. >> it's hvac and water f filtration >> hvac is the key to the market >>> when we come back, laxmanarasimhan don't go anywhere. in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there. morikawa on 18. cla - cpas, consultants, and wealth advisors. he is really boxed in here. -not a good spot. off the comcast business van. into the vending area. oh, not the fries! where's the ball? -anybody see it? oh wait, there it is! -back into play and... aw no, it's in the water. wait a minute... -alligator. are you kidding me? you got to be kidding me. rolling towards the cup, and it's in the hole! what an impossible shot brought to you by comcast business. how's the chicken? the prawns are delicious. oh, i have a shellfish allergy. one prawn. very good. did i say chicken wrong? tired of people not listening to what you want? it's truffle season! ah that's okay... ne

melody hobson picked laxman.his is not going to be something that i regard as being revolutionary, because if the chairman of the board, melody hobson, is for laxman, than howard's great to be able to put some heat on it, but it ends there. and i can't imagine that the chairperson would do anything to make it so that howard's comments would do more than just be read. >> it is feeding the discussion, though, that we heard from mcdonald's and mondelez and lamb wesson and kraft heinz. >> howard did not key on expensive, other than one of the things he's upset about is that nobody on the board understands the inner workings of the company. there's no retail operator or merchant that howard has the respect of with the intimate knowledge and the complexity, including china, 82 countries, 100 million customers, so i know that howard would like to have someone on the board that has that. rich allison was at domino's. there's a person that has some worldwide retail experience. andy campion, from nike, has a terrific knowl

. >> you'll hear more from laxman narasimhan when he joins cnbc later today. >>> super micro revenue0%. the stock is still up compared to the s&p's 6% gain. >>> and caesars missed earnings expectations largely because of bad luck. the house didn't win at the tables in vegas and hit the line hard. bad weather, adele canceled. ceo tom regooeg called it a repeated butt kicking but consumer spending is healthy. they booked through 98% through june and online sports betting and digital games is up 19% over last year, and there was some indication because of reduction in capex spending, there could be buybacks in the company's future. >> our contessa brewer. thank you very much. >>> it's also time for a check of some of these top morning stories. silvana henao is with us. good morning to you. >> hey, frank, good morning. a big ipo is set to sale down wall street. viking holdings, shares up. the officering was upsides twice because of strong demand. the cruise operator raising $1.5 billion, making it the second largest ipo this year. shares will trade on the new york stock exchange under th

. >> well, laxman, the speed of service is real. that's a fanciful statement.s the exact opposite of what is happening and i don't know how you can say it on our air. >> jim, the facts are, we have improved speed of service quarter over quarter if you look at how the processes that we're rolling out, particularly around peak, what we are finding is that we have options to improve that even further with changes in processes and tools that we provide to our partners at peak. >> but you said that people are using the mobile app, and they are not able to get what they want because they can't. it's too slow. i think your throughput is awful, sir and i do not understand how you can say service is good and also say at the same time that throughput is awful. >> starbucks chief, laxman narasimhan, with us yesterday. company shares coming off their worst post-earnings daily decline in about a quarter century. >> look, i'm not saying i'm some expert just because i owned restaurants for 12 years or that i was in this business a long time ago, but there is a -- there are me

. >> you bet it is >> laxman is definitely feeling that he's, like, oh, really glad i didn't get thenly threw a pen at me, not a phone. >> the forecasts are the forecasts. >> and the forecasts call for pain >> i had him on last night i thought he was great, nikesh the stock is down. absolutely nothing wrong the stock is down big. >> who was on yesterday? who are you talking about? >> i'm just looking at stock that are down big where there's nothing. >> although, you also had steve huffman on interesting corner of reddit >> that's a great story. you have an acceleration of reddit users you have people who are discovering this is a way to be able to -- what he calls not age out. i mean, if you look at snap, which had a good quarter, the people who look good on snap, they age out eventually, you don't want to continue that. you don't want to stick with them but reddit has a core group of people between 18 to 25, and they just gain in terms of the adherence of reddit. i thought that was a terrific story. if we were in a down beat mode, i would say reddit would be up 6 or 7 >> it's not 14

starbucks note add pullback in its occasional customer with ceo laxman narasimhan telling analysts, "ut where and how they choose to spend their money. according to bank of america, the number of mentions of the low-income consumer are at their highest levels in two years in this earnings cycle as companies see more price sensitivity but there have been some exceptions in the restaurant sector chipotle, wing stop, dutch bros, all posting strong same-store sales numbers. chipotle is noting it was seeing growth in all income cohorts, which is a rarity in this environment. outside of the restaurants, customers are also still spending on experiences. airbnb noted travelers booked many trips to see the solar eclipse, and amc saw people spending at the box office in march. again, they're kind of picking and choosing when they want to treat themselves and what's worth it to spend on in this environment. >> okay, so, outside of the chipotles and those brands who are really hanging in there, how are the brands that are cracking responding to this perceived cracking what are they doing? >> so,

when laxman took over from schultz, $30 billion has disappeared from the value of this company. you'd be hard-pressed to find that kind of shift in anything but a technology company. it's hard to understand how much of this is an indication of what's going on in the broader economy and consumers stepping down from one product to another. we saw what was going on with mcdonald's. >> it didn't happen with chipotle. they've been able to -- >> chipotle levitates above everything. we're talking about inflation. i would argue to you that part of the problem as starbucks is they actually raised prices too high. remember when everyone said we've got to raise prices, the prices now -- i don't know how you feel about it. they were always high. >> they didn't need to raise it. >> no, i think they did need to raise them at some point. the question is did they raise them too high and what do you u do to keep up this kind of growth? i think there's going to be a big test for lax man to figure out what's next. he talked about a lot of opportunities both in terms of trying to get more afternoon