and they're upset grubhub is embracing the same strategy. grubhub doesn't have any choice.to be in business the most common refrain here is the industry is much more competitive than they had been led to believe it's like they never used these online delivery services maybe analysts, what do they cater? do they only go out to dinner? if anyone was paying any attention at all would tell you this was coming. i think grubhub's management was clueless and most of the analysts who covered the stock were way too credulous people who are in the company have been living in a fantasy land, promiscuous fannedsy lapd. might be interesting where is that thing pinocchio went to? fantasy island but somehow they convinced most of the analysts it was real, perhaps helped by costco playing a rolep like big fish like postmates or doordash, the largest into the ipo chute at their own finance department but not all of the analysts. there was one guy that was real smart, he was selling, deepak. he did miss the major rally before the downturn but it turns out wasn't wrong, he was early bottom li

well, again, grubhub is absolutely dominant. less than half the size. they do ten times the volume. they take a lower take rate than what grubhub does, but because they're so efficient -- >> this is mei twan. >> yeah. jack: you don't just invest in china, you invest around the emerging markets. i've been saying it for a while only because i read it from some of these guys that are saying emerging looks like a screaming bargain in terms of the valuations of those stocks versus the rest of the world. at the risk of you having to talk your book, do you agree? >> valuation is important, and it's cheaper than other asset classes. you guys talked about this, earnings growth is still strong, the last five years have actually been the anomaly where earnings growth has been slow, but we're still confident that it's here to stay. jack: i i'll talk your book for you. not only has your funden the emerging market index, you've beaten the s&p 500 which is a neat trick. >> not my bogey, but i'll take it. jack: thank you very much. up next, rou

i don't know i mean -- >> like the grubhub thing all over again, right?> is it >> no, i don't mean -- i don't mean to liken their business models i mean this idea that a company can be punished enough at some point where there is a value pop decision to be had for lyft and uber, it's competitive yes. but at the same time, does it represent a time -- if you actually execute alittle bit, just a little bit, it could be leveraged so much more into results. >> well, they have a plan. a pact towards profitability they've laid out a timeframe. >> sure. >> when uber laid out its timeframe, it was a much more tentatively worded path to profitability. and investors saw through that. >> and lyft's not necessarily getting in on the losing money game of food delivery business the way uber has but they -- this note also said they believe that lyft could be profitable earlier than that sometime in 2020 we also talked last week on rapid fire about some of the more repeative things lyft is doing like teaming up with carvana, for example, to try and get people to become mo

well, again, grubhub is absolutely dominant.they do ten times the volume. they take a lower take rate than what grubhub does, but because they're so efficient -- >> this is mei twan. >> yeah. jack: you don't just invest in china, you invest around the emerging markets. i've been saying it for a while only because i read it from some of these guys that are saying emerging looks like a screaming bargain in terms of the valuations of those stocks versus the rest of the world. at the risk of you having to talk your book, do you agree? >> valuation is important, and it's cheaper than other asset classes. you guys talked about this, earnings growth is still strong, the last five years have actually been the anomaly where earnings growth has been slow, but we're still confident that it's here to stay. jack: i i'll talk your book for you. not only has your funden the emerging market index, you've beaten the s&p 500 which is a neat trick. >> not my bogey, but i'll take it. jack: thank you very much. up next, round table ♪ limu emu & doug

than the online food delivery business i think uber would explode higher if it sold uber eats to grubhubcertainly better than the current strategy or put the quote mark there is. semiconductor mergers tend to be problemic because most need chinese approval if nvidia is ever allowed to buy melon knox, that could change the numbers. how brilliant is jensen that you saw last week? jensen and everybody else. you say that about bezos if china is willing to play ball, it would make a ton of sense for nxp semi, skyworks, maybe they all come together boy, that would be fabulous. these potential mergers don't all have the beautiful synergy of schwab/ameritrade where the combined company with reduce money and lay off people that work there the elegance of marrying lvmh as sophisticated touch with tiffany. you don't always get a whole new drug pipeline for $9 billion but my point stands. some companies may be too big too be acquired. i'm tired of hearing how expensive they are if they were so expensive we wouldn't see all these deals i think it is a very, very, very, very, very, very good sign mari

