kraft heinz's saving grace is cheez whiz what else? take two interactive has pricing power. their newest game red dead redemption 2 raked in $725 million this past weekend, which is the second biggest launch in video game history right after take two's last major title. but kimberly-clark is having trouble taking price in its diaper business. the company is being beaten to a pulp, pun intended, by private label diapers, especially in china. so take two's got it, and then, boom, kimberly does ntsds. the latest quarter from starbucks this morning, it reveals they can take price. in fact the price of coffee seems pretty elastic in this company. that's a big reason why the stock is flying. had a big move today i think starbucks even after this day has a lot more room to run. then there's facebook. for all the sturm and drang about the ridiculously bad behavior management has, facebook has pricing power because it reaches a key demographic. they want to get you while you're still young and impressionable, which is something newspapers and magazines don't really offer anymore. how

here is the three month picture of kraft-heinz. it has fallen precipitously from the 60s.-dollar buyback, berkshire double quarterly profits it announced last saturday, what does it say about the economy and more interestingly the benefit of what to buy, what is overvalued? dennis gartman, publisher of the daily gartman letter. what is your takeaway of warren buffett spending a nearly a billion dollars buying back his own stock because he probably doesn't see much out there? >> i was surprised as many people were he railed against insider buying, buying back of company's own stock for years and years. it is something i was very surprised when i read it over the weekend. it is indicative mr. buffett is saying that there is no place he can go to find value. suggesting a peak in stock prices but not a buying opportunity. i was surprised and many were also. connell: the -- liz: the stoke is at $327,000 because it has not split. he won't split. disinclined to pay a dividend. he says take the cash pile to buy other things. what is overvalued that buffett says it overvalued? >> t

kraft heinz downgraded to negative from neutral at the analyst citing less confidence is management pan downare downward earning rns are likely. the price target $47. the stock fell 9% to $50.73. and miebl kors was upgraded to boy at ubs the company cited the strong brands. provides target $80. the stock rose 5%o 58.29. >>> still ahead, help wanted. the construction industry isg. boomin but where are all of the builders? t >> construction industry added 30,000 jobs last month. biggest one of th drivers of that strong employment report. but even with the latest gains, the industry is still facing thousandstages with of positions left unfilled. kateer r is in baltimore for us toght. >> reporter: the construction industry isbooming, adding some 330,000 jobs this year alone. but experts say there are still nearly half a million open jobs waiting to be filled. these big numbers mean bigs opportunitie for baltimore'sge eu jouers after completing a local program called project jump start training and placing baltimore residents in construction jobs, jouers works in a job he enjoys that pays we

worst, kraft heinz has $3 billion in debt due this year and they repaid it by borrowing more money and the future will get increasingly expensive if the interest rates keep rising and we're seeing a shift away from core products in center of the aisle of the supermarket. that's where the millennials don't go natural, organic, the stuff is not. the bottom line, there is no such thing as a large dividend you can take for granted just like we saw with bud and g.e., a hideous balance sheet and slowing fundamentals are a toxic grow burrough that can put your dividend in danger. if you want income, watch for that, or you might just get burned let's take questions. >> hello i'm private first class toni walker from lakehurst, new jersey >> i hope you enjoyed the show my friend stephanie link said she had a great time. >> my husband is a former apache instructor pilot and when he retired, i joined the army, and i joined at 40 so we did a shift change. >> that's fantastic. thank you, both. >> thanks for your support [ applause ] >> so my question is this. about two years ago tried to wean myself

before then we will also get earnings from everyone from starbucks to the new york times company to kraft heinzerest to investors because the company has already warned that rising trade tensions could hurt its bottom line. the maker of everything from hobnobs to walkers crisps to oreos to ketchup has said that rising input costs in addition to those tariffs could hurt its profitability. it has already said it plans to sell off some of its india business so investors will be curious to see what the company's plans are going forward to try and mitigate these rising trade risks. that is came in new york. joining us isjeremy stretch, head of currency strategy at cibc world markets. quite a lot going on. let's talk about the pound. give us your take on thejump on reports of about the pound. give us your take on the jump on reports of a breakthrough. we have had two reports of potential breakthroughs in the last 24 hours, both of which have provided stimulus to stirling. one was the letter from the brexit secretary regarding a deal being done. now we have this times newspaper report regarding a deal

