i think walmart, if i was forced to choose, walmart over tjx, but -- >> nobody forced you by the way. >> i forced myself i have a strange personality defect if you look at tjx and ross stores, they were the early winners coming out of the pandemic because everyone who couldn't get goods wound up overordering. what do you do with overordering it sits. doesn't sell you take it, sell it to other stores they benefit from that that phase is over with. the ross stores and tjx are out of the sun you're going to do bet we are walmart, and they have grocery as well. >> grocery helpful in driving sales but walmart did point out last time those are lower margin sales. they're still profitable, but if they don't send more of the general merchandise it does pressure the margin. guy, about other names home depot reporting always a good read there with what's going on in the homeowner. we also know the spring weather wasn't great, and tractor supply pointed that out, a big ding for sales of products that have to do with the stores same thing with home depot what do you think? >> home depot on monday

walmart is the u.s.cer what we do with the shopping habits and move from predictive to prescriptive analytics where walmart knows what you want before you want it through the frequency of grocery shopping is exciting for a.i. and the future of retail is bricks, clicks and portals of the y-- portals this is a real physical retail year with the reopening. a.i. holds promise the bottom line is personalization and shopping experience making it easier as well as robotics and supply chain. that is a big deal advertising is a big deal in terms of taking dollars away from digital platforms. >> a lot of deals for walmart. i'll ask ahead of the report what is your rating? >> we are excited. 180 price target 5% comp. it is our pick ahead of target in how we are thinking of what we prefer. we rate both out perform walmart is a very prominent grocer with what we180 price target thank you. >>> coming up, the mining industry facing a wave of m&a activity it could face more with white gold search. >>> and the big money

keep stocks like walmart afloat, companies like walmart afloat.cks like walmart should do just fine. economically speaking things are looking pretty rough. many wall street analysts maybe wouldn't agree with my but the majority of middle class america would agree with me. honestly certain aspects are scary, couple which keep me up at night. middle america is in double-whammy. banks are tightening out buckles, not giving out many loans which has tighten impact. wall street was pricing in 5% chance of another rate hike. that chance is now 40%. we could very well get another rate hike, the cost of borrowing could go up. the biggest thing that keeps me up, amount of debt obligations, home loans, car loans, credit card debt continues to happen at 3.4% unemployment. imagine having credit card debt and living paycheck to paycheck, and losing your job? that is pretty scary. neil: i was doing pretty good before this segment. thank you, luke, for that. >> my job, neil to keep you in check. neil: absolutely. we need to keep that in check. jeff flock in check

walmart earnings especially talking about how we saw higher income consumers going to walmart storesuying the higher end groceries at walmart. the higher end beef than they have normally been selling. for walmart that is a low margin business. that is the thing we watch for. guy: thank you very much. simone foxman running us through the numbers. and joining us now to analyze this further is cole smead president and ceo of smead capital management what is the message for walmart? what do you think of the numbers? cole: there is no decline in the economy right now and that should frustrate economists and people who own businesses fighting the good fight. it is not as bad as people said. i think this continues to show the economy turns a lot whether you talk to target or walmart. it causes a lot of problems if you're trying to figure out how to put inflation back into the magical bottle. alix: are you bummed out that you own a target and not walmart for the next two days? cole: in the last few years which one would you rather own? walmart has been the winner in this. they've grown their

shares of both target and walmart down 2% this week. walmart beating target year to date which one is the better buy? with the bull case for walmart is michael baker, senior research analyst welcome to both of you target discretionary, if things tighten from here, are you sure this is a place you want to be >> we have outperforms at walmart and target we think a rise in target and has more potential it is more exposed as we look at the target story, look from last year and then going forward, we think there is a much bigger earnings recovery story here last year target earned around $6 we see $10 next year that's our enthusiasm around target, big earnings recovery story and discretionary will pick up and target has gained significant share discretionary categories, so i think you could super charge recovery next year if discretionary picks up again. >> a similar question to you, when does walmart do better, during times -- during heady times or belt tightening times >> we're seeing it right now the answer is during belt tightening times

walmart a place to get nearly anything from everyday produce to toys to tech. but it's what the company allegedly sold on its website that now has him in hot water with california attorney general rob bonta. it is unacceptable. let's be clear. that walmart sold such dangerous weapons or even made their site available. >> as a marketplace for their cell, he's talking specifically about brass knuckles, alleging the retailer and some of its third-party vendors illegally sold 250 brass knuckles like this one to california customers to the walmart website. even though brass knuckles are classified as a deadly weapon and nuisance under california law as a dad as a husband, as a fellow californian. i'm shocked that these weapons were out floating in our community, sold on a major corporate websites and horrified to think who has them and how they may have been used to announcing after his department and district attorneys from are set in ventura county has launched legal action against walmart. the retailer agreed to pay half a million dollars in a settlement and agre

size, the dollar value of walmart sales. expected to grow just over 5% this time around for those walmart u.s. same store sales, which is below the rate we saw last quarter at about 8% walmart also said december was their highest sales month ever so there's a lot going on sort of under the surface at walmart, especially as we're looking at potentially shaky ground for that core consumer >> and, you know, we're in this period of high wage growth but we still remember years ago when walmart was one of the first to start to put money towards associate pay. i wonder if they're going to pull a microsoft and say, you know what, we're going to maybe hold wage growth at the associate level morsteady this year that would be a big story. >> it really would i remember that day when they announced that big wage increase program. i believe you sat down with mcmillan at the time to talk about that they've continued on that program and they've continued to add beyond just sort of the dollar value that associates get, the benefits when it c

