frank holland is in murray, kentucky for us. >> reporter: u.s. has more than doubled since congress legalize ds the crop last december. as much as $32 wondering of cannabidiol or cbd could be sourced from this farm in kentucky and others arntd around the country. >> we are growing, harsts, extracting the cbd and put going into brands. >> smoke is let ceo of vertical wellness focused on cbd products manufactured from industrial hemp. vertical wellness aba subsidiary of vertical companies and u.s. based cannabis producer. launched other companies trade in accurate canada. however analysts say the first company trading in the u.s. will benefit from increased visibility. greater investment and more access to capitol. wallin says that's the motivation but unlike higher profile ipos he says the company is already profitable. vertrtal wellness expects to generate $28 million in revenue this year and see the number more than triple in 2020. by selling 75% of the hemp and using5% in its own brands of cbd products. >> right away we are seeing a profitable

i'm frank holland at cnbc headquarters. here are today's top business headli headlines. wall street is set to open in the green as high level negotiators from the u.s. and china resume trade talks in washington tad. president trump told reporters the first day of talks on thursday were going "really well" and tweeted he'd meet with the chinese premier at the white house today, that increased hopes among investors both sides can reach agreement. if no progress is made this week, u.s. tariffs on chinese imports are said to increase early next week. >>> import prices for september will be released before the opening bell. later in the session, investors will keep an eye on october's consumer sentiment figures. in an effort to jump start stalled talks the ceo met with gary jones on wednesday, the first barra attended with union leaders. all production at gm factories, wall street analysts estimate gm is losing roughly $50 million to $100 million per day in lost production. workers survive on about $250 a week. >>> it's official, social security checks are going to get a boos

frank holland has more. >> marshal borro maker altria is increasing prices on combustible cigarettes.ny says packs cost 8 cents more, toki% increase effect next weeks according to wells fargo and the third price thnz this year. is as the t momentum towards vaping appears to be slowing over increasing health concerns. thcdc are elsing new da data showing vaping deaths increased to 3and lung injuries increased to 1re00. cie sales have been on steady decline in recent years but aerktdd to wells fargo analyst other companies are expectseto hike prices a well. she writes, we expect tobacco stocks will react favorably though this lis price increas ie nc affirms the industry's continued strong pricing power. icing will remain a critical growth.of revenue and earnings ia shares down 10% year to date. one drag on the stock, altria juul.5ake in e-cigarette maker for nightly business report, frank holland. >>> mixed results f honeywell ere we bin the market foc tonight with the conglomerate reporting better than expecteds profhanks to strong results fromou aviation know. but falling short on rev

and by the way, some rough weather not helping things either frank holland joining us from east molineillinois. good morning, frank. >> reporter: good morning, brian. >>> farm machinery shipments total 22 billion, bill number, but that's an 18% decline from 2014 and major manufacturers like the iconic john deere are feeling the impact deere says it's agriculture division is down 6% and announced layoffs here at the factory where it makes farm equipment. cat pillar saying those sales are down for the first half of the year now wet weather here in the midwest, flooding and rain a big factor also the on going trade war. we've been talking to farmers here in the quad cities like phil four, a six generation farmer whose cash crop is soy beans and he owns 20 pieces of deere equipment, he says he's holding back on buying or financing any new equipment this season >> i'm just trying to take a wait and see attitude, maintain the old equipment and then if times improve we'll roll in to some newer tractors or combines. >> we've backed off on any capital purchases of anything very high dollar we'l

frank holland. try the creepers, frank.s another story now, to sue herera sue. >> can't wait to hear that one thanks, kelly. here's what's happening at this hour, everyone a turkish-backed syrian opposition group says it has pushed back in attack by the kurdish-led syrian democratic forces in the countryside north of of aleppo the sdf still controls a thin sliver of land north of aleppo the taliban claiming responsibility for a suicide attack in eastern afghanistan which killed five people, including a child. a convoy carrying officials from the country's intelligence service was targeted 21 people were wounded >>> hawaii congress woman tulsi gabbard says she will not seek re-election in order to focus on her campaign for the democratic presidential nomination. gabbard got into a war of words last week with hilary clinton. clinton suggested republicans were grooming a democrat for a third party candidacy and believes the candidate is the favorite of the russians >>> and dentists should not prescribe antibiotics for most too

