i know that that's bush league, but chuck robbins reported a good quarter and is optimistic for ciscoave to touch on the layoffs, obviously, because a lot of people you laid off, but chuck, i have to tell you, it's been a while since you just told me, you know what, thecustomers are buying. they need our stuff, and we're ready. this was you at your most upbeat, chuck. >> yeah, jim, first of all, thanks for having me. good to see you guys. you know, if you really step back and think about what's happened over the last four years, it's really hard to believe. but this past quarter is when we just exited the overall impact from the pandemic, the supply chain shock. we went through this phase where our customers were absorbing all this equipment we shipped them and we finally got through it. we were talking about it yesterday, and it's hard to believe this thing has been going on for four years. we thought that would end at the end of q4, which it did, and the order growth was great. we saw the demand return, we saw it across the board. and if you look at the last two years, the last go y

speaking of cisco, do not miss our interview with cisco ceo chuck robbins with "squawk on the street"lenovo climbing 20% driven by growth across the computing and infrastructure and services units. in may, it revealed the first a.i. pcs those shares are down 1% in hong kong trading shares of lumentum fourth quarter beat demand as it expands the cloud and a.i. customer base which should lead to higher growth in the coming year shares up 15.5% pre-market >>> nuclear energy is at the turning point right now seeing momentum as power demand jumps from electrification in data and a.i. centers the steep price tag is presenting challenges for the u.s. goal to triple nuclear power capacity by 2025 our pippa stevens traveled to georgia for an up-close look for the first reactor being built in years. it is now up and running >> reporter: i'm here where the nuclear reactor came online last year, they're the first new liability reactor ly built reactors built in years. this plant provides power for 2 million homes making it the largest clean energy source in the u.s. nuclear energy makes 20% of th

10% versus the s&p tech sectors and a 23% rise and don't miss an exclusive interview with ceo chuck robbinse street tomorrow. now we await the numbers, scott. >> we do. we look forward to those and the interview, seema, thanks so much. we turn it back to mike santoli. now it's about the economy, retail and jobless claims and walmart. >> retail sales, of course, is very important, but i think it is very much internalized among investors that july was pretty soft on the consumer side so to me it's pretty tough for that to surprise in a meaningful way to the down side that has a market impact and what walmart says about the economy if it's rough, sometimes it's to the benefit of walmart, but jobless claims, i think exactly whether we're inflecting higher or not, unemployment rate is now very much the benchmark of how we feel about the economy as opposed to inflation which is essentially taken care of. >> i'll be urprised, to be quite honest with you, if walmart comes out and has great things to see a month ago their cfo was at a conference and made reasonably -- [ inaudible ] [ closing bell ri

ceo chuck robbins will be on "squawk on the street" at 9:30 a.m. today >>> meantime, we are learning the details of the pay package that enticed brian niccol to leave chipotle it will pay him $1.6 million annually and incentives to add more than $7.2 million in cash and equity wards worth $23 million. and a signing bonus of $10 million cash and $75 million in equity one point for niccol he will not be required to relocate to seattle, but starbucks will pay for a remote office in newport beach, california he will agree to travel as needed to do his job starbucks well pay for housing costs in seattle for niccol for up to three months while he finds second an accommodation there. look, he created $20 billion overnight. you are not paying less than that. >> the incentives are aligned. a lot in shareholder equity. he has to hit targets to receive. it is interesting the work from home nugget. >> he will have to travel back and forth. >> traveling all the time. >> exactly chipotle is in orange county that's why he's in newport beach. >> i believe they mov

