campbell's soup.nity there as the company that we knew was already in the middle of this crisis like strategic review facing a number of -- business under pressure for a very long time. a lot of people thought it's small enough now and it would be in play. can this review produce some restructuring that would satisfy investors. >> 20 seconds left will this influence the nasdaq tomorrow with the whole tech sector >> i don't think apple is enough of a bellwether for the market and give you a net benefit of the pop, in the dow and the nasdaq. >> and it would lead to a better feeling with the group and about to have a mess or a big miss >> up 93% after hours. that does it for "the closing bell." "fast money" begins righ ♪ ♪ >>> and there you go we do start right now, thanks, will of and an earningsel bra , celebration. earnings just out. shares are jumping 3% after hours and the stock at an all-time high and inching, creeping, clawing toward a $1 trillion market cap and full team coverage and the bearded

campbell soup, the activist investor download looking to gain some work for a sale of the company.ng us now, taylor riggs. what is amazing, it is no longer just suit. once we have a pie chart showing where they get their revenue. what if i percent comes from suit. a lot of it is premade meals. i think this stems from low rates. if you can't grow organically, they have been growing through acquisitions. you have this big company that isn't just suit any more. that leads us to today. there was a report that we have not verified independently but some reports we are reading out there say they are interested in a sale of the company, talking to the campbell soup emily members that own 41% of the stake. other shareholders to look at a deal. he may go public with the information in august to urge the board to show more urgency and wants to drop the other alternatives and focus on a sale. the company came out in may and talked about doing this strategic review. he said let's just focus on a sale according to reports. a lot of moving parts. scarlet: let's focus on the plan at hand. very bu

producers for example that there are likely to increase prices we've seen something similar from campbell's soup with the higher tariffs on steel and now if you also look at catch up and other goods for example they don't have to necessarily high margins so it is pretty likely that consumer prices will increase not just in the u.s. but probably all over the world as still for a surprise us thank you very much scott at the new york stock exchange. they're calling it mexico's first electoral landslide sunday's election was a historic one and will give president elect and his men well unprecedented power to make sweeping anomic changes but like his u.s. counterpart donald trump his political agenda can change wildly from one speech to another so we are taking a look at what could be ahead for mexico. the economy was at the core of an dress manual lopez obrador as campaign his strategy from mexico follows three main strands. mexico is one of the largest producers of oil in the world the black stuff accounts for about a third of government income obrador has long criticize the opening up of oil produ

in the broader car industry but we also have companies like campbell soup for example so they reiterated that for example their canadian business really got to hard terrors from canada this past sunday so it really depends on the industry but overall the u.s. is far less dependent on exports than the european union or also than china but well at the end of the day we all knew those trade wards are not helping any economy at all you heard it from quarter on wall street the white house says the car industry is just one area in which the e.u. is clearly taking advantage of the u.s. does the trumpet ministration have a point the u.s. studio car imports from the e.u. is just two and a half percent the other way around the european union levies ten percent on imports from the u.s. so quite a difference there but those figures only tell half the story when it comes to s.u.v.s and pickup trucks the u.s. auto industries main source of income european cars a subject to twenty five percent tariffs the u.s. two hundred ten percent now that twenty five percent taf dates all the way back to nine hundr

and then there's this from a business like campbell's soup and statement to cnbc campbell's estimatespact of tariffs to be significant. joining us now, two people with very close ties to the storied bill johnson, ceo of heinz, currently an operating partner and bill simon, former walmart u.s. president and ceo, senior adviser to kkr bill and bill, nice to see you both bill johnson, i'll start with you. >> okay. >> good to see you >> i talked about the impact on consumer companies which are already feeling it as a result of the canadian tariffs on imported u.s. soups and ketchups, your former business and other key food products. how bad will this get for some of these companies >> if it continues and spreads across europe and asia it can get pretty bad it affects three parts of the business, it affects cost and affects price and most importantly in some cases it affects sourcing cpg gets a little bit of a break because of localized sourcing but in terms of raw material sourcing like aluminum, things like campbell mentioned, that becomes a big head wind and affects prices made in one c