i'm frank holland. here are today's top business headlines.set to open on news a draft brexit deal. this is a crucial two-day summit in brussels today. prior to the reports futures have been trading flat to lower. on today's watch list back here in the u.s. jobless claims and housing starts data before the opening bell. china releases its gdp report later on tonight. under armour and virgin ga lack continue unveiled space substitutes for the first to wear on their flights out to the edge of space. it will include national flags. the suits will provide cushioning at the elbows, knees and feet for some extra safety in the zero gravity conditions and the fabric is designed to contain body temperature. commercial flights for those anticipated to start next year at $250,000 per ticket. >>> speaking of the bay, the creators of wall street drama are turning to silicon valley with uber for showtime. it will be based on reporter mike isaac's book. the rise of the transportation and tech company including travis kalanick when major shareholders demanded

. >>> good morning i'm frank holland at cnbc headquarters.nvestors gear up for a day of high level trade talks between the u.s. and china. futures took a hit wednesday night after the south china morning post reported both countries made no progress and deputy level trade talks. they said higher level trade talks would last one day instead of two. futures recovered some losses after the white house told cnbc that report was inaccurate. >>> a setback that could cool the trade tensions. the u.s. government is planning to issue licenses to american companies to sell nonsensitive goods to huawei. washington had black listed huawei in may citing concerns preventing them from buying parts and tech from u.s. firms without first seeking approval from the u.s. government. bed, bath and beyond, the appointment comes one week after they announced it was shuttering 60 stores by the end of 2019. much more than the 40 locations it had previously estimated. scott and laura, back over to you. >>> coming up next on "today in the bay," developments in washingt

franke holland where we begin with dedra bosa in san francisco with ibm earnings. >> melissa, anotherher decline in revenue, the fifth in a row for big blue. speaking volume foss ibm the company trying to turn around under ginny rometty investigative and next two vechg they were urge iffing signs, the first quarter since the red hat deal, the largest acquisition ever and represents the big bet on hybrid cloud. ibm said red hat post-ed 20% roo rice in revenue as a stand alone. it's benefitting from the scope and scale of ibm now investors of course will want more evidence in the quarters ahead the q and a session just kicking off. but i-thinking we're going to hear lots of questions about how this deal is going and another bright spot was cloud revenue growth, grew 11% from a a% growth rate last quarter. a healthy improvement but trailing growth rates at microsoft and amazon so what went wrong this quarter? it's legacy business weak performance in global technology services. that's its business. providing i i.t. services to other companies. dragged down overall revenue shares a big blu

i'm frank holland, those are your cnbc business headlines. back over to you. >> have a good friday, frank. >>> let's take you back to los angeles, we're monitoring the firds, th fires, this is the saddleridge fire and it is a catastrophe, pushed by the santa ana winds, granada hills and the san fernando valley burn, porto ranch, sylmar. this coming from our sister station in los angeles. >> look as it widens out the swathe of fire that's burning there, 4,600 acres and close to interstate 5 just south of the grapevine, now close toed down. so we'll continue to monitor that. we've been hearing from evacuee this is morning, people don't have enough time to leave their homes. frightening. >> the grapevine is okay and down to magic mountain, looking south of newhall before the split with the 405 freeway. if you're on i-5, you have to use highway 101 to get past that scene. >> we'll continue to watch that for you all morning long. the winds are fueling those flames that we had such concern here in the bay area over our winds but they're dying down.

i'm frank holland at cnbc headquarters. here are the business headlines. markets are set to open up much higher on a report that china is open to agreeing to a partial trade deal with the u.s. on today's watch list a report on wholesale trade and the fed will release the minutes from its september meeting. >>> facebook is taking its portal video chat gadgets in to the business world. the social media giant is trying to take a bigger slice of the video conferencing market. resume, cisco, webex and skype are now the leaders. facebook announcing that workplace its communication and collaboration service for companies will work with its portal devices which have so far been marketed for consumers. people who own a portal and use workplace in the office are able to combine the two to make video calls to their colleagues. >>> twitter inadvertently used user email addresses and phone numbers to enable targeted ads. the information provided by users for account security. in a statement twitter apologized for the error but could not say with certainty how many peop

