levi strauss is a complicated story tonight.hing very special going on. the best part of the business is the white-hot free people brand. it will soon supplant the urban out that is brand. you have to be optimistic about this new nully subscription service. if it's the taste of the new frugality that i talked about. by the way, when i was with my daughter in montana last week she dressed almost entirely in that outfit. maybe that is somewhat antidotal, but i like to point it out anyway. the only bad part of the urban outfitters store is urban outfitters. it might be time for the change of a name. maybe they should call the company free people. maybe they should call it anthropology or how about this fp&a? how about philadelphia fashion company? i like that. either way the magic -- they are not happy with the performance of urban outfitters. right now urban outfitter -- the bottom line right now free people has quietly become one of the better stories in all of retail. in less than 12 times earnings i think the stock deserves a l

if you have a beyonce levi strauss on top of the hottest trend in apparel, this should have been levi'scult transition where they aren't in control of their own destiny. these transitions are never easy, and it's got this dockers division that disappointed and hurt the quarter. what happens after the direct to consumer pivot? what if they just decide to get rid of dockers the way that ralph lauren sold club monaco? what if the guidance, which hurt so badly, turns out to be conservative? the company did raise its dividend by 8%, which is a sign of confidence. before you sell something based mostly on the forecast and the incredibly high estimates that were almost impossible to beat, you have to believe that nothing can go right going forward if you're going to sell levi's down more than 15%. i think that's a sucker's bet, especially because this is the best denim cycle i have ever seen, and i have seen a bunch. don't abandon the best of breed in this early stages of this kind of cycle. we often see stocks just go higher on earnings, but they get reined in by management trying to be prude

levi strauss shares also dropping the most on record after quarterly record below estimates. sales in the americas were strong but fell short of expectations in europe and asia. the company reaffirmed its full-year outlook. outside of market moves today, big news around the sec. earlier today, the u.s. supreme court current regulator's ability to current complaints before in-house judges, saying defendants have a right to make a case to a federal jury. also saying the sec is growing concerned about the private credit valuations out there per the commission's top enforcement officials. greg stohr and john sage are covering these stories and join me now. a lot of news coming out of the supreme court. explain the significance of this sec decision in particular. greg: it means the sec can no longer take cases when it accuses somebody off route and seeks damages, cannot go before one of its in-house judges. the sec already scaled back doing that because this and other court decisions were the handwriting on the mall. it will reduce the sec's ability to reduce its leverage to get b

also former interim mayor mark farrell, levi strauss heir daniel lurie, and supervisors aaron peskin and asha safai. now, this will be their second debate. it's going to take place at 730 tonight at uc law san francisco. meanwhile some ground rules, they've been laid and set for the first debate between president biden and former president trump. it's going to take place june 27th in atlanta. each has agreed to have their microphones muted when the others turn to speak. now, there will be no studio audience and there is no pre-written notes or props allowed on stage. san jose police they are searching for the people behind a dangerous sideshow saturday night. this is near santana row, which left one onlooker and a police officer injured. saturday, just before 7 p.m, the department got reports of a sideshow going on just outside of santana row shopping center. this is where someone watching was hit by a sideshow car. police there in san jose say that a reserve officer went to help that injured person. but right here you see, they couldn't get there because the patrol car was overrun b

former interim mayor mark farrell, supervisor supervisors aaron peskin and asha safai, and levi strausseir daniel lurie. they each touted their leadership skills. these guys have one thing in common they want us to feel bad about san francisco. they want to take us backwards. we are in a tough spot right now and we need a change of leadership in city hall. i've proven how accountable leadership can get big things done for our city, and i have a unifying vision and track record of bringing people together across political divides. i've demonstrated again and again the absolute independence to stand up to wealthy, special interests. voters don't have to wait long for the next debate. it takes place next monday night at uc law school. november election still five months away. we'll be tracking every race on air and online. you can find more info on our elections web page. you can point your smartphone camera at that qr code on the center of your screen. mission is expanding sanctions against russia while signing a new security deal with ukraine. now, this comes as the g7 leaders they're ga

