in contrast, estee lauder at the highs of 19%.est day ever since the company ipo's back in 1995. it's the best day since 2019 and they are cutting about 5% of the workforce and one analyst said the quarter that was reported beat but they also have cut the guidance for the a time in a row but this stands out as investors want to change. we look at the shares of stock in an estee lauder and snap over the past couple of years, these companies are in bear markets particular he estee lauder and snap. they are down more than 50%, big declines. sonali: we thank you. coming up, we will talk up -- talking about m.i.t. requiring standardized testing for applicants reversing a recent trend. that's a big story on the wall street beat up next. this is bloomberg. ♪ [busy hospital background sounds] this healthcare network uses crowdstrike to defend against cyber attacks and protect patient information. but what if they didn't? [ominous background sounds] this is what it feels like when cyber criminals breach your network. don't risk the health

. >>> plus, no concealing the gains in estee lauder. shares surging on the back of this morning's earnings report. the changes that are making that has investors jumping in. don't go anywhere. "fast money" is back in two. >> this is "fast money," with melissa lee, right here cc.onnb >>> welcome back to "fast money." boeing finishing down more than a percent after saying improperly driged holes in some of its 737 max fuselages could delay the delivery of 50 aircraft. the faulty holes discovered by spirit arrow systems. phil lebeau has the very latest. >> reporter: we'll find out just the extend of this latest issue over the next couple of days, because they're going to do inspections of these 50 aircraft, determine if rework has to be done, and if there is rework, where the holes were misdrilled, well, then they'll bring them into conformance, and that may delay some deliveries, so, just again, to recap what's happened, over the weekend, a worker at spirit aerosystems in wichita, kansas, said, look, i think a couple of the holes on the f

estee lauder to lay off 5% of its workforce.e are from ups last week going to cut 12,000 positions. when you think about what we're hearing does that give you pause that may be the fed is behind the curve and the data will move in much faster than anticipated? carol: it's important to remember what base we are cutting off of and there's a couple of factors going on. company stocks are clearly getting rewarded by wall street for being precise about their employment and their stock prices overall are tending to be going up with companies announcing they are laying off. there not a scale layoffs, the numbers sound big but when you look at the higher -- hiring these companies. tech companies that hired masses. and consumer goods that hired massively into it out of the recession as consumers changed our rate of consumption and the kind of consumption we did. so the trims you are seeing are actually pretty precise for the way company managements for that attention to detail if you will in terms of cutting in one area and yet still hir

let's do estee lauder. >> yeah, this is a stock that has been so beaten up.as big, and i think you have a lot of short covering there, and they said they will be efficient and cut costs and there's potential there, and it's not a cheap stock. >> doesn't asia have to improve -- >> yeah, the whole story for estee lauder is about -- >> china. >> china and asia as well, and that's why they are cutting 3,000 jobs. >> yeah, there has been specialty retail -- it was strong with this in the report, and that sets up with ulta beauty. >> yeah, we sold that in last may, and the stocks have been cut in half in the last year, and we put the money into l'oreal, and we like that, better diversity of sales. l'oreal has been up 20% when this stock got cut in half. >>> let's get the headlines with bertha coombs. >> a drone attacked a base in syria that housed u.s. troops overnight killing six. allied kurdish fighters, and it's the first attack in the region since the u.s. launched strikes in retaliation against iran-backed militias. no u.s. troops were injured or killed in tha

down six points even the stunning gain, look at the gain of estÉe lauder in the wake of worrisome headlines the makeup giant may be up 12.5% but this one owes. >> , clinique and owns plans to cut 3 - 5% of the 62000 strong workforce and then a loss of the china market share there is the china thing that charles was talking about. even with this afternoon shares suffered mightily over the past year losing about 44% right on the no's, 44% we have tesla a thorn in the side of s&p in the nasdaq the tech heavy index for the nasdaq i keep checking this down seven points they had been in the green for a few seconds but it's getting dragged lower by piper sandler, machete the price target on tesla shares to $225 from $295 in reuters reports german company sap is jettisoning tesla from the list of company car suppliers due to late deliveries and price fluctuations. that spooked the market tesla is down 4% off the lows of the session. investors can still count on nvidia for another new record the a.i. chipmakers soaring to a new high. it's at $688 and change up 4%. this time propelled by goldman's ma

