who's the next cava?n coffee, authority in bread and baked goods, authority in food it's got chefs in every unit it's doing very, very high volumes, extraordinary customer response a wonderful founder, another thing called life alive, it's positive eating it's vegetables. again, very high volumes, very strong concept and we have something called level 99 which is immersive entertainment. it's maybe the most powerful business i've ever been involved in we'll see where it goes. it could be one of the strongest things we've ever been involved in >> we're definitely going to watch it no question about it i'm sure you know that the markets are looking to restaurants as a category. cava excluded to end the ipo drought. and i am curious to know how you're thinking about the public market's receptivity to new issues on that front >> well, when you have a great brand and a great management team like we do with cava, it makes sense. the reality is, you need to be prepared for it. and so many companies go public, as

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cava in particular focused a lot on dinner because lunch had been a challenged business. we saw that company turn a surprise profit in its first quarter as a public company. that's an interesting trend there. one of the things piper sandler has noted as a tailwind for a cava in the back half of the year because people are more focused on health and wellness trends. i think that's potentially why you're seeing the names perform a bit better, even if they're pricier if you go to dine out. consumers are thinking about price and the big picture but they're potentially willing to spend a little more if there's perceived health benefits there when you're dining out. >> absolutely. it will be interesting to see what happens when, you know, those savings kind much get run down and the student loan repayment -- >> student loan repayment, exactly. >> still willing to pay up for the healthier option. seems like things are good to that front. thank you. >> thank you. >>> after the break, wall street is wondering just how much rising wages could impact earnings. >>> watching nvidia. h

shares of cava jumping after the fast casual restaurant chain reports its first set of results since going public that is just one of your big money movers this morning. and the world's biggest iphonemaker is diversifying its production and supply chain further away from its home base in china where foxconn has just cut the ribbon on a new factory. and consumers continue to spend. it may not show up in the results from target. we have a very busy hour still ahead on "worldwide exchange." stay with us >>> welcome back to "worldwide exchange." futures trading pretty close to their highs of the morning with the exception of the dow, the dow is down a few points in general, green across the board. >>> all right, looking now at commercial real estate sector. wall street may be looking to capitalize on the sluggish sector creating new funds to acquire office buildings, apartments and other properties at heavily discounted prices regulatory filings showing goldman sachs and bgo are among the names rising prices for distressed properties. values for commercial real estate have declined in re

one of the starting guns started with, --cava.at traded significant eat on its ipo and it held up close to 100% since it priced and you had already technology and another company that has been on a huge soaring climb. people see there is rest have pit -- recep committee and ap ipo markets and what --there is receptivity in the ipo markets. arm is more of a flat company but it is telling an ai story, as you see writing the coattails of nvidia so i think arm will be interesting and instacart will be a large ipo. we are talking about seven -- several billion plus of proceeds between the two companies obese will be real tests for the market but i think they are both strong companies with good stories. if they succeed and i do think bankers will try to be conservative in pricing because they want to show there is an uptick in buyers who take the risk of buying an ipo that we might see the floodgates open again. we have several other companies that are ready to go if they see that happen. ed: i had a cup of tea a tech thinker and we tal

. >>> we have an earnings alert on cava shares are jumping, the mediterranean restaurant chain posteds. kate rogers has details. >> well, cava posting a profit of 21 cents in its first quarter as a public company, on revenues of $173 million, that's $10 million higher than the analysts had estimated for the quarter. eps also a beat, as analysts were projecting a 2 cent loss for cava same-store sales soared up 18.3%. the average unit volumes also rose from 2.4 million in the prior year quarter to 2.6 million in this quarter. guidance for the full year also strong it expects same-store sales growth for the full year of -- between 13% and 15%. also projecting adjusted ebitda. the ceo sounding upbeat about the long-term talent at cava and he said he is seeing a very, quote, resilient consumer. much more to come from the call, but the stock up 9%. >> that's a nice move, tim >> it's been a growth story, in trm terms of units and same-store sales. the profitability is something that caught people offguard. those retail sales numbers were good, but they weren't great for a lot of does cession

brett shulman, ceo, cofounder of the cava group. thank you so much, brett the, appreciate it. from now, 3 1/2 minutes. we know the dow, s&p, nasdaq on pace for a second down day in a row. there you have it the nasdaq off 150 points. we have been hearing traders on the show pronounce cash is king. our "countdown closer" says there is a way to crown your cash investments. isn't that clever? we have meghan hornman. cash is king, i get that. what kind of money market do you look at to get the most out of that money, that cash? >> you don't really have to take any risk in the money markets or even using like a sweep account at your investment firm. the money markets are giving you a little bit more yield. you're not taking on anymore risk there they're offering five, upward percent yield. i don't see any reason at this point with the market the way it is, it is facing technical challenges, it is facing seasonality challenges and i think it is facing fundamental challenges. you need to be aggressive here. park the money in cash. have the dry powder. wait for pullbacks we think will

