ecosystem and calling it lululemon studio. what we unveiled today is this hybrid fitness nness platform at is knew are three things emma will have access to even more content i heard she loves amanda robinson. >> how did you know that >> we'll get more from amanda. i listen to you. i listen we'll have access to eight new studio partners and will have the flexibility to workout at home using her mirror. she can work out out on the street any digital device and go to the studios and work out in person with those partners and we added lululemon benefits. 10% off lululemon products, so a discount there and 20% off the in studio classes to the partners as well as early access to product and things like that. >> i think people need to know this studio you talk about are the best and therefore expensive. 20% off is substantial. >> yeah, i mean, what we do is create products that really serve the unmet needs of our guests we're looking for more benefits. we want to get back into the gym. we don't want to lose the access of working out

the action, the story and the trade on broadcom and lululemon. off its highs, on pace for the worst year ever its earnings have beaten the street 18 of the past 20 quarters kristina partsinevelos has the story and david katz, matrix assets investor has the trades >> just in june you had management from broad come say they still anticipate demand to outpace supply they believe near term demand is staying strong still higher than precovid a few barometers you have of course broadcom connectivity we saw their business is primarily based on prescription based model. storage-based chips sector has been weak. can that offset the weakness in storage? >> david, what do you think? what are you looking for and do you expect much commentary on the vm >> we think broadcom is doing well we would not buy the stock in front of earnings because it's been a treacherous earnings system technology has had a lot of misses along with apparel. we're wary about stepping in front of it. if you have a 6 to 12 month time frame it is well positioned at a 13 or 14 times ear

she has an outperform rating on lululemon and price target of $470. for joining us. >> thank you for having me. in an environment right now where we are seeing companies miss earnings, lower guidance and talking about excepting promotions, you have the exact opposite at lululemon. it was a very strong beat, a beat across many different line items. they raised the outlook for the year. it is even better than consensus and it is coming from category, domestic and international strength, double-digit traffic increases in stores and online. it was exceptional. the price target we get to and overall, we think that the growth parameters -- think about the double-digit sales growth that not only we had this year, but you had against 42% last year that we think there is double-digit to come given the expansion of categories, units and regions. alyx: when we take a look at the inventory situation, did lululemon avoid the inventory trap the guys like walmart or target fell into or did they manage it better? how did they manage that? >> i think overall, everyone

what are you doing with lululemon now?own lulu going into earnings we still hold it it's been quite a rollercoaster. bri believe it or not, the stock is essentially unchanged, week on week i think the company is trading at a reasonable multiple to growth 27 times, grew 33% on the bottom line year on year. and i think they're demonstrating that they can execute. with respect to the put spread as a hedge, and i think i misspoke hanging onto that for now, i think it represents a decent hedge to the down side between now and expiration two weeks from now >> bonawyn, have you got a take on how you would play lulu from here >> i'm looking at this slightly differently. what do you do when you have a name that's really made a move you want exposure because one, the type of consumer it services is higher end. you don't want to chase here i'm looking at the lulu october 275-330 risky. so i'm selling that put and buying that call for a cash outlay for about three and a quarter. you know, you don't really start to participate on the u

what do you make of the resiliency of rands like lululemon -- brands like lululemon when other brandsen struggling? chip: we started in 1998. we went through the 2001 crisis, the 2008 crisis, etc. it is not just lululemon. i am involved with other brands. we've been basically seeing the change in the way people are spending their time. [indiscernible] -- people live longer, healthier lives. all of these brands are providing what people want. it is no longer the 1950's where people are smoking and drinking. they want the chance to work out and they are going outside. the digital world has people sitting on their butts. we have got to get outdoors and athletics works. the brand is involved in giving the consumer what they want. jon: chip wilson speaking with me earlier. more of that interview on the website. coming up, our coverage of that tentative agreement to avert the rail strike. this is bloomberg. jon: president biden hailing the tentative agreement between u.s. railroads and unions. let's keep that conversation going. he earl joins us -- pete earl joins us. what is your reaction

we've got an earnings alert for you, lululemon shares are hired by 9 1/2.guidance for the company also handling the quarter posting earnings per share of 220 versus expectations of 187 a share. revenues coming in more than 5% above estimates that nearly $1.9 billion. sara eisen joins us. sarah. >> hi, melissa. you do not many other retailers right now posting 29% health growth. ceo calvin mcdonald of lululemon says he hasn't seen any changes or signs of weakness from the consumer. lulu, you mentioned, also listed gallons. so i asked mcdonald with the current quarter is looking for right now. >> the are very confident and comfortable with the start of the quarter. and we have very exciting back half of innovations of product coming, and we are cycling over some opportunities from last year, where, if you recall, last year, it was september. it's hard to believe it was only a year ago, where we saw shutdowns in vietnam, disrupted a lot of our flow of inventory, in particular, certain categories like our outerwear. so we are excited to have that behind us. we

