other companies with faster growth rates than pulte had in a quarter.happens to profitability if you have these issues with increasing costs? that's a good question to ask considering you get back to the second quarter and look at their growth profit margin, it was the highest and 12.5 years. now, analysts are expecting that to come down a bit. matt: talk about a tragedy, apparently cost issues are going to bankrupt abc carpet which is an industry institution in new york. housing, automotive, we are also seeing it hit the markets. dave: you can focus on the kinds of companies that supply pulte group. today, sherwin-williams down after cutting its forecast for the latest quarter. they can't get enough raw materials either. ppg industries was in the same boat yesterday. they withdrew their forecast for the quarter and the year. you look across building materials companies, you see other declines. these supply issues, they are definitely front and center at the moment. amanda: dave wilson, thank you so much for that. that's our stock of our. -- stock of th

. >> jon >> you got a nice percent, 2% pullback in pulte today. calls in pulte during the show >> cvs you're going to see more booster shots producing earnings and the balance sheet continues to get cleaned up >> okay. and shannon? >> love jim's trade but paypal's mine we're already landed with many subscriber, and i love the idea of expanding that. >> all great stuff have a great long weekend everybody. thanks for watching "halftime. "the exchange" begins now. >>> thank you, brian and hi everybody i'm kelly evans. here's what's ahead this hour. a big disappointment on the jobs front with a silver lining in wages. on top of that clash comes the clash between the confidence of consumers and ceos does one explain the other we'll explore what the conference board says. >>> and in the aftermath of hurricane ida, are insurance premiums for people and businesses about to spike? we'll look at the storm's impact and what it means if these events become increasingly

same thing with the home homebuilders great demand, pulte came out and emphasized we have strong demand talking about. they had lower closings than expected why? it wasn't because the demand wa lower, they had supply chain issues they've got labor shortages that are out there. the homebuilders are down today, but if you watch them, they topped out in may. still, their overall numbers have been very strong recently look what's going on, underpinning the rally, we've had record earnings, we've had record margins and we've had low interest rates and strong revenue growth this supply chain problem eats away at the edges, not dramatically it starts to eat away at the edges of the margin story and the strong earnings growth story. that's why the market's a little bit on edge. the reason we're holding up so well is what you're seeing right here technology continues to see earnings estimates go up why? because technology wins if there's more covid or loses, and wins if there's less covid that's what's going on essentially. so today 28% growth in third quarter earnings for technology, a few two

pulte group is the worst performing stock today and in the s&p 500 down 4%. now that company with updated guidance on home closings over the course of this morning saying that increased supply chain issues continue to impact the pace of home building operations so those constraints, kelly, leading to weakness in that stock >>> bank of america is tracking back to school and back to office trends. their surveys show 90% of adults, 90%, would prefer to work from home the highest level since the survey began creating more demand for home-related products and investing opportunities in not so obvious areas back of america's elizabeth suzuki good to have you back. let's rattle off a few plays you think investors should be watching here. >> sure. thanks for having me on, kelly we've been following some of these stay-at-home beneficiaries which have this incredibly strong trends, and investors have been so concerned about that payback period of when the consumer wallet share shifts back towards these reopening categories that i think it's been ignored how strong thes

i got a call from ed pulte today saying that we have a proposal for you. the d. a.missal of the indictment and vacate the conviction. >> today? >> it's not going to be today. but it will be by the 13th i think. >> are you serious? >> do you believe that? >> well, it hasn't set in yet. >> i know. >> the initial shock. >> i know. >> all the fighting we have done over these years. >> yeah. >> um -- i don't know what to say right now. >> but unfortunately for eric, a month later he's still behind bars. >> these people just don't want to let me go. they want to continue to hold me and torture me. you know, the mental trauma i'm going through right now because of this, i'm wondering whether, you know, they may renege on this agreement. >> but as excruciating as the hours are, eric shares with us something beyond that wall of hope that's helped him wake up every morning. >> there's a bench by the water that each time i go to the barbershop i look at that bench and i wonder if i'll ever be able to sit on it and look back up here instead of looking down there. that's been on

