gamestop chairman ryan cohen wants changes. narrow its focus and consider separating itself bye bye baby unit or sell the entire company. >>> kohl's is making changes under pressure from activists what the retailer ceo is calling a complete reinvention of its business model and brand it will open smaller stores to attract new customers and also concentrate on its sephora business wall street not very confident kohl's stock is down almost 8% right now. carl, i'll send it back to you. >> thank you >>> the russia/ukraine conflict continues to weigh on the market, obviously. the ruble just broke through 150. now worth half of what it was in early february before hostilities began. our next guest says it's still too early to read the tea leaves but impact on tech and supply chain, cyber security already being felt former cisco ceo john chambers joins us, investor welcome back good to see you again. >> carl, jon, deirdre it's a pleasure to be with you all again today. >> we've been talking to you for a couple of years now about broad

a $10 million buy by ryan cohen. the chairman of gamestop shares up 45% this week. there you go auto zone, bumble, docusign, natera and gamestop. we do this almost every friday it is the segment you will only see here on cnbc's "worldwide exchange" or go to cnbc pro to sign up today. all of the information is there. cnbc.com/pro >>> now to the major topic for companies, consumers and investors. raw material costs gasoline to wheat and sugar. you name it. not coming down off historic highs anytime soon nowhere is this possibly more important than consumers' wall e ets or businesses passing along the costs. joining me is eric ripert. the owner of the new york restaurant he will be honored at the new york gala next month they are doing great things to feed people in the metro area. eric, thank you for joining us today. please take us through what exactly it has been like for a restaurant owner now that we have tried to emerge from the covid pandemic >> well, it has been very challenging as you can imagine first of all,

what's fascinating about the response is, of course, ryan cohen, founder of chewy's., for like one fifth of what the company is worth now, five years ago, and created a company disrupting brick and mortar retail. there's no demonstrated ability to turn around one this is the third activist effort against bed, bath, & beyond in the past seven years or so. >> yeah, you bring up a really good point his roots are in e-commerce. what he did with gamestop and what he's learned from gamestop, according to people who know him well, is this idea that he now better understands what brick and mortar entails, how to transform a business into being more e-commerce focused and he's hoping to to the same thing with bed, bath, & beyond. taking a brick and mortar native company and apply those then to bed, bath, & beyond in terms of a tonaround. however, unlike with gamestop when he first wrote a letter to that company, it was all about the transformation with this one, you also have ideas of strategic alternatives, the spin-off of buy buy baby, the selling of the company outright tho

at this hour gamestop chairman ryan cohen, who founded chewy and jumped in to be an activist investortake in bed bath and beyond through his investment company. cohen sent a letter to the board outlining steps the company should take to turn around its lagging stock price which includes separating bayh baby and a -- buy if buy baby and a full sale of the company. if the stock has been down more than 42% over the past year. cohen is known for, yes, igniting that meme stock craze after he was added to gamestop's board back in january 2021. for its part, gamestop is down 12% today to $98.26 a share. everything's coming up clovers after board member chelsea clinton bought 100,000 shares of clover health investments. filings show the daughter of former president bill clinton and former secretary of state hillary clinton bought the stock last thursday at a valuation of more than a quarter9 of a million dollars. the health insurer has been lagging badly, down 72% over the past year, but this purchase that hillary -- that chelsea clinton has jumped in with has the stock popping 20% and stops

speak of ryan cohen, another company he ran is one of the picks today of our closer. company that takes care of their members. i'm a ice and owner. i think they have been beaten up pretty well. the 43-44, it looks like a solid buyer. no matter what the economy is doing, people will take care of their pets and go where they are treated best, and i think chewy is one of the best companies for treating their customers. >> why is the stock down 40% in the past year. >> we managed to create some gain. we got declining volume. high inflationary spirals. i think there are a lot of issues in the general economy, and we could pick almost any stock at random in a more expensed state and see it's down 40-50 percent. i think chewy is finding a bottom versus going out of business. lauren: this is a hard sector to be in because of covid and relationships to china. you like wi. -- you like wynne. why do you like wynne? >> laughs is passed. i think you will see a return. we have seen a spark in the chinese companies the last couple weeks. so i think we are starting to see some more a

