kate rogers. relief, tim. >> it is. value is a relative term at starbucks.et that they've got these pairings and this $5 value, but -- speaking of kind of the loyalty program. $33.5 million loyalty members at this point, up 7% year over year. the china news is the kind of news that we've been expecting and doesn't really -- we're kind of expecting that at this point. the cost controls are a big thing. the elliott dynamic is helpful. it doesn't solve starbucks' issues. and i think the new machinery and the improved operational performance is fine. i think they need to be careful about brewing out of that machine rather than just a traditional drip brew. it just -- >> you don't like the machine? >> i dislike the machine a lot. doesn't taste as good. >> goes after the starbucks, the chipotle, up by -- >> because i love these brands, because i love these companies, and i'm disappointed. i mean -- >> i'm a channel check. >> right. >> and they should be listening to you. >> like a peter lynch sort of -- >> chipotle makes a burrito faster than starbucks can make a

kate rogers on starbucks. wrong, the report the last time was a disaster that won't soon be forgotten. there's a lot to make up for with this current report, right? >> that's right. they cut guidance for the full year. i'll take you through the numbers. starbucks will report earnings after market close today. analysts looking for eps of 93 cents adjusted on revenues of $9.24 billion for the quarter. key figure to watch, same-store sales projected to fall in all markets, dropping 2.7%. internationally, 5.1%. in north america, sales declined to drop 2.2%. starbucks is taking steps to remedy the situation. we reported on a new training system for baristas meant to improve the experience for the workers and customers in cafes, including speeding up service times, which is key. it's opened up its app to non-rewards members and uncharacteristically began to offer a value deal of its own with a coffee and food item for $5, to capture back business. stock is down 21% year-to-date. we will see what the quarter looks li

our kate rogers got a first look. kate? >> reporter: hey there, kelly.sco. he gave cnbc a first look at proposals that include tax incentives for businesses that relocate downtown and those that get workers in the office for days a week. he says his project is akin to other anchor projects in new york city with like hudson yards. now, this comes as data from cushman and wakefield shows last week san francisco office vacancies are at a record, 34%. he plans to cut that number in half by the end of a first term. >> right now if you come downtown, the issue is a lack of people. it's a shell of what it used to be. so, part of tax incentives needs to make sure employers are making sure their employees come back to work multiple days a week in the office to create that vibrancy that will really bring the features downtown forward. >> reporter: now, another piece of the plan, a downtown park, which you can see right now on the embarcadero. that's in our backyard at cnbc. he also has aggressive tax incentives and incentives for moving commercial buildings to res

. >>> to kate rogers for cnbc update. >> israel says they carried out a retaliatory strike.r that killed 12 children in the israeli-controlled golan heights. israel has a right to respond but that it's working to avoid an all-out escalation of violence in the region. >>> another wild fire is leading to evacuations in california. the newly ignited nixon fire has already burned more than 3,700 acres in riverside county near san diego. in northern california, the massive park fire has already burned 380,000 acres and only 14% contained. >>> and federal regulators said today amazon can be held responsible for defective goods sold by third party merchants sold on his marketplace. they rejected the online retailers argument it's only an intermediary saying the company will bear responsibility for product recalls. amazon did not immediately respond to request for comment. tyler, back over to you. >> thank you very much, kate rogers reporting. >>> regional bank stocks continue to rally. kre up 19% in july. we'll discuss some catalysts for the sectors next when we return. ♪ >>> welco

kate rogers joining us with the details. >> hey there, jon. a mixed quarter for dominos.ng in ahead of estimates while revenues in line the news weighing on the stock sending it down over 13% the company also temporarily suspending its net new restaurant openings due to challenges with its largest international franchisee, struggling in both japanese and french domino's did see u.s. comps driven by transaction growth and said it is growing loyalty redemptions, particularly with its carry-out business executives continue to note this is, quote, just the beginning for the u.s. loyalty program relaunch, which is meant to be a multi-year comp driver saying today's orders are tomorrow's sales this morning on the analysts call, it also said it saw in the face of consumer spending slowing overall, growing orders in delivery and carry-out in every income cohort, which is key. that'll be the key consumer sentiment and impact of value across the board new data from placer a.i. saw mcdonald's, chipotle, and chili's saw a boost in traffic from limited offers, as value-hungry customer