earnings also weighing on kraft heinz. a tough quarter. on to oil, the five days for oil, falls every single day this week. also down for four straight weeks. if you look at the performance on a weekly basis throughout 2018, you are seeing weeks of declines outweigh the number of weeks with gains. david: thank you, emma chandra. four days until the midterm elections. we talked to a democrat and partyican about what each is counting on to make the difference. this is bloomberg. ♪ e. this is bloomberg. ♪ david: it is balance of power on bloomberg television. i'm david westin. mark crumpton has first word news. secretary of state mike pompeo says eight governments will get temporary waivers from u.s. sanctions on the import of iranian crude but no european union nations are among them. the countries receiving exemptions have said they will move toward reducing oil imports from iran to zero. treasury secretary steven mnuchin says the u.s. is intent on stopping global funds from coppers.nto tehran's the sanctions go back into effect monday. the

kraft heinz having a majorly difficult day in the s&p, dow 9%. some good stories out there.this is bloomberg. ♪ >> from bloomberg world headquarters in new york, i'm david westin. this is where the world of politics meets the world of business. carl riccadonna on continuing jobs and weight growth. from washington, president trump's willingness to move on trade disputes. and tina davis on reports of relief coming for some countries on those iran sanctions. let's start with carl riccadonna and those jobs numbers. better than expected, you say not to overreact. >> we have to the october gains in context of what happened in september as well. september was revised lower. we can see there was definitely a hurricane impact in a data in september and also october. october was a payback from hurricane florence, also a negative impact from hurricane matthew. we are hearing a lot of noise, we have to take a step back and look at a broader trend. when we do that, we can see an economy that looks pretty decent, pretty

, i like it just fine let's go to lionel in california >> caller: let's put some gray poupon on kraft heinzercent net margins, 50% off its high what is not to love? >> besides the fact there is no growth whatsoever. if you want to hope that they somehow manage to get some growth, you can buy it but if i want no growth, i want safety and i want a bond how about elaine in california elaine >> caller: hi, jim i wanted to talk to you about chico's? >> don't ask about chico's that was a horrible quarter. obviously there's sears and jcpenney, but it was a bad call. i don't want you in that, okay let's go to mikey in new york. mikey! >> caller: cramer, what's going on go, birds. >> go, birds >> caller: the company i wanted to ask you about, the brazilian payment companies. i want to know your opinion on how you think they'll perform in the short term >> i don't know stoneco, i know p paypal, i know mastercard, i know visa, i know global i don't know that one. i'll have to come back let's go to dave in california dave >> caller: hey, jim, you have the nicest staff in the world. >> the best. the bes

. >>> shares of kraft heinz are under pressure earnings missing forecasts rising commodity costs andricing promotions overshadowed higher than expected sales it's down 6%. >>> shake shack's earnings beat forecasts but same-store sales fell shy of estimates. it's down 3.3% >>> we are also watching shares of caesars, the casino is on the hunt for a new chief executive contessa brewer has more on that >>> caesars entertainment ceo mark frissora is leaving the company. it's been more than a year since it has emerged and the improved margins has it still facing the same challenges in la las vegas, slow group bookings and a slower event calendar it is off nearly 25% year-to-date and it is the target of speculation about a takeover caesars confirmed yesterday it has rejected a proposal from tillman fritita. it missed on revenue, lifted the outlook for las vegas in the fourth quarter with improvement in group bookings into 2019. the stock is up 10%, almost 11%. his contract ends in february. >> contessa, thank you very much for that see you later in the toe. >>> looking at the day ahead, we'

