but macie can still use more money.me up with a dollar amount that it would take to make all your dreams come true for this property and to pay off the loans, what is that number? >> it would have to be somewhere around $200,000. >> she definitely needs more help, too. while you still have the vim and vigor to do this, there will come a day where someone else will have to take this over. that "someone" rides to the rescue, while macie finds out what the ancient drawings might really be worth. >> the rock art's very, very valuable. this should be preserved and protected and made available for more people to view. >> that's next. what's your strange inheritance story? we'd love to tell it. send me an e-mail or go to our website -- strangeinheritance.com. >> now back to "strange inheritance." ♪ >> bear gulch pictographs, run by macie ahlgren, is the newest tourist attraction in central montana. >> it feels really great, and i hope that we can find a way to share it with anybody that wants to come. >> one of those eager to

as its new president hal lawton will report directly to the macy's ceo.ourtney, you're sitting down with the ceo of macy's late every today? >> that's right. "squawk box" will be sitting down with jeff gennette. we have a lot to talk about. perhaps it's a matter of 2k3we9i2k3we9 i getting the stores and online in sync macy's has done a good job using online and in stores comp sales have been down ten straight quarters. it's about turning those around. that's where we need to focus. >> macy's shares ahead of that news, just up over a percent in the premarket. >>> coming up, pakistan stocks tumble today after strong words from president trump last night. a live report from islamabad straight ahead. >>> here's another check of the yaurp pe european markets still firmly in the green. this is "worldwide exchange" on cnbc ♪ we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and,

macy's supports a 7.7-year-old the truth is, right now macy's has enough cash to cover it. dividends cost $460 million annually here's the bottom line, macy's may be a high risk store owning a department store stinks in this environment. but we're getting close to the point where the stock is too cheap to ignore, unless you leave the company is going under. but macy's is looking like it could be a bargain, as long as you can stomach the risk stay with cramer ♪ >>> we love big picture themes here on "mad money." powerful, long-term trends that can generate major multiyear runs the data center is where it all begins as more companies transition to the cloud, you store your software information off site and access it online, the demand for data centers keeps climbing. everything you get you have the web has to be hosted somewhere, which means a data center, which brings me to cyrus one, a real estate investment trump that provides facilities to over 900 customers. stocks have been up on a real tear here. look, we know business is good, baa they reported a strong quarter, with

zblmpblt a tough day for macy's and kohl's shareholders. despite exceeding earnings, investors focused on their decloining sales and their inability to attract new customer as more people shop online. both stocks fell sharply. courtney reagan has more on the s most recognizable f the stores. >> it's another dismal day for department stores despite both macy's and kohl's posting better than expected quarterly results and making no changing to full year forecasts, investors are still pessimistic. sales for macy's and kohl's are lower than last year. it's not enough to off set l tr. plus, shoppers today have more choices than ever before. >> what we see out there today is a, we have traffic going to a virtual place, obviously amazon is one of those key ak regators, but b, fiscal traffic, we're seeing more and more consumers go to the off mall type of formats like wross stores, a tj and uhl lta. >> they continue to be p t to ct treasure hunt at low prices, macy's is adding its own version of an outlet called backstage in some of its stores, but

macy's was better.prior number macy's was down 3.4% or so in the first quarter. so it was sequentially it'll be better i don't want to skew it too much not threatening. year over year the ten straight quarters it's been tough here but still looking for some kind of overall improvement elsewhere, what a crummy mid-season we're having for the ipos some of my friends have been listening to the blue apron call they've been talking about operational challenges over there for blue apron it's not just amazon and we have an nyc ipo that's been -- that's steel that's been okay but the steam business to the utilities that's been not so well that's been postponed for today. don't have any data on when that may start up again we do have a new nasdaq ipo that has refiled. they may try to go public this week we don't know. but one of several that postponed this year. must be eight or nine of them this year. they refiled they had a mush better price the prior price talk six or eight weeks ago. but bottom line is it's

it destroyed a lot of value. >> macy's has this great sort of brand with me.department store i would go to macy's jcpenney lost that somehow i wonder if they're all headed there. >> no. i don't know the real estate -- you could argue the real estate and merchandise there is worth almost the whole company the company is valued about $500 million as an ongoing retailer penney does not have that. i agree with you with the existential crisis at penneys. i don't get it. >>> ross linhnevso interview at 12:30 pm we'll be right back. nk to keep their global campus connected. and why a pro football team chose us to deliver fiber-enabled broadband to more than 65,000 fans. and why a leading car brand counts on us to keep their dealer network streamlined and nimble. businesses count on communication, and communication counts on centurylink. >>> taylor swift is back on social media and sent the internet into a frenzy, the pop star posting a cryptic ten-second clip of what appears to be a snake moving back and forth after she completely wiped all her websites, fueling spec

