sales, abercrombie shares up 5% in 2017.ashion startup placing its ipo below its target range, pricing shares at $15 a piece in a regulatory filing targeting $18 a share to $20 a share, concerns about competition and long-term growth prospects put pressure on the ipo pricing. we will see about that collective retail environment, walmart yesterday, what a day. >> and professor galloway so poignant about a lot of his facts, walmart pivoted to the online, got aggressive, you are starting to see sales turnarounds on the online omni channel but 21st century fox, rumors and talks and discussions that sony is also in there. you are starting to see the content isn't king, it is the distribution in pipes but you need the content, 21st century has that, that is why you see verizon distributing through their system and sony. sony is talking to acquire more assets. maria: you have the simpsons, the hottest show there is right now that fox produces on nbc. obviously they are very attractive aspects. >> it is not going away but the fcc, w

"i likeng that song, girls that where abercrombie & fitch -- wear abercrombie & fitch." house tax bill might hurt universities and their sports programs. ♪ scarlet: for more than three decades, colleges and universities have leaned on an of skier tax -- obscure tax rule. a practice that generates millions in annual revenue for the schools. that is now threatened by republican tax legislation. there with more, evan williams. this is something in both the senate and house bill. >> it is terrifying for college sports and ministers -- administrators. they put at how immense football team on the field. -- a man's football team on the field. the entire athletic department is funded on the back of donations. how much of those donations come because they are tax-deductible? scarlet: they are similar to personal licenses you see in the nfl. >> once this was written into the tax code, the universities realized if we make the bulk of our donations as you pay $10,000 for the right to buy season tickets, that is great for donors, they are more likely to give if you do it that way. it

. >>> welcome back have you seen shares of abercrombie and fitch today, up 27% after posting same-store sales growth after more than a year of declines the company said that its california-themed hollister brand was a key revenue contributor for the quarter. saw sales growth across all channels and geographies. >> now i really feel it's back to the '90s with them up, gap brands up yesterday. >> there you go. >> talked about in this yesterday, walmart, cisco. >>> nelson peltz narrowly won a recount for a seat on procter & gamble this week what's become the most expensive proxy fight in history for what these battles mean to investors, we're joined by ann shaheen. ann, welcome. >> welcome back. >> thank you nice to be here. >> you guys supported nelson peltz here, to read the way that you framed your philosophy, you say you're passive investors but active owners. what would -- oh, and i'm sorry, we're just going to have to interrupt this for one second. we got to get over -- we'll come back to this after the white house press briefing, we want to briefly listen in. >> the basic idea is th

. >>> meantime, abercrombie's hollister brand helped to revive sales in the latest quarter. the teen clothing chain reported sales growth for the first time in a year. those results with earnings topped estimates and abercrombie is forecasting strong sales fortunae holidays. the shares took off to $15.55. >>> a regulatory filing shows john flannery recently bought 60,0 shares in ge. the transaction was more than $1 million and could be viewed as vote of confidence in the conglomerate. ge's shares finished down fractionally to $18.21. >>> apple says it's delaying the release of its home pod speaker until 2018. the technology giant said it needs a little more time to tweak the $350 device and expects to launch it early next year. the product marks apple's first entry into the smart speaker world. and apple shares were off about a half percent at $170.15. >>> despite facing challenging retail situations and two major hurricanes, ross stores said late yesterday it beat its own expectations for quarterly results. the off price clothing and home goods retailer blew past street exp

going the other way, abercrombie, healthy holiday sales. look at them go. from the hollister brand. the stock is up 25%. >>> a hung jury in the bribery case against new jersey democrat senator bob menendez. can you tell me what's next? ashley: that's a good question. prosecutors could decide to retry him, no doubt about that, but the general consensus is, they probably won't. one of the jurors said 10 to convict, two to acquit. menendez came out firing. i know you were digging my political grave so you can jump into my seat. i know who you are. i won't forget you. at this point, bob menendez in new jersey will be back in his senate seat. stuart: germane to our own judge napolitano. he is telling us that whether or not they take him back for another trial, is up to jeff sessions. ashley: ah. stuart: the attorney general. now that is interesting. because if they retry him, he is out of the senate. can't vote in the senate. if they don't retry him. then he is in the senate. they have a democrat vote in the senate. ashley: big decisions to be made. stuart: okay

