conagra under pressure to spike the earnings beat.lation shares down 4% and nokia surging after announcing an improved outlook for the year on july 29th when it reports q2 results. shares of nokia up more than 8%. >>> meantime, getting breaking cybernews. hi, eamon. >> good morning. carl, multiple cyber security experts are confirming to cnbc all known websites associated with the hacking group revil are in fact down this morning. now, these are sites maintained by the hacking group which has been linked to russia in the dark web they use these sites to communicate with their victims to publicize some of the material that they've stolen all of those now are down, we are today, by two high-ranking cyber security officials here what you see if you try to go to an revil site says a server with a specified host name could not be found. try again. that saul of the information we have right now we don't know exactly why these sites are down we don't know exactly when this event began. although all of the sites have been active recently what

. >>> the food giants conagra and pepsi. conagra zippsinking and pepsi mg higher as soda sales at theaters, arenas, restaurants are expected to rebound. it is a narrative playing out around the market. surging consumer demand and spending colliding with rising inflation and rising input costs. but our next guest says the growth potential in the markets is underappreciated ahead of what he says is going to be a, quote, blowout second quarter earnings season. joining us now lawrence gollub always good to see you and get your read on the markets generally, but also on the middle sized or middle market firms that you follow specifically, you see this economy as hotter even than 2019s which was a pretty good economy, right >> exactly we track hundreds of companies' monthly actual results after the first couple of months of each quarter we compare them usually to the year before but we're seeing boomflation now so our report this quarter is growth from 2019 for showing median earnings growth over 30%. this is part of an accelerati

we saw that with conagra today. lumber, futures wiped out massive gains we saw back in early of 20 to anyone. lumber aside, core headline inflation pointed toward increasing prices. joe: people continue to talk about how this is likely to be transitory. we can attribute the move ongoing to used cars, certain other things that are likely. nonetheless, we do see quite a rise here. cpi, no matter how you want to slice it, basically every measure you look at. headline, core, annualized, three-month annualized, median, it is all gathering speed. for more, let's welcome democrat congressman from virginia, don buyer. thank you for joining us. when you look at this economy right now, it is growing really fast, inflation is moving up. a lot of people think it is transitory but it is higher than it has been lately. what are the key things that from your perspective need to be addressed? rep. beyer: i would start with the fact that we want to celebrate record economic growth this year, somewhere between 7% and 8%. the unemploy

conagra brands.ver-year in today's cpi report, grocery stores also now playing defense. lydia hu joins us now from stu leonard's in yonkers, new york, on what grocers are doing right now to present their businesses and your wallets. lydia. >> reporter: hi, ashley. here at stu leonard's, they're starting to stockpile categories of food. like, for example, wine imported from europe, also we're seeing cheeses are being stockpiled and frozen seafood that can keep and store for longer periods of time. the goal, the ceo says, is to keep those products on hand so they're not tied up in any supply chain issues as they're coming in from overseas. but these buying practices are happening as we're learning about increased grocery prices from today's consumer price index that was released. we know that fresh fish and seafood is up by 6.4 % over a year ago, bacon up by 8%. the ceo here says the grocery stores are competing against other industries in these food products. listen. >> you're seeing certain things, t

i'm telling you, we're looking at the earnings conference calls with big companies like unilever, conagraral pill mills. congresswoman -- general millings. they're saying, yeah, this is eating into our profit margins and we have to raise prices. and these companies are warning about that. we're not seeing stagflation, but they're warning about it. congresswoman nancy mace, thanks for joining us. we'll have you back on again soon. >>> up next, dr. marty makary, we're going to take on this coast to coast confusion about conflicting mask guidance. we're on it. also threats of more mandates and restrictions are looming in different parts of the country. keep it here on "the evening edit." >> if you've been vaccinated or if you've had the disease and you have natural immunity, you are protected. ♪ ♪ limu emu... and doug. so then i said to him, you oughta customize your car insurance with liberty mutual, so you only pay for what you need. oh um, doug can we talk about something other than work, it's the weekend. yeah, yeah. [ squawk ] hot dog or... chicken? [ squawk ] only pay for what you need

kailey: on the margin question, we saw the likes of siemens energy and conagra come those pricing pressures showing up in a very real way. when we talk about the ability to pass costs on, the consumer isn't necessarily having more dollars in their pocket to pay for all of these goods and the higher prices they are faced with. do you expect that to become a problem? how do you factor that into allocating within a portfolio? alicia: i think we have to think about the stimulus coming from the government. 39 million households are getting payments of child tax credits, so these are the households that have a propensity to spend. it is not the high income households. high income households will save. the low income households who are eligible for this will spend. so you do have some fiscal here being able to support the economy. i think margins are near their peak and it is been very impressive how corporate america was able to survive the pandemic and retool companies. i think you are seeing some of the benefit in eps. eps alone has gone up about 10% for the second quarter as earnings season ha

new strategy but the trend is accelerating at the moment with companies including kimberly-clark, conagra the increases "obviously same as everybody else we're seeing inflation in our business across many of our raw ingredients and some of our inputs in labor and freight and everything else. advocates say they've seen product downsizing ramping up in the past few months. >> it's absolutely a sneaky process. of course they know that most consumers are not going to catch the fact the product net weight has changed, consumers just don't pay attention to that. they get a general sense of the size, carton or box or package that they buy and they grab it the case of general mills, for example, apple cinnamon cheerios went from 20.1 ounces to 19 ounces still called family size the family must have gotten smaller but you lost a full bowl of cereal recently >> reporter: in other words, our costs are rising even though prices aren't changing we reached out to general mills about the changes but haven't heard back and by the way, the best thing to do about this is pay attention to the net weight of

