terry lundgren has been ceo for 13 year, jeff gannett for 33 years.hey know the good and the bad with macy's. they pointed out to me on the phone macy's is the third top seller in their category while online, so perhaps while they're certainly more skewed to stores, they are still doing a decent business online. they've been given a lot of credit when it comes to that idea of omnichannel and pickup in-store. they've come a long way. certainly there's more that could be done. as of right now, macy's and the board thinks jeff gannett can do it. that's been in the process for at least the last two weeks. >> does jeff need to be much more innovative and sell teslas like nordstrom's is going to reportedly do or does he need to make sure they keep on rating well and do what they do, bricks and mortar and online retail and do more of what they have? >> i think the retail environment is changing day by day. the environment ahead of us is different than the environmental in the past. staying the same doesn't work anywhere. >> courtney, thanks. we'll see you la

. >>> macy's ceo terry lundgren plans to step down and that is where we begin tonight's market focus.fter 14 years as ceo, lundgren said he would leave that role in the first quarter of year to take on the position of executive chairman. the retailer's current president will succeed lundgren at ceo. shares of macy's up more nan 1.5% today to finish at 3338. >>> twillio made a stock market debut. the cloud communications company offered 10 million shares at $15 apiece, show shares began trading at $23.99. a nearly 60% increase above the initial public offering. shares soared 92% on the day to $28.79. >>> blackberry posted a sharp decline in revenue in the latest quarter with results falling short of analysts estimates, despite the miss, the smartphone maker beat profits targets and forecasted a smaller than expected loss for the year. the ceo spoke an the company's next move. >> i'm looking to now open to license my software, my headset software and interfaces to competitors in the making bess side of the equation. thereby i think margin better, ba balance sheets more protect and growt

people seem to like that deal as terry lundgren will be moving to executive chairman next year. >> wedo have a lot of retailers up. i'm a little -- i just think that the home depot call, which basically says, hey, listen, maybe you don't have to worry about all of retail is also helping. i think there's a kind of a sense, look, terry just in the last year didn't have it, we need someone else. but would i come back and say, yes, they need jeff bezos to resign and work at the "washington post" full time. that's not going to happen. when you go out here, everyone has a view on microsoft, a view on apple and google. then they'll talk about amazon. it like, wow, yeah. amazon. no only does no one have a bad word about amazon, everyone is worried about web services and it means, what can it eviscerate next, if you're a brick and mortar retailer, other than walmart, dollar tree, dollar general and walmart really put them off to the side, you're shaking. i mean, you're shaking because amazon's so smart and so powerful. no one knows what to do. it's just no one's ever seen anything like it. >>

investors were shareholders or activists are looking for more on the real estate -- david: it is terry lundgrenemain as ceo until 2017. >> he will still remain as chairman and he will have a need on the board. he will not be as directly involved as ceo. david: jeff genette has been with macy's for some time. >> he understands the culture. he was on board with the mom strategy. in line toirst pioneer many of the -- fromgical initials an operational standpoint he's probably going to go ahead and take the same page that kerry had in his playbook. terry had in his playbook. you may see something on the real estate side. david: even some activists pressing on real estate. in evenew ceo comes from inside, they bring their own ideas. what might he pressed for on real estate? the flagship is key real estate that they own. will they find a way to monetize that? that's probably their biggest asset. we will see if he unlocks any shareholder value from that. david: thank you so much. for a rough first quarter for the ipo market we are seeing a resurgence in volume. the latest billion-dollar tech company go

that is after the ceo terry lundgren said he will be stepping down. president of the company jeff jeanette will be taking over not until the first quarter of 2017. lundgren will remain executive chairman after the transition. here on chart bloomberg. if a stock is risen about 150% under his tenure, although it has had some considerable ups and downs, mostly downs as we have seen a downturn and retail broadly, and that downturn is reflected in the same store sales numbers under his tenure. are negative same-store sales. there have been some investors that have been pushing for macy's to monetize its real estate. r bloomberg intelligence retail analyst said that may be one of the reasons for this succession plan being announced. we are looking at fertilizer makers, and that's because of potash. india close to signing an accordance with belarus. companiese fertilizer and industries are rising today. we are looking at that ship related companies. rbc is talking about western digital, saying the company should benefit from improving demand for chips. those