see what the house can put together next week and where it leaves us bed bath the agreement with ryan cohenk. if you read through the lines of the release of ryan, who has become a good friend of mine it's been a reach out. bed bath, they want to sell buy buy baby i talked to mark and is doing a good job when the stock was at 17, i bought buy buy baby was worth a whole company. so i think that ryan cohen, there's his picture. i mean, he's taking little pit stop from game stone and getting buy buy baby sold. it's off to the races with the great ideas for gamestop. >> right. >> still waiting. >> still waiting but the apes, you know, are aided, as i said, the show trying to get -- make some sort of reparations irz gave money trying to save the actual apes as opposed to those guys giving money to save the market. >> one of the best. >> how about disney? >> i think going to say, wells has a good note. they're looking at management will be presenting some things about the marks. >> yes. >> in the coming days. their argument is maybe the street is too low. on park leverage, park attendance in the

plus shares of bed bath and beyond as ryan cohen takes the stake.ous reaction in the options pit. we've more when "fast money" returns. make fitness routine with pure protein high protein. low sugar. taste great. high protein, low sugar.. so good high protein, low sugar, mmm birthday cake and for a cheesy crunch, try pure protein snacks. you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ the future you imagine. every big idea every game changer every "how'd they do that?" starts here the blank page artists and writers know the tyranny of it well but so do developers, data scientists, ctos the new creators to them, we say let's create something that changes everything ♪ ♪ ♪ ibm let's create ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ >>> welcome back to "fast money. starbucks, mcdonald's, yum brands moving lower under pressure to suspend operations in russia. let's get to kate rogers with how the brands are responding. kate >> hey, melissa, well yum ha

. >>> and shares of bed, bath and beyond surging chewy founder ryan cohen taking a big stake in callingor changes. we're seeing a big move in that stock this morning carl >>> guys, we'll start with the markets and develops around russia and ukraine another weekend of very difficult headlines, david as far as energy goes, we did get to 130 we are exploring the full out ban of russian energy here, but the germans really can't afford to do that. >> no. so much of their energy use is based on the import from russia, not just oil but as we pointed out so many times, natural gas such an important of their electricity generation in that country particularly over the last year or two as they moved toward greener agenda and potentially decommissioning a number of nuclear plant. that might not be happening at quite the rate -- they may be using more coal than they originally intended as well. so that makes it difficult you know, and then morgan, the other question is, okay, if we do -- and in this country obviously our imports of russian oil are quite small. although there are some even though we

gamestop chairman ryan cohen just bought 100,000 shares bringing his total ownership to 9% he has a prettyturning companies around he was tapped to serve as chairman last year he cofounded pet supply retailer chewy and turned it into a booming business andologist husband a big stake in bet, bath and beyond >> bill is following the path of that violent storm that's now heading north. >>> and skating toward recovery. tony hawk gets back on the board two weeks after breaking his leg. like the splash they create the way they exaggerate the surprises they initiate. otezla. it's a choice you can make. otezla is not an injection or a cream it's a pill that treats differently. for psoriasis, 75% clearer skin is achievable, with reduced redness, thickness, and scaliness of plaques. for psoriatic arthritis, otezla is proven to reduce joint swelling, tenderness, and pain. and the otezla prescribing information has no requirement for routine lab monitoring. don't use if you're allergic to otezla. it may cause severe diarrhea, nausea, or vomiting. otezla is associated with an increased risk of depressi

one of the cofounders of chewy, ryan cohen, is now the chairman of gamestop.mania from march this is an ugly chart. we are looking at amc, gamestop and mullins some of the meme stocks down earlier this month now higher, higher, higher. right now up a very healthy 35% or more. the s&p 500 not so shabby up 5.4%. finally, let's check on oil because this is a driver for stocks being down. bit of a headwind, that inflation feel. brent crude up 3.3% almost $114 per barrel as the de-escalation and new york crude also higher. it will be interesting where that will end up. it does have a lot to do with what is going on in russia and ukraine. guy: certainly does. thank you very much indeed. let's talk about what is coming up the next 24 hours. kansas city fed president, esther george, speaking at the economic club of new york. president biden delivering remarks on the fight against covid. and it is the end of the corridor. kailey: this quarter felt like it was a year long. a lot has happened in the last three months and more will happen tomorrow. we get the opec meeting

