i think that estee lauder uniquely is about to go back to the 300s because it was bad only because of now china's coming back, and you should buy it fabrizio will not let you down who is doing that? >> it's coming back to flat. >> names >> carl, to jim's point, they even said, listen, chinese travel was not a part of those numbers. china is, as we know, much more open travel is back, and estee lauder's expected to succeed we do have a lot of weakness, carl, in merck and in eli lilly. david ricks was a guest earlier on "squawk box." >> yeah, stock of lilly, lowest since october. they did raise their guide, but when your tax rate is 7%, people are going to call it low quality. >> okay, so, people were keying on the majority number this is the drug that i told you, the weight loss drug. right now, people are taking wagove that's the one that the insurers will payfor. right now, $1,700 a month if you want to lose weight. diabetes is proof for it ricks did not give you the kind of thing that a lot of people want, which is to say this is going to be the greatest drug afof all time he's very

club estee lauder has this big business in duty-free and big business in china where it's switching, which is what you have when you mask, cleansing, to make-up, when you take off the mask and go outside, and that is the estee lauder theme i don't think that the chinese want to confiscate anything that is for china, by china that is why i think that apple's been okay. nike, for china, by china. the reopening's real but the stock market of china is manipulated by the government, and anybody who doesn't think that just has not seen how the government acts. >> yeah. we were talking about a.i. earlier. snapchat now, jim, says beginning to roll out my a.i. to snapchat plus subscribers in the united states. there's one more player in the pool >> they should roll out the my, stop losing money. look, when they do the my "i won't get crushed if i buy my stock" app, i'll be all over that right now, hard pass >> are we in that mode where we jus just start putting a.i. on everything >> yeah, my middle initials are going to be a.i. there is a repugnant attempt to get in we've seen this time and

. >> thank you stef, estee lauder sold at $270. did i get out too early?y very much because of the china reopening 30% of their revenues are from this region, so if you think the country will open, they will benefit. they have a great pipeline i like it on weakness to buy >>> final trades are after this break. go. go lights. go big city lights. go spotlights. go stadium lights. emerson software helps clean energy become reliable electricity. go “good night." go boldly. emerson. i think i'm ready for this. heck ya! with e*trade byou're ready for anything.. marriage. kids. college. kids moving back in after college. ♪ finally we can eat. ♪ you know you make me wanna...♪ and then we looked around and said, wait a minute, this isn't even our stroller! (laughing) you live with your parents, but you own a house in the metaverse? mhm. cool...i don't get it. here's to getting financially ready for anything! and here's to being single and ready to mingle. who's ready to cha-cha?! ♪ yeah, yeah ♪ all across the country, people are working hard to build a better futur

i'll throw in estee lauder which acts like garbage, by the way. they will benefit in a huge way if china reopens consistently. >> you were going to say schtick, also. >> i almost did. >> jersey girl, scott. >> discretionary, information technology has had a good year to date almost as well what about the state of the tech trade which i feel like, you know, there's a lot of hype around ai, as firms daily come out with their this is the way to play ai today and it's bank of america with their top picks, no shock here. alphabet and apple, microsoft, meta, as well. kari, is this fundamentals or froth? >> i'm making a big push into ai that's our next initiative because everybody is doing it. it's become a fad. it's become to some extent -- >> is that what it is? >> it's not a fad. or froth it is something for which everyone seems to need to announce that they have an initiative at the corporate level whether it's a technology company, communications company, pretty soon you'll hear it with transportation companies >> like block chain in 2017. everybody

. >> shannon, you own some of the stocks listed in this including estee lauder what's your take about this thought with commodity prices decreasing that pricing power can stay the same? we just spent a few minutes talking about perhaps the consumer weakening >> well, i mean, so if you think about the volumes these consumer staples companies do, frank, it doesn't take much in terms of improving input costs and really a very modest improvement in operating margin to really be expansive from a bottom line perspective. i would caution this for me is more of a valuation question, and michael just noted this, consumer staples stocks performed very well last year. if you think of the rationale for adding them to your portfolio, you have to look at the underlying margin improvement you're going to get and see if you're going to get that expansion of earnings that justifies the valuation at which they're trading at today and i think there's a handful of those. i would say you have to be very careful that maybe some of the run from a defensive rotation perspective has already occurred, and i th

. >> like estee lauder, friday the asis -- assistants are the bosses >> we are trying to recoupe losseserday, dow up 52, s&p 4,005. go production. go faster and safer. emerson automation software helps breakthrough medicines get to market at warp speed. go human go. go boldly. emerson. ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> good wednesday morning and welcome to another hour here o

next up, shares of estee lauder which are down 4% premarket. roughly 30,000 shares of volume. wednesday on canada goose. missing projections for both profits and revenues a disappointing forecast there canada goose shares down 6% right now. that's the consumer look. >>> coming up on the show, an interview with david ricks that's minutes away. >>> plus the market getting ready for an apples earnings report after the bell. a review of what investors can expect when the numbers hit. "squawk box" will be back after this break it's time for the ultimate sleep number event on the sleep number 360 smart bed. science proves quality sleep is vital to your mental, emotional, and physical health. the sleep number 360 smart bed. it's temperature balancing, so you stay cool. it senses your movements and automatically adjusts to help keep you both comfortable all night. our smart sleepers get 28 minutes more restful sleep per night. and now, save 50% on the sleep number 360 limited edition smart bed. plus 0% interest on select smart beds for 36 months. ends monday. >>> good morning the fed