that's the apron squad.e're dreamers, we're doers, we're hooligans. >> it's like, okay, you're part of this apron squad. now get out there and wake up and fight. we're going to be hustlers and we're tot going to sit on our laureles and we're going to make something of ourselves. that's what we stand for and that's so cool. >> mario batalli and martha stewart are two of the most well known squad members. and oliver ellen's pet big serves as its mascot. hedley & bennet headquarters is not just for manufacturing. the factory is a place for customers and the curious to get an immersive brand of the experience. >> it's like willie wonka and the chocolate factory. we greet you. we'll give you a hug if you're willing to take one. you get coffee. you get to try aprons on. somebody rides the zip line. it's a whole world. i want to see you post about it online, we're going to repost it and we're taking old school ideas and new school technology and jamming them together. >> the apron factory hosts all kind of events,

offering a collection of high-end, durable aprons, chef gear and accessories.edley and bennett revolutionized the way we look at it. >> we take it seriously. >> 29 yield ellen bennett is the burst of inspiration. since 2012, her vibrant, hand crafted designs are a cult favorite in 4,000 kitchens across the country. she was a line cook earning $10 an hour when she cooked up the idea of hedley and bennett. >> nobody thought about an apron that looked good and was functional. >> it was not comfortable, it didn't fit. i really wanlted to make a better uniform and make something people felt proud to wear in the kitchen. >> the art of the high-end apron became ellen's daily focus. lack of design experience didn't hold her back. >> dreams and ideas. let me tell you, we are talking proper bad ass fabrics. handmade in los angeles. every pocket corner is reinforced. i put it on their body, tie it on and they love it. >> the steep price tag wasn't a hard sell. >> you look at the craftsmanship and go, okay thrks is going to la last forever. it takes 12 people to make one a

this is the blue apron post.blic, when they make a trade. we heard from nicole the price is falling, down to about 10.05. we checked 20 minutes ago, looked at 10.15, 10.25. now you're looking at 10.05. they still haven't opened it. looking a little ominous. earlier this morning liz macdonald is with us, she was saying she thinks this would be a flop. you used that word. liz: yeah i did. stuart: you say it's a flop because it doesn't add up? >> i looked at their financials. they have never been profitable. costs a lot of money to get customers in the door. they have really muddy financial disclosures how much it costs to keep the customers and get them in the door. marketing expenses nearly tripled over last couple of years. number of people who ditched the service, 60% of their customers don't use blue apron after about six months. some say it is 70%. so they have to do a lot in the way of customer rebates and discounts. the way they show that in the financials really muddy. i don't think they're being really for

good blue apron reconsider -- could blue apron reconsider? this deal is scheduled to price next week. frankly, given where it is in the cycle of this deal, if something like that was going to happen, it probably would have already. a person familiar with the deal spoke to me and told me that management is focusing on refining its ipo pitch. they are really pushing this lifestyle idea that cory was talking about, how it is different, the fact that it is recipes and prepackaged ingredients, and that that is so different from what a grocery delivery company does. they will be pushing toward addressable markets. only about 1% of all grocery shopping actually happens online. frankly, areas that, amazon/whole foods could help, if people get more used to buying their food off the internet. for sures to be an ipo at this point, but i will definitely be keeping an eye on it. emily: we've got new reporting out about how this amazon/whole foods deal will actually work. job cuts at whole foods, price cuts at whole foods. what can you tell us? cory: amazo

. >> blue apron at the low end of a lowered range.he amazon effect and signals for an already slow year for ipos first up though stocks are looking to maintain upward momentum after the nasdaq's best day of the year and the saeps best day since april financials doing their part after the fed approved capital return requests for 34 of the largest u.s. banks a lot of the hikes and capital returns that we saw yesterday mostly above expectations. >> the market just figured this out. it's been so well telegraphed that there's going to be good news but managements and boards and banks themselves were more aggressive on the buy back and dividend intentions and they all got approved i also think you can't separate it from bond yields. so it's good news on capital return there's already pretty bullish sentiment toward financial stocks and i think you got an extra reason to say they can kind of move even beyond this because yields are going higher and the yield curve popped off of the u.s. and across the world. >> some of these increases are go

or any type >> i am going to refrain on commenting tomorrow i will be a blue apron chef >> blue aproner will cook with the ingredients they send me to my domicile >> you will bring some for sample >> you will in your kristen? >> yes >> literally wearing a blue apron? >> maybe nothing else. >> that's where the conversation ends coming up. ahead is the news report, but trader said it could run into high hurdles plus jeremy piven is going to the runway with a new sunglass line abitill tell us all out when fast money returns. the power of innovative thinking. the power of 100 of the world's top companies. the power of an etf. the power of qqq. the thinking we put in, clients get out. power your client's portfolio at powershares.com/qqq. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc. cotthat's why at comcast,tn. rto be connected 24/7. we're always working to make our services more reliable. with technology that can update its

