down 2% despite the comp sales beat >>> visa is also out seema mody has the numbers >> visa seeing aat. $1.31. revenue higher than expectations at $5.49 billion versus estimate of $5.47 billion thanks to new vendor and merch apt additions, payments volume up 8% in the second quarter. keep in mind cross-border growth slow in line with expectations visa increased earnings outlook for 2019 we are looking at shares down about 1.5% but this stock has really been on a tear up 22% so far this year. close to its all-time high the conference call starts at 5:00 p.m we'll get you more details when they come out. >> seema, thank you. we want to take visa or chipolte >> visa is interesting that was one of the very popular, arguably crowded megacap growth stocks people were into. the numbers look fine, on target with revenues. beat on the bottom line. to take the money off the table reflex, not a surprise similar with chipchipolte. hard to know after more than a double in the last year. 50 times earnings forward multiple obviously, doesn't surprise you to see it just wobble a little bit. >> and y

protectionist modi might make economist policy a bigger concern for both citizens and foreign investors. >> seema modyoins me now it's interesting you brought up this idea of moving backwards because especially we saw some headlines in regard to amazon and walmart over the last year or so. even if modi wins or doesn't, as friendly a place for u.s. business >> that's the big concern. even if he does, likely with a coalition where he doesn't have much latitude to get economic reforms in place additionally, more protectionist over the last few months with the e-commerce rulings that make expansion for amazon and walmart, which now owns flipcart, much more complicated. the reason he's doing that is because he's trying to protect the small business, mom and pop shop that dominates india's retail market, making up over 80%. they've been complaining and to win the political vote, makes sure he protects his base and doesn't allow these two companies to really dominate the space and take market share from them. >> that stock market rally has been incredible. so we'll see if this is a repeat of that or a break

seema mody >> that's exactly right. china's manufacturing activity, returning to growth for the first time in four months. may have eased global slowdowns and not so fast. in europe, manufacturing data came at the lowest level since 2013 lower by italy, france, and germany. as you can see right here. three countries seeing a significant decline in manufacturing activity furthermore, it is in a manufacturing recession. two factors there, weak auto sales and a softening economy. so far, this hasn't stopped global equities from having a strong start to the year germany just posted the best quarter since 2015, up 10% over here at shanghai composite with the best quarters since 2009 this year, already up nearly 30%. the question is, can these global equities continue to outperform this year really comes down to three major factors, a trade deal, the fed and the direction of the dollar. guys, back to you. >> seema, thank you. seema mody. >>> also helping boost stocks, better than expected economic data in the united states. s

seema mody >>> shares of lift rising to $74 a share, higher than its original ipo price is that a good look forward to other unicorn ipos around 60% of ipos actually had negative total returns after five years following their first day of trading how should investors play the big ipos this year joining us is jason drayhoe. great to have you with us. >> great to be here. >> i found that the bottom line is very interesting and that is if you can't get in on the allocation don't bother. is that just for this round of unicorns or in general >> that's been historically true, that the best returns are if you can get an allocation afterwards if you're buying on the first day and really the opening price is almost a first full day return. if you're going to buy that day or the day after on average ipos have been average performers over six months and if you take like a multiyear view they've tended to underperform but it's very kind of differentiated there's a number of companies that an underperform have negative returns as you mentioned. there's also a handful that have spectacular returns.

what is fueling this seema mody knows >> one primary reason stocks in asia did pretty well overnightthe manufacturing activity in china jumped unexpectedly in the month of marchrising for the first time in four months. experts say, though, one data point certainly does not make a trend and it's too premature to call this a china recovery it is enough to get the market excited. china stocks rallying. the data point in other parts of the world show manufacturing is still on the decline. manufactuy contracted at its slowest pace since march. due to weakening economic conditions in china and europe and within europe germany and france pmis worsened that's a warning sign for broader europe that nation dealing with a number of acute situations including political stresses incoming the yellow vest protests and the ongoing brexit concern. overall the key question is whether the u.s./china trade dispute will be resolved given the negative effect of tariffs on other parts of the world. that's why investor attention will turn to. >> all the markets that we just highlighted are sophisticated dev