the high print was right at the open we got good corporate news from lululemon. sector are the growthier stef oil has been killed all week, metals and mining, semiconductors strong, broadcom was okay, so they tend to move inseriously. cathie wood's ark innovation started off strong now it's down. health care has been lagging it's not been a good week for energy global demand has been perceived to be lower. but today's reversing a bit. these are high beta names. they're all to the up side as to where we are right now, let's just call the jobs report, if you're a bull, looking for inflation to come down, i'll call it a step in the right direction. slower job growth, slower wage growth that's exactly what everybody wants, because it adds to the peak inflation data. it doesn't mean there's going to be rate cuts, but at least it adds to the peak inflation thesis what's nexts what's going to slowly add to this the cpi will come out on september 13th i don't usually pay that much attention to it, but i think it's -- next week, just one week from here, just this week alo

. >>> shares of lululemon jumping this morning the brand reported $220 per share.e store shares grew 23% lululemon traffic was strong in store and online despite inflation and the ceo told us not as much discounting. stock up 10% >> that is unbelievable. traffic up 30% in stores and online up 40%. look for weakness. good luck. >> absolutely. the stock had been down 35% from the high clearly investors feel like they are bucking the broader trend. >>> shares of pagerduty higher reversing decline of 7% during yesterday's session. a loss of 4 cents per share wasn't as bad as 8 cents analysts expected. it got hit yesterday thanks to the 33% drop of okta pagerduty erasing losses for that stock shares of broadcom beat esti estimates. >> you almost created a new company. pager booty. ing interesting line of business >> one of the older businesses out there. >> let your imagination run. >>> when we come back, we take you live to china for the latest on the covid lockdowns and imagining manufacturing centers. this is pretty serious stuff. >>> also reaction from dr. scott got

. >>> lululemon under pressure after its earnings after the bell up next, the key numbers and themesd be looking out for. >>> plus chips chaumd and okta plunging when we take you inside the market zone, next. with xfinity internet, you get advanced security that helps protect you at home and on the go. you feel so safe, it's as if... i don't know... evander holyfield has your back. i wouldn't click on that. hey, thanks! we got a muffin for ed! all right! you don't need those calories. can we at least split it? nope. advanced security that helps protect your devices in and out of the home. i mean, can i have a bite? only from xfinity. nah. unbeatable internet. made to do anything so you can do anything. bubbles bubbles so many bubbles! as an expedia member you earn points on your travels, and that's on top of your airline miles. so you can go and see... or taste or do absolutely nothing with all those bubbles. without ever wondering if you're getting the most out of your trip. because you are. power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make t

david: what i would just say is lululemon, please stop the fan mail.e unsubscribed many times, and a keep finding it. the taiwan dollar is on track the worst year since 1997 or 1998. rishaad: asia stocks at near two-year lows. this is all we are talking about at the moment. again, it is all down to the yields. yvonne: we are pressing of the week pretty much the same. it is friday. happy friday. ♪ this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. announcer: from the heart of where innovation, money and power collide. from silicon valley and beyond. this is bloomberg technology with emily chang. ♪

if you look at the s-1, lululemon's s-1, their tam was $500 million -- >> that's all it was when theyms of what's going on at the company, margins are 17.6%. lulu's margins are a lot more than that. how can you get your gross margins up >> yeah, our gross margins are over 70% our ebidta margin in the second quarter was 18%. and so if you think about what we're doing, we're really pairing growth and profitability in a very sustainable way. this didn't happen yesterday we've been doing this for years. you know, if you think about actually how much money we've spent, we've spent only $10 million and generated over a billion dollars in net revenue >> that is pretty great. when i was talking about adjusted ebidta margin, 17.6 and last thing i know heather hassan had been named executive chair. a lot of people very excited you guys were co-ceos. why did you make the change? because i know people who are against your stock have somehow told me that this is a terrible thing. >> you know, it really is the right thing for us this is a natural evolution in the trajectory of the business it's giv

shares are up 8% finally, lululemon rallying after beating forecast sales rose 30% in america.ululemon is raising guidance saying it hasn't seen a shift in customer spending habits it is up nearly 10% in the pre-market as you can see. down 17% or so year to date. >>> still on deck here on "worldwide exchange. apple facing the unionization wave whether they could soon face a vote by woerrks. that's next. worldwide future are flat. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. another busy day. and of course it is -elp you're a cio in 2022. so what's on the agenda? you guys have a look at that and see... morning security briefing - make that two. share that link. send that contract. see what's trending. check the traffic on your network. in real time. with the next generation in global secure networking from comcast business. lunch? - sure. you've got time. onboard 37 new people. with 74 new devices. does