chairman ryan cohen did tweet he purchased 100,000 more shares raising his stake to 11.9% and the stockrally today, jon, as we did get a halo effect on other meme names and we'll see how long lasting this wave may be. >> some people do have an edge how is that different from a casino again the house always wins. >> hasn't it always been that way though, guys that's nothing new. >> what is new look at peloton, affirm, chewy, warber, ahsana, close to 7%. this volatility, the velocity of some of these moves, dee, is something else >> of all of the things you can pick up at a discount, which is just evidence, carl, that the snapback is happening whether it last, of course, still very much an open question >> we did get morgan stanley saying they prefer affirm. the chip executives wrapping up their testimony on the hill. let's get back to ylan mui >> carl, that hearing is still going on and it's clear there is bipartisan support to provide the $52 million from washington. the money isn't free democratic senator ed markey one of the ceos to assure him that they would limit the impact to the e

board after less than a year saying he was unhappy with the strategy of the chairman of the board, ryan cohenke a listen. >> i asked to be part of the team to develop the strategy. i knew the business. i knew it as a consumer, as a vendor. i had pretty strong opinions on how the business needed to be visited, but i was rebuffed. the perspective was, reggie, we want to keep the team small, so it will be myself and a few of the people i brought on board. by the way, who don't know the business, don't understand the players, etc.. i took that as code as thank you, but we really don't want any other ideas. for me, that was not acceptable. emily: so what do you think of the strategy now? >> there has not been an articulated strategy. you can go on the gamestop website and try to find a strategy but there is no articulated strategy. the leadership says you won't find it because we don't want anyone to steal the strategy. you know? i come from the business perspective that you need to articulate your strategy to all of your key constituents. you need to communicate to your business partners, vendors

>> of course it has something to do with ryan cohen who is the came and he bought a 10% stake in bed, if you do the at it's roughly $150 million or so that he spent but here is what the market is reminded of remember in late 2020 when he bought 10% in gamestop and joined the board in 2021 and that's what ignited that famous january 2021 meme stock rally. now, he has no plans right now to join the board of bed, bath and beyond, but he says he has committed elsewhere but he did write a letter to bed bath saying i need you to change, well he needs to change company, he hints that the ceo has been overpaid despite under performance, and he also wants bye-bye baby to be sold of spun off so bed bath is actually down 45% the past year and think what he did for gamestop when he bought in, it was what, $30, $40 it went all the way up to 480 during that meme stock frenzy, so some people think he has a golden touch, you know, he's very popular on reddit and social media so will the wall street bets traders go along with ryan cohen? stuart: i'd just like to know what he's up to, he seems to be cr

. >> ryan cohen. oh, yes, and four-member committee selling bye bye baby.e a look at the dow winners, ibm look at that, it's at the top of the dow winners list $130 a share, s&p 500, drex com meta platforms up to $223. nasdaq winners, dexcom, et cetera. i'm intrigued at meta platforms because they were way up 200 bucks a share not that long ago now they are rallying to 222. >> i'd keep an eye on the chip makers we talked about yesterday. stuart: yes on the upside. thanks, susan. iran says it's closer than ever to a nuclear deal with the united states, and yet, the iranian regime still hasn't stopped enriching uranium. roll it. >> now you have an iran that is enriching uranium at 60% which is in every practical sense almost military level. stuart: so why are we going ahead with a nuke deal that would ship iran's uranium to russia? we'll talk to a foreign policy expert, morgan ortegas shortly. joe rogan dumps on tech executives and he says it's like the lunatics are running the asylum in silicon valley. california guy steve hilton probably agree with joe roga

the fcc shows ryan cohen had bought 100,000 additional shares raising the stake to almost 12%.t my money where my mouth is, jim. >> good for him. >> yeah. i think the memes are back they took up amc, somehow it's related. i think what we've lacked, of course, is a plan. numbers weren't that great for game stop. we don't understand what he intends to do. once he plays it out, i think we can make a judgment. i like bed, bath, and beyond there's some technology needed try to figure out whether they define the two these a man of great history and he comes in just when ring that they are desperate. it's kind of like -- >> he needs cheering up. >> they were down. they were down they're a cohort they care about two stocks but i think they care about amazon and tesla but they've got -- i would love to see what he's got i don't understand yet the ceo that conference call is one of the biggest jokes i've ever seen no questions taken but i think warren buffett warren buffett doesn't take questions. i just -- i want to a plan other than just buying stock you know, the apes love that they w