fell 5%, but macy's stock is down 39%. we act like nobody's selling anything, but reality is yes they are declining they are declining, but fractionally, why is the market beating these things like somebody else's lented mule? >> well, there's just no enthusiasm for anybody that's the third party seller and as we were saying a minute ago, kohl's is in better shape than the mall-based guys are, but it's tough across the board when you're competing with online and when you're also going online and it goes down. people are pulling business away from the third party sellers, directly to consumer, putting it on amazon, brands are going on amazon, nike being a good example, and then we see the big fight going on among who's left for the small market share gains that you can get >> i get all of that, but randall, to brian's question, there was a tremendous rally in retail over the last three months if you had bought at the right time, you actually made a lot of money. we get to these moments where the pessimism is so deep that yo

macy's earnings came ahead of the analysts. an analyst at citigroup said the second quarter was less bad than the first quarter but isn't enough to impress the market and he cited a very weak sales growth margin equation and could be feeding into the decline. dillards was also out with its numbers and that company reported an unexpected second quarter loss. the c.e.o. said significant markdowns led to a disappointing loss as we dealt with inventory. inventory rising a quarter and we'll dig more deeply into retailers throughout the day. it's not just retail weighing on the major averages. if you look at the bloomberg and the imac, it's broad-based and seeing one piece of consumer discretionary is green and besides that all the groups are red within the s&p 500 and consumer discretionary retail is a part down .75% and technology is down more. and the fang stocks are trading lower and is a big drag, facebook, amazon, face wook, -- facebook all taking a hit. we see risk aversion coming back into the market and a way of looking at t

macy's announcing management shakeup in the wake of slumping sales. hal lawton was tapped as incoming president here is what the ceo told our courtney reagan about the incoming president earlier on squawk. >> a great choice for macy's, intersection of retail and technology and what he did, what he learned in terms of his retail experience, how he applied that to a technology company and coming back to a retailer, we think he will be able to scale change much faster. >> says the dividend is safe jim? >> great interview by courtney point blank, it was terrific i've been going over what ginnette said in the fourth quarter -- i'm sorry, in the conference call, a little disappointing. remember the stock just got crushed, versus what he's saying with courtney. i felt better. he said really there's not much going on with real estate in the comps call that was dreadful. he it say things are happening i really like that he talked about the fourth quarter being promotional. that is christmas. he did not say that this time. talked about loyalty i like the fact t

plenty of retail earnings, macy's, kohl's, with nordstrom set to report.f those results next, but next blue apron sinking. we're going to tell you what to expect from e althme kick provider, after this break stay with us our collaboration with pg&e is centered around public safety. without pg&e's assistance, without their training we could not do our mission to keep our community safe. anytime we are responding to a structure fire, one of the first calls you make is for pg&e for gas and electric safety. it's my job to make sure that they have the training that they need to make the scene safe for themselves and for the public. it's hands-on training actually turning valves, turning systems off, looking at different wire systems all that training is crucial to keeping our community safe and our firefighters safe. together, we're building a better california. >>> european stocks closing a few moments away seema? >> down day for european stocks. you can see behind me a long time global investors overlooblgd the geopoliticalsh with a sharp tone and rhetoric us

he joins macy's after two years at ebay.is joining at a time when the retailer is consolidating its merchandising operations from three silos into one organization also cutting 100 more jobs that's not all he's doing. take a look behind me at this customer service area. this is going to be many macy's stores where you can pick up your online order inside the store's busiest door not only is it more convenient for shoppers, they tend to buy more when it's located here. perhaps because of all that time they are saving. macy's will be adding lockers to make online ordering pick up easier if you don't feel the need to interact with a human associate. >> the changes we have made this the shopping experience and the assortments is lifting the building we believe we have the right strategy with yesterday's announcement and with this new leadership with hal, we believe we will have the team to take us forward, faster. >> investors are hoping that macy's can turn around ten straight quarters of lower comparable sales in shoes they ar

macy's and kohl's are having a rebound. nordstrom was higher.ow the stock is lower, even though it is a bright spot here with the company posting a gain of 1.7% last quarter. deeply into norstrom and jcpenney and the rest of retail later on in the show. as we see stocks bounce back today, the areas that have been catching a break over the last two days of reversing direction. crude oil prices have been all over the place actually. down 1% today. gold is little changed come a slightly higher after rising for the past two sessions. and the vix is lower after rising to its highest since may. but it is holding above the 15 level. what is interesting if you look at the vix curve, take a look at the bloomberg care. live blog onour in the bloomberg. according to a representative, the selloff could feel painful, but it is what he calls a flush wound -- fleassh won't. flesh wound. the reversal is the white line. stocks will tend to bounce back. we will see what happens by the end up today. minutes of the close of equity trading in europe. we are seeing a