similarly found their footing last quarter, similar estee lauder.ay it's the eve of tim's bicep. >> he's not even watching. >> completely different circumstance. estee lauder one of the all-time winners in terms of compounding and yet it's fallen on hard times. is it an early stage bullish reversal? i like them both. >> and finally tesla and palo alto their forward pe ratios are in the upper 60s, so, mike, what would you rather tesla or palo alto? >> yeah, i'm going is to go with palo alto here which is violating my holly index rule, because i don't throw any stocks she favors into the dustbin. but the situation here is something julie was talking about before which is the palo alto networks is looking at expanding their margins, which i don't think is necessarily true for tesla. we've seen the earliest part of the hockey stick for evs. but i think we're hitting a plateau here because we need infrastructure. so i think they're not going to see good growth as palo alto likely to. >> julie, which one for you? >> i totally agree. in what world would i

we had estee lauder putting out its earnings overnight. those were better-than-expected.tting its workforce slightly from it a restructuring land. investors like these things. and you mentioned the story around l'occitane, blackstone considering a bid for the company. haidi: and we are watching the rba, just 3.5 hours away from the press conference under this new revamped medications regime from the rba. officer shaun lucas when it comes to trading -- off session lows when it comes to trading. big tech is the laggard. the real estate and materials also suffering badly, over 1% apiece down. we saw a bounceback in australian bonds, potentially signaling there are some bond traders that expect possibly at pivot-minded rba, may be that hawkish tone will not be maintained. we will have to wait and see in the next few hours. suddenly a bit of an ability to for the aussie dollar as we had -- a bit of vulnerability there for the aussie dollar. that is to come. that is it for "daybreak: asia." our markets coverage continues. this is bloomberg. ♪ d the right plan for my team. i thi

estee lauder, cvs. >> reporter: she found her true calling about seven years ago, following a careerand customer service. >> then i retired. and reinvented myself as a fashion model. this is a designer from new york. when i retired, i realized that i was being overlooked and underestimated. people had kind of kicked me to the curb. >> reporter: so at age 70, she started dressing snazier. >> a woman in a shop asked me what are your aspirations? i said i'm concerned that women my age are giving up. so she said, well, why don't you come in and do some photos. this is for a local designer. it was a different look, a different idea. it was not the 23-year-old. >> reporter: then the phones started ringing. the modeling gigs pull her between the bay area and that fashion mecca, new york. >> soho is really, really unusual when i'm onset for a shoot to have anybody as a model who is over 40. and certainly not over 70. >> reporter: it's possible the seeds of her personal revolution came from her childhood in the south. >> i grew up in rural north carolina. our family history reads much like bl

that's 3% to 5%. >> estee lauder, my travel trust owns it. it's been terrible.re's a lot of misclassification they went over. i wonder if the s.e.c. is going to take a hard look at that. to go to what they're doing is basically saying, look, there's an inflection point. actually, fabrizio called it an inflection point. when you use that term, you're home free if you have enough credibility to make it work, and i think that estee lauder did. there's so much in there. jeffries thought it was okay. if you look at the stifel note, they're positive on it. and i think that in the end -- what's the matter? >> it's like -- >> this is my crib note. >> it's like a crazy man's -- look at this. this is what he's working off of. you knew this is what it looked lik like, didn't you? i know. >> that's called rigor, david. >> help me, i've been taken prisoner. >> no, no, it says, "didn't cut the margin outlook." and that's what did it. didn't cut the margin outlook. and then, i combined that with, "we are currently at an inflection point." i use brown for when it's really impor

