piper jaffray taking the pulse of teenagers to get their take on tech and more we will break down the stocks that could benefit based on the results of the survey. and loxo oncology up 90% this year as its cancer drug shows some big promise the ceo joins us ahead as "power lunch" resumes right now >>> welcome to "power lunch. i'm melissa lee. a volatile day on wall street dow falls more than 200 points right now it's down by 123 s&p's down by about 11 the nasdaq composite the only one in the green leading the dow lower today, dow, du pont, american express and goldman sachs. energy stocks, they're falling as oil drops chesapeake range resources big losers as you see there more than 3% losses across the board. regional banks on pace for their third straight down day, nearing a one-year low pnc, bb & t, and suntrust are the laggards there check out the retail ipo that is its first up day in four buck sxl american eagle. they are leading meantime, for more on today's action let's bring in bob pisani at the new york stock exchange bob. >> some sectors holding up quite well, others just ki

price target is $6 the stock fell 10% to the billiad rating was cut to neutral from overbating at piper jaffray citing the outlook for revenue growth. the price target is 75, the stock up 1.5% to 69.74. >>> still ahead, getting to work. manufacturing jobs are being created but not necessarily at american companies. >>> the fbi is reportedly tensifying the criminal investigation into whether tesla misstated model 3 production figures. the "wall street journal" reports that the electric auto maker is facing a deepening criminal probout those projections. but tesla says it has not received a o subpoena a request for documents in months. the company is cooperati with a voluntary request for documents it received from the d.o.j. in september. the trump administration as you probably anow has made push to bring more manufacturing jobs back to the u.s. by the way of tariffs and trade wars. but as ylan muyepts from florida it's actually investments from foreign company that are generating a lot of the new job growth. >> reporter: in brand-new factory outside of tampa, florida, makesar for gas turbines.

joined by craig johnson of piper jaffray, stacy gilbert with susquehanna.raig, obviously these are some defensive type stocks that are sort of living up to that reputation and even look worth buying right here? >> i think at these levels we got to recognize that portfolio managers have to do something. if they're going to take profits out of the fab five tech stocks, microsoft, apple, et cetera, they need to put money somewhere, so verizon is one of those names that you can step up and buy. you've got a nice dividend yield, a constructive looking base on the charts, and fs one that's going to outperform on a relative basis maybe not absolute, that's one name we'd be buying in here. >> all right, stacy, among this bunch, any of them look attractive >> it's interesting. if we look at the options what's really seeing the uptick in bullish flow, it's been more walmart. this can be a defensive name, but this is also a company that's really kind of gotten its act together relative to some of its performance over the past year it's not surprising to see the uptick

olson, thank you for a much, joining us from piper jaffray. do you like them?inst is hard to bet tech. we got a wobble in tech with the moving yield, but as long as you are posting these kinds of numbers with this kind of guidance, this relative valuation, this rotation we have been waiting for looks like it will take a little more time. evan brown of ubs management will be sticking with us. president trump is criticizing rising interest rates. more on that next. this is bloomberg. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. alix: this is "bloomberg daybreak." we thought it might be a relief rally today. that was not to be the case. futures down by 20%.

piper jaffray is saying, we think it was actually decent.rising rates will have an impact on mortgages. anything for loan growth? ramy: jpmorgan was the standout. i love saying record. $13.9 billion, thanks to the rates along with steady growth in core loans. i want to show you what is happening in terms of the earnings surprise area i will terminal, 2.4% is the earnings surprise we have gotten so far with banks reporting. not so much. look at consumer discretionary, up 7% and information technology at 4.5%. we will see if this continues because more banks are coming up. ,ank of america, merrill lynch october 15. morgan stanley october 16. shery: when will look at that and how rising rates have an impact on this going forward. thank you so much for that. last week stock market carnage may have stabilized, but fragility remains. preview asia's trading day. this is bloomberg. ♪ ♪ sydneyit is 9:30 in where markets open in 30 minutes ' time. he areas asx -- here is asx futures. looking at downside when we get into the citi open. you have very sh

