our conference it is our investing club club meeting, and i am going to talk extensively about estee lauder but i am not going to disagree with what scott in south carolina with a very informed position just said no disagreement with scott, but estee lauder will be entire flushed out by me at noon. i want you to be in the club right there. let's go to stackwell in washington stackwell. >> caller: boo, boo, boo-yah, jim. how are you? >> highly original i'm doing fine how are you. >> caller: oh, man, i'm all right. yeah, man, i want to thank you for all you have done and, jim, a lot of them haters hating on you, but i'm from seattle. we'll get the seattle kraken any time. >> my wife was discouraged i think you are at this point more hated thank putin i said, listen, it's been 5 and of the whole way with twitter. sometimes i'm 6. sometimes he's 5 don't write me off yet. >> caller: we got a lot of people that got your back in a lot of strange places. >> thank you >> caller: what i can definitely say -- ♪ hallelujah ♪ >> caller: we've had a lot of analysts that you told us not to listen to upgra

the estee lauder guy met with tim scott and ken griffin left chicago.arted hedge fund citadel and bought property in palm beach and moved to miami. i think they will support who wins the primary, they are pushing the one they like now. >> brian: not one side will go the whole way. they will have ups and undoes. no one has seen anything like donald trump, twice indicted, dominating every news cycle and by having 30 to 40% lead. they are waiting to see if any court cases will stop him in his tracks. so far it let him dominate. whether people feel stalwart to back him, he dominates. the field freezes and they concentrate on donald trump's reaction and size of the crowd, instead of talking about who they are, which is typically the way things are done in the past. tim scott seem to be getting centers, but for desantis, seems his group is starting to say issue put him in adversaryial situations where he might have people challenge him more because in the past, it is a great formula, he excels when he's challenged. if you remember 60 minutes and reporters goi

beauty products maker estee lauder, which sells products in about 150 countries, says a hacker had obtained working to understand the nature and scope of the data that was stolen. the incident was expected to cause disruption to parts of the company's operations. children in some parts of england who need urgent dental treatment are facing waits of up to 18 months, according to new data. the british dental association says vital work to prevent tooth decay is not being done, leaving some children in prolonged pain, and in need of a tooth extraction. our health correspondent dominic hughes reports. it is time for the teeth team at maybury primary school and how. these local volunteer dentists and nurses visit schools in the area to help spot problems with teeth copy such. ,, . , the such. such big teeth here. they are needed _ such. such big teeth here. they are needed because _ such. such big teeth here. they are needed because this - such. such big teeth here. they are needed because this part i such. such big teeth here. they are needed because this part ofj are needed because this part o

also had some activists in there, and could be a sale >> so you trimmed estee lauder, which is interesting because it's been disappointing. we talked about the china recovery, luxury travel, whether it's a disappointment or not, at this point relative to where people thought so you trimmed estee, and bought more laurial take us through that logic >> it's a very small position. i think that the travel retail business in china is permanently broken what they have changed there pricing structures, i don't think this will be a short-term recovery again, estee is trading at a much higher multiple laurial's beauty business is gaining team it has less exposure to china than estee >> it's still elevated multiple, laureal is >> right so, again, it's like the splunk/cadence trade, just trying to lower the pe, get expectations a little more realistic. the beauty business we think is a good place to be if we do get a recession, it will trade down and that will help >> estee got downgraded today from overweight. >>> "final trades" is after this quick break. what do you get from the morgan stanley clien

estÉe lauder. lauren: down 3. 5%.lays cut them, a disclosure with cybersecurity incident caused, expected to continue to cause disruption in part of their operations, that increases challenges for them. they used the word systematic. we won they really got hurt by the cyberattack. i can see that. thanks. california governor gavin newsom wants to give undocumented farmworkers free legal services. we will get into that. artificial intelligence experts warned our military is at risk of falling behind china when it comes to ai. lieutenant general keith kellogg takes that on. ukraine under heavy fire for the third night in a row as russian threats to target any ship leaving ukrainian waters. this is all about the stoppage of grain exports and it is a big deal. alex hogan has the report next. this is american infrastructure, a prime target for cyberattacks. but the same ai-powered security that protects all of google also defends these services for everyone who lives here. ♪ stuart: on the markets this morning, dow industri

