that's my belief we believe darden will continue to grow, on take market share.rnings per share growth which looks to be in the 22% area for calendar '22. >> bob, a lot of darden, there's a lot of casrbs in there how is that trending with investors treating restaurant names like that? >> it is trending really badly with me. i can tell you, my carb intake has gone up so bad question to ask me look, how would you like to project darden's revenues for the next three to six months it depends where you are on omicron. if you believe that people are going to power through this and still go out, then this company is very well positioned. darden has been growing their earnings along with their revenues for years they trade at a very reasonable multiple it is about 17 times 2022 numbers. that's excellent, right in the middle where it has been for years. they're not overpriced they're very fairly valued, some would argue as they are here that it is actually undervalued. under valuation basis i don't have any problems at all the problem i have is what side of the debate of

joining us now to discuss, the former darden restaurants ceo clarence otis.>> good to see you, tyler. >> you are still on the inside and know what's going on we referenced the departure of the current ceo next spring and stock is seemingly suffering a little bit today was this all planned and the successor is a longtime member of the team there >> yes, there was planned. about a year ago, darden announced that rick car dean yas would prove up to president and chief operating officer. that's a role, typically, where you are being groomed to be ceo. the expectation was that rick would take over. that's exactly the same thing that happened in the transition from myself to gene lee. gene was elevated to chief operating officer first. that is very planful rick is an extraordinarily capable leader as you mentioned, a longtime darden employee? let's talk a little bit about the head winds that face all restaurant companies right now, and it's on the one hand input costs, including labor, including food costs, and on the other hand, the potential resurgence of covid a

. >> darden restaurants is number three. here in the new york area, here at cnbc we are being asked to put back on masks in public places no matter your vaccine status darden, you think, can thrive even amidst uncertainty and insecurity about covid >> i can, because i think the casual dining market is so large. it is $195 billion total addressable market at the same time you have 10% capacity getting reduced so darden has size and scale i think that they can gain market share even in challenging times. they said last quarter that sales were back above pandemic levels so i expect that to continue and they are focused on profits over sales growth which i think is a smart thing to do it trades at 19 times. it is not expensive. mcdonald's trades at 28 times. i own that one but this is interesting because you also get a 3% dividend yield. >> stephanie, great. enjoy the tree >> do mine next, please. >>> so much for bitcoin at $100,000 crypto prices are pulling back again topd as hopes of a big run into year end begin to fade. a lo

andrew darden says it was an unsafe work environment behind the curtains marginalized. people have always had a problem and consent and oftentimes what happens is that they run against the long run against the law and they don't have any support. >> and so they walk away quietly and we licked their wounds and when we decided that we could no longer support but we didn't want to go quietly who want to help be a voice for everybody else felt that way things have to walk away for their own mental health physical health darden is also the former vice president and the londoners of the african diaspora. >> and advocacy group of black cast members of the dickens fair guard and didn't return to the fair this year along with 200 other cast members and thousands of attendees according to an online petition calling for a boycott. we were called fleets. >> not just by people that came to visit but have some others and that's i really want people to recognize that this isn't just because lots of people came to visit us. this is people who are playing with us. cardin says there's al

lennar, adobe, darden. should you be trading or fading these stocks right now we're going to find out when "fast" returns we are back in two ♪♪ ♪♪ move your money to sofi. download the app and get your money right. small businesses like yours make gift-giving possible. now, comcast business has an exclusive gift for you. introducing the gift of savings sale. for a limited time, ask how to get a great deal for your business. and get up to a $500 prepaid card with select bundles when you switch to the network that can deliver gig speeds to the most businesses. or get started with internet and voice for $64.99 per month with a 2-year price guarantee. give your business the gift of savings today. comcast business. powering possibilities. >>> all right. welcome back to "fast money. look at that chart things are rocking in the rock city that is detroit of course. shares of ford and gm have been booming lately ford, it had a big move today at more than 6%, or actually almost 10%. now at a 20-year high. the move co