frank holland has kmore. >> reporter: this whistle-blower lawsui claims that juul knowingly sold 1 millionlier this year. accuseding the ceo of putting profit over the health and saerty of cust now according to the lawsuit when the whistle-blower voived concerns potentially unsafe pods, burns said to m. >> half ourustomers are drunk and vaping likehomofo the blanc knows the quality of the pods. th lawsuit was brought by t senior former vice president of finance claims he was terminated in march for confronting managent. the lawsuit claims the contamination was a direct result of juul trying to make up up for revenue lott by removing flavored pods from stores and maintain the company's valuation. in november of last jearl announced it would only sell flavored pods online and in response to teen vaping concerns lawsuit juulinted mint pods ase menthol to avoid classifying them as a flavor and pressured a supplier to increase production of manipulate allegedly leading to the contamination. the lawsuit also alleged mr. bradshaw was instructed to contaminated pods while some still sold to the co

frank holland has more on pepsi's quarter. > strong consumer demand leading to high are than expectedt for pepsi. gator aid and the introduction of gaiter aid zero some of the best performers's seems exceeded expectation for theeverage and snack maker >> what we sees is a consumer that likes our products andt buying them increasing rate. as far as we can tell, the consumer is actually actoing ju fine right now. >> the compa gets roughly a third of profits from north american sales ofpepsi, garrett aid and other befrpgsas incg 3%. biggest gains fromck. tato chips and doritos dividion stow growing 5%. sales in aas increg by 5% as well. despite the dramatic drop in consumer confidence lastonth o hew johnson says people continue to spend on pep sflie space in thearket both in terms of the aisles as well ase the perimf the store as well where the sales happen because our products are s impulse. i think what's happening more than anything is the increased advertisinrt that we have is causing consumers to shop usmo re aggressively. and our customers are rewarding us. >> after the performance

i'm frank holland at cnbc headquarters. here are today's top business headlines. wall street is set to open up slightly higher this morning, even after weaker than expected gdp data out of china. the world's second largest economy grew 6% from a year ago, china's weakest pace of expansion in nearly three decades. the data offset otherwise positive market moves after the uk and european union struck a brexit deal thursday. lawmakers still need to approve the deal when they vote in a special session of parliament saturday. >>> on tap in the u.s., american express and coke coloo report their earnings before the opening bell. >>> juul is immediately suspending all fruity flavored ecigarette sales in the u.s., while the trump administration is readying a ban on flavored ecigarett ecigarettesed aamid a teen vaping epidemic. the centers for disease control say at least 33 people died from a vapele related lung disease. nearly 1500 more are sick. juul will continue selling its mint, menthol and tobacco flavors. >>> ford is teaming up with avolkswagen and amazon.com to pro

here in east moline, illinois, frank holland, "nightly businesi report." >>> meanwhile, americans slowed theiei pace of borrowing slighty in august. according to the federal reserve, credit card debt actually fell but auto and student loans saw their biggest jump in three years. economists, of course, are watching the consumer for any signs that households may be pulling back on that you aeir s. >>> and the health of the consumer is key to the housing market. but a funny thing is happening. a new survey shows consumer confidence in housing is weakening just as homes are becoming more affordable. diana olick explains the disconnect. >> reporter: lower mortgage rates are making home buying more affordable, but concerns about personal financing are eating into overall confidence in housing. consumer sentiment in housing fell in september from its august high according to a monthly survey from fannie mae. why? well, because more americans said they are concerned about losing their jobs. that was the secondastraight month that componentf this rvey rose. this as mortgage rates now sit at the l

with me now, frank holland joins me what are we going to be talking about?> something people in the office will be talking about do you watch "breaking bad"? >> i binged the whole thing. >> i've never seen it. the sequel will pick up right where the series let off following his escape from captivity. it will have a limited release and not be eligible for oscar designation. they changed the rules this year >> people who control the oscars have a vested interest of seeing movie studios win because it makes more money let me tell you about "breaking bad. i have never seen character development. there were a lot of people when you look at that story line, the way netflix is taking what was binge watching at its finest and turning it into a netflix event, i think it is really telling in what is coming in streaming wars. >> the closest i got to watch was "malcolm in the middle" the other question, is fortnite as addictive as cocaine some parents think so. a lawsuit that two parents say this is addictive as cocaine saying the makers of fortnite use the same tactics