cold to macy's to report quarterly results before the bell.easing numbers "after the bell." the two pose results from last year. analysts are concerned the promotions of macy's cosmetics department could be a specific concern. nordstrom earnings expected a decline. revenue expect it to rise about 3%. also launching facebook today, redesigning their video for original programming. calling up watch and discuss sections that showcase videos that maybe her friends are watching. they want to have the show generate conversation on facebook. they also plan to make it possible for anyone to upload a show. kind of like youtube is the best way to describe it. shares of facebook up 50% so far this year. maria: is incredible what what is going on with social media and media in general. how do you see things changing in the next three years? >> this is tough to predict, but more and more people are watching videos on smartphones him to continue in this space to get this right. youtube has obviously been hugely successful in young millennial of teenagers in

macy's is fighting the consumer onft to digital and spending experiences.actually been really aggressive in trying to fight net battle. they have cut jobs. they have even been looking for ways to try and unlock value in their real estate. they really have quite little to show for it. next intion is what is that turnaround and can whatever that may be also turnaround that stock. mark, beta that. mark: you know what happened 10 years ago. mark gilbert wrote this wonderful piece. this is in dedication to him. as we passed the anniversary of the start of the credit crisis it's important to look at where we came from. central banks pump loads of money into the market. it's a consequence investors have been chasing yields higher. justds of high-yield debt falling below the 10 year treasury yield. the last time that happened for any length of time didn't end so well. i'm talking about 10 years ago. look what happened to high-yield. 20% in the space of two years. from the credit crisis we are talking about normalization. central banks should be ever so gentle and u

and i look at macy's and wonder, is macy's -- could it be the same thing >> and i have the opposite story. >> you always do. >> i was working for another company and looked at the yield on ibm, i believe it was 9% and thought this is a lay-up, i'm going to buy a great company ibm and get 9% payback at that time interest rates were higher so it was not quite what 9% is today. then of course the stock just went down and down and down and the yield -- dividend got cut and cut and cut. and it was probably the worst investment of my life. what we saw there with those -- going back to the wall -- >> frontier -- >> look at the beautiful yields? what do those stocks have in common stock market performance down 70% and 21%. that's in part while those yields are so high that's not a good sign >> how do investors know when a stocks dividend can be in trouble. lets bring david, a firm that focuses on stocks. good to have you here, david >> you heard the conversations and the basic questions, what do you think? is macy's safe >> the last time macy's yield in this level was back in '08 or '09 we favor

as we go to break, a check-in on macy's shares.nings beating on both the top line, less of a kline in same-store sales. it was up 6% or 7% and is now down half a percent. stay tuned, you're watching "squawk box" on cnbc there's a denture adhesive that holds strong until evening. fixodent plus adhesives. just one application gives you superior hold even at the end of the day fixodent. strong more like natural teeth. finding the best hotel price is whoooo. now a safe bet. because tripadvisor searches... ...over 200 booking sites - so you save up to 30% on the... ...hotelock it in. tripadvisor. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. our next guest is at the intersection of the banking sector and oil patch here on set, chairman and ceo of cullen frost bankers is phil green. phil, good morning to you. >> good morning. >> thank you for joining us. and we'l

macy.se has it is your story similar why you kept the h. in your name when you became an actor? >> yup. there's a great actor bill macy. he was on maude. you've seen him a lot. a great guy, too. i finally got to meet bill. any way he had a bill macy. so for while i used wh macy i noticed whoo i'd go to auditions nobody wanted to say wh. how do you say it. wh. they would skip me. i learned to figure out who was behind me. so i could say you skipped me. then i just sort of unilaterally changed it to william h. macy which is my name. so wacky. why not? >> it's awesome. i know we're rapping up. lay over is streaming on direct tv now it will hit theaters on se obviously the casting of kate upton as well as alexander degree ya, two beautiful women they do great job in this role. talk about the casting because initially if you -- did you have lea michelle recently. >> every so briefly but it didn't work out. and boy did i get lucky. i didn't know that much about alexander degree ya she's she's a g

promotions and macy's cosmetics department hurt the financial performance.ordstrom earnings decline revenue expected to rise 3%. beleaguered is the word i use with retail. >> discounts vary where i'm cosmetics. iso does isn't as simple as it might sound. they charge is a pretty hefty fee for drinks containing sugar. residents find ways to get around it. jeff flock brings us that story. >> good morning from the middle of the road. actually the middle of lake cook road in illinois. sugary drink tax is cook county. you pay an extra penny announced a few drinks have been that his sugared. if you don't want to pay that tax in barrington, illinois, walk across the street. they are, lake county, no sugary drink tax. what is a sugary drink tax? it's included in what is not. as you might guess, and a soda can at any diet soda or even ones that don't have sugar, but as sweetener in it than the sweetened tea comes to sweetened tea come to sweden coffees and drinks, all tax now. the free refills you are used to getting wherever you go, those are also free but not free w

