll take them. we'll leave it there. thank you for that update. that's why disney shares are moving lower. our julia boorstin. coming up on the show, we'll break down some names that outperformed the market in november. and are exceeding the average analyst price targets overall. that's in today's three-stock 'rba itwmite wee ckn o nus.

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welcome back. time for today's three-stock lunch. we have three stocks selected from our cnbc stock screener which looked for names that outperformed in november and now exceeded the average analyst price target. could they be set for a pull back or not? joining us with our trade is victoria green, chief investment officer, also a cnbc contributor. i like the setup here. i'm curious to hear your takes, victoria. we'll start with chipotle. >> absolutely. stick with the power of the

burrito. they're executing so well. one of the only quick service that are increasing comps, increasing traffic and growing their footprint. they're expected to grow by 285 to 315 stores next year so they continue to expand and they're continuing to protect margin by increasing prices. but it's also how they engage their consumers. they get 36% of their revenue from digital sales now. so you got the chipotle and drive-thru now, order on digital and go in the store and have it to eat or go or get it delivered. they just made it so easy to get a tasty burrito. >> now they need a breakfast burrito. >> i would love that. up next, victoria, netflix, shares up 16% this month. how would you trade netflix? this has been obviously a hot stock over at least the medium term? >> look, netflix is still a buy for me even at these levels because they're growing their subscriber base so well. they well outpaced expectations in q3, added 9 million new subscribers and said they expect the same in q4 and just

increased prices. more paying subscribers, higher revenue, content continues to be great because we're all watching this old stuff like "suits" streamed over a billion hours globally and that's not anything new. netflix has just managed this very, very well. their password crackdown has been a light touch. can drive more and more people with paid subscriptions versus free loading. great strategy to grow revenue. >> you're sticking with the momentum that november is displaying. does that extend to clorox, little different story but been outperforming, up 22% this month. >> i can't. talk to me about this october 31st, it was a steal around 115. it's rallied so much off those lows up almost 25, 26% and they're talking about the fact that the cybersecurity is still affecting them, still working on building up inventory. expected to fall in 2024. so for me i look at the stock and say it's trading near where it was pre-cyberattack.

not quite 150 but in the mid 140s. i don't think it's worth that with declining sales this year and there's no guarantee that they're going to get their shelf space back and not going to be a little bit of fits and starts. as their ceo pointed out, may not be a linear recovery. it's not guaranteed they'll build back the sales they lost during the cyberattack. not at this point. if you owned it, might be a great time to take profits. >> doubling down. i love it. victoria, thank you very much. we appreciate your time today. victoria greene. he's been a huge success in the world of investing. but david teper is finding out sports is a full-contact business. 'vgomo oth sry coming up. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley.

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and infrastructure with lenovo thinkpads and powerful edge to cloud solutions, delivering faster insights and increased performance, giving them the scale to stay ready for whatever's next. make amazing happen. lenovo and cdw. welcome back, everybody. eight minutes left in the show, but we have some surprises for you so stay tuned as we get through several more stories have to talk about today. starting with amazon, they always tout the record breaking cyber monday. >> every year. >> our else sales are declining. the largest, interesting thing is that cyber monday surpassed black friday in sales this year according to adobe shoppers spent $10.4 billion, that's a 10% increase. >> this is huge because what it surprised me about is that even with inflation because these

retail numbers are nominal, right? they charge more for goods because the goods should go up in value and people should spend more is that the consumer apparently has the propensity to spend and/or the balance sheet. >> i think they are discount driven and excited to order their air fryer and get a deal. >> interesting for me, though. i did black friday shopping and i did not do cybershoping to see if there's any last-minute stuff. >> will be starting that, and i'll join you. >> britain's national grid will pay some households to use less electricity on wednesday night this after forecasts show they expected supply margins to be fi tighter than normal. it does not mean electricity supplies are at risk. this seems like a very -- i don't know, panicky is not the right word, but it seems like an extreme measure to ask a country

to ration electricity and listen, if the grid is generally becoming more fragile in the countries because of the intermittensy issues you're not going to be left with a choice. it's a preview of what more is to come. >> i think our household tries to be conscious of those things and we run the dish washer overnight during non-peak use hours, but it's eerily different if i was asked to just not use power. >> if you paid for it and middle people would get a rebate and for some households that's a powerful inis noh tiff. mark cuban plans to leave "shark tank." he wants to spend a couple of summers with their kids before they go off on their own. >> i get that. my kids are 6 and 3, and i totally get that. >> would you be a shark on