it's more interesting to talk about lululemon's $1500 mirror than whatever it is.: do you want to be interesting or make money? stu: i want to attract the audience. i want to give our audience news and information on the companies which they know about and care about and that's what we do. i haven't but some of the audience probably have. what's the story? lauren: show me the stock, down 15%. stu: ouch. lauren: enormous profit miss and i won't bore you and they missed by a mile. used cars are expensive. we can't afford them so we stopped buying them and i can prove it. in the quarter, unit sales fell 10% at carmax but their prices rose and if you look under the hood, you find out why, it's a major affordability problem and that's an instance of it. stu: another company that a lotted of people know and use, it's rite aid. lauren: down 16%. they've lost and cut their forecast so a miss and a slash for the future is not good. but look, fewer people getting covid tests and covid vaccines and pharmacy unit didn't do well and units fell and closing stores and cost money

netflix, lululemon and fedex. and our financial planning tools can help you reach them.wnership. power e*trade's easy-to-use tools make complex trading less complicated custom scans help you find new trading opportunities while an earnings tool helps you plan your trades and stay on top of the market my finances were all over the place. and my banking relationship was getting... well, complicated. hahaha! so, i broke up with messy accounts and moved my money to sofi. now i earn higher interest on my checking and savings, and bank, borrow, and invest—all in one app. feels nice being in control. break up with bad banking. get up to 2.00% interest, and bank, borrow, and invest—all in one app. plus, download the sofi app and earn up to $300 when you set up direct deposit. sofi get your money right. >>> welcome back to fast money. it is time for the trader triple play. first up, we have fedex. shares fell by more than 2%. they cited near-term macro headwinds. what is your take? >> i have tried to make the argument for federal breast multiple times. we have the north of $300 s

. >> greg: men are wearing lululemon. >> kellyanne: to kat's point the government wanted to ask you tos. it is telling you in some ways it is telling you what you can eat and can wear, where you can live and where you can do it what's clear children go to. by the back to because it leaves you with far less money to make those choices. >> i look at you jamie [laughs] [laughs] would you spend more on last year? taxes are getting divorced? [laughs] >> jamie: a little bit more on getting divorced. i would just like to say that expensive it was it. [laughs] [laughs] [cheers and applause] is to write about that dear member one lululemon there were these pants and turned out that they were too thin like all you can see everything. i was like who told the girls? why would we -- >> greg: you sick little man that's what you got divorced. hanging out in front of the old jim on? >> jamie: dude, i'm an independent i'm the worst health insurance i probably spend more on that then. when i have my first was $8,000 out-of-pocket. crazy expensive iva sprain or break, i lay behind my back on the x-ray ma

investors going back towards gold has helped barrett today, you have an earnings story with lululemon showing its pricing power in an inflationary environment. leading the nasdaq 100 right now with a gain of 6.5%. >> u.s. employers adding more jobs in august, more people entering the workforce, the payroll growing a better 315,000 jobs last month. the jumper dissipation rate climbing, let's bring in the bloomberg international economics and policy correspondent. i went through those numbers, what was the most important one there? >> it is the participation rate, it shows a lot more people coming back into the office, they believe there is an opportunity to get jobs. it will help the inflation picture if there is more people looking for work, employers may not have the pay as much. the other good news is that the economy stays in a reasonably good footing with the 315,000 jobs. we somebody fracturing jobs up 22,000, construction jobs up 16,000, incidentally manufacturing jobs are at the highest levels, since 2008. mortgage services, we know real estate is in trouble. mortgage applicati

we've seen that with lululemon today which is up 3.5%. they had better than expected results last week and we have seen a number of analysts boost their target prices. one of the stocks bucking the trend on this tuesday so far. kriti: we spoke earlier in the day with someone making the bull case on stocks. >> when everyone is on this race to the bottom, who can get more bearish and have a more outlandish forecast, that tells you, sentiment, different ways to measure it, global financial prices slows and no matter how bad you think this is, that's not it. inflation fever is beginning to break. you have corporate consumers that are for now remaining remarkably resilient. it is the fact of the matter today, the u.s. economy is re-accelerating right now. kriti: joining us for more insight is the cio of morgan stanley wealth management. thank you for joining us. is there a bull case for stocks? >> i'm not as convinced right now. obviously, we've seen a sequential improvement in the economy and economic data, stabilization in things like manufa

pants, buying their lululemon gear, and they're going to go out and continue to buy products like what apple is going to deliver. so that demand so me is going to be there. >> i think they will be fine on inventory which is why i mentioned the lead times they're going to have the products that's why i said. the question is, is the demand going to be there? what am i paying at 25, 26 times. berkshire has a hundred billion dollar in cash to spend. i find there's other ways to play the same kind of theme. that's the way i'm kind of positioned. >> okay. you have your -- is apple too expensive? that's the conversation. >> you know, what's interesting is -- what is the conveinterest. apple has a stability of cash flow and a continuity of -- i would -- i guess i would refer to it as shareholder support so to speak that no other company has. arguably, that would earn it a premium valuation. the problem with that is, if you buy it today at that premium valuation, then you're essentially not in position to earn as much, right? the equity risk premium would be lower because you're taking less ris