i like it, and chuck, chuck robbins, looks like a good price.ngs are better, inventory is clean. i will not tell you that you should buy all you can, that will not work for me. let's go to mike in illinois. we have good callers in illinois. mike? >> how are you? >> i am good. how are you? >> doing just fine. i am down 15%, it is vistra. should i buy, sell or hold? >> it is just, you know, to me it is too much of a dice roll. too much of, i wish i had a chart i would show you that this one has been straight up and then down. i don't want to touch it. it is too crazy for me. it is two that i find. "unfigure outable"? not a good term. i hope he is wrong. he has been right so often. much more mad money ahead. including a confluent conflict. getting a read on what is next and lilly hit a high. what could it mean for the future of the stock? the new high is important. i am dpigging deeper. all of your calls tonight. lightning round, stay with cramer next on the red carpet we have gina costa... looking simply stunning... with this season's hottest acce

the ceo chuck robbins will discuss those results tomorrow. >>> still to come, starbucks shares down anotherng back 4% today. chipotle is down fractionally as the street digest what's next for the stream. c details after this. you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> welcome back. here's a quick look at mafrkets. the s&p up to 5447, but the nasdaq is lower as there is pressure on google that we discussed earlier. and the russell 2,000s underperforming again. >>> coming up, today's data on cpi shows health care prices still climbing. we'll discuss what it will take to cool them off. to cool them off. that's next. it's super-fast so, any pre-launch concerns? what if nobody buys them? that's mean or, what if everybody buys them? oh, i hadn't thought of that that's probably not gonna happen can we handle that kind of traffic? the network can handle it! i downloaded eight hours of true crime stories

ceo chuck robbins joins "squawk on the street" tomorrow morning. mel? >> seema, thank you.tively undervalued compared to the s&p 500. >> i think it's been defensive from a valuation standpoint, but i think that network revenue number is a bit concerning. and so, you know, i feel like there's a bit of a push and pull here. because essentially, they have done a good job and they deserve credit for shifting into, you know, cloud defense and things of that nature, but i think a 7% workforce reduction tells you perhaps you're not as bullish on growth possibilities. and then add on top of that the concerns that the market is now having about a.i. capex spending. so, i feel like it was a bit of a mixed bag. >> remember when cisco used to be the bell bellwether and we wait to see -- >> what john chambers would say about the outlook in enterprise spending. >> they lost -- >> they lost. >> they put baby in the corner. she's not dancing anymore. you get that reference, right? >> no. >> guy does. "dirty dancing." >> she does. >> yeah, yeah, yeah. >> the chart doesn't look great. revenu

mentioned there, having its best day in years up nearly 7% >> i was on the earnings call, ceo chuck robbins much a reduction. it's a reallocation towards the markets that are growing like ai and cloud. so clearly any tech company now really is trying to figure out what role they're playing. >> how do we stamp it with ai. >> exactly. >>> bill ackman's pershing square revealing a new stake in nike, disclosing it owned more than 3 million shares worth roughly 229 million as of the end of june. it's not the first time ackman's owned nike in pershing squared made $100 million profit taking nike shares -- trading nike shares over a six-month period. >> nike has been laboring quite a bit lately we'll see. it was up about 120 if i'm remembering, as recently as last fall, we'll see whether they've got the sauce to get it back. >> there's competition on holdings as well it's dealing with a lot. >> there are a lot more sneaker makers out there fighting for share and doing very nicely. >>> amazon one of seven other companies looking at expanding drone use in the uk. the key is this test would let the d

and tomorrow morning, chuck robbins is going to join us, right here.om the company. also, some reports of potential layoffs. we'll have to wait and see what we get there. another stock we're keeping an eye on this morning, southwest, activist investor, elliot management is going to launch a proxy fight there. it dominated as many as ten directors for the company's 15-person board. i want to bring him in now, phil. they own 11% of the company. we've known about the presence for some time, do we have a sense of what elliot wants? if it does gain a majority of the seats on the board, that the company is not doing? >> they want them to move faster. you will hear southwest, who have said, we announced a number of changes that will be kicking in, over the next year, year and a half. including assigned seating, as well as red eye flights. and premium seating, that is the revenue driver. those are three. we're going to hear about more in late september. elliott's response is, you got to do more and do it faster. by the way, you are correct, david. when you add