your can of campbell's soup will go up something like half a cent and that kind of pain is enough for -- americans can take that and absorb that. it's not clear what's going to happen here. >> exactly. we all know that if it really does get bad, it's a lot more than a can of campbell's soup. >>> brett kavanaugh is getting face time with key senators today. but it's the paper trail of his past remarks that has some lawmakers interested. if you have medicare parts a and b and want more coverage, guess what? you could apply for a medicare supplement insurance plan whenever you want. no enrollment window. no waiting to apply. that means now may be a great time to shop for an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. medicare doesn't cover everything. and like all standardized medicare supplement insurance plans, these help cover some of what medicare doesn't pay. so don't wait. call now to request your free decision guide. it could help you find the aarp medicare supplement plan that works for you. these types of plans have no networks, so you

. >> he remains optimistic, back in memarch, ce secretary wilbur ross held up a can of campbell's soup a said the impact of the tariffs would be marginal. >> well, i just bought this can today at a 7-eleven down here, and the pce was $1.99.o in the world is going to be too bothered about 6/10 of a cent. >> campbells acknowledged the impact of the u.s. steel tariffs saying tin plate is campbells sing largest procurement expense. the can manufacturer's institute says the tariffs will add an extra penny per can or a total of 1$1.1 billion in extra costs for the u.s. can industry. that includes major food and beanrage comps. just last week the ceo of coca-cola said the price of the company's sodas will go up as a sult of the tariffs. and anheuser-busch says in a statement, a tariff on aluminum is a fax that thrtens jobs in the beer industry. and has the potential to raise the cost of brewing in the u.s. if the tariffs stick around long enough. they'll have to pass them along to their clients which could ultimately hit consumers. >> ultimately it will increase our costs to goods. we will ne

. >>> activist investor dan lobe is rortedly urging campbell's soup to consider selling itself because he believes that company is unrvalued. "the new york post" says lobe's hedge fund is in talks withve instors and family members of campbell's who hold a minority shares rose nearly 2%. >>> and colgate is reportedly seeking the help of a on service company to sell its products. "the wall street journal" says the consumer products giant is nearing a deal to take a majority stake in hubbell. thly would then joi offer a subscription service for colgate's oral products. shares re a fraction to 64.67. >>> finally, unilever says it has completed the sale of its food spreads business to kkr. that deal, which was announced last year, is intended to help unilever focus on its stronger owth areas. shares were up more than 1% to 55.77. sue? >>> bill, the lighting company acuity brand said strong demand for its infrastructure and utility products h spedes rise and top estimates. profits fell, but they still came in well ahead of expectations. the shares popped more than 12% to 132.05. >>> micron t

producers for example that there are likely to increase prices we've seen something similar from a campbell soup was the higher tariffs on steel and now if you also look at catch up and other goods for example they don't have to necessarily high margins so it is pretty likely that consumer prices will increase not just in the u.s. but probably all over the world as sulfur of surprises thank you very much at the new york stock exchange and speaking of surprise us it's back to brett now for some sports action and the world cup. oh you're plenty of surprises another action packed day at the world cup in russia that kept the fans on the edge of their seats including my colleague right here nick like in a climb from our sports desk they did it belgium the japan in the dying seconds to reach the quarter final sit it indeed and as can see how boring the first half was it was actually the second often everything cuts kicked off all five goals starting in the fourteenth minutes kinky hair a gucci that we're about to see on the screen opening the scoring for japan you see how that is going to put the pres