lululemon was dragged down by the nike story. they announced a settlement with peloton. we will continue to watch those highlights. macron, the stock is up, but it is the same time the production outlook is raising concerns for the rest of the sector, and obviously the story of the broader economy. katie: definitely a head-scratch earlier today we caught up with deutsche bank chief global strategist, who said stocks will stay at an unprecedented fourth quarter rally. take a lesson. >> i would completely agree, given where we are basically in the cycle, there is really no case for equities based on either earnings or the valuation of those earnings. what i'm calling for is bear market rally number five, and it is likely to be bigger than number four. i would argue at this stage you have to be tactical, because we have this cloud of recession. jon: let's get some more perspective. joining us now, steve chiavarone at federated hermes. bear market number five sounds like a song. we are doing quite a song and dance going into the fourth quarter. what is your current view on w

. >>> meanwhile, hundreds of yoga teachers are accusing lululemon of fueling nearly half of its textile coal. it's working to be part of a solution. >>> a new legal fight involving prices on amazon, the company is accused of illegally keeping prices high. abc's andrea fujii explains. >> reporter: this morning, amazon under fire accused of stifling competition. >> the prices are artificially inflated. >> reporter: california's attorney general talking about a new lawsuit from the state claiming amazon has violated antitrust laws. the suit claims for years the company has required sellers to enter into contracts that penalize them if their products are offered elsewhere at a lower price. the alleged punishments would include receiving a less prominent spot on the site or being taken off amazon altogether. in the end, the attorney general says consumers end up paying more. >> causing increased prices for families across california. in order to avoid competing on prices with other online e-commerce sites. >> reporter: the lawsuit is asking amazon to pay damages and stop entering into contra

that includes some positive news from lululemon in the u.s..lice: president biden has accused donald trump in so-called maga republicans of assaulting the foundation of u.s. democracy. he urged americans to reject any candidates backed by trump in the midterm elections labeling them extremist. >> donald trump in the maga republicans represent extremism that threatens the foundations of our economy -- of our democracy. >> the company that runs the nuclear power plant in ukraine says a team of you and inspectors will remain there until saturday. it is the first name and the iaea history they've gone to a war zone to carry out an inspection. this is the fourth chinese mega-city to be locked down so far this year, due to the covid zero policy. employees in the u.k. stepped up recruitment this week, that unemployment confederations is about 2 million new jobs were advertised, the highest figure of 2022 and the second highest on record. global news 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2700 journalists and analysts i

. ♪ >> a quick check of the latest business flash headlines, lululemon is jumping.t sign that high income shoppers remain strong. the company is aiming to double sales by 2026 by selling more goods to men and opening stores overseas. jeffrey's has asked employees to be in the office on a more consistent basis. the company has reported no issue with employees who want to work from home time to time. they are stressing the need to be more at the office to maximize fourth-quarter results. twitter is issuing an edit button. users will be able to make changes to their tweets for up to 30 minutes after originally published. prior visions will still be viewable. >> let's take a quick look at what is happening to currency. once again, things are flat. a bit of a slight move in the aussie dollar and new zealand as well. the japanese dollar-yen at 140.18. a little bit of pullback in the dollar waiting for trading to get more underway broadly. the jobs report is coming tomorrow. daybreak asia is next. there's a whole lot coming up. this is bloomberg. ♪ pst. girl. you can do be

i follow lululemon, i do not follow the whole group. even there, that is a short-term type problem.lix: do you still feel nike and other companies you cover have an ability to tack on higher costs to the consumer? inflation is still rising. can they pass it on and maintain margins? brian: great question. i follow a large number of consumer companies. what i am seeing right now is significant pricing power on these retailers for brands. there is a breaking point. i have not seen that yet. most of the companies i cover are tier two, generally upper company consumers. i do not follow many companies who would cater to lower income consumers. right now what i have seen is significant pricing power on retailers and brands. guy: what is the story in europe? this is where the consumer feels like it is pressurized the most at the moment. we are going into a difficult winter. this is a huge market for these brands. if europe falters, how quickly does it feedback into some of the numbers, and what impact is the currency going to have if we see the dollar going up, up, up? brian: i will go to n

lululemon was your biggest gainer. 6.7% higher on the back of an encouraging earning.eople are buying leggings. broadcom, one point 7% higher on the day, shaking off a lot of fears for those chip companies. emily: we are going to dig into chips later. thank you for that update. meantime, turning to streaming. netflix sets to launch its ad supported service later this year. ace -- at a significant premium compared to other platforms, as far as we know. the streaming giant intending to roll out this plan ahead of its rival disney plus which will launch its own ad supported plan on december 8. netflix has announced the rate for its -- hasn't announced the rate for its ad supported plan yet. we will bring in a former top longtime disney executive, kevin, it is great to have you back on the show. so curious what you think of this. especially with these ad supported tears. how much do you think these will really drive new subscribers? >> great to be here. always enjoy being on your show. there's a lot of promise for the ad supported. there are substantial tailwinds of the ma