blue apron box i want to take that sucker for a ride look at what we found. >> there it is, blue aprone. i'm going to bripg this thing inside go in the kitchen. going to cook up a meal for you folks. shrimp and fresh pasta with spinach and basil. outstanding. here's my spinach. of course, my fuselli is right here cann canned tomato sauce. schimpf and pasta knickknacks. wild gulf shrimp and of course, base ill going to close up the box and get started. and yes, my hands are clean, steve, if you're watching. we don't really measure, so this is what we're going to do. it's about a tablespoon. i know you can almost smell this garlic melissa, i know you're not familiar with that it's garlic, it's italian. very good for you. here's where things get a little tricky got to tell you, this looks pretty good, folks item going to sit down and give it a shot. you know what, not bad not bad at all blue apron, you passed my test, but the true test, the true test is back on the desk. fellas and girls, enjoy. >> all right, here i come. this is very hard, take the one from the back, please, thank you. >

blue apron needs to show investors it has the barriers to entry to keep amazon at bay.ompetition in the meal kit delivery business as it is hello fresh, green chef, home chef, chef d., purple carrot plated, the list goes on and on, michelle. >> yeah, martha stewart has gotten into the business by the way, i use fresh direct a lot. they're doing the same thing now. i don't need a week's advance notice to cancel i can do it before a lot of competition in that space, leslie. >> reporter: we won't go hungry, michelle. >> no, thanks, leslie. let's trade this if you get offered an allocation on blue apron, anybody taking it >> you just said it, leslie as well, too much competition in the space. blue apron added a whole few sentences talking about exactly that, so i'm not smart enough to know it's going to come out at price x and be up 20% that day i'm telling you what, this will be a very difficult stock valuation wise to get your arms around i think. >> i think this is a company doing what they should be doing with venture money, losing a lot of money to require customers to

blue apron at the new pricing will be dhauouble. that e-commerce players trade at three to five times. i think they have a distinct advantage versus the traditional grocers. i think the ones the company that is going to give, you know, amazon a run for its money are actually the walmarts or the costcos or some of the more traditional offline players with large brick-and-mortar scale that then can use the omni channel approach to compete against amazon and use some of the technology enable ment that they're seeing blue apron happen i think sets blue apron off as a potential acquisition candidate for the off line players that want to get to scale and compete with amazon. >> the battle of giants continues. godzilla versus mothra we'll see where it goes from here good to see you both eric and david. >> thanks so much. >> we want to get a check of the mashlg markets. the nasdaq giving back gains from yesterday you see the tech stocks down 1%. the nasdaq as a whole down more than 1%. bank supz better than 2% the dow is down 56. >> in othe

could blue apron consider m&a, or reconsider the timing? we have got nine days left for m&a to be on the table. this deal is scheduled to price next week. frankly, given where it is in the cycle of this deal, if something like that was going to happen, it probably would have already. what i can tell you is that a person familiar with the deal spoke to me and told me that management is focusing on refining its ipo pitch, really pushing this lifestyle idea that corey was talking about. the fact that his recipes and prepackaged ingredients and that is so different than what a grocery delivery company does. and they will be really pushing towards addressable market, not just the fact that they can expand, but only about 1% of all grocery shopping actually happens online. these are areas that amazon-whole foods could help if people get more used to buying their food off the internet. this seems to be an ipo for sure at this point, but i will definitely be keeping eye on it. emily: we have new reporting out about how this amazon whole foods will

spells major competition for blue ap n apron. it's good news for everybody who wants to buy blue apron. for "nightly business report," i'm bob pisani. >>> coming up, we go behind the wheel of a self-driving car. >> it is the next advancement in self-driving cars. going hands free in cadillac ct 6 with super cruise. that's coming up on . >>> the department of homeland security is calling for new security measures for airlines flying to the u.s. but is stepping back from expanding its ban traveling with laptops. in march, dhs prohibited personal electronic devices in the cabins of planes departing to the u.s. from africa. officials say there will be enhanced screer belongings at f airports. the new rules will affect 180 airlines operating in 280 airports in more than 100 countries. the existing electronics prohibitions could be lifted if official there is comply with the motors said the world needs more computer coders and that's why mary barra announced a new push to train engineers. she said cars today have hundreds of millions o

what does that mean for blue apron?it is another challenge they are going to have to justify on this roadshow that launched today. this is a company that operates in a space. the delivery is fueled by competition. it is expensive to operate in because most of the costs go to marketing. it is a land grab for customers. this is tricky for blue apron because whole foods will have the legislative power that is amazon. amazon customers will have access into whole foods. the top 2% of u.s. households are willing to spend a little bit more to get the quality that hold these promises. that happens to be the same group. --the cup 2% of households are willing to spend a little bit more to get the quality that whole foods promises. when you think about where blue be, as growth is going to have to figure out how they are the ones mapping visit dollars from this high-end consumers and not whole foods market the amazon. a very different business from whole foods, amazon. how does that change things. they are very different businesses