. >> estee lauder. >> give me something >> estee lauder has been horrendous >> okay. >> disney has beening microsoft, yesterday, was down 15 i told people in the trust, buy it right now, it's coming right back people forget what amy hood said honeywell, it's a new ceo. people understand, i actually do work i know the people who are selling it their kind of -- i don't know what kind of work they do, but here's what it is. they beat earnings per share they had higher segment margins. the revenues were on target. they raised earnings per share one weakest division which is warehouse automation ar arrows cooking on all cylinders. go knock yourself out. go do it i don't care >> it does remind me of earlier in the week, and the drubbing that rtx -- >> but the problem is rtx, you know, the powdered metal, they're pulling things >> we know what the problem is greg hayes was thankfully with us to explain it to us >> but you know, i'm saying, i want these people to sell honeywell. i don't want them in my honeywell. they should hit the road >> it's our fourth day together this week. let's see. >>

. >>> watch out estee lauder citigroup opens a negative catalyst watch on the stock saying it could underperform on earnings shares are up lileita tt b back in a moment helping generate and move the energy that our world needs. ♪ welcome to a new era of energy. >>> welcome back to "squawk on the street." i'm bertha coombs. here's your cnbc news update flash flood warnings and flood watches are in effect today in the northeast. meteorologist say thunderstorms will bring heavy rain to much of new england and northeastern new york comes after new york's hudson valley saw close to 10 inches of rain sunday. state officials say one woman died when she was swept away by flash flooding while trying to evacuate with her family >>> dutch prime minister - >> we in government working with our partners on the ground have to work with our communities to build up resiliency, to be prepared for the worst because the worst continues to happen. >> dutch prime minister ruutu says he will not run for a fifth term in office following the collapse of his government he handed in the resignation of his cabinet friday,

when you care oddity to the 10% growth perspective from estee lauder, a very disappointing stock forcal year. this company is clearly in the league of its own and a group people love. this is not growth at any cost. it is extremely profitable growth. oddity has been returning a profit for years, even if the more should metric. 21.7 millions last year. they are looking at more than 1% earnings growth during that period. the biggest push was in the first quarter with earnings growth between 25 to 50% in the second quarter. the balance sheet is also pristine. oddity had no outstanding date at the end of june mac. it was fourfold last year. are there any more to the story at all? i do tend to get a bit nervous with hot direct to consumer, especially a category like cosmetics or wellness. the growth can disappear in a hurry. that has not happened yet for oddity. their data informed development process has been getting ahead of new trends. i believe it, given the incredible excess of the beauty brands. oddity is a private equity sponsor that the giant l carrot, while i take leah warn you f

you know -- >> can i -- >> the banks are -- >> i want to come to a name that you follow closely estee laudery at barclay's, there is a downgrade. they talk about reinvestment ultimately pressuring median term margins they're also wary of a more muted recovery in china and on the heels, they say, yesterday's disclosure of a cybersecurity incident, which we didn't get to yesterday, they said pause and is expected to continue to cause disruptions to parts of the company. they can't help but worry these issues are broader and more systematic than originally described. >> the ceo thinks it's a hard time one of them is that he did make a big bet on china china's not coming back. it's important he told all the analysts, two-quarter issue, they continue because he's so great. my trust has owned this forever. a lot of money, we sold it high and bought it back is this a j&j situation where a -- well, j&j's going to come back estee lauder comes back but it's going to be two quarters because china is not spending like we thought. and that is vital. i don't want people to give up on fabrizio. i think he'

the targets, the nikes and the estee lauders of the world where we actually see forward momentum therech brings us, you know, to the stock picker's market, and the narrative ofwhat is still relatively beat up and available out there, and on trend as we look forward >> ankur, bob pisani published a piece today that said bullishness is rising and that's not necessarily good, and he points to a bank of america fund manager survey more than 200 global fund managers, 68% expect a soft landing. only 10% say they're underweight u.s. stocks. you get the point that he's sort of making, that once, you know, everybody gets in the pool the pool is a little crowded and it's not necessarily the greatest place to be what's your opinion on that? >> first, everyone has to get in the pool and then we can decide if it's too crowded. so if you look at funds today i do think they're still underweight and some of the big tech names that are moving and working against them in the benchmarks, i don't think everyone is overweight the digital advertising names yet. i don't think they're overweight amazon yet, s

i sold out of estee lauder it's not a good call, by any means. that basically is they just came out with a cyber security issue and i just think they're going to have to invest more and as a result margins and the expansion that i was expecting to see. it's going to be muted it's going to take a longer time i might go back into it in a couple of quarters because i do think that's how long it's going to take to get resolution here i put that money into target because the stock is down 26% from its highs they're doing all the right things in terms of inventories and getting them down substantially and i do think traffic is going to surprise to the upside they have a value proposition and the stock trades at 15 times forward estimates, a 3% plus yield. so i'm in that one >> even though the consumer discretionary categories were weaker and target skews higher there, you have confidential things can turn around >> they're balancing out their mix between the durables and consumables and discretionary. he's been working on changing that i don't know if