today, president trump will host american made goods from all 50 states, campbell soup and ford headinge white house to display products, the event comes despite trade disputes between the u.s. and several countries including mÉxico, china and canada, rob. rob: all right, the knewy le -- newly released fisa warrant application on how the fbi convinced the courts to wiretap carter page, what comes next for obama-era officials involved? all of this? joining many e to debate kimberly and former dnc josÉ muÑoz, josÉ, i want to start with you, both sides have come out and said this is some kind of vindication after seeing this fisa application. what do you say to the democrats >> it's now clear they did nothing wrong with carter page. we know page has long relationships with the russian government and has been proud from this relationships and now all of a sudden, they're not so important, so i think, of course, we will see the president tweet out as he has in the last couple of hours saying, still trying to blame the fbi for illegally spying in campaign. it's not true, 400 pages of evidence

interesting, too, dan lo loeb, he's going after nestle to break up and now he's going after reportedly campbells soups well so you talk about consumer staples historically doing well. now you also got a well known hege fund manager rattling i wonder if that would add to the odds that 78% of the time that sector goes up. >> the reason why these folks are getting involved in consumer staple stocks is because they've been beaten up so badly. if you have these catalysts going forward, it could be huge. and we're not even talking about the fact this is a midterm election year. a bunch of seasonality aspects go into that i would also say this, there was something interest that ryan dietrich said. >> he has some cool stats. crazy stuff, but cool. >> so follow me on this one. may and june are typically weaker seasonal months in times when may and june are both positive over the last 2 it time t -- 22 times we've seen that, 19% of them the rest of the year has been positive. so you have bullish reasons to be high on the markets now whether they come to fruition or not remains to be seen still it sets the stag

campbell soup of a 1.8%. -- is in talks with family members who control 40% of the company's shares as well as independent investors about supporting a plan that would result in hiring banks to explore a possible sale. we will keep you posted on further developments. shery: we are seeing the dollar continue to weaken. there's trimming some long positions ahead of the july 4 holiday. take a look at what the offshore yuan is doing. it is strengthening the most against the dollar since may. that is being helped by dollar weakening and comments from the pboc governor. morning that china will keep the yuan at an equilibrium level. we are also looking at these talks between president trump and the incoming president. scarlet: a big day here for nymex crude. to be ti swinging. it declined quickly from the levels and settled to close down just about 2%. still bouncing around. saudi arabia and russia reaffirmed an agreement between opec and its allies to increase oil production so the pressure from president trump certainly being felt. are keeping an ion growth recovering from the lowest since

wilbur ross holds up a can of campbell's soup and says it only adds .6 of a cent to cans. the manufacturer says the tariffs will add an extra penny per can or a total of $1.1 billion in extra costs for the u.s. can industry. just last week the ceo of coca-cola said the price of the company sodas will go up as a result of the tariffs, and anheuser-busch told nuss a statement a tear of on aluminum is a tax that threatens jobs in the beer industry and has the potential to raising the cost of brewing in the u.s the ceo believes that ultimately he will have to pass those costs on to his retail clients, which will eventually hit consumers. back to you, guys. >> thank you very much adidi roy in california. >>> check out this mystery chart. the stock is up 16% in a year, and it's in a unique position to give us a read about the broader economy. we'll have the ceo of this mystery. >> we're going to go tout california for a live report on the deadly car wildfire. power lunch will be right back you always pay your insurance on time. tap one little bumper and up go your rates. what go

he likes campbell soup. if you give him a discount right now, jesse will buy more.y are they doing this? why are they using the technology? >> jesse: they are doing it to make money. 2 minutes later there is an ad that pops up that exactly what you're looking at. >> greg: it is so embarrassing. [laughter] >> jesse: especially at work. >> juan: what were you looking for, greg? >> jesse: i like it for terrorism. i could see putting it in airports or train stations or times square but you can only use it to fight terrorism. i don't like it when you can get hit for jaywalking or running a red light. i like the cat and mouse with police. they should be able to catch you running the red light personally. they shouldn't be able to use red light cameras. it's not fair. >> dana: did this happen to you recently? >> juan: dana, six years ago the europeans asked them to stop this. don't do it. what we have seen is especially after zuckerberg testified, declining confidence in facebook in the american public because of things like that. >> dana: "the new york times" story about

