hormel is a little weaker than campbell's i get it however, hormel is a great store product, including spam, and i think hormel is the kind of stock you want to buy on weakness it's not aviva they have to figure it out and nvidia -- >> we'll talk more about nvidia. >> a lot of these companies, people think they're going to come out and say there's no more inflation. what are they, kidding i mean, they have real issues involving what he was saying, prices that are not rolling off the products but more important -- why is anyone surprised with that why would supply chain prices dissolve i just can't believe that people think that way what >> nothing you want to get to the opening bell >> the dow down 118. jim, a couple things last night. btig saying june lows are in >> mark sebastian says when the vix goes down while the market goes down, that's a tale you may be nearing the end of it should be going up as the market goes down. the real cost currents of the technicians are extraordinary here but hard market to like. it's really easy to go home an have your wife mess you up i went home an

some worse overall, hormel is dealing with cost pressure, other issues as well so hormel foods down 4%g that trade play out for the s&p 500 stocks also watching what's happening with the fallout from yesterday's news on nvidia it will be restricted by the u.s. government from selling certain computer chip, high-end once geared more toward artificial intelligence and machine learning towards customers in china and russia. that ar there's not a lot of business with russia right now. but nvidia is one that would be impacted those stocks down. nvidia said it would be a $400 million hit to revenues. kla, on semi conductor they're moving lower in sympathy with some of the nvidia and amd-related chip stocks. and bed bath and beyond downgraded to a neutral rating on the heels of its strategy eck update the analysts over at raymond james say yes, the strategic update helps the liquidity position at bed bath and beyond but they think it is kicking the can down the road and refer to it as abysmal. down 5% right now, becky i'll send things back over to you. >> you know what i forgot? >> what's tha

. >> and it's back from that 58.12 now at 62 and change let's move on to hormel.ople food from hormel too as part of the training. is it a technical issue or fundamental problem with the business >> that's a good question. i believe that the technicals reflect all of the fundamentals, tyler. so when you look at this, you also have the same issue it was above all of its moving averages now it's below this is also a three-day rule here but more importantly on fundamentals, if you look at the fundamentals, tyler, to your point revenue up 18% year over year nettin sum up just under 15% operating income up 19%. fundamentally it sounds like a great story. when you look at it technically or when you read a little bit deeper into what the ceo said, these could be transitory issues that they're dealing with as far as inflationary pressures on the stock. i'm a firm believer in let's wait until those inflationary pressures at least flatten out they don't have to become tailwinds, but let's wait until they flatten out a bit before we dive in. >> our final name of these big mo

the same people in the same jobs. >> exactly so, for louis, for example, he was vice president at hormelave a team to be able to go serve on a corporate board at that time, because his job was all-consuming. now he's retired, he can do that you're looking at the latino corporate directors association, the hispanic association of corporate responsibility, they are trying to help these up and coming executives to help them climb the ladder, to get to those senior positions, and then to be more in a position to be tapped to be on a board. because at the moment, you only have 3 to 4% hispanic ceos in the c-suite. >> hispanics are like 20% of the population, so the proportions are a bit off. >> it's about helping to develop this next generation >> there you go. bertha coombs, important story bertha, thank you very much. >>> all right, now let's go to tyler mathisen for a cnbc news update >> brian, thank you very much. >> here's what's happening at this hour, folks an explosion destroyed the top floor of an apartment building on chicago's west side eight people injured, have been rushed to loc

. >> after 25 years growing new businesses at hormel, he set his sights on a corporate board seat. >>uld be the best way to honor those who helped me. the best way would be to pay it forward, helping others to succeed. >> reporter: in june he was named a board member at american outdoor brands in july he joined them ripping the nasdaq bell. >> it was important that we had somebody on our board that would help us understand and really target what luis, our new board member would call the emerging consumer, and help us domestically and grow internationally. >> since the pandemic american outdoors customers are increasingly diverse. >> this is where you draw from the experiences of being exposed to business cases in different geographies or different cultures that will trigger ideas that perhaps your competitors are not seeing. >> reporter: racial and ethnic diversity is up in corporate board rooms since 2020 in fact, for the very first time, all 500 firms in the s&p 500 now have at least one diverse board member but hispanic board membership now 5% remains disproportionately low compare

take a look at general mills, hormel foods and kellogg. higher today we'll be right bk.ac >>> time for today's three-stock lunch. we're going to dig into three of the biggest laggards first up is marathon oil down 16%. caesars entertainment off. let's talk to the cio of nation shares let's begin with marathon. why not? down 16% so far this year. >> have tough time marathon has a p/e below five but that's because the p/e is getting killed today down double digits and that's because wti is also getting killed, so p/e is coming down because the e will come down. this is an anti-recession stock. it's a high beta stock tyler, this is really tough sledding in an environment like this i would stay away. >> scott, i believe you're not a fan of caesars either? >> no, i'm not they don't have the asian exposure that, say, las vegas sands does it will be tough for caesars corporations will cut back on travel and entertainment spending that's where the dollar really is for las vegas p/e at $1.55 -- and i mean 155, means it's really expensive. online sp

hormel, respect we just thinking about hot dogs a right i now? you know, labor day's coming.ng the laggards on s&p after food processing company reported fiscal third quarter results that missed analyst expectations. the minnesota-based company also lowered its full-year profit outlook showing continuing plaio its profits. and shares of five below are moving higher after it announced it will convert the majority of its stores to its higher priced five bond beyond concept. the. chain plans to open over 200 stores next year. deutsche bank maintained its buy rating and raised the price target to $2.05 per share. five below, stock up 5.25%. >>> well, rent prices are skyrocketing as they reached $# ,000 a month many june for the very first time on record. that's the average. myself, which is notorious for high living prices, hit an average monthly rent price surpassing $5,000 for the month of june. it's crazy, i know. millions of people are now backed up on their rent payment, and heir facing some brutal consequences. jeff flock is live in philadelphia which is unone of the tighte

an s&p 500 company, named to the board of american outdoor brands just last june after 25 years at hormelw markets. since the pandemic, the outdoor firm has seen its customer base become increasingly diverse, and that's why they wanted to tap the avid fisherman and diver in part because of that expertise he had with the latino and south american markets >> you draw from the experiences of being exposed business cases in different geographies or cultures that will trigger some ideas that perhaps your competitors are not seeing >> that is one of the things that is prompting a lot of companies to look outside of their usual groups over the last three years especially, the push for more representation on boards has now resulted in nearly 1 in 4 directors on s&p 500 boards being of racially or ethnically diverse -- a racially or ethnically diverse group but despite the rapid growth in the hispanic population overall in the country, the percentage of hispanic board members who now make up about fi5% of s&p directors, it remains disproportionately lower compared to population size. especially wh