grubhub devastated had it coming.loud stocks hit too parade of unprofitable ipos, investors out of patience for this model terrible for the stock wayfair is down 50% but not clear what they can do to turn things around. need to do wholesale re-evaluation of their strategy, i'm not sure they can pull that off. wayfair imploded last week because this market is sick and tired of companies with rapid revenue growth losing money, and impacted by tariffs, eviscerated. momentum stock without momentum. stay the heck away from it wayfair stock is going to be toxic. greg in texas. >> caller: yes, sir. i'm in the house of pain, big-time after pinterest beatdown last week what's your guidance >> here's the issue. they told you they were going to do x lot of people feel it's going to be x plus two. no, it's x pinterest is real company, going to do well but not grow as fast as you like and spend time in the penalty box. they're smart guys and figuring it out i would not abandon pinterest down here. andrew in ohio >> caller: i dig y

what do we got >> i said the other day that grubhub has been the biggest disaster in the quarter.s is going to rival that, anet. they're talking directly about a major cause in spending by a cloud titan, jpmorgan says it is facebook the confusion is this is the only company that has seen a major pause in cloud spending. we didn't see it in -- if you go over and say amd will go up because lisa sue is doing so well they didn't see it. >> what does arista do >> make white boxes inside data centers. >> thank you >> what happens here is this call was overvalued in call it was a call where people say i don't see it. >> we're not seeing a slowdown in spending in other cloud providers. >> look, she is the biggest. and she is very good i'm not trying to minimize they're a bad company. their a great company. they have been one of the great, great performers but without a doubt, this conference call made people feel that something is very wrong. >> could they -- >> is it because of it being an early sign, would they in some way see the demand slowing prior to other providers >> i think she w

the firm cites increasingly c p choppy results this follows its remove of grubhub after that stock felle than 40% after disappointing third quarter earnings the best-performs stocks are actually amazon, paypal, and bank of america. so while the worst-performing stocks since being added to the list are pioneer natural resources, biomarrin >> there's a point stephen weiss, i'm not knocking on goldman. some of these names like pioneer and marathon are trading as if oil is going to zero not quite, but close valuations at all-time lows. i will at least give goldman credit for sticking their neck out a little bit on the energy space. >> i've never been -- i used to invest in energy, and i haven't done it. i've seen some of the smartest, biggest names go belly up investing in the space and whether it's a ceo or andy hall, the big energy trader, couldn't put up the numbers there's too much speculation and too much going on there for me to get involved. but if you go back to under armour, i don't know why i was ever on their conviction list. when you look at their numbers -- >> they had fast gro

this stock has been a disaster but if uber can off load the ubereats delivery business to grubhub or doordash i think it would make a bee line from 26 to 36 and the stock would be acquired too doordash is private and you know what i mean. there are too many companies in the delivery space and it takes out a rival to benefit the entire industry. how about all of the cloud based marketing company, cloud based cyber security companies we need massive mergers to the stocks go i like the first horizon iberia tie-up bank. a very good example of two plus two making five. the bottom line, while mergers can be fantastic if you own stocks they're miserable if you own the stocks that are poorly performing companies where you'll be left holding the bag if nothing happens enjoy the fact we're starting to hear chatter again but don't feel compelled to speculate. for the most part, that's a game ryan in alabama. >> caller: hey, how are you doing, jim >> i'm doing well, how about you? >> caller: i'm doing well. i have a question about taylor brands so they're selling one of their corporate apparel l

new partnership with grubhub i ask are these delivery companies.re they not -- they're a blight -- if you're a restaurant chain with a high priced multiple you can't have a minor slipup which is why the stock got obliterated. verdict, no mercy. rcs which used to be hated is catching upgrades today. why? because the free fall for dram and flash chips and the two basic building blocks of technology, lam makes machines you need to manufacture the stuffer. when are they recommending the stuff? there was a big push today on it when the stock is up 100% already this year. massive mercy. at the same time, here we go you knew this was going to happen the hangar -- the thousands of dollar hangar used in my house for dirty lulu lemon pants nope as peloton reported and put in incredible growth and a much smaller loss than people were looking for. but that's the problem this ex-er cycle company and in the end it is ex-er cycles even it has the screen, it's still losing money that's what she does and ali and all those people what is that i know millions -- list