>> one of the issues that macy's has faced is very meaningful margin pressure of late. of cost, done major restructuring, saytheir sales he declined mid to high single digits and i think it's the rate of the decline that's really impacting their market cap and there were much greater expectations for real estate monetization that's not panned out and a lot of investors are excludeing the gains and seeing a much lower go forward earnings number than what the company is outlini outlining. >> let's do this again next week thank you. jp morgan. nice to see you here at post 9. >> thanks for having me. >> with when we come back as goes boeing so goes the dow. ppw, jim swa iterts going to join us to explain squawk on the street will be right back the whisperer? why do they call him the whisperer? he talks to planes. he talks to planes. watch this. hey watson, what's avionics telling you? maintenance records and performance data suggest replacing capacitor c4. not bad. what's with the coffee maker? sorry. we are not on speaking terms. >>> another warning for north korea. in his

yesterday, macy's brought in a technologist to help their business they need that fresh pair of eyes everyone has a strategy that's been a little more effective lowe's are putting up a big amount of money to make a push on the web the real retail winners have an edge tjx and ross stores have lower prices than amazon, because they buy clothes from retailers and sell it at a discounted price or if it's seasonal, they hold on to it until next year. and i don't know if you caught it last night, but the ceo of sales force told us the story of a bunch of luxury retailers that are uses sales force's platform to personalize the process touch and value are the two ways to debeat amazon. the big european designers and the boutique expensive ones, and then the merchants get the power of customer relation management. this is business that might otherwise perhaps been rolled over by amazon amazon may have ambitions for china. but the longer we watch the stock of alibaba, that matters consider the rest of f.a.n.g., of course, google is not allowed to be in china amazon has a powerful hosting busin

macy's also beat. right now and dillard's, shares are down 15% which is a disaster. 21st century fox shares are up 3% after the company beat revenues -- beat earnings by 3%. is alleeney says this about the affiliate growth in the trends are expected to continue into 2018 and shares are being rewarded. looking at live nation, up about 7% after the concert and ticket seller put up a huge beat by 90%. these are not small numbers, -- they beat by 19%. concert attendance the first half of this year was up strong, up 12% as expected to moderate in the second half but nonetheless, the shares are up 30% year to date and there is a 8%-9% shortage so investors are not too happy. that bigs of shorts on run, thank you so much. it's time to reduce risk. pimco and t. rowe price and money managers are sounding the alarm on markets and fears rhetoric between the u.s. and north korea has resulted in a more risk off sentiment feel. these are the reasons why our guests have said they are more cautious. >> i am nervous ab

macies is adding its own version of an outlet called back stage in some stores macy's has not solved one of its biggest problems, bringing in new shoppers the foot traffic continues its down trend getting worse in tourist heavy locations. kohl's is more insulated from the mall woes since only a handful of stores are actually in a mall. but it is dealing with fewer people walking through doors and reversing that trend remains a top priority >> the mall-based ecosystem as you see today from the department stores, numbers better than expected, but still down, it's starting a gradual spiral i think the urgency to address whatever opportunities that are left is growing. >> with the mostimportant time of year still ahead for retail finding opportunities soon is paramount. courtney reagan, cnbc business news. >>> blue apron lost nearly a fifth of its value on thursday after reporting a bigger than expected loss in the first ever quarterly earnings report. the company says it is encountering unexpected costs and starting a new distribution facility. >> reporter: blue apron shares reacted pos

they are not as big and diverse as macy's. that is perhaps the issue macy's is having.ans too many things to too many people. nordstrom's and smaller retailers have the ability to be more nimble and focus on specific customers and do well with them. i think we will see more compression in the department store apparel space that is likely to be at the top. the big retailers get smaller. amazon will take a share of that, as will smaller, mourn and bull retailers. nimble retailers. yvonne: it is still too early to call bottom. time to be contrarian and bet on the sector once again? matt: a lot of people look at that and see the same source sales as better than expected. the way i look at it is still in decline. , now theot bet customers are coming up to speed with what they can do with amazon in apparel. that amazon thread is now coming to fruition in the apparel space. -- threat is now coming to fruition in the apparel space. if they can differentiate themselves, we will see more compression in the places like larger places's, that do not have the ability to be agile. no,

names to watch, cbs, michael course, kohl's, macy's. >>> softbank shares higher landon dowdy joins us>> good morning. softbank topping estimates for the quarter. the japanese conglomerate says profits rose more than 50% after they included vision fund as new reportable segment that's the world's largest private equity fund, one of many areas that softbank founder's son has his hand in. has stakes in sprint, allalibab. they're big on ridesharing companies with investments, but as cnbc first reported friday, softbank is not in investing in uber one source telling cnbc talks dead in the water following abrupt departure of ceo travis kalanick shares of softbank are up about 2.3% in early trading. back to you. >> thank you very much for that. >>> could be looking to make a come back. information reports the former ceo asked former colleagues if they would support him in a shareholder battle mr. kalanick, still waiting to hear who his replacement might be. >>> in other tech news, google executives responding to 3300 word anti-diversity manifesto written by one of the employees. it attribute