abercrombie did not have a ceo since 2014 you get a ceo in there, the numbers are good. >> that's a-longwithout a ceo. >> david, they were taking a permanent intellectual vacation at anf. >> self-driving company. >> it is self-driving. >> by the way, a piece out by city today, has the 37 companies that could be bought by amazon i'm being facetious. it just says the retail weekend reading, i'll digest, the eagles play sunday night, and it says that anf is the first company that could be on the list to be bought by amazon instant infrastructure. >> maybe we reached peak amazon. it comes up in every conversation think about this, just in the world of m&a, two transactions that are now being contemplated. one cds and aetna, amazon is somehow a part of that, right? the other, fox, disney, fox comcast. fox responding to a threat from amazon you can go through so many different things. >> like a cloud business. >> drugstore and a -- >> yeah. >> a lot of insight into that. the customers love amazon so much that anything they touched turns to gold. they are and everybody feels these retailers are

but it's going to be in those names like express, we pointed out a couple of weeks ago, abercrombie. these names that really torqued on the laggard side going into year end but you're going to have to see something fundamental change i don't think you'll see that. technically i think they can wrap >> nothing fundamental has changed. two weeks ago these things were left for dead, amazon was eating the world, every day amazon had a new company or industry they were going to disrupt. nothing's changed. this is a bounce off the bottom. it's like they hit rock bottom and maybe their life looks a little bit better, but just like an intervention, you have to wait 28 days if you want to trade them, great. i do not think this is a turnaround >> how can you say there's no fundamental change when we've had earnings from most of these companies and the earnings turned them around walmart, same-store sales -- >> walmart is different. >> okay. let's go to macy's, let's go to gap. >> foot locker >> foot locker was less bad. it's all relative. i'm more in your camp. >> hold on one person at a time >

. >>> abercrombie & fitch's shares soaring.hat beat estimates by 8 cents. comp store sales rose 4% abercrombie will close up to 60 stores in the u.s. by year-end that includes 14 stores that have already closed this year. >>> gap reporting that third quarter earnings and same store sales that beat forecast rsh results are driven by a turn-around at its gap and navy brands that effort bearing fruit. the retailer is also raising its full-year profit and sales estimates. >>> william sonoma posting better than expected third quarter profit however, the home furnishings retailer is narrowing its earnings outlook for the year. the company is also buying augmented reality start-up outward for about $112 million in cash. >>> pringles looking to become part of your upcome holiday. the brand rolling out eight new chip flavors based on traditional thanksgiving day foods. i don't know what i think about this the flavors include turkey, mashed potatoes. this one is strange to me. stuffing and then cranberry sauce. you can get a cranberry sa

retailers -- gap, foot locker, abercrombie & fitch all posted earnings that have investors climbing ins. you can see the retail sector is actually outperforming the s&p, year to date. as the purple line. it's not all sunshine and smiles. that might perhaps apply best to amazon, which is the online. -- the yellow line. and that's walmart, the white line. they are really taking the fight. if the apocalypse does come, they might be there to take on amazon. julie: who will be the cockroaches? maybe that's not the best analogy. over the last 80 years, strong annual equity gains have usually been followed by positive returns. the s&p is on track for the 15% rise this year. this annual gains in the s&p. that game was matched 27 times in the last eight years. the stock market was high, 70% of the time. averaging a 5.3% return. stocks posted at least a 15% years, 17 of the last 50 rising an average of 7.2% in 71% of the years after those strong returns. lovely stats to end the week, g #btv 1790. julie: i do love my stats and retailers near and dear to my heart. mark, i'm going to give it to you