its same thing with grubhub. food delivery company that was the colossus $140 stock before it became clear that the vent commercial capital back door dash using revenue to scorch and burn public competition. the revenue growth that would have gone to grubhub, no longer the stock loses $100 with more than $2 billion in vc provided gas, including 535 million from softbank, the one pristine, now considered has been, door dash can and will mow down anyone. the debt tris of this unicorn? they include all sorts of companies that find themselves challenged by the cost of delivery versus typical customers. in some case, even the technologically savvy domino's has been hurt as door dash can mimic an entire door delivery system like the one domino's has. all this week we've been checking with institutions that use technology to increase their touch with customers, a more hidden disruptive force. we've managed to bob and weave around the 171,000 folks attending dreamforce, the extravaganza here's something we've come up the

order now on grubhub. >>> here's a look at the forecast in some cities around the country. ♪ ♪ >>> "harryans, now is your chance to live out your wizard dreams. the devere house, a bed and breakfast east of cambridge, england, is now listed as an airbnb. it's where the "deathly hallows" movies were shot. the location was harry's childhood home where he lived with his parents briefly as a baby. if you're interested, it will cost you $142 a night. no magic required. >>> on the cbs "money watch," boeing is facing a growing problem with cracks on its planes. and screen time among kids is soaring. diane king hall is at the new york stock exchange with that and more. good morning, diane. >> reporter: good morning, anne-marie. well, it's the 1st of the month. in the world of business and economics, that means it is jobs day. namely jobs friday. the labor department will release october's employment report at 8:30 a.m. this morning. the numbers are expected to take a big hit from the more than month-long strike by gm worker now ks clolower here on wall street thursday led by a decline in big bank

a group of heavily hyped and fast growing e-commerce players including food delivery portal grubhub, on line furniture retailer wayfair and etsy had shares crushed losing between 35% and 60% from their peak values.ec now while thet bout of weakness came in response to disappointing quarterly result the action does reflect a broader reckonning forne bues to revolutionize consumer behavior but failing to prove they can do so prosrously. none of the above companies hav shown the sort of reliable generous profit margins of pure technology businesses. just because thehe operate corough an app doesn't mean they enjoy software emics. they're saddled with the cost of real world delivery and many well financed competitors. now the challenges only underscore the vast advantages held by the likes of amazon with the massive scale and vast prime subscriber base. the poor performance of ub eaeuber and lyft reflect investors inwillingneses to endorse silicn valley's growth at any cost ephilosophy. uestion now zshgs all this amount to an emerging crack in investor risk appetites or the willingness t

>> the whole uber, wework thing got in his head. >> door dash. >> uber eats grubhub.onnects to the restaurant somehow something happened there. >> door dash brought caviar. he's right and that was the end we were caviar, next thing i know we're door dash. >> door dash is the only food delivery online that gained share, acording to edison research. >> if you go to your machine, you'll see they suddenly are your provider, even though you didn't make them. >> they have the suburbs >> the suburbs they own the world hurting dominos, hurting yum, everybody, hurting cramer. crushing cramer. >> we come back, cramer's mad dash and opening bell. we await the president around lunch time don't go away. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from managing inventory... to detecting and preventing threats... to scaling up your production. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. ♪ >>> all right, let's get to some stocks we want to keep an eye on this

you don't like complexity of -- >> here's what happens you go to uber eats, you say, grubhub is sayingpay x got to come underneath grubhub and then you go after that you go to door dash and say, look, uber is coming in here it is what we call ootball you can pick these guys against each other there is no edge it is a total commodity. what i called uncoded free sheet paper. there is no model that can make sense. no margin that can make sense. and when you're in the restaurant -- even my little restaurants, i can argue with these guys. >> my point is about uber, there is ride sharing, there is logistics, there is delivery do you want them to be in all these -- >> i like them to be in freight. freight is not that good now because of the economy they're doing fabulously in freight. that's a great business. they have that technology business that was hard for me to read, sounded like -- >> other bets, yeah. >> i just -- i think -- >> i think that if -- there are -- remember they say they're number one, but some of the markets have two, three, four, five competitors. >> some of the -- dd, a