our kate rogers joins us now with more. kate? >> melissa, it was a tough quarter for the fast food giant, missing estimates across the board. it's second straight quarter eps miss. and as for those same-store sales, they missed the mark in every operating segment. in the u.s., its key market down 0.7% as the ceo said its value leadership gap in the category shrunk, adding that the consumer slowdown was most pronounced with low income consumers. take a listen. >> seeing the consumer is eating at home more often, you're seeing more deal-seeking from the consumer, and you're just seeing, i think, a tradedown, even within, either units per transaction or within mix. all of those things for us are indicators that the consumer across a number of these markets is being very discriminating. >> now, the theme on the call was, no surprise, all about value. finding the right offering to resonate with consumers globally, because this pull-back isn't limited to the u.s. consumer. it is important to note that $5 value deal began on june 25th,

kate rogers joins us now. hi, kate. >> hey there, zinhle. that's right. bissle is recalling 3 million steam cleaners that caused over 150 injuries. the consumer product safety commission said the cleaners spit out hot water or steam which can cause burns on the user. the recall affects steamers sold in retail stores nationwide and online from 2008 to 2024. >>> meta is in talks to buy 5% stock in ray-ban. according to "the wall street journal" that's a $5 billion share of the company. if it goes through, it would allow meta to build more devices with the eyewear giant. >>> finally, netflix is ending its cheapest ad-free plan. the streaming giant told shareholders it was phasing out the plan in the u.s. and france while netflix stopped offering the plan for new subscribers last year, customers who remained on the plan will be notified today to choose another plan. the move could drive more customers to its cheaper ad-supported plan that costs $6.99 a month. zinhle, back over to you. >> what you're saying is, when i turn on netflix tonight, that's the messag

kate rogers. is the speed. >> the chaos in the stores. >> the chaos. >> i don't -- it feels like it. and maybe that person that jumps off the line and kind of gifts in the -- >> the cups -- >> directs traffic, i think is important. the biggest issue is value or lack thereof. interesting that starbucks got into this pairings promotion. they are hearing it loud and clear. and they can't not be seeing it in terp terms of foot traffic. i think it's very important. i think what we're seeing, people are running out of gas. and i think it's a combination of both that their margins are higher, so they have to pass this on, but i think there's something that has to give. and i think these machines they have in the stores that are making it cup by cup are a problem. but that's a personal customer opinion, based upon not digging that very expensive cup of coffee that used to be, you know, a drip coffee, now it's made like a k-cup. >> out of a machine. like what we get here. no knock on the coffee here. >> ex

. >> kate rogers, thank you very much for that, kate.ead off to break, some of the earnings we want to flag including seagate. we'll see that in tech check coming up and enphase. pippa stevens will join us to kick off the move on that name and lamb weston and we'll speak with tillman fuertitta about th weakness in the restaurant. "power lunch" is back after this. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. >>> welcome back. here's a look at the markets. tough day across the board especially for the nasdaq down 3% and for bond yields, that's where, you know, i have so many questions. who better to ask than rick santelli? rick, some people making a lot of what bill dudley said

kate rogers has more. >> kamala harris has more to california and launching her political career, asornia's junior senator. it includes donors to bolster her bid for state attorney general, where she described herself as a capitalist. it's shifted over the course of the last few years. to see what biden has done to launch antitrust pieces against apple and others. it could be a balance she has to strike if she wins the nomination and the presidency. >> it will be a radical departure for harris to turn it around and undermine biden on a popular legacy. after all, i think she does have a debt to biden and fulfilling that legacy. it could be a radical departure for her to undermine it. and it would result in preblowback. >> harris has a delicate balancing act. tony west, the chief legal officer at uber is her brother-in-law. here in the valley, investors are looking for how policies would impact section 230, before becoming v.p. guys, back over to you? >> when i think about kamala harris run here, i think when the vice president was district attorney in san francisco. she actually for t

