straight ahead your trades on a few of the earnings, slick slack and lululemon.e. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade. experience our most advanced safety technologyto on our full line vehicles. now at the lexus golden opportunity sales event. lease the 2019 es 350 for $379 a month for 36 months and we'll make your first month payment. experience amazing. >>> let's get for some of the earnings on deck for next week slack is out lululemon on thursday. slack, you own this one. >> slack is not what you'd call an earnings story per se i own the stock. i'm actually hoping they,quote/unquote, disappoint the street if it gets a two handle i'll be buying more of it. this is a very long-term investment for me. i don't think the valuation when it came public was reasonable. i'm dwlad it's falle

lululemon to be overvalued at the current price.the retailers i cover, the ones that are doing better, mostly we consider them overpriced at this point. i also cover a number of apparel manufacturers, most of which have their own retailing. that has been doing mostly well. nike and adidas, they operate a lot of their own stores, have their own direct to consumer e-commerce. the retailers that are doing the best in my opinion are not the mass retailers like kohl's or macy's, but rather the branded retailers that are also the manufacturers selling directly to the consumers. lululemon is one of those companies. shery: what about nordstrom? we have seen they have a very loyal, cultivated customer base. >> nordstrom has been reported a second-quarter yet. obviously, expectations are low because others have her reporting such low numbers. i believe nordstrom has an advantage over others like macy's and kohl's, due to the strength of the brand, customer loyalty. system, wengs believe nordstrom has a stronger customer base. nordstrom also h

>> i couldn't fit into a lululemon. >> that's the point., they're anti-squeezing >> no, man i don't wear pleats. >> you lead a horse to water i can't make you drink, jason. stategis partners. the u.s. equities are not worth talking about. the dow is down about 4, nasdaq down 12. s&p indicated to open a little bit in the red there was some green earlier it got very close to another inversion between the two year and the 10 year and now i think we're just waiting around to see what happens in jackson hole, mostly >> i agree lots going on, steve leishman will join us in a little bit >> he is hung over. >> with esther george. here's what's making headlines, after a big day for retailers yesterday, two more retailers are seeing their stocks rising, nordstrom and l brands saw revenue fall short of expectations nordstrom benefitted and despite an ongoing decline in sales of victoria secret. l. brand maintained the four-year earnings forecast. that was enough to see big pops. l. brands up a more modest 2 and a third percent. president trump's lates

>> e-commerce is a huge driver >> lululemon, when they have a catalog, they want to know whether the catalog is doing well, they can monitor through you? >> lululemon is a customer and when you want to call in to their call center, get help, you're actually going to be routed by five 9 we're going to have all the intelligence that is about connecting you to the right person whether it's on a phone call or on a message or email. we're sort of multi channel or omni channel we have all the ways a customer wants to connect >> in summit, new jersey, we use ex pedia we're not a customer in terms of someone calling up and booking something. we need to speak to someone and we need special service because it's a very important thing. how do we get routed by five 9 versus some other system >> this is a great example actually, jim. take expedia let's say you've called in or sent a message we can gain information about you and we can know information about you based on your caller i.d. so we'll know who you are, we can link that back in to expedia system we understand you are living in this city

45% of prime working age women will be single by 2030 that is up from where we are now a nike and lululemonong the companies that will benefit us single women than single men for that matter to spend more time exercising their married counterparts bloomberg reports that apple has a new set of air pods in the works they would be the first major update to the ear pod since december 2016. the expected improvements would be water resistance and noise cancellation technology. the scent afft the overall per i so the some were more than the current price of a $160 and the fact food spicy chicken sandwich war 2019 getting more intense. no mcdonald's is plotting its entry into the space and does already have a chicken sandwich with a new one would be a spicy barbecue sandwiches will spicy barbecue glaze tenders for to business insider chick-fil-a popeye's windy windy small been trolling each other on twitter this week about who's chicken sandwiches, best live from the nasdaq, i'm jane king back to area. ok, thanks a lot. >>at 7.20 will take a quick break but coming up afterwards, a plane heading fro