chanos according to the times saw one of the firm's most profitable months thanks to bets against grubhubhentic brands group will take over. barny's brand name will be licensed to sacks fifth avenue >> one area that will look for a few good candidates to keep companies safe cnbc's kate rogers joins us now. >> good morning. some 2 million people work in cyber security roles around the globe. there is a skilled labor shortage of skilled workers needed to defend tdi were live today in washington, d.c. are looking for developers to create security programs and cyber analyst like mandy who started her cyber career in the navy >> it is interesting it is always something new you are never looking at the same thing it doesn't ever get boring it is always something new to learn. it is important. this is not only critical to commercial and private sector but also federal government and military >> tdi has competitive pay and benefits as well as tuition and training and training within the organization to help vest in employees to grow their careers. the ceo has noticed something. people have ghoste

taco bell party packs get your first delivery free on orders of twelve dollars or more only on grubhubw retinol24 faced the competition and rose above. you've never tried a retinol like this. olay's retinol24 complex hydrates better than the #1 retinol. visibly smoother brighter skin in 24 hours. a skin upgrade? crushed it. new olay retinol24. face anything.olay. and also available in retinol serum and retinol eye cream. [explosiahhh!gunfire] what? unlock 2xp with mountain dew and call of duty® modern warfare. wnongenemodi. nongen. oh, triscuit! is non-genetically modified. nongenemodiscuit. triscuit is non-gmo project verified. triscuit. make 'scuit happen. i am also not genetically-modified. (cheers and applause). >> trevor: welcome back to the daily show. my guest tonight is an msnbc anchor, host of the latina to latina podcast and author of the new book the like ability-- like ability trap, please welcome alicia menendez, welcome back to the show. >> thank you, trevor. >> trevor: so this book, i feel, speaks perfectly to what we are sub consciencely dealing with in every single deb

problem with eats is they are competing with irrational competitors in the u.s., you have doordash, grubhubpost mates. they are all just burning cash i also believe the ride sharing business is only in a temporary period of rational behavior. as uber loses more market, they will have to react with more promotions >> last week, lyft said they were planning to return to profitability by fourth quarter of 2021. uber came back and said, for all of 2021, we are expecting profitabilities. >> businesses tend to plan longer term but i don't see the idea that you have the permanent stable duopoly you look at the london market, uber would have the ride share itself you see captain and others come into the market. uber has a two-month license with tfl, which is a huge risk for the markets and certainly a profitable one >> i want to broaden this out a little bit there have been high profiles. many of these companies are actually loss making does that mean so long as a company is not profitable, it is not a buy? is it that basic >> it should be a far greater degree of skepticism for all of these high-pr

and barclays announced it is double upgrading grubhub the company's board suggestions on how to improvehat business. the anti-trust probe may be expanding. sources tell cnbc by the attorney's general that represent 48 states, puerto rico and washington, d.c. will go beyond the company's advertising business and get into the search and an drdroid as well. >> more on the impeachment proceedings. >> democrats are characterizing the hearings as a success for the truth. nancy pelosi describes it as a moral obligation >> as custodians of the constitution, we must be defenders of our democracy because our democracy depends on that and not a monarchy. >> the former u.s. ambassador to the ukraine will appear. she was removed from her post this spring and she is the one president trump referred to as bad news in the phone call with the ukrainian president and the president said she is going to go through some things she was asked, did you feel threatened by that she answered yes david holmes in a hearing today that will be private he is the staffer who overheard president trump ask the eu ambassa

we're going to partner with grubhub and ubereats and it will be a fast casual -- modern fast casual conceptool vibe. and it will be boston market food that is served with a more modern twist so we're aiming at people who are heavy delivery users, who are not really into chain restaurants, but looking for, you know -- not food snobs, either so they're looking for a bit more of a modern twist on great food >> what -- apart from thanksgiving day, which we know what people would order then, what are the biggest-selling items? >> well, we -- rotisserie chicken -- our row 'tisti >> well, we -- rotisserie chicken -- our row 'tistiserie chicken -- >> you were boston chicken >> we were boston chicken. and it's still our most popular food item. and we slow roast it for 90 minutes and it comes straight off the spit and into your meal or on to your sandwich >> very quick answer, plant-based foods, meets, you experimenting there at all >> we're looking at it it's obviously something that the consumer really wants and so we're talking to our suppliers about what the options are, whether for rotisserie ch

and grubhub, remember grubhub talked about the promiscuse diner and that was not a diner in queens.gling, looking at the yelp review. it is how people care about delivery which is nothing there is no loyalty. >> one of the oddest corporate communications -- >> i love the back story. >> it was great. >> that's what we're going with. we love it we're all in. >> i flew in from l.a., my arms are tired. it was like a -- a -- >> i know cal nick owns a lot of stock behind this. interesting to get rid of 20 million shares at the lows. >> yeah. >> well, what is his basis >> of course >> still, it is money. >> that is so profound. >> thank you >> holy cow. >> only here at "squawk on the street." >> i have a keen sense for the obvious. >> i think that's rather remarkable. >> i like to show it sometimes >> david mentions wework jamie dimon was not asked about wework last night on "60 minute oz s" but lesley stahl got him to talk about executive pay. >> you were paid $31 million last year. too high >> i have nothing to do with it. >> you could return some of it. >> i could is that going to solve