the purchase to avoid the supply disruption >>> shares of bed, bath & beyond surging on news that ryan cohene in the retailer he is calling for the retailer to update the turn around plan and explore a sale. >> big shares. we will watch that closely >>> as we head to break, continue to watch the action in the russian ruble falling this morning versus the dollar. he equity trading in moscow is still not on the move. vladimir putin is declaring russian companies may pay bond holders, but only in rubles. russia has bonds due on march 16th which do not have the option to be paid in rubles. if russia decides to pay in rubles, it would be considered a default cointopmgaacrdg jorn chase. we're back after this. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones getting the incredible iphone 13 without t-mobile, let's partner for all of it. makes as much sense - as playing hide-in-seek... - ready or not, here i come. ...in the desert. really guys? t-mobile has more 5g bars in m

something is wrong with a company that got its start in 2011, with ryan cohen is still losing money overng gross margin and increased add spending and rising competition, i don't see how the story ends well for chewy shareholders there were analysts hinting this company could run out of money if it keeps spending like this they have a decent balance sheet. now they say that it doesn't need to be put down. but considering the company lost hundreds of millions of dollars, free cash flow turned negative again last quarter, that is no longer the same position ever since the fed has declared war, that companies that make things and do stuff for aprofit are the ones people want to own. and even better if they return some of the profits to shareholders that is our mantra for the cnbc investing club and it should be your mantra. chewy is exactly the opposite. it sells other people's products and losing money in the process with no hope of profitable on the horizon. let alone dividend buybacks. and i often get calls about companies that are similar to chewy. especially on a day looike toda. wall

it's up about 45% right now, this morning on news that shoe is co founder and gamestop chairman ryan cohen few years. cohen has reportedly told executives they should think about selling the company and spinning off its bye bye, baby chain as we take a live look at the big board, doubt, jones, dan now. 550 points. it's dropped about 100 points more in the last hour. the now the s and p 500 also down about one and three quarters of a percent and the nasdaq hanging on to 13,000. just about a month ago, it was at 14,000, the nasdaq down 240 points. the russian invasion of ukraine is threatening the world food supply. ukrainian farmers have been forced to leave their fields and ports along the black sea that sent wheat and other food staples around the world. those are shut down. ukraine is the fifth biggest wheat exporter in the world. the war is already driven up the price of wheat. it's also a major supplier of corn and the global leader in sunflower oil. netflix and tiktok have suspended most of their services in russia. tiktok's says russian users will no longer be able to post new videos

we saw where chewy cofounder ryan cohen took a stake in bed, bath & beyond.nt. warren buffett, finally found something to buy other than his own stock. he aggressively bout occidental petroleum last week. that is serious bottom-fishing, rob. i'm sure you have some names you're looking at when ever the dust settles whenever that might be? >> charles, i'm a long-term investor as my clients. most of them are younger. they're looking out two or three years. unfortunate now, charles, the names you want to be in are names getting hammered the most. technology is obviously what will control the future allowing companies to be more profitable, changing our lives. in today's market, step in with a toe and dollar-cost-average and not expect to make money next two or three weeks because it will not happen. we're looking at technology names, roblox, airbnb, everything being beaten up charles, unfortunately that is what i'm buying. >> that is what investment is all about. these same oil stocks two years ago said they were done. people said they would never come back. i ha

say gamestop tacking on to gains from yesterday when the video game retailer rose 30% chairman ryan cohen's investment company bought 100,000 shares. there's gamestop, stock is higher by more than 12.5%, amc was a top trending ticker on meme stock site ape wisdom, according to partners, shortsellers in three original meme faves, gamestop, amc and tesla, lost $2.32 billion yesterday. okay, tesla is back in the trillion dollar market cap club, as it tracks toward a seven session winning streak up 34% over that stretch. the move maybe due to tesla opening its germany's manufacturing facility yesterday and ceo elon musk tweeting earlier this week about his master plan three, which may involve scaling up tesla, but again that news, that german news, a big jump for tesla as you can see. it's kind of come back a little bit. it was stronger earlier in the session. adobe one of the biggest laggards today after a lackluster current quarter forecast. the photoshop maker has been facing increasing competition and expects a revenue impact of 75 million for fiscal year 2022, as it halted product sales in