is that a nike problem or everyone problem, dick's sporting-goods, footlocker, lululemon all down 5, 6, seven% in some cases. stuart: the story is they've got a huge inventory build and discount which hurts their margins and get stuff out the door but don't get as much revenue. lauren: the consumer would appreciate a deal but the consumer is pulling back in all sorts of ways, you have stuff at the time the consumers cutting back. stuart: tell me about carnival. lauren: your worst performer on the s&p and they reported earnings at a huge loss for the third quarter but i wanted to bring you some numbers. i know you have numbers, the cost of fuel is $668 million. you're going hundred $82 million, food $259 million, a a year ago 52 million, we are talking in one year's time an increase of $700 million for a like carnival to feed the people and keep the ship running. stuart: those numbers are astonishing. i don't like those numbers but they are stunning. what is with the blue apron middle delivery folks? lauren: the cfo has resigned, wasn't even cfo, typically something like that would ma

but you hear about lululemon not going to lower prices.heir categories you are seeing weaker prices it has to do with categories we consumed during the pandemic which were so hard to get which stores have stocked up on so much and now they have a ton of them, i keep coming back to the air fryer. >> you can pick up an air fryer for very cheap right now target took the hit and said we'll take the pain and has tried to get through a lot of their inventory as quickly as possible if you have a product that people want, lululemon, you don't have to cut the price. >> that's what we're hearing from the food companies, you talked to the unilever ceo their costs are very high and they're not trying to scam consumers by raising prices but they're protecting margins and that's telling >> it's weird, they have to be noticing gas, at least wholesale gas down to january levels >> shipping rates are down all the transportation issues are down i think what the story is, they're down but still up from where they were, i don't know, in the last year or two y

inventories are surging, lululemon inventories up 85% from last year, look at these numbers, footlocker, kohl's, gap, no merchant wants that stock in the new year so they will cut the prices and they also know that we are buckling under inflation and might be more willing to spend on experience over a product. that is what they are forecasting, holiday sales will rise 5% this year to $1.5 trillion but that is 1/3 of last year. this is because of inflation, although shoppers out there. just wondering. ashley: 94 and your kids are counting every one of them. jpmorgan's jamie dimon certainly didn't hold back when asked about the democrats green agenda. he says stopping oil and gas production could be the road to hell for america. 's meantime meantime the white house claims for public governors who are busting and flying migrants to blue states are putting migrants lives at risk. roll tape. >> don't know why we would reach out to a governor or governors, it is something they are doing not to find a solution but to literally put people's lives at risk. ashley: it was okay when the white hous

just think, like, lululemon on steroids. narrator: to investors, she claims outrageous profits...tt: that 3 million is worth over $6 million. you're crazy to [bleep] with it. narrator: but the feds say she's running a $20 million scam... you don't steal $20 million withou

lululemon, is that a guy? selling used yoga pants, a parent company of bella vita.ing are expected to rise 23% this year. how did they get that right? even tv hosts are getting into the act. right now i am wearing jason paisley's underwear. of course secondhand sfr more palatable way of putting it then second sweaty ass. but with inflation people say buying used is worth it. they find some items grosser to buy use than others, such as shoes and band-aids anyways, this seems like a good place for a skit. >> hello, scare, welcome to second time around, do you see anything you like? >> yes, i'm going to get some of these underpants. >> great choice, can i interest you in the prechewed sandwich? >> that will save me so much time. then i think one of these used toothbrushes too. have you seen my lucky toilet toothbrush, my dad gave it to me. you don't want to know what he had to do to smuggle this out of albania. >> so gross! [applause] oh, my gosh. >> greg: according to this article 62% of millennials and jen z look for used closed before new clothes. do you use you stu

protect forests and wildlife in canada, chip wilson announced that donation he's the founder of lululemond michael jordan still soaring. the nba great gr's jersey sold r more than $10 million. jordan wore the red road uniform in the first game of the 1998 nba finals the sale breaks the record for game worn memorabilia. >>> and today at the pump, the average price nationwide for a gallon of gas, $3.69 the cost down now 94 straight days still, a gallon costs 50 cents more than it did this time last year >>> it is finally friday night, so lights shining down on high school football fields across the country. over the past few years, there's big a big push to make the games safer at every level now a school in southwest ohio is working to protect its players byputting some high tech gears inside the helmets. courtney reagan is live at centerville high school outside of dayton. a couple of undefeated ohio teams. a game this year for the ages, electric atmosphere. >> reporter: absolutely, tyler you can feel the excitement and the buzz here. it's homecoming night, it's military appreciation nigh

the lululemons were found in a trash bag not far from the body at all.rtment where his brother lived. but, listen to this. this is a qualifier for the death penalty and tennessee, you can have a choice. you can get the needle. you can just go to sleep unlike your murder victim or can you get the chair. that's still an option in tennessee. but, here's an aggravating circumstance. he stalked her for nearly 30 minutes. what is he doing up at 4:00 in the morning stalking women? he has only been out of jail on kidnapping for two years. two years he has been out of jail and here he is again saying. that will come in as a similar transaction. mark my word. >> ainsley: why did he go after -- remember years ago while he was in prison he put the guy in the trunk and that's the same law firm where it appears that this young lady's uncle works? i know you said you are not sure of the connection there. >> uncle. did this guy prosecute him or was it just random? >> well, the guy that he kidnapped the first time was in a law firm. we're waiting for the connection. but