-what is abercrombie? -yes. business pairings, $800. patrick. -what is wesson? -wesson, yes.pairings, $1,000. [ beep ] that would be dean & deluca. patrick.

foot locker we talked about that and abercrombie and russell is leading the chart there.ns disappointed due to aggressive pricing. all but three components are down for this week take a look at shares. they are soaring the software company reporting on a better eps in revenue and also raise its guidance, michelle >> big news, i am michelle caru caruso-cabrera according to a new report, one and five households have zero to negative wealth. they owe more than they own. st staggering wages and students with credit card deaths are are -- debts are weighing on americans. nebras big story we are working on. shares of twenty-first century fox. cnbc wants to buy apart of the media giant. disney approached fox of buying some of its assets what woucould it mean for shareholders joining us is craig moffeit and joining us laura martin, internet and media analyst >> craig, let me start with you, when it comes to buying, and the negative response that we are getting from the doj >> that's right, michelle, knowing what we know now with at&t's bid for time warner being challenged and wit

gap andp today -- abercrombie & fitch are up-to-date.e bloomberg terminal, i have s&p retail index. it is having a great day today. up about 6%. and a number of others are doing extremely well today. there is of course something we should continue to talk about, amazon. i will change the chart. 7326. what you can see is the retail index has been doing a better than s&p turquoise line. amazon is the yellow one. the white line, that is walmart. if there is one giant that will survive the retail apocalypse is probably them. they had a great earnings report this week. we saw their e-commerce sales have risen by 50% in the third quarter. they had some of the best groups since the recession. if anyone is taking the fight amazon, it is walmart. david: making a substantial investment in e-commerce. emma: that is really paying off. shery: think you so much for that. david: we learned robert mueller subpoenaed over a dozen former trump campaign officials last asking them to turnover doctorates related to its investigation into possible links with

we are also seeing abercrombie & fitch doing better than estimated. the company crediting a sales boom at a revived sales hollister, the teenager chain. well,e gap is doing fueled by old navy, which has been consistently strong as people look for lower prices. mark: we are down for the eighth day. we haven't fallen for two consecutive weeks since july the 28th. that is the run that european stock markets have enjoyed. of -- the decline -- .4% .4 of 1% is the decline. french pay television recorded their first growth and customer numbers since the start of 2015. pushhairman has led this to require states in the carrier . shares up by 4%. this is the biggest declining stock in europe. the worst-performing stock. shares in a french company down by 16%. it is a french catering and support services group. what it did earlier was issued a profit warning, saying its target of significant growth in adjusted eps will not be met due to start of costs and you contracts and the impact of hurricane irma in september. and the profit warning could put at risk their

foot locker, abercrombie had a great month. footlocker 30%. also abercrombie 26% in the gap of 15%. the retail up a lot of momentum. the analysts were looking closely with these retailers say you know for all people are feeling better and they prepared to spend probably total sales of 320%. brick-and-mortar 2% roughly but if you include e-commerce is 320% growth year-over-year for the holiday shopping season. neil: nicole, thank you very much. shoppers are opting to go online, use their mobile phones instead of going to physical stores. part of the fickle scene on all of this. what is going on here? when you hear that we are up about 16% to 18% in online buying and then we were last year at this time and traditional buying country store buying is up 3%, one thing undeniable as we are buying more than we were last year, right? >> absolutely. this is a story of entrepreneurs and small businesses of incredible holiday season from black friday through cybermonday, just in our platform along with 500,000 hours and we saw over a billion dollars grocery platform. gross merchandise volume.

