to be at risk, but one area of discretionary spending that could hold up in a slowdown is food kate rogersl safe havens in the restaurant space, kate. >> hey, kelly. well, inflation is hitting nearly every restaurant name we all know there's one silver lining and that food is typically the last place that consumers will pull back during a recession because we all have to eat k cowen polling 2,500 consumers on value perception, wendy's, taco bell, mcdonald's and panera were the highest scoring in terms of above value for the money. for low income respondents, wendy's mcdonald's, taco bell, panera, and pizza hut for above average value perception the overall top five with yum brands, darden, sweet green, chipotle and mcdonald's. separate research shows that one place where consumers may start to pull away from is delivery. recent data fra black box intelligence for q1 showed that guest sentiment in terms of value was negative for both full service and limited service brands when it came to off premise dining the bad news is that sector-wise nearly every name is in trouble, even brands that c

. >> kate rogers, thank you. >>> that's going to do it for us here on "squawk on the street," and that's going to do it for me for the next couple of months, "techcheck" starts now >> see you soon, morgan. good friday morning, i'm carl quintanilla with deirdre bosa, jon fortt, and julia boorstin. where does the deal stand? is this a live renegotiation taking place over twitter? and what does the sec think? jon, a lot of discussion about whether or not it's a better price for twitter, whether it's trying to stem the losses in tesla stock, or maybe both. >> maybe all of it, i mean, the currency he's paying with got weaker, tesla stock and then the comps on twitter, other internet stocks also got cheaper, he's going to do buy something for a premium price with a kind of weakened currency. that's not a great deal. so, you know, maybe he's looking at bots, but i don't think a lot of people believe he's looking at bots. he knew that bots were a problem to begin with. it's one of the things he wants to fix, right julia, that's going to make this a gigantic deal where he's going to grow revenue,

back to you. >> thank you, kate rogers.s is not the kind of stock this kind of market likes, steve grasso, obviously, down 21%. >> no. no, it isn't and just talking about it, i know fundamentals don't matter and i know the actual granularity doesn't matter, but i think we were pretty unanimous on this desk that it is not a healthy substitution for meat. it i loaded ed with sodium and load with fat forget about that. let's talk about tyson if the united states starts worrying about food and ag and distribution net works and supply chains, beyond meat doesn't have any of that going for it that's not going to help with the head winds going forward it is ta growth stock, tsn is where i would be. >> brian kelly >> i looked up the pe ratio of beyond meat on my google machine here, i got an na. you know why it doesn't have an e the e is negative. when people are looking for how much cash is on their balance sheet, where can i get a value here, beyond meat is a name you don't want to be in. i don't care whether you like the meat, d

shep >> kate rogers, thanks very much >> i'm shepard smith, on cnbc. it's the bottom of the hour. time for the top of the news >> gop congresswoman marjorie taylor greene finds out whether she'll be eligible to run for re-election. >>> a massive explosion at a five-star hotel. now the frantic search for survivors with more than a dozen people listed as missing >> but first, the cdc trying to figure out what's causing a mysterious outbreak of hepatitis cases in young children. the agency reported today it's now investigating more than 100 severe cases in young children that's up from just 11 two weeks ago. at least 90% of those kids hospitalized 14% needed liver transplants, and five children died health officials say they found cases in at least 24 states. the one here that are shown in blue according to the cdc, they have traced cases back to last october. the agency issued a health alert last month, warning doctors to be on the lookout for unusual cases of liver inflammation or hepatitis in young kids. cnbc's meg tirrell covers science and medicine for us and she's on the top st

