williams-sonoma. you might be surprised to find out why. >>> and would you take less pay if your company gave you a bigger 401(k) match? nearly half of the respondents in one survey say they would. we will give you the details and also give you a chance to vote if that would be the best financial move for you. >>> and in the markets right now, as tyler mentioned, the dow's off about 31 points. at the lows, we were off 52. the nasdaq, meanwhile, down about 24, and the s&p 500 off 6 1/2 points. and we're keeping an eye, tyler, on a lot of individual movers. king digital will report after the close, but otherwise, it's been relatively quiet. >> indeed it has. joining our "closing bell" exchange this afternoon, rob morgue from v2v associates, dick burridge from rmb capital management, sam stovall from s&p capital iq, diane, and mr. santelli is back. welcome one and all. sam stovall, let me start with you, as i know a student of market history. it's been a long time since the market has had a correction. i

williams-sonoma owns pottery barn kids and pottery barn teen, both market for back to school. >> whyhey poised to be winners, do you think? >> well, williams-sonoma has made quite a concerted effort with omni channel presence in the form of e-commerce, its catalog business and stores. and that's been the winning formula for them. and pottery barn teen and kids are not new concepts but one that is gaining -- ones that are gaining momentum. we think, as they continue to flex their model where they use all of the data that it gets from e-commerce business to understand who their customer is, they're going to better market to them, products that they need and want for back to school. >> thanks for coming on. appreciate it very much. kate mcshane with that upgrade over at citi today. guys, josh brown, what do you think here? >> it's tough, i think you know the call on pottery barn is probably a good one. question is, what's the duration of the rally once people recognize that she's right? typically, these things tend to be more tactical. i stick to things like macy's, much broader than tr

after the bell tonight williams sonoma, murph?e housing numbers -- the housing information we've gotten like from a home depot being pretty positive. i think that bodes well for williams sonoma, but i think professionals should be trading this. this has wild swings on earnings. i'm not in it. if you're not using a tight stop, be careful or trade it with the options. >>> we had an analyst who said williams sonoma was the best back to school pick not for the coffee makers, but because pottery barn. pottery barn kids was expected to see up side, at least in their opinion. anybody else like this play? nobody? why not, doug? >> it's not an exciting play to me. one of them i would bet on, judge, would be something like, for instance a zumiez. i'm not in that name, but i'm saying something where i would see kids going in and shopping, pacsun, but pottery barn kids? not really. >> how about abercrombie & fitch? that's thursday before the bell. they've been getting some love lately, what was one of the most hated stocks on the street, cert

williams-sonoma taking a hit today. should you buy the dip who are this home goods retailer gone bad? debate it. logon to cnbc.com/vote. decide the winner in realtime. buck 30 on the clock. doc, make your case. stock down double digits. >> a huge run into the flunumbe what mike will talk about, too. that run amazing. this dump of about 12% amazing. but 5.8% revenue growth year over year, that's huge for these guys. some people said back to school and i say, this is nothing about back to school. that's a completely different story. but after hours low as 6554. didn't buy it there but did over 66 and like it. the reason i like it, i thaw the same-store sales numbers were strong. gross margin downs a skosh, 12% mayor cut, too much. that's why i bought it and am holding here rnlgtsz so i like the company, and i like your thesis, jon. the problem, talk about same-store sales increasing 5%. their inventory increased over 20%. so when they guided lower for the rest of this year, the reason they're guiding lower. >> slightly, t

weand williams-sonoma, cannot blame teenagers for that.guess or abercrombie which are pretty specific. >> coming up, argentina remains nationalnk of another strike over government economic policy. did it too. that is bloomberg's majority owner dumping ice. >> live from bloomberg headquarters in new york, this is market makers with erik schatzker and stephanie ruhle. watching market makers. i am erik schatzker. alix steel, in for stephanie ruhle. >> thousands of argentines are on the street's protesting the economic policies and high inflation that has come along with them. holdout investors include billionaire paul singer who made it happen. josh is just back from when buenos-- from when aires. >> they hoped they could get a last-minute deal, which was in there mine a stay. but i am less confident than i was before going that they are going to find their way out of this mess. in private conversations with officials and economists, everyone sort of gets the joke, increasings frustration, increasing social unrest. the public feels the frustr

even. >> i don't know, my kid goes back to school, we buy a lot of stuff, but we don't go to williams-sonoma. that's a bed-bath situation. maybe castle a for $380, the iron pot, i mean, they are not necessarily a back-to-school play. macy's, the third analyst said they will be great. i wish -- i hope -- i don't to be -- unless it's greater than great, it sells off. >> limited brands, fossil, like sally beauty. >> beauty. >> yeah. >> listen, whatever, they should like kate spade. they deliver a number that's just extraordinary their. that turns out to be the winner. think about it. coach, you know, the bleeding has stopped, kors, stopped liking kors, but kate spade delivers a hot number, the hand bag for the fall. >> we talk rates at 242 on the ten-year, and talked about net interest margin at the big banks, how they benefit from a raising rate environment because you see more of that. >> yes. >> this morning the general reporting on u.s. bank profits nearing record levels, second highest in 23 years. >> it's the reserve way. >> it is. it is. then you also do have a story, perhaps more import