current san francisco mayor london breed, former interim mayor mark farrell, levi strauss heir danielie, and supervisors aaron peskin and asha safai taking the stage tonight before a sold out crowd at the sydney goldstein theater to make their case for becoming the next mayor of san francisco. these guys have one thing in common they want us to feel bad about san francisco. they want to take us backwards. we are in a tough spot right now, and we need a change of leadership in city hall. i've proven how accountable leadership can get big things done for our city now have a unifying vision and track record of bringing people together across political divides. i've demonstrated again and again the absolute independence to stand up to wealthy, special interests, each candidate explaining how they would reinvigorate downtown. just last month, end of april, i put forward legislation that would allow us to create a downtown public education district. we need certainty in our zoning so that businesses know what they're getting into, both small and large. i just passed legislation to make it m

part in the debate include current san francisco mayor london breed, former mayor mark farrell, levi strauss, heir daniel lurie, and supervisors aaron peskin and asha safai. now, each candidate will get a chance to lay out their vision for san francisco if they are mayor, discussing issues such as crime, homelessness and the local economy, as well as many more big ticket items. now, we did get a chance to speak to a few of those candidates before the debate. here's what they had to say. the problem is city hall has lost its way, and all of a sudden, public safety is the number one issue in the city. the street conditions have never been worse in our local economy has hit the skids. i believe we need a mayor, a new mayor to come in who's going to be a leader who has experience and really a strong vision for the future of san francisco. when you think about the fact that 810 people died from overdose last year in a city that has almost a $16 billion budget, something's wrong. it's not because we don't have the resources. it's a lack of management, leadership and accountability. now organizers

daniel lurie, nonprofit founder and heir to the levi strauss fortune, said he loves opening day at the giants games also perfectly fine, then there was a little bit of a questionable one when mark farrell, former mayor and supervisor, said that his favorite thing to do in san francisco is go to alcatraz, which is a defunct prison, and it's weird to think, hey, kids, let's go to the prison and have a great day multiple times over, okay, okay. >> but josh, i do like going to alcatraz myself. i'm just. it's fine. it's fine. >> hey, no. it's fine. i mean, if you go every week, i think that says something, but then, aaron peskin, supervisor, said that actually he likes to swim back and forth from alcatraz, which was kind of a flex, but we also have a photo of aaron peskin in a swim cap, and it's not necessarily the flex you might expect, okay. that's the first one. let's go to the other one, which is if they could wave a wand, what is the one thing they'd change about san francisco, again, a really reasonable answer was, daniel lurie. actually, daniel lurie said he fixed the schools. people

at the same time i think that a strong number play change the nvidia setup levi strauss rots, and what a run it's had, with the ceo michelle goss turns it into a revival. david faber often stalks about jeffries financial as an important indicator. i think that jeffries will deliver a good quarter, but i'm also concerned about the results of the stress test we get the results at 4:30 p.m., and i'm always concerned that one or two big banking will be viewed as vulnerable that may steal some thunder even if we get clean bills of health later on also, we've got to find out if the federal government is finally buying all the drones they can it's been incredibly slow, with the pentagon -- that's not the wave, though i think ava is a better way. on thursday we convene the monthly investment meeting we'll discuss the travel trust positions. we also, of course, this is also going to initiate a new name, which i think is very important. that means we'll buy something for the trust on the call, plus a second-half look thursday morning there should be fireworks, as walgreens report maybe the ceo h

. >> looking at levi strauss shares. nassau -- that stock is falling. first estimates of about 1.5 billion. they reaffirmed their year forecast. they still seeing that revenue up 1% to 3%. overwhelming, nonetheless. although levi's growth looks ok, wall street was expecting more, given the current popularity of denim. i did not know it ever went out of style. levi's was up when the sale shrunk. most on record. katie: it was popular before. but tell me about blackberry, another blast from the past. >> most people knew it from before everyone had phones. it has now transferred into a software company out of canada. the stock is up by more than 14%. the revenue was at $144 million. it was versus estimates of 135 million. blackberry had a solid start to the new financial year. we also saw an upgrade to perform -- outperform from neutral. overall, a turnaround story on this blast from the past. >> it is incredible how high the expectations are for so many of these chip stocks. we see the stock moving down so much. as much as 6% after the sales forecast fell s

levi strauss taking 16% after q2 revenue came in light.sumers generally cautious and aren't spending a lot on discretionary items. ret retailer, though, hiked dividend by 8%. first increase in six quarters. >> priippa, appreciate it. >>> just getting started. a rough year so far chewy down double digits. kevin mccarthy owns that stock and telling us, results after the break. live in our global headquarters today and you're watching "closing bell" on cnbc. at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. awkward question... is there going to be anything left... —left over? —yeah. oh, absolutely. (inner monologue) my kids don't know what they want. you know who knows what she wants? me! i want a massage, in amalfi, from someone named giancarlo. and i didn't live in that shoebox for years. not just— with empower, we get all of our financial questions answered. so