according to a piper jaffray survey, 12% of teenagers prefer chick-fil-a and 10% chose starbucks.third. halloween is a week ago and if you have not decided what you want to be, google might be able to help. google trends compiled the list of top costumes. tapping that list, for that, spiderman, unicorn, dinosaur and which. the retail federation reports that average american will spend about $86 on costumes, candy, and decorations this halloween. suspicious packages sent to the homes of the clintons as well as the obama's coming up in the next hour. the device found inside that could be connected to a major democratic donor. >>> close call on a southern california freeway. the pilot of the airplane was unable to walk away without any injuries. >>> investigation in los angeles after a small airplane crashed on the freeway yesterday on highway 101 in agoura hills. the pilot was the only person on board and pulled to safety. chp says the pilot had 30 years of experience and walked away with only singed hair. the crash caused a massive traffic delay but no other injuries reported. >>>

kevin barker, piper jaffray. >>> it may not have the rock star status of some of the competitors, but our secret chart, delivering all-time highs a look at this often overlooked tech giant. >>> plus china reportedly behind a massive scheme to spy on american companies we've got the latest and the implications for u.s. national security. >>> plus, shares of gardent health soaring in their debut today. the company hoping to conquer cancer in a unique way the ceo will join us, and we're all over this market sell-off with the dow down right now more than 330 points. microsoft, home depot, nike, those are the laggards "power lunch" will explore it all when we return in two. don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress

that is craig johnson, chief market technician at piper jaffray.leased to have you on set you got an extra hour of sleep i have to show you what craig does how often do you put this out? >> ten times a year. >> ten times a year they write a couple hundred page book on the market the latest note is called breakout or fakeout. you and i have talked. structurally, is this a strong mark market >> there's a lot of challenges out here now literally right now we're seeing -- the market tried to break out in september we failed. we have come back in we're at a point in time where we closed below the highs we had seen back in january >> that was the fake out >> we've seen fake outs like that before in 2007. we've seen it in 2000. here's the interesting thing on the last advance in this market we've seen a fewer number of participating stocks, fewer number of stocks breaking above their 40-week moving averages. the number of stocks is an uptrend in our work. we look at over 4,000 stocks every single day, week and month. >> lazy. >> lazy. >> what we've found

in fact, this morning piper jaffray's retail team released their results and vans scored so well thest figures could trip until north america the bottom line vf corp reported a good but not perfect quarter it just had the misfortune of reporting during a panic so the stock just got obliterated as i think the stock has become a steal at these levels certainly and will return to excellent growth once it sells the jeans business and goes in the rapidly expanding businesses that we like so much let's go to maleka in illinois >> caller: hi, mr. cramer. i just wanted to say i love your show you're a smart, intelligent person and bring creativity and fun illustration regarding your talk about the market. >> thank you. >> caller: my question i just got into investing a little over a year ago and most of the choices i have are retail and skin care and cosmetics and what are your thoughts regarding ralph lauren i know due to the up and down of the market last week i had 500 shares and they sold 250 and like today it went up 4.53 so what's your recommendation. >> this is when you can't look at

the brand has skyrocketed among the age group over the past year, according to piper jaffray's biannual survey, ranking 13th out of all footwear brands in teen popularity. a massive jump from the 27th ranking crocs held last year. business insider reports this is all thanks to go ugly fashion becoming a new trend. so -- >> i had my same black pair for ten -- no, eight years. >> wow, so they're croc classification. >> they still look the same every year. >> they're comfortable. >> i'm kind of heaappy to say ie never had a pair. >> christmas gift. >> and we're thinking about christmas with temperatures in the upper 80s for the inland areas over the next couple of days. i'm not even in that mind-set yet. >> i'll take the flip flops and the 80s. >> yeah. or crocs. >> no, no. thanks so much for joining us. our next newscast is at 5:00. >> all right. make sure you come back tomorrow. we start at 4:30. warning, california. a handful of billionaires have spent over $70 million on campaigns to undermine our public schools. and electing a former wall street banker named marshall tuck to superinte

according to piper jaffray, 87% say that they use instagram once a month. 84% say that they use snapchat that often. popularity of facebook continues to slide with just 28% of teenagers saying that they use it. two years ago, 40% said that they use facebook once a month. if your parents are using something, you do not want to use it. that is what is going on. >>> halloween is a multibillion dollar industry. it is more popular in western cities and states than the rest of the country. the national retail federation reports the average american spends about $86 on costumes, candy, decorations and trips to haunted houses. the wall street journal found that phoenix spent more than anywhere else. los angeles is second and honolulu is third. paradise near las vegas. the dining room table is awash in duct tape and cardboard and paint so we are making our customs. >> what you think about that? because of the weather? >> i think so. in phoenix dry and warm and you can go out and decorate your house. >> let's talk football. the oakland raiders are looking to the future as they traded away another