thank you so much, bill griffeth, seema mody, don chu. >> we will ask facebook's former chief of security this keeps happening and how it can be stopped, next. i 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 level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪ >>> facebook's under fire from seemingly all sides these days, including its own ceo calling on lawmakers to regulate his industry the company just removed hundreds of fake accounts in connection with to next week's indian elections, the same place the next guest calls the most interesting battle ground for internet regulation. shares are up 30% this year, coming off their best quarter since 2013 for mor

we have an earnings alert on bed, bath & beyond seema modi is at headquarters with more. >> melissa,s been an active stock to watch bed, bath & beyond shares are lower and it initially sent the stock back to 7% after hours and it detailed its guidance for the first quarter 7 to 12 cents adjusted the street was looking for 29 cents and furthermore, full-year revenue expected to decline each more than what the street was anticipating projecting an annual sales decline the ceo says the company is prioritizing the transformation plan to streamline its cost and improve the revenue growth gross margins and launching private label brands interests from activists and investors has excited the stock this year. it's up about 65% in 2019. let's pivot to costco which has also had a nice run this year. same-store sales for march up 5.9% and 20.6% for e-commerce as it tries to fend off competition from amazon and whole foods, just 6% of costco's sales stores and costco stores are with in a mile though shares of costco are lower right now. >> seema, thank you. seema modi, for bed, bath & beyond and

seema modi, nightly business report. >> and here in the u.s. senator elizabeth warren unveiled a plan to tax the largest and mostpa profitable ces and it's a plan she says will raise $1 trillion over the next decade. john harwood is with us tonight from washington so, john wha exactly is senator warren proposing? she's pro ssing what call, sue, the real corporate tax that would be 7% that would be levied on corporate profits in excess of $100 million. if the company makes less than 100 million and small business and medium sized business wouldn't touch them at all and 7% is the amount. >> why not increase the existing corporate tax. >> elizabeth warren is arguing theporate tax doesn't work. it doesn't capture a lot of corporatth income because o deductions and loopholes that corporations could use. amazonsshich you dis earlier in the program made $10 billion profi in2018, didn't pay any federal income tax. whattsarren wo do is to apply the tax to the amount of srofit that's reported on this financial stateme to shareholders where corporations d

scott cohn seema mody joins us today with today's european action. >> we'll look at the eurozone currencyat a two-year low against the dollar heading for its fifth weekly decline in the last six confidence among business leaders in germany and manufacturers both fell unexpectedly in april. and we had those weak pmis across the eurozone yesterday. a trio of earnings reports l highlighting the challenges among european banking and the auto sector. deutsche bank reporting a big profit jump last quarter but revenues in investment banks a weak spot, down 13%. rbs also reported stronger than expected profits but warned that macro economic uncertainty around brexit will make income growth challenging more evidence that the auto sector remains weak in china despite signs of a rebound in other consumer driven sectors, daimler reporting a sharp slowdown in profits. sales at its mercedes-benz division falling 3% in china this after peugeot offered weak guidance that is a sector to watch. the auto sector in china makes up about 4% of china's gdp >> among many other sectors to watch in china thank you

seema mody has a breakdown of the action >> and it is a lower close for the european a markets after mega mergers have been scraped the first one, uk regulators blocking a deal between the british grocery chain and the walmart owned company with concerns over higher prices. the combined company would have overtaken tesco as the largest chain. walmart now expected to consider either an ipo or a sale. and deutsche bank ending talks after six weeks of negotiations. the question now becomes could this open the door for foreign rivals to acquire cemmerze bank. >>> pivoting to a theme that we've been watching, slowdown in china, two earnings reports offering a mixed picture first peugeot issuing a weak forecast citing weakness in the chinese auto market. on the flip side, hermes saying luxury being a market that is less sensitive to economic headwinds. and may remember last earnings season that was a big trend that we saw that despite the economic data telling us that china's economy is slowing down, luxury retail continued to cite strength in china. stwe we'll see if that continues. >> al