>> on blue apron >> no, on amazon and whole foods.ho did you call >> i thought it was great. >> you did >> yeah. >> because >> that first off was a validation that either can't or won't build everything they've been in grocery for ten years and they're buying a grocery store. this is them telling everyone that they must buy some stuff, they can't build everything, or at least they won't, right and we thought that it was a validation of, you know, omnichannel, right food is not like all things. it's not going to be totally online and it's a validation that the grocery industry is being disrupted, right all of which are positive for us and they don't really do what we do and i would never underestimate amazon that's a crazy thing to do but they're not doing what we do and, yet, they've got a lot of o work to do to integrate whole foods. >> meaning somebody like you might get bought for a big price, because it's hard to put this together. >> we're not trying to sell the company, but that's certainly a possibility. and they might buy some

discover how we can help find your unlock. . >>> blue apron expected to go public tomorrow.ive. aditi roy looks at the winners an the loser >> that's a nice play on words there, and we'll continue with the puns the market is definitely poised for a food fight blue apron is tapping into a trouted market that could reached 66 billion by 2021 just check out the competition plated, hellofresh is valued at $2 billion euros but had a down round and call off the ipo, then there's freshly, and achieve'd, and unilever backed sunbasket, but also some notable companies have gone belly you have spring once valued -- shut down, so did maple that was backed by david chang and launched to much fanfare, but if burned through cash quickly. and then there's munchery, once valued to $275 million it's gone through layoffs and recently -- but the company's ceo tells me that munchery was profitable in all of its markets in may, a first for them, he says what are the ingredients for success? industry watchers tell me many use conventional mail rather than kurtiers for delivery, driving down the op

blue apron needs the cash.you look at their first quarter cash situation they had , $61 million on hand, and they had a cash flow deficit of $74 million in that quarter. they told investors look, we , have cash and borrowing to get us through at least 12 months of runway. that is not a lot of time. this is a company that has to out market -- outmarket its competitors. and it is continuing to try to build out its logistic network and fulfillment centers. whether you wait a few months or go out now it will be a question , of valuation to get the deal done. emily: what does this mean for tech dealmaking and ipo plans going forward? alex: it is coming back down to the valuation point. it seems we had a lot of the tech deal pipelined for smaller companies to work their way through. you have a lofty valuations because investors were chasing these returns, and now it seems realism is sinking back into the market. aprons niche, this blue deal cast a shadow underneath a massive shadow of amazon on exits in particular. y

blue apron could reach $35 million by 2021. there's hellofresh and freshly along with sun basket.e have gone belly up. sprig and maple went belly-up. ultimately, it burned through cash quickly and had razor thin margins and was eventually acquired by the uk and munchery has gone through layoffs and recently raised money. so what are ingredients for success? industry watchers say the common thread among the successful companies is they use conventional mail rather than couriers for delivery driving down operating costs but experts say blue apron's biggest threat could be the combination of whole foods and amazon setting up for a food fight there. back to you guys >> we'll see what happens there, aditi. jason, really quick, when whole foods/amazon hit, people wondering whether the deal would survive at all will it? >> yeah, i think blue auppron hs figured something out. i don't think whole foods will get into the base for a little while. and they figured out something special, which is if they owned the beef producer, if they owned the farms and they go from the source to the table

blue apron has filed for an ipo.delivery service will be listed on the new york stock exchange under the ticker aprn. each month, blue apron delivers about 8 million meal kits, complete with recipes and raw ingredients. the company has been signing up subscribers at an impressive clip. last year they generated between seven hundred $50 million and $1 billion in revenue, according to one person familiar with the finances. our bloomberg ipo reporter alex barinka joins us from new york. techonomy ceo david kirkpatrick is also with us from l.a. what exactly do we know? alex: we know now they are moving forward. according to our sources, they delayed this ipo process as they tried to preen up their finances. we know the company posted a net loss of about $55 million last year on revenue of about $795 million. revenue did double in 2016 from 2015. you can see now that they have some growth to preach to investors as they are down this ipo process. what i think is interesting, digging into this, you do start to see how they