we do have word from abercrombie, williams-sonoma, under pressure 5%.quarter, but sales were a disappointment. facing the battle, and williams stock under pressure after a record high, had a strong run, and the reed from roadway till is challenging, no matter if it's teen retail, big box retail, macy's, across the board, wouldn't you say? >> absolutely. williams-sonoma is a winner, that's why it's coming off today because people had high expectations. >> the back to school pick for citi. >> it was one of them. >> 29% year to date gain, a multiple of what the market's done overall. >> supposed to have changed and be fashionable, but there's still a shirtless man at the entrance. >> they are not changing completely. >> what about the strong scent, still overwhelming? >> i don't go if, i just walk by. >> you get a whiff when you go buy. retails, did you hear the former kroger's ceo thinks the pay package is, quote, ludicrous. the argument was the pay was republican until the stock was at an all-time high. it was not high compared to the competitors. this h

williams sonoma is not a downfall. the only reason it's down this much is because the stock has had an incredible run into it. the quarter was fine. guidance not good, down 12% is too much. i think it's going to flush toechl on huge volume. i think it's an opportunity on the long side. >> na jeri? >> i did right around $66 a share. to guy's point, yes, it hit a 52-vooek week high. i think this is overdone. you look at the revenues, ability inline. the revenues, they're looking at 68 to 53. they were looking for 66. that's a bit of an issue. obviously, that's the selling. i think this creates an opportunity like it did in whole foods after those earnings were bad. >> the same thing happened in best buy. you have that flush traded 29 million shares. that was yesterday. >> right. >> today it rebound, it trades 14 million shares. it's the hottest stock in the s&p 500. they don't always bottom like that. to guy's point, when you get the flush, you feel good about them unless you are long. in this case, i think will you get

williams-sonoma shares diving by more than 10%. had been up by 25% though since the beginning of the year. frank and michelle, back to you. >> jason brooks from kcbs news, thank you. >>> video could shed some light into what may have happened when a little girl holding an assault rifle accidentally shot and killed a firearms instructor in arizona. andria borba has more on what happened. >> rock and roll, baby! >> reporter: a 9-year-old girl taking aim at an arizona gun range, uzi in hand. >> there you go, just like that. >> reporter: when everything goes terribly wrong. >> all right, pull on it. >> reporter: in an instant, instructor charles vacca was dead. >> loss of life, you have a child nine years old that already has a fatality on her heart the rest of her life. >> reporter: scott jackson chief instructor of the bay area firearms training team says there are no national standards about how or when to introduce children to firearms. as a general rule, scott won't train anyone younger than 12. >> safe, fire -- >> reporter: scott

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williams-sonoma, which is down big in the after-market, this after the home furnishings retailer is reallyorted second quarter earnings that basically came in line with wall street forecasts, but what rattled investors was the third quarter earnings and sales guidance, which is below what wall street was expecting. those shares currently near their after-market lows. you can see there down by about 11%. so, wsm shares really had been stars for a while, but at least in today's trade are down by 10% on the heels of at least an earnings forecast that's disappointing for investors, kelly. back over to you guys. >> all right, dom. thank you. we'll keep an eye on that during the hour. >>> remember the rage over the ipad mini? they seem to be a distant memory for apple, reportedly looking to make a bigger and better ipad after lags for the 7.9-inch versions. b as we go to break, head over to cnbc.com/vote and participate in our online poll and weigh in on whether or not you want a bigger ipad. we'll show you the live voting when we come back from the break. your 16-year-old daughter studied day a

williams-sonoma is down in after-hours trading.hile profits rose nearly 5%, is outlook missed on estimates. falling in after-hours trades -- and shares of gas falling in after-hours trade. top is a check of your stories this hour. >> thanks very much, carol massar. the american family is an insecure one, that is what marianne cooper discovered when she look at how the recent recession has affected the american family. the title of her new book is titled "cut adrift: families and insecure times." in teaches gender research -- at stanford university and was the lead researcher on the book "lean in: women and work and the will to lead." that was co-authored by sheryl sandberg. did you decide to write this book? >> i decided to write it because most of the discussion about inequality and insecurity is statistics and it's presented in graphs and charts. but there's a lot of humanity in this story, so i wanted to but the human face on it. >> putting that human face on stress, innxiety and doing so, what did you discover? >> i discovered