. >>> speaking of fast took, kate roger with the details on mcdonald's. >> we got a look at the new gradingtem for performance and customer excellence that mcdonald's is rolling out with training started this summer it notes the business climate is changing in the overview of the system, saying it needs a new approach supporting our growth plan objective the program has frustratedsome franchisees, calling for between six and ten visits a year per location, on top of other inspections. now, from some are not happy with the changes, which they call lobe collaborative and harsher, in terms of grading we talked to two owners with decades of experience, saying their concerns are over hiring and retention in this environment, not actually with the grading itself mcdonald's said we must remain laser focused on our world classes. that is a lots to keep up with, many of these companies, all of them included, are trying to hang on to workers in this very competitive environment. this is one thing they're not happy about. >> something i'm sureyou'll continue to dig into indicate rogers, thank you will

kate rogers has more on that for us hi, kate. >> morgan, good morning.store sales to increase by 6.8%. a 9% increase in the americas and a 0.6% increase internationally. china, starbucks second home market will also be in focus as covid weighed on its performance last court with same-store sales falling 14%. it remains to be seen how that plays out this quarter in the u.s. and china in q1, inflation also caused the company to slash its earnings outlook and it said it would weigh on margins full year the big story is howard schultz's return as ceo running a very different starbucks consumer preferences in the importance of things like mobile order and pay and drive through. the company stays down an ongoing push to yien unionize. the union filed a charge against starbucks alleging the made had violated the national labor relations act. schultz told u.s. store managers last month the company was reviewing its new benefits program. without separately negotiated contracts. starbucks said this is the law it's not howard's opinion. now one of schultz's first m

. >>> mcdonald's annual shareholders meeting is set to begin soon kate rogers has more. >> the shareholderg is getting underway in the next hour it's showtime for carl icahn, who launched a proxy fight with the company. it collaborated with the humane society. mcdom's said by the end of the year up to 0% of the pork will come from crate-free pork. icahn has proposed two director nominees to the board to support this mission they have recommended that shareholders vote with mcdonald's on all of its board nominees appeared against icahn. "wall street journal" reported yesterday based on early voting icahn's proposal was set to fail now, the second proposal comes from an investment group on a third-party civil rights audit regarding practices on the policies for stakeholders. mcdonald's has advised shareholders to vote no on that audit as well, saying in a statement that it's aligned with the proposal's stated goals but shareholders would be better served by our vigilant focus on the robust strategies, assessment and report ing processes that are underway. so a jam-packed meeting. >> my under

let's get to kate rogers morning, kate. >> good morning.tarbucks updating partners this morning saying it made the decision to exit the russian business as the war on ukraine continues. as we mentioned on march 8th we've suspended business activity in russia, including shipment of products starbucks made the decision to exit we will continue to support the nearly 2,000 green apron partners in russia including pay for six months and assistance for partners to transition to new opportunities outside of starbucks starbucks has about 130 locations in russia so it makes up a small footprint and been there since about 2007 it's the second brand to exit in the last few days. mcdonald's said it would sell its russian business that's been there for 32 years the company said the continued ownership of its business in russia was no longer tenable nor is it consistent with mcdonald's values mcdonald's has far more locations there, about 850 it announced the say beerian lic licensee in the market would operate them under a new brand a noncash charge of

kate rogers will have more on the survey throughout the course of the morning here on cnbc.y the way, join us at 12:00 p.m. eastern time for the cnbc small business playbook. you will hear from business leaders are a variety of topics on small business owners in america from inflation and labor and ways to secure funding go to cnbc.com/events. it should be a great program today. >>> let's check on the other top headlines. frances rivera is in new york with the latest. good morning, frances. i think we are having technical difficulties with frances. we will get her back. >>> we have more on the show the fed-induced rally and why investors need to pay attention to opec as well. if you haven't done so, follow ous podcast. if you miss "worldwide exchange" check us out on apple or spotify. 'lbeacafr is (vo) this is more than just a building. it's an ai-powered investment firm with billion-dollar views. a cutting-edge data-security enterprise. yes, with a slide. a perfect location for the world's first one-hour delivery. an inspiration for the next workout cult. and enough space f