competitors for example like estee lauder which announced last week 3000 job cuts.so a bit of resilience, strength, weakness coming through in the chinese demand, so strength in europe and the u.s.. we talked to the luxury analysts at bloomberg and others who talk about a divergent picture when it comes to luxury retail. lms is reporting later. are they more resilient than their counterparts when it comes to that china demand story? >> hermes is like an outsider. the report you mentioned in 15 minutes from that. they are the ultimate -- the ultraluxury. when the aspirational consumer has to get some spending, the chinese consumer has to get some spending on cheaper luxury products, they actually still want to spend on this one luxury piece that actually conveys status. that is usually hermes. according to barclays. hermes has become the second most desirable brand after chanel. really they have mastered scarcity, exclusive video. is really exclusive. it is really an outsider in the sector. tom: the outlier when it comes to a positive outlook for hermes . bloomberg's

estÉe lauder up again. >> they own makeup which is phi 20.lashed their annual profit and they announce major restructuring and that includes cutting 3 - 5% of the global workforce up to 3000 jobs, the stock reaction to that is incredible. stuart: job layoffs, job cuts, the stock goes up, you see this a lot on wall street. >> not all the time, take a look at snap, the cutting jobs, 10% or 500 workers the stock is moving down to intuniv two in a quarter percent. they're trying to promote in person collaboration if you're working from home and don't want to commit, good luck. stuart: take a look at the op-ed from the wall street journal editorial board, climate tears are coming for your tires, they said lawmakers in washington state want to regulate the tires allowed on your truck or car. jason rantz, what is the connection between tires or climate change. >> they say some of the tires are too heavy and too thick and the car will exert more energy and carbon emissions into the environment and yet we have to do something about that. especially wh

>> estee lauder. this one is down and out, but last quarter was an inflection point. in asia. i like their product profiles, andest mates are very conservative. >> it's had a nice move over the last few months after some serious questions. >> absolutely. it's still down 48% from its high. >> china has been a problem. great stuff, everybody. i'll see you all on "closing bell." "the exchange" is right now. ♪ ♪ >>> thank you very much, scott. welcome to "the exchange." i'm dominic chu in for kelly evans this afternoon. here's what is ahead on the show. great for companies and households, but not strong enough to ignite inflationary pressures. so are we setting up for a goldilocks growth period? our economist thinks so. she's here to make her case. >>> plus, here we go again. the countdown to a partial government shutdown is on. the biggest holdup this time, it's just that. it's time says our next guest. there's just not enough of it to get a deal done. he walked us through it and what would shut down

estÉe lauder. >> cutting jobs up to 3000 and up they go.. nvidia, there you go 687, $26 higher. as semi conductor. netflix up $10. we got get the story. $5.75. nikki haley made a surprise caveat on "saturday night live" where she asked trump questions. rowley. >> my question why won't you debate nikki haley. >> of my god it's her the woman into in charge of security on january 6, at nancy pelosi. >> are you doing okay you might need a mental compensated test. >> she also made fun of her civil war gas as well. hdtv flipping one-on-one host says house flipping is getting stronger. really please on the show to make his case. i'm not sure i get to that. biden administration set aside the 6 billion to expand internet access, steve moore says they're trying to fix something that isn't broke, he's here to sound off and he will next. ♪ there are some things that work better together. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. so you can feel confident in your financi

can we just -- estee lauder.late it's awful in china and, by the way, there is a man running for president and we don't talk about him much because we don't talk politics that the tariffs that president -- former president trump would put on china would make it so that you would have to have catastrophic of their -- >> not our own? >> ohio we would be hurt? >> the supply chains are very intertwined. it would hurt. >> we are still deeply intertwined. >> you can't move things from malaysia or vietnam -- i remember when i did -- first started my show 2005, he would come on and savage at chinese and i don't think he's changed at all, nothing. although it's not clear that he understands the taiwan relationship, what taiwan semi could do. he just thinks taiwan semi has betrayed the united states this what i believe he thinks taking a lot of our semiconductor. taiwan is a tenth of the cost to make things because they have a lot of engineer, so it was amd and nvidia did not betray the united states by making their high-e