. >>> kraft heinz sales are hurt by rising costs and costs of promotions. stay on the markets. john lynch. lpl chief investment strategist. looks like we have a november rebound. will it hold for the whole month? >> stuart, good morning. thank you for having me on. we had a nice day, tuesday, wednesday and thursday, rather, looks like we're giving up some of the gains. we have seasonal trends behind us. first quarter second quarter, third quarter, tend to be the three strongest quarters of the 16 quarter presidential cycle. we have a tailwind. people are concerned about tuesday and tech revenue growth. we need investors need to focus on solid gdp growth domestically. 3% globally. and profit growth. stuart: nail this down, item by item? are we getting a rebound in november? >> i think we will get a rebound in november. stuart: okay. >> you look what's happened over the last four or five months. the administration decided not to fight a multifront trade war. we saw gains of seven or 8% in the market. s&p 500 in the third quarter, up fortunately as concerns ov

and kraft heinz bottle half empty today, shares hitting a new record low rounding out the bottom of thefter the consumer staple giant failed to deliver on projections. those shares down nearly 10%. one consumer name shining at this hour, elmer glue, one of the big winners after raising its outlook. third quarter earnings soaring past expectations and increased sales across all business segments. shares on track for their best day since february. they are up 16% at this hour. could the era of the iphone be on its last leg? liz is cutting to the core of apple's decision to keep its iphone sales under wrap, next. a business owner always goes beyond what people expect. that's why we built the nation's largest gig-speed network along with complete reliability. then went beyond. beyond clumsy dials-in's and pins. to one-touch conference calls. beyond traditional tv. to tv on any device. beyond low-res surveillance video. to crystal clear hd video monitoring from anywhere. gig-fueled apps that exceed expectations. comcast business. beyond fast. i just got my ancestrydna results: 74% italian. a

about the opportunity to improve operations as well as a potential combination with a company like kraft/heinz the stock is no longer pricing in the potential for a combination there. the boards are more receptive. he believes that opportunity has since passed and so they decided to exit the mondelez investment, that the company does well, and was tied up in that investment. >> we'll be back with you in a little bit to another stock it plays andrew right into the conversation of tech names that have gotten crushed and that is snap it's down 46.5% over three months i would expect you to say i'm short because this, that, and the other thing and you're actually long. how? why? >> i can't help myself >> make the case for snap. >> going back to the facebook and going back to shopping on facebook and commerce on facebook, and i just wish evan spiegel didn't say he's going to stay private before that i thought it was a no-brainer purchase for amazon to go ahead and incorporate. you have 180 million new customers. you put yourself in right there. integrate the visual search and the visual commerce tha

for 60% of the downward movement in the nasdaq you had others as well among the biggest movers kraft heinzstarbucks with a new high today as it was fairly chipper there >> seems they are doing well >> for 8 bucks what do you expect >>> cud low shooting an interview right here on cnbc >> we are doing a normal routine run through of things we have already put together and normal preparation. there is no huge thing we are not on the cusp of a deal >> i spoke with him yesterday. they very much want to make a deal i think it will be a very fair deal for everybody it will be a good deal for the united states. >> joining us now to discuss today's volatile is russ how are the -- how long it will last given sort of volatile comments that move from the white house. >> i am not under the assumption in a matter of days. i think it will be a prolonged issue. when you layer on tighter conditions it isn't a mystery why it is picked up in the back half of the year >> so what do you expect do you expect more of the same then will it be a volatile next couple of months or will it take that back off of the t

cookie and crackers business. .e are seeing a reaction among the companies eyeing this business, kraft heinzuld see a bit of a reaction there in cpd. this is bloomberg. >> it is time for social climbers. the stocks making waves on social media today. you can find all the names on bsp go. and after missing fourth-quarter forecast, the company has missed since october. you have games including call of gamerslling short while were underwhelmed with the release of diablo. >> two of the world's most valuable companies striking a deal. , butn will begin selling you will see both companies stocks moving lower in my with the broader market. , strongne shopping sales of u.s. goods despite a trade war. event next week. >> thank you. in june of 2019 court tv will spin out the dow dupont as a standalone agricultural company. recently withwn ed hammond and highlighted the growing role. >> when i think about what we're doing in yields, back in the 1940's and 50's the science was about breeding. we learned about hybridization, to create more yield. we got into the 70's and 80's and it was about biotechnolo