. >> look at that lineup we'll hear from tim cook we didn't even get to lululemon earn earnings i knowking why am i talking about that but if that's the pulse to the middle to high end consumer, could bode well for iphone demand. >> yeah. you see the piece today about apple overtaking android in the u.s. with 50% share on things that move very glacially great long weekend let's get to the judge and the half >>> carl, thanks very much welcome, everybody, to this friday edition of "halftime report" from the new york stock exchange front and center this hour, a goldilocks jobs report is that what we got? and if so, what does it mean for your money in the weeks ahead? is it time to bet more heavily on a soft landing? rob, josh brown with me jenny harrington and jim lebenthal let's take a look at the friday trade. we're green across the board 350 for the dow, we're above 32,000 s&p is above 4000, that's

stocks in your money we have some breaking earnings coming, too, you're not going to want to miss lululemonertime" and broadcom where the chips space is under fire of late this is going to be the most recent read for all of you on the back of what's been a real flurry of negative news around that space so we'll see what they deliver i'll see all of you, i hope,a few hours' time. some final trades and you have a little bit of time to give me more reasoning on why you like what you do. keri >> i pick cme group. cme benefits from volatility they run the biggest exchange for derivatives and, of course being commodities. and they will have higher earnings than expected if this continues for the rest of the year, earnings estimates have been increasing and so we think that it's a stock that over the next couple of quarters will outperform and it hasn't been a good performer this year it's down year to date that's my pick today. >> good stuff. thank you for that jason snipe? >> yes, i like abbvie here i think it's important to take a defensive posture in a very difficult market again, 8% free cash

lululemon continues to pass on higher prices to the consumer and analysts raising same-store sales estimatesn say the same thing about williams sonoma. and ulta. these are -- [inaudible] charles: i hope you're right because i'm down in ulta and williams sonoma for now. but i feel much better after this conversation. great seeing you jar rohn. >> thank you very much. charles: americans are stressed out about everything. feels like we're at almost a civil war at each other. we need to look at the bigger picture. talking about the world happiness rankings. where we are now and where we could be if we're not careful. ♪. if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity. there's a different way to treat hiv. it's every-other-month, injectable cabenuva. for adults who are undetectable

now let's take a look at lululemon, up big today.ill have the cash, and they're willing to spend it on the expensive leggings and at pleas. better sales, better.. -- profit. we talk about retailers in high inflation which means consumers aren't spending as much. not the case, they said inventories are actually less than a year ago and, in fact, they're under-inventoried due to supply-chain bottlenecks. as a result, they're raising their outlook for the year, and remember, this ises in contrast to nordstrom, macy's. lulu's store traffic, this was incredible to me, up 30% from last year. that shows that demand -- people want those legging, and they love hair spandex and lie lycra from lulu. ashley: well -- yeah. stu varney was just saying that last week. susan: right. and do we want to picture stu in lycra? ashley: no. susan: o.k.. ashley: god bless him. they named a new ceo at starbucks. what do we know about him, susan? susan: the he's the lysol brand box, he's a former pepsico consultant. howard schultz picked a complete outsider fr

. >> tesla is higher, starbucks, lululemon adding 4%. what you seeing in the market internals? and it's more than two to one, 2.5 to 1 pretty consistent at the index level there. take a look at the communication services sector. made a new low today actually as a group while the s&p has not made a new year to date low. you talk about traditional defensives the telecom, cable stocks really look awful right here. people are concerned i think about things like cord shaving and cord cutting comcast, charter, all those things not working and then meta and google are also relative under performers that's an area that probably is starting to look statistically cheap, i would imagine volatility index not doing much. perked up into the 26s it's elevated, not panicky we had a little bit of a monday rebuild in volatility, but you see that chart there, shows you higher lows and we're in between panic and concern. >> that's sort of what jives with what the market is it telling you, concern but not pandemic the dow into the close, down 165, we've come off the lows as well it's been a bumpy r

taking a look at this one, lululemon sitting at the top of nasdaq after the apparel maker raised itsecast, also beat with analyst expectations for second quarter revenue and profits. high income consumers who are less affected by inflation have been scooping up many of the new products including their new belt bags and their golf and ten misif apparel. can tennis apparel. taking a look at starbucks, the stock is lower now almost 3%. still, the company has announced a new ceo. it's going to join -- he's going to join the company in october and become ceo in april of 20 to 23. now, laksam comes from reck it where he helped oversee a large restructuring. current ceo, howard schultz, saying in a statement he hairs starbucks' commitment to its customers and community. and, remember, howard schultz, this is his third go-round running starbucks. he's a repeat offender, that is for sure, and he seems to love that company. stock is lower. >>> all right, broadcom bouncing higher today the after semiconductor maker beat analyst estimates for fiscal third quarter earnings and provided a better t