"shark tank". >> i think i could do it for a guest gig. >> 15 years is a long time to do it. >> we'll end with billionaire investor and carolina owners david tepper firing frank wright. it's the third time temper has fired a coach in the middle of the season since buying the team for an nfl record of $2.2 billion in 2018. this morning tepper holding a news conference to address the situation. >> all those decisions, you know, whether it was head coach or bryce, i don't want vote on those decisions until the last piece, okay? so those decisions are made by -- in the case -- by the football people. now, look, everything that's right and everything that's wrong here ultimately is my fault, okay? i have the final say. >> all right. here with more on tepper's tenure and what's next is peter king, nfl columnist with nbc

sports. peter, according to what you've heard is tepper that, quote, unquote, meddlesome owner that some in media that some in media are portraying him out to be? >> well, when he just put his sixth head coach in the chair in the last 48 months. i never thought that i would see an owner in the nfl who could out steinbrenner steinbrenner, but david tepper has done it. he's fired three coaches in mid-season in the last 48 months and you know, what's amazing about tepper, grew up in pittsburgh or he's from pittsburgh, he owned 5% of the steelers for nine years before he bought the panthers. the steelers have had three coaches in the last 54 years. that is what football is about. get a good coach, be stable and

go through the hard times and withstand the hard times. david tepper clearly doesn't understand that. >> i don't know that much about sport, but didn't steinbrenner do pretty well with the yankees all those years? >> of course. that's why with steinbrenner at least he won championships. the only thing that david tepper has won right now really is the first pick in the draft, and what good is that? he's already traded it off so he can't get, you know, a lot of help for his organization. >> peter, david terp has been quoted as saying that he does want to find the next head coach and he wants it to be someone who can be there for 30 or 40 years. he said, jokingly, i'm assuming that he wants him to speak at the eulogy at his funeral at one point. what exactly does he have to do is find that coach, then that could be there for decades? >> first of all, that is a ridiculous statement because

every owner wants his coach to last 20 years, but you have to have a little bit of patience so that that coach can survive the first few years and bumps in the road. what he has to do to get that coach who will last that long, to me right now is get lucky because what coach in his right mind is going to want to work for david tepper? any other job right now. i don't care where it is. any other job is more desirable than the carolina panthers. >> peter, how would you put his -- he's not the only person who has moved from finance or wall street into sports ownership. it's a huge and growing trend. how would you say the performance has been overall? >> daniel snyder was the worst and now he's gone, but david tepper is trying to get in lockstep with dan snyder, and it's -- it's, really, i feel for

the people of charlotte and the carolinas. they were so -- they were so -- they wanted to change this team, to fix this team and what they've gotten really is a clown show. >> peter, you brought up dan snyder and that's the opposite side of the spectrum that you say you want to be. some would say an owner, general manager like jerry jones has been relatively successful during his time owning an nfl franchise and what exactly does david tepper need to learn from someone like jerry jones to move in that direction as opposed to going the dan snyder route? >> you have to get the coach who you have very much confidence in and then you've got to withstand bad times. jimmy johnson was 1 in 15 in his first year with jerry jones, but jones hung in there and he fired him too soon, but you have to

give people time to fail and david tepper just has not done that. >> all right. peter king with nbc sports, football morning in america columnist, thank you very much. we appreciate it. >> one thing i know is no one wants to take over a football team and have to deal with this, so it will be interesting what his next move. >> a harvard business case study. >> thanks for watching "power lunch." >> "closing bell" starts right now. >> thanks. welcome to "closing bell." i'm scott wapner from post 9 at the new york stock exchange. a big question about stocks, how far with can the runway for the rally go? just to the end of the year as some are suggesting or can it go much further? we'll ask our experts this hour including pimco's erin browne who unveils her 2024 playbook in just moments and in the meantime the scorecard with 60 minutes to go in regulation looks like that and it's mixed and not as good as it was and the most active part of the day was just before lunch and that's when the fed's chris waller