andrew darden says it was an unsafe work environment behind the curtains marginalized. people have always had a problem with consent and oftentimes what happens is that they run against the long run against the law and they don't have any support. >> and so they walk away quietly and we licked their wounds and when we decided that we could no longer support but we didn't want to go quietly who wanted to help be a voice for everybody else felt that seen things. have to walk away for their own mental health physical health darden is also the former vice president and the londoners of the african diaspora. >> and advocacy group of black cast members of the dickens fair guard and didn't return to the fair this year along with 200 other cast members and thousands of attendees according to an online petition calling for a boycott. we were called police. >> not just by people that came to visit but have some others and that's i really want people to recognize that this isn't just because lots of people came to u.s. this is people who are playing with us. cardin says there's al

andrew darden says it was an unsafe work environment behind the curtains marginalized.with consent and oftentimes what happens is that they run against the long run against the law and they don't have any support. >> and so they walk away quietly and we licked their wounds and when we decided that we could no longer support there. we didn't want to go quietly who want to help be a voice for everybody else felt that way things. have to walk away for their own mental health physical health darden is also the former vice president and the londoners of the african diaspora. >> and advocacy group of black cast members of the dickens fair guard and didn't return to the fair this year along with 200 other cast members and thousands of attendees. according to an online petition calling for a boycott. we were called police. >> not just by people that came to visit but have some others and that's something i really want people to recognize that this isn't just because lots of people came to visit us. this is people who are playing with us. cardin says there's also been use of rac

darden was obviously looking to raise wages. a big thing.abor in the certain market for the restaurants. obviously you have to look at margins. you saw the darden ceo was focussed on profitability, and that's a big thing the fine dining business is one of the drivers of same-restaurant growth i think those are the two big areas. i look at the restaurants and the fine dining and how they're doing digitally as well as we need to man by making sure if laborability is strong i'd be looking to buy. restaurants have learned since march of 20 20, but not perfectly prepared for another environment like that. gm shares are not getting a boost after news of shorting the deliveries of the all electric hummer phil has more on what's driving that stock phil >> well, what's driving is it partially the news yesterday at this time. about the departure of the ceo of the cruise unite. today for general motors, the focus is on the first delivery of the all-electric gmc hummer and the significance here is t two-fold they said they would have deliveries before t

a ceo change at darden restaurants. they share is down about 4%.ou remember back in 2014 or so, when starboard was really rattling the cages on darden restaurants, and they put out that epic report basically saying salty pots interest your -- pots and treat your customers better. eugene lee was who they brought in, and he has done a good job turning around the olive garden and outback steakhouse. nevertheless, the president of the company will fill that role, at least in the interim. some of those issues appear to be finally sorted out. there's going to be a union vote on the latest contract sunday. tom: on the equity markets, anna han joins us from wells fargo, always wonderful, particularly on the dynamics she observes within the markets. i am not going to mince words about it. use a high quality is where to be. we are hearing that from wells fargo. we are hearing that from goldman sachs. others disagree. it is the risk of acquiring low-quality shares? anna: as we get more late into the cycle, that monetary accommodation decrease, this puts press

the andrew darden says it was an unsafe work environment behind the curtains. >> your call, please, not people that came to visit but have some others and that's i really want people to recognize that this isn't just because lots of people came to visit us. this is people who are playing with us marginalized. people have always had a problem with consent and oftentimes what happens is that they run against the long run against the law and they don't have any support. >> darden says that she provided fair leaders with an anti racism plan to improve the culture and environment kron 4 reached out to red barn productions, which is the company that puts on this fair and all they had to say was that the allegations are untrue. we'll take a break. 5.26 that i'm coming up next on the kron 00:00am morning news. breaking news from overnight. we have new details about the pfizer covid vaccine and how effective it is. >> against the omicron >> against the omicron variant. we'll be right back. hi honey! hi mommy! oh i missed you! you just want to video call the kids. ok. hush little baby...don't say

on the 2nd, his flute cut us over him, some mom the ident, none the ones, lazar dont alonzo darden diaz, afghanistan. i'm good kids and what our hun dimension they dog in nor don't all not so good leave the american non saga does via us fee and time on annoying there to god all as as to hold them. so glad father feels in these m yavari zones hoffman mouth. if then gun the easy as a leader t admitted fruit of fun and spin on for alum guns, fear tart craft to give it anger undefeated union on mr. human mention dizzy. fer overt, unclear massage sciences on the anger and the other. the other stim up gave mom in michigan, valen owned on the our, to advise and as they're more cognizant yuba gangs in gig, inserting in respect, feel the mention sound gets made. no idea of mit hoffman. gov and annoy abundance. the geelong dizzy feel. fog a nominate. fill in the land. father my bank age and us even i'm to heal on goes more in ireland. lincoln on z like his there's of zill feelers, cassia, tactful. talk him soon. so feel of parking guns at 1st and the hit on the other can up from talk. phil talk d