frank holland is here to talk about it >> we are going to start off with an all-women marvel movie briarsson confirms she alongside her costars have talked about making an all women marvel mash up movie no firm plans have been made to green light this project they have announced other female-led movies. they are discussing a black widow movie starring scarlett johansson. >> i love it you are chunking it. i love it. >> speaking of this, a lot of people are enjoying this so many people really love it. instagram going dark the latest update unveiling the feature changing the interface to display a solid black background making it easier to see the screen in low light light environments it is a dark screen. doesn't make a difference. >> the new iphone software, you can use a dark mode which preserves battery life >> android phones too. >> up next, trade ding wars. your morning rbi our twitter question should companies ban their top execs. not all employees. from twiner? ban them two minutes still to vote. we'll give you the answer, how you answered, when we come back. no not everything, i

frank holland joins us what should we be talking about?> talking about social media news mark zuckerberg is fighting back against claims that facebook needs to monitor and censor speech arguing that the company was founded to both give people a voice and connect those with different perspectives also citing the lack of presence in china and also touching on ti tictoc >> there at georgetown, students were asked not to ask questions. >> i guess not there some space news. spacex has launched construction of three next generation rockets. drone videos show bands ready for assembly ready to launch cargo and people to the moon and mars they are designed to be reusable and operate more like a plane. building three at the same time. one in texas and two more in florida. >> elon musk can certainly capture our imaginations >> one of the latest reports says the target is to build a sustainable city on mars >> possible. i see it in the movie. >> speaking of millennials making more than $1 million. an even money bet on where you live 44% live in the sa

frank holland has it for us. >> pretty much flat right now.rose after the earnings release was announced, coming back down to flat after reporting a beat on the top and bottom line. eps 7 cents above estimates. most profitable segment is merchandise, shipment of automotives and chemicals. csx has growth in that segment, intermodal container shipment and coal shipments coal business has been hurt by decline as natural gas has become cheaper the company reporting a natural efficiency metric, operating ratio. csx shares flat now after rising immediately after their earnings release. back over to you. >> frank, thanks very much george, what do you make of all these earnings reports >> with regards to csx, it's impressive that the company is able to continue squeezing more earnings, more efficiency out of their operations even though we're in a rough environment right now. not really rough but challenging environment for railroads and freight in general we've seen a 5% year over decline, total intermodal volume for the railroad industry. if you're

maker but as negative headlines persist and the death toll linked to vaping keeps rising, and frank hollandhe story. >> good afternoon. >>> you know, a lot of headlines about juul, but its valuation is still $38 billion. a 35% stake, price shares in the private market, $250 but as the regulatory scrutiny increases, following at least 25 deaths linked to vaping, it's not clear if that sky high valuation can hold up. hedge fund desan valuing close to $24 billion sources say the values on the secondary could be pricing shares around $225, or $230. but you have to remember, this is still a tremendous growth story. juul only launched in july 2017 as a spin-off of labs and now has roughly 72% of e-cigarette markets. the bloomberg report kriecitinga person briefed on the numbers says juul expects revenues of $25 billion. state bans and health concerns could hit those revenue numbers. these a well capitalized company but unlike its euaou unicorn, j does have investors including fidelity and others tiger global and predoxic vendors >>> as vaping remains unclear and regulatory looms, cannabis compani

." >> up now, frank holland joins us for liquid lunch.e'll move from one form of intoxicant to another. wait until you see how he kes ma them, though the pod man will be with us. heading into retirement you want to follow your passions rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠ >>> as beer sales decline, brewers are seeking new revenue streams. inbev and dr. pepper cougand keg are teaming up that makes a cocktail instead of a cup of coffee >> we're demonstrating right now. it actually just poored the drink. we're going to let you sample it but here's the point americans drink more than 6 billion gallons of beer in 2018, but that consumption is declining. budweiser make ab inbev seeing its own beer volume fall since 2016 the

back to you. >> thank you, frank holland. let's send it over to mike santoli for a second dashboard mike >> calling this passive aggressive the market over the past couple of months has been in both modes for a while. the chart of the s&p 500 to put the current moves in a bit of context here we slouched back pretty much into the range that had trap this had market for all of august another 2% or 3% below current levels before we get to the bottom of that august range. really, it seems as if it's not quite a successful rebound attempt to the highs, has rolled over we have not yet gone back to where we were really five or six weeks ago. that's one way to put it, in context. stock/bond relationship has been key. only when stock prices have been going up along with bond yields. this is a relationship s&p 500, blue the total bond market etf this line is going up, stocks are outperforming bonds. when it's going down, obviously, the other way around here, it shows you it's not sort of all the way back there again in august. right ba