so i obviously am very constructive with lululemon, nike, lvmh and hr and i'm stick being to those.nk was the most oversold stock in the market a few weeks ago. certainly acting a lot better. kristin, thank you very much, appreciate it. >> thanks for having me. charles: the market continues to sort of bob and weave here. it is really kind of marking time it looks like ahead of the next big inflation number which obviously is going to have a big impact on sentiment one way or the other. meanwhile investors are using options, right? they're trying to capitalize on these gyrations which we've seen in today's session. option play director of education and product, jessica enskip. i was checking out your site. you're having webinar in option strategies after the market close today. i know you don't want to give away too much r there tried and true rules playing options in a bear market? >> for charles, i'm happy to give away something for you. options are such a wonderful vessel. you can utilize them to gauge market sentiment to understand maybe there is a directional bias or bullish or

susan: and i quickly talk about lululemon?ycra and spandex, your favorit- [laughter] that new pair of leggings, neil, because a lot of people are shopping. have you looked at the stock today in up double digits. in fact, they are under-inventoried. when have you heard that in retail? that's why the stock is surging -- neil: isn't in the company with the old owner criticized overweight people? [laughter] susan: he said certain people shouldn't be wearing the leggings they make hawaii's why he's not there -- he's -- that's why he's not there anymore. nordstrom's, macy's have been hammered because they've had too much inventory. neil: so you're saying they have a leg up on the competition decision -- competition. [laughter] neil: susan, thank you. so. in the meantime, taking a look at how the president was going right back after the maga crowd. did he go too far though? >> donald trump and the maga republicans represented extremism that threatens the very foundations of our republic. maga republicans do not respect the constituti

strong demand for their business if it's a restaurant where there are three hour waits, like a new, lululemonhen it first came out you start studying them. get involved. you start probing them f they work you keep adding to them. that is where you make your big money. i'm just not sure we're there yet. i think we have near term low in place. charles: i gave my subscribers, solaredge. my sell out end phase. i cried when we took profits. i love the stock, great when it is up 7%. >> it is one of the few yearly highs in the market end phase. no doubt. >> government will make it happen, whether you like it or not they will pour trillions into it. gary, love your wisdom, your expertise. >> thank you, charles. charles: we have callie cox. i've been saying for a long time one of the worst things ever happened to the market is financial tv. because every day we're picking winners, and losers, pressure on the retail investor to sell. by the way turns out i'm not only one. i saw a note from howard marks, howard marks of oak tree fame. read parts of it. i would care little about the chicken littles desir

lululemon, you sold it on the close on wednesday afternoon uber you sold on the close on wednesday afternoon. and uber to many had seemingly found new life in this market, but maybe nothing has it at this moment no matter how much you like it. >> so first of all in each of those instances you're trying to protect what was profitable trades, but the reason behind selling off wednesday afternoon i think was very clear to everyone after listening to chairman powell there was a dynamic shift. and because of that dynamic shift i think now the thesis in which you could say the consumer's strong and earnings have been strong, i don't think you could maintain that thesis i think there's an extreme degree of uncertainty. i think the market knows inflation is going to be stubbornly high. i think the market knows yield and bring medicine and combat inflation but now earnings and the fact we move forward earnings estimates, earnings revoigzs are going to have to come down trudramatically so both these companies, scott, are going to be consumer facing. you have to protect some profits and respond to what

could it be that barack obama strongly prefers blond soul cycle moms and lululemon to sweaty third world campesinos in dirty work pants? co be ?t we can't say, but we can tell peu that if you want to find out what people really think,t go ahead and ignore whatsa they say and watch how they live. eyand by that measure, the one that matters, barack and michelle obama are everyle bit as bigoted as any board clu member in any restricted country club in the deepin soute . assuming those still exist,ey'rg those people, they're not dating my n tell y my daughter.. i could tell you that. in other words, we learned this week that barack obama really is a racist and not in the way you've always assumed. obam a hate white people.nds to l >> he certainly seems to, but he also demands to live aroundtm them and only them. >> but the obamas, to be fair, are not alone in this.ew his friends at the newsel e networks in washington, new york and losxacte way angell exactly the same way because they're exactly the same sort of people. cnn, for example, spent the dayt interviewing people connected in some wa

