. >>> from the biggest laggard to the bottom stock on the s&p 500, it is sysco, s-y-s-c-o. the company taking a major hit as it faces rising costs in the labor market. we got a presage of that on friday with the october jobs report, where we saw that wages jumped 3.1% year over year. sysco is now sort of the example of that. we had other sectors that are affecting this, too. the company reported weaker than expected profit and sales for the first quarter. right now, sysco is falling for a fourth straight day, on pace for its lowest close since may 23rd. the food distributor is also on pace for its largest percentage decrease since october 19th of 1987. yes, you would have to go all the way back to '87. right now, they are at $64.36, down 9.66%. >>> all right. to president trump in cleveland at this hour, campaigning for gop candidate for governor, mike dewine. outside of ohio, there is still a huge plethora of toss-up races, too close to call, including two major battles in florida. you have the senate race between governor rick scott and incumbent bill nelson. that is shap

sysco call ceo chuck robins asked about the impact of tariffs on his business. take a listen. >> the tariffs were immaterial to us in q 1 the 10% tariffs we implementwood a month to go and didn't see impact but i can tell from you a demand perspective when we implemented the pricing changes we which we told you we would on the last call we saw absolutely no demand change from the -- dsh you know the week before and week after we did that. >> he also talked about the macroeconomy, mel. said it's showing resilience that not many expected enterprise strength he called out. chuck robins saying that was consistent globally across the portfolio. in terms of the segments, infrastructure platforms that came in better and thaekted 7 plt 6 billion, the company's core networking offering related to switching and routing applications came in at 1.4 billion. security up 11% to 61.1 million. the q 2 guidance saying they did normalize no include thedy vised. grow on 9% on to the top none daup gap eps for more on what chuck robins you will hear jim cramer interview him. >> the

lemonis: sysco -- you owe $55,000. $140,000 in internet loans. square loan -- that's another loan.at's $40,000? -j: yes. lemonis: what's bill? j: bill is my wife's grandfather. lemonis: how much is that? $26,000? -who's debbie? -j: debbie's my sister. she also gave me some money as a loan. lemonis: so you owe her $20,000. -dan -- you owe him $30,000. -j: yes. lemonis: so that's $431,000 in debt. so you borrow money from family. you borrow money from the government by the taxes. you borrow money from sysco. if this business doesn't get real cash, i don't know how it survives. if da lobsta closes, you got a lot of issues. all the employees are out of jobs, the city comes after j personally for the past-due taxes, and j's grandmother, j's father, j's sister -- they all lose their money. it's bad news -- real bad news. if you don't have a job, what happens to you? j: i don't have any money. i don't have money saved. i don't take a paycheck. lemonis: couldn't you just go to your dad or your grandma? j: no, me and my dad are hardly on speaking terms. -lemonis: because of the money? -j: y

. >> time for the time trade let's go around the sysco systems this is not a big multiple get in there. >> grasso. >> pfizer thank good for veterans. >> tesla fade it which means sell. >> yeah my favorite guest all year and g.e. stick around call spread. >> that's does it for us "fast money. back on monday 5:00 eastern. don't move "options action" starts after the break and thank you, all the veterans out ther hey, what are you guys doing here? we've been helping you prepare and invest for retirement since day one. why would we leave now? because i'm retired now. so? we're voya. we stay with you to and through retirement... with solutions to help provide income throughout. so you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that, uh, tie. or the suit. or the shirt. voya. helping you to and through retirement. ♪ here i am, stuck in themyle with you ♪ ♪ yes i'm stuck in the middle with you ♪ ♪ and i'm wondering what it is should do ♪ ♪ is ht'soard to keep this mil from my face ♪ ♪ all over the place. ♪ - anncr: thankfully, pr

important to watch in addition earnings from macy, blue apron and sysco thursday brings relevant tailually and nordstrom and viacom rorpts earnings on friday shaping up to be another busy week. >> among those things i think cpi, the inflation numbers, right now it's kind of a raw nerve for the market the ppi was very hot today i think we are sensitive in terms of markets to any idea the fed is sticking to the plan for next year. >> but mike on the rates picture clearly we did see rates rise yesterday. but they came back nicely today. >> in fact at a point where you think they should be coming back oil is well down usually that kind of has an effect on muting longer term inflation expectations the yields are at the top end. in theory they should settle back and relief pressure on stocks >> also worth watching the latest brexit headlines, the latest today was that boris johnson's brother, joe johnson, the lesser known of the two, resigned but he wasn't actually a cabinet minister he was a junior minister i want not as high profile the fascinating thing on this is that despite his brothe