. >>> good morning, i'm frank holland at cnbc headquarters. today's top business headlines. wall street is set to open up in the red as investors gear up for a day of high level talks. both countries made no progress in deputy level trade talks. the report said higher level talks would last just one day instead of two. futures recovered some of the losses after the white house said the report was inaccurate. a setback that could cool off tensions, the white house planning to issue licenses to american companies to sell nonsensitive goods to huawei. approving these licenses in a meeting last week. washington had black listed huawei in may. bed, bath and beyond has a new president and ceo tapping former target executive trenton to lead the company starting november 4th. his appointment comes a week after they announced they were closing 60 stores by the end of 2019. more than the 40 locations previously planned. scott and laura, back over to you. >> thanks, frank. >>> a live look across the bay area for you. we are in a micro climate weather alert. >>> a red flag warning in ef

frank holland covering pepsi and consolation earnings phil lebeau has more and julia, let's start you and before we get to netflix, we have to talk about some big and to me, surprising news out of facebook that it seems copying yet another snap chat's main features >> that's right. facebook announcing a new app. it's called threatened by instagram and this new app is designed to have, make it easier for people to message their close friends. from instagram to share photos, videos, et cetera. it's really camera first similar to snap. the idea you look at snap's success is the idea that people have their close friends there and they communicate frequently on a dale by basis not with a bunch of their friends, but really with their close network of friends so remember that instagram has about half a billion daily active users,ing so we've seen snap shares fall dramatically. facebook shares are up about 2.5% on this news. of course the question is whether or not this will eat into snap's numbers. >> and especially for them to do this at a time they're under such scrutiny is fascinating. i

frank holland joins us with more shoo thanks taking a turn for altria, shares falling now about a percentnvestment by $4.5 billion more than a third of the $13 billion investment it made less than a year ago for 35% stake of the e-cigarette maker. on the altria earnings call that wrapped up the ceo saying the company still believes in juul's long term potential but there are clear near term regulatory headwinds. >> certainly the possibility that the e vapor category could see its growth rate significantly slowed down or even see the category contract, we've also revised our estimates of juul's international business due to recent market developments. >> altria maintained its eps guidance for this year but lowered the top and bottom range of the eps guidance through 2022 juul certainly a factor but so are cigarette sales. marlboro and other brands say sales fell by 7% this quarter, greater than the industry average of decline altria has raised prices three times this year to offset some of those declines. altria is continuing its rollout of icos, sales in richmond virginia will begin next

valuation just last year but pressure from health officials continues to cut that number down frank holland joins us with more. >> despite recent health concerns and regulatory headwinds, vaping is projected to be a $9 billion industry by the end of 2019. juul with 72% of the market and generating $4.6 billion over the past year will face its biggest potential risk coming up in may. juul must submit to the fda an application in order to remain on the market. as part of that application they have to provide scientific data to demonstrate that marketing the new tobacco product is appropriate for the protection of public health they'll also have to supply information on how the product will impact existing smokers and nonsmokers juul can continue to sell during that fda review but it's coming after the deaths of at least 25 people linked to vaping. according to the cdc, teen vaping grew from just over 20% last year to more than 27% this year these concerns are causing the legal and even the marketing landscape to shift dramatically. the trump administration planning to propose a ban on most e-

come back, join peter from now on forget the corn maze we have a news alert on juul let's get to frank holland >> juul announcing it will suspend all sales of most favored products with the exception of mint, menthol and tobacco, releasing this statement saying we continue to review our policies and practices in advance of the fda's flavor guidance. we're refrain iing from lobbyin the administration and its draft flavor guidance and will fully comply with the final policy juul gets about 80% of its revenue from flavored products according to the hemt and human services, about two-thirds of high school students say the fruit flavors are their favorite the company telling angelica from cnbc.com that under the new ceo, juul is conducting a review of the company's practices and poll is sies and as part of that process, the company decided to suspend all broadcast, print and digital advertising. they'll stop the efforts with administration say iing that the fda's premarket approval process is the best way to assess if vaping product ks help smokers stop using traditional cigarettes they have to sub