alix: the distinction between macy's and khol's, where macy's has done the right things but it isn'th, versus kohl's, and where does jcpenney stack up? >> jcpenney's has not been as aggressive in closing stores. they are closing 138 this year, which is more than macy's but a smaller share of their fleet. they still have over 1000 stores. jcpenney's is making more active moves, expanding in the appliance category and they smell blood in the water there. sears is having trouble there, and they think that is a good high-margin area to get traction and that seems smart. alix: we have michael purves here, as well. talk about underperformance, value. you will say, retail sounds good. what do you think? michael: or is it? a lot of value guys are looking at macy's now, which is a retailer with a stronger position. had amazon not existed, jcpenney's would still be there for a lot of folks. i think there are a couple of to pull away. one, look at jcpenney's stock price chart. it dies a slow death. a lot of people three years ago that this stock was going to zero and it does have some there, so

macy's got down about 35% this year. close down 15%. nordstrom's down 2%.of selling in the retail or appeared in your view is that enough? >> well, i don't think it is entirely overdone. the decline has been so severe if you see any signs of life come to some of those retailers, especially the ones that attract international customers will benefit from the fact that the valley of the u.s. dollar is much lower now. down close to almost 9% on a year-to-date basis. you may attract some tourism to some of these stores. lauren: if you look at macy's and close particularly, bonds have outperformed stocks. is that a sign to investors that they can pay -- they can keep the lights on and pay their bills. >> you're absolutely right. the reason for that is because these companies are still making money. they of course this anon five competition from online retailers like amazon. but also making enough money that investors feel comfortable they will be repaid. unfortunately the stocks have not performed. colds and macy's are down close to 40% on a year-to-date basis if

i think, again, last quarter traffic, you know, if you look at macy's, down almost 8% this quarter down%. it is less bad the consumer is out there. we've talked so much about their spending on other things like experience at the end of the day, you look at the brick and mortar retailers, they are losing share. you look at amazon and the fact that alexa, the echo is in peoples home they're continuing to move their wallet spend on to amazon that gets more pain as it gets more painful brands are giving in saying now we have to sell our product on amazon. we wave the white flag >> we have seen that with nike and others stacy, thanks for checking in on a big week for retail. hopefully we can talk to you next week as well. that parade continues. i think the takeaway is investor s have more confidence in the brands to do business online and less confidence in the macy's and dillards of the world to move their businesses online >> you talk about those brands, those brands are sold throughout many different channels, they're just choosing a different distribution point. >>> rv retailer camping w

. >> stock's up about 4% >>> the trades on toll brothers, restaurant brands, and macy's all coming upftime report" back after this y, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies and data without insights. and fragmented care- stop getting in the way of patient recovery and pay attention. every single one of you is on our list. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. becareally want to be there, but you can't. at cognizant, we're helping today's leading media companies create more immersive ways to experience entertainment with new digital systems and technologies. get ready, because we're helping leading companies see it- and see it through-with digital. what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley >>> lrall right. time now for the blitz toll brothers is lower despite be

macy's plans to restructure, and that could leave more than 100 people without jobs.t's not clear where cuts are going to take place, but this is the macy's to stay competitive. >>> a huge credit scored could be a huge draw for people looking for love. financial responsibility was found the most important quality in a potential mate. it ranked ahead of humor, attractiveness, and ambition. >> well i'm hosed. good thing i'm already married. >>> 48% of consumers they spoke with were unknowingly charged for a subscription after the trial period had ended. more than one in three americans say they've signed up for an auto pay subscription at a gym without knowing it. generation x most likely to fall victim, and parentses are more likely to fall into an auto pay study. >>> more americans use uber to get around, but a number of customers claim they're getting wrongly charged for a fee. the fee is meant to protect drivers if someone spills food, or, well, if they puke in their car. those can cost up to $200 if a driver can provide pictures of the mess. >> my advice for other

macy's down 7%.age, the results thereof we've already seen, down again for retailers today. >>> the white house reportedly considering a plan to privatize the war in afghanistan, or at least much of it. there is a proposal, 5500 private contractors, private soldiers basically, would advise afghan combat forces. and a 90-plane private air force would provide air support. joining us now, captain roger hill, former u.s. army captain knows a thing or two about this. are you -- a lot of people say look, they're mercenaries. you will flood afghanistan to do the job of regular army. are you in favor? >> about i can even get to a discussion about whether i'm in favor of sending private contractors or more u.s. troops i can't get past the number we're discussing. 5500 is a drop in the bucket. i almost would say it is laughable because, it barely recovers the amount that we've withdrawn over last couple years. stuart: that would be an initial down payment so to speak of 5500. i mean there is always opportunity