blue apron it's ipo price tonight. from now later, the biggest banks get graded by the fed to see if they have enough capital to survive an economic shock and to see if they could pay out more. we'll get the results and potentially a flood of dimpblds and buyback announcements. joining me today, michael san toely along with rebecca patterson. welcome to you michael, bill more buyers than sellers today. it is odd to see the strength of this on no employee. >> not much, i think the message from today is -- and it's a consistent one for a while now that the market is label the tough to spook yesterday was really the third time in three months that the nasdaq had a pretty good jolt to the downside, down more than 1%. air pocket, shake out, but then the market has had a hard time sustaining downside momentum, today was kind of a reversal of that didn't quite recoop all the nasdaq losses of yesterday, but almost so, so to me, it wasn't so much news-driven, it's just that hey, the story hasn't changed, credit markets aren't s

open -- blue apron needs the cash.you look at their first quarter, they had $61 million on hand, and they had a cash flow deficit of 74 main in that quarter and told investors, look, we have cash and borrowing to get us 10 months of runway. that is not a lot of time. this is a company that has to out market its competitors. and it is continuing to try to build out its the just ask network and fulfillment -- it's logistic network and fulfillment centers. for go out now, it will be a question of valuation to get the deal done. what does this mean for tech dealmaking and ipo plans going forward? it seems like we have had the tech deal pipeline companies worked their way through. you have some locked evaluations because investors were chasing these returns, and now it seems like realism is sinking back in. cast a niche, this deal shadow underneath a massive shadow of amazon on exits in particular. you have sun basket trying to go out. you have these smaller firms that venture capitalists have thrown money into the delivery

. >>> and blue apron does some serious chopping ahead of today's ipo. it's thursday, june 2920, 2017, 1/4 white sox 2017, "worldwide exchange" begins right now. ♪ good morning welcome to "worldwide exchange" on cnbc. i'm sara eisen >> i'm dominic chu in for wilfred frost. it's throwback thursday, here's a one-hit wonder, "i'm blue. >> you wremember this. >> who could forget. it was all over new york >> all over cincinnati, too. glad to have you here. >> good to be here >> let's check in on the global markets after broad-based rally yesterday for u.s. equities comeback futures set for a higher start dow jones up 33. financials were a big driver after the stress test results. nasdaq up 1 point. s&p up 4 the banks led the session yesterday. they came out with much bigger than expected cash returners in the forms of buybacks and dividends. the fed blessed all of it financials got a further boost after the close. there's the early action in terms of the xlf, the etf that tracks financials, up 1.5 in the early action what's helping the banks is the ten-year t

blue apron issue, average sales are flat according to the s-1. question is does blue apron come to next app dynamics meaning cisco dynamics before the offering well, you know, next week will someone look at a william sonom say this say great marriage glchlt interesting they're seek 3g$.2 billion valuation. we'll leave it there, guys lots to talk about these days with ipos. come back. >>> and when we come back on "squawk alley," details on youtube's run to number one in terms of monthly active video yusers first, rick santelli, what's on your radar today >> everybody smiling say cheese the last open outcry cheese auction is going to happen in the next few minutes this is a wonderful pit down here then we'll still exist they'll have cash market options just like milk and cheese are still around but it's the end of an era maybe the beginning of a new one. we'll be talking about fattening your wallet after thbrk.e ea >>> today on "halftime report," tom lee just dropped another bomb on stocks he's with us live with a note every investor needs to see t

jenny: this is our wall-o-aprons over here, basically.anchors. so i brought robyn, howard, and roger to tilit. they're a premium textile manufacturer of aprons, chef coats, shirts, and it really will help establish this entire textile department. robyn: these are beautiful. lemonis: what i remember seeing is $57,000 was the total textile sales. can you sell 10 aprons a day at an average price of $70? howard: absolutely. roger: i hope so. lemonis: so $250,000 a year. i think if you dedicate some space, i think you could do $250,000 to $300,000. howard: i think so. ♪ lori: we stock probably 90% of the libbey catalog, which is over 1,000 items. lemonis: wow. we also need to build out robyn's glassware department. we're at balter sales, one of america's largest distributors of libbey glassware, the number-one glass company in the americas. howard: the look of glass, you know -- that didn't work for me. lori: can i just tell you what my wall does? robyn: yeah. lemonis: yes. lori: $5 million. lemonis: i'm sorry, howie, can you come on back? thi

appetite for blue apron, the company set to price assets after the close, it ipo range has been slashed. puerto rico versus its creditors , former new york governor george for jackie, and advisor -- george for tacky, and advisor, will be joining us. day,ay into the trading partially in the green. julie hyman is with us. more in the green than we were the nasdaq was unchanged at that point and it seems to have bounced off of its 50 day moving average, moving higher along with the other major averages. what is leading is not technology, not in the s&p 500. it is the financials, up more than 1%. a broad-based rally with no sign of red on this wheel. materials, industrial, consuming .ery -- consumer industrial as for the financials, a couple of things driving the gains. today, the bank, the second part of the bank stress test coming from the government after the close. more importantly, details of their plans to return capital to shareholders. they have to undergo the stress tests first. and other types of financials rising. america rise, prudential, raymond james all gaining, part of that