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headed into its worst day ever are comp sales trailed estimates forecasts.ent cut the tie up with grubhuby is also a cause for concern. abigail: forecasts. truly an ugly day for these shares, the worst day ever for shake shack. a very interesting dynamic occurring here. as you mentioned, they missed third quarter comp sales, but actually beat revenues in a big way. that speaks to a lack of organic growth. basically, comp sales our existing stores, up just 2%, missing estimates. overall sales beating by 32%. that speaks to the fact they've been opening stores. in the third quarter, they opened 15 stores. new store growth growing of 35%, reminiscent of the crisp cream -- the krispy k reme craze back in the day. if we go into the bloomberg very quickly and take a look at this terminal, the stock ipo to back in 2015. high, 70%16 at that shortage risk. now just 18%, still very high, but investors missing the worst day ever. the ipo shares are still up a healthy 80%. somee: 80%, in contrast to of the recent ones. thank you very much. abigail doolittle there. this is bloomberg. ♪ vonnie: it's ti

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grubhub and uber have has a big slide as of late anyway. time nor a cnbc news update.ot it >> here's what's happening at this hour. germany has arrested three suspected isis members on suspicion of planning an attack. the three young men were picked up on the outskirts of frankfort. one is a germany, originally from macedonia the other are turkish citizens they are suspected of planning an attack using explosives >>> the widow of baltimore congressman elijah cummings says she is running for his seat in the special election scheduled for april of 2020. maya cummings make the announcement in baltimore, telling the crowd that she and her late husband talked about her continuing his political fight. >> i would vote for impeachment. i think that what's coming out of washington is incredibly concerning and disturbing. and it basically goes to the heart of the future of our democracy. congressman cummings was laser focused on uncovering the corruption that's happening in the highest office of the land >> the country's largest milk producer is filing for bankruptcy protection.

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second trade, this one is a put trade and it's grubhub you remember we talked about unusual activity as well as alternative data suggesting they weren't going to do so well now we have people on a rally in the stock. they're buying the 39 puts that expire next week so this is a very short-term play they bought these puts for about 40 cents i bought some just in case it goes down again. remember, it bottomed at about 39 -- 32 bucks about a month ago so is it going to make another whoosh downward? that's what somebody is betting. i'll be in these one week. >> good stuff. come on back over. >>> coming up longtime hedge fund manager, louis bacon making a big move today after 30 years in that business he joins or, well, he joins a growing list we're following the money when "the halftime report" returns in two minutes. but in my mind i'm still 25. that's why i take osteo bi-flex, to keep me moving the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex - now in triple strength plus magnesium. ♪ oh, ho! oh, ho, ho, ho! you... you got me. uh, what do y

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competition with uber, potential international expansion, what it would take for lyft to buy a company like grubhubfornia's a.b. 5 law and whether that law was short-sighted or not coming up on "closing bell" at 3:00 p.m. also another interview with rich barton, the co-fournnder and ceo of zillow. >> thank you. >>> when we return, luxury auto brands in focus as the auto show kicks off this week. the ceo of mercedes-benz usa is with us right after this break we're back in two. as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. that's why xfinity mobile lets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year. and now get $2