willing to pay that premium people are seeking out healthier dining options, making companies like cava>> i have to find one. >> they are on the east coast and in new jersey. so i bet you can find one. >> thanks, kate. kate rogers. >>> coming up, the 30-year mortgage rate above and firmly so 7%. mortgage demand dropping as a result so if you are in the home loan business, that's not a good combo, unless you are this particular company another mystery chart. it benefits from rising rates, the stock up more than 40% this year the ceo will join us, next icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. some people think you can o

apostote in the abyle of the master, especially in 1910, he had already recommended himself the act of cavaes, the first ospih laying out of the calendar of our niva ale. hello, kipanzli, it happened for a long time from power, the lad is being mobilized from the army. ruff has been murmuring for two years. barracks, zatym courses of paramedics and sandblasting of porozny carts and cities. remove the wife from the birthplace 1919 on the map is the belarusian state razdovishche. do you want to be her and selfish and nakirovatsya, umensk over the city, luna and geron. and if no one knows that there will be a war with poland tomorrow and that they are in full swing and the front line, it’s not alchemy that meddles in the care of the devastation, the lack of settings on the top, it turns out to be a tall man. chutnik and he with a ram, painting the urban landscapes of the upper city into the narrow streets of nyami tatarskaya drozdovich roared the settlement, painting, just bugging with a rapt , fantasy was worsening and the elk was pulling along over the lowered ramparts . i look and don’t bel

wabele mastaka, especially in 1910, has already proved itself to be the object of cava for the young first success of our niva ale calendar tab. hello. kipanzli, happened and for a long time from power. the boys are mobilizing the troops. bersh two moves of the flywheel for the army, then the courses of paramedics and the sand of non-porous carts and cities removed from the birthplace of 1919 on the map is the belarusian state of dislocations. do you want to be mercenary about it, and stalking around minsk over the city of luna and geron and no one is tying the deer, not knowing that tomorrow there will be a war with a greater and two in full swing and a front line, not alchemy pokes at care times. the lack of moods is low in the crowd, a tall man is improving as a chick and he sideways, painting the urban landscapes of the upper city in narrow buns nyami, the tatar settlement growls drozdovich, painting, just badgeting with a rapt, fantasy is turned off and the elk, over lowered by miles, was the cop castle is a trawl gate about shmat -for a year, archaeologists, i will excavate the

we go, play your first cava. hiring, well, rum, as always , two bottles each. you're done, look .lf smoked good taste, that's why i also take these ones with the camel of the american president. why box? i said block. i left my passbook at home in the dressing room closet, you know? you don't need, why don't i take a pack? why pack come on, vlog this is in gypsy, let's smoke american president, smoke do you smoke? why suck not stupid, but the american president, my dear laser smokes, and i smoke, because in total she is just a gypsy funnel. what money, if we need our horses put in gold teeth so then give me a box when we take it away. come to the tractor. try. all participants of the intellectual show i know are different. i remember that these mouths they belong to america only the problem is that i don't remember any south or north but they have a common feature. they go to school not for grades, but for knowledge with the letters n. firstly, because to break what to do and because there is the whole word inadvertently . it turned out that 3 ^ 4 will be 81, if i'm not mistaken,

depending on if you count some we're companies that aren't really traditional growth ipos, like a cava or an arm. so it's going to take a little to get back to it. the first companies that go out tend to be very high quality, they tend to be willing to take a little bit of a hit on valuation, and they tend to be smaller ipos that want to get out. whether it's arm, because of the s softbank aspect, you hope that the first companies are high enough quality and have enough demand that they draw in the ipo buyers back to the market. >> the other piece of the capital market's pie are deals, right? >> yes. >> maybe some tech companies are emboldened by microsoft and activision and their beating the ftc, if you will. what does that mean for the appetite among big tech to try and do stuff? >> well, i think you hit on the two key levers. the first key lever, especially for the larger deals, having an ipo as an alternative means that their window is not -- means if you're going to buy a company, the window might not be there for very long because the public market is an alternative liquidity sou