we will have the in a disappointing debut for blue apron.pricing starts way below what investors had. you are watching trendsetting. -- "fbn:am" ♪ today, we're out here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease and lower your a1c. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious si

blue apron is peeking their ipo.the head of the drone racing ld, aeall that and more is coming up on "power lunch. track record. well, have you seen her work? no. is it good? good? at cognizant, we're helping today's leading banks make better lending decisions with new sources of data- so, multiply that by her followers, speaking engagements, work experience... credit history. that more accurately assess a business' chances of success. this is a good investment. she's a good investment. get ready, because we're helping leading companies lead with digital. (baby crying) ♪ fly ♪ me to the moon (elegant music) ♪ and let me play (bell rings) >>> but, there are some significant headline risks here. for one, getting new customers is expensive blue apron costs have skyrocketed. whole foods could produce significant competition here as well >> the environment itself is perfect for low volatility that's w . >> big disrupters and selling mattresses online. it is like 1999 again. >> okay, has the ipo market reached the top? her

other concerns include blue apron's lack of profitability and high marketing costs >>> now, delivery hero has arrived on the market. shares have risen in the frankfurt debut this morning as the takeaway startup is on track to raise 1 billion euros we're up 2.2% at 2605. niklas ostberg joins us from frankfurt. pleasure speaking with you con grade lagratulations on that hour of start. what do you think is the allure of your company? >> thank you i think they've been a good company. i think we've built a great service. obviously we're proud. i'm glad we had a good start this is really about the long-term, about the next 10, 15 years to build a very good service. i think we're off to a good start. really, this is long-term. and i think it's a fantastic day for us delivery hero is a fantastic day for investors and for the whole european tech scene. >> it's also remarkable given that the blue apron ipo yesterday saw less demand than initially expected the appetite was quite low it raised a third less than it hoped. why do you think your story and the interest in your company is so differen

before the chang in the world blue apron could be valued at $3 billion.at sends you food and you make it at home i would rather have amazon send my prepared whole foods meal to home >> as would i. we did blue apron for some time. >> did you >> yes it took a real long time to make that stuff and it was good but it was never enough. it was a running joke. we needed to double the order size for everything. >> you can just call whole foods, they'll have an uber delivery, it will be at your house in three, four minutes and you'll never have to call blue apron again. >> one of the casualties would not be just grocers but fast casual because the emphasis is on prepared. >> one of the things that whole food does best -- if amazon wanted to for prime, they could give away sides. you could have the brisket that they have, which is quite good and they'll give you the potatoes prime, they'll put in whatever they want to give away this is going to be a giveaway if kroger has to sell eggs, these guys have to give away eggs i'm shocked about that blue apron. that was st

okay. >>> meanwhile blue apron, ipo, kind of underwhelming today.hat it is moving into hook up with whole foods? who knows. nicole petallides with all things healthy and right, all things called food pyramids and the like. nicole, what is going on here? >> good news, blue apron open and held bottom end of already lowered range. it was 15 to 1bucks. it was lowered to $10. it opened exactly at 10 bucks. it went as high as $11, a 10% gain. this on a day where we're seeing a selloff in the market. dow down 160 points. nasdaq turned negative for the month. but blue apron holding its own. looking at valuation. it was really exciting outside. there were a slew of people. they brought hundreds of guests, the ceo spoke with me. he was excited about the ceo and pros special for the company. he was happy to bring everybody along. also ipo price, valuation of about 1.9 billion. that is certainly well below the road show in march, 3.2 billion and couple years ago where he did a fund-raising event. it was valued at 2 billion. so lower than prior estimates. howeve

. >> despite an improving ipo pipeline blue apron ahead of the nysc debut tomorrow. >> senate republicans hoping to get a vote on the health care bill after the july 4th recess that fols the decision to postpone a vote amid gop senators passage of a trump care bill seems unlikely due to political obstacles. goldman says quote estimates of the potential increase in the uninsured population seem unlikely to improve even after revisions to the bill. public support is weak and divisions appear to pose too many obstacles people trying to make arguments what could bridge some of these divides. more help for opioid addiction but others argue it's just too wide. >> they're pushing back on it, anything comprehensive that would represent an overhaul of the aca and it's funny because it's echos more reasons to talk about tax reform too we're not going to get a big comprehensive reform package so it's interesting. obviously the process is going to play out and it seems like mitch mcconnell left a lot of room in there. a lot of play for whatever has to be done. >> it doesn't add confidence to investor

