at this point, i think kellanova's got much better brands.tiger who is great. bottom line, looking back at these breakups, you've got -- and the water quality company. but as for wk kellogg and kellanova, the best i can say is you should sit these ones out. the sunday kellanova will circle back to , but snack food stocks have gotten the cold shoulder, i do not think we're there yet. let's take calls. let's go to jeffrey in new york. jeffrey? >> caller: hey, jim, it's jeffrey calling from brooklyn, new york. take a particular cult. >> of course, neighbor. what is happening? >> caller: i purchased 25 shares of jm smuckers at 1.31 per share. the stock is virtually at a 52 week low. every single day for the past few weeks, including today. should i buy more? or just hold the position? or sell the position? and if i should buy more, at what price -- >> i cannot count on buying it. the reason i can't is because there visited pay too much for hostess. that's is wisdom of wall street. therefore, i think on a balance, you might want to lighten up. all

the vast majority of that goes with kellanova.t's an important thing to our stock, it's important to the share owners. yes, it remains completely hole. >> congrats. >> thank you. great to be with you in person. >>> let's get some pmis out with rick santelli. >> these are much stronger than i expected. 49.8, 49.8, what it doesn't dismiss, even though it's better than expectations, it still represents 9 out of 10 megtive numbers in a row -- that's the sixth in a row under 50 in contraction mode. however, 49.8 after having said that is still the best since april when it was above 50. it was 50.2. this is also a very important day, if we're getting closer to 50, long-data treasury yields are all on track to make new cycle high yield closes. we want to pay close attention to that. vernaculars were gums hot in treasuries. "squawk on the street" will return after a short break. (♪♪) business can happen virtually anywhere. (♪♪) but there's nothing like being there. at national, you can skip the counter... and choose any car in the aisle..

so, kellanova. >> doesn't work.emember, tim can speak to this, because he actually -- i mean, everybody loved -- >> unless they translated to russian. >> i tell you, that's spicy. that's some spicy stuff. >> it's just not working for me. i love the companies. i don't know -- you know who we should have on here, because we had him on last summer, jim osmond talks about the spinoffs and the volume that's unlocked. clearly, the market didn't like this today. with that said, special k is my cereal of choice and that's a kellogg's brand. >> with the strawberries. >> no, i put my own strawberries in. and nobody cares, i know, the more you know. but the special k with strawberries, the flakes are different, they have to coat them in something. >> they're sweetened. >> no good. you want regular special k and get the freeze-dried strawberries. >> people want snacks, they don't want cereal. >> really? >> yeah, i think that's what the markets -- >> right. >> that's the general thinking. you want to be in snack foods. >> there'

up first is kellanova.parately from the iconec cereal brands and it's one of the biggest laggards of the day down 6% and silvia with defiance etf. what do you think of kellanoef. >> >> hi, tyler. it has trouble on their hands stuck between cereal and snacks. part of this is it's their strongest growing potential business. they're talking about growth in em and they're talking about 13.6 billion in revenue, but 50% of their sales are still in the u.s. the particular sector that they're in is down 9% at the moment. their prices are too high. inflation has given consumers fatigue and i just don't know that the hype is there right now. this is a sell for me. i'm not interested in buying this one. >> the old parent, kellogg is down, as well, i believe. the second biggest loser. >> almost 20% year to date on that one, too. >> real quickly on that, silvia. everyone is saying to buy staples. why is that performing so poorly. is it company specific? >> yeah. i thought about that, too, in terms of defensive plays and

kellogg, this north american cereal company and kellanova for snacks. they're taking it on the chin from the bond market at the same time that retailers like costco are fighting back hard to bring down packaged foods. every day they try to get the prices down. it's starting to work. we have to ask ourselves before we get negative, is anyone immune to the bond market? not really. milk company can be because it's the stock market. everything but gold and crypto, they're all priced off treasuries some way or form. telling us we're not doing enough to beat inflation. it erodes the value of anything paper. after the red hot purchasing number this morning, it's clear that erosion is happening faster than we thought. there's still too much buoyancy in the economy after the rate hikes. you know what, that was terrific, but there's too much money in the coffers, too many people hanging on. landlord needs rent, utility needs capital for the endless capital program. who doesn't need capital? kinds of demands for product that allow them to be escaping from the bond

we see this as are asshaving ne impact, lose hershey, mondelesz and kellanova.-food snacks. we see the companies as not positioned to benefit from this. >> what about the granddaddies of them, pepsi, frito-lay, and coke >> i covered the packaged food companies, i don't cover the beverage companies, but over time, companies will adapt, coke actually made comments on their earnings call yesterday that they're already well positioned to benefit from a shift to less calorie consumption. this was amazing to mow. mounjaro experienced a 71% reduction of lunch intake once taking the medicine. >> the impact is very striking a 70% reduction in calories consumed at lunch. people lost 7% of their body weight, or 15 pounds within six weeks. that's happening because they're eating much fewer calories, and also eating fewer sweets and fast foods we think this will impact purchases for packaged food and how much people order. >> are these drugs rich people drugs? they're high priced. if you don't have good insurance, if you can't write big checks, i don't know how you get it >>

