. >>> and newly minted gamestop ceo ryan cohen is telling the work force on day one. >>> later, the week long special holes on and today's pick is nuclear. a very busy hour still ahead when "worldwide exchange" returns. stay with us. you're probably not easily persuaded to switch mobile providers for your business. but what if we told you it's possible that comcast business mobile can save you up to 75% a year on your wireless bill versus the big three carriers? it's true. plus, when you buy your first line of mobile, you get a second line free. there are no term contracts or line activation fees. and you can bring your own device. oh, and all on the most reliable 5g mobile network nationwide. wireless that works for you. it's not just possible. it's happening. >>> welcome back to "worldwide exchange." look at u.s. futures and the dow would open up 100 points higher. s&p up .30%. nasdaq up over .50%. let's look at europe with the trading day with joumanna bercetche in the london ne newsroom. joumanna, good morning. >>> that's right, frank. we figured it is the last day of the trading mon

has launched an investigation into ryan cohen over his trades and communications and officers at bed bath & beyond. cohen pushed for changes to the company's sales strategy before selling his 12% stake in august of that year. that is just days after tweeting positively about the company. frank, that investment yielded cohen a $60 million profit. >> a lot to unpack right there. ryan pcohen at the center. silvana, thank you. >>> turning back to the markets right now. the wave of incoming high profile ipos setting the stage for the bounce in the markets according to goldman sachs' david solomon. he sat down with david faber yesterday. he is watching a.r.m. and instacart. >> i do feel better about the capital markets. if you ask me to look ahead over the course of the next few months, especially if a.r.m. and other ipos go well, you will see a meaningful increase in activity. david, it is anemic amount of activity. if you go back to the second quarter, investment banking activity was at a ten-year low. it is not hard to improve off that. i think we could very quickly get back to what i ca

new ceo ryan cohen sending an email to employees. melissa has the details here. >> hi, melissa. so, ryan cohen, who was named ceo this morning, did not mince words in a memo that was sent to corporate employees and store leaders. basically said, the company is fighting for its survival. that was actually the word he used in the subject line itself. survival. and in the email, he noted that the company is going to have -- have to have, quote, extreme frugality, unquote, and he said that they're going to have to avoid a lot of common pitfalls of other retailers. so, he spoke about how they have to avoid buying bad inventory, using leverage and running expenses too high, and really laying out the task at hand, as we steps into this role. >> does seem really obvious, we're sort of chuckling here. i assume that game stop was already trying to do all these three things, so, i mean, i guess the implication here is that this period of austerity is going to be even more extreme than what had existed in the past? >> yes, i mean, it's worth noting that when he was named ceo this morning, i

and a company named ryan cohen as ceo. >> let's begin with the markets. we mentioned what the yields were doing today. jim, 50 basis points. >> i said that we would have the d inversion and that you couldn't really be excited about the stock market until the 20-year, which is at 4.1. it is now at 4.98. crosses over the fed's fund rate. that would be where you can finally say this market is getting interesting. it is oversold. but we can't seem to find any supply of oil near 100. 100 is supposed to bring out some supply and in the oil companies. but i don't want to give up here because this run has been so bad and it needs to consolidate. here's what i will come up with. we will have a test, i believe. i actually know the time, 1:43, 1:42. that's when we bottomed yesterday. actual time of day. >> that was yesterday, you're saying. >> i got to 3:00 to get this stuff right. of course, the dog relieved himself because he thought it was time to go outside. in the bed, no less. that's too much information. >> it happens. >> it should not happen. that should not

the sec is investigating ryan cohen's trades around bed, bath & beyond, so that is impacting bed, bath & beyond and other stocks after hours. a quick look at apple and some other chip stocks. they were some of the mega-techs that moved today and caused those indices to fall. apple down another 2.9%, taking nearly $200 billion off their market value. qualcomm got hit hard. this is more evidence the market is anticipating perhaps more crackdowns from china, or at least a ripple effect. the one outlier was intel. intel could perhaps be a hedging strategy for traders who don't want to be caught up in this whole mess because intel has other businesses. annabelle: u.s.-china tensions in focus but also policy divergence that is really playing out in the currency space. offshore yuan dropping to a 16 year low against the dollar. it's pessimism towards china's economy and financial markets laying into it. you can see in the other panel we are very close to the weak end for the currency. even as we know beijing has sought to boost the currency by asking banks to sell dollars while tightening liq

