6% weakness in a big up day >> you just want to get a kirkland plug in i know you do. >> i like kraft heinz ketchup. >> i do, too >> i don't necessarily trade down for ketchup >> same. >> that's the one thing i will stick to >> i agree this is the one thing i always buy. >> and kraft mac and cheese. i don't think my daughter will eat anything but kraft >> dom, thank you very much. we appreciate it the market is trying to stabilize after an eight-week losing streak. my next guest says inflation not recession remains the biggest risk for investors sticking with large cap dividend paying stocks joining me is the chief investment officer of huntington private bank john, welcome. you think dividend pairs will offer enough inflation protection >> we do we think consistent earnings, dividends will continue to be the way to go. even though we are seeing some growth come up this week, we still think those dividend indexes, kelly, if you think about it, some of the dividend indexes are only down 2% this year that's constructive in the kind of year we're having for stocks. >> what about kraft heinz, o

. >>> kraft heinz, take a look at this one, worst performer in the s&p 500 today. sell to neutral, trimming the price target from 34 to $24 a share and the threat of consumers trading down to private label brands there's also a shift in 3g which would effectively make it easier for 3g insiders to sell their shares putting some additional pressure on here. >> absolutely. really kind of thorough and i think sharp-edged downgrade here or sell rating where they detail exactly why kraft heinz is uniquely disadvantaged in terms of their positioning and product mix. things that are challenged by private label. i'm pointing to the comments by walmart in particular last week of how they're going to treat the pricing in different grocery categories so i don't think really kraft heinz had won the benefit of the doubt the way some other food producers and consumer staples stocks had it's been a little bit of a serial disappointor and probably explains part of this move lower, especially on a day like today when it seems like people want to buy the riskier seeming, more cyclica

this is a bad day for kraft heinz. ubs says khc needs to increase prices this year but that will be unlikely in light of guidance from target and walmart. separately, private equity fund 3g which controlled craft since forming it in a 2015 merger with the help of warren buffett has shifted some ownership to external investors which could then make it easier for 3g partners to sell their stake in kraft heinz. this is a pretty big disaster too. snowflake shares, not so much they are falling 4%, but where they used to be. the plunge came in the early session and by the way, the low, i believe the all-time low was hit this morning at $112 we're at 127 right now, so you know it was really bad earlier. the cloud computing based data companies results missed expectations, snowflake saying some of its customers are now spending less because of an uncertain macroeconomic environment. snowflake, which had the stellar debut two years ago, bringing up buffett again he invested now down more than 60% this year as investors sun fast

charles: it is interesting, because today, i think ubs went to a sell rating on kraft-heinz which isort of the proxy for the staples which is a proxy for the safety of being safe. we're going to see how that plays out. kenny, you mentioned nvidia earlier. let's talk about that. nvidia, splunk, some others got hammered after they reported last night. of course they reversed higher. risk/reward die namings changed in technology. have they changed enough to start loading up or start to build a position? >> i think you have to start to build. nvidia is one of those names, it's a big name, a big money generator, the biggest generator in all of taiwan. they have fingers in everything. everything you touch has something from nvidia i think it has got to the point it is over that. i think the reaction was ridiculous. took the stock down 11 1/2% in the after-hours market. look what has done today, not only taken all that back but up 7 or 8%. i think it is getting to the point where people have to take notice. i own it. it has been painful on the way down. but it feels like it is starting to b

kraft heinz, all what you consider defensive and safe plays even as the economy slows down and apparently not so much and here's where it gets confusing is dollar tree is a consumer staple store or discretionary store. for our purposes, target and walmart are impacting everyone best buy, which is clearly a discretionary and autozone you have to fix your car, but you'd have to consider that a discretionary, too >> remember something about the housing business that was the first industry to downturn in the beginning of january. these stocks are down 25%, 28% including carrier global which is the air-conditioning company and we're seeing another leg down here today. what's the gainers this is curious to me because the gainerses have one thing in common, verizon, con ed, american electric and philip morris are all high dividend payers dividend and rg they all play yields, 3%, 4%, 4.5% and there might be interest in buying high-dividend yields and as where we are in the s&p 500. remember the closing low last thursday it was 39.30, we were essentially sitting on the closing low and that was the

conagra, tyson and kraft-heinz you can see kraft up 2% and those are still nmore than 10% off their recenths >> there you have it back over to you >> thank you very much the world's largest stable coin which is tether is seeing the value of the circulating supply plunge the investors have dropped $84 billion to $73 billion today crypto is meant to be pegged to the u.s. dollar, but it does dip as low as 95 cents on may 12th and after the coin plunged well below its dollar peg and it's led to questions about regulation and risk. joining me is tether and reeve collins. has tether made enough moves in the past few weeks to shore up questions about its soundness? >> well, i think what took place in the last few weeks illustrates how well it functions and the fact that it was almost $12 billion redeemed and it was redeemed at exactly $1 speaks for itself when you mentioned that in the past it dipped down to 95 cents it's not quite accurate. that while on third-party exchanges it traded as low as 95 cents and third-party exchanges are based on supply and demand there's tons of supply and so the p

we have to look for staples, consumer staples are it is first names we turn to, kroger, p & g, kraft heinz jm smucker are down in the past week why? let's bring in rick modi, consumer analyst nick, what's ailing them >> well, look, first of all, the consumer staples sector actually performed well year to date relative to the market and you see the valuations at roughly 20% that's double what the mister cal historical average walmart put a scare in those money managers and the portfolio managers that flooded all of that money into this risk and as we've been saying on the show and for the past few months it's going to get pretty tough for these companies as we get deeper into the year as pricing that they announced because of what they're feeling, and i do think just looking at some of the work that other rbc analysts have done that we could have more issues with inflation in the energy and agricultural side >> so tease that out for us, what does it mean for the potential further downside for the names that you cover >> yeah. so, i think my biggest issue has been a lot of these companies ha