piper jaffray did this study, they're watching 16% less cable the last three years.netflix. netflix accounts for over 37% of teenage viewing habits. youtube has been picking up as well. they have over 30%, 33% just to be exact over the past three years. stuart: that's huge. >> a big bump, right? what are traditional cable companies, comcast, disney, they're spending a lot on streaming. they're getting into the streaming services, the on demand. in order to do that they have been raising a lot of debt. let me show you the debt levels. we have the 100 billion-dollar debt club. comcast reported, beat the bottom line. they are spending a ton. they bought up sky. that is a 40 billion-dollar transaction that they are in firmly in the 100 billion-dollar debt club. at&t, is highly indebted, spending on content. verizon the same thing. you want to get eyeballs. that is a shift away. what about disney? which will report, owner of the new fox, disney not insignificant debt levels at $70 billion but less than what you saw from comcast and co. netflix raising $2 billion to add to

. >> the two michaels, we thank you, michael pachter and olson from piper jaffray. >>> john flannerybut with the new guy, will he deliver the turnaround the company is promising trading nation takes a look xt >>> welcome back to "power lunch. time for trading nation. take a look at general electric. still up more than 8%, close to 9% after the company removed john flannery, ceo, after a brief year in the role craig johnson is with peacher jaffray. try to assess the stock from here if you look at the chart on the way from 32 down to 11 a lot of rallys along the way yet still was in a big downtrend. any which to save a stock that's washed out and ready to bomb here >> you know, i don't think so at this point in time and look at this chart the new ceo coming in is probably the right move for the company. if you strip aside the change in management it is still making a series of lower lows and lower highs and really take a close above 15 to make any sort of indication that a low has been set and that perhaps we're going to see some sort of trend change tart to unfold from my perspective

some top picks for the end of the year from nicole miller reagan, senior restaurants analyst at piper jaffrayerse is fascinating to me because we all love to eat. what are the best picks as we head into that shopping holiday season >> well, it's the year of the restaurant so with that being said, where we are in each cycle helps us determine how we make recommendations. so at this point, looking from contraction into expansion phase, we're going to stick with the momentum plays and the winners like a shake shack, mcdonald's in a qsr. but we also love recovery stories. so that would be chipotle and potbelly then we make reference today we upgraded b.j.'s. in terms of casual dining, that whole segment is doing better. >> one of the stocks you mentioned of the idea that straunts could be good is a mid-scale play darden restaurants has hit a 52-week or better high just recently yet it's one of the biggest laggards in the past two weeks or so. is there anything we should read into with that with regard to whether the consumer is still healthy or not >> i think that was a sell on a new situation. i

with us right now is piper jaffray senior research analyst. good to see you.. is it a buy into the number? >> i would say it is it is always hard with microsoft, but our checks indicate that fundamentals couldn't be better and i don't think some of the recent pressure is driven by valuation. so we are confident that they will beat across the top and bottom and we'll be looking for continuation of the durable growth rate that they have been putting up >> what happens if it is a great report but tech remains out of favor, can it still go higher even if the broader sector is still in question? >> i don't think so. i think again from a fundamentals perspective, i think the sector is doing really well but microsoft is also a liquid stock. and so people sell but it is also the first thing they come back to. it is a really good growth opportunity, really efficient. well run company >> has become a cloud play in and of itself. >> exactly so look, it is hard to say what the market will do any given day, but i think over the next year or two, you are getting a double di

craig johnson with piper jaffray to weigh in on where this group might head from here stacy, obviouslyoup for the cyclica cyclicals, for the overall market, for global markets where do we go from here is this just the beginning or maybe can we have a comeback for the industrials? we don't have stacy's audio there. craig, give us a glimpse of what your charts are telling you about this group you obviously have had some down side leadership from the industrials, at least in this market pullback. >> yeah, hey, mike we've been underweight the industrials now for several months and as you can imagine, on days like today we've talked, had conversations with a lot of very smart investors. and when you look at a chart of the xli you can see very clearly that a double top has been made here so you've got to look at a chart like this and then make an implication of what this means for the overall industrial sector, what this means for cyclicals and for growth stocks. and i look at this kind of setup on this chart and we're just now starting to break below the prior lows i think from here we're g