this includes the names we put on your screen: netflix, amazon, campbell's soup and sales force.goldman says financials will outperform as interest rates rise because we know we're in a rising rate environment. stocks with strong balance sheets should be on your shopping list, the bank says including chipotle, monster beverage, facebook and nvidia. they say buy companies that have low labor costs like underarmour, gap, western union and alphabet the parent of google. i wanted to bring in our floor show traders to ask if you agree with goldman's strategy and b if you see anything missing here. tim, i will start with you. >> i agree with parts of it. i think some of the names on the list like amazon and netflix have had hyperbolic moves already this year. on any sign of weakness in the market, they might get hit because people have very significant profits to take in some of those stocks. i mean, if you really purely want safety, i think the electric utilities are a great sector that are definitely have exposure to very positive growth in the u.s. and also attractive dividend yield

. >> i just bought a can of campbell soup at the 7-11 is a dollar 99 cents but again.here's about 3 cents worth of template steel in the scan so if it goes up 25% that is a tiny fraction of 1 penny. that is not a noticeable thing. liz: not noticeable. march 2nd the day after president rob announced deal in aluminum tariffs, secretary appeared on foxbusiness and held up the can of soup and richard americans that prices would only go up actually. fast forward to today and manufactures from coca-cola, to polaris, to caterpillar they are all raising prices is the cost of raw materials, steel and aluminum, used to make an package the product rises. raymond james policy and let's get the actual price movement here year to date the crisis have vaulted 33% and aluminum is up 37% and is commerce secretary ross still right that the price increases passed on to consumers is still negligible? >> were starting to see the impact of the consumer and i do thank you look at this and say when i go to the supermarket i don't see a big change yet but were always reminded that all politics

talking about the aluminum and steel tariffs and ross came on television with a can of soda and campbells soupd no one knows the price of these things, it's just a couple of cents. >> well, stephanie, those pennies add up. last year in the united states, american brewers bought 36 billion, with a "b," aluminum cans and bottles so those pennies add up. we have shared this information with the administration. last month, 32 members of congress sent a letter to attorney general sessions asking for an investigation into a particular price of how aluminum prices are set for beer brewers called the midwest premium. we're very concerned about the midwest premium. we're very concerned about the tariffs lasting a long time. we're talking to anyone in a position of authority who can help us out. >> what do they say back to you? when you share this with the administration, what has their response been? >> i think the administration's response is "we need to bring back jobs in a certain sector of the manufacturing economy. therefore, brewers, sodamakers, airplane manufacturers, farmers, you're just going

senthird point capital is to have over a $300 million stake in campbell soup. up by percent in the after-hours session. in terms of where that would put it in stakeholders, i will have to dig into the numbers a little bit. they tend to take activist position so we will see in this place. scarlet: what it demands. facebook.'s get to they identify the ongoing efforts to influence u.s. politics on its platform. coo city operation included creating a protest in washington. wewe destabilize event and will begin informing people who are interested in the event or said they would attend. it is clear whoever set up these accounts went too much greater lengths to of secure true identities than the russian-based internet agency to the run-up to the 2016 presidential election. with the latest is sarah frier following the story. julie: is it too simplistic to say duh in this case? this is something we expected and the company has talked about and the intelligence services have talked about it. is this just more meat on the bones with details on what is going on? >> faceboo

. >>> campbells soup's pep rinl fa pepperidge farm is recalling goldfish crackers because of the risk of salmonella no illnesses have been reported by either company. >> ritz cracker did this yesterday. i saw goldfish this morning. >> they did it yesterday the surprise presence of whey protein. >> you think crackers and carbs, yet the salmonella coming from the whey >> i still need to look at the back of the box. i don't know where the protein part is in a cracker >>> alphabet's profit blowing away estimates joining us is michael graham good morning to you. did you -- did anyone expect this some people expected this. did you anticipate this? >> the results were strong it was google's strongest quarter in a couple years. the revenue growth has been on a good trajectory. that was solid the thing that was changed was that the gross margin improved they had been suffering from expenses going up, that was weighing on margins. that's been going down a lot for the last couple of years this is the first quarter that you actually had a modest increase sequentially. that's a bit of a game chang