shares of aobc down nearly 10% in the premarket what happened with blue apron yesterday?> priced at the low end of a lowered range. it mostly hung around a bit above the ipo price. still skepticism about the business model and whether it can scale. they got it out before the july 4th victory. >> bang-on flat as wilfred frost would say. >> not what you price it for >> exactly >>> more stocks to watch cara therapeutics falling after posting mixed results for its osteoarthritis drug. patients treated with the drug did not experience significant reduction in joint pain. >>> bayer lowering its outlook for 2017 the company warning it will take an earnings hit due to high inventories in its brazil operation and weak performance at its consumer health division. >>> roche is buying mysugar for an indisclosed price this as roche moves deeper into app-based health services. >>> a scaled back version of president trump's travel ban did take effect last night the measure is stripped of the provisions that sparked chaos at airports pm applicants. the government altered its definition o

across markets, blue apron, grand public debut. aiming for a market value of as much as $3.2 billion in the initial public offering, which could make it one of the top 10 ipos of the year. whichget to the markets, close in about two hours, to get a check on what's leading equity. julie holland technology down, now it's leading on the way up. mitigating earlier advance, but nonetheless really climbing today, bouncing back from the kleins that we had seen as of late for tech stocks. that said, the dow and the s&p are making new records today. not the nasdaq, it still has too far to climb back. but something interesting has been going on over the past week as technology has been battered and come back. chart look at the one we of a five day return you are seeing financials and tech neck and neck after first being pulled back. it has been bouncing quite a bit. if you look at the banks today, we have got tech names, like apple and facebook, going higher , but also these guys contributing quite a bit to the gains we are seeing in stocks

emily: blue apron trading below the ipo price.n europe, having an opposite and better kind of day on his first day of trading. tell us what happened. caroline: a sigh of relief for the european tech sector. we get the biggest german ipo of the year. it is how you get your food delivered by an app. it rose on the first day of trading. that is pleasing the investor base. rocket internet owns 35%. a sigh of relief for it and its shareholders. it is interesting the sliding scale of delivery. it is bigger than its rivals in terms of the month restaurants it has. it has 42 markets, 150,000 restaurants. that is three times the amount have.taurants others comparisonsow you of how delivery hero is going to be out its rivals in terms of stock performance. in 658. you will see how its peers half performed since they went public in 2014. in the blue line, that is the u.k. food delivery company we have seen it outperformed. it has jumped up doubling since april 2014. you see grubhub in white doing well. i am sure delivery hero is hoping it can

i've long wanted to try blue apron.ard great things. >> there's a lot of competition in the space. >> how did it work out for you? >> i didn't try blue apron. i used a competitor. i liked. i liked it. forces you to try new things. >> i love the idea of it being included and not shopping for 19 ingredients. >>> all right, "early start" begins right now. >>> the president's travel ban takes effect tonight, and no legal challenge can stand in the way. new guidelines released overnight lay out specifics on who can and cannot enter the u.s. >>> a top vatican official will face charges of sexual assault. this morning he's defending himself before heading home to face a judge. >>> health care is working very well. we could have a big surprise with a great health care package. >> teasing the next episode. president trump sending a message of sorts on health care. will it be enough to get republican senators all on the same page? a very heavy lift remains on that health care bill. good morning, everybody. welcome to "early start

blue apron launching its ipo road show today.. >> reporter: blue apron will have two weeks filled with investor meetings asking them to fork over half a billion dollars worth of stock and value the startup at $3 billion in the ipo. now, we dug through the 200-page prospectus to find the pros and cons of this deal, and on the positive side blue apron has doubled its revenue to $800 million between 2015 and 2016. that's largely thanks to consumers wanting more of that healthy, fresh food, and if a customer bought a meal kit there's a 92% likelihood that they bought another one as well. but the risks here are very important, kelly for one, blue apron's net losses are widening as marketing expenses increased 930% from 2014 to 2016, and shareholders won't have much of a say since blue apron has multiple classes of stock, but what everyone is focused on today is the competitive threat posed by amazon's combination with whole foods and blue apron even added this line to its prospective just today they say business combinations and conso

blue apron aiming to raise 1$10 million.t number could go higher as the company sees rapidly expanding revenues. net revenues grew more than ten times between 2014 and 2016. blue apron says it had more than 1 million customers at the end of march, that's up from the 879,000 at the end of last year. lead underwriters are goldman sachs, rivals hello fresh, plated and marlee spoon are gaining fractionment i had a chance to test a couple of these. >> i was wondering if you were in an ad for the company. >> i tried these out. i wanted to compare them. my take, and i think that maybe customers would agree, i think blue apron has the better flavor, better quality meat. i think it's difficult, because it takes so much time. it's so complex. the chopping -- have you tried it? >> where is the invitations to these dinner parties you've been hosting? >> y'all are so busy. >> it has to be afternoon tea parties for us. >> you can order three different meals for two people. it's all about how you order. >> i think it's very hard. you have