estee lauder moving up, but sending some people out for good. that story ahead. first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com >>> all right. welcome back to "the exchange." a big move in mortgage rates this morning and more on rents. let's find out what's happening in housing and go straight to diana olick over the magic of television waves, diana. >> that's right. the average rate of the 30-year fixed crossed back over to 7% to 7.48% according to mortgage news daly and thanks to a surge in bond yields and it made the biggest jump on friday after the labor department reported a much higher employment number than expected and the ism came in higher than expected this morning and the fed has kind of made it pretty clear that we do not expect a rate cut in march. so the 30-year rate hike hit a 30-year high last october and fell sh

so i've been really lucky to have worked for lots of big-name companies, estee lauder, cvs. >> reporterund her true calling about seven years ago, following a career in corporate marketing and customer service. >> then i retired and reinvented myself as a fashion model. this is a designer from new york. when i retired, i realized that i was being overlooked and underestimated. people had kicked me to the curb. >> reporter: so at age 70, she made it a goal to start dressing snazier. >> one day i was in a shop and a woman said, what are your aspirations? i said, well, i'm really concerned that women my age are just kind of giving up. this shot was primarily about the earrings. she said, well, why don't you come on in and do some photos with us. this is for one of the local designers. it was a different look, a different idea. it was not the 23-year-old. >> reporter: then the phones started ringing. >> this is a designer tiby. >> reporter: the modeling gigs pull her between the bay area and that fashion mecca, new york. >> soho. it's really unusual when i'm onset for a shoot to have anyone

here's estee lauder's cfo t sharing her story. >> in environments where not many people look like youallenged to prove yourself. so you need to always invest the time to be well prepared. being a constant learner is what i've loved throughout my life. my incredible mother taught me to always treat others the way you would want to be treated. and pay it forward, which has influenced my mentorship and sponsorship of mothers throughout my career. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. in the u.s. we see millions of cyber threats each year. that rate is increasing as more and more businesses move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the back

we see an estee lauder, it come to life, big downtrend and one day it can come to life. surely came to life. the timing is very hard and sometimes you get it very close to the bottom, sometimes you are early, which is wrong, and it goes lower. at some point, we know that pfizer, to your point, at least, i think that's the didn't make, will finally stop going down. and so, the idea is when you are speculating something's in a downtrend, if you want to break the rules and do something that's usually bad technique, do it small. >> okay. >> up next, final trades. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com hey you, with

when you compare that with the higher end luxury brands like estee lauder or some of the brands underneathmbrella, you guys have done better. what does that tell you right now about the consumer in an atmosphere where we are not in a recession, but they almost look like they're waiting for it and they're trying to get frugal before it happens? if. >> well, you know, our mission is make the best of beauty accessible to every eye, lip, face and skin concern. and a key part ofs that is our value proposition. and we definitely see from a consumer standpoint this ability of having or getting access to prestige quality at a fraction of the price really resonates with them, and it certainly is driving our results. liz: well, what you've done is you've gone absolutely nuts on social media and doing this dupe culture, coming up with products that are very similar to what has gone absolutely incredibly vile like the dior lip oil. that, of course, is very expensive. i believe it's around $40 whereas your lip oil is way less expensive, and you're almost duping it. it has the term lip and oil in it, di

a slowdown in sales for estee lauder resulted in multiple estimate cuts and buildings in market cap lossetition and a weaker chinese consumer. its way off its highs. gator had a begins in three overhang in china that is just now being worked off. wendy's saw slowing sales, one of the few weak spots for industrial gassing the entire globe. dupont's cut entirely in china, which helped cause one of the worst pronouncements of the year. nvidia has a ton of business in china but the doors could be over because of export restrictions imposed by the government because we don't trust china to give the nvidia cards to the military, because that's what they were going to do. weasels and procter & gamble today to right size position. why? china. it is a never-ending source of pain for companies. what's china's government's response right now? simple, manipulate the stock market how to get rid of the ugly stain of 2015, 2016, when china had a bear market. they made it very difficult to sell by actually hammering the sellers. say they follow the same playbook, it's a short-term banning that long-term

