kate rogers has the action. hey, kate. >> hey, leslie. we'll start with snowflake. company's ceo looking ahead to future a.i. product usage, saying in a statement, quote, the quarter was hallmarked by innovation and product delivery and great traction in the early stages of our new a.i. product with the combination of our platform. the network effect of collaboration and our a.i. innovations. we have a huge opportunity ahead to deliver even greater value to our customers, but unfortunately, that outlook not helping shares, down over 7% a you can see, afterhours. and turning to zoom. that company beating on the top and bottom lines for the quarter and raised forecast to $4.63 billion for fiscal year 2025. that compares with the $4.61 billion and $4.62 billion forecast earlier. and has some upcoming c-suite changes. the cfo will be resigning on october 31st, the company said in a filing. that move important here. not as a result of any disagreement with the company, and a search is currently under way for her replacement. the stock, though, as you can see, up over 2.5

kate rogers joins us now. hi, kate. >>> consumer spending did hold up better than expected in july as inflationary pressures eased up, retail sales surged by 1% in the month according to new data from the commerce department calling for a .3%. >>> the dallas cowboys are the first sports franchise to be worth over $10 billion, the cowboys owned by jerry jones outpaced the other franchises in the league and gained about $1 billion in value since february. the second highest los angeles rams. >>> and amazon will test its prime air drone delivery service in the uk, the country's civil aviation authority announcing today that the company and six other organizations have been selected to test drone flights to remote locations. back over to you. >> interesting. >> we'll see how it all goes. kate rogers, thank you. >>> still ahead a dramatic water rescue caught on police body cam video. >> she's having a seizure. >> come on. >> we'll tell you who jumped in >> we'll tell you who jumped in to save the the virus that caus

and kate rogers joins us. welcome to all of you.cy, i'll start with you and all of your thoughts on these two companies now. >> kelly, we talked about it in the past, investing is like being in a perpetual state of dissatisfaction. soy cheered the move this morning. i mourned the loss at chipotle. chipotle is in our best 12 ideas portfolio. it has been a monster performer for good reason. even the most recent earnings report was outstanding, but the stock is down 30% off the highs plus or minus. so this is going to be fabulous for starbucks. this is a ceo who embraced digitization during covid and turned the corner in chipotle's digital orders. right now, they have about $1 million per store in digital orders. so i think he can do the same at starbucks. i'm just happy that we own it, because it was tempting to sell it, that's for sure. >> it must have been very tempting. you mentioned some of these things might be easy to fix, but starbucks' problems run deep, that when we were talking about this yesterday, they suggested some of th

kate rogers on the quarterly numbers sending cava higher.r coaster week for stocks. let's get started with mike. what we saw today was fairly calm considering what the rest of the week looked like. >> yeah, it was sdjust a bit of tension. there was at least enough suspense going into the jackson hole speech by powell in terms of what he was going to say and how he was going to say it and what he would leave open and what toors he might shut there was a little bit of pressure taken off when he was net on the dubbish side. essentially validated the market's view that rates will be coming down. they should be coming down there's flexibility to do more if necessary but really, it gets the s&p 500 up another 1%. and basically to the highs of the week we hit these levels a couple times in the last couple days. we're just shy of the all-time high in mid-july it's broad too almost 90% of the volume in the new york stock exchange is in advancing stocks that's usually a sign there's pretty full participation. one thing i will note really strong rallie

let's bring in kate rogers with some of the reaction to today's news. a lot of analyst upgrades today, kate. >> certainly. busy day, melissa. the starbucks chair said it this morning that nichol is the right leader for this moment, and clearly wall street agrees. analysts pouring in, mostly positive sentiment. td writing, in our view, starbucks picks up a hall of fame restaurant ceo and his appointment as starbucks ceo and chairman suggests a new era is under way. btig saying, we believe this is a significant victory for starbucks, and evercore isi writing, brian is likely the one restaurant executive that has the gravitas to address the howard schultz founder overhang. howard schultz with a statement in the company's release this morning, saying, quote, he has my suspect and full support. elliott, the activist inves or the, also saying it welcomes the appointment, and starboard out with a similar vote of confidence. we believe this represents a positive outcome for partners, shareholders, and customers. scott wapner reported that trian is happy with tod