lulu lululemon, they too have been increasing prices an successful in doing so. so it's very hard to paint retail and even categories with the sort of a wide-ranging brush, which is why we need people like dan nathan to help us be discerning in individual stock names. >> absolutely. thank you very much, courtney reagan just as we head into the close, i want to show everybody what's happening. basically a bad day for stocks it went from bad to worse in this final hour of trade, down 1226 points on the dow we were down a few moments ago 1300 points. looking at our worst day for the dow, s&p and the nasdaq since june 2020. pandemic times worst day of the year, worst day in almost two years. s&p 500 is down more than 4% every sector is down sharply today. even energy, which is hold up the best of all is down 2.3% utilities second place, down 2 spoken 5%. nothing compared to the losses we're seeing in communication services, down 5.5 technology down 5. so dan, people at home see these numbers. this is a lot scarier than what we have seen in other sell-offs. it hasn't

individual names like lululemon still look very good to us, home depot, the strength of the consumer netflix too in terms of for the longer term perspective but i think what you're going to hear more from me in 2023 is small mid-cap stocks are looking increasingly attractive, and so you want to tilt for quality, you want to tilt toward brands, stocks are on sale, be humble and swoop into these names that are the best names in the world. charles: brian, it sounds to me, that you're almost saying forget about the way wall street looks at this stuff quarter-to-quarter, over-reactions, because a lot of those names you named have been hit recently for some news or whether it was earnings report or whatever, and look at the company and themselves, which ironically, is a way, a lot of folks said you know, how you have long term success and the only way to smooth out these bumps because you'll hit a bump in the over-reaction from time to time is to kind of look at the bigger picture. i like that. also give a lot of names so we appreciate that as well. listen, get back on track, get your tan

lululemon is jumping in trade after raising its forecast and beating analyst estimates.-income shoppers remains strong despite inflation. the company aims to double sales by 2026 by selling more goods to men and opening or stores. according to a staff memo, a company is asking workers to work and the office on a more consistent basis. jeffrey's executives are stressing the need to be in the office. starbucks has named its next ceo. he will join the coffee giant on october 1 and take over fully april 1 of next year. the consumer industry veteran inherits a growing union push and struggling sales in china. evolution mining has appointed lori conway as ceo and managing director. jake line to continue his executive chair until 2020 four. conway has been evolution's chief natural officer since 2014. the company says the search for a new cfo is underway. kathleen: coming up, chinese property developers post their worst earnings in more than a decade. this is bloomberg. ♪ ♪ kathleen: the hang seng index has fallen in 11 of the past fifth -- 11 of the past 15 months, but the dro

we've got something from lululemon which is going to blow people's socks off if you have the mirror ihink the mirror is not heir to the peloton, better than peloton, even before peloton fizzled and became the way that my wife had her undergarments dry. probably shouldn't have said that >> a little tmi, jim we'll see you tonight on "mad money," 6:00 p.m. eastern time more "squawk on the street" continues. truck ken miller is on stage saying the fed made a mistake, nasdaq flat with apple down 4% not easy to do we're back in a minute . >>> good wednesday morning welcome to another hour of "squawk on the street. i'm carl quintanilla with morgan brennan. david faber live at delivering alpha investor summit today. markets getting supported by the b of e blinking on long-term paper over there, helping offset concerns about hurricane ian and reports about apple production housing data to start the hour. >> pending home sales fell 2% from auguin august from july. sales down 24% year over year. these numbers are based on signed contracts the 30-year fixed had crossed 6% in june, but came back t

lululemon stock of about 10% after various strong quarterly report the s and p 500 back above 4000 thisning, at 9 11,031 1, and a quartersdaq percent there. maybe we'll see 12,000 again soon and alert went out to computers or users around the world about a suspected security flaw in tiktok's android app. now microsoft cybersecurity team described it as a high severity flaw that could make the popular social media site an easy target for hackers. they say hackers could gain access to tiktok accounts by clicking on a single link. however tiktok's says it fixed the security flaw before hackers could exploit it. bank of america is introducing a program to help minorities buy their first home. it's called the community affordable loan solution, and it will be available in certain cities with large black or latino neighborhoods, including los angeles, detroit, dallas, miami and charlotte. that's where bank of america is based. the loans are based on credit guidelines, including on time bill payments . eligibility is based on income , no minimum credit score or mortgage insurance is required.

lululemon coming out and saying the higher income shoppers will bear the ones -- they're the ones theyour company afloat. shares of 9.6%. it is the retail story but yes there is inflation, there are a retail inventory buildups but the higher income chopper rescuing that. moderna about unchanged as well, one high earlier in the session thanks to the omicron boosts which are hitting clinics across the country. per helps -- perhaps helping modernity bottom line. and bed, bath & beyond shares are down about 6%. the turnaround plan, still not impressing investors. tom: thanks so much. bed, bath & beyond i believe is one of the meme stocks. this is a joy for me personally because aerospace engineering matters. if you do aerospace engineering, you are denominator based, looking at the change in time. that has been the hallmark of record on economics --carl riccadonna economics over the here's. we are thrilled he has the best seats at the u.s. open. the chief u.s. economist joins us this morning. thank you for the tickets last week. it was really wonderful. [laughter] let's cut to the chase. t