how about estee lauder the stock is down 100 points from its high. she would say you know what? i like that mac makeup let's buy it another criteria so she hit the goldman sachs wire and the voice on the other end, buy me 250 lauder, mining buy 50,000 shares of el, i don't mind paying a higher price and that's how a $273 stock changes directions of course, it's not always that simple i do my usual hand-wringing. if i were running a hedge fund right now, i'd be worried about ukraine. but she'd be worried about missing the rally. you get the due walt of human nature and the volatility seen all in one right now you're seeing a similar dynamic playing out all over wall street that's how you get a rally like today. why does it work let's be a little less glib, although i did wear the post it on my head -- well, save that for another time traders really do like to buy stuff that feels fresh and new they do get bored with the winners and want new winners intel may be a semiconductor dinosaur, but with the yield near 3%, it certainly feels fresh and new to the hedge funds which why you

in technology or in places like estee lauder.e are thinking about rotating names that are approaching fair value with industrial opportunities we have not seen for a long time. tom: cannot will stay with us. hannah gooch peters, global investment analyst at sanlam. barclays will take a 450 million pound head on what is being described as a bizarre bond blunder that will delay a share buyback. this is bloomberg. ♪ tom: welcome back to the open. barclays shares falling after a massive bond trade offered at a discount as the bank said they would take a hit on a blunder that analysts are calling bizarre. we are joined by our finance editor tom metcalf. how could this happen? tom: a lot of people have been messaging me and how could the bank let this happen? essentially it is a clerical error. 20 billion sounds like enough, and 36 billion before they realize and now have to buyback that excess. that is where that losses coming from. an extraordinary situation. i've never seen something like this and a lot of people cannot believe it h

sites and shipments to any of their retailers in russia so fairly significant move there from estee lauderof their business in russia >> reminds me, goldman had a note, a screen of -- jpmorgan u.s. stocks that we would -- that we would mention, frequently with exposure to russia, ukraine. phillip morris is obviously the one you'd probably think of first, but pepsi's in there, then mcdonald's, then carnival, mondelez, kimberly-clark, a lot of consumer products. >> and have been decades this is maybe not the moment where people realize, figure out if there was an overreaction, if this is going to be the new mode if there's some kind of, you know, public outrage about some regime in the world are we going to just demand immediate disinvestment. i mentioned earlier that, you know, i think it was baird who basically went more neutral on bank of america from the equivalent of a sell rating, basically saying valuations have come down into line, looking better risk reward for that reason bank of america up about 8/10 of a percent this morning banks in general getting a little bit of relief if you

pepper, estee lauder and coty, because peoplegretting out and about, but these are companies that haveals going up the most. when you think about the energy complex, aluminum to some degree, although it's mixed on that, when you think about some of the vegetable costs that have gone up because of what's happening in ukraine and russia andi indi indonesia palm oil restrictions we tried to craft a top ideas list around this theme and it seems to be manifesting. >> nik modi, thank you >> you bet >> up next, can american households absorb higher inflation for longer a new report puts that question to the test. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ (vo) verizon business unli

estee lauder is still in there makes no sense when the competitors have pulled out.ation with the larger russian public. they hoo care about their he reputation with the world public. >> that's interesting, jeff. last week there was discussion about high-end brands that were catering to russian elite. although there was a counterargument that maybe some of those people might be against the war but were looking to translate some of their assets out of rubles into handbags and jewelry. i wonder how that's -- how that calculus is very fraught >> you are right we saw this big split in the fashion business and interestingly, as you take a look at, i don't know, the uighur problem with shin general province in china, the fashion makers were the first to move on that voluntarily and it was impressive they are usually the first to respond on voting rights issues, immigration, they are sensitive to public opinion. in this case they are dragged kicking and screaming because they are afraid of the long-term loss of anchoring in the larger russian public those luxury brands and

re-rating on the stock and we like names more exposed now to reopening and underlying trends lie estee lauderconomies and airports and stadiums and that sort of thing? >> yeah. 2 no i think even proctor seeing some benefit from some categories like deodorant, grooming, shaving, also beauty not the same level that we are going to see probably for estee and coca-cola. case of coca-cola 5% revenue in basically on premises. that's the reason why we like it better on a relative basis >> which is basically out of the house. who has pricing power and who doesn't? a. great question. coke is one example has a lot of pricing power. proctor also has a lot of pricing power. not the reason why we took a pause here on a relative basis the stock's trading at a multiple relative to history three terms more expensive on basis than peers, and we see, like, more up side for names like estee, still benefiting from consumption away from home, and, therefore, we see more there. >> and valuations? consumer staples only down 1.5% this year, because we've seen the market volatility and increased recession concerns na

for average russians, the departure of retailers they're seeing shut down mcdonald's, shut down estee lauderat's important was the divestment of bp shell from the energy sector. are right now, what we're waiting for is the financial sector which is at the very heart of the situation. citi, ing, barclays credit, unicredit, they continue to finance. most of the companies there, the russian economy. companies like citi which represent america globally, need to take the time right now and make the right decision both financially for their company and morally for all of their clients and shareholders. >> were a foreign minister after, i understand, the annexation of crimea. what -- you know, seeing putin celebrating the anniversary of the annexation, with a huge concert and so on, i mean, what did that feel like for you? >> oh, it reminds me of pictures of nazi germany. we saw the stories on tv of many of the people being bussed there forcefully. but many being there voluntarily. what it tells me, he dr. an enormous amount of support amongst his own people. the stories, the disinformation that's

