and my question can we expect to see a leaping la zard? >> i think la zard is good.berg. he's got la zard as a big winner. going to stay. i think you're in shape. troy in illinois. troy. >> boo-yah jim, from the windy city. want to talk about one of the big disrupters last year now turning into a roller coaster in volatility, lending club. good? >> i met with the people from affirm recently. i think affirm may have a better model than lending club. i think lending club has come down enough you can speculate it but i like the other guys. how about darshell in new jersey. >> boo-yah, jim. congrats on the marriage. >> thank you. >> solar city i see that and tesla stocks, buy, sell or hold? >> in the middle. tough to big out. i like the last quarter i thought was fine. but that said i am a first solar guy. i know first solar's disappointed people but i prefer it more. eileen in florida. eileen. >> yes. hi, jim! >> eileen what's up? >> thank you for sharing your expertise with us. it's really appreciated. >> you're welcome. >> i am fromown huntington bank and planning to

>> you have a valuation disconnect between green hill andula zard.ill is trading at about 13 times forward pe and the other two are down at around 10 1/2 or 11. that's part of it. i think the other issue you have is that their ceo was perhaps a little bit too optimistic about m&a. that probably moved the stock in the wrong direction. you can be optimistic about it, but i don't know whether immediate optimistic is the right thing. you have a lot of deals out there working. there is no shortage of companies that are interested, but the problem that you have is it's difficult to get the companies to announce deals. we have financing and unemployment and gdp moving in the right direction. all of these are correlated with m&a recovery. we have valuations in the equity market that are right. we have the percent of m&a relative to the market capitalization and down at levels that we have not seen in a long time. all of the models scream that theyship come back. the issue is the uncertainty we are seeing in europe is causing a cloud. this means we have all t

la zard upgrading e inine ining. jp morgan's turkey leg goes to best buy, edging out last year's electronics winner, walmart, on science of better follow through after those door busters were over on friday. of course, it's cyber monday. internet and traditional retailers offered black friday deals online as well. online sales were up 11% on black friday to nearly $600 million. larry, the all-time one day online sales records happens usually in december. last year it was december 8th. it was nearly $900 million. that's the number to watch this year. >> all right. thank you, bertha. >>> who are the season's retail winners ands losers so far and who's expected to lead cyber monday sales? we've got a crowd to discuss this. joining us, regina lewis, consumer adviser for aol. and john aiken from the majestic research. regina, what is the percentage of cyber sales to overall retail sales? >> still less than 10%, importantly. but the folks that are getting the most bang for their advertising buck are the kohl's of the world

trying can be darn tough as you know when they are involved with a pepsi or la zard or any other names>> peltz is the real deal. >> and it's tough. and he'll continue at it until he gets what he wants. >> everybody bullish on the desk for this? >> i want o see how it unfolds but i'm not buying it up here. it's had a big move. and other teams for sale. the nets the hawks. >> sell the news today. >> these things don't happen overnight. nelson peltz yeah and his track regard speaks for itself. but these things take time. after this rub up today, be selling it. look to get back in lower if you want long-term. >> it's a sell today at this level. and i think you are going to get much better opportunities below to get this stock back. >> do you agree with your brother, doc? >> surprisingly, yes. >> yeah big shock. >> he didn't ask if you agree with me doc, she asked if you agree where your brother. >> i agree with stephen weiss and murph. >> you got to know the management is going to remain the same. there are additions to the board but even if you have slightly more attractive assets with a

bring in matthew, mcdonald's analyst at la zard capital. good to have you with us. >> thank you, carl. >> i'm hearing management implying slower growth, limited buying power yet you're maint n maintaining your buy with a 108 price target. >> i think still stands out offering you better than 10% upside. i still think it's a buy. and i don't see too much risk on the downside at these levels. i think i echoed what they said as far as they did cite cpi coming down in the at home market for food, the grocery channel is putting a little bit of a ceiling on their future price increases. and they're a little concerned about the austerity measures in countries like you just mentioned in france. >> and layer on top of that potential, and i mean potential worries about labor markets, employment in this country, which they're highly loenched to, right? >> exactly. i think you do have to consider some of those incremental costs coming on in the next few years and what that could mean to restaurants and certainly mcdonald's. >> mcdonald's has been so inn

what's the set up people are zard losing money on paper this week what do you expect from tomorrow and what shall we do. >> i want to mention apple arguably the most important stock in the market people at home own it. looking at the chart on that talking about the fundamentals in saekd 260 is a level certainly looking like we are head to and the next level below that of some sort is around 220 when the stock got to 22 times forward multiple because of services and exciting parts of the business that allowed the re-rating people were comfortable paying that. you're now looking at a stock about 17 times multiple. this is a name i think has free cash flow. look at relativeo active value within the market. s&p over triple qs if you look at the charts. >> i would mention on apple this one to me obviously massively outperformed at every sort of expectation last year didn't grow earnings sales, iphones but stot stock up 85% that one has room to thedownside. microsoft a stock which mentioned before, i want to be in names that have the massive secular shifts, tails, microsoft is one that but i

ron, we appreciate your time ron temple of la zard as set management >>> while stocks have soared to highs on wall street, it doesn't reflect the reality of pain during this pandemic. steve joins with us a closer look steve? >> yeah. john, while records are being broken on wall street, a nightmare on main street tens of thousands of small businesses are shutting doors. many permanently and the economic effects could be felt for months in the broader economy and for years to come. in data prepared for cnbc, they found small businesses with fewer than 500 employees are closing their doors at twice the rate of bigger companies 10% of the small business clients have schedule no shifts. we are told we're going to see a long slow bleed out of companies going out of business all along main street. it's going to be take 18 months for it to play out as most recessions do, this downturn is accelerating existing trends in the economy before the crisis concentration small business formation on the decline. bigger companies in the pandemic have taken the ability to adapt and use technology market

