still, keeping an eye on all of these trends. >> let's talk some revlon.e is pretty fascinating things, unfortunately, are getting pretty reugly for the beauty company they are hoping investors trade in their bonds at a steep discount because otherwise they could be worthless revlon shares down 73% and market cap has dwindled to a paltry $300 million and need 95% of bond holders to participate in this exchange in order to stave off prints and that's just for now, leslie. how dire is it >> it's a pretty dire situation. 95% participation from the bondholders it is now small number they have tried this in the past and they haven't gotten that participation, so a lot of people are looking at this including the credit rating agencies and say if they aren't able to exchange the debt and in this case it's about a third of the value, then what's going to happen is there's going -- it's going to trigger an acceleration of a lot of the remaining debt on their balance sheet to be payable november 15th and the credit rating agencies say this could cause a liquidity cr

the pressure has sent revlon stock down 73% this year, and it bonds into distressed territory.ny is owned by billionaire ron pearlman who has been selling town homes, yachts and even his art collection as of late, guys. >> we were talking about that in the last hour. it kind of raises new questions at the time those around pearlman said he was doing it because he wanted to simplify his life, but maybe this is a more direct reason >> reporter: right well, it's unclear we don't know exactly what his exposure looks like aside from the equity there's a theory based on news reports that he has debt coming due at his holding companies, mcandrews and forbes no one really knows how much or how the various complexities lie. but you're right he told vanity fair that the reason for selling off all of these various assets is because he wanted a simpler life i mean, who could argue with that >> yeah. look, i get it myself in the middle of the pandemic, wanting a simpler life having debt like this due, and having your company be in a situation like that might explain a lot of the fire sale t

>> revlon, rev >> revlon, i am mr.t going to go down to revlon el is going higher and that, ladies and gentlemen, is the conclusion of "the lightning round" >>> "the lightning round" round is sponsored by td ameritrade. . free access to every platform. mhm, yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. now offering zero commissions on online trades. we charge you less so you have more to invest. ♪ state of the art technology makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $359 a month for 36 months. experience amazing. at your lexus dealer. >>> just like real estate, stocks are all about location, location, location you'd rather have the worst house in the best neighborhood than the best house in the worst neighborhood >> the house of pain. >>

>> that payment to revlon was the trigger.y is not enough this was suggesting it was enough to get it over the line for a full review of risk management and it was not good enough in the eyes of the occ and the fed. in terms of the timing of mike horvath's departure, they've reported a number of times that it does seem that was a factor, at least in the timing of the ha handover being groomd to take over as well the pandemic, having an impact on the timing, if you're going to regear that out of a pandemic, might as well hand over the reins when you see the scale of a $400 million fine, can you understand that. >> citigroup down, what, 1.5% after hours? >>> meantime, demand for alcohol is booming amid the coronavirus pandemic as consumers drink more at home, that growth may not be enough to offset the losses florida bars and restaurants. global food and beverage company suntory holdings, third largest whiskey maker and well-known brands like jim beam, maker's mark, many others. revenue is down 10% from a year ago. joining us no

number one, revlon ceo currently warning bond holders of the key proposed debt exchange at a steep discount pearlman says the repayment could be at risk if 95% of the bnd holdond holders t agree to the plan. >>> and the senate judiciary committee has postponed the vote on subpoenas to force tech ceos to testify to discuss anti-conservative bias on social media. >>> and china's top ridehailing firm is moving on with its own ipo plans, they are considering a public offering next years targeting a valuation of more than $60 billion adetess ridesharing also not de y dow futures up 173 ♪ for skin as alive as you are... don't settle for silver ♪ gold bond champion your skin >>> your morning rbi is perfect because the rbi today is actually about baseball. really baseball and money. because according to game time website, world series ticket prices are soaring the cheap seats, so to speak, are going for more than $1400 a piece. and one lower level ticket is for sale for $17,000 and you may think, so what, sounds kind of normal. but remember, the entire world series is being played in texas. it is n

