estee lauder lost 49% last year because it went all in china so every part of the business fell apart as management kept promising over wise, they overpromised and underdelivered. eviscerated by competition from elf beauty. management would never admit their products are way overpriced. they would say radically inferior -- my wife couldn't tell the difference. i put them in front of her. i told you this story already. we got gapped for the travel trust. we were wrong. we regret the error. and finally, a solar equipment. made some of its equipment in china. th the -- we can expect higher tariffs. i think it's amazing they were only down 48% for the year. hey, there is always 2025. possible winners among the ones i mentioned, but the potentially big winners for the s&p 500 are the same we covered in the nasdaq. the losers, here is the bottom line. need to see the big plan, a change for moderna, china return to industrial selling, change in management and return to growth in china for estee lauder as well as more realistic pricing. i don't know who to do for in face. i don't think they d

are you big on the beauty names with estee lauder. are you strong going into the economy this year?y is not a nice to have, it's a must have. i would encourage anyone who walked in ulta osephora, it looked end of days for both of those on the stores. beauty is here to stay. i know there are a lot of other companies and brands trying to get into the game. again, ulta and sephora are positioned best to continue to keep their market share and gain more. >> tiffany mcghee, your pick is ulta beauty. thanks. >> thanks, frank. >>> here is what to watch today. the latest at ism services and jolts at 10:00 a.m. tom barkin speaks at 8:00 a.m. the dock workers and port operators resume labor talks today. lina khan will join "squawk box" on the first on cnbc interview this morning. it wit be anll be an exit inter. one more look at futures before we let you go. still in the green across the board. the dow would open 40 points higher. that does it for "worldwide exchange." "squawk box" starts right now. >>> good morning. tencent shares tumbling in hong kong trading overnight after the u.s. depart

i like the old ceo, and i love -- [ applause ] >> and by the way, elf and estee lauder are not gettingt merging with ulta. let's not go crazy. >> the opening bell here and the real-time exchange. big board, pursuit, attractions and hospitality companies celebrating a acquisition. the -- >> my wife told me if i don't get it she's going to have to play a new game with me. i mean, the -- she goes, here's my rem sleep. what if you don't sleep? >> i've been dealing with that for years now. my wife doesn't know whether she had a good night's sleep unless she checks her aura readings. >> i know i had a great night of sleep. >> oh, i feel great now. >> anyway, i think it's an interesting situation. it's a well-known company that -- i want that stock. get some stock in aura. >>> hanging on to s&p 6k. we got to 60.20 yesterday. gave some back. >> again, i think there's two markets. there's the health care market, the materials market, the food and beverage market. david, that area is just a wasteland. >> yeah. let's talk about that. since you bring it up. let's bring up -- and snacking. you know

the 2024 acronym, of course, was blicep, ali baba, lyft, idvo, chevron, estee lauder, paypal. the l out, you would be up almost 3%. you would still be in ninth place. >> and there's only eight of us. >> nice job there, by the way. >> which acronym do you have for 2025? >> so this is banned, okay, this is going to be a super group, much like to to or traveling wilburys. this is a dream team. these are companies that are all, i think you're not taking a flyer on a company like lyft or whatnot that might be great. these are all great companies. the question is, are they going to get back to glory? boeing, the cash flow is not going to come in 2025, but if we get a sniff it will come in 2026, it will move higher. a distant second, but when you talk about the pipeline, major catalysts for a company that underperformed their peers in 2024, and that's part of my rationale. i want underperformers and companies that i think, again, a little bit of move higher takes them a lot higher. n is nike, five-year lows. we know a ceo, it's not going to be fixed overnight. i think the valuation i

estee lauder. p&g. merck. china. one company has been the best performer in the last month. rh. gary freedman had to get out of dodge. he recognized that. gary is not being saluted. bought a huge amount of stock. highest end furniture. great stuff. >> a bunch have been moving out of china. williams-sonoma. the question is how fast can you do that? the whole decoupling, is that possible? >> yes. i think if the chinese persist in making every single part of our government is hacked, then i think that president-elect trump is not like other presidents. i think he just puts a gigantic tariff on china and says best of luck. >> we'll see. that is the expectation. speaking of china, we should hit the steel deal. u.s. steel is down sharply. president biden blocking the nippon steel from acquiring the company. the action is my unflinching commitment to use all authorities available to me to defend u.s. national security including by ensuring american companies continue to play a central role in sectors critical for national security. remember, this comes after the committee on treasury d

or estee lauder born in queens to parents from hungary and slovakia. or david geffen born in brooklyn to parents who were from palestine? or american music, without people like frank sinatra, or george judiciary win, the -- george gershwin 12k3w4 1234 all were born here in the united states. some whose immigration status was unclear at the time of birth, and some of whose parents were clearly undocumented. that's the point of birthright citiz citizenship. when america is at its best, the status of our parents doesn't limit our ability to contribute to our community, and that's part of the genius of our nation. i believe birthright citizenship put into our constitution in the 1860's to rectify the sin of slavery and egregious dread scott decision has been a -- dred scott decision has been a blessing to our country. it has inspired a global movement, especially wrong nations in the americas, to guarantee citizenship to all born within their borders. there's slightly more than three dozen nations in the world that guarantee birthright citizenship, predomi