p & g, spending money on advisors, goldman, centerview,ly zard, lord, mckenzie df king on the solicitation >> that's ridiculous >> a lot of people advising them on this proxy fight. >> they could take all of those fees and save them and put this man on the board that's done more homework and i'll give you this homework to free. memo to proctor and gamble, he's cheaper and knows the space. >> yeah. >> why not have him on he's a great guy and funny he's really smart. i'm asking him in a personal plea here. >> really? >> yes >> you're getting involved in this personally >> you're like iss >> better than iss >> sent a bolt of the b29 to my dad because when that b29 came over, my father was in those ridiculous nine islands that he hit, boeing, great american company, it's time for mcneverny to say, smoke some peace pipe. >> get to comcast, verizon -- i hear you >> outlaw jesse wales. >> imus asking shannon i wish the camera could focus there. she does the gifts for twitter i mention that only because twitter is really on my mind today. >> i don't think we're going to get a shot of shannon. >> a

i'm sure if you're goldman or la sq zard, you're telling them the options, but it doesn't mean they'reoing to do it. >> i liked signify because they had 170 providers, you brought in new people. look, it was the storefront. you had people go into cvs and then people signed up for this stuff. and i'm not saying it didn't work. i'm saying that was the mandate. so let's not throw her under the m-104. >> i know that bus line. >> i always used to take the m-104. >> where were you going? >> you were not in a hurry, wherever you were going. you could walk faster. >> to see someone special who is no longer in my life. or to see several people who were special who are not in my life. >> time passes, it's true. we'll take a break here and get cramer's mad dash, countdown to the opening bell. the premarket as we get october under way. don't go anywhere. - [narrator] we just signed the lease on our third shop. my assistant went to customink.com to get new uniforms with all the locations. he found great products, uploaded new art, and had boxes sent to all the shops. custom ink makes it so easy. ge

. >> i've watched you guys become fed -- >> teach us on the moral has zard issue. >> he says it's thetea. it was the fact that they came in and backed up bear, bankrupted lehman, supported aig. he wants them to really show that the government is strong and not going to back up, especially the unsecured creditors. >> hold on. i think he made news here. >> yeah. >> he supports the sale of more than a trillion dollars worth of mortgages that they've got. he is alone in it this, i assume. >> the important aspect of that, michelle, was the support of the sequences. he wants that to be first. he has this concept of last in, first out. the last thing the fed did was buy mortgages. he thinks the first thing they ought to do is sell mortgages. he is at odds, i believe, with the mainstream of the market committee about that policy who want to push that further down. he thinks they ought to get -- now, this part of weighing of the fed that thinks it's wrong for them to hold these mortgages. they really should have never done it. and this concept of credit allocation, that the fed should go and o

andrew, shows you if has zard of trying to tell the specific story of what's driving the individual daily june 30th of last year this captures a lot of the ups and downs. obviously this is the very range we're talking about. this is the s&p. it's going to be down half of yesterday's advance. so that's down another 75 points what we have been doing is trying to see if this area, which was kind of the highest from the summer and then the lowest from the summer where friday's lows actually if you wanted to look where we bottomed out early on friday. we're trying to see if that's going to provide a little bit of a buffer right here. what really is clear is that that december, january kind of levitation, that's been wiped away now as the market is trying to find some equill librium in this range, obviously in a relative news vacuum in terms of what the fundamentals are going to look like this is an unusual aspect of the decline and rebound. if you look at a one-week basis of the s&p low volatility etf, these are stocks specifically selected to move less dramatically than the s&p itself they ac

cleveland fed president loretta mester joining us is peter orzack, the ceo of financial advisory firm la zard you >> congratulations it's the first time woe got a lot at that you about when let's talk first about the debt krelg and what you think happened here do you think this is something we can count as done for the moment in. >> i think eslk. you can't grade debt ceilings failed, it's pass-mayor. but nour in is a pass. you don't think sfshlgs would you have rather had a clean debt race in this final product we're in now >> again, this one and the clean one both in the past categories. >> nothing is in it, the covid fund or none of it is positive >> i think as you start to dig into the detail for at lease two years plus in trm being pop have not you'll will you tookd ef frchlt it may have had more complicated effects -- >> you're talking about the work requirements >> as one example. the big takeaway here -- >> they actually scored higher opinion this frnl the big take area here is they it frjs and the latest we've heard from a lot of other regional fed presidents is that they're going to

of the year, and nearly 80% of those were for companies that were based overseas, according to la zard's driving the muted action well, sources close to many prominent activists say they've been worried about a big market selloff. it's tough to sell your stock in a correction if you're agitated for changes in a company and especially if you've just won award seats at that company. so far this hunker down strategy seems to be working. activists are up more than 9%. and the environment getting long and leveraged which is the active strategy has paid off but with the recent selloff, that maybe changing, guys. >> but it looks like the outperformance is slim at best and i'm wondering if you're seeing any impact on fundraising for some of these -- some of these big-name investors who are performing okay but just okay. >> yeah, no, that's a really good question. so even though they're returning 9% in the first half of the year, that's compared to about 20% including dividends for the s&p 500. they're still returning about half the s&p and it is a direct comparable to the s&p because the strat