kate rogers.t he had to be paid more. >> yeah, one thing about that $75 million replacement, is that because he had to leave any cmg money on the table and they just were making him whole for that? or is that a -- is that some sort of rsu kind of -- >> you know what? kate is still here. >> oh, i can ask her. >> kate rogers, we'll bring you back. >> karen, it's a mix, to answer that question. some of it are rsus and some of it, i believe, is part of the make whole plan, to answer your question. >> all right. kate, thank you. >> thanks, kate! >> thank you. >> when i bring back the guest, i get yelled at. >> she never good-byed. >> kate could answer it -- >> i'm -- >> if kate didn't know the answer, she would have just made believe she took her ear piece out. >> that would have been the smart thing to do. >> kate knew. >> i thought he would get more. >> i did, too. >> that's a lot of money, but i thought it would be more than that to make him walk. >> now you're the ceo of an international company. >

. >>> let's get to kate rogers for a cnbc news update. >>> robert f. mate suggested the independent campaign could join forces with donald trump. nicole shanahan made the comment in a new interview released today. the campaign is considering remaining in the contest to try to win more than 5% popular vote. >>> u.s. health officials say the number of babies born fell in 2023 from the year before, hitting a new low. the decline resumes a decades long fall in the u.s. birthrate after a slight uptick during the early years of the covid-19 pandemic. there were 3.6 million reported births last year, down 2% from 2022. >>> and alex cooper reportedly struck a multimillion dollar deal to move her popular podcast "call her daddy" and unwell podcast network from spotify to sir-iusxm. it will roll out in 2025. according to "variety" that deal could be up to worth $125 million. kelly, back over to you. >> kate, thank you very much. kate rogers. >>> meantime, data shows eli lilly's weight loss drug also slashes diabetes risk. you should see the moves in stocks becau

i'm kate rogers with your cnbc news update. biden reportedly asked israeli prime minister benjamin netanyahu on a call wednesday to pull israeli forces from a part of the egypt/gaza border so cease-fire and hostage negotiations could move forward, according to axios netanyahu's demand to occupy a key corridor on the border has become a major point of contention in negotiations >>> a massachusetts judge today denied karen reed's motion to dismiss two charges against her, including second degree murder in her retrial she hit her boston police officer boyfriend with suv and left him to die a mistrial was declared in july, but the defense argued they heard from several jurors the jury voted to acquit her or the most serious charges >>> a volcano erupted in iceland. the eruption has since slowed, but it did still force some evacuations. dom, back to you >> thank you very much, kate rogers for the news update there. >>> uber is teaming up with gm's cruise as it looks to expand driverless rides this comes as a crucial time for the aut

. >>> welcome back to "power lunch," i'm kate rogers.aska voters will choose between two abortion-related amendments at the ballot box this fall. one amendment would protect the right to abortion until fetal viability, while the other would ban most abortions in the second or third trimester nebraska currently bars abortion after 12 weeks of pregnancy. it comes as part of a wider push across the country with ten states certifying ballot measures this fall in the wake of the reversal of roe v. wade the u.s. will offer free at-home covid tests again starting in late september americans will once again be able to request four free tests at covidtest.gov, according to the biden administration it comes as a summer wave of cases hits the country and a day after the fda green lit updated covid-19 vaccines. >>> and meta is reportedly canceling plans for a premium mixed reality headset that was intended to compete with apple's $3,500 vision pro. the information reported the company told employees to stop work on the device this week after a produ