, and walmart any moment.he most optimistic thursday we have had in ages. it is percolating. what you think debt ceiling? target? jonathan: debt ceiling optimism. whatever that is. what is that? tom: i like what kirby said we did it many times. jonathan: we get numbers from walmart. adjusted eps a range of 610-6 20. the previous range 590-600 five. estimate was 614. the stock is higher in premarket. lisa: total u.s. comp sales x gas up 7.3% versus estimate of 5.8%. across the board beating and full-year adjusted eps coming above i -- expected excitations. they spent the rest of the year to pick up. it is confirming the view that there is more strength in the consumer. perhaps more strength in the economy and goes to the question of taking off listel risk of having a soft landing be more of a base case. tom: six point seven same-store sales nominal gdp equivalent that the nominal gdp may stay elevated and whether you believe in nominal or real, the wind behind you, sell book. -- sell vote. i get so seasick. i g

walmart a place to get nearly anything from everyday produce to toys to tech. but it's what the company allegedly sold on its website now has it in hot water with california attorney general rob bonta. it is an acceptable. let's be clear. that walmart sold such dangerous weapons or even made their site available. >> as a marketplace for their cell, he's talking specifically about brass knuckles, alleging the retailer and some of its third-party vendors illegally sold 250 brass knuckles like this one to california customers to the walmart website. even though brass knuckles are classified as a deadly weapon and nuisance under california law as a dad as a husband, as a fellow californian. i'm shocked that these weapons were out floating in our community, sold on a major corporate websites and horrified to think who has them and how they may have been used to announcing after his department and district attorneys from are set in ventura county has launched legal action against walmart. the retailer agreed to pay half a million dollars in a settlement and agree to

similar to walmart walmart over mcdonald's. >> agreed.ald's is rich, full, steep, whatever word you want to use. >> so good it's bad? >> later in the show >> later in the show >> something that's been terrible, it's now emerging. >> yeah. >> terrible but emerging dan, can you get onboard of that >> a bearish to bullish reversal i've been following his work for 15 years now the amazon thing is interesting. it's interesting that's where you went to. that was just, like, you snuck that in there -- >> that's okay, karen. >> would you rather rather >> yeah, but it's interesting you went there, because we spent so much time talking about the valuation of this company, how it's been associated with the high growth margin aspects of this in some point in a market like this, that might start to appreciate that tough, you start to get a little more valuation support there. >>> coming up, shares of materials, the stock is on the move after reporting results bring you the numbers next zbl >>> plus, negative sentiment dragging on bio tech, but our nex

walmart, target, home depot. who you got? >> definitely walmart and here is why.that the composition and this is what i'm looking to the numbers for , stuart. if the composition shows that consumers are beginning to shift back from the essentials to the discretionary items then walmart is naturally going to blossom particularly as they go online, compete head-to-head against amazon. that's good tort stock. stuart: you're spending more on food because you've got food price inflation, so you spend more at walmart rather than target or home depot. is it as simple as that? >> it is, because even the wealthy, stuart, have found it easier to go down-market than to go across-market so we're substitute, so that's why we've seen the growth in name brands, house brands, doesn't matter whether we're talking walmart, safeway, kroger, any of the big grocery chains. the consumer buying behavior is the same and it's important and valuable. stuart: so if we're looking at an economic slowdown in the future, and a lot of people predict that, walmart, would that be a good stock to o

the walmart, the walmart deterioration in the quarter, echoed the target deterioration in the quarter yet, you still hear the consumer is strong we heard that from the cfo of walmart. i think we have the comments he made to cnbc on this david rainy talking about the consumer here he says there's some strain on the consumer, and he used the word strain, but resilience has surprised us i think we have this quote there we go. strain on the consumer, resilience surprised us and i think that's important because dot, dot, dot personal balance sheets are stronger than they were prepandemic yes, david, maybe some strains and cracks, but even home depot, which is seeing a drop-off in what people are spending on home supplies and pad tio furniture, said the consumer is strong. to put a point on it, the atlanta gdp now tracker, which has been more accurate lately, came out, guys, guess what the estimate is for the second quarter? it's early. >> 2.9. >> that's not recessionary the fed is not necessarily targeting gdp but if you add that -- by the way drop in jobless claims which confirmed the fra