the cdc and fda are still investigating the causes of this >> thank you very much frank holland. >>> apple, one of the bright spots on a down day for the market this despite their weaker than expected iphone sales and despite now numbers out of china showing huawei smart phone sales jumped 66% while iphone slid 28%. this may not be as big a deal as before because apple focusing more on iphone services and wearables jumped 50% does this mark a turning point for the company? joining us now, roger chang, extive editor of cnet. is this company turning into something more than an iphone company? >> it's still kind of a wait and see right now. i don't think we're, the iphone is still going to be the major moneymaker for this company for a while but they definitely talked enough about becoming a services company that people are starting to buy into the hype and clear ly put ago lot of mone into it. when you look at the numbers, apple tv plus, those are still big question marks icloud, apple music, the app store, they are huge generators of profit for them and ultima ultimately, that's what

a stock that you've talked about on numero occasions i think you own it too our frank holland was reportingelectric mna guru to its board of directors. >> i don't still own it. i own fedex, which is now working out. and actually had, you know -- >> so you don't own it anymore >> i don't own it. >> i own the stock and what happened was you had a negative ror report on it from a hedge fund guy and basically the company stopped doing m and a. they improved their cash flow. they showed the statements were actually accurate and now i think they're going forward with their strategy so it is an acquisition machine. so les a t's see what happens. >> let's do final trades should we? joe, you're up first. >> going back to the housing team and the retail sales report, home furnishings, the home component, very strong 1.6. utilized masco is a way to play that second derivatirif derivat. >> sirat. >> bank of america i've owned this for a while. stock's finally broken 30. i think it will go higher from there. >> bank of america what do you think of bank earning so far >> they've been better than expected

. >> thank you all frank holland.ng up, construction has yet to catch up as cost rise foabitis at with low supply and afrdily major problem for potential buyers housing health check next. for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally discovered in jellyfish, prevagen has been shown in clinical trials to improve short-term memory. prevagen. healthier brain. better life. it's how we care for our cancer patients- like job. when he was diagnosed with cancer, his team at ctca created a personalized care plan to treat his cancer and side effects. so job could continue to work and stay strong for his family. this is how we inspire hope. this is how we heal. we love you, daddy. good night. i love you guys. cancer treatment centers of america. appointments available now. cancer treatment centers of america. servicenow put our this changes everything. you're right sir... everything. no not everything, i mea

getting to frank holland >> shares of inbev fallen sharply. key markities like brazil.factor the other side, the company plans to offer hard seltzer and considering brewing corona outside of mexico. down nearly 10% after weak guidance >> thank you time for our etf spotlight racing losses. shrugging off the disclosure on pace for the third positive take for four. dow components up 7% looking at the major holdings. nvidia and more. you do want to miss bob swan from intel >>> when we come back, mark zuckerberg taking the stage with the news corp ceo. talkinabg out their new partnership when squawk comes right back ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >> here is your cnbc news update a new criminal investigation is under way in washington. the justice department probe into the russian inquiry is shifting durham is handling his own investigation. >>> eu ambassadors have agreed in principal to the questirequeo extend the deadline but have yet to agree on the length of the delay. >> we have agreed to the principal of the extension that work will continue, the intention is to take this

uncertainty continues to take a toll on both companies sales frank holland is live in illinois he's gotood morning. farm equipment sales are $22 billion so far this year big number but still an 18% decline from 2014. major manufacturers like john deere are feeling the impact deere saying its agriculture division is down 6%. it's also laying off workers where it makes that farm equipment. caterpillar saying sales of tractors and combines, those sales are down for the first half of the year random flooding in the midwest delaying the harvest as well as the ongoing trade war reducing crop exports have farmers like phil, who is a soy bean farmer and who also owns 20 pieces of deere equipment holding off on buying anything new this season. >> i'm just trying to take a wait and see attitude. maintain the old equipment and then if times improve we'll roll into this smusome newer tractorr combines. >> deere is the lead are employer here providing about 4% of jobs. locals say any downturns or layoffs are concerning but they're not sure it has a big a. impact on the overall area. >> i believe the