i'm not worried about cava. i'm not worried about any competitors. this stock can stand on its own. tshibola mexican grill, i said, be good in 2000. 2175, and it is a -- >> buy, buy, buy. >> i wouldn't bet against starboard to come to the restaurant business and brands . starboard experts get it. but post-earnings, everyone has been waiting for, the interview at the palo alto networks. last quarter, invest in's had fear, but is that fear still strong for palo alto? we're going to check in with the ceo. extracting, putting up people to work the cutting rates. a host of things people should be watching out for president xi in china. what do i think what the lives, and out of the country? should it be of concern? i will give you my take so, stay with grandma. -- cramer (swords clashing) -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. the citi custom cash℠ card automatically adjusts to earn you more cash back in your top eligible spend category. hi. ♪♪ you

arm's upcoming ipo has investors hoping it can kickstart the ipo market following restaurant train cava, and oddity tech which went public in the last couple months if arm goes well could instacart and a slew of other buzzy tech names be next? our intrepid markets reporter bob pisani says don't be so sure about that what are you hearing >> this announcement at arm would begin the road show for its ipo. it has these ipo watchers down here, they're giddy with hopes the ipo drought is slowly coming to an end. here's the problem particularly for tech unicorns is might be coming to an end unfortunately several factors might prevent an ipo lift-off for the fall first the most important factor for a strong ipo market is an up market and stable interest rates. the market gyrations this month and rising rates present a real problem for future ipos. let's just say market conditions are not quite ready for lift-off second, what gets ipo investors really excited are the tech uni unicorns these are relatively early stage companies with high valuations traditionally over a billion dollars that are di

store traffic moderated in recent weeks and more diners are shifting from delivery orders to pickup cava's menu prices are up 8% from a year ago and the company says it has no plans to raise prices further the ceo will be on "squawk on the street" 10:00 a.m. on a first on cnbc interview. >>> hollywood financier tsg entertainment is suing disney for breach of contract the suit alleges that disney and its studio, 20th century fox, withheld profits and cut deals to boost its streaming platform and stock price that deprived tsg of cash to invest in individual films tsg co-finances the production of marketing costs of films like the latest avatar sequel "the way of water." it receives a share of the gross receipts after the film's release and after noticing a decline in profits, tsg requested an audit of three films and found in its words rampant self-dealing and accounting tricks within the books and had been underpaid by at least $40 million representatives from disney didn't immediately respond to cnbc's request for comment >>> the other big story, intel now terminating its $5.4 billion deal

many new issues, so if you do have an investor class, which we've seen with oddity, and saw it with cavae kind of clamoring for new issues in the market, then perhaps you have enough to fill a book here, especially when you have the cornerstone, those anchor investors that are taking up some of the book as well. that supply-demand dynamic will be at play. but to your point, valuation is going to be interesting here because you've got the a.i. angle, but you also have fundamentals that are declining, which you aren't used to seeing in ipos, although this is more of a sponsor back situation than a -- >> right. they are talking about significant growth going forward from here. there was a change in accounting from irfs to gap accounting which may have contributed to why it is negative year over year for the reported quarters in the filing but that said, yeah, you know, do you put an nvidia multiple on this. it seems unlikely given the growth rate that is going to be equal. but we will have to wait and. >> the a.i. aspect hasn't been proven out in the way that it has -- >> right. jim cramer

it's not cava.hey're middle market. >> in theory, it's sort of the wrong part of the -- >> but they did it at darden, which was the same thing. >> salt in the water. famous. when we come back, china's economic and property fears, which we mentioned, evergrande now filing for bankruptcy protection in new york. we're going to head live to beijing for the fallout on that. >>> bulls not getting any respite today as we're looking for 1% declines on the nasdaq, at least. more "squawk on the street" after the break. rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. wow, you get to watch all your favorite stuff. investment objectives,

and ipos don't really fare any better, despite well publicized debuts by cava and kenvue, u.s.to turning back on, it's not quite full speed ahead yet. bankers and other sources i have been talking with, a lot of companies are in wait and see mode right now. they want to assess larger ipos and get more comfortable doing deals in this regulatory environment. regulation has been front and center for potential deal makers. they want to look at that before really doing anything major. but as the prospect of a recession seems kind of further and further away, you can expect to see a little more activity than we've gotten used as some of the c-suite executives, they didn't want to do a deal if there was a recession or a hard landing right around the corner. >> leslie, thank you. leslie picker. >>> up next, we'll get you ready for the monday morning opening bell on wall street. top technical alanyst katie stockton joins us. stay tuned. good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an est