we are seeing names like foot locker, abercrombie, more than 20%. walmart, gap, 15%.zon, 8% this month. surely outpacing the averages. the s&p is up about 1%, just to give you some other details, how much are you spending? that will likely to go up about 3.5% $957, and e-commerce is going to be close to 16% of our spending. so much of that will be on our mobile phones as well. it feels like they will stop until they drop, dana t, getting ready for the holidays. still exciting times. thank you, nicole. meanwhile, guns making the list of this year's hottest selling items on black friday. the fbi said a cap more than 250,000 requests for gun license request. up 10% the number of guns it sold could be even higher, since buyers have to undergo one check before buying one or more firearms. what is on the president to-do list for the end of the year? are political panel will discuss their busy agenda, plus president trump says the u.s. will no longer armed kurdish fighters in syria. jack keane explains how this could tip the balance of power in the middle east. they are what

as for earnings, foot locker and abercrombie & fitch report before the opening bell. >>> it's a big daypos. six companies are set to go public today so what's driving the latest ipo boom let's bring in john martinco from drexel hamilton good morning >> good morning. >> sum up the year for us and particularly q4 how that is shaping up in terms of volumes >> there seems to be acceleration this is typically what we see around the holidays going into thanksgiving the high water mark was 2014 with 275 ipos, we're on pace for 150 after today. what is that in terms of market value, how does that stack up this year? >> was about 90 billion issued in 2014. and the market value is obviously a touch lower than that i think what you're seeing today with the six ipos, i expect them to trade six different ways. two i'm watching today, sale point and stitch fix >> tell us about those two >> sale point is interesting there seems to be a fatigue that is taking place this week on these ten ipos let's not forget in the primary issuing space there's 25 secondary and block trades a lot of paper hit the mark

abercrombie & fitch fitch posting a rise in its same-store sales for the first time in seven quartershanks to growth in the hollister brand gap unchanged. aber crop by up slightly ur been outfban outfitters down% in earlytrading. >>> intuit is backing its forecasts for the year and its guidance is in line with estimates. >>> shares of zto express are slumping today they reported earnings and revenue that fell short of forecasts. >>> agilent technologies with results topping estimates. but the current quarter profit is lower than expected >>> still to come a round up of the global market picture and shares of palo alto networks popping in the premarket, we'll explain why. you're watching "worldwide exchange" on cnbc. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we c

gap has a short position, shoe carnival, 12%, abercrombie & fitch, 23%. the buckle, 23%.eally wants those guys to go out of business, but i think brick and mortar is still something of a proxy for main street. even though more and more people, obviously, are shopping online. you know, though, here's the thing to remember: often the death of malls match the plight seen with the death of main street, so we should cheer the impressive gains we saw in brick and mortar today. now the housing revial. it continues to go very well today. starts and permits came in significantly above wall street consensus. housing starts in october up almost 14%. single homes were 5%, multi-family homes, you know, the condos and stuff? 37%. what about those permits for october? the annual rate almost 1.3 million, up almost 6%. single homes up almost 2%, multihomes up more than 13%. i would say ride personally like to -- i personally would like to see more traction with single family. millennials' desire to live in and around large urban areas. and then there's elon musk who continues to be a cont

week will be busy with ge's report on monday but also earnings from walmart, cisco, tencent, gap, abercrombie coke has an investor day also, which we'll be at. so there's a lot to watch and president trump is still in asia in the early part of the week. >> walmart walmart's going to bea big one for tech reasons. >> that's true. >> let's get to the judge on the intrepid celebrating veterans day. >> announcer: today americans from sea to shining sea honor our veterans, the men and women who fought to keep this great nation free. [ gunfire "halftime report" team is honoring those brave men and women as wells a we host soldiers, sailors, members of the air force and marines, our mission's clear, help guide them through this historic market rally giving them access to some of the best and brightest investors on wall street today we're talkin

abercrombie & fitch, shoe gap, and a good beat at old navy.o spend if you will buy at a discount. and the theme seems to be that younger consumers are driving sales for the holidays. we will see if that hands out. williams-sonoma a little bit weaker in their earnings. a divergence between the equity market and the junk bond market. the high-yield market last week, we saw a lot of outflows over $3 billion. that highlights would we have seen. the blue line is junk and high-yield outstanding. you can see how much we are seeing that drop in the past few days. the flipside is yellow. purple line the shares outstanding for s&p. you have investment grade and shares outstanding holding up relatively well. junk continues to get hammered. is a't know if this telecom, utility, fundamental --nings-pacific earnings-specific story, or if there is something we need to look at the equity market. jonathan: is that a move to quality that you see? >> we are seeing a little bit of that, yes. these are -- there are specific names dragging things down. i think we a