of a tiny investment in the speculative gold minor, or the 25% gain in game stop after chairman ryan cohen bought a decent chunk op stock in the open market. i'm calling this all rank speculation. now why did these moves bother me because they're signs of froth and froth is the enemy of the stock market, especially when we're as overbought as we are. more than 6 on the s&p oscillator more than five is beginning to get dangerous. we had crypto went up today. these again are speculative assets when you see speculative assets soar, you have to worry about the longevity of the recent recovery because froth comes at the end of a run, not the beginning. you know we've had a nice run here speculative stocks have been hit the hardest since the fed announced its battle against the inflation last november. statistics the nasdaq plunged more than 22% from peak to trough. the russell 2000 small cap index plummeted 23%. the heinous renaissance ipo etf lost nearly half of its value. and don't even get me started on the d spac etf it's down more than 67% from its high now you might think it's unfair to j

has ryan cohen been buying more stocks? >> the fun has gone out of investing.ocks are fun. yeah brian cohen 900,000 shares, that brings gamestop to 12%. he is tweeting that he put his money where his mouth is. single-handedly putting on the short squeeze this morning, 24% gamestop is still being shorted in 2022 from the gamestop means stock saga. in $400 million in losses. >> if ryan cohen buys the shares in the news gets out, although those people who are shorting the stock now have to buy it so there is a short squeeze. that is why is that nearly 70%. >> look at the reddit, amc is tightly correlated to how gamestop trades. their thinking is going into my gamestop, they're probably getting going and by the other mean stocks as well. >> understandable i got that. i want to have some fun i want to see elon musk dance. i believe he was dancing up a storm. stuart: maybe not as much in shanghai but celebrity tori. that is the stuart varney shuffle. stuart: since when have you seen at a wedding? >> i haven't seen you dance or at a wedding. >> is not very exotic is i

gamestops, which had a phenomenal week last week, thanks separating gel handedly to ryan cohen buyingt do you have on beyond meat? susan: piperdown grading, maybe expecting lower sales, lower expectations from that mcdonald's, the non-meat burger rollout or plant-based ones. stuart: beyond meat has not been quite the spectacular winner it was supposed to be, has it? susan: there is a lot of competition and sales are not living up to the hype. not the swag bags. stuart: thanks, susan. walmart. i have got the story. walmart up a fraction today, but they are ending cigarette sales at some stores in california, florida, arkansas and new mexico. a spokeswoman said the company which use the space more efficiently and sell items like candy, grab-n-go food. that is walmart for you. >>> up ahead, the mayor of new york city says the big apple is a laughingstock as crime runs rampant. president zelenskyy pleads for more help accusing the west of cowardly behavior. alex hogan on the ground in ukraine with more. president biden raising eyebrows after saying putin can't remain in power. roll it aga

if we take a look at shares of gamestop, up 14% after chairman ryan cohen up his stake.ctivist investor, also the founder of chewy. everything he touches turns to gold. investors want back in on that stock. that went up 700% lasted. speaking of, this is amazing. i had not heard of this one. curtis, our producer, put on mullen automotive, up 4.4 percent. in march this stock is up 700%. meme stocks, they are back. guy: that is quite the ride in this environment. we will come back to that one. want to break some data right now. crude oil inventory data out of the united states, the inventories fell by 2.5 one million barrels. this according to the eia. bloomberg built a survey coming into this number, it was expected to fall by ticks hundred thousand barrels. we are many orders of magnitude higher in terms of the draw we are seeing. pay attention to this. obviously what is happening right now is we are seeing significantly higher prices. we are through 120. nearly 121 on brent. we are seeing oil prices rising sharply. then you throw in the geopolitics. the debate in europe