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grubhub. since 2017, google's cloud computing unit has announced deals with schlumberger.ployees signing the letter asking the company to drop contract dealing with fossil fuels. k.k.r. raising $6.5 billion for the european buyout fund. the firm will focus on "private practice" -- private equity ransactions in western europe. --edirm invested ined soer soerberg. alix: live that google story. it's not only shareholders now you have to worry about, it's like diverse -- like your employees. romaine: i know, employees are just the worst. alix: it's not only like they want certain things like we want solar panel fours office. you can't do business with these companies. romaine: i mean, you think about these companies were founded a lot on the so she is and this ideal and they created this employee combace that bought into it. alix: very good point. alix: we're going to look at three companies. first off, i'm looking at chesapeake. one of the downers here in the s&p, down by 6% premarket. the company reported a loss of 11 cents. it also had a slash of spend for 2020 by lamb thir

no question that if these guys announce right now, they're going to leave uber eats and sold it to grubhubk, maybe more. >> went public at 45 some argue now the overhang is now 10, maybe $12. you buy that something like that? >> yes, that industry is totally not an industry, it is very rare that you ever see an industry that is not an industry. that means whenever you pay $10 to get $8, that you can't -- that's a really bad lemonade stand. you go to your mom and say, hey, listen, how much is the lemon? okay, well, i'll charge 5 cents. >> i continue to,ba come back t softbank i'm fascinated by the decision at softbank to fund one of its largest investors, competitors, with even more money and in other words an enormous investor through the vision fund and uber and in dd. dd competes with uber. one of the key reasons why in foreign markets uber has to be pressed to spend more than they otherwise would. this goes on you have masa sitting there funding dual companies, if not even more on occasion, that are competing with each other, using his money to do so and not perhaps acting rationally as

order now on grubhub. try our new warm grain bowls today. thsevere rheumatoid arthritis, month after month, the clock is ticking on irreversible joint damage. ongoing pain and stiffness are signs of joint erosion. humira can help stop the clock. prescribed for 15 years, humira targets and blocks a source of inflammation that contributes to joint pain and irreversible damage. humira can lower your ability to fight infections. serious and sometimes fatal infections including tuberculosis, and cancers, including lymphoma, have happened; as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. tell your doctor if you've been to erngnfonare , and new or worsening heart failure. and if you've had tb, hepatitis b, are prone to infections, or have flu-like symptoms or sores. don't start humira if you have an infection.oc on further irreversible joint damage. talk to your rheumatolog rit herit no >>> one of the legendary figures of hollywood died there week. robert evans was a movie producer a

that's why we're going to kill grubhub., it is this whole rush to lose money which of softbank pioneered. >> yeah, well, if they didn't pioneer it, they certainly brought it to a new level, didn't they? >> yes >> still, though, even after wework, and others that's still the discussion -- i know you're being somewhat sarcastic are people really talking about that or do they look for you return on investment of capital and a growth trajectory that gets you to profitability sooner now? >> yeah, it is about revenue growth and if you get revenue growth, people feel profitability follows. look, schwab developed a model of taking revenue growth by t e taking in assets it worked. robin hood is kind of, listen, if i get millennial accounts, it will work. so phi, same thing millennials are not going to the traditional. the millennials are going to what is free that's the pay pal deal. we didn't talk nearly enough about it that's honey when you hear about it, millennials only use it. i talked to people -- millennial kids lisa ellis, i

look at yelp grubhub. all these companies.re for sure >> something for us to watch on a lot of these companies pair of gaming stocks will report after the bell. let's go over to josh lip the tennessee. >> reporter: let's start with activision they are looking for 23 cents on ref view of 1.16 billion publishers new version of call of duty the looks be off to a strong start commentary of new version of overwatch when that launches that game is the basis of activision's esports lead. tick 2 analysts want to see 1.68 on revenue of 926 million. i want to see more how relatively smaller gains are being received too for example borderland three back to you. >>> josh, thanks mike, these guys had a bad start but recovered in the second half >> they are trying activision in particular is trying to come back a little bit. it's interesting, because i think the common wall street wisdom was don't worry about fortnight, that kind of was the timing when these stocks did peak a couple of years back. >> interesting because best buy when they w

you know, doordash in the u.s., grubhub.nding like crazy to acquire the same subset of users and no one is really reining that spending in where i think ride hailing is starting to even out a little bit more in terms of incentive spend or at least not being as sort of lavish as it was in the past, they're just -- they're spending like crazy on eats. there's no real clear timeline for me on when that spending is going to stop happening. and you see the growth go crazy on eats, but it's costing them a lot of money to acquire those users. i imagine investors hope that spending will decrease in the future >> we talk about lyft and uber in the same breath certainly because of the ride sharing. they are two different companies with various business models do you like one better than the other? >> we would stay clear of both but longer term, i think that is the business as well as all of the investments in many other places in the world. we want to see more sustained economics, improvement in economics. improvement in the last 90 d