kate rogers now on what to expect from palo alto.ng in overtime. >> that's right, the street is looking for eps of $1.41 adjusted on revenues of $2.16 billion for the quarter. they expect them at about the midpoint of guidance for palo alto. one area of focus will be the strategy. investors wanting any details on the success of its platform strategy across different geographies and in addition, any impact or billings or customers wins from the crowdstrike outage. its cybersecurity product is going to be used by slb, formerly known as schlumberger. and don't miss mad money tonight when palo alto's ceo sits down for an cnbc exclusive. >> thank you. that's kate rogers. mike, we'll come back to you with just about a minute left. the bullish thesis sort of is momentum traders plus buybacks, now they have to think about the black out period is over. plus, jackson hole, further setting the table for cuts. that's enough. that's all you need. >> i would say so. certainly, it would check off the boxes of the known things that had been botherin

building on already strong gains, kate rogers. >> sara, that's right. beats on the top and bottom lines for q-2. same-store sales, a huge beat, up 14.4%, better than estimates of up 7.9%. >> another rarity in growing traffic in this environment. the change, traffic up nearly 10%. prices up almost 5%. profit margin of 26.5%. that was roughly in line with analyst estimates, suggesting that the big earnings beat was more tied to the restaurant's strong traffic and sales performance. the company also raising its guidance for full-year same-store sales, profit margin, and ebitda. the ceo said steak is significantly outperforming expectations, and weighed in on the value wars on the call, saying, quote, consumers have been frustrated and fatigued by higher prices over the past few years. the wave of price discounting in response to these trends is now being referred to as the value wars. we believe that's a misnomer. price is the cost of a meal, while value is its worth and driven by a combination of attributes beyond the headline price. he's going to join "s

kate rogers. with the market higher, nasdaq up nearly 1%.rsary of google's ipo, and it's facing threats to its existence. should investors buy it or bail? we'll trade the stock in three-stock lunch coming up. frustrated by skin tags? dr. scholl's has the breakthrough you've been waiting for. now there's an easier-to-use at home skin tag remover, clinically proven to remove skin tags safely in as little as one treatment. while i am a paid actor, and this is not a real company, there is no way to fake how upwork can help your business. upwork is half the cost of our old recruiter and they have top-tier talent and everything from pr to project management because this is how we work now. switch to shopify so you can build it better, scale it faster and sell more. much more. take your business to the next stage when you switch to shopify. it's odd how in an instant things can transform. slipping out of balance into freefall. (the stock market is now down 23%). this is happening people. where there are so few certainties... (laughing) look around

let's talk more about the state of the restaurant business with our very own kate rogers who's joinedmuch. high, michael. great to see you. wingstop has seen phenomenal growth in this challenging market. same-store sales up 27%. tell us what the strategy for wingstop is and the sea of values to keep customers coming back in. >> we set a record quarter in q2 that we reported yesterday. same-store sales up almost 29% and that's being driven primarily by tractnsaction grow. we believe we're a category of 1. we have a lots of opportunity ahead of us. we grew our ank nual units offerings. and we set a new target for average unit val um of $3 million because of the amount of runway we believe we have and the strategies we're executing against. >> and talk to us about income cohorts. how are they faring at wingstop? are you seeing any trade down or pull back from consumers per their visits per oh caution per quarter? >> yeah. as you might expect, with a 28% calm, we actually saw a very different result than the rest of the industry. we saw growth across all income cohorts, particularly that

kate rogers is here with more details on that story. kate?encampments have become one of the most prominent visual challenges in california in tackling the housing issue. the governor cheered the court's clarity on actions that can be legally taken and urged governments to develop policies to address encampments with care and urgency. the state has invested $27 billion to address homelessness. in san francisco, mayor london breed, who is facing re-election this fall, has taken a more aggressive approach. that has been met with some criticism from homeless advocates. >> what it means for homeless people, though, this is a real kick in the gut. because they have very few protections. >> breed admits the issue cannot be resolved without more affordable housing, claiming it's causing tension in communities, and some encampments move just blocks away. los angeles mayor karen bass said the ruling must not be used as an excuse for cities to attempt to arrest their way out of this problem or hide the homelessness crisis in neighboring cities or in ja