he's behind bed, bath & beyond conversion and ryan cohen backed by -- >> yep. >> is there agitating.at could b 50-year low since my mom passed away it was 40 years ago. they attacked her and i like that it shows me exactly how distinguished and thoughtful they are. >> that is terrible, jim. >> yeah. speaks of the consumer, we get nike tonight which has all kinds within it. >> yeah. i'm going spend the night because the conference call is so inciteful there are people covering their short very aggressively today and friday and i think that nike has surprise, surprise, surprise, the problem with this quarter is china, to me, anything i don't know i think that i never want to bet against nike at the same time, obviously, you know, big market of china. >> yeah. by the way, we mention the boeing story at the top of the hour boeing about 60 points off the dow, which is managing to open and hold some early positive gains here. >> you know look, i was surprised to show boeing down 11 when i got up. before the max we used not presume it was a boeing problem. it's interesting. >> yeah. it used

that's important because rc stands for ryan cohen.of chewy, invest tie taken him in a massive stake in bed bath & beyond and they want the company to explore sale, or sale of units like bye-bye baby unit. got the stock up 75% a lot of characters and drama unfolding in that particular trade, joe back to you. >> and you may question their strategy, too. they don't sell beds >> they sell -- i don't know bath stuff. >> they don't sell beds. changing -- bed bath & beyond. why would they go beyond beds and baths? >> they don't sell bathtubs either. >> i was going to say. >> dom, i respect, there are serious things going on in the world. can i just ask you about "march madness" for a second. which way are you leaning? who do you think is the top three teams in your view right now because it's coming? buffett on to talk about that? "march madness"? >> you can ask him. >> give me that million dollar -- >> watches every day >> go ahead ask. >> give me that million dollar, get everything right. >> guaranteed it last time you didn't send it in la

certainly getting a boost there about that news about an enhanced stake being taken by the chairman ryan cohenumber of the big semiconductor names as becky mentioned. these two in particular are ones to watch because the ceos of intel and micron are both going to be testifying before the senate committee on commerce making the case america needs to invest more in semiconductor manufacturing and government subsidies are going to be part of that story and whether they will help the semiconductor business so watch intel and micron, and by the way the ceo of intel will be on in the 8:00 hour of "squawk box" eastern time later on this morning, a must watch interview there. and finish off with shares of apple, arguably the most important company in the u.s. markets because it's the biggest market out there for the market cap weighted indices this is following a second day of averages yesterday for many of its services including itunes and parts of the app store and their podcast business >> dom chu, nice to see you, my friend >> good to see you, too. >> now to a story we've been talking about all mo

the video game retailer chairman and activist investor ryan cohen buying a hundred thousand shares bringing total number of shares to 9.1 million and 11.9% ownership in the company, gamestop saw its biggest one-day gain since last march and the move continues this morning. rest of the market meanwhile looking lower, futures indicating a decline at the start of trading even as money continues to move into technology, it was a big tech-led rally yesterday. this morning the dow industrials down 84, the s&p down 14 and a half and the nasdaq lower by 55 but check out big tech and growth stocks yesterday sending nasdaq up 2% on the session. we had big move on the upside at 4:00 o'clock as money found home in growth. dow industrials 254 and the nasdaq up 2%, 270 points higher. joining me common wealth financial partner brad mcmilan and joining the conversation all morning long fitzgerald principal keith fitzgerald and senior journalism fellow mollie hemingway. great to see you this morning. brad, kicking things off with you, what's the take on the rally that we are seeing in the last week and a ha

. >> that's where ryan cohen thinks the opportunity is. it is not just having more people come in and look at the vaporizers and check out the brita filters and the like. >> i have been -- i shouldn't admit this >> you were just there you can't get away from it >> i wasn't just there i have been there a couple of times when the keurig machine. i don't know how to clean the machine. you can clean with vinegar >> you throw it out? >> if you bring it back, they replace it with a little bit of a fee. you have been renting it and or lease it i shouldn't say this i'm giving people ideas. >> that's like me admitting the gas thing yesterday sdp >> you can get the new keurig. you don't have one, sorkin you have the george clooney thing? >> i think we may be fancier than the keurig. >> in terms of everything. >> we have the coffee pods >> you have the nespresso. >> the nespresso and the keurig. >> anybody see it last night >> the game? gonzaga? >> all of them the only reason i mention it is this is going to be rare for me to be able to do this. i've