. >> guys thank you both seema modi and paul christopher. coming up top four excuses for people make for not investing and why "fast money's" analyst is not having any of it and tips is not having any of it and tips on how to get started. locked eyes and continued dancing. pinch myself and make sure i'm not dreaming. every now and then, i'm like, "wait, did that happen?" (gasps) i've got photos of it, it must have. (vo) get more music on us with vip tickets to the best shows, like shawn mendes and camila cabello. plus, save big when you switch. only on verizon. >>> welcome back jeff bezos will keep control of amazon in a divorce agreement with his wife. that news crossing just a few moments ago. let's get more details from robert frank >> all the discussion but what really matters is what we just learned what will happen to 16% shares of amazon that jeff bezos owns he'll keep 75% of those shares mckenzie will keep one quarter of those shares. she will now own 4% of amazon. so this was a massive win for jeff bezos she was entitled to get half

let's go beyond the numbers with seema mody >> this has been a stock to watch.s stock was up about 7% on better than expected earnings, but as you can see just dipped into negative territory. here's a story earnings beat $1.20 adjusted versus estimate of $1.11 revenue came a bit lower than expectations at $3.31 billion. it also saw comp sales in q4 decline 1.4% so it did see strength in digital sales. also increasing its dividend by a penny to 17 cents. the company is updating its transformation plan which includes a number of initiatives, including near-term and ongoing gross margin improvements through changes and assortment mix this is a stock that has received activist interest three hedge funds own a 5% stake in the company urging them to change their board the company says it's undergoing a comprehensive review of its composition of its board shares, though, down 0.5% here the conference begins at 5:00 p.m we'll get the full story back to you. >> seema, thank you. >>> this stock is up 71%, mike, since the start of the year. the truth of the matter is it ha

. >>> after the break, live from the deck of a norwegian cruise ship where seema mody is sitting downk. >> reporter: melissa, we are aboard the norwegian sky recently underwent a massive gut renovation the question, will it pay off? speaking to frank del rio, cup after this break woman: my reputation was trashed online, i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. they were able to restore my good name. if you're under attack, i recommend calling reputation defender. and consider joining their groundbreaking campaign to give every american the right to remove old, inaccurate search results by going to righttobeforgotten.org. vo: if you have search results that are wrong or unfair, call reputation defender at 1-877-492-6705. >>> cruise lines are giving their fleets a bit of a makeover norwegian has invested up to $1 million since 2014 sima >> thank you, frank, thanks for joining us today on "power lunch. >> welcome aboard. >> it's been fun to see all 12 decks of the norwegian sky this ship underwent a huge renovation why put

and it's simple, easy, awesome. >>> seema mody at the nasdaq marketsite way look at what brought us thereeconomic data and upbeat earnings and there you go. the nasdaq closing at a record keep in mind the composite still needs to surpass its intraday all-time high of 8151. but with this week's gains the nasdaq up over 20% so far this year the big winners today included amazon, netflix, verisign. but it's important to note this market story really extended beyond technology. a number of companies hitting 52-week highs today. outside of tech. comcast, starbucks, with that com sales number out of china which came in better than expected workday among others hitting 52-week highs. nasdaq would have not much higher if it wasn't for intel's underperformance in today's session. but we will keep an eye on the semiconductor space next week. a number of companies with notable china exposure report including seagate and with everyone digital semiconductors and what we're seeing in the smartphone space of course will continue into next week. apple of course will be a big topic of discussion as well.