did we maybe get too negative about the mall itself and retail given the gap, abercrombie, foot locker, children's place up another quick eight points and even game stop reported sharply better than expected quarters and those are mall-based stores. that's a setup for the beginning of the holiday rush that kicked off black friday and continuing till yesterday and cyber monday. two stages to redemption for macy's, the company. the first is a recognition that the dividend seems too outsides versus the actual earnings which therefore need to be augmented by real estate sales which they can do with alacrity. enough debt has been paid down including the $400 million tender offer just last night for some higher coupon debt and enough weaker stores closed that the cash flow going forward will be voluminous which is how they get out of a jam and starts going up again granted the strength of amazon makes me queasy about recommending any retailer than walmart or home depot the two larger chains performing relatively well, not spectacular in the case of home depot. ah, but there is a budding sens

retailers, best buy, l brands, walmart, target, foot locker, abercrombie throughout the rest of the week. we'll have plenty to talk about in the retail sector. david: indeed, nicole. thank you very much. melissa. melissa: senate republicans adding repeal of the obamacare individual mandate to their version of the tack bill. adam shapiro has breaking news on this story all day long. adam, what can you tell us? reporter: we'll get most likely tomorrow morning the chairman's mark which will include the provision to repeal the individual mandate from the affordable care act. one of the senators, pat toomey from pennsylvania, who has been pushing for this quite some time issued a statement which he said, i want to read this to you. the individual mandate is based on a flawed premise that the federal post should make americans buy overpriced health care plan even if they don't want it an can't afford it. this is part of the chairman's mark. it still has to get you there senate. republicans are telling us, sources say they have the necessary votes. people like senator susan collins has not comm

abercrombie & fitch up by almost 24%.n-focused hollister chain was the star for the company and make up for the namesake store. i was just thinking of the lfo ong "summer girls." someone remembers it. joe: short and of the yield curve, relentless grind higher continues -- short end of the yield curve. yield tickingyear down to 2.35%. this is the last month -- before, i showed how this was flattest week, the week since 2014, also the flattest in, like, 10 years. you can see how much we have traveled down since the middle of last month in terms of this curve. julia: the 10-year just stuck. let's look at currency and give you a snapshot of what the majors are doing here. at dollar-yen right now, but the euro is headed for its best week in more than two months relative to the dollar. german data showing the euro recovery remains pretty consistent, pretty strong. euro callshis is versus puts. these are three-month risk reversals. you can see a consistent reversal, now trading close to october highs. this is the best bullish se

there are others like dick's, abercrombie & fitch, which are flat on their back see if they can say somethinge about the holiday season and get going again >> i didn't say anything on target i want to be sure all costco shareholders are okay with recovery >> yes >> best buy thursday >> i like best buy pete loves it. >> love them they figured out how to beat up on amazon and win when they go head to head if that continues, which it has been, that's why the stock is headed toward 60, i am not in it very little retail exposure. home depot is one. >> buckle. >> don't miss cisco systems. >> that's because my daughter is the model for buckle online. caused me to look into the company, liked the company, i bought stock. >> congratulations to you. >> thank you foot locker? >> i don't think anybody expects a good number, given all the things going on in the space i am more concerned how nike trades around it i think it is well telegraphed i thought last week's adidas missed, revenue miss it was telling maybe seen the peak of adidas being the great story, gaining share and nike feeling it on the low en