now over to kate rogers for a cnbc news update. >> the fbi and secret service are are reportedly briefingse members on the attempted sass assassination of donald trump. it comes as house speaker mike johnson and other top republicans call for the resignation of the secret service director in the wake of the shooting. a source tells nbc news president biden is expected to meet with israeli prime minister benjamin netanyahu on monday. it comes a couple days before netanyahu is expected to address congress amid criticism in his own country over his handling over the israel-hamas war. >>> it was a good day for fx. the network's hit show "the bear" grabbed 23 emmy nominations today set ag comedy series record. it includes best comedy series and best comedy series actor for alan white. the awards will take place on september 15th. jon, back over to you. >> thank you. "the bear" has to be the least funny comedy series ever. >> but so good. >> my wife loves it. it's not a laugher for sure. >> dark humor. >> indeed. rising u.s. rate cut optimism steering gold to all-time highs. more on that next.

. >> all right, kate rogers, thank you so much. >>> coming up, as we've mentioned vice president harris on the campaign trail today. >> i spoke with voters in one key swing state about how they feel about the change in the feel about the change in the race, we'll have their if you have moderate to severe ulcerative colitis or crohn's disease... put it in check with rinvoq... a once-daily pill. when symptoms tried to take control, i got rapid relief and reduced fatigue with rinvoq. check! when flares kept trying to slow me down i got lasting steroid-free remission with rinvoq. check! and when my doctor saw damage, rinvoq helped visibly reduce damage of the intestinal lining. check! for both uc and crohn's: rapid symptom relief lasting steroid-free remission. and visibly reduced damage. check. check. and check! rinvoq can lower your ability to fight infections, including tb. serious infections and blood clots, some fatal, cancers, including lymphoma and skin, heart attack, stroke, and gi tears occurred. people 50 and older with a heart disease risk factor have an increased risk of death.

kate rogers has all the details. >> hey, melissa, we'll get to that point, but we'll talk about rising traffic first. that helped to drive same-store sales growth, up 11%, better than expected, along with top and bottom line beats. in the face of a lot of value competition in the fast food space, brian nichols says they are not seeing consumers trade down and are growing with all income cohorts. take a listen. >> the value proposition for chipotle really hinges on, you know, great culinary, providing great customization, with terrific speed. >> now, he also addressed on the conference call the social media push-back the company has seen on serving sizes, saying there was never a directive to provide less to our customers. generous portions is a core brand equity of chipotle. he's adding that they're re-emphasizing training and coaching for skicr consistency. the stock gave up gains on margin pressures, saying it's seasonal, temporary, or can be addressed through efficiency. the company left full-year guidance in tact. back over to you. >> did they add color on the margin pressures? the

but warning of challenges internationally the stock into negative territory for the year cnbc's kate rogersails. >> hey there, melissa. the news weighing on the stock this whole day, sending it down more than 13%, as the company temporarily suspended its net restaurant openings due to challenges with its largest international franchises struggling in japan and france do domino's did see u.s. comps driven by transaction growth and loyalty redemptions particularly with carry-out business. executives continue to note this is just the beginning for the u.s. loyalty program relaunch, which is meant to be a multi-year comp driver, saying today's orders are tomorrow's sales. ceo told analysts this a.m. of the program. now, it also said it saw in the face of consumer spending slowing overall, actually growing orders in both delivery and carry-out in every income cohort that will be the theme consumer sentiment and the impact of value and pricing. there's new data from placer a.i. finding that mcdonald's, starbucks, and chili's saw a boost in foot traffic from limited time offers. keeping them comin

kate rogers joins us now. >>> elon musk said the spacex and x headquarters will move to texas from california, musk cited a new school gender identity law as the last straw, he's already moved tesla headquarters and his residency to texas in 2021. philip morris will invest $600 million to build a manufacturing facility in aurora, colorado, 500 jobs. philip morris said the failsity will help meet its strong demand. >>> tinder is using a.i. to help people make matches. the dating app unveiled the new tool. a.i. will find pictures it thinks will most flattering. the new tool will help save time. young singles spend as much 33 minutes selecting their profile photos. back over to you. >> it's hard to pick those photos. it's hard. i don't know if a.i. will help. >> you have to strike the right balance. >> thank you. >>> coming up, nominations for the 76th emmy awards are officially out. >>> plus, police discover traces of miss son inside a bangkok hotel room where six guests were found dead. who investigators believe may have done this and how. that's ahead. that's ahead. very interting story on "n