. >>> conagra. however, it did cut its forecast that's hitting the stock, which is down 5.5% on the flip side. pepsico is higher. we'll talk about that a bit later. boeing, by far the -- amid a new of the 787 dreamliner, phil lebeau has the story. >> anytime you cut production, it's going to hit the stock, as boeing as announced it will be at least temporarily for a few weeks cutting the monthly production of the dreamliner it was f-5 they won't bring it all the way too zero before they gradually brig it back up. they will now by delivers fewer of half of those through the rest of the year, it's the forward pressure bulkhead, that needs to be inspected, and they will need to repair it the repair time is expected to be about three weeks, and deliveries, they have been halted since may that's the headaches for boeing today. it overshadows, with fairly encouraging news, when it comes to deliver yes, sir of the 737 max. >>> the dplifr yes in june, in terms of orders. >>> guys, back to you. phil, thank y

for example, supply chain issues, cost issues but also able to raise prices and maintain margins conagra had a tougher time like ppg, higher cost issues but tough are for them to raise the prices to keep up with the cost issues you're going to hear more about this and other than the covid variant and what ceos feel about that and how that's the reopening affecting them, i want to hear more about these cost pressures and whether they feel they'll be long term or short term jim chatting a be that earlier on the highs for the day now, in fact, right at highs right now david, back to you. >> thank you, bob pisani. >>> talked a lot about stocks anded bond market as well. get to the bond report this morning and look at how treasuries continue to fare of course as we pointed out yields have dropped dramatically in a very short amount of time and you can see right there. 115. 1.15 i think i did see a bit lower than that. >> so hard for banks to rally. they're trying. >> banks are trying to rally noticed that, but difficult to do so when you've got, looking at that kind of potential lack of net i

costs will rise 9% for conagra. that's everything from cooking oil to transportation.ces. that talked about a 5% hike. fastenal sell products to construction companies. they're paying more for steel and their workers because workers are hard to find. so employee related expenses rose 12% and they raised prices. so federal reserve chair jay powell doubling down that this is all temporary, it will pass. if it does not, the fed will respond appropriately. j.p. morgan chase's jamie dimon says they're stockpiling hundreds of billions should inflation run too hot. this is what the government says. prices paid by businesses to stock their shelves up 7.3% from a year ago. that is a record surge. the prices you and i pay at the cash register, 5.4%. so it's the little guy getting squeezed. 47% of small businesses already say that they passed on the higher prices to their customers. >> sandra: that's what happens. if you are someone who is in denial about inflation, the white house, lately they have acknowledged it a little more than the past or the federal reserve, you can't den

. >> he's got a lot going on >> we do have a few downgrades today, peloton, out of wedbush conagra outlike -- i'm not kidding. it said we thought the quarter was good but the stock went down so we're downgrading it. that's real dirt that's journalism. peloton down 6 because the guy said people are starting to go outside. >> wedbush's general point is consumers have a lot more options now both inside and outside of the home, and they're going to wait and see how this shakes out in this new era of growth. >> i don't know, i think when the ceo comes on he makes a pretty good case that people's -- you know, that that's a change, that people like to work out at home, but as i was in the hudson yards, they make it look like spinning the most fun thing of the world in the middle of hudson yards, when you go to milos. >> there's a nice equinox there too. at some point still go public through a spac, though >> are they going to go with thunder road >> i don't know. i got it still in my head. >> screen door slams in their face >> like a vision she dances. >> what else could they be besides that

future of the year what they will see with the guidance and we know we saw campbell's soup and ppg and conagraure. i don't think it is something to just say this is no problem. i would stick with what we know is the sustainable growth right now and watch as the rolling corrections go on. pick up names that are inexpensive the way they bought peloton a month or two ago make sure you don't over stay your welcome. >> we will leave it there. kari and mark, have a great weekend. mark, in vegas, have fun out there. stay safe. >> i'll try. >> what happens in vegas, you know thanks >> what happens in vegas stays in vegas unless you get on a plane and take it back with you. >>> when we come back, if you live in a high tax state, the cap may have raised your tax bill significantly several states passed a new work around robert frank has details he joins us next. >>> we are awaiting earnings this morning from honeywell and american express we will have the reactn ioon wall street. "squawk box" will be right back. >> announcer: what's works is sponsored by comcast business. bounce forward at comcastbusine

stuart: conagra, food company. lauren: inflation story, they expect their costs to rise 9%.. stuart: that is an inflation story. very important one. good stuff, lauren. thank you. big hour coming up we have ohio senate candidate, j.d. vance. we have the mayor of miami, francis suarez. and we have american olympic swimmer michael andrew all coming up. plus texas democrats fleeing on private jets to avoid voting on a state election bill. some call it political theater. looked more like political farce to me. "my take" is coming up next. ♪ but that's the important bit, innit? showing up, saying “hello! fancy a nice chat?” then we talk like two old friends about sticky buns and all the savings you could get .. you feel that? we just had a moment. [chuckles] who would've thought it? geico. save even more when you bundle home and car insurance. (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. this past year has felt like a long, long norwegian winter. but eventually, with spring comes rebirth.