her response to art to a levi strauss ad campaign that used her town is a setting for urban pioneers. it featured a tagline that led goforth. -- that led goforth. frazier asked goforth where? what is interested in that as a citizen. ways we are able to show for other people. especially people who may not be able to give us anything in return. >> if one wants to explore those issues in our culture and society and politics, there are different ways to do it. why is the camera your way in? >> that's how i got my start. i view myself at this point as someone who is living a life of purpose that has chosen to live my life, taking my creative gifts in service to the industrial heartland of america. that is where i am born and raised from. i actually witnessed how people were forgotten and became invisible and people weren't telling the stories anymore. >> another series, flint is family reacts centered on the water crisis in flint michigan that began in 2014 and its impact on specific individuals. notably shay cobb and her daughter, zion. it is told through photographs, text written by resi

levi strauss fell short of market expectations for the second quarter revenue. sappointing data caused shares of the san francisco based denim company to decline 12% in extended trading. levi's says its docker brand underperformed in the quarter, hurting its bottom line, and its u.s. wholesale revenue was also down. the company is now pivoting to a direct to consumer business. shares of amazon increased nearly 4% today, topping $2 billion in market value for the first time. the company joins alphabet, microsoft, apple and nvidia, all of which have valuations of at least $2 trillion. shares of amazon have surged roughly 27% so far this year, partly driven by enthusiasm for the company's investments into artificial intelligence on wall street. the dow was slightly in positive territory, the nasdaq having a nice day up more than 87 points, due in part to amazon surge. and the s&p 500 was also in the green. outside of big tech names, the market was mostly sluggish as investors await fresh inflation. data on friday. >> all right, get ready to see a lot of teal in the

london breed, former interim mayor mark farrell, supervisors aaron peskin and aisha assaf, and levi straussniel lurie, each touting their leadership skills. these guys have one thing in common they want us to feel bad about san francisco. they want to take us backwards. we are in a tough spot right now and we need a change of leadership in city hall. i've proven how accountable leadership can get big things done for our city now have a unifying vision and track record of bringing people together across political divides. i've demonstrated again and again the absolute independence to stand up to wealthy, special interests. voters don't have to wait long for the next debate. it takes place next monday night at uc law school. 626 for you now with pandas soon set to arrive in san diego, washington, dc, and even in san francisco, one group is leading the effort in getting them here from china. the journey always begins at the state animal sanctuary and breeding center in china. it's home to more than 2000 pandas research teams there work to breed, raise, protect and study the animals, and they a

also former interim mayor mark farrell, levi strauss, heir daniel lurie and supervisors aaron peskin and asha safai. this is their second debate takes place at 730 tonight at the uc law school. meantime some ground rules have been set for the first debate between president biden and former president trump. this will take place june 27th in atlanta. each has agreed to have their microphone muted when it's the other person's time to talk, there will not be a studio audience and no pre-written notes or props will be allowed on stage. well, south bay congressman ro khanna making his stance clear on the war in gaza. he says that he will skip benjamin netanyahu's address to congress next month. israel's prime minister is scheduled to speak before a joint session of congress on july 24th. appearing on nbc's meet the press, he characterized the speech as a one way lecture that will do nothing to further peace. i will not attend. i said that if he wants to come to speak to members of congress about how to end the war and release hostages , i would be fine doing that. but i'm not going to sit

. >> and the nod to levi strauss from san francisco, california. >> yes. that's right, very nice.ht, well, that does it for us. thank you so much for joining us here on the nine. quick reminder. you can now stream ktvu news on your smart tv. you can watch live newscasts and stories on demand on your amazon fire, roku, apple tv, android tv. just scan that qr code on your screen right now. you can also search for the fox local app and then select ktvu. thank you again for joining us. be sure to join us again for our next newscast at noon. sherri shepherd is up next. have a great day. ♪ we're gonna have a real good time ♪ ♪ feel good time ♪ ♪ spreading love and joy and laughter all over the place ♪ ♪ we're gonna have a good time ♪ ♪ we're gonna have a good time ♪ ♪ it will be so legendary ♪ ♪ sherri's got you feeling good ♪ >> announcer: and now your host,