. >> darden, olive garden's parent, they got an upgrade. >> darden put in a strong report card.c bread, or it is a by worth $155 and incoming leadership change and new ceo or catalyst for the stock, people want to get out. >> they find positivity. a dismal wednesday morning, crypto stocks, slightly in the green. what is going on? >> 49,000 here, we saw bitcoin on the biggest single day rally up 5% with a broader recovery. they are still below 50,000, up 70% on the year and the fact that bitcoin trades, more institutional buyers, the pension fund has gone into that, that means more mainstream adoption and oppenheimer calling coin base global a top pick for next year 2022. remember this is a holiday shortened week with a lot of volatility and upside and it affects cryptos too soon. lauren: look at the winners on the dow jones industrial average, intel, goldman, microsoft, caterpillar and nike, and the s&p, host hotel and resort, live nation, marathon oil and on the nasdaq, flip the screen. paycheck synopsis and the 10 year treasury yield as the dow is up 11 points. it is one.44%.

the dancing on the cyclic, his flute cut us over him. sama, the dank, nun ones lazar. danton on z. darden diaz afghanistan. i'm good kids. and would all hon. dimension the doors in nor don't all not silica, believe they're not on the ones organ, but does via us, few and time on annoying there to god all as, as to hold them. so glad father feels in these m. yavari zones hoffman mouth. if dan got on the easy, consolidated tail mid in fruit of fun and spin on for alum guns, fear tart, craft, again for it anger, undefeated union on me. so human mention dizzy fir, overt, unclear mustard sciences on the anger and the other. the other stim up gave mom investing in violin and on the out on visor as the more competition uber gangs in gaines i think in with respect feel a mention sound gets made. an idea of mit hoffman of and annoy abundantly geelong dizzy field for g. a. nominate, fill in zealand. solemn about thank age and us even i'm the youngest, more in ireland lincoln until i get those of zill feelers, cassia tag for talk him soon. so feel a parking gun said 1st and the hit on the other can u

. >> that's a good point about beef, that's interesting tell me about darden you seem to be more neutralwell they were making another million dollars in additional investment in their team members as we move forward in fiscal '22 including getting all starting wages to $15 of $15 an hour, taking wage increases starting in zbran for tenured employees. also committing to having a $17 average wage by the summer of 2022 in addition to all the other benefits and growth opportunities that starbucks provides i actually think they are one of the better-positioned companies in terms of attracting and retaining team members to continue the phenomenal recovery they have had in sales as well as growing new units obviously, some ofrd but i don't think it is going to be a widespread phenomenon for starbucks or the rest of the industry. >> bullish on the restaurant space broadly speaking, we appreciate it. >>> coming up, last weekend's bitcoin crash tigering investors to sell, down 10% this week. who is lowing in the towel on crypto may surprise you. we will at the you that next new projects means new

rashid darden in 2018 wrote the following: students don't typically have a great understanding of theconstruction, the jim crow south, the racist north. there is really not much after harriet tubman until we get to the civil rights movement. their body of knowledge is focused on those couple of things rather than the interconnectedness, the intersections. that's why i wanted this conversation to not only utter the words critical race theory. really what this is about is how do we improve the education history in america. keith, where do we begin? >> we begin by telling the truth, chuck. i think you're right that all of these things are interconnected. i was listening to the conversation you had with nikole hannah-jones, and 1619, indeed, is a starting point. but we have to talk about the black colonial american experience or the experience of people of color pre american revolutionary war, but also what was going on in the new national period of the turn of the -- 18th century, leading up to the 19th century and the civil war, abolition, reconstruction, the post-reconstruction period,