now, one of his biggest holdings revlon has been in a very precarious situation, its shares down morejust this year alone amid the pandemic but it is certainly interesting especially when you look at this continued churn of items that he has been selling >> and none the less a beautiful super yacht. >> indeed. i wish i had an extra $106 million to purchase that >> same here >>> on deck, why our next guest says wall street is giving up way too much on this washington election when it comes to your money. and you can also watch or listen to us live on the cnbc app we started goodrx in 2011 because too many people in the united states can't easily get to a doctor or afford the treatment they need. that's why goodrx has built a leading consumer-focused digital healthcare platform. we wanted to make shopping for healthcare as easy as it is to shop for travel or electronics. as a public company, we hope to provide even more services that help people get the healthcare they need at a price they can afford. >>> welcome back it is 5:50 a.m. on the east coast. stock futures pointing to a higher

sees the lead of revlon. he thinks leader of companies. he thinks he's the leader of her family. he thinks he's a leader of our children and our businesses. that's exactly the opposite that's true. the governor is not the leader of the citizens lives or their businesses for their families. the governors of job is to run the executive branch of the state government and keep it within the confines of the constitution which is the rule of law. he raised his right hand and swore an oath that i will uphold and defend the constitution of the state of washington, and he's failing. article one, section seven said no citizen shall be destroyed in a private affairs. i think we been disturbed in a private affairs quite a bit by this governor. >> thank you. >> mr. culp, , you've said you o not believe there is systemic racism. how do you explain some of the disparities for example, the median income of white families in seattle is 2.5 times that of black families understand people are hospitalized with covid at four times the rate of white people in king county? .. i firmly believe that is t

i was president of revlon for a point in time. we also broad pamela baxter on admission ocean.so mixed those talented with board members like mindy grossman were ww, you know, weight watchers. or jeanne bianchetti who created a mighty new york. and how do you bring those people forward in a very, very spectacular way? so we are focused into those things that are moving forward all things measured. thanks that are good for you food ingredients, the things that power up what you are doing in food. it is really more new consumer with a core into what has been. >> what about any beaten down, cheap assets that might have been suffering, whether that's because of the shift to online that they might have been left behind on or because of covid? would you be attracted to some of those assets if they were very cheap >> if it doesn't have the unit economics and the consumer mindset that's going to take it forward we would rather let that go off to the nice graveyard, you know, that's there in retail that you are seeing this past year we are not going invest in what was. our whole idea an

i've got your favorite tool over here, hoda many of us are diy'ing our beauty look at home and this revlon is a great investment. >> i should do a commercial for them because that is my favorite item of all time it looks as close to a professional blowout as you can get doing it yourself. >> it's a total game-changer. >> let's talk makeup because savannah and i were doing our own for a long, long time. is there anything that can make that any easier for folks at home >> yeah. so eyebrows can make or break your beauty look so we found this really awesome waterproof eyebrow pen on amazon it's just $12.99 it's got a four-prong tip. the reason it has that design is to create hair-like strokes so in a few swipes you'll get a natural-looking full brow. it's an amazing product that everybody needs in their makeup kit >> can anybody do that or do you have to be professional? >> i did it in two seconds just a few swipes. that four-prong tip really helps get that natural look. >> all right, okay so let's go to cleaning for just a second we only have time for this last item but it's a product that do

they have booked the full fine that was put on them recently because of that payment to revlon, whichquarter. expenses are higher than expected on the trading room, which we didn't talk about with jp morgan, a theme here for both of them, which is that we're massively up year over year in trading. both fixed income and equities, down quarter over quarter, which highlights where we are in the q1, q2, ahead of where we were at this time last year but not quite as strong as second quarter. we'll see how that plays out for the likes of morgan stanley and goldman sachs. citi group, i don't know if we've got the share price. similar themes to jp morgan, improvement on provisions for bad loans but not quite to the scale of jp morgan, up 2%. >> that's what i was going to ask you real quick i think so many investors are focused on the provisioning issue, not so much as it relates specifically to citigroup but what it may say about the economy and where we are, and where we're going. you're suggesting it's not to the same degree, why. >> citi went from 7.9 billion to 2.3 billion. the theme is k