here with youric thats are dominic chu, seema mody and robert frank first up, got to talk ipo s.here are lot of under-the-radar names. we saw zoom's huge opening last week how about jumia technologies, pager duty all having megadebuts jumia is up 150% zoom up 77%. guys, i mean, this is a craze for one of the most boring sounding parts of the ipo market how did it get so hot? >> they're underperforming not underperforming, undercovered these are gems that you can still find outperforming analysts got to cover them more. these are the ones you can find an out performance in opposed to uber or lyft or pinterest. >> and pinterest has done okay 30% gain is nothing to sneeze at everybody is just burned by what happened with lyft >> to me the lesson here was the opposite i was surprised how many companies were doing so well when you looked at the business models there's one here fut 2 holdings. but the revenue maker is a subcompany that's got a weird relationship and they're under investigatio or inquiry for possible money laundering and the stock is up 27%. so this is the federal reser

i'm seema mody and this is "futures now."under pressure today, down more than 1% and sliding below a key level. let's bring in our traders scott nation, starting with you, what's the big catalyst here for gold's next move >> interest rates. higher interest rates are absolutely kryptonite for gold we see it down $16.50 right now. all of the inflation data that we got this week, the jobs data we got last week, it all says that the majority of the fed committee members who see rates being unchanged through the end of 2019 are wrong and they're likely to be higher. rates are likely to be higher. horrible for gold. >> trading right below 1,300, brian sutland. what levels are you watching >> well, i think if you're a technical analyst on this, i'm looking at 1295 on gold here a close below there would be pretty bearish and we could probably trade down to 1260 at that point i have my finger ready to go on that sell trigger button until then, i want to see how things shake up. 1295 up to 1320 is still the range in play and if global

. >> seema modi back in the newsroom there are questions what would t-mobile and sprint do next and in terms of the competitive landscape with more player, there's probably more price competition and that's yet other carriers are down, and i know this sounds counterintuitive, but the more players are out there the more likely they're to cut prices. >> if you read the wording as currently structured which is interesting. i would look at and say mine this 9.5% sell-off in sprint is an opportunity i don't think this is necessarily over and for me, i know t-mobile is down four bucks and i get it and sprint's down more percentage wise and i would view this as an opportunity to buy sprint i do think in some way, shape or form this probably does get done >> you have at&t and what does it do to at&t if anything in. >> i think there's an enormous headwind in the performance of at&t's stock because of the cellular business and there's no directv and the cash flow elements of that business and the trends over the last three quarter have been great. as you said, maybe they've us sprooed spr introd

. >>> welcome back to the halftime report i'm seema mody and this is futures now.oline futures under pressure today down just 1% the sell-off comes as the price at the pump sees a record 71 days streak without a decline. let's look at our traders, jeff, i want to start with you what does this mean into the summer driving season? >> reporter: seema, pain at the pump rbob gasoline up 17% year-to-date in conjunction with the ongoing crisis in venezuela in libya and the iranian sanctions on may 2nd that's rattling the crude oil market, moving prices higher i think that pain at the pump here at chicago, we're talking about $4 a gallon and maybe $5 a gallon as we see taking away their main asset of crude oil. >> geopolitics in focus. you've been looking at key levels for gasoline. what are the charts telling you? >> in crude, i think 75 is my target now above 65 and if that's going to happen, then gasoline is going to follow it up into the 230 level. right now today's weakness made me think there was going to be a buying opportunity around 208 but then late day strength

i'm seema mody gle futures, translating at the pump up 11% in the last month what does this mean forg into a very busy driving season? >> well, i think as we head into that driving season you could see gasoline push further from here really it's gas and oil tracking the stock market we saw back in december and january, the change in rhetoric from the federal reserve basically they want to push inflation back into the market here feeling that when we saw the treasury yield curve flatten, a sign with that basically they want to reflate this all back and increase that treasury curve, get that steepness again. that affects commodity prices and why gasoline is cooking higher i think it continues another month or so. >> got it. scott what levels are you watching >> i don't know if president trump is a technical analyst, look at the chart. interesting. his latest tweet about crude oil and gasoline prices hit as gasoline was getting back it a trend line we've recovered that level that's interesting also i think it's interesting from a fundamental point of view that today crude oil and gasoli