just had is the casino side of things and i would argue even the restaurant side of things like a darden or a brinker international or something like that. let's -- i want to get to one last point here. and one that also hasn't been brought up and that's the ride share side of things we're talking uber and lyft. guy, i have actually taken ubers and lyfts a handful of times over the course of last few months here. it seems kind of normal. i'm still back in a mask but i talk to the drivers i'm with and they seem to think there is no other drivers out there. they're busy as heck because they don't think there is as many colleagues out there driving. is there a cap to the business that uber and lyft could see for taking passengers around, not food, passengers >> i don't know if there is a cap. i'll one up you, by the way. i worked at lyft to throw that out there. >> i remember that >> of course you do. i was hoping to get you as a passenger, i was thwarted in my efforts. he actually -- we asked him, we said, you just came off a ridiculously strong quarter, all the metrics were great, are you

darden has deep pockets. they can afford to win in this industry i'm looking for a solid report on friday. here's the bottom line we have a clear setup next week. if you want to trade, you're betting on whether jay powell steers us toward a hard landing or a soft landing. but if you want to invest, get high quality stocks with great longer term prospects. let's take some calls. let's start with matt in new york matt >> caller: boo-yah, jim. how are you? >> i'm doing well, matt. how about you? >> caller: i'm doing well, my friend thank you. appreciate everything you do for all of us investors. >> thank you very much >> caller: jim, wanted to get your thoughts. i noticed today, i love this stock before i liked it during infrastructure now that we're past the bill, i still like it. it seems like there's a vast array of opinion on it, caterpillar. >> there really are. there are people who think the raw cost of metals are going to hurt them. the people who think it's levered to china and china is cutting interest

jetblue, wynn resorts, darden foods. all of them moving down.g stocks perform better, including zoom and netflix and chewy. oil prices also down on concerns about less demand. people taking fewer road trips, flying less often, maybe commuting less often. normally i'd be doing this on set with you and i'm not because of covid. the good news is markets are finishing off their worst levels of the day. no panic, but victor, all of this is clearly a reminder that as much as we're all done with covid, covid is not done with us. >> certainly not. i miss you on set, but the up side here is i get to see your christmas tree and it's a very nice tree there behind you. >> thank you, victor. >> matt egan, thanks so much. "the lead" with jake tapper starts right now. >>> this year's hottest stocking stuffer is a covid test? "the lead" starts right now. the holiday season looking grim. some tough weeks and months ahead warns dr. anthony fauci. as the nation sees cases surge days before families gather for the holidays. >>> democrats fume over senator joe manch

. >> darden says that she's provided fair leaders with an anti racism plan to try to prove the culture environment. we did reach out to red barn productions. that's the company that puts on the fair. they claim the allegations are untrue. we'll see what happens this year. >> coming up after the break, san francisco's climate action plan was just released how the city's plan is going to come about to be emissions-free by 2040. that's coming up in a live report. ebenezer. ebenezer. marley? first you will see the past. excuse me! coming through! ugh! and then...the present. and finally, ebenezer...the future! introducing the all-electric eqs. happy holidays from mercedes-benz. >> 7.29 right now. and we're checking out as a vo i'm going to be picking up my that's, you know, christmas vacations, the kids all come home from college around headed home for the holidays, but i'm too good for a number. i prefer oakland. you do airplane because you like on time not that sfo has a her say just do you know. so it's a but they're working on but it's going to be pretty nice out there, i guess it unti

leandra darden says it was an unsafe work environment behind the curtains. >> your call, please, not others and that's i really want people to recognize that this isn't just because lots of people came to u.s. this is people who are playing with us marginalized. people have always had a problem with consent and oftentimes what happens is that they run against the long run against the law and they don't have any support. >> yeah. garden says that she provided fair leaders with an anti racism plan to approve the culture and environment. we did reach out to red barn productions. the company that puts on the fair. so far. all, they said it's just these allegations are untrue. >> time now 6.39 and what is going to have with the a's oakland. mayor libby shaft was in dc and you can see here a picture of her having a sit-down meeting with vice president kamala harris and the mayor tweeted out this picture and said they were discussing money from the build back better plan and also the recent infrastructure bill and how it might facilitate oakland's pitch to keep the a's and get a new ballpar