kate rogers with more on the street's reaction. >> good morning, it was a mixed quarter for starbucksmbers in key markets including china. but the takeaway from the company is it has confidence in the plan to turn things around. it reaaffirmed the full year gui guidance. executives said there are reshoots and promotions are helping to boost average tickets in the u.s. the ceo said we're not satisfied with the results but our actions are making an impact. goldman out with a buy rating saying we acknowledge the still prevalent market skepticism as well as fundamental issues which need to be addressed. however we believe the worst is behind. ubs neutral, $85 price target here. results included some indications of progress against strategic plans but expect starbucks is improving frequent demand among nonloyalty customers. and j.p. morgan calling the results tolerable but not in the clear given the traffic drop in the u.s. one thing to note on the traffic drop is that the average ticket did go up because they are issuing, as all of us have seen a ton of promotions, a lot of promotional ac

kate rogers got a first look at that proposal. kate, what's going on? >> andrew, good morning.irly is reenvisioning downtown san francisco, and that means getting workers back in the office. he gave cnbc a first look at proposals that include tax incentives for businesses that relocate downtown and for those that get workers in the office four days a week. farrell says his project is akin to other major anchor projects. this comes as data from cushman and wakefield shows just last leek that san francisco office vacancies are at a record near 35% while manhattan stands under 24%. farrell's plan includes cutting that number in half by the end of his first term. >> right now, if you come downtown, the issue is, is a lack of people. it's a shell of what it used to be. so part of tax incentives is to make sure that employers make sure their employees come back to work multiple days a week in the office to create that v vibrancy that will bring the features downtown forward. >> another piece of the planning, downtown park on the embarcadero which is right here in our backyard at cnbc

mcdonald's quarterly numbers just crossed both wires, and kate rogers has the numbers. food giant in a tough environment overall for the sector. mcdonald's missing estimates across the board in q2, earnings per share revenues at 6.49 billion. that's lower than the 6.6 billion that was estimated by analysts. this is its biggest earnings miss since january of 2022. same-store sales fell short of estimates as well. in its key market, the u.s. same-store sales fell 0.7%. analysts were expecting them to be flat this quarter. the u.s. had negative guest counts, but that was offset partially by many price hikes. . it is important for viewers to remember the company said it would be rolling out value offerings at the end of the previous quarter. there has not yet been a report that fully captured how that offering has fared so far. international markets did struggle as well this quarter, international operated market sales fell 1.1%, lower than the 1.8% projected due this part to struggles in certain markets including france. international developmental license markets saw sale

last year the princess practiced her serve with the king of tennis, roger federer. princess kate confirmed this year because of her cancer treatment. but after her surprise appearance at the king's birthday parade last month, organizers are hopeful. >> it's something that she cares about such a great deal. she's patron of the club. she's a huge tennis supporter. >> reporter: her appearance would be a welcome sight for fans in what has been a difficult year. if the princess does appear a last-minute announcement. meantime here at wimbledon today tommy paul is through to the second round and so is naomi osaka, back for the first time in five years, she said it feels like a dream. >> kelly, thanks so much. >>> coming up, actor jamie foxx opening up his recent medical emergency, that's coming up on "nbc news daily". i have moderate to severe crohn's disease. now, there's skyrizi. ♪ things are looking up ♪ ♪ i've got symptom relief ♪ ♪ control of my crohn's means everything to me ♪ (♪♪) ♪ control is everything to me ♪ feel significant symptom relief at 4 weeks with skyrizi, including