. >> abercrombie & fitch and gap, all of them have had unusual activity talked about them over and over again leading up to black friday so i don't know that i would want to hold them past, that steph, but dollar tree is one i might be willing. >> i like dollar tree reporting soon children's place has been remarkable very hard to buy you have to try on kids stuff. i'm on the back and forth here with milan and brioni. my size hasn't changed >> look at this, 40%, buy one and get one. i mean, what the heck? >> buy one get two free. >> scott, i think the most -- >> no way. >> you two are the only people in america are buying suit still. >> that's true i should have jeans on underneath >> you look amazing, by the way. >> the analyst was right and where he was wrong in terms of lulu i think he's right and we've been talking about this for a long time because of the men and the children and the growth in the online all that makes since sense to me this stock is going higher nike got hit down to 51 and now that's 59. is it still a bile in the answer is yes they have got growth everywhere intern

but also earnings from walmart, cisco, tencent, gap, abercrombie. >> coke has an investor day also, which we'll be at. so there's a lot to watch and president trump is still in asia in the early part of the week. >> walmart walmart's going to bea big one for tech reasons. >> that's true. >> let's get to the judge on the intrepid celebrating veterans day. >> announcer: today americans from sea to shining sea honor our veterans, the men and women who fought to keep this great nation free. [ gunfire "halftime report" team is honoring those brave men and women as wells a we host soldiers, sailors, members of the air force and marines, our mission's clear, help guide them through this historic market rally giving them access to some of the best and brightest investors on wall street today we're talking stocks as we tip our caps to the men and women of the united states armed forces now a special edition of the "halftime report" with scott wapner live from the intrepid sea, air and space museum. [ cheers and applause >>> hello and welcome. it is great to have you with us today. we are so honore

the lett ambassador gee that abercrombie said she grappled with multiple sexual harassment experiencese said despite rising to high ranks over her 32-year career that still did not protect her from unwanted advances from a congressman during a meeting in the late 1990s. >> trying to kiss me. i mean, it was clear it was not -- it wasn't part of the policy discussion. and i said very kind of you. no thank you. again, i'm of a generation where my mother raised me to understand this was part of the cost of being in a male-dominated profession. >> reporter: the ambassador told us she doesn't want the next generation to have their work suffer from having to manage around the misbehavior of male coworkers. >> why aren't we defending the women who took the oath? it's time. >> reporter: she and other professionals shared concerns that even when harassment or sexual assault is reported through official channels, no immediate action is taken. she recalled sitting in morning meetings listening to her coworkers demean women. >> i was frequently the fly on the wall as some senior men sat around a ta

foot locker and abercrombie & fitch, shares soaring after they beat their best day in 18 years and gapoaring on earnings news. so for most of these guys -- i say most -- they've come out with better than expected numbers and, indeed, forecasts. that's what really wall street pounces on. meanwhile, the dow and s&p 500 are down as uncertainties continue. the capitalist code author ben stein, fortune magazine's adam lashinsky. both of them multiple best selling authors at that. ben, a lot of people are saying that if tax cuts don't come through, these rallies end. ubs out with a report saying, no, no, quite the opposite. these markets haven't even factored in the impact of these tax cuts. what to you saysome. >> i don't think the markets have factored in the input of the tax cuts, i think it would be good if we got the cut in the corporate income tax. there should have never been a corporate income tax, but these markets know that mr. trump has a lot of trouble getting anything through, and they still keep going up. obviously, trees don't grow to the sky, they're not going to you to the s

the idea that younger people are spending that is helping urban outfitters, abercrombie & fitch and gaputlier, down 13%, related -- the latest retailer to miss. they are blaming hurricanes, dragging down those shoe suppliers. stocks down as well. the bullish calls continue from analysts. yesterday, 2950 for the year and target of 2018. uso had parker of -- -- you also had parker -- and goldman sachs, 2850 for the end of 2018. what will be the driver? this is a fascinating chart we want to pay attention to. this panel, the stocks with high cap, and those with high cash return are the blue bars. you can see we started to see the stocks spending a lot of time on starting to outperform those that push more money into buybacks and dividends. similar situation for the bottom panel, the spread versus capex and cash returns, and the spread is pretty wide, the whitest we have seen -- widest we have seen since 2009. are we going to see a real cycle lead of the stocks to the 3000 level that many are calling for? or will be live support from the buybacks that have been so critical since the financi