lauren: right, "the wall street journal" reporting that the sec is probing game stop's chairman ryan cohen his surprise sale of bed bath and beyond shares. the sec requested communication information from cohen with board of directors and others. he basically tweeted repeatedly and positively about bed bath and beyond and sold shares and netted a profit of $60 million. that news and he's the chairman of game stop is the one reason it's done. stuart: there's a gun maker moving and that's smith and weston up 11%. lauren: summer is seasonally slow for the hunting season, and their net sales in the quarter up 35%. stuart: hunting season in the northeast begins in november. lauren: is it? i thought september. stuart: in my area, it's the third saturday in november at dawn. that's when rifle hunting season begins for deer. lauren: where is it in the southern part of the country? all the time? i'm looking like an idiot right now. stuart: no, putting me on the spot. lauren: i'm not a hunter. stuart: let's move on. warner bros discovery. lauren: they're up almost 3% and ditto for paramount. bloombu

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. >>> after surging earlier on the announcement ryan cohen will become ceo effective immediately, nowactually losing all of the gains that they had, and the success is down about 1%. the meme stock darling says cohen will, quote, not receive any compensation for his role as president, ceo and chairman can and will continue to engage in various business activities and pursuits outside the company. of course, cohen founded chewy, was the ceo, very successful guy. has taken a stake many gamestop. the video retailer stock is dropping as investors believe that declining sales of physical video game software will sink gamestop. >>> workday, oh, boy. this one's plunging to the bottom of the nasdaq 100, falling nearly 9% after lowering its target for subscription revenue growth for fiscal 2027. the business operations management cloud application company revealed the news at its analyst day today. shares are on pace for their largest percentage decrease since november of 2020. >>> and investors are hitting the brakes on car max. stock is down nearly 13% at this hour after the company missed a

lauren: yeah, and it's the executive chairman, none other than the billionaire activist investor, ryan cohenonsible for the surge two years ago when he joined the board: he will take no pay, by the way, as ceo, and investors are cheering that finally there is an executive steering this unprofitable ship after three months of having no one in that position. do you remember when gamestop hit $120.75 back in august of 2020 the? now 17 and change. stuart: in three years. how about that. next case, the chipmaker, micron. down, that's interesting. chipmakers have been doing quite well recently. is there a problem here? lauren: guidance. they're forecasting a wider loss in this current quarter. there's weakness in pcs, and there's weakness in smartphones. so this demand recovery, let's say it's off to a pretty slow start. i think there's plenty of positives that investors are dismissing today the, but the analyst community is not dismissing the positive. demand for micron memory chips from the a.i. sector is very strong. the ceo says the price of memory chips has bottomed out, so that's a good thin

allan, thank you. >> thank you all. >>> in today's launched an investigation into ryan cohen. bed bath & beyond. cohen took a $120 million stake in bed bath back in early 2022 and pushed for changes to the company's sales strategy before selling his nearly 12% stake in august of that year. the sale came just days after he tweeted positively about the company. that investment yielded cohen a nearly $60 million profit. it's why the s.e.c. is coming calling. >>> former ftx executive ryan salem pleaded guilty in new york federal court yesterday to campaign finance and money transmitting crimes. he agreed to forfeit more than $1.5 million in his part of his plea. he admitted that in 2021 and 2022, he steered tens of millions of dollars of political contributions, says here, to both democrats and republicans, i guess, in his own name. when the money actually came from alameda research, the hedge fund arm of ftx. he says they were made at the behest of sam bankman-fried. in bankman-fried's trial is set to begin on november 23. >> there have been a number of former ftx executives that

. >>> let's bring you the breaking news gamestop's board officially electing ryan cohen as the new ceo effective immediately. he had been serving as executive chairman while the companyducte. cohen will not receive c compensation for running the company. he owns 12% of the company through his rc ventures. worth noting, the s.e.c. investigating cohen for his sale of bed bath a& beyond shares. he had board members on that call before folks understood what was happened, he sold out of those shares the s.e.c. looking at that and the ceo of this company. >> going public. was that on twitter? i'm trying to remember the details. he spoke about it. >> it was back in march of last year he had announced his ownership stake in bed bath. i believe -- >> quickly afterwards. >> afterwards, he turned around and sold the shares. s.e.c. is looking at that. the board, clearly, is feeling confident enough in whatever that case is unless they want to take the risk to make him ceo of this company. >> i'm glad we got this on quickly. far being it from us to not report gamestop news immediately with the game