, would go, it is consumer staples, the only sector fractionally in the green on the s&pite now kraft heinzmondelez and kerric dr. pepper also high. moderna having a positive impact on the nasdaq 100 after completing its application for use use for a vaccine for kids ages 6 months old to 6 years old. amgen and gilead also in the green on the nasdaq 100. that's what's kinds of working today. >> we will take kind of working in this kind of market speaking of, is there anything worth picking up at these levels our next guest has a buy rating on amazon, alphabet and apple and recently upgraded netflix to underperform to hold joining us now, needham senior media analyst laura martin why now? i mean, things are headed down why do you think, at least for these stocks, this is a good price? >> you need somewhere to hide. if you are in equities it is a brutal market. we like amazon's monopoly on the 15% wealthiest people on earth they are hitting a record install base every quarter their revenue is rising and they are hitting all-time high margins. as a company, 44% profit margins $28 billion of cas

but also how about kraft heinz apple that be negative net contributor but has well outperformed the indexlities, exxon, american electric power so essentially in the nasdaq 100 looks like it's not really reflecting the degree of carnage in a lot of high growth tech in software, it's because mostly because of non-tech or some telecom in there as well. >> i guess the question is, how much -- how big of a waiting can that possibly get even with tech coming in? >> it can't do all the work. and maybe the defensive sectors aren't going to have much upside left yesterday you saw weakness near the lows in some of the defensive areas. so the big question is, what are the heavy weights likely to do from here? are we still going to have to see valuation, kind of bleed out of them, to sort of, you know, have a full reckoning with how expensive they got and the new growth picture out there the real big question, i see a lot of sort of people doing chart work on this saying, we have so many stocks that have gone back to pre-pandemic levels, can apple really kind of stay, you know, aloft at these levels

these are all down still, but kraft heinz down just 2.8%, pepsico, excell energy, amgen, american electricies. >> are those today? liz: yeah, these are the nasdaq 100 that are off the least over the past year. so what do you think with the meme stock investors who jumped in with the cash they had and they watched their stocks whether it was, you know, amc or gamestop or blackberry going jump jump jump jump and then now they held on. do you think they've learned from losing everything? >> i think i know you want to talk about the long term investor but the whole push for what happened with the meme stocks early on was number one very positive market environment number two they really united against a very specific short. now, when the markets doing well , day traders do very very very well. now, and they had a beautiful run and that was a great series of trade they put on earlier. i don't think the meme stocks relative to what's going on with the real market matter that much and the pain that the day trader s have gone through, if the markets not going up day traders on the whole do very ve

defensive stocks yes, health care and consumer staple stocks, general, kraft heinz, general mills holdingbetter here's the issue, the s&p is down 13% for the year. almost all of the decline in the s&p is because the multiple has contracted what's the multiple? it's the p-e ratio what are you willing to spend for a future stream of earnings estimates that are out there you see it's down 16% and that's why the earnings are down and earnings are up 2% and you add this up and what you get here, courtney, is down 13%. the big worry is whether or not earnings estimates are really going to come down in the next couple of months and obviously, the market is worried that that indeed will happen courtney, back to you. >> it is a sign of the market which is focused on these major macro economic influences and the nasdaq being hit the hardest. down 5%. christina partsinevelos is at the nasdaq i'm noticing almost all these names are lower and even names we don't often talk about like the international names like mercado libre and duoduo >> it's having the worst day since june 2020, but for the second

problems by teaming with microsoft to create a digital twin of the company's facilities online, which kraft heinzblem solve virtually and enable to get its products to get to grocer more quickly. kraft is joining a number of companies. chipotle recently opened a virtual store when customer accounts roll their own burritos. be sure to student in this sunday morning for "state of the union." and u.s. ambassador to the united nations linda th thomas-greenfield. it's on sunday morning. follow us on social media. our coverage continues now with pamela brown who's next door in a place i like to call "the situation room." >>> happening now, breaking news are war-ravaged ukraine is on hifgtened alert, new warnings that russia may increase its attack on monday. >>> fighting rages on in mariupol amid new rescue efforts. president zelenskyy is calling the ongoing blockade a

. >> a downgrade by ubs of kraft-heinz yesterday to sell based on that premise. walmart said about how they are going to deal with things like that >> by the way, you will not get the shelf space. >> private label not a threat to the product. we will see. >>> shares of gap are plunge in in plunging they are seeing surging freight costs and deeper discounts gap sees the profit with between 30 cents and 60 cents a share. estimates at $1.34 the product at old navy is out of sync as shoppers ditch casual wear for other apparel it fell 22%. the gap said a recent push to sell plus sized items resulted in the company not carrying enough of the core sizes for customers. many extended size items that were not purchased this has been a weak stock for a long time. kind of priced for continued decline. >> that is what you are getting today. down 19% >>> check out shares of american eagle. they are slower. earnings fell short. the company ceo called the first quarter challenging with demand below expectation. the pressure it is operating on profit is citing tough comps and ri