i'm excited about tjx. i'm tampering expectations i have a call today with club members. it's a great opportunity. it can't go up immediately you think it would after its competitor dumps a lot of stuff to them, too. >> i always think it's worth mentioning, tjx is far larger than target market cap, 90 billion to 75 billion. it's a bigger company, tjx than people perhaps realize the profile relatively low. >> you know why? they're the least promotional. you never hear them other than the conference call. the conference call is very tight. do they do themselves a disservice look at the numbers is what they say. look at the numbers. the numbers aren't good. short term i understand now, i was puzzled about how they could not be a huge winner they will be a winner. right now the liquidation sucks oxygen out of the market according to bernstein i hate that term. >> you don't want oxygen being sucked out of anything. >> no. >> keep the oxygen >> it's toto. >> what? >> turn off the oxygen toto. >> overall, jim, we had about 60 earnings this morning. eps beat rates about 87. that'

you mentioned tjx, they're a leader if you have consumers looking to spend less on items, tjx is whereto go. when you combine that with a balance sheet that has growing revenues, growing earnings, good cash flow, then that's a name you can add to your portfolio. you have the same thing with lowes. before we would have held home depot. we thought they had better management they were doing better in stores lowes is doing well. with housing turning around, we have strong housing numbers. you have the do it yourself people going in there and they're building their pro business it's a name you can put in your portfolio and build on and the consumer is going to shop there. >> i'm looking at other cross holdings and your personal holdings, it tilts defensively mcdonald's is in there chipotle is in there kroger it seems like you're on that theme of consumer spending. >> we think we'll get a recession later this year. we think as the -- we think there will be a .25% basis hike next week. even with the labor market strong and wages growing, the consumer is going to get crunched they're going to

we are going down the scale when it comes to consumers are spending a name like tjx.rkets. you want the cyclical exposure we are doing it with a tjx which is where we think consumers are heading. similar to the mcdonald's story you were talking about earlier we think there is opportunity there. we still like the energy space marathon petroleum is a name we added to recently. just trying to get some of that not just refinrefining, but transportation component as well we feel that is a good name. we like the healthcare look. lilly is a long-term good holding in the portfolio we would add lilly or gilead. >> victoria, we are getting headlines from bank of america with the funds flow survey they are saying they saw the first u.s. equity inflows in weeks along with corporates for stock buybacks tech led inflows which is true year to date and the first inflows in financials in four weeks. technology is that some place you want to be is there an opportunistic area in technology overall? i ask because there are a lot of tech earnings coming out this week >> you are right a bu

carleton: the retail space, we are looking at tjx company, we talked about this a few weeks ago, thebut trading cheaper than the valuation and this company has capacity to increase stores by 30% when a lot of brick-and-mortar retailers are looking to cut their store account. if they can do that always a good sign and we are heading into a downturn. jack otter: it's a retailing person experience. which bodes well for them. jack otter: a different picture. ben: they make tools, they had earnings that were fantastic, the stock jumped 8%. normally you want to avoid stock after that it jumped to the top of its range and broke resistance on that move. the numbers were so good they will be better going ahead. one analyst called the recession resistant which sounds good to have. sounds interesting. jack otter: technical analyst comes out once in a wild. thanks. to read more check out this week's addition of barron.com. follow us on twitter, barron online. that is it for us, see you next week on "barron's roundtable". s much as i do. that's all i have to say. >> from the fox studio in new yor

alix: going back to target and tjx. if we see tough times, will they not be on the consumer?oanne: it will be on the consumer but you have to look into the consumer to see where they are likely to move their spending if the tough times become severe. they will trade down to cheaper locations to shop. target, t.j. maxx and mcdonald's are all good examples. you want to be wary of how the middle income consumer is going to face a tougher economic environment and where are they going to shop? guy: where are the cracks in the market, the most obvious places to look? we have seen problems and thanking and we are watching what happens in commercial real estate. how many more cracks do we need to see before the cuts become a certainty? joanne: you have to look at companies that don't have a solid balance sheet for the cracks to emerge. we are hearing that credit conditions are tightening and tension in the banking sector is likely to exacerbate that. they are likely to -- those will be constrained by leading issues. the middle income group is more likely to suffer. as the data this m

pepper, i added procter & gamble as well but on the flip side i like discretionary, too, tjx i added while were you on maternity leave. i think there's a way to play consumer -- especially as china reopens. if you think about that is going well you look at macao, lvmh, the numbers have been impressive i think the consumer has been hanging in there, to my surprise, but i actually have a lot of exposure. >> jason, what do you make of mcdonald's here? >> i don't own mcdonald's stock but to steph's point just on some of the staples that have done well the last couple of weeks, the earnings that have been surprising, the thing for me is pricing power, pepsi, procter & gamble, organic sales getting to the 6% to 7% range. on the high end of the guide from last quarter. this is a positive i think the market has early on in the season, early on this year, i think the concern around staples has been they're expensive the multiples have come in some and i think the earnings are backing up the story i really like some of these names. >> josh, i know you're not in mcdonald's but you are in shake

so our focus is two things one, value and convenience that's where we hike the off-price sector so tjxdollar stores and discounters also stand for that core value convenience then the second would be total addressable market that's where we like the active and athletic space so lulu lemon has continued momentum and for self-help, i like the recovery you are seeing from nike >> mike boss, thank you so much. >>> up next here, "final n'mi tsead." dot sshe stay with us us places. so you bought a place. to new adventures. -oh. mwah. -planned... -and unplanned. -surprise! -they lead to goals. -for you, mama. and connect us to family. i didn't get the part. your dedicated fidelity advisor can help you open those doors. but i did get waiter number 2. because they know you. they can help you create a comprehensive plan for your full financial picture and personalized money management with the right balance of risk and reward. doors were meant to be opened. [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely da

going to need to see costs pick up next month but we're fans of costco, walmart, dollar general and tjxwhere people can get good prices and offer convenience. >> you're not a mall walker but you walk malls more than anyone in the world probably, dana. up need to know specifically, maybe costco had inventory issues it doesn't mean there's no ll low-end migration, it means costco my not have had the inventory. >> it's how many consumers are willing to spend you look at the tax dollar refunds and they're down double digits from last year. we've heard of the high end moderating their spending. jobs went to services, went to restaurants. so you say where people are spending their dollars on. there's a shift. >> and you mentioned the ones you like high end wait and see what do you do there >> i think we're going to get numbers on wednesday louis vuitton and christian dior i think you're still going to see high single digit growth and maybe low double digits. with china reopening, it's encouraging. innovation in products is driving demand look at the strength of demand they have sephora. that'

i mean, who would have guessed tjx would have gone up 50 fold, or stop and shop would have gone up tenfoldvidia. you have to find a company that's a turnaround or a company that's going grow like panera or family dollar stores i'm not saying that's now, but that's what -- sears has rolled o over, you know, ibm has slow down but we've had newcomers come on. that's the nature. you have to be looking for new companies. and look at the balance sheet. if you think add five and five and get reasonably close to ten, with you should be able to look at the balance sheet and a, they've gone from 50 to 3. one's got 3 million debt, no cash which one are you going to buy and not too hard to do >> peter, i watched you closely, i was in the business back then, do you remember how many "snl"s went from there. i don't know if you missed any of those they're all big winners. they're all big winners back then what do you think of the financial sector right now and what happened, we saw with first republic, and i would like to get your insight, since you were so good at that sector >> we had a terrible crisis