i bought calls in pulte during the show >> cvs you're going to see more booster shots producing earnings and the balance sheet continues to get cleaned up >> okay. and shannon? >> love jim's trade but paypal's mine we're already landed with many subscriber, and i love the idea of expanding that. >> all great stuff have a great long weekend everybody. thanks for watching "halftime. "the exchange" begins now. >>> thank you, brian and hi everybody i'm kelly evans. here's what's ahead this hour. a big disappointment on the jobs front with a silver lining in wages. on top of that clash comes the clash between the confidence of consumers and ceos does one explain the other we'll explore what the conference board says. >>> and in the aftermath of hurricane ida, are insurance premiums for people and businesses about to spike? we'll look at the storm's impact and what it means if these events become increasingly normal >>> plus, first exxon, now chevron. engine number one is revving up to take on another oil producer. >>> we begin with today's market action as dom chu enjoys his long labor day we

it's just unbelievable stuff, just incredible stuff that this man was pultting these women through. again, this was going on allegedly year after year after year all across the country. the classic situation was that he would go to a concert with his entourage, find young girls and women who he was interested in, give them a phone number, and the relationship would begin and continue as the years went on, bringing them to his house, to his music studio, so on and so forth again, we don't know the exact timing of when we're going to hear from the jury i would expect it's going nto b any minute now again, one count of racketeering, eight counts of bringing women across state lines, transporting them, so on and so forth, for purposes of sex, and he faces, again, decades, more than 100 years in jail if he's convicted of all these things and the jury has only been deliberating -- because the jury has been only deliberating for about nine hours, one has to expect there is going to be a guilty verdict here in some of this the prosecution in their closing summation went through, line by lin

labor problems affecting the ability of some of the homebuilders to fully deliver on their orders so pultead that issue. we see them all off about 11, 12, 14%. there's been concerns about drug control prices from the biden administration this is a completely separate issue to covid that's been weighing on big pharma and these have big market caps that's another sector of the market that's been weak recently so there are pockets of problems here even though technology and communication services continue to hold up finally, around china, i know we're a bit concerned about the casino stocks. i just want to point out what's going on with ever grand this is one of the probably two largest property developers in china. huge, huge company, and we're talking about $300 billion in debt out there, and there's a lot of concerns here that's weighing on the chinese market there this is an issue for the high yield market globally. a lot of people have gone around the world trying to get high yields, even higher yields than they're getting in high yield market in the united states, which is below 3% righ

start looking at serious problem for this cycle, but clearly indigestion all around not just with pulte and retailers in focus again. let's get to frank holland for a look at what to watch in gamestop's report. >> the grand daddy of the meme stocks, gamestop, slightly higher ahead of earnings also a bit of a boost from amc's ceo. the comments came bought 3:30. the stock taking a down turn since then eps forecast to be a loss of 67 cents. analysts say that doesn't really apply to when we're talking about gamestop any details of the mysterious transformation strategy and guidance, they're just not expect bud investors are eager to hear details on either. shares are currently trading slightly above their 30-day moving average not seeing heavy retail interest in the volume but the stock still up more than 960% year to date back over to you >> frank holland, thanks we'll see you after the bell with those results josh, given the conversation we were just having, your take on gamestop and some of these other so-called meme names we've just seen essentially detach from fundamentals and, okay, i

pulte group, terrific demand in the home building sector, but they're talking about material and labor and having a little bit of a problem delivering product because of that same with sherwin williams and ppg, these big coding companies talking about material shortages and higher costs what's this all mean if you look carefully, these are industrials and materials and travel stocks. it's very clear there are some pieces of the economy that are decelerating a little bit. it's small parts of the stock universe look at the s&p 500. in terms of where it is from 52-week highs. go back to that prior full screen essentially materials and industrials are just barely off of their 52-week highs 5% and 3%, that's not a lot in terms of where they are from their 52-week highs. the other thing we want to note is the sectors that are growth, health care, technology, communication services, folks they're at 52-week highs they're at their new highs, and that's why the market keeps holding up if you look at the contribution in terms of earnings to these -- that these three sectors make, that's what mat

headwinds today, the main concern of course is cost pressures. 3m now joining ppg, sherwin williams, even pultem last week talking about higher labor and material costs we do have some negative seasonal trends, of course in september and october. some concerns about slower economic growth due to the variant. remember, we have a big ipo season coming up there's going to be a lot of new supply warby parker will probably be next week, not entirely clear, but it's going to be a really big season if the market continues to hold up, and that will be some supply issues overall. you heard about 3m, cfo talking at a morgan stanley conference, talking about inflation being higher than they thought in the third quarter. a whole list of everything that they have in terms of their material costs resins ethylene, wood pulp, labor costs continuing to be higher than they thought autos being lower due to semiconductor shortage consumer electronics and televisions also affected by the chip shortage. this is the cfo talking about how their business is doing, and of course they've got other things they're a huge o