time to get word on the street are companies like grubhub and yelp lonely at the altar according to raymond james, they are. the firm throwing cold water on potential m&a in the internet sector, saying odds are low giving evaluated competition raymond james would not view grub and yelp as m&a candidates with zpisignificant falls. karen named chipotle as the best idea for 2020, saying its new drive-through format could help it grow faster rising its price target to $970 a share, up 3% today >> so jeffries doing a deep dive into retail, saying data suggests streetwear and retrocycles are past peak. the data is most positive for zumiez and guest, but most negative for urban outfitters and footlocker they also noted this retrotrend might be weakening on its call on friday. jeffries also mentioning that vann's is showing viability, this as the vsco girl trend gains traction this includes sporting a more nach natural look when it comes to makeup and cosmetics earlier, joe flory weighed in on how the photo editing app has impacted these big brands. >> there's really a space in which people are sha

major international shipping companies and other corporations such as amazon, disney, hilton, and grubhub have all refused to partake in that trade that devastates shark populations around the world. just this year, canada passed a similar bill. in large part thanks to our efforts here. that is the intention of this bill. when the united states steps up to lead, others will follow. h.r. 737 would build on the leadership of these states, territories, and companies by eliminating shark fin sales and possession in the united states. in addition to its 287 bipartisan co-sponsors, this bill enjoys the support of recreational fishing interests, aquariums, over 150 scientists, 150 chefs, over 300 dive businesses, and over 130 nonprofits. with this overwhelming support and at a time when so many shark populations are depleted, it's of utmost importance that we pass this legislation. so i want to commend congressman sablan for his leadership and also congressman mccall for his leadership on this bill. and i urge my colleagues to support it. with that i reserve the balance of my time. the speaker p

food delivery business following grubhub's disappointing earnings earlier this week.s >> i think delivery will evolve in the u.s., but right now, unless you have a very high ticket, the delivery costs are prohibitive to the consumer. so people have to invest delivery companies will have to figure out a different model that enables thatprice to be a lower price to the consumer. >> delivery continues to be a battleground let's send it over to rick santelli with a check on the bond market in chicago hi, rick >> hi. what a wild day. if you look at intradays of two, we are up on the day if you look at a chart starting in august for 10s, the midpoint of the extremes is 167, basically where we held intraday today and a julys 1st high >> it's really been about earnings and china this week hope on china. apple really solidifying that as it, too, is at an all-time high. but the sectors, we saw both the hardware sector and the chip sector follow suit, hitting new highs this week, bob a lot of optimism there. >> yeah, that's right, bertha. a 5-2 advancing to declining stocks toda

are getting killed by the market >> this is one of masuson's big investment >> this is happening to grubhub. they came out and the unicorn did really well. the street is looking for real growth and real earnings when you look at some of these, they are not getting positive. >> i don't even think we can use the headlines we used last adjusted before we take anything out of the cost that actually have to be paid. certain costs are included >> it is also two years out. >> i think that's the thing. >> they've been received in a very different way. >> you can basically make anything >> what are you writing off in there? >> when the clarity comes to that, the street can give them some confidence. >> we should give you an update on the trade conflict. china is pushing the united states to move more tariffs. cnbc has learned that the deal was signed later this month is widely expected to include a u.s. pledge to get rid of the tariffs that had been scheduled to take place next month on about $156 billion worth of chinese imports. others say chinese negotiators want washington to drop the 15% tariff

the company cited a transition grubhub as its sole delivery partner as what contributed to the drop. shake shack executives cautioned that more volatility is ahead thanks to the grubhub transition but the company does expect to see financial benefits in the coming quarter. wall street cosigned the sentiment saying its full-year sales forecast implies a fourth-quarter decline and it expects a grubhub transition the last into the year 2020. >> these are 10-year note treasury futures, actually trading in the direction of bonds. we see a decline, down three days in a row, 1%. the move since early october suggesting that the risk on move once again. a we put it together with positioning, it is kind of interesting. in 2017, you see that the net longs were very strong. in 2018, the shorts trying to play to the fact that bonds were selling off. and there is the huge risk off. the is interesting, during recent selloff, some of these short that have been coming out over the past couple of weeks missing the three day selloff we are seeing at least right now. romaine: thanks. still with us at th