a long list of major companies have already pulled out, including estee lauder, disney, netflix and tiktok's. san francisco based uber is helping ukrainian refugees get to safety in poland, the rideshare services providing free unlimited rides between ukraine's border at a number of polish cities. uber will also deliver goods to nonprofit warehouses in poland for free. the company is working with the international red cross to transport 60. tons of essential supplies collected in romania to communities in ukraine. this saturday, golden gate park in san francisco will host a humanitarian relief concert for ukraine. the event will be held from noon to four o'clock at the golden gate bandshell in the music concourse. organizers including the san francisco recreation and parks department hoped to raise $20,000 donations will benefit world central kitchen, which has been working in ukraine and surrounding countries to feed people who are displaced by the war. happening now a group of people is beginning to gather outside of san jose city hall tonight for a peace vigil supporting the people of ukr

said a lot of good things you know, i think ulta management is terrific they have a lot of great estee laudern a lot of areas all over the country i like the case for ulta steve in california, steve >> caller: thank you for taking the call >> quite welcome >> caller: my question is in the current rising interest rate environment we're having, they have a yield of 4% plus. are they going to be able to pay dividends in this environment? >> i got to tell you, i never thought i would say this, but in the last two quarters, i have come around to the idea that you can own kraft heinz. now, when i say that, it's been a company that slashed and burned and didn't do anything what i call growth but now it's got some growth i think you're fine with that one. i can't believe i said that, but you are. ia y have been telling you this is a tough market but i want you in it. i don't want you to run from it. i have been saying conservative stocks for the committee that we have, the club for the monday morning meeting. and when i look at this proctor, i'm thinking wow, this may be another one to own it's safer

new york's pension chief has sent a letter, he wants to consider mcdonald's, pepsi, estee lauder, tellingusing all russian operations, mcdonald's - >> well, mcdonald's is still operating over there, as you know. liz: they have tons of stores. a thousand. enter they built their first store in moscow, i think, in 1987. liz: and most of them are, i believe, owned by mcdonald's. they're not franchised. >> i'm just saying this is getting messy and, again, that's the reason why the markets are trying to forget out exposure. the u.s. may be somewhat blunted if you're in a u.s. investment fund, but if that fund has exposure to european assets, which a lot do, right? liz: yeah. >> these european assets are going to take a hit, obviously. liz: good to see you, charlie. can i have my if wallet back? >> i want to see what's in here. liz: there's a j. gordon liddy. p squared, putin and powell. driving the markets w. today's countdown closer has a third p he says you need to be considering -- >> there's a marijuana cigarette. liz: you know, not funny. ♪ ♪ alright, so...cordless headphones, you can watc

a long list of major companies have already pulled out, including estee lauder, disney, netflix, as well as tiktok's. joining us live this afternoon is matt cavett, associate professor of public relations at san jose state professor boy companies, certainly feeling the pressure to drop their presence in russia. absolutely i mean, it's no longer ok to not take a stand on stuff, and certainly this war is so clearly wrong. that the public demands that organizations do take a stand and it goes beyond even articulating your values. you have to demonstrate those values with tangible action and pulling out of the market. there's a tangible action. okay so as you mentioned, it is growing more and more difficult for companies to just sit by idly and stay out of current events. that's no longer an option. it's not silence is not an option because you cannot not communicate and public the public demands today that we actually have organizations that are good corporate citizens. and when consumers have a choice, then they will demand that whoever they're in business with is actually being a good cor

, input costs, you are seeing these high-quality companies take short-term hits in places like estee lauderality brands, please like l'oreal that have very good long-term potential, and they are trading on expensive valuations, but while we have short-term focus in other parts of the market, we can start to be more aware of parts of the market that have pulled back and look at the discrepancies we are seeing. guy: does the volatility affect you in anyway? in theory, you get twice the dispersion, you should take half the risk. i simplify for brevity. when using about risk management tools, what is the volatility we are seeing right now and the huge swings doing to that? hannah: we typically participate in a lot less of the downside of the market because we are looking at companies with very predictable earnings streams that have good balance sheets, and they tip the weather volatility a lot better than some of the companies which have no earnings at all. i saw today that the nasdaq, 40% of the nasdaq has no earnings at all, and you've got half of that index down more than half from its 52% h

estee lauder renews and expands in lower broad kay morgan stanley takes 400,000 feet on park avenue plaza >> 100 park avenue, 300,000 feet ben tex. and then layering crypto companies. they have taken 500,000 feet this last year we signed a 10,000 feet tenant with a company called ephiphany. then you have life science so what hnew york has done is adapt. what's our strength, our diversity of talent and people, the ability to access capital, the human capital as well as the financial capital, and we are going to build off of that, tough two years. no question about it and we'll have bumps along the way, external events happening around the world. >> sure. got it get carl in here. >> i wonder what you make of nba games, tsa through put, open table, box office. people are doing stuff but castlethrough put office card swipes are stuck? the 30s. maybe the only thing that will fix it is if the labor market loosens up, right? >> yesterday came out with the job requirements, how many jobs are out there. i think 13 million jobs. so those -- and also to me it ties in, yes, people are coming back the

major fashion brands, estee lauder, tommy hill for and forever 21 they are offering in participatingng it decentral land and using event to study how consumers will shop in virtual world. est effort e lauder is giving nft's. decentral land, maria, this is what happens when somebody decides to company meta and now names a fashion up. you can't make the stuff up. maria: it's quite extraordinary. where will the humans go? we are watching this metaverse develop and this is going to have big implications, cheryl. cheryl: it will. a lot of people are into it. they could have come up with a better name. [laughter] maria: all right, we will be watching that. president biden meanwhile this morning announcing a deal to expand the amount of liquefied natural gas export today europe as the eu moves to cut off russian energy. yesterday the president was asked about removing russia from the g20 as well. watch. >> does president zelenskyy need to siege any territory in order to gain ceasefire with russia and also do you think that russia needs to be removed from the g20? >> on the latter point my a