results shares for macy's down 10% i asked macy's ceo on the phone why he isn't raising his quarter guidance, and he said he needed to see sequential improvement from the first quarter and is now more confident about hitting the guidance i asked when macy's comp sales would return to growth and he said he's not ready to declare the timing on that but he's optimistic about the improved numbers in the quarter. kohl's numbers are down of% after its beat and no guidance there either sales improved for all categories and cat industries. dillard's put up a loss when analysts expected a gain the loss was because the merchandise cost the retailer more this year than last and it sold it for last it still has higher inventory left over. shares down by 16.5% for dillard's. nordstrom is up after the bell, so we're looking for about half a percent comp loss, slightly higher revenue and lower earnings but we'll see what we get. bill, back over to you. >> court, real quickly what's the deal with kohl's? it popped this morning and it looked like a beat and then it reversed lower is the that what's

it's not just big retailers like macy's and jcp penny's cutting job, well, the last is going to surpriseyou. you're watching fbn:am. what powers the digital world. communication. that's why a cutting edge university counts on centurylink to keep their global campus connected. and why a pro football team chose us to deliver fiber-enabled broadband to more than 65,000 fans. and why a leading car brand counts on us to keep their dealer network streamlined and nimble. businesses count on communication, and communication counts on centurylink. cheryl: we continue to watch hurricane harvey's path. residents to leave as soon as possible. rob, good morning. rob: yeah, good morning. hurricane harvey has really beefed up here in the last 24, 46 hours and now potential to be a very serious and major hurricane to hit the texas coast, the first major one since 2008 which was ike, right where we are now. 100 yards from the beach here trying to find cover from lighting bolts that we have been seeing dancing around us which is very uncommon for hurricanes but the outer bands and warm climate here has pr

. >>> a news alert on macy's simi modi has that story. >> reporter: dow jones is reporting macy's iseffort to screamline its decisionmaking amongst its top management hal lawton will join macy's september 8th. his title at ebay, senior vice president of north america he'll report to the ceo of macy's who joined in march and that's the news update new president, hal lawton. back to you, kelly. >> seema, thank you. not a lot of movement in the shares, michael, i don't know how much to read into this. >> obviously, macy's has a huge effort in trying to seem in tune with -- ebay, if you think about it, has experience in kind of creating one customer experience with a lot of vendors, a lot are traditional apparel vendors. maybe there's a fit in. >> do they need to accept paypal >> there you -- yeah how many steps down the chain do you want to go >> i don't snow. >> fascinating. >> that's the latest on macy's >>> the man who called bill eokman a spoiled brat, a trdp c on his board's decision to reject ackman's board nominees today, we'll have that right after this and her paw won't heal on

reporter macy jenkins talked to his family tonight. ather. "i am a good guy" this was hugo mejia three months ago - in rio cosumnes correctional center in elk s detained. [ speaking spanish ] >> reporter: this woman describes her husband hugo as the best man she knows, the best husband and the best father. >> i am a good guy. >> reporter: this was hugo mejia three months ago in the correctional center in elk grove just after he was detained. mejia and his co-worker rodrigo nunes were both arrested at travis air force base in may. the two were going through military security on their way to a construction job at david grant medical center. mejia said he didn't know the hospital was on the base. he gave security his legal california driver's license number and car registration but left his social security number blank because he doesn't have one. he and nunes are undocumented. nunes was sent back to mexico friday for failing to have proper u.s. working papers and now support is only growing to release mejia before he, too, is deported. mejia's

and kohl's came out and the big picture is that sales are on the decline and forecast for macy's andtty huge as far as the losses that they were going to be seeing in in-store sales. then we watched jc penny and nordstrom after the bell, right now those are down 7 and 4%. i will note your point is that big picture the market is selling off across the board. this selling that we are seeing could be accelerated for sure. lauren: nicole petallides, thank you very much. and, of course, the retailers suffer when they do the whole discount and sale thing, i like that but not good for investors. a reminder for all of you, looking for liz claman, he's not anchoring her show, you can find her, slip at 4:00 o'clock eastern, she's filling in for neil cavuto on your world. liz will be here tomorrow at 3:00 p.m., this is my last day. she will bring you the latest on earnings and north korea and everything in between that's moving the needle on your portfolio. countdown coming back when the closing bell rings in half an hour from now the war of words from kim jong un, not the only verbal battle pr

to me i bought back macy's the other day after that disappointing report i think that one is kind ofout, pretty cheap stock, some assets there. that's one way to play this thing. >> what yield did you get? >> like 7, 7.5 >> what is the brand worth in macy's, 18 million, 20 million >> are you confident in that >> i bought it a couple of months ago and i sold some at 24 to me you want to trade it a little bit it will need something very strategic in the department store space for things to work out. >> actually in the retail space that's the play. you don't go to ulta if i want these cold stocks ulta was a crowded trade. once they break they break for a while. i would not try to buy the dealership >> one biotech name that could take off so says david seaburg talk about a fast pitch. what stock is worth to buy we'll vote whether buying or selling. your pitch >> i like stocks that are cheap, have a catalyst and totally misunderstood and that's abvie there's a lot of risk on the street bio similar competition coming in 2018, 2019 is what the street is anticipating won't come until 20/20 o