blue apron gearing up for an ipo. it will start training tomorrow facing headwinds as he tries to ward off the customer. joining me to talk about it fox business network dagen mcdowell, goldman sachs peter kiernan and ceo fox news contributor robert wolfe is with us. >> great to see you. maria: great to see you. it's been too long. i was off monday and tuesday. they can't afford to get back with you. >> i watched you both. maria: here we are ahead of the july 4th recess. the boat is in until the end of july. i don't know that this is as much a blow as a lot of people are talking about. the whole time they went to get this done before the august recess. not before july 4th. >> over the recess committee democrats and organizations behind them are going to be a robocall for move on.org fame did you know 20 million americans will lose their health care because the republicans? there's pushback they would each get those numbers in the move on.org callers. it's common knowledge. really that's common knowledge? the republica

one stock that has not been faring as well today -- blue apron -- in just its second day as a public company, shares are below the ipo price of $10. down by 4.7%. we did see them rise yesterday -- not by much, but they did rise in their first day of trading after blue apron raise $300 million in its initial public offering. the quarter, we talked so much about volatility, which has been rising recently, but for the quarter it is the lowest on average going on way back to 2006. mark: i am going to bombard you with specs. we are up for the day, but on track for the fourth weekly drop, the longest losing runs in june, 2016, also the biggest weekly fall since november. for the firsting quarter in a full year today --. it is up almost 6% versus global stocks, the all country world index. best first half of your since 1998. those are your stats. so much to tell you about -- gdp up by .2% in the first quarter. weakest in the year -- on -- on revised from the first quarter. consumer spending has kept the economy chugging along since the brexit referendum at half the pace in the previous quar

dealmaker blue apron going public today.hey're expected initial public offering now it 10 bucks a share. blue apron would be valued at about one point i'm really in raising a third less than the come to me that thinks supporting the aps for the deflator price ipos after we are showing snapchat. this stock has trouble since going public back in march. you can see the pressure on snap. a famous friend from a galaxy far, far away from the men the r2-d2 unit used in multiple "star wars" films for $2.76 million here that is according to "the associated press." 43 inches tall assembled with parts of the original trilogy. the buyer of the unit not revealed. other items including luke scott walker's lifesaver in darth vader's helmet. and the geek on "star wars," but there was no bidding for me. coming up next in a big rigs pass the federal reserve stress test. but it means for the market. hollywood pushing for inclusivity. the motion picture embedding 700 new members after criticism for a lack of diversity. by the industry is changi

well, blue apron is going public today. meal kit delivery service selling shares at the low end of a reduced range. the offering value of this company at $1.9 billion. potential investors raised concern about the impact of amazon's deal buying whole foods could have on blue apron. back over to you. >>> let's talk about amazon, the company changing up prime day. >> reporter: yeah, that's right. so amazon will kick off its third annual prime day on the evening of july 10th. the sale is expanded to 30 hours this year. they're also offering new deals as aump as five minutes. prime day is encouraging people to sign up for the prime service and also in markets news, wall street could be poised for more green arrows today after the market posted strong gains yesterday. banks could lead the way after the feds said the nation's biggest lenders passed their stress test. a shock or financial crisis, so big news over there. >> kate, thanks. >>> we continue to follow breaking news. a veteran is killed after a confrontation in a bar lead

have you just ordered it to use it to get grocery delivery 7% and there's blue apron 5% of the publiccall it 1 in 5 have used the internet or an app to go online and order food i think if you look at these two areas here, blue apron and grocery deliveries, there's a lot of room for growth in both those areas. forget about living in new york. the whole country has a lot of room for growth. >> charlie evans tomorrow? >> yes >> charlie evans, chicago fed president. we'll be talking to him at 10:40 tomorrow morning >> steve, thanks >>> let's talk about these stocks you need to worry about restaurant brands like you do supermarkets all of a sudden >> why are you glancing at me sideways i saw that >> couldn't get -- >> just -- >> that's fine let me quarterback this. just purely on technicals, still, it's amazing. the best set-up in all of the publicly traded restaurants still is mcdonald's. and it's global. it's not just about what's going on here. but it just looks -- that up trend is so pristine each time it gets oversold it backs off just the right amount. the buyers come in the worst, b