frank holland has more an that for us >> good afternoon, contessa. puma, we entered the u.s.ar by offering this line of shoes, a prestige brand in footwear hoping to boost its sales, and now it's caught in the global trade war, facing 50% tariffs on products it else here in the u.s. that are sourced in china right now, that's 20% of sneakers and other apparel, down from 50%, but we also spoke to p.u.m.a.'s global head of branding he says it's a balancing act the company gets about a quarter of its revenues from asia, china, a key driver for the 26% growth in the region in order to boost those sales, puma uses a lot of influencers, including jay-z, the rap mogul and also local chinese social media stars to drive sales >> we're working to understand the mind-set of the consumer there. to understand what's interesting to that consumer and provide relevant story telling around our products that they want to buy into our brand. the effects of the tariffs, we're working hard to mitigate those. you can't control that as a brand. that's geopolitics >> and puma says it's all about mil

frank holland, it's nice to have green going into the close. >> on pace for a positive finish havinghe biggest positive impact after previewing its outlook for ios update netflix the biggest gainer, despite negative commentary from green light capital. really strong day for consumer discretionary stocks activision up. hot wheels and bar by sales. chips and media are down for the most part, fox and texas instruments two of the big names. bob pisani at the new york stock exchange. >> historic high on the s&p 500. the important thing is traders have come to believe that the fed backstop is still very much present. that is, the fed will, indeed, step in and continue to cut rates if it needs to be, even if they changed the language somewhat one of the things the fed has definitely done this month is engineer a steeper yield curve as a result, bank stocks have been among the best performers this month they're up about 4, 4.5%, a major factor in this rotation we've been seeing recently throw in optimism on trade, helping technology names, particularly semi conductors and those are the major

bunds, they started at minus 57, they closed at minus 33 they have been firm and moving higher frank hollandhistory, we just couldn't seal the deal. >> hey, there, you know, you're right. the nasdaq on pace for its fourth positive day, just this close from a record close. microsoft, the best performer after securing that $10 billion jedi cloud computing contract from the pentagon. however, amazon is expected to challenge it chips and tech stocks really trading higher today in fact, the smh hit an all-time high today and other tech stocks like align, lmd, kla also getting a boost. transports on the other side of things csx, one of the worst performers in the nasdaq 100 after reporting lower weekly skrooumg volu volumes. >> we closed friday at 1179. got as high as $12.93 and it's well off of that right now $11.89 so a little bit above where we were on friday regardless, the public loves space in general a lot of retail interests, and they like richard branson, as well you'll hear a lot more about space in the coming months and years. and there's the "closing bell. the s&p 500 closing at a reco

. >> we have another earnings report out it is on mattel frank holland's got that for us. >> shares ofr a beat on the top line, a big beat on the bottom line. the company also announcing that its internal investigation of a whistle-blower letter has led to the transition away from its cfo. the company saying in its earnings release that the letter, which had been sent to mattel's outside auditors, questioned whether there were accounting errors in historical periods and whether mattel's outside auditor was, in fact independent. that investigation found that two periods in 2017, one was understate, the other one was overstated again, after a big beat on revenues and eps, mattel shares up more than 13% we're going to keep digging into these files right now. back over to you >> thanks, frank barbara, we talk about another beat down stock. this is one of them. turnaround story when you see numbers like this and hear headlines like this with changes. turnaround -- is it happening? is the strategy working? >> well, that's what's going to be interesting to see, what's in these numbers. that l

frank holland joins us he has more on the story hey, frank. >> reporter: you're right. $38 billion, that's valuation ultria's investment for 35% stake in the private market at $250 as the regulatory scrutiny increases, it's not clear if that sky high valuation can hold up hedge fund arsana is the latest to write down its investment valuing juul closer to $24 billion. the value on the second market can be as much as 24% lower. pricing shares at 225, $230. juul launched in july of 2017 as a spinoff of pax labs. it has roughly 72% of the ecigarette market selling directly to consumers and through 100,000 retail outlets a bloomberg report citing a person briefed on the numbers said juul expects revenue of nearly $3.5 billion in 2019, however, 80% of those sales come from flavored vaping products. state bans and health concerns could hit the revenue numbers. >>> unlike its un corn peers, it does have marquis names. including fidelity tiger global and preoxis ventures, also investors back overto you. >> did you practice that one pronouncer there >> several times >> better you than me. thanks, fr