. >> tim, what's the top of your list >> estee lauder. that as beauty reports, and it's not as pretty as karen's ulta, it's probably the ugliest duck ling in the group and a lot of this is about china, inventory, de-stocking. i don't know that the numbers are going to be great and there's a concern they could guide lower. the story is a second half recovery story it is so unloved here. our acronym game, i'm playing with the house's money i think on an earnings multiple this thing is going to cheapen up. >> karen, macro-ish question, do you feel as though the earnings season is shaping up in a way that is constructive for that hypothetical bull narrative to continue >> i would like to see more retail, i would like to see a little more on the consumer. we had mixed things. we saw capital one, which wasn't bad. discover, a little worse so that's sort of what i'm watching i'm optimistic and i can't help to think if the market is colored by some of these gigantic earnings. >> options traders think one payment stock reporting next week could be

personal care giant estee lauder, aveda, clinique and others, it's going to cut 3 to 5% of its workforcech. folks, that does it for us today. we'll see you right back here tomorrow. right now, though, it's time for "squawk on the street." ♪ >>> good monday morning, welcome to "squawk on the street," i'm carl quintanilla with jim cramer and david faber at pos

people like marriott what's incredible is that estee lauder lost a lot of share they might deny this,o elf. they called a bottom in china, mostly because of hong kong. e.l.f. was -- look, you want to sell e.l.f., that's fine the stock has run. number one in target, by the way, one of the greatest performers of all time, by the way, e.l.f >> new york community bank corp., not doing well. it turned around it was up. they got a moody's downgrade great. long-term issuer, ba-2 now. they had a conference call they continue to reassure on, obviously, deposit stability >> right >> but you know, they're just coming after it, jim that's really what it's about here $83 billion, up from year-end in total deposits, total insured collateralized deposits 72%. total uninsured, excluding collateralized, up $22.9 billion. over $10 billion of reciprocal deposit capacity and on from there. the question's been asked. they continue to describe as fine or stable their deposit base and yet, we just have this pummelling of the stock price, which, at least you can say, you know, we got to follow this more clos

. >> that's a great question and i would tell you, if i were working at estee lauder or nike, if i wereorking at starbucks, these have similar problems, and that is that the consumer in china is experiencing a once in a post-mao lifetime lack of capital to buy things. >> yep, yep. >> that's what's happening apple customer satisfaction is very high. >> it is very high and still the leader in terms of market share. that said, huawei has a more competitive product on the market you do have these government crackdowns that we hear about in terms of government employees being able to own apple iphones. >> we know of the largest cities that apple's still the 4 of the 6 in terms of payment. look, these are -- it's so hard, carl, so hard even for a moment to understand that the chinese may not have enough money to buy apple or that they may not have enough money to buy a triple cappuccino if we had lalaxman narasimhan he would say, there are people selling cheaper coffee it's everything from apple to cars everybody who has an apartment feels like their apartment goes down they have a -- they ha

some of the examples that you are seeing from corporate america, cuts from estee lauder yesterday and on friday. it has been example after example of companies not hiring but firing. jonathan: you see this in the tech space as well. i was reading about this yesterday talking about under the labor market how much is seasonal and how much is reallocating to other areas. erases the question about the headline numbers. jonathan: yields are basically unchanged after recording their biggest to -- biggest two day in months. trains are no more in line with our view of 75 basis points of cuts this year. more value along the curve then when fed futures called for upwards of six rate cuts. i'm pleased to say we are joined for more. deborah, the march meeting. a lot of people are pouring cold water over it, but this could be interesting. i know you are interested there will be a big conversation about the balance sheet and may be winding down qt? >> i think that there will be more details on how the qt process goes forward for the rest of 2024 into 2020 five. i think that will be the focus of the