hours after being named ceo, ryan cohen sent a memo to employees to emphasize he will take dramatic steps to ensure the struggling video game retailer survives and the email obtained by cnbc, extreme frugality is required. every expense at the company must be scrutinized. the company has no use for delegators and money wasters. cohen will not receive a salary in the new role as chairman and ceo. he he said i'm not getting paid. he made the case -- is it blockbuster or is it best buy? sg g geeky employees help you with the video games. >> digital business. download it like an app. >> one blockbuster left or it was? it may be in alaska. >> really? >> a great documentary. it was on netflix. the last blockbuster. great film. is it that? >> i don't know. for a while, that was the reason it went short and everyone squeezed the shorts and it became a movie. now we're back to reality. the brick and mortar with the game suppliers. does that really have a future? does it have a viable future? >> i was in one maybe a month ago. >> you were? >> back to school shopping. we stopped by. they have a lot

this is this guy, ryan cohen. the shares have jumped 10. he makes the shares jump jumped 10.jump a so in 2020, i don't jump a lot. so in 2020, i don't know if anybody can remember, but had but during covid, everybody had their checks their sort of lockdown checks and nothing to do. so people started investing in meme stocks. gamestop was stocks. and this gamestop was was one of them. and it's shares ran up . they jumped 1,500, ran up. they jumped 1,500, i believe. and they did it to squeeze to cause a short squeeze. so big hedge funds were were shorting the stock because when you borrow the shares to then sell at a later date when they've gone down and you make money on difference. so by money on the difference. so by making the shares go up, you're forcing the people then buy forcing the people to then buy them later date. them at a later date. >> robbie did it in >> when margot robbie did it in a bath yeah, yeah. >> when margot robbie did it in a b but yeah, yeah. >> when margot robbie did it in a b but i'llah, yeah. >> when margot robbie did it in a b but i'll takeeah. >>

and -- sorry, ryan cohen, and the s.e.c.igation that the "journal" had. >> that's a complicated issue. now, he did get three people on the board of bed bath, margery bowen, march 25th, his people, and then he said he gave a positive tweet during this summer, august 12th, and then about -- he had, well, an emoji, smiling emoji in response to a negative cnbc story. he said that, at least our card is full, had a picture of a woman, and then he sold the stock not long after, sold his whole position after he gave the positive emoji on august 12th. i'm calling it quizzical if not ill advised. >> we'll see where they follow through on that. >> the s.e.c. is still the s.e.c. it's not criminal. if you get that s.e.c. notice, by the way, you can't throw it in the waste can. it's not like shawn fain from the uaw. you get it, you got to call a lawyer, and what the lawyer says is, they use terms which are, like, you know, there's a bad set of facts here. when they say "bad set of facts" what that means is you're about to have brain surge

. >> just this week ryan found himself in another studio, the brand-new seacrest studios inside new york's cohenopportunity to step into seacrest's shoes. it is the 13th seacrest studio across the country with another to open in salt lake city later this year. >> i'll be your daily host in the seacrest studio. i wanted to do something that made an impact but also was tangible, so i came up with the idea to develop these state-of-the-art media centers, content centers, broadcast studios, that become the heartbeat of these hospitals. and the idea is to create that energy and destination for patients and families to totally escape if they can, just for a few minutes, what they're going through. >> it has to be so gratifying to say, all right, i'm here. what do i do? what do i give back? >> the kids that are in these children's hospitals miss birthdays. kids miss proms. and we want to create a place where they can continue to celebrate that, make friends and connect, and that's what these studios do. >> broadcasting is how seacrest has connected since he was a kid growing up just outside of atlanta.

trump claiming cohen's spread false oath and violated attorney client privilege. nbc news justice reporter and author of seditious hunter ryanhow january 6th broke the justice system, the book is coming out next month. by the way, who knew, congratulations to you. i cannot wait to get my hands on this thing, and i also have you on to talk more about that book. let's talk about the news, though, even though the former president will not be in georgia, what are we watching for coming out of this arraignment this week? ming out of this>> how many defe gonna actually end up showing up, i think that is still an open question. some people could ultimately await their appearances. but i think overall in this case, what's going to be interesting is figure out how exactly this is all gonna go forward in terms of which the defendants are going to go to trial sooner because there is this effort by the prosecutors to try to bring all of these cases together, to try them all at once. but i think it is probably more of a long shot because defendants of course have a right to prepare how they need to for trial. and even though some of them