what is your final trade >> darden.ades at 19 times and gives a 3% yield casual dining total addressable market is 195 billion and they're taking market share. expect a good quarter this friday >> we talked about the other restaurant calls it wasn't on that list but it is on yours that's what matters most, steph. thanks the good farmer, farmer jim. >> this is planting an early seed with bristol-myers. to say that the stock has been difficult this year is an understatement but i think yesterday's dividend increase and share repurchase, and it is a pretty big share repurchase, more than 10% of the market cap, is the potential catalyst that it is going to break out and continue to break out. so bristol-myers squid >> pete. >> you know i love those financials i am looking at aig and i haven't seen it in a long time but we had a buyer buying the december calls where the stock is trading right now i haven't had a chance to buy it yet but i probably will be in the calls before the end of the day. >> looking at the stock as we

talking about oil and gas, exxon, chevron, those kinds of companies travel and leisure names like darden and marriott, those companies got hit the hardest. >> makes sense dom chu, see you monday, thank you. >>> there's big news on another front. we're on deliberation watch tonight for several high-profile and important cases. latest reporting on the blockbuster trials now that the fate of all three women is now in the hands of juries. >>> and a young girl brutally murdered more than 40 years ago. the killer never found oh, but there's new forensics and that may just have allowed police to make an arrest. >>> plus, blackout over. youtube and disney reach a deal. the customer is impacted and how they will be compensated for their trouble. >>> the facts, the truth, "the news with shepard smith" back in 60 seconds (vo) t-mobile for business helps small business owners prosper during their most important time of year. when you switch to t-mobile and bring your own device, we'll pay off your phone up to $1000. you can keep your phone. keep your number. and get your employees connected on the l

about oil and gas demand, exxon, chevron, those kinds of companies travel and leisure names like darden and marriott, those types of companies were the ones that got hit the hardest >> makes sense dom chu, see you on monday, thank you. >>> there's big news tonight on another front. we're on deliberation watch tonight for several high-profile and important cases. the latest reporting on the blockbuster trials now that the fate of all three women is now in the hands of juries. >>> and a young girl brutally murdered more than 40 years ago. the killer never found ah, but there's new forensics and that may have just allowed police to make an arrest. >>> plus, blackout over. youtube and disney reach a deal. the customers impacted and how they'll be compensated for that you are trouble. >>> the facts, the truth, "the news with shepard smith," back in 60 seconds. >>> we're watching closely three big trials all of them are with a jury now. in california a jury began deliberating in elizabeth holmes' fraud trial. she's facing accusations she lied to both investors and patients about her blood tes

. >>> in the meantime a bunch of calls on williams sonoma, darden, cat, apple and a lot more we'll take a break and be back in a moment. don't go away. mom, hurry! our show's gonna start soon! i promised i wouldn't miss the show and mommy always keeps her promises. oh, no! seriously? hmm! it's not the same if she's not here. oh. -what the. oh my goodness! i don't suppose you can sing, can you? ♪ the snow's comin' down ♪ -mommy? ♪ i'm watching it fall ♪ watch the full story at www.xfinity.com/sing2 >>> when we did the fog deal, it was always through the lens of the scale of needing success in the digital platform space none of it was viewed as a traditional media play we knew that we are buying on traditional platforms with traditional models, but in terms offal value creation, it was all tied to the growth of digit at platforms globally more about money with rupert, less about legacy of the acquired properties? i don't know when you say money per se, but rupert was very focused on the scale that was necessary to be successful in the media company in a new world, particularly with incurs

. >>> some of the other movers this morning, darden will get some attention the ceo will retire in mayly do raise their guidance, guys, on revenue, eps and comps. for the quarter itself, an interesting set up, fast casual has been able to adapt to more delivery, a dine-in has taken it on the chin, but also rode the wave back to more in-person dining it will be interesting to see how they strategize that over the longer term. >> definitely focused today. this is a ceo i think that has been well received and performed very well from a market standpoint, so perhaps not surprising to see the stock understand pressure despite the fact it did have strong comps. this goes back to something we've been talking about, the mergen of e-commerce and retail. but you see that here with restaurants as well, to your point, around delivery, some companies setting up ghost kitchens, and then,ers -- of course, the increasing role that some of these technologies will -- especially as you do have -- i think of denny's that was on with us not that long ago, moving to make sure they have never workers to keep