kellanova will run the snacking business. we talked to the ceo earlier today.t down with the chief exec of wk kellogg. that's at the 11:00 a.m. hour. we'll talk about the prospects of cereal. the whole idea is if you put it in a stand-alone business -- cereal has been a declining business, that maybe they'll be able to come up with faster, newer innovations that cater to what the consumers want. >> good discussion. >>> speaking of the consumer, let's get to clorox. stock is down nearly 20% since disclosing that cyberattack back in august. but today da davidson does see some opportunity. they upgrade to buy. the firm says when the company does quantify the financial impact that shares could rally. the analyst behind that call joins us this morning. linda, thank you for the time. great to see you. i was just trying to think about whether or not we've seen a cyberattack have broader impact on one company's operations and, obviously, market cap? >> yes, well at least in my experience, in my sector of consumer products, this has been kind of the most significant cyb

officially branding at kellanova with the -- that's the snack business. the cereal business now known as wk kellogg, becoming a stand-alone company trading at the nyse. the stock down yesterday, continuing the losses today. down about 5%. tough market. here with us at post 9 in a first on krcnbc interview is wk kellogg ceo gary pilnick. he brought a lot of characters from cereals we know. welcome. >> thank you for having me. >> so, you're getting rid of pringles and pop-tarts and just focusing on cereal. what is that going to allow you to do? >> that will allow us to be a stronger company because we're independent. at the end of the day, everything we do is in service to cereal. we we have a strategy to create -- none of the key pillars would have been done put for the spin. now we get to make decisions with a singular focus on what is the best way to invest in and drive the cereal for wk kellogg. >> what does that mean? does it mean innovation, acquisitions? >> it's a combination of five separate businesses. at the kellogg company we had a business in th

kellanova, hershey, kraft heinz new low. just no energy at all in some of the old-school consumer names. also no energy in the ipos yesterday. very disappointing. birkenstock, price is at $46. never really showed its head much above $41 yesterday. as you see down again today, $38.74. that's certainly a disappointment. generally a new crop of ipos have been disappointing. birkenstock down 14% from its ipo price. instacart is down about 17% from its price. klaviyo up about 8%. arm, basically flat, up maybe 1% from its ipo. certainly a disappointment for the markets overall here. i think, guys, you're going to see a lot more hesitancy on some of these names getting pushed out now to 2024. you'll probably hear about that in the next few weeks. guys, back to you. >> bob, we'll talk in a little bit. >>> let's get to some automakers today. the uaw expanding its strike to one of ford's biggest factories. our phil lebeau has been all over that today. hi again, phil. >> hey, carl, when you take a look at the strike and the impact on f

. >> kellogg and kellanova have dropped sharply. kellogg's is down 20%.re investors souring on this split? tim, you were observing the cereal side of the business today. >> yeah, look -- there's no question that there are pressures falling on staples companies. we've outlined it. the correlation to yield-based plays, whether it's utilities or oir things that have had a time time, that's part of it. these are companies that have costs that, i think, are very different than what they had two years ago and they don't have the ability to pass on these prices. i think that klg coming out of that spinoff where it traded down, a 50% hair cut at one point at its low starts to get pret interesting. we talked about it. i think a lot of these companies are cheap relative to their history. i think they can get cheaper, especially when you consider how the move in rates has been. but when you get back to a kraft, a 60% hair cut to its pre-covid average, that company that had its own issues. remember taking it private, bringing it back, and i think you have to be caref

you can look anywhere, conagra, kellanova. the other is the airlines.thing has been cut by a third since the middle of july. delta was are 45 in the middle of july. most of the airlines are down a third since then. you talk about higher fuel costs, we've heard vague concerns maybe consumer travel might be slowing down but we're not hearing that in a big way from the companies themselves. it's just relentless, though. today a little more stable. let's see if we can get a bottom. >> a couple sectors moving up. insurance stocks, progressive missed on earnings, but the one thing that mattered, premiums for the car and home, all much higher. that's what matters. 142 on friday. look at this. 158 today. that's a big, big move. these are low beta stocks. they don't normally move that much. the competitors also moved on this as well. allstate, for example, also moved up. again, premiums, not good news for us, obviously, consumers. other one here, big -- nike, big dow stock. remember what happened to nike, lamenting on going 105, it was, in the middle of august.

kellanova is another one and stifel cut from 71 to 56 as all kinds of crosswinds are swirling aroundtime being, dow down 170. tdi wh m uisp next. kids. college. kids moving back in after college. ♪ here's to getting financially ready for anything! and here's to being single and ready to mingle. who's ready to cha-cha?! ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening. here's why you should switch from chrome to duckduckgo. duckduckgo is a browser you download to your mobile and desktop devices. unlike chrome, the duckduckgo browser has privacy built-in. it comes with a private alternative to google search, which doesn■t spy on your searches, and it b