and that's the dynamic walmart, i'm long walmart, i'm less long walmart than i was three to six months ago, because i've been selling upside calls and slowly getting called away walmart is one of the most crowded trades out there you have to be careful when you own something like this, and if you look at expectations going into earnings, people are preparing, though i don't think walmart is going to disappoint, i think they have already seen some downgrade on the eps. so, again, be careful of these crowded trades we know walmart is defensive it's been defensive. >> and if we believe inflation is coming down, guy, should we be in a trade like a wall smart? gas prices are down 30% year on year, and so, if we are seeing these things come down, maybe you want to switch out of the staples kind of trade a little bit. >> i think, that's what, to tim's point, people are doing. we talked about it on friday the fact that you've had the stealth rally in walmart, taking us back to its all-time high and that's somewhat cou counterintuitive a couple quarters walmart was taken out to the wood shed in

>> well, i have target and walmart.er position, given where they are where the consumer is if you talk about the grocery business at walmart versus target, it's a very, very different thing. and what worked for target so well during the pandemic was not just groceries, but it was really more of the home goods, the apparel, all of that is much higher margin, much better for target than it is for walmart. walmart is definitely more expensive, i feel it's a little bit safer place to hide out. i feel like they have a better inventory management remember when bill simon came on and called their inventory apocalyptic and target's made apocalyptic look adorable? so -- and they still haven't fully recovered from that. so, walmart is a little bit safer, though it's more extensive. >> does this speak to, rebecca, in your mind, broader retail, or this is walmart and target >> there's a lot of micromanagement decisions going on here with how the stocks are trading. i kind of reflect on that and then try to tie it to the broader con

that theme is not playing out here what we see from walmart and target is the u.s.conomy is not in recession at all. in fact, it is growing >> yeah. that is certainly appearing to be the take away if you think of it as a snapshot looking ahead are there other signs of concern or anything that has come out of the report cards that make you think there are a few signals flashing red on the horizon that we need to watch? >> the consumer survey shows inflation is a real issue for many consumers because as the earnings show, people have to buy essentials that is what they put their weight on. that goes that far that means at some point the substitution that we are seeing and that shows results and sales will start to bite into the performance of the companies if food inflation doesn't ease and in addition the health care costs are rising and rents are not easing and that is the worry with the consumer gets weakened. i think the surveys are indicating that is the biggest struggle consumers have and they are not deterred from spending, but that is ahead of us. i would watc

in both cases, walmart may be a beneficiary. the street is incredibly bullish on walmart.oing into these earnings, there were zero analysts followed by bloomberg that were saying sell the stock in a vast majority were saying bye. when we look at the price movements today, maybe people got ahead of himself and were coming back to earth and maybe a lot of this is priced in. matt: 37 buys and 11 holds in the average prices $134. thank you very much. thanks for giving us a rap of the walmart earnings and still ahead, we will speak with nina flynn why some family offices are headed to stocks and private equities and we will talk about the high network individuals. this is bloomberg. ♪ the first time your sales reached 100k with godaddy was also the first time your profits left you speechless. at the counter or on the go, save 20% with the lowest transaction fees and keep more of what you make. start saving today at godaddy.com matt: this is bloomberg markets. time now for the wall street beat. family offices that manage money for the ultra-wealthy are getting ready to unleash a

you know what, hold on for a second we got some walmart numbers. >> walmart is out, the number -- we'reourtney. courtney regan. >> hi there, joe good morning we have a pretty strong report here from walmart. it looks like beating consensus adjustments. above consensus for both walmart has been shifting its focus to profitability whether than scale the retailer is also upping its full-year guidance, bracketing guidance, although for the second quarter it does look like the earnings is a little shy of where the street is, u.s. comparable sales for walmart is up a slight deceleration quarter over quarter well stronger over what we've heard from other retailers gross margin did fall 18 basis points due to a high percentage of lower margin sales in areas like grocery u.s. net digital grew quarter over quarter yesterday, target actually reported a deceleration in digital sales. global ad revenue grew 40% i spoke briefly to the cfo, while there's resilience but it's surprised us. consumers are trading down to smaller pack sizes when it comes to discretionary spending on items like tvs, they're

walmart please, show that to me, we got them up 2%.earlier this morning, lydia has the story for us. did inflation weary shoppers flock to low-priced walmart? >> they did. that's exactly what happened and it is proving to be good news for walmart. the discount retailer reported double beat on earnings and revenue, it raised for your guidance for the rest of the year so that is great for investors but walmart strategy has been to keep food prices low and that seems to be working. it is reporting people are flocking to them for their grocery purchases. walmart said wealthier households are buying more from them, consumers are trading down to smaller sizes and walmart store brands, sales were up 7% in the quarter but shoppers are pulling back on discretionary spending, saving big-ticket purchases, big appliances or electronics, saving those for when they go on the sale, this is a similar theme we heard from target and home depot earlier in the week, we also heard target talking about organized retail theft being a huge challenge for the r