microsoft, syscos.even with the interest rates wishy washy, old tech is something you want to look at before looking at the fang stocks don't try to catch the falling knife i will lose an arm. >> quint and chris thank you very much. >> right recession fears weigh on the market. but the new survey revealing that's not the top concern of cfos we will tell you what is next. (indistinguishable muttering) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade. ♪ ♪ put your data to work on the cloud that drives business. the ibm cloud. the cloud for smarter business. the ibm cloud. ♪ max, what [ car honk ] do today? no idea huh? i got one. let's ste

staples is one of the notable outperformers in trading, up around a percent one notable laggard is syscocosts are eating away at profits something to watch there, guys back to you, sara. >> thank you. >>> coming up later, all day on cnbc, your money and the midterms we take a deep dive into sectors that will be most impacted by the vote and how to position your portfolio into tomorrow and beyond we have you covered, starting 3:00 p.m. eastern time david, see you then. >> evelyn davis died at the age of 89. the dutch american investor agitated company meetings more than 50 years. many of us remember being in attendance of some of those, there she's ringing opening bell she took a lot of ceos to task, carl. >> she said meetings were probably boring before she came along. gh that's rit. dow up 137 back in a minute alpha seems more elusive today. is it because so many go after it the same way, chasing after short-term returns? instead if getting caught up with the crowd, the investment managers at pgim take a long term view. uncovering opportunities for alpha across public and private market

to get up to speed on, which is the tariffs this is the quarter where the tariffs hit home not for syscothe companies have great secular trends this is -- even when you -- i had zebra technology on the other night. it's bar codes the bar code readers are made in china. they have a committee to deal with what happens if it goes to 25 a committee of people. they have a war room, basically. >> i have one more i want to get to it's been a small one i have been following there's not much else to follow. i don't know if you saw the bear rate on this. >> someone called me on that >> achc, there was nasty stuff going around on acadia somebody screwing around using my name. we will get you. >> let me help on that. >> please. i want to add that the process itself seems to have been stalled in terms of a potential lbo. kpr was a leading bidder i'm now hearing from people close to the situation that it's been stalled not looking particularly promising at this point. that's just a little bit of update on a small but well followed lbo that's been a bear slash a lot of hedge funds >> walmart leading th

is up about 2% year to date xilinx up near to date and sit rix up 20 % year to date last i checked syscout of correction but still trading lower. >> a lot of movement bertha, thank you for that let's drill down on the fang trade. since the close yesterday take a look at the big falls for some of the big names amazon losing a quarter of the value from the recent highs in early september. that amounts to just around $250 plus billion in market cap as of yesterday's close. facebook down after hitting the lowest level since february 2017 yesterday. it's now fallen over 40% from the recent highs in late july. then you have alphabet and apple joining their peers in the territory down 20 % or more what some folks call a bear market territory. 20% from the recent highs. 150 billion for alphabet with netflix down about 60 plus billion dollars. factor in the losses and what you have is $945 billion of lost market value more than apple's current valuations, but again with today's decline, apple and the other fang members are now either lower or hovering near break even the losses have eclipsed 1 tr

40 points drilling down on technology because that's where we're seeing the pain, netflix, apple, syscoand also semistocks. sales force, micron, and qualcomm sales force not a semistock but that is down 5%. pg&e is down 14% on pace for its worst day in 14 years -- 16 years. the company announcing that it will shut off power to 12,000 california customers as a safety precaution due to the fires. let's get to contessa for a new jup date. >> four car bam bombs by islamic extremes went off in sew mali ya billionaire bill gates is linking up with tokyo 2020 olympic organizers to raise awareness of sustainable development goals. >> countries like japan will need to continue to invest generously, actually, even more generously than they currently are. today japan spends about 3 to 5% of its aid budget on global health so there's an opportunity to do even more. >> reigning world chess champion defending his title in london this afternoon korana is a duel american citizen going on to win. he would be the first american to win since bobby fisher. >>> let's look at this incredible video just into

we have sysco earnings out and josh lipton has those numbers.e street was at 72 cents and revenue of 13.07 billion beats there on the bottom and top. non-debt, total gross margin comes in at 63.8%. in terms of the guide, q2, cisco looking between 71 and 73 cents. the street was at 72 cents and the q2 revenue guidance is up 5% to 7%. that's slightly higher than what the street was looking for just turning to the segments here, guys, infrastructure platforms, looks like it comes in at $7.6 billion, up 9%. applications 1.4 billion, that's up 18% security, 651 million, up 11%. other products 178, and finally services here at 3.2 billion that's up 3% year over year. comps kick o comps -- conference call kicks off at 4:30. now back to you. >> one of the tech-centric dow components, what do you make of it >> definitely in the stocks that have been more in favor, quality and stability of earnings which cisco has shown for years right now, so i do think that this makes sense that this is the kind of stock you would go to in this environment also up prett