let's start with a preview of lululemon.on has it for us. >> reports on thursday and q2 analysts expect 89 on revenues investors ought to be listening for more on the growth they're growing nicely in china and europe, and they said within the men's business they saw comps grow 26% does it continue through q2? also tariffs, we mentioned an impact on the last call and said most of it will hit in q3. do they lower guidance lululemon is up more than 50% on the year and down 3% on the month, it almost closed down today almost 1%. back to you. >> thank you very much for that. sarah has a preview of the jobs report for us. sarah. >> august jobs report out next friday it is one of the big last economic data points released before the fed's september meeting. economists are expecting gains of about 149,000 jobs with the unemployment rate holding steady at 3.7%. july's report came in essentially in line with estimates, 164,000 jobs added. wages topped expectations, growing by 3.2%. a lot of people think that wage number will be import

people an discretion they have is high and the brands that are winning are doing extremely well lululemoneating a new category. i'm not sure that's going to be just them but a lot ahead and the women with more and more buying power and wages continue to grow their discretionary income grows. >> how do you play - >> my daughter works there i think the consumer has done well look at target and others. the haves continue to be the haves. the have nots continue to be the have nots. i think that's the continued trend to the end of the year. >> check the markets now 28 minutes left in the trading session. s&p up .05%. yield curve inverted again briefly and the fifth time in the last week keeping track. stocks pretty much everybody else shrugging it off. weaker than expected manufacturing data raises new worries over the health of the economy and season of retail volatility continues >>> time now to get a cnbc news update with sue herera. >> a united nations spokesperson said they're concerned about the most recent forest fires in the amazon his comments came after brazil's official monotering a

. >> you like -- >> do they have tariff insulation >> so, lululemon's actually one of the first retailerse heard from that already imbedded into its forecast tariff impact it was in. nike, we have not heard from on that regard but ultimately, this is a company that we think will have an ability to mitigate most of those risks. >> probably the biggest question looming over the sector right now, so let's move to some losers the names you don't like here, paul >> yeah, we think that the department store channel will continue to lose share you know in apparel and cosmetic categories in particular and so dillard's is a name fredericksburg that we have a sell rating on then from a discounter or food standpoint, we would note that walmart and target are taking a lot of share and so conversely, we look at a company like kroger as one that is one of the shared donors to those winners. >> yeah, that kind of donor you don't want to be finally, we have gap reporting earnings after the bell today. what are you looking for >> for gap, we're actually expecting same store sales to be negative across all

we saw what lululemon can do that was thought to be expensive. it got more expensive.deserves that multiple this could change the multiple, but again this will be one of the first ones to go if rates go up with the economy >> they had to upgrade it. they had 85 on the target. >> they had a choice to make >> 142 right now there was little choice to do that you have a comment >> i do. two things i think it consolidates here and works itself out i have to defend steven. he made that call in march, the stock went down to 84 at end of may. he was right in making that call >> i was just messing around you guys should switch seats no no >> we're good. >> all right very good. gold prices are hitting -- >> he's my wingman >> you muddled your message. >> gold prices are hitting a two-week low after the rate cut. we have your trades coming up next first kelly has a look at what's coming up. >> we have acceptance, denial, panic, disgust and now euphoria. call it the five stages of the market's fed grief, what comes next we'll dig into that. >>> and as beyond meat is falling today,

who is not and why we'll take a look at that and hear from a guest who is very high on lululemon and nike >> but what does it tell us that you're in denim today? >> i just wanted to be comfortable. cabinets arrived for the matheson kitchen >> he's going to be giddy. >> things are looking up >> consumer spending is -- >> at our hour, it's doing just fine see you in a half hour >>> here's what's coming up on "the exchange. >> ahead -- high-end delivers in the retail world what ceos can learn from tim cook about dealing with the administration want to see a popular movie? it will cost you more. at least in one theater chain. >>> and the new apple credit card requires a lot of special care at ahe o"rapid fire." it's part of being human. sonoma county declared a homeless emergency in 2018. you have to know the individuals you're serving to understand their needs. working with ibm watson we can bring together data spread across dozens of departments. that gives us a fuller view of the people we serve. dear tech, dear tech, we need to look after everyone in our community. and we want to hel

clearly high quality clearly a great global brand i think you have more upside potentially with lululemontill, even at this elevated level. >> plus, weisz has that air jordan collection he has >> i'm not a michael jordan fan so that's unlikely >> can i ask about foot locker if nike is doing well, theoretically -- >> i have never liked foot locker i'm trying to be positive, i was so harsh earlier in the show >> you don't have to use foot locker to be positive. >> sometimes foot locker works basically, having a brick and mortar outlet these days is a challenging place. you know, when we're talking about cash flow positive stocks at the beginning of the show, i was thinking what is the opposite the opposite is speculative stocks anything having to do with brick and mortar retail with a new notable exceptions is really speculative to me. >> the issue with foot locker is if you buy running shoes, you can buy them on nike, try them for a month, and return them if they don't fit with foot locker, you're stuck with them. so it's so easy to buy online. as nike has increased their presence, which t