the most exposed are smucker, hershey, and campbell's soup in terms of u.s.xported to canada that will face tariffs. and some of the companies have been under pressure and have come out with statements, obviously, saying they do not support tariffs. and it makes costs a little more expensive. you have smucker with 5% of the sales. the jams are made here. >> campbell has a lot on the plate. as the board concerns any number of different things. >> it got caught with the steel and aluminium tariffs. it is already rethinking the total business strategy and soup is being taxed in canada, when it comes from the u.s. it looks like 3% of total sales are canadian but a lot is made here. >> let's get to courtney on the floor and has more on what is moving this morning. court a courtney >> reporter: hey, david. stocks lower the dow is the most pressured of the major indexes. futures under pressure all morning. you should expect light trading volume this week we have a marketened market day tomorrow the markets closed for the july 4th holiday. let's get the market pulse

shares of campbells soup today moving a bit higher -- they're lower now. pepperidge farm unit had to announce recalls for certain types of goldfish, the crackers, after a possible risk of salmonella after we got a recall of ritz crackers having to be rrl r recalled because of that whey powder here's my best scientific explanation. whey is a by-product of dairy processing they use if in yogurt and cheese as with all animal products it can be contaminated with salmonella probably not frequent, but i guess the whey powder is used in the coating of the crackers. >> i think our viewers now can see how good both of us are as cooks from this conversation >> at last week's delivering alpha conference jp morgan callahan urged investors to be mindful of the risks >> one of the things on our minds are these currency moves and becoming more pronounced and violent and again they could have second and -- even our own u.s. dollar is something people should keep a very keen eye on >> i told you people should keep a keen eye on it >> you can watch the full panel at deliver

. >> there was a guy frankie they had so much velveeta and campbell's soup.id you know that survives >> along with cockroaches. >> post nuclear war , it's going to be there. >> do you think too much is being made in the trade issue? ian bremmer is going to be on with us at the 10:00 hour. calls it vastly exaggerated. last night he tweets out five hours until, quote, vastly exaggerated -- >> i'm not with him. i'm usually not with him we have the same misdemeanor on tv i think he's right on this i think that basically we can over do it we're going to pay the pardon mers -- farmers. that's what we do. there's absolutely a sense this is the end of the world. it's 1929. it's 1930. we have we're asking for reparations from a particular country. >> i've seen some -- speaking of twitter, i've seen now we're in a bear market. >> i read that, too. and i wonder do they look at the russell or does it not count the nasdaq looks pretty good. >> you can see the forest -- >> i don't like that joke. >> you can see the forest so clearly through the trees, why can't everybody e

you've had a little bit of an almost round trip, but not quite in the past two days shares of campbell soup on the rise they're up a few percent earlier. there's some activist news the new york post off 2% now, the new york post is saying that activist investor dan lobe of third point wants to shake things up at the country's biggest soup maker hedge fund is reportedly in talks with family members who own approximately 41% of the shares this has been an issue for a bit here the company was kind of reviewing strategic options. obviously, they recently parted with their ceo the market has viewed campbell as a potential seller. not clear if there's anything truly in the works, and the family has held fast for really decades now when many people thought campbell should be a seller >> you used to work at dow jones. >> yes >> there are so many different politics when the family is the owner. wow. only a $1 billion market value right now. a lot of family owners might feel like that's low a lot of debt on top of that as well we'll see how that plays >> speaking of food, here's a check on how some o

i was going to say it's why company guise like campbells soup are more effective.hey're also getting taxed now on soup going to canada. thank you, scott wave got an earnings alert here. >> hey, sara investors are liking what they're seeing, top quarter and bottom line results that have allowed the company to increase their quarterly dividend from 10% to about 20 cents per share. let me get you the numbers on the earnings side. eps reported 6 cents on an adjusted basis in terms of an estimate of 58 cents on the revenue they reported $618 million versus consensus of $601 million now, in terms of what contributed to this solid quarter the company says that largely it's helped fight a lower tax basis thank tuesday the law which was passed at theened of the year which provided some relief as well as their consumer business. so, you know, as you can see they're up about 12% of on those earnings guys, back over to you >> leslie, thank you very much let's get now a cnbc news update. >>> here's what's haeng at this hour, everyone president trump says he interviewed four sup

