stephanie hare, principal director at accenture research, a global management consultancyjoins me nows has been going on for a trial now but you get the impression it escalating every hour or so. that's right. donald trump saying he was going to impose tariffs on $50 billion worth of goods in china said it would retaliate and trump has set he would do a further $200 billion worth of goods, 10% tariffs. he has really upped the anti—on this. when we see this headed. markets are nervous. they'd been fairly sanguinary few days. you get the impression this is not going right direction. we are looking at something like 0.4% of the chinese economy is going to be affected. something like 90% of chinese goods would be touched. it is targeted on what we have to think about is why is this happening. that is, trump is restoring —— responding to that china 2025 programme. china wants to dominate high skill high industry sectors. this is really a battle about who is going to be the world superpower in 2025. when it comes to technology in exactly. is not going after the things you would think that a

walgreen's is way off its highs, only six points off its lows if they get it together, then there is accenture this is information technology consultant, and an outsourcer. as much as i adore these guys, the stock runs up in the first quarter and sells off. you will likely get another buying opportunity on thursday if that pattern holds. we heard from chatter, conagra it loves the frozen food aisle we know ceo is a season deal maker. i think we need the way. earnings or acquisitions, pinnacle owns birds eye. check out mccormick. space maker rarely misses. i bet this is going to be no different. which is why i keep old bay on the seat after the quarter nike. name rarely comes up after tariffs or boycotts. nike and under armour are strong and they have my blessing. thursday also the day we get the same stress report cards that will allow the well graded banks to boost their buy backs i think citigroup, is going to be booing stock hand over fist i expect the analyst to go nuts about them on friday what would i do? i would buy citi on wednesday. and i would buy it aggressively. finally on friday,

fourth is accenture, acn helps other companies get th most out of their technologies and incredibly well-run't surprised when they joined the club this year. these guys make it easy for their clients to upgrade their systems in order to embrace the cloud or mobile or advance data analytics. okay, you rarely hear it being touted a except on the shstock has a tendency to sell off after earnings even when the numbers are excellent. plunged from 162 to 14 search on the news and that is the best moment to buy. you might get a better buying opportunity. every time it comes in after the quarter, we tell you to buy. fifth is booki holdings, formerly known as priceline. the investors were worried that the online travel space was crowded and turned out to be unjustified. i don't dislike this one, but i do think there are better opportunities out there. opportunities like number six, salesforce.com thats another recent edition to the club. second cloud king to join the group. ove have watched while the ceo has built the greatest in history. generation of smaller software of developers. keeps generating

on the growth side, let's look at something like accenture for nike. their growth is strong. we are seeing 20%, 30% growth as well as out of the u.s. and emerging markets. still somethese are great ideas in the united states. i would rotate some money into the stock that has underperformed, but still has a good outlook. let's talk about things like industrial, caterpillar. things like that. how do you feel they are in the second half of the year? carmel: let's think about what they told us in their last earnings call. they said they hit peak margins. they continue to come under .ricing pressure there's no sector that is most at the nexus of trade than the heavy industrials. cap definitely -- cat definitely has a target on its back. there are certainly substitution products for that kind of company. own brand toir sell. japan has equally good products. is at a disadvantage. alix: it seems like what you are going to tell me is that small caps and the mastic random domesticll -- and stocks will do well. .he -- versus the s&p you can see the monster rally from this year, but they

as the chief success for the fda accenture you that the laboratory safety is a high priority for me and the agency. fda remains deeply committed to working closely with its partners and fully using the authority of congress to provide facilitate and accelerate the development and availability of safe and effective countermeasures. while we have made significant progress we know that more work remains to be done and we look forward to partnering with congress and stakeholders as a work together to further enhance bio preparedness. thank you for inviting me to testify today. i look forward to answering any questions you have. >> thank you very much. i ask unanimous consent that the contents of the document finder the introduced into the record into authorized staff to make any appropriate reductions. without objection, the document will be entered into the record. with any reductions the staff determines are appropriate. is now on time for members to have the opportunity to ask questions and i will recognize myself for five minutes. let me begin by saying that in my ten years in serving i

we like accenture as one oracle and cisco have not had as great of runs and we think the economic backdrop bode well for them. >> is the idea that companies have been encouraged to get away from giving quarterly guidance as we reported yesterday, m mr. buffett and jamie diamond urging companies to do this. only one out of five do it anyway is that going to make your job a lot harder sns going to make it a lot easier as a portfolio manager. we're long-term investors. we do follow the trend of not only earnings growth but cash flow growth. but to get ultramyopic about a quarter by quarter number for me is absolutely insane >> and it's a number that -- not the estimates. >> it's the numbers that count over a longer period of time and what we're looking for are companies that actually are going to invest in their business and get a high return on that investment and actually create sbriintrinsic value. what happens today is that companies get penalized for actually investing in productive projects that perhaps will take three to four years to pay off, and that's hence the reason why you're see

player they cover it was reported and we have wondered in that case even whether newer entrants look accenturehe data -- for the data, yeah >> what do you think in terms of bush's departure, forgetting the personal stuff you can take the company as far as he could and therefore is it reasonably the right thing to do >> it hasn't squeezed the operating cost and the margins there could be opportunity you would have to right side for a company that's seeing slower growth than you have in the history and valuations are reflecting still a high growth company in the 20%. >> you would hire her at honeywell. >> you could ask her that. we'd start negotiating salary right now. >> you can ask for anything. >> do you think he will do it at the belmont on saturday? >> oh, yeah. that's funny maybe! i'm now the expert on the derby. belmont. >> coming out of the fourth hole tomorrow trained by billy mott and ridden by ines ortiz, 9-2, who do you think will do it? hoffberg will win the belmont stakes >> i think you have another career just you in the voice >> it's going to be on nbc so i don't care who wins, b