upgrading darden restaurants advantages in marketing and supply chain management, that stock up 1.4%.arnings but announced the retirement of its ceo which has weighed on the stock. loop upgrading williams-sonoma to buy from hold the firm says the pandemic likely to remain a tailwind well into next year that stock up 2.5% it's been a big winner for the last 12 months or so jim cramer talking about it in his investing club newsletter today. to sign up, you can head over to cnbc.com have, investingclub or just point your phone right there at the qr code on the screen it's been a jim favorite, mike, for a long time, and has done very, very well, pandemic and pre-pandemic >> even after this pretty sharp pull-back recently from the highs, it's more than doubled. obviously considered a big winner in that group, williams-sonoma. time now for a cnbc news update with kristina partsinevelos. hey, kristina. >> hi, mike. here is what is happening at this hour. texas anm has pulled out of the gator bowl college football game due to covid and injuries. they are aggressively looking for a replacement

jobless claims and housing starts on thursday on the earnings front we'll hear from lennar and then dardenfor more on this right now let's bring in barry knapp, managing partner and director of research at iron side's macro economics we had so many things happening last week, maybe the cpi information is something to really pay attention to. where do you come down on inflation and what the fed might do in reaction >> well, i think as we get into next year, we're for sure going to see goods related inflation coming off, it's running at 9:00 p.m. -- running at 9%. it's been a theme we're not going to get prices like we had in the '90s, 2000s and '10s any longer so that was going to push the trend up it's unlikely to remain at 9 what we will find in 2022 as goods flags inflation come down, goods clear, we're going to be left with higher sectors. we're getting transitory disinflation in health care and education, those are likely to pick up. the fed has themselves in a bit of a pickle here, even if they're right to an extent that this is transitory, meaning the goods and supply chain issues th

. >> darden restaurants - dave: micron tech and microchip, the chip industry is going through extraordinarychain shortage. are you a fan? >> i'm a huge chip fan. intel is a lag, nanometer technology but in the chip shorter, the global supply chain crisis everybody needs that. dave: here is a look at the big board, the dow has come back from its opening start but is up handily at 224 points to the upside. looking at the yields and the 10 year treasury to 3.6 basis points, almost 1.5%. gold is up $9.20 an ounce but still below 1800 trading at 1785. bitcoin is up below 60,000 but it is a little bit up a little bit, $1,000 a day is a little bit for crypto. crude oil is trading up 3%, concerns about omicron listened today as a result of that. don't you hate to be dependent on opec, we went for two years without having to worry about opaque, natural gas is down and that is good news for people who heat their home with it. the average price for a gallon of regular trading at $3.39. that is the average. in california it is all the way up to $4.71. some places above $7. speaking of california crime

stuart: darden restaurants lose a lot of chain restaurants, what -- wait a minute.t big a deal? >> changes in leadership, an excuse to sell in this quad witching environment where you see volatility. jean lee stepping down may of next year. the board has chosen the chief operating officer, business is pretty good. they are getting workers which is the hard part. they will raise the minimum wage to $12 an hour starting january next year. the average pay will be $20 an hour and that doesn't include tips just yet. that's a competitive environment for workers and how much you have to pay to get back to work. stuart: can you spell out why this is a big deal? oracle in talks to buy the electronic medical records company serna? >> a $30 billion deal here which is the biggest oracle acquisition since 2005. the journal reporting the biggest ever for oracle. larry ellison predicted we grow organically and oracle has been up and up swing up 15% after those earnings, profit and sales would accelerate into next year and oracle is waking up to the fact you have to get bigger. the

and companies relatively unstable occidental and darden, and then as we go often in this hour of "squawked on the website cnbc.com from yesterday's trading session. the number one to ck ticker. and analysts calling it one of the top picks for 2022 and bna, and tesla also in there, elon musk sharing more shares, down 1.5%. gamestop down 3.5% amc down 6%. arena pharmaceuticals following up on that big day yesterday on the pfizer acquisition news. the rest of the top-ten, becky, on my twitter feed back over to you >> dom, real chquick, i was goig to ask you about amc before you brought that up, and others, wow. one month ago, amc, you know, 45 21 today you know what i was doing a month ago? gamestop -- a week ago -- no a month ago, 2.50, less than a month ago, 1:30 today. >> it seems like not that long ago, but it was almost a year ago, right, when we were talking about the robin hood phenomenon, the meme stock frenzy, january, february of this year, right i was looking at a full-one year chart of amc, it's pretty crazy just the kind of ride we've seen over the past year with that stock. >>