i am kate rogers with your cnbc news update.d police missed chances to intervene and stop a reservist mass shooting at a main bowling alley and restaurant that left 18 people dead in october of 2023. the independent commission created by the state's governor released its report today and found local police failed to seize the gunman's weapons a month before the shooting, while the army ignored recommendations to get the reservist psychiatric care and ensure weapons were removed from his home. >>> one of the former minneapolis police officers convicted in the murder of george floyd has been released from prison. he was found guilty in 2022 of violating george floyd's civil rights. and bmw is recalling more than 720,000 vehicles over issues with the water pump. the pumps are not properly sealed, which could expos it to water and short circuits. back over to you, kelly. >> thank you very much. meantime, seven of the world's biggest banks, a multibillion dollar loan and one of the most infamous names in tech helped power the twitter

that's kate rogers with our reporting. >>> how about this juicy little tidbit i learned earlier today from sources telling me that nelson peltz's trian built a substantial stake in starbucks over the past few months and then had conversations with mellody hobson. trian is happy with today's outcome so much that they sold the stake on the big pop. the best day ever for starbucks. we'll continue to follow that story. we're just getting started on "closing bell." has the ppi solidified the case for rate cuts? stocks seem to think so? so does allianz's mohamed el erian. what happens tomorrow ahead of tomorrow's cpi print? he'll tell us. - i got the cabin for three days. it's gonna be sweet! what? i'm 12 hours short. - have a fun weekend. - ♪ unnecessary action hero! unnecessary. ♪ - was that necessary? - no. neither is a blown weekend. with paycom, employees do their own payroll so you can fix problems before they become problems. - hmm! get paycom and make the unnecessary, unnecessary. - see you down the line. your shipping manager left to “find themself.” leaving you lost. you need to h

kate rogers, news update. >> hi, contessa.a would end in dialogue but kyiv needs to be in a strong position. and he would present an end to the war. zelenskyy said he is also exploring other economic and diplomatic strategies. >>> supermarket chain stop & shop will stop selling cigarettes and auld other tobacco products this month. stop & shop has more than 350 locations primarily in the northeast. and joins other major chains also stopped selling tobacco. and joshua and his wife carly reportedly just paid almost $30 million for the iconic malibu home known as the wave house, that's according to "the wall street journal," which says the '50s era mid century modern home first listed for 49.5 million last june. designed by famed l.a. architect harry. and owned by rod stewart. looks beautiful. back other to you. >> thank you. appreciate that. >>> remember, always hear us on the podcast. follow and listen to "power lunch" wherever you go. we'll be right back. when you need to prepare for unpredictable adventures... (gasp) you need

let's bring in kate rogers. >> hey, kelly and tyler.roven leader with great track records at both chipotle and yum brands. investors clearly thrilled with the the news. he turned what was a major crisis around food safety at chipotle, amounted to a blip on the radar. never happened again after he took over in 2018. he also wisely launched rewards program and grew outdigital and drive through to great success. at taco bell, launched key new menu items. most importantly, he talks about delighting the customer often. meaning it's worth it for them to come and spend at chipotle in this environment. it's premium does not discount and it is growing traffic right now which is an industry rarity. the stock has soared almost 800% under his leadership. now, the challenges at starbucks will be similar in some ways but different. first, its footprint, much larger and more global with more than 39,000 locations around the world. company owned and licensed. chipotle was on track to hit 7,000 on the next few years. starbucks, the china and u.s. busine