about the price of blue apron's ipo right now. the $9.4 billion merger between walgreens and rite-aid is off the table in the wake of heavy scrutiny by antitrust traders. but instead, the two pharmacy giants reached a new deal whereas walgreens will buy half of rite-aid stores instead of the whole. it is, however, a problem for rite-aid, which is just plummeting 26%. walgreens, though, up 1%. and as we see house republicans have a message for the white house, it's time to abandon the health care bill and move on to something bigger and better. what is that? charlie gasparino with the details. he's breaking it next at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. bburning of diabetic nerve pain these feet... jumped into city life as a kid... ...and kept my town moving. but i couldn't bear my diabetic nerve pain any longer. so i

that's blue apron. right, friday morning, june 30th, who is with me, liz macdonald, scott shellady and jeff sica. i want to start with politics. scott, the president's tweet yesterday, does it hurt the market? >> no, i don't think so. i think congress hurts the market. i think the rest of america watching congress continually throw up on themselves hurts the market. these are grown gentlemen. this tweet, is it a distraction? maybe, i don't want to call it, but at the end of the day, they need to get something done. and i heard the senator you had on, and i was as surprised as you. let's talk about this, what do we have the votes for, why do we have 50 votes from and go from there? this is now beginning to be a little bit of a grandstand, be careful what you wish for. if these guys can't get their act together, they should be put out to pasture. stuart: it's exasperating. jeff, the tweet yesterday, did it hurt the market? >> here is how it hurts the market. investors don't care who got a bad facelift and

blue apron began trading on the new york stock exchange today. 10 tlrs r the company's initial range of 15 to $17 a share. the ceo says he still sees a lot of growth potential. >> one of the big opportunities for blue apron quite frankly going forward is to even grow that revenue generation for customers by going into new categories, more products in the same customers we've already acquired and deliver and develop new products for some of the customers today that we don't currently serve. >> all right, so they opened at $10 a share. and they closed at $10 a share. ending the >>> 21st century fox is nearly $12 billion deal to buy the rest of european broadcaster sky hit a roadblock today. british regulators raised concerns that billionaire fox owner, rupert murdoch, would have too much control over the u.k. media. the deal will be b examined by britain's regulators. shares rose to $28.19. >>> mccormick said acquisitions and new product demand helpeded the company report higher than expected revenue. also came in ahead of forecast, but the company slashed gints for annual operating sh

. >>> meal kit company blue apron says it could be worth $3 billion. is getting ready to start trading on wall street later this year n a filing it says it will initially sell 30 million shares at about $16 each. blue apron's revenue has grown tenfold as more and more people look for healthy and convenient meals at home. >>> apple and other technology stocks led a rally on wall street driving them to a record height again. futures are pointing to a higher open this morning. >>> ups is rolling out new peak shipping charges. the company's adding a charge of 27 cents for shipments to residential customers from november 19th to december 2nd and then from december 17th to the 23rd during the holidays. there will be an even bigger fee for overnight second or third day deliveries. that amount is under a dollar. oversized packages will also have an added fee. >> a pittsburgh family's home improvement project has been a source of annoyance for the last 13 years. >> it starts with a soft beep, beep, beep, beep and it gets louderrer and closer together and that w

blue apron going public today. the price ipo last night selling shares at the well end of the reduced range. they val ute company at about $1.9 billion. potential investors raised concerns about the impact amazon's deal to buy whole foods could have on blue apron as well as its high customer turnover. shares will exchange on the stack exchange. >> thank you. >>> city of san jose is trying hard to demolish the willow glen truss he will which say protected sirk. >> this has become quite the fight. . mesh cuery news reports that the city manager in san jose is asking the california historical commission to reconsider its decision it made back in ny place that old railroad bridge on the state's hoork register. they say it is historic and should be restored, but city officials disagree. it's the latest chapter in a fight that's been going on for four years. >>> if you'd like to have a say in the future of transportation in contra costa county, todayy your chance. they're hold a public open house tonight in walnut creek.

items like blue apron are more affordable than takeout or ordering in.up leaving the meal kit delivery service after six months. >> really? >> because there's work to do. >> yeah, yeah. so a little interesting tidbit. >> on an unrelated note, your hair looks fantastic. >> thank you. thank you. likewise. >> it works. >> thank you. >> i didn't see that coming. >> hey, al. >> how about my hair? thank you very much. let's look at what's going on right now. we still have severe weather to talk about especially in the midsection of the country severe thunderstorm watches, flash flood warnings. the last three hours these storms have really been firing up on their march to the east. can you see right now we've got 15 million people at risk for strong storms especially enhanced risk in the midsection of the country. tomorrow we've got more of a risk again from oklahoma city stretching all the way to springfield, missouri. 21 people at risk for strong storms by late in the afternoon. another 4 inches of rain especially into the mid mississippi and ohio river valle