. >> kraft heinz plunging after hours on the earnings miss the company beat the wall street revenue forecastcountries ars are spiking after the company beat estimates. and announced the ceo will be leaving the company in february. we should mention apple shares trading lower heading into the conference call this hour. >> the big question is whether other big techs take it as an excuse to back off a bit even though there is no good read through from apple to the others it seems like a knee yerk to say we had a great three-tai run maybe this is the excuse to step back a little bit. >> well it could be to have with the price weighted index on the dow tomorrow we find out. >> we have a report report. >> let's not forget. >> big changes with wages. >> that does it for the "closing bell" on thursday. >> "fast money" begins right now. >> "fast money" starts now live from the nasdaq market sight the over look times square . the traders on the desk here ton on fast, stocks soaring again tonight. and a top strategist has a monster rally is coming. he is here to tell you why he is so excited another bi

kraft heinz disappoints. cramer had words for them today. >> he certainly did.ns well below anticipated. very difficult time in terms of getting it right for the taste of the emerging generation >> there are some success stories in the script. >> i want to keep landing. >> i think at this point you have to say it is an individual company story, right >> blame them. >> blame them and not the overall weakness in food that's been troubling all these companies. some are doing a better job than others, turning it around, creating enthusiasm for the brand. i point to procter & gamble and coca-cola that had good quarters >> the whole execution debate applies to texas instruments and semis, 3m and macro. fighting it out whether they're doing it wrong or are in the wrong environment. >> they rely on acquisitions we talked about it a long time after the unilever deal, as opposed to what you're talking about. >> trying to grow again. >> awesome sales growth. worst performing food stock. as we head to break, and that's for the year look at the market s&p 500 dipping into ne

. >> really weak >> look at kraft/heinz. >> the sales for is back up, the value in the stock. >> we haveminutes left in trade, as we mentioned, before those individual stock movers were up over 2% on the dow, s&p just shy of that, and the nasdaq leads the charge up 2.5% much more on the fed-driven rally. and why one adviser think the fed should hold off raising rates in december. >> and with so many factors influencing the economy, what matters most to big corporation? you'll hear from the chairman of royal dutch shell and also former board member of bank of america and ceo of dupont. chad hliolday will join us next on "closing bell." free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪ welcome to emirates

. >>> shares of kraft heinz are under pressure earnings missing forecasts rising commodity costs andricing promotions overshadowed higher than expected sales that stock is off by 7.5%. >>> shake shack's earnings beat forecasts but same-store sales fell shy of estimates. the chain is raising its revenue outlook for the year, but that was also lower than expected it's down 3.3% >>> u.s. equity futures this morning, it's all about trade with china, potentially a deal on the way also waiting for the jobs report dow futures up right now 212 points over the last three trading days the dow pulled together more than 900 points of gains we're on friday for the best month for the major averages since march, with the s&p up 18 points the nasdaq indicated up 14 >> talking about china, one of the big topics at yesterday's deal book kconference was about the trade war with china we heard about the impact of tariffs on the economy and their businesses >> i think we'll be more honest in the conversation about china. and i think when we have an incredibly unbalanced trade regime >> it's a good place

citigroup disappearing and netflix, $63 billion in lost market value it means it's roughly the size of kraft heinzd. these are the real momentum drivers because of a value perspective. but check out some of these momentums. $945 billion lost market value check out these names. nvidia, 51% down align, 49% down. square, 38% down salesforce, 25% down adobe, 21% these momentum stocks also feeling the pain we'll see if those go on shopping lists for investors any time soon. back over to you >> stop! if we just don't talk about it, wouldn't it be better, dom >> whistling past. >> one after another you just kept piling on stop >> i would take -- maybe the ostrich approach is the right way. bury our head in the sand. >> we're on a need to know basis. we need to know. what you say about nvidia? >> they've lost 50% of its market value since its highs half its market value gone this was one of the top performers overall in the last two to three years >> remember when intel lost all its market value >> think how you feel at nvidia as a shareholder it reminds me of the old wildwood of sports >>> joining us now