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stock is up 2 1/2, almost 3% in after-hours trading and kate rogers is covering the conference call with another 2 1/2, almost 3% on 2.3 million shares of volume. what gives? >> you mentioned beats on the top and bottom lines for palo alto networks, q4. the company giving upbeat guidance for q1 and full year as it says demand is likely to be strong in this environment. its full year annual revenue and eps guidance had high end ranges better than anticipated and another highlight the board directors authorizing an additional $500 million for share repurchases. now, on the conference call its ceo nikesh arora is saying, quote, ai adoption is proceeding at a rapid pace. innovation is driving the speed of adoption while security might be an afterthought. at the same time, adversaries are leveraging ai capabilities to broaden attacks, better target organizations and scale their malicious activity beyond the capabilities of defenses that rely solely on human. much more to come on "mad money" with palo alto's ceo. back over to you. >> kate with the latest. thank you very much for that. julie, w

kate rogers. >>> consumer prices with the smallest gains since 2021, what investors need to know, whaton after this. something amazing is happening here. retailers are moving inventory quickly and securely. that's because cdw designed and built a solution with cisco security. end to end protection, defends against attacks and makes better decisions in real time. so warehouse and customer data stay protected every step of the way. make amazing happen. cisco and cdw. >>> the judge that oversaw donald trump's hush money trial has refused to step aside for the third time. trump lawyers said he had a conflict of interest because his daughter worked for democratic campaigns. >>> ukraine's president said the country will go into the kursk region. putin called the advance a major provocation. it's the biggest foreign incursion into russia since world war ii. >>> and puerto rico would see as much as ten inches of rain as tropical storm ernesto moves into the territory. local authorities have suspended transportation and told residents to prepare for power outages. forecasters say ernesto is goi

appreciate you. >> it's my pleasure kate, longtime trump operative roger stone, the fbi now investigating how the heck happened, who is behind it, and how much bigger the effort was to target the trump campaign and beyond. >> plus new evacuation orders this morning as crews are battling to protect athens from deadly wildfires that are still underway. and a new heart health warning today about a popular sugar substitute cnn is live from chicago as democrats unite to offer their support to a new nominee and her running mate fellow cnn for complete coverage, the democratic national convention monday at seven on cnn, and streaming on back. everybody wants super straight, super white teeth. they want that hollywood white smile, new censored in clinical white rights two shades, wider teeth and 24/7 sensitive your production. i think it's a great product. it's going to help a lot of patients what will you do when the power goes out? power outages can be unpredictable and inconvenient, but with a generale home standby generator you're life goes on uninterrupted because you have power when you nee

rogers, thank you. >> thank you. >>> our next next maintains his $70 target. >> thank you for having us. i think, look, despite some of the concerns, that kateays highlighting earlier is not over. some of the concerns in the investment community is on the team, but we think the point of scott boatwright is suggesting there's a deep talent bench, with more transition happening. we think the board has conducted an external ceo search just for corporate govern usages. that is going to be showing once again that chipotle has evolved from a one ceo-led fee into being a company that institutionalized some of the things that scott brought into chipotle. >> i'm inclined to think he is really that good, so convince me that the system is now greater than the person. >> yeah. i would say, when brian inherited chipotle, there were a couple things that didn't quite work for the company. first, the brand was not as visible. back in the day, it was suffering from social media scares, and brian worked to make the brand much more visible, and become an attractive brand for gen z and gen alpha. with tiktok, there are more likes on chipotle than some other ico

targeting roger stone, a longtime gop operative, and then using that access to his personal account to try to gain further access to the campaign but this is we've seen this movie before, kate, in the sense that in 2016, the russian intelligence services, as we know, hacked the dnc and hillary clinton campaign and an effort to undermine that campaign. and so what were sort of bracing for were preparing for is potentially more documents to be leaked after this, however, so far, it's been pretty minimal in terms of what we've seen in the public realm we don't know with definitive certainty that iran is the one leaking the documents but the fbi and the justice department is preparing to investigate this. they're gathering all the information that they can. and i expect there to be more public warnings from us authorities in advance of the election to say, watch out for suspicious documents. there's foreign intelligence service is trying to undermine confidence in the political process. kate yeah, for sure, john. >> thank you so much for the reporting. sara. >> all right what lower drug prices the biden-harris administration says that is exactly what they are delivering up next