last year the princess practiced her serve with the king of tennis, roger federer. princess kateot confirmed this year because of her cancer treatment. but after her surprise appearance at the king's birthday parade last month, organizers are hopeful. >> it's something that she cares about such a great deal. she's patron of the club. she's a huge tennis supporter. >> reporter: her appearance would be a welcome site for fans in what has been a difficult year. and if she does appear, it will likely be a last-minute announcement, much like it was for the king's birthday. meantime here on the courts, tommy paul is through, serving up 10 aces in his first-round match yesterday and so is naomi osaka winning here for the first round at wimbledon for the first time in five years. sheinelle, she said it feels like a dream. >> that's cool. so fun to watch. all right, kelly. thank you. >>> let's go, cocoa! >> right? >> let's go coco! >> dylan dreyer is in for al today. good morning to you. >> good morning. nobody rooting for the forecast back through the midwest where severe storms are poss

last year the princess practiced her serve with the king of tennis, roger federer. princess kate'snizers are hopeful. >> she's a patron of the club. she's a huge tennis supporter. >> reporter: her appearance would be a welcome sight for fans in what has been a difficult year. >> good to see her looking well. >>> time now for a look at some of the morning papers. "the arizona republic" is highlighting two laws that could prohibit an estimated 35,000 voters from casting ballots this year. they argue proving citizenship is necessary to the integrity of the election. critics say the motion is a form of voter suppression. >>> the indianapolis star reports nearly a dozen state health care workers have been charged with defrauding their patients as part of a broader federal investigation that charged nearly 200 people. the cases involved providers stealing opioids, credit cards and bank information from nursing home residents and other vulnerable patients. >>> the post standard results a federal grant will be used to train workers, expand supply chains and subsidize equipment for small an

rogers joins -- phil lebeau on what sparking today's rally. we're here to break down the crucial moments of the trading day. kates happening? >> scott, i think a lot was forecast by executives previously. as for same-store sales, these also missed the market in every segment. the ceo said the consumer slowdown was most pronounced with low-income consumers. while 93% of restaurants will extent the offer into august, management teams are thinking about tun the it. we have as affordable gap to close. that clearly speaking to upcoming decisions. scott? >> indicate rogers, thank you for that. phil lebeau, apparently investors listen. >> when you change your top pick, it used to be ford, now it's tesla. they say there's about a 40% up side. he gives a whole bench of reasons. three primary reasons, first of all, the cost cutting put in place, the restructuring of the auto business and/or the ev business, that limits downside risk. they're days ago way more with consumer credits, and also managing their china exposure. one change in terms of how the street looks at tesla, in terms of annual delivers yesterday, it used b

kate has attended nearly every final since 2011. >> you should start with that. >> reporter: a keen tennis player herself, the princess practiced her serve with the king of the court, rogerrthday parade, known as trouping the color. but despite the challenges facing the royal family, they're creating an exciting summer for their kids, on sunday, william taking eldest son george to berlin for england's men's soccer european final against spain and in june he brought the kids to see taylor swift performing at a sold out wembley stadium in london. it's been a difficult year for the royals and future heirs to the throne, but despite their struggles they're showing the world life must go on. and take a look at this really sweet picture that the princess and prince of wales tweeted just this morning. princess charlotte and prince louis watching the soccer game last night at home. the game didn't go their way but it's really sweet their parents allowed them to stay up late to watch. hoda? >> like all parents, i guess. thanks so much, meagan, we appreciate it. let's talk about what happened at wimbledon yesterday and what's next for princess kate and her family. royal contributo

kate's wimbledon date with the one spaniard. we don't mind winning. >> we do. well, i do. oh you do. >> i'd like to see djokovic win. yeah, see if djokovic wins, then he equals rogermphs at wimbledon. does he? which puts him on the same level as that. and you know, you use the phrase yesterday or last week. i think it was king of wimbledon. now you've got two people vying for it. if you include all three, if you include all three, if you include andy murray as well. and so djokovic, do you think about it? he ducks out of the french open early because of a knee problem. he wasn't going to play. i mean, remember he was two weeks ago. he was in the same boat as andy murray. we weren't sure if he was going to compete. so to go to the final and win his semi—final in straight sets and have a chance tonight, he'll be more than happy with that. >> i would have thought, all right, aidan, we shall leave it there. but we shall see you later on because everybody's wondering, catherine there whether she's going to take charlotte. >> oh, yeah. that's the that's the wonder. and that would just be magic. it's going to be magic anyway. it's going to be an incredible evening, isn't