as for also former interim mayor mark farrell, levi strauss heir danielle lurie, as well as supervisoreskin and ahsha safai. now, this is their second debate. it's going to take place at 730 tonight over at uc law school. meanwhile, some ground rules have been set. the first debate between president biden and former president trump. it's going to take place june 27th in atlanta. each has agreed to have their microphone muted when it's the other's person's turn to speak, they will not be a studio audience. no pre-written, pre-written notes or props will be allowed on that stage. also new at six, a trial date has been set for wall street journal reporter accused by russia of spying. the russian authorities arrested evan gershkovitch last year. he's accused of gathering secret information on orders of the cia. but the us government, the wall street journal, denied those allegations. his trial will happen behind closed doors july 26th. so that's about a week from now. south bay congressman ro khanna making his stance clear on the war in gaza. he says he'll skip benjamin netanyahu's address

london breed, former interim mayor mark farrell, supervisors aaron peskin and asha safai, and levi strauss heir daniel lurie, who each touted their leadership skills. these guys have one thing in common they want us to feel bad about san francisco. they want to take us backwards. we are in a tough spot right now and we need a change of leadership in city hall. i've proven how accountable leadership can get big things done for our city now have a unifying vision and track record of bringing people together across political divides. i've demonstrated again and again the absolute independence to stand up to wealthy special interests. well, voters don't have to wait long for the next debate. it takes place next monday at uc law school. first lady jill biden will be in the bay area tonight. she's flying from minnesota to mountain view this evening. just after seven. doctor biden is here to attend a campaign fundraiser in los gatos tomorrow. she'll then head to reno, nevada, to continue the fundraising. the first lady was just in the bay area last month, along with president biden, both on the c

but no matter what the facts are candidate and levi strauss era daniel lurie says people don't feel safe. city hall insiders that are on a stage may have built up a broken and effective and corrupt city hall bureaucracy. >>and with the drug epidemic and 3,000 overdoses since 2020 candidates also targeted breeds administration sf supervisor ahsha safai where folks. >>we are failing us. the city. there is no other issue that defines francisco right now. more than our overdose crisis and sf supervisor. aaron peskin says it's not just a public safety issue, but a public health crisis. we need to stop with the finger pointing and come together around these overdoses around these mental health crises the way we did during covid-19 at the end of the debate, candidates had a chance to shoot questions at each and if you could name 3 lgbtq advisors for your campaign, i'm incredibly proud of so sport that i armor lgbtq+ community here in the san francisco. >>the commotion wasn't just inside as this event was hosted by the san francisco democratic club. other candidates protesting out side saying th

the closing of a major medical center and her response to art to a leavey straws used her -- levi straws. strauss. >> ways we are able to show up for other people and people who may not be able to give us anything in return. >> if one wants to explore those issues in our culture, society and politics. why is the camera your way in? >> that's how i got my start. and that's where i am born and raised from and i always felt and i witnessed how people were forgotten and became invisible and people weren't telling those stories anymore. >> another story, flint is family, centered on the water crisis in flint, michigan and impact on specific individuals. told through photographs, texts written by residents and video which she tells her own story. she said do you drink that water? you see them drinking. my daughter will follow people. she's aware. i hate that she's aware. >> frazier is the artist but her work is a collective approach that empowers people normally seen as subjects. >> getting myself into their lives and social fabric of that community and then that's when we start to make the portraits t

. >>> levi strauss also under pressure this morning, shares down big, down more than 15%.of the jeansmaker falling short of analyst estimates despite a surge in denim popularity. consumers have been generally cautious and not spending a lot on discretionary items. along with raising the dividend for the first time in six quarters, levis is working on its website and reducing reliance on department stores. >>> nike, nike reports its results after the close. you can see right here shares off to a very tough start to 2024, falling -- the blue line, almost as much as the s&p has risen year to date. big divergence there. consumer spending slowdown in rising competition weighing on the stock. estimates have revenue coming in flat year over year with profit increasing by 26%. morgan stanley says it expects the sportswear giant to guide below the street expectation due to lack of clarity in the company's innovation pipeline. they estimate it takes anywhere from 18 to 24 months for nike to bring new products to market. we had a nike investor on "worldwide exchange" who said he's lo