walmart next thursday. my next guest upgraded walmart to outperformance. fab five list ahead of the results stocks are lower today, but walmart is a different story than lowe's. that reports on the 23rd, and he's giving it a negative on a lousing housing slowdown greg, welcome. >> thanks for having me. >> i hope you can explain housing. on the one hand we still hear about bidding wars and tons of price spikes but on the other hand, we know that literally turnover activity from the market, broadly speaking, is way down from pandemic levels. where does that leave the housing stocks >> it's a great question so the housing, and steve, our expert there, has been a little better than expected we still think that there is a fundamental housing shortage we can debate whether it's 2 million, 3 million, 4 million units, that was building up even before pandemic. so as supply comes back on, you are getting a little bit of a pickup in housing turnover the problem is, it's a different cycle than for home improvement. so it's our home improvement indicator that went neg

i believe walmart is leading the way.after the headlines from target on theft, walmart is important. jonathan: walmart up by a little more than 1%. lisa: they say the not -- softening sales trends -- have strength longer-term. they are looking to move away from discretionary items. yesterday we were talking about how much we see discretionary items. and that gives us clarity around the stocks. lisa: and how long it takes -- jonathan: and how long it takes from the fed officials and the splintering. lisa: and we also ask how much they have to keep adjusting to fight inflation. tom: they are data dependent but they will not act until the service of inflation is well and place and we are not there yet. jonathan: that place ways on different indicators. tom: absolutely. jonathan: it drives me nuts at the moment we had a guest on the show yesterday with a catchall phrase that doesn't mean anything now with data dependent. lisa: he says it is too soon to make any call of where i will be in the next meeting. i kept thinking to m

they are benefitting from trading down to walmart.e we stand which is a fairly muted environment as we look from now, which we are starting to do now, to the holiday season. >> jharrone, back to you what about confidence? do consumers feel confident to spend with the debt ceiling with inflation being persistent >> what keeps the consumer good right now is the job security. the consumer confidence is improving slightly because of this, but all eyes are really on the resolution for the u.s. debt ceiling and unemployment rate remains where it is. if the consumer sees no resolution of the u.s. debt ceiling and job security -- me might lose their job and unemployment comes up, they will put their hands in the pockets and hold back on spending. >> jharrone, is there one stock we should be watching? >> i agree with gerry with walmart being the biggest winner there are more retailers to report lululemon is seeing double digit store sales on top of strong store sales last year. consumers are concerned about wellness and self care we saw that u

where do you see walmart going here?e they are offering more healthy food choices stocking more organic food items and they are gaining market share across a larger consumer base because everybody is looking for value and everybody is looking for deals especially on staple items and consumers are spending lesson discretionary merchandise because they are spending more on travel. while we're seeing pullback in discretionary and definitely in spending on home products and home improvement, consumers are spending on travel. cruise bookings are strong. airports are packed, so we've seen this pre-pandemic shift from merchandise to memories further accelerate in a post- pandemic retail environment where consumers are valuing travel and they are looking for value in staple items but they houses are full of tv's and all kinds of cookware and everything that they bought during the pandemic. liz: dana when i hear ivan talk about all that walmart offers, i'm beginning to wonder. is it time to stop the comparison between walmart and

the blue chips though actually should be higher simply on walmart's earnings report but shares of walmart, which touched $154 and change earlier have lost much of their earlier bump, even though the company beat first quarter results, thanks to a very strong grocery segment, and walmart also raised its annual sales and profit targets. right now shares are trading up about 1% now, to $151 and change we've got a downgrade by truist of proctor and gamble that might have something to do with the moderating of the enthusiasm over walmart. we've got proctor and gamble the big laggard on the blue chip s down 2%. truist analysts kick their rating on the consumer staples giant from a buy down to a hold warning increasingly frugal customers are trading down to cheaper alternatives, which you would think be walmart, but that trend may last a couple of quarters. no denying though the broader market has been lifted by optimism, republicans and democrats might hash out that agreement to raise the debt ceiling before june 1 when the u.s. runs out of money to pay its outstanding bills, including social s

walmart a place to get nearly anything from everyday produce to toys to tech.at the company allegedly sold on its website now has it in hot water with california attorney general rob bonta. it is an acceptable. let's be clear. that walmart sold such dangerous weapons or even made their site available. >> as a marketplace for their

during tougher times, walmart does better.any measure, i feel we're in one of those tougher times we look out a year or two, which means it's a walmart time. i think there are issues strategically where they do not have the focus on food that walmart has and operationally where there are still big issues just look at the gross margin rate deterioration, look at the inverer to situation, the imbalance of inventory at target i think they have some real issues they themselves have come forward and said it may take three years to get back to where they used to be. that's a very long time. >> just for transparency, you're still a big shareholder of target, aren't you >> i'm not going to sell target. i love target. it's near and dear to my heart you cut yourself, you bleed target red i believe in the company i believe in its positioning but it's not performing that well right now and i think some of what we're seeing is a great reservoir of goodwill from years of operation, including under the current management team, by the way, as