kate rogers has that for us. >> the big story line, some stocks and companies holding up better thaneighing on business the costs were up 10% in the quarter. more than doubling the revenue growth hitting its profit margins. ceo david gibbs had a silver lining if there's a pullback in caughting back, it will be favorable to yum wing stop missing estimates this quarter, costs higher than estimates. bone-in chicken wing prices up 14%. it is projecting meaningful deflation, that's something you don't hear often these days for wings going forward. chipotle, another standout in terms of pricing power the company said this quarter it had seen resistance from consumer on price hikes, a similar message in q4 of last year the price hikes offset the margin high of impact of beef, avocado and labor costs. 4% increase fi end of the quarter. names like cmt, starbucks and sweetgreen have been popular but despite the loyal customer bases, many stocks and companies have been absolutely hammered. every restaurant name is in the red. except one name, bloomen brands, the parent company of outback steak

and kate rogers is here with the story on this one.are we going to hear from howard >> this will be his first earnings call. and 59 cents on are revenues of 7.6 billion for the quarter. second increase by 6.8%. that includes a 9% increase in the americas 0.6% increase internationally. china, starbucks second home market will be key as covid weighed on its performance in q 1. and the big story will be howard schultz's return and he wanted to suspend the buy back program we'll wait to see if anything is made on that front and the union battle in terms of cost and public image for starbucks the stock is down 20% or so. >> 30% below its 200-day moving average. that is a really big move historically speaking, isn't it. >> it's amazing. the last time it was 30% below the average was during the depth of the 2020 collapse before that, you have to go back to 2009. the case can bow made that the stock is so bad, it's good it leads us to think that it's at least too late to sell it but here's the issue, if we look back 2009, 2020, it needed a bro

price company not expected to report a profit and the fact the stock carries a short interest, kate rogers tonight, kate >> had a rough six months over 70%. 2021 really challenging and ethan brown said they've got increased competition in the retail space the food store segment that will be very curious to hear what he has to say about that tonight the retro business fared somewhat better. both really important segments to watch because beyond has increased its chicken offerings in particular in more locations in grocery and also, remember, launched pepsi plant-based market and trying out new locations for sales like drugstores and convenience stores to be a ast-minut purchase to run out of one of those places to see if that moves the needle at all and a huge year for partnerships and we saw the stock flying up and down on the false headlines that mcdonald's was permanently adding the mcplant to the menu and really investors are looking for good news to hang on to with this name. >> are you part of the short interest and are you worried about a short squeeze because the headline like what

gown to kate rogers with more on the numbers app the call >> well as you mentioned, it a mixed quarter for shack and that stock has been bouncing around after hours. loss per share of 19 cents, that is 3 cents besser than the lost of 22 cents analysts were expecting. revenues at $223 million for the quarter ahead of the $206 million projected same store sales lower than anticipated at up 10.3% in the quarter. guidance also a bit lighter than expected for q2. shack is down about 40% and closed lower by about 6% and on the call the ceo noted there was meaningful momentum in march and april after omicron headwinds in the beginning of the year and said that can bes urban shake shacks grew 19% with same store sales over last year the company said it took price in march and said it is about 6% to 7% higher in terps of menu prices over last year but that does not include delivery prem yums which we know are getting more expensive back over to you. >> thank you very much let's trade shake shack. to you, tim. kate mention the down 60% in four months an the stock has lost half of the value from

kate rogers breaks it down kate >> reporter: good morning.nersconfident,e sure a recession is on the way the index for q2 found 8 in 10 owners expect a recession in 2022 6% say the economy is excellent. 44% say it is poor a third say it is fair there is a political divide with more republicans than democrats are confident things will turn for the worse. as for the top issue on main street inflation. a key issue for nearly 4 in 10 small business owners. fewer are raising prices 17% say now is a good time for businesses to raise prices with 1/3 saying it is a bad time to hike. likely a time to lose customers when everyone is paying more for everything confidence is at an all-time low. we will have more on the small business playbook event this afternoon. tune in for that back to you. >>> kate, thank you very much. in the meantime, mastercard is out with new data. the april spending report measures in store and online sales. mastercard says retail sales are steady and up 7.2% year over year joining us with more on this is steve sedof. he is the