shares of macy's are surging higher on its news this morning. you guys. >> thank you. >>> a new report shows thousands of officers are riding bart for free. records show more than 4,000 officers and federal agents were given the passes. bart has been giving officers free rides for nearly 40 years to help with security. recently the agency said they are trying to make up millions in losses. >>> time now 6:48. another check of traffic. things not looking good. >> i feel like i need a break now. yeah. [ laughter ] >> it's been busy out there. in fact, new live in the felton area, scotts valley, you need to actually get out on 17 northbound this morning, give yourself some extra time. there was a rollover crash out there. they already took the driver to the hospital. the delays behind this, 30, 40- minute delays. you can see the speeds are down to about 7 to 15 miles per hour heading through that area. okay. in san jose, we have another crash that we're keeping an eye on this one also causing some delays. it is on the shoulder of the road so no actu

whether jim crow is legal so those same countries determine is that same standard is a little odd in the macy those are very two different ways to think about race but in that context the first articulation focuses of the cement trevelyan's showing how to structure that act -- that mission but set to what extent does the matter to have meaningful representation so people don't feel stigmatized your stereotypes? this is a robust conception focusing largely on first zero - - first amendment values. >> polite guy now wanted to go to med school what was the effect?. >> you'll have a concurrent by justice powell that essentially said affirmative action is constitutional to take race as one factor among many to decide which students to it mitt. so he concurred but later it became the law eliot you can take race into account to decide how to construct your student body but it has macon american institutions far more diverse. we should think of diversity or affirmatiaffirmati ve-action as a commitment for integration. huckabee has with bad debt sad truth there would be close the race the segregated.

three big consumer names to report what's expected from macy's, kohl kohl's, and nordstrom.gins right now. >>> live from new york where business never sleeps, this is "squawk box. >> good morning, everybody welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. joe is out this week but for the rest of this hour, guy a dami is here >> thanks for having me. this is great. >> we've got a lot to dig through this morning let's start with the u.s. futures. yesterday you saw some pressure on the markets the stocks actually recovered late in the session. came back to pair the losses ended near highs of the day. but you were still looking at the worst day for the dow since july 24th. the stocks were only down by about 36 points. this morning you see some additional pressure. dow indicated down by 32 points. s&p futures would open down by 26 take a look at what happened overnight in asia. that's where a lot of the focus has been with this war of words we've seen wit

i don't mean at macy's kohl's or dfw.hink investors reconsidered trading over last couple weeks and said things are not really that dour. ashley: they are not that dour. for so long we called it the trump trade, on hopes his growth agenda would be put in place that kind of faded. is there any renewed hopes we get tax reform, some infrastructure spending, some business deregulation? >> i think business deregulation is an ongoing effort with the administration and they don't really need the buy-in from any other officials. so i mean that is full steam ahead but looking to taxes i think that the administration knows that it is something that it needs to address and it is going to try. it looks like that they are gearing up for that movement. ashley: also seems to me the global economy picking up. we talked about it early in the show. japan and italy are showing decent signs of growth. we have the sense that the fed is in rush to raise the interest rates because inflation is lagging behind. all of that surely is very positive

who the heck knows what's going on there but all the macy's and jcpenney's stores closing.o to tjx across the street here, i get some great bargains. honestly my wife says that's not how we make money no i go to tjx, buy socks, a belt they have nice shirts, good amazon stuff, under armour stuff i mean crew socks there, really good price. >> we'll get target tomorrow and walmart thursday you mentioned gap already for one of the -- >> i think it could be good. >> is this the kind of environment you want to print, right? >> yeah. target, good that it comes down a head footlocker going down off dick's unbelievable nvidia is down 1.50 premarket. this is a weird market only thing that's working are the banks but i have faith when banks work we have to hear from all the floor people. >> you added nvidia to the charitable trust. >> anybody on that comps call realizes there's -- i hate to use the term tesla without referring to the actual car but they have a tesla chip there was a bit of a gap now it's so much cheaper, runs cooler, faster nvidia, i remain convinced, is the future. >

walmart and l brands are falling at the back and macy's is at a year's low bob pisani is joining us >an, i don't think it is at the bottom yet. it was a good report, the main division, good number. the guidance did not impress investors of the stocks traded down walmart did not change the narratives for retailers they're facing a revenue cliff big name like target and jc penney and macy's and kohl's, that's due to amazon retailers are struggling to be more innovative and jc penney they added appliances and sephora, target is doing a massive store remodelling now. at this point, so many investors abandoning retailers that's going to turn things around. investors want to see growth and not just abbott a bottom, that' to be tough. two dozen retailers at 52 weeks low right now. >> wow the biggest loser this year and many years is jc penney. joining us now is the former jc penney's ceo now, investors are essentially valuing jc penney's business is selling goods at nothing tough question that i got to ask. do you believe jc penney will survive? >> well, last week, most of the malls and depa