she gets up early and grabs her workout shirt from lululemon. both contain lycra.she gets dressed. her bra and underwear contain lycra. she also grabs jean because they have coolmax technology also made by invista. then gets her kids off to school. they take their backpacks which contain cordera fabric. she gets in her car. the windshield and lights are made with a green tint in it. the guardian glass, another koch company. she works in a building with windows made of guardian class and wood from the zip ties sorting all of the cables snaking out of her computer, also made by envista. she heads to the grocery store to pick up bread and corn. the wheat in the bread grown by fertilizing from koch brothers. her son is working on a usb hub made my a koch company. her daughter is listening to music made by more padded material by, you guessed it, envista? then she gets in bed with the koch-produced memory foam n his book "kochland," christopher leonard looks at how the koch empire came to be and how it uses its power in corporate and political arenas. chris, thank you f

she gets up early so she grabs her workout shirt and her yoga pants from let's say lululemon, a material containing like ra, both made by invista. she grabs jeans because they have cool max technology also made by invista. she makes sure to take the backpacks that contain another invista product. gets in her car and goes to work. the windshield and the side lights are made of a guardian glass with a tint on it. produced by srg global. guardian glass srg, another koch company. jane works in a building with windows made of guardian glass. it also has hardwood floors with wood made from georgia pacific, another koch brand. also made by invista. after a long day at the office, jane heads to the grocery store to pick up bread and corn, likely grown using koch ferr fertilizer. her son is working on a computer with the usb hub made by the koch company. once the kids are sleep, jane goes to her room, walks across her carpet with koch-produced materials and gets in her bed with that koch produced memory foam. >> that's to ali, that is the reach of koch industries into our every day lives. the "ne

yet they're going to lululemon >> if you have no pricing power at a time where you can still say the economy is good, and consumer confidence is so high and retail is a bright spot, if you don't have pricing power in that environment -- >> macy's hasn't had pricing power pfor the last three years i think it's more about tjx. i think it's more about amazon i think it's more about burlington it's about those retailers i can't get behind what i'm seeing from macy's and jp penny and saying we're going to see an avalanche. >> pete, you're there, right >> absolutely. >> what about this retail deal for a guy who, you know, looks at these stocks as -- i don't know is target attractive in this kind of an environment >> absolutely. >> or just everything now becomes somewhat of a worry because of what macy's had to say about the greater environment? >> no, i don't agree with that i think it's a macy's problem. a nordstrom problem. you look back and see these names. they've been suffering a long time they've been trying to navigate their way through. look at nordstrom's the last couple of quarte

even a company like levi strauss has a single-digit percentage of goods in from china, along with lululemone impact that it is for some of the individual brands. , how much pricing power to these companies have to push down on their suppliers so the two not have to raise their own prices? sarah: that is a good question, and it is also about how much more room to suck and tumor have to be's least. we've been seeing -- to be squeezed. coke and pepsi raise prices, procter & gamble has been raising prices. you have faster so, when consumers -- you have to ask your self, when consumers are starting to feel that squeeze, how will that change their behavior? will that encourage them to start to look for more bargains? if they do that, that does not bode well for department stores like jcpenney or kohl's. david: let's talk about walmart. that is the big behemoth. they have been able to squeeze down their suppliers and keep costs down. are they going to as we see the potential 10% tariffs september 1? dana: certainly walmart has the buying power more than anyone else to be competitive. i think the o

they don't have another partner to help absorb the higher cost nike, adidas, lululemon, under armour, those names actually could be less exposed because of a couple things. number one, they have a global revenue stream they have diversified sourcing high margins, and a little bit more pricing power than other names. then you have the off pricers, tjx, ross stores, burlington, they're more insulated too because a smaller percentage of their goods they sell are bought directly from china and they have a strong negotiating leverage relationship with a lot of those suppliers because that actually has been a strong part of retail as of late tyler. >> thank you very much courtney reagan. >> apple, one of the big trade war victims today. those shares getting crushed they're down 5% or so right now. as you see there 5.5% roughly the stock on track now for its third day of losses. joining us now is tom forte senior da davidson and gene munster, founder, managing partner at luke ventures both of you like apple stock and i would say a lot. tom, why don't you make the case for why the stock has b