walmart noted the tradedowns from the high-end consumers coming to walmart and berberbur overseas, citing a weak environment. is luxury moderating >> yes, i think it's moderating across the board you take a look at what worked for berbury. the lower priced entry items didn't work, the footwear that didn't work as well. we've seen moderation in some of the luxury good spending, too. you need that traveling, international consumer to come back keep in mind, have you checked out the new tiffany store? >> i haven't i heard it's fabulous. >> it is fabulous. >> what about the notion, we keep talking about different refresh cycles we all bought a grill during covid. you won't need one for a new years but you might be in the market for a new laptop if you got a laptop in the pandemic >> i think electronics are tough. people still have the same computer, iphone, and with hybrid work, you work differently with electronics giving what's happening with the zoom meetings that are continuing hybrid matters. >> you're not that bullish on what electronics are doing >> no, i'm not as excited about electro

looking at individual stocks, susan is with us and we are looking at walmart.ve a bright outlook. >> and great quarter to start the year. better sales and profits, now they are raising guidance for the rest of the year, foot traffic growing 7%. that's less than last quarter, so better than wall street forecasts. high inflation means budget conscious, down for discount retailers like walmart and tjx in the set targets and home depot's we talked about with disappointing sales. 60% at walmart sales come from groceries which are americans continuing to spend to fill the fridge and shopping less at home improvement, home depot but i'm concerned about cheaper labels, private labels and walmart so instead of buying the labels that are more expensive, they're going the cheaper route. a lot of talk about shrinkage, we talked about this. fact. target yesterday said it will cost them 500 million this year. analysis i read from walmart is a lose 3 billion a year end shoplifting and theft. last year they want it's getting worse, that is on the rise that could lease lead to

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walmart holds up no matter what happens. is more interesting eight straight quarters of revenue growth year over year. actually saw revenue acceleration in q3 and q4 of 2022 how many companies can you really say that about. they are eating sephora's lunch. it's only a $24 million market cap but is a category killer not terribly expensive the stock looks really good, too. i don't own ulta at the moment i would much rather look at something like that than a walmart. >>> we will take a quick break when wecome back play-by-play man al michaels, the legend, is standing by to talk amazon prime's "thursday night football" schedule of course we're talking some stkstooc, o. what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. conventi

what does it bode for walmart? here is a look at the regional banks pacwest and western alliance are leading the day on a day when everybody is in the green, and zion's co-america are all meeting the s&p. up08 4 "the exchange" is back after this at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ ♪♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-80

and walmart also showing a slight break in the sales.ing up on the show, we will cheer the american lawmakers. is that what we will do? is there a share on capitol hill? will we hear optimistic towns from leader mccarthy? there is a picture of him there. the market is winning for news on the debt ceiling. dani: the market here is that optimistic tone. we're looking at equity futures moving higher, basically everything trading at 52-week highs at the moment. this is bloomberg. ♪ manus: this is "bloomberg daybreak europe". dani: final push, inviting urges on his negotiating team as house bigger with partly -- mccartney signals a deal may be struck this weekend. fed officials sound increasingly split over policy at once meeting, pumping traders to lift bets for a hike reading g7 leaders are meeting in japan as they talk about sanctions on russia volodymyr zelenskyy will attend. we are live in hiroshima. these equity markets on fire. they are doing really well to close out the week. it is japan, the u.s., tech, everything. manus: there is a

walmart cfo says the company is keeping a cautious view on u.s. consumers.notes that sales weekend in march and april. haidi: asian markets shaping up as we get into friday. we are seeing an upside when it comes to us trillion futures. we see -- two australian futures. aussie dollar following -- falling following the move in unemployment. we see the impact of the dollar index advancing for a third day, the longest streak for the greenback in more than a month watching kiwi stocks, we have leveled out, unchanged after the delivery of the budget. ek futures up by .1%. -- then ek futures up 1%. the nikkei is just 3/10 away from a 2021 high. we are watching -- as the level in focus. watching u.s. futures at the moment, higher as stocks climbed on the regular session. we had seen hawkish fed rhetoric coming from the dallas president, saying the case for a pause next month is not clear. signs of progress on the debt ceiling negotiations, the s&p 500 is at a nine month high. we are watching what is happening with the retailers like walmart. we are seeing the u.s. c