guess what, that was the moment when wilbur ross went out withholding up the cans of campbell soup and cans of beer, don't you worry your little heads about the impact of tariffs, it's gotten a lot bigger than just steel and alum. >> it has gont a lot bigger, $34 billion in tariffs, that's not a huge impact on economy but if this escalates, that's what the market wants to know. trump made big promises fanned he fulfills the promise, the u.s. consumer will be the one that gets hurt. right now the u.s. -- the trump administration was very tactical about the tariffs that they were putting on, they made sure that it was very limited with regards to impact on the u.s. consumer that will trickle through over time. we already have seen it in steel and aluminum tariffs, we will see potentially in autos and things like that. dagen: china is slapping tariffs on our auto import, some auto import, 40% tariffs now on auto import that hit ford, it hits tesla and hits actually bmw and mercedes benz vehicles built here in the united states. that does impact u.s. jobs. kristina, as lindsey pointed out,

. >>> separately "the new york times" prosaying campbell soup looking to ining to explore kraft heinziring the company. >>> "the washington post" reporting that the u.s. government is taking a closer look at facebook's privacy rules. the justice department's probe has been joined into the cambridge analytica scandal. it focuses on what facebook has reportedly public by said about the data it shared with facebook whether it made complete and timely disclosures to the public and to investors >>> deutsch bank making a call delta, united all downgraded the firms said the market underperformed during g geopolitical risks pointing to the current trade tensions you're seeing -- look at united continental. that's up by more than 1%. >>> let's get back to the broader markets. a great to have you with us, gentlemen. jeff, you actually think we're going to see better growth in the second half of the year. because of that tax cuts >> tax cuts are playing part of a role some is we're still in the sweet spot of rising wages they're rising modestly. think of that as empowering the consumer and then

and then there's campbells soup, dan loeb pushing for the company to sell itself.ome of these consumer staple stocks that have been beaten down. >>> president trump continues to push the importance of i.c.e., he mentioned it this morning in a tweet saying when we have an infestation of ms-13 gangs in certain parts of our country, who do we send to get them out? i.c.e.. they are tougher and smarter than these rogue criminal elements that bad immigration laws allowed into our country. dems do not appreciate the great job that they do. congressman from texas, louie gohmert, joins us right now. all right, congressman, it's interesting because, you know, it changes weekly, but now it looks like the dems have latched onto the new midterm rally cry, and it's abolish i.c.e.. first, before we talk about the politics of it, let's talk about the practicality of it. you're someone on a border state. does it really -- does this concern you? >> absolutely. it's a call for anarchy, and it's a amazing that -- amazing that it has caught on and has been spreading even among what wer

if you went into your local supermarket and there were two kinds of soup, chicken and rice, and two companies that made them, campbell's and progresso, you'd feel as though this was not a very good store. you'd like more choice. we want 27 kinds of toothpaste and 16 kinds of soup and 12 kinds of ice cream, but two parties is enough. what is that? what is that? why two? what is--their magic number? it's a strange country. doesn't want more choice than two. even if it's hard to tell them apart, you don't want more than two. it's very strange, but the whole politics is handled here as a bizarre kind of excuse, and the contradictions are legion. the same politician that you mock and that you call a crook, when he sends your kid to war, you go and you stand at the parade. the same politician is a great commander in chief. he was a rotten crook last week. so when it comes to the foreign, "ohh, ohh, ohh!" the contradictions here--if he was a crook at home, maybe he's a crook abroad, too. it's possible. very strange. all of that has to be opened and questioned, but m my conclusion is it's happening, and again, i'll use myself.