i'm seema mody and this is foos churs now. dollar trading at two-years high as we see weaker-than-expected data out of europe let's bring in our traders if europe continues to this point, should investor go long on the dollar? >> i think they do if you look at it from like sweden to turkey to the whole eurozone, when they're all saying they can't get inzplafla to 2% and you see the eurobuen to 0%, to me it's completely worthless. i don't think you see the euro get down below a dollar, 80 cents, 90 cents, that will put upward pressure on the dollar and why it's on the upper end side i think that continues maybe a pullback here and there but i think the dollar pushes above 100. >> anthony, you say the dollar is hitting a key level tell us more. >> yeah, $97.67 is the number we needed to break through and we're above that now, seema. we need to hold that number. then move to 98. that's the next bit of resistance after that it's 100. i think the gdp is decent tomorrow i think anything above 1.7% or 1.8% will put another leg under

. >>> welcome back to "the halftime report," i'm see seema mody copper rallying after stronger than expected. bob, starting with you, copper now at its highest level since july is this all about china or something else >> it's mostly about china the dollar is down marginally, dollar index down 0.4%, actually less than that right now as i speak to you so it is mostly about china. that beat on gdp i've said for a while now, copper is sort of the indicator as to how good the trade talks are actually going not just the rhetoric between the two governments. you're up at the top of that channel, you mentioned july, that sideways channel started in july as we broke down into it. we're at the top of it seasonality might help it break out. >> brian, on that note, is this moving copper justified, given that we still don't have a trade deal >> well, i think what copper is doing, when you take a look at the correlation between the s&p 500 and call it fxi and etf tracking chinese stocks, since the start of the year, those have all correlated to the upside together. stocks are slightly outpacing some of t

we keep our eye on at least the first chapter of earnings season to seema mody this morning, get a cnbc. >> here is your cnbc news update at this hour climb change protesters disrupting rail and road networks across central london they set up camps on roads, stopped trains from running and blocked bridges in the city. more than 250 people have been arrested they are urginging the government to be more active in tackling environmental issues. >>> the french prime minister paying tribute to the firefighters who fought the devasta devastating blaze at the notre dame cathedral he said they risked their lives for france and the country must rise up to the level to face the challenge. >>> michelle obama telling a crowd in paris to be strong and have faith in the wake of the fire, this during a trip to promote her best-selling autobiography "becoming. >> be strong in times like this, we have to believe in each other, we have to use these times to unite because notre dame will be rebuilt >> yes, it will. >> you have been through worse, as so many of us have. so now is the time to be strong and

seema mody tracking that for us. >> a big miss on the bottom line $1.09 versus estimate of $1.26 revenuexpected the company referring to a number of challenges including increased purchase transportation costs, network utilization, lower productivity in the winter weather affecting regions. higher driver and non-driver salaries, wages and benefits just speaking of weather, the analyst community was worried a harsh weather season would cause higher shipping costs. you are seeing shares down about 4% what's interesting is the e-commerce industry and more consumers buying items online has been one of the factors that has helped the trucking industry for the past year. the company reporting worse than expected numbers today the stock down 4%. back to you. >> thanks very much for that >>> mixed earnings from citi and goldman sachs. also saw worse than expected revenue with citi's overall revenue 2% year over year. citi ending the day flat goldman down about 4%. sarat, this did weigh on all of the banks today in a way that if you put wells fargo side on friday, all of the banks lifted. so what

seema mody has the details >> we're watching volkswagen, daimler and bmw.orities are saying that germany's three largest car makers agree to secretly equip their vehicles with inferior emissions equipment and colluded to provide better emissions. it's a finding that as "the new york times" says could expose volkswagen, daimler and bmw to these concerns around air pollution in europe among other risks. this is a preliminary decision by the european commission but it was back in 2015 when this really got a lot of attention when volkswagen -- we were seeing shares of daimler down just about 2%. volkswagen under pressure as we read through these guidelines. >> next a top portfolio manager tells us four reasons why a recession is not imminent. >> later after a wild first week of trading we'll look at what lies ahead f lt. at cinuporyf [leaf blower] you should be mad at leaf blowers. [beep] you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. but you're not mad, because you have e*trade wh