you know i still like walmart still like amazon we haven't seen talked a lot about that zan hit a bigness doing fine you sue increase, in have -- >> all that crime happening in retailers likely send people to go online to buy everything i don't want to go into a walgreens or cva everything locked up talking about it rather do it online maybe that is a positive -- >> embarrassing almost isn't a day goes by i don't check amazon after something. >> very good, good to see you quick break ceo bin chatgpt to testify before congress today about risks of artificial intelligence we talk with chief technologist next, "mornings with maria" live on fox business. hey ♪ crazy, ♪ ♪ call me baby ♪ ♪ i can't, you know, thank my parents enough for making sure that this connection is here. one of the things that my mother told me when she was in the hospital, she didn't tell me, actually, she couldn't speak at the time, but she wrote it down... "go see alicia." oh, my goodness. you know, and there was never a time that you were too busy. there was never a time you said i'll call you back, you know. i ne

unleash your potential with force factor at walmart. for likes or followers.makes it matter the most when they find it. the exact thing that can change the world. some say it's what they were born to do... it's what they live to do... trinet serves small and medium sized businesses... so they can do more of what matters. benefits. payroll. compliance. trinet. people matter. building a better bay area moving forward, finding solutions. this is abc7 news. >> good morning everybody. i'm liz creutz. a car up in flames while dozens of other cars backed up traffic following a sideshow in oakland overnight. it appears that sideshow led to chaos as people also got out of their cars and were seen lighting fireworks or running around filming the incident. multi purple cars were on fire when police arrived. authorities eventually put out those flames as officers cleared the traffic. we'll keep you posted on developments there. meantime, lisa argen, good morning to you. let's get a check of the forecast. all right, liz, it is raining our level one system breezy south wind

product offerings, adding they are seeing that with the actions they're taking walmart sales rose 8%scal first quarter >>> the national highway traffic safety administration is warning over 33 million people are driving cars that may have a dangerous defect the group is urging arc automotive to recall air bag inflaters, claiming they can explode and spew shrapnel in rare cases federal regulators allege that defective inflaters were used from 2002 to 2018. but they maintain there are no safety defects neither the government nor arc have released a full list of affected models. >>> still to come, spacex prepares a giant leap with a history-making launch this weekend. >>> and ininterestfrfrom drivin and d the fast a and furiousus, hohollywood cecelebrates l luda. hollywood d celebrateses ludacr. it m makes my rurunning shoe lolook like nenew! it's s amazing. it m makes my rurunning shoe lolook like nenew! it's s so good. it m makes my rurunning shoe lolook like nenew! itit makes it t look likee i i have magicical powers.. magigic eraser a and sheets make cleleaning lookok eas. itit make

walmart agreed to no longer sell them and pay half $1 million. retailer will allow customers to illegal weapons on its side. larry: the san jose airport will benefit from funds to make roadways safer. they will receive nearly $11 million to build a taxiway with more direct access to their plan hangers. traditional start of the summer travel season and pooh-poohed a judge says travelers should expect delays this summer. he says a major shortage of air traffic controllers is a major reason and there are 11,500 or on the job, about 3000 you were then there should be. >> it's a concern and part of it what motivates us on the hiring and training. we need to make sure the workforce is ready. >> there is also a pilot shortage. the faa is on a hiring blitz woody judge insists that despite the shortage they will not sacrifice safety to make sure plan save up on time. kristen: san francisco introduce clean air veterans. challenge kristen: multiple organizations raised funds for the project. in hopes to expand its goal by creating zero emissions in the near

by the way, especially for retailers like walmart, perhaps amazon and others.r, amazon says they're already big into ai. i've been using alexa for a lot of the stuff that i just ask willy-nilly here and there i have gotten used to having that voice in my house it probably becomes much more ubiquitous in the coming months and years. >>> ai has been dominating the news and now analysts are saying it could dominate the markets and economy. paul jones telling cnbc just this week that the technology will create a productivity boom we have only seen a few times in 75 years service now ceo bill mcdermott echoed that yesterday. and steve cohen reportedly said investors may be mising a big ai wave of opportunity by being too focused on recession odds. ai could push up goldman profits by 30% and one of my next guests calls these numbers too conservative the other says they're too far-fetched. joining me now is brian jacobson, along with keith fitzgerald keith, you think this is for real, and maybe we're underestimating how big of an impact it will have. >> i think it's n

unleash your potential with force factor at walmart.insulin injections with omnipod 5... a tubeless system that automatically adjusts insulin to help protect against highs and lows. try it today. go to omnipod.com for risk information and instructions for use. consult your doctor before starting on omnipod. ♪ sweet dreams are made of this -- ♪ who am i do to the disagree ♪ stuart: oh, i know it so well. by the way, you're looking at o'hare international airport, chicago. 70 degrees. looks like a nice day there. and there's this, air new zealand will start offering bunk beds on long haul flights to new york and chicago next year. economy passengers can rent them out for four hours at a time. each bed comes with pillows, sheets, blankets and a plug for your phone. and guess what? it costs $10 an hour -- 100 an hour for this. would you pay that, you're in economy, would you pay that for bunk beds? >> i think that's a no-brainer. if you wanted one of the pods up in business class for a trip from let's say here to, i don't know, nice, france