. >> does anybody look more like a ceo than terry lundgren? >> i didn't want to say. >> you would say give me lundgren. >> i think they'll really miss him. he does look just like james bond and he's a fabulous ceo. yes, i do think we'll miss that aspect of terry as well. but i think jeff is going to be great. >> all right. >> i think the world is -- >> thank you very much. >> through are. more now on today's vote in the -- on what it could mean for your money, the vote in the uk. and all day we're going to hear from the british as they leave those polls. >> because i want the brexit. i don't want to be part of europe. >> yourself? >> the same. arel company. we've always been an innovation company. using technology is a critical differentiator. changing the expectation that the consumer will have for what a sports brand should be for them. this is where we're going to need a big, bad, technology partner. bring in. cue the bell. sap. under armour is a live business. we can anticipate the issues and needs that you're going to have using live data

shares of macy's higher after ceo terry lundgren announced he is stepping down. company president will take over as ceo. lundgren who has been ceo since 03 will remain as chairman. more what is happening right now in the u.k. trish: immigration very much the center of britain's eu vote. many britains are nervous with what is happening with germany's open door policy. germany welcoming million muslim migrants into the country. adam shapiro is in berlin. i have to ask you, do you think angela merkel regrets that decision to open the floodgates to migrants coming in? reporter: no, i don't think she regrets it. she is in support welcoming migrants into the country. at least in germany she talked about that in the past. she actually pointed out essentially have a flat birth rate. they need immigration to germany to help their economy the. i have not had a chance to meet with angela merkel. she in previous press conferences, didn't bring it up in today's press conference, supported decision to allow immigrants to germany. trish: there is a lot of at stake, right, polit

little parade of their own today after america's biggest department store chain announced the ceo, terry lundgrento done a lot of great things for the company, is stepping down at the beginning of the year. he will remain as executive chairman, but stock is up 2%. >>> what do sean hannity, construction, wounded warriors and lizzie claman of "countdown" have in common? well, it was a life-changing night for some of america's greatest heros. we'll tell you all about it. i was there, so proud to be part of it, next on "countdown." 9. ♪ ♪ finish this is your daughter. and she just got this. ooh boy. but, you've got hum. so you can set this. and if she drives like this, you can tell her to drive more like this. because you'll get this. you can even set boundaries for so if she should be here, but instead goes here, here, or here. you'll know. so don't worry, mom. because you put this, in here. hum by verizon. the technology designed to make your car smarter, safer and more connected. put some smarts in your car. when a moment turns romantic why pause to take a pill? or stop to find a bathroom? cialis

melissa: shares of macy's getting a boost after ceo terry lundgren will step down next year and currentresident jeff gannett will take his place. the retail chain is struggling to adapt to changing consumer habits. the stock is down more than 53% from this time last year. david: wow, that is a big drop. >>> "the donald" is short on campaign cash but will not stop the gop candidate from promoting a new trump golf course in scotland. melissa: latest allegations in the hillary clinton email scandal. how the former secretary of state put her own interests above national security. >> hillary clinton, and as you know, she, most people know, she's a world-class liar. just look at her pathetic email server statements. you can fly across welcome town in minutes16, or across the globe in under an hour. whole communities are living on mars and solar satellites provide earth with unlimited clean power. in less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. and if you thought that was amazing, you just wait. ♪ intensely-flavored.. colorfully-div

combine that with the early departure of terry lundgren from macy's and the retail from brexit. the economy was sluggish, their word, not mine. i don't want to freak you out about fedex. the people were down, the strength of e commerce, which was thought to be robust going in. brexit really does make fedex a less attractive equity. sometimes, stocks create their own negativity because they run too much and i think that's whey accenture and adobe really plumeted, but neither set the world on fire. we're used to both putting up amazing numbers. it didn't do that. brexit's just a further damage. my bottom line, wow, housing, auto, tech, transport, retail. all worse than expected before brexit. that and not the possible disillusion of the european union, is what makes me circumspect than usual i would add, when it comes to picking at the opportunities presented by this particular nasty sell off. steven in new york. >> hey, jim, interesting day today. gl i felt that way. that's up. ? >> calling about nike. an iconic american company with brand recognition all over the world. it's a m

remember, terry lundgren has been at the company for more than a decade, but he is going to be leavinge first quarter of 2017, when president jeff jeanette will take on the role. lundgren will remain an advisor. this is a big change at macy's since he is been there for so long. shareholders seem ok with it for the day. shares of by about 2%. look at the bloomberg here for what the stock has seen under and he becameure ceo back in 2003 when it was still called federate. it changed to macy's in 2007. the stock has rallied quite a bit since then. , and thena recession more recently, the overall downturn in retail. here are same-store sales on the bottom, negative stretch during recession, and a more recent negative stretch. best inas once viewed class within the departments for industry but has suffered from headwinds facing that industry overall. it has also faced pressure from investors in order to monetize some of its real estate assets. lundgren has not acted on much of that, so some analysts say perhaps his departure might have something to do with that. barnes & noble, as well, thos