and these, i was with macy's for two years, and the other 12 are 10 years plus. some of them had been with the company for 30 years. and when you get to the level we were at, it's harder and harder. it's scary, it really is. >> reporter: unable to find work at another retailer, richter is going it alone. >> really just using instagram, social media to really market myself, and instead of fighting online like i did for so many years, i'm just embracing it and joining them in doing what i feel there's a need in the market for. >> reporter: as you've surely heard by now, the growth of e- commerce is wreaking havoc on traditional retail and its workforce. 5,300 store closings were announced in the first half of 2017, empty storefronts you've probably seen somewhere near you. more painful: the 64,000 job cuts said to be in the works. mark cohen runs the retail studies program at columbia business school. >> the retail worker is in a world of hurt. retailing employees, some 10% of the employed population of the united states. these are folks who are often tethered by w

looking longer term if you can take that, take advantage. >> what about when macy's scales up its ownsion of off price, do you see that being a meaningful hit >> it is important to keep in mind how many are in store it is different than an off-price store. are you selling through goods? >> it is good backstage. i went to one backstage in philadelphia and it was horrendous it was a bunch of junk it was sloppy. i'm not saying every single backstage is like that that's my only experience with backstage after it being hyped and hyped. i was looking forward to finally getting to see one it was just terrible >> the beauty of off price, each store should be different in both vision and product and assortment you would want to see a better view and have a good experience. one of the appeals and the same you had with outlets forever, they don't need to spend a lot you are going in because you want the experience of finding something. these are expensive clothing cheap. to get there, maybe the sgna, the expenses attached go by the wayside and that's the price of entry. >> macy's has said it has

macy's is talking about the cloud. find that when you realize that there is a moment where a guy comes on and says, look, this stock is overvalued, it can get very quickly undervalued by just an avalanche of quick sell. >> pete, this is your kind of day. the banks of ripping today. >> the financials are ripping. >> two groups you talk about a lot, banks and chips. >> absolutely. you're even seeing biotech as well i just think it's an impressive thing and we all know this, as we continue to be in this market, everything moves faster and faster so these dips and these pops and the spikes like we got on the volatility index, we said, look, when we get that kind of a spike it's going to be exaggerated like john is talking about for a variety of reasons that's the market we're in also it's not going to be able to sustain those levels for a great period of time if you're looking for stocks and i know steph is always on the hunt and jimmy and john, i am, if you're looking for stocks and when you buy them, you're selling calls

but macy's decided to step up and gave her $800 to repair her couch. so how did we do?iate it. >> outstanding. >> reporter: she plans to get her couch repaired as soon as possible. folks, if your warranty mentioned wear and tear, ask the company what that means. and always get it in writing. >> we'll add this money to our recovery counter. it now stands at $737,301. if you have a coupler complaint for nbc 10 responds, head to nbc10.com and fill out the form or call us. we will respond to you. >>> we continue to follow a developing story out of philadelphia. an 84-year-old woman found tied up with belts, we are live at the scene with new information. >>> also all new a closer look at the grace packer murder case. investigators say the teen was killed by herred a doop ed adop boyfriend and now another foster child is speaking out on the abuse is he says she saw. >>> after pressure to call out hate fwraupgroups, the presiden denounced the violence. but did it come toot plate. reaction from both sides. >>> and rain has moved in at least part of the area. i'm tracking your h

many are macy's and jcpenney's among them. to bring them back to jobs because jobs could be lost. and you saw today's numbers -- 10,000 jobs in clothing stores were lost last month. verye: i think that's important because people keep running up that online is still only 10% of the overall retail, but it is growing. i can't decide. the control room is pressuring me. i'm getting a tight today. mark: i'm going to go for christine. christine is the winner. she mentioned gary cohn and jobs and wages. well done, christine. i loved emma's preview of retail next week. "real deal" with jonathan ferro is next. ♪ we check our phones 85 times a day. so it only made sense to create a network that keeps up. introducing xfinity mobile. it combines america's largest, most reliable 4g lte with the most wifi hotspots nationwide. saving you money wherever you check your phone. yeah, even there. see how much you can save when you choose by the gig or unlimited. call, or go to xfinitymobile.com. xfinity mobile. it's a new kind of network designed

. >>> macy' hired a former eba executive. previously held that title and the move is part of the retailers plan to streamline the organization to make it more flexible with increased competition and responsible for all aspects of macy's grand and the retailers eliminating 100 jobs and begun closing some stores. >> it just keeps getting bigger, the power ball jackpot is up to $700 million and it could grow again before the drawing tomorrow night. while it's a lot of money it's not the largest jackpot on record for power ball. the largest was nearly $1.6 billion. it was shared by three winning tickets in january of 2016. the drawing is tomorrow night at 11:00 p.m. you have until 9:59 tomorrow night to buy your tickets and try your luck. >> turning 100 is a milestone a remarkable life achievement that warrants every candle and every card. today there is one remarkable woman celebrating a century in lawrenceville, mercer county, i'll let her introduce herself. >> good morning my name and are you ready to do the exercise? >> yes,