walmart's cfo told me shoppers may have spent less with lower tax refunds and ending of the s.n.a.p.ding the banking crisis may have hurt consumers. the retail focus is down 2% and trailing the s&p's 9% gains. >> that is interesting people or investors are losing faith with retail. i was listening to you talk. shoppers are becoming more hesitant with big ticket items is that showing up >> target annd walmart noticed people were buying things close t r to when they needed them people would buy the patio when it was set now they wait for the party to open up the wallets. that could be because people are not worried of out of stocks that we experienced the last two years. it could mean people are reluctant to part with their dollar. >> who doesn't like to wait for a sale >> true. >> what about the current quarter? what are retailers saying with demand and spendi >> what we hear from target and walmart is there is a drop off the sales. february was the high mark in sales and march and april was softer that is what we are hearing. consumers are looking for deals. it is tougher to convince

. >> reporter: depositing those in bins labeled for plastic bait recycling at walmart and target storesoss ten states. walmart and target among multiple big-box stores produce big international directory that steers customers to places where they can recycle plastic bags. on the 46 trackers, only four last painted in places that say they are involved with recyclin. 23 last paint in landfills and incinerators. >> how much of what people think is being recycled actually ends up here at an incinerator? >> the amount of resources that we are able to recover across the whole globe right now is sitting in around 9%. >> reporter: how much do people think they are recycled? >> i think they think it's a lot more. >> reporter: in a statement, target said they are committed to looking at our processes to improve our recycling efforts. and walmart saying its pursuing initiatives to reduce the use of single-use plastics, including plastic bags. i hope you understand my frustration. we asked the american chemistry council which again promoting the big-box store drop-off concept about a decade ago abo

unleash your potential with force factor at walmart.art: daniel penny is the 24- year-old former marine charged in the chokehold death of jordan kneely in the new york subway. he turned himself in to the police earlier this morning. this case is all about how far you can go to defend yourself. laura ingle is at the fifth police precinct in new york. what happens next, for mr. penny , laura? reporter: good morning, stuart. yeah, we have a lot of action here this morning as daniel penny surrendered at the fifth precinct and he entered into the police station with his attorneys; however, he just left here in handcuffs. hands behind the back and he's off now to criminal court where he is going to be arraigned foreman slaughter in the second degree. that is set to take place in the next short while here, and as you mentioned, penny as he walked in did not answer any questions as he came in and out of the precinct. the charges he's now facing could bring him up to 15 years in prison if he's convicted and that cell phone video that we keep wat

walmart. they agreed to pay half a million dollars as part of a settlement reached with california over illegal weapons sales. well, get ready for another warm summer. most of the country, including california, could get higher than average temps. that's all according to a new forecast from the national oceanic atmospheric administration say california has much of a 40% chance warmer weather, especially in the northern part of the state. >> all you wander law that were whether we're talking about will my wednesday be could take a little warm, really big lee joining us live get up to speed there. good morning, brittany. yeah, rise and it's not going to be as warm as monday, but it's still going to be on the warmer side. we'll talk about everything you need to know walking out the door right now. you can see it's really going to be about those conditions. again, as we peek into the east bay, cloudy, patchy, fog into the theme for the next couple of hours. no need to worry. we're going to show yo

authorities say she was likely seen at a walmart last saturday.e is being compared to gabbi petito who was murdered by her boyfriend on a cross-country trip in 2021. >>> "the new york times" says a virginia man was charged in the shooting of a new jersey councilwoman. 28-year-old rashid ali bynum was taken into custody yesterday and charged with first-degree murder in the death of 30-year-old eunice dwumfour. she was killed while sitting in her suv outside her home in new jersey in february. prosecutors say the suspect was linked to a church she belonged to. an attorney for the victim's family says they are looking for answers. he target eunice, what was the >>he suspect ated in targeting virginia, and there's no word on when he might be extradited to new jersey. >>> and the "associated press" says a south carolina gas station orn accused of killing a 14-year-old boy made his first court appearance. authorities say 58-year-old rick chow chased the boy from his store and shot him in the back. he's been charged with murder. they said chow thought th

and we have outlook for target and walmart this week., the meeting this afternoon we'll get to everybody in a minute mike mike, we're patient. nasdaq has gone a touch negative what do you make of it >> very heavy. this market for as flat as it's been, it's not been in gear, and so we continue to see that you know, auto's down a couple of percent there's definitely a slowdown taking hold type of a feel to things today on the other hand, you know, industrial production better than expected auto manufacturing ramping up, and, you know, that's goosing the second gdp number. that's this feeling of we're not really headed quickly to a resolution on the recession, no recession, or in the -- can the market stay this way >> the debt ceiling. >> i was going to say also, the resolution to the debt ceiling is being spun as a negative by folks who have already been bearish because they're looking at the aggregates and saying the fed hasn't issued any debt, and it's keeping liquidity in the system look the aggregate mass says to me that's not a reason

tomorrow, target and after that, walmart. the top line from home depot, they see full year comp sales down four or 5% and they had seen it as approximately flat that said slight downgrade for them. lisa: there is a question whether this is reflective of the broader consumer this is a home depot specific and housing specific type of story. those shares are lower by almost 5%. they said it has to do with lumbar deflation and unfavorable weather. perhaps there is something that is more specific to the industry rather than a larger statement about the retailers including target tomorrow and walmart. tom: they make clear it's been a cold spring across this nation. we experience that in new york with the first warm days in the last couple of days the weather is part of it but lumbar deflation gets my attention. you will see that across other products. you will get a feature of the income statement where you got less inflation, less nominal gdp, the animal spirit of the nation on a price and unit space leaning to perhaps lesser reve

it exceeded expectations at walmart.tional what's interesting about billie, which is not only growing share for us this year, our whole women's shave portfolio is now growing share. intuition and hydro silk has grown share in the most recent period we have a lot of momentum in women's shave and we love the portfolio because billie is in the value oriented price tier from a pricing perspective which is a good value for consumers looking for that >> rod, i am curious on that point about marketing strategy if the consumer does start to roll, does that mean you step on the gas because they are more open to changing their minds on brands >> carl, look, we stay very close to the consumer relative to our portfolio because we have premium price all the way down to value tier. a little known fact with us, we control 80% of the market. our market share of private label in the market and, by the way, we're not seeing consumers trade down to private label. that part of the business is strong one of the things we've gotten better at

people are spending on amazon and walmart.hey're spending on costco spending in different places they're not spending at best buy. sonos. that decline was really -- >> sonos had a rough time with guidance there, yeah >> but grocery is walmart. remember, grocery is walmart and costco, up 9% year over year >> and it's the advantage you would say they have over target? >> yes >> when we come back, we'll look at some of the deals of the day, totaling about $37 billion >>> and also ahead, as jim said, adobe, we'll talk a.i. with shantanu narayen later on this hour we'll talk upgrades we got today of schwab and meta and others. dollar is coming off a one-month high mea more "squawk on the street" in a minute helping businesses both large and small, communities and the people who live and work there grow and thrive. we're proud to call these places home too. they're where we put down roots, and where together, we work to help move everyone's financial goals forward. pnc bank. go. go air that runs factory. go sensors and software. go

the family of a man shot and killed inside a bay area walmart by police is gathering together. what they're requesting. >>> and the woman elon musk tasks to shed twitter. what she'll soon face. >>> thanks for joining us for our midday newscast. i'm marcus washington. well, we do have a lot to get to this hour, first, just into our newsroom, elon musk confirming former nbc executive linda yaccarino is the next ceo of twitter. now, in a tweet musk wrote in part that he hired her and is excited to have her on his team and that she will focus pry lir on business operations. our scott mcgrew says that yaccarino has skills twitter needs. >> yeah. the skills and the relationships. yaccarino has been a top executive at nbcuniversal, the parent company of this tv station, for more than a decade. in that decade, a lot of her job was developing relationships with major brands to get them to advertise on nbc. as ceo of twitter, she could bring those brands back to the social network. twitter is desperate for advertisers. now, her departure comes just before what they call the upfronts at n

an investigation found roughly 250 products that could be classified as brass knuckles on the walmart website, california's attorney general announced that settlement today. >> it is an acceptable. let's be clear. that walmart sold such dangerous weapons or even made their site available as a marketplace for their cell. >> walmart released a statement saying in part it is committed to being a trusted retailer saying it believes its policies comply with california law and does not admit any wrongdoing. walmart adds we believe this agreement is in the best interest of all parties next tonight on properties at 8 efforts to discuss damages goes open, air drug abuse problems are interrupted. the response from. >> mayor breed to public pushback. plus, some ferries in the bay area are about to be operating faster with troops are getting some new energy efficient upgrades and this is exciting. a bay area riders about to see his story come to life. the authors of american born chinese shares his excitement the night before show based on his book starts screaming streaming. breaknng news, an 8

why he says walmart has been putting illegal weapons on the street. >>> and a major announcement from ferry operators on the bay. why the fleet just got much more environmentally friendly. >>> and we're hearing from the teen who was plucked from a raging northern california river just in the nick of time. >> he started screaming help me, like really loud. >>> well, imagine living in a neighborhood filled up with burned out abandoned cars, many of them stolen and left behind to fall apart. >> well, that's exactly what's happening in parts of oakland, and a lot of people want to do something about it, but some are afraid of retaliation. >> yeah, the city says it started a new program to clean up this mess, but it's going to take some time. our juliette goodrich met with one man who's taking action now. >> it's getting worse by the day. i mean, you can talk to some of the neighbors. we're here on carey street. and this is just one section you see. look at this. >> reporter: community advocate ken houston walks us through parts of oakland and says this is just one example of the abandoned