. >> i want to points ought after the bell, williams-sonoma getting slammed, i did not see the details. risk, we like to talk risk and reward. make sure that upside if we get in market right now knowing we're way overdue for a correction. >> multiple the are still, round average right now. if you top invest in stocks -- if you want to invest in stocks, you need to be in stocks right now. >> do you think that guidance going forward not so great, i think that the market is going to the moon. on a rocket ship? oil not sure. i'm not shire. >> why does this have to be a rocket ship? charles: before this rallyy is over. >> it could be years. charles: let's blow whistle, open a page from payne's investment playbook, main street has been yawning at stock market rally. trust sharing economy is garnering the headlines, none as much as uber, it looks like this company reminds me of those run by famous robber "barron's," they would do anything. take slog, ongoing project to steel drivers from lift, you say that is okay. then, 5560 lift rides ordered by uber operatives, then cancels, ouch. and then

look at williams sonoma. loren is at the stock exchange. won't make that joke about not selling $40 spatulas all over again but i just did, down 10%. >> the stock was $10 higher yesterday coming in to their earnings report at an all-time high and now giving up a lot of ground. they met their numbers for the quarter but downgraded their expectations for the full year the rest of the year which includes the last season and christmas, let's talk about that for a second. a lot of people buy items like beanbags for their kids for school and pdt, and $229, 229. not sure anybody would buy that. the large one is 230 bucks. they are a $40 hit at williams sonoma so the rich people are not buying this stuff anymore. stuart: in the economy, they're taking it on the chin. it fits with your theme. this is not a strong economy. >> not a strong economy at all in the retail stores are devastated, they are being annihilated and is not going to change because nothing else is changing. stuart: up next on week in the midst of an era when bubble? we posed a ques

you don't have to worry, the outlook was more conservative, it is gaining ba back, looking for williams-sonoma hitting a new high. watch and stay tuned. we will watch at the 4:00 p.m. adam: imagine somebody at wall street trying to do that. when you hear the words thermal energy you think about high-tech military equipment, but what if you can use this technology on your smart phone? it can see if somebody has been sneaking around your house. the startup created a thermal imaging camera that cost less than $250 you can attach it to your smart phone. here with us to discuss this revolutionary technology, thank you for joining us, my first reaction was how would people use the technology, it could be much more than looking around the house for leaks, isn't it? >> that is what is really fun for us, we don't know what they would do, consumers have never had this but we have a bunch of data testers, so they have been telling us things like they left the dog home at night, people using it for cooking to see what the temperature is or if they have enough propane on the barbecue grill to last the week

home furnishing retailer williams-sonoma shares trading sharply lower.venues match wall street estimates but current quarter guidance fell short. and guess falling short of consensus in the apparel retailer is lowering its full-year forecast. traffic drops and promotions continue to cut into profit margins. and work day posting better than expected results, the company seeing growth in demand for subscriptions to its human resources and financial management software. workday also raising its full-year revenue forecast. >> i was going to say i love workday. >> i don't think that i've actually shopped for something in like 20 years. and i did yesterday. >> what do you mean? >> i don't think i've actually bought clothes. >> what did you buy? >> i bought some jeans. tight fitting jeans. >> tight fitting jeans? what brand? >> i had some. >> skinny jeans? >> i had some already. but we moved out in a rental and they're all packed. so all i have are big, baggy obama grandpa jeans and i needed something better. >> so, what brand did you endorse? >> i mean i don't

williams-sonoma. these names, are they always this low or a fad? this is when you collected the data and the rates may change? >> right, credit card rates change all the time, and fluctuate with the markets and all that sort of thing, and with the officemax visa signature one, the one with the lowest rate, unfortunately there's also a higher end to that range. you can pay 9.99% if you have really good credit, but if you don't have such good credit, it can go up to 23.99%. >> i have to say, matt. we're running out of time. we did see headlines cross, they're looking to change how fico scores are calculated and that could be great not just for consumers who are trying to buy homes and loans in particular, that could be good for banks because they could have leeway in lending. thank you very much for the data. very interesting. >> thank you. >> all right. well, with an unemployment rate of more than 6%, it is important that you stand out from the pack when applying for a job, but sometimes applicants go a little too far and they lie. a new survey from

anyone with a piece of williams-sonoma.hares of pottery barn owner, sliding after the company's revenue forecast for the next quarter came in on the low end of street expectations. shares dropping now by more than 11%, almost 11 1/2% as you see on your screen. ceo has 350,000 shares, meaning she lost nearly $3 million today. a big crack in the crock pot. make mag money, supposedly playing a cruel joke on all of us, jay-z and beyonce, queen bee dad knowles sir, lated divorce rumors were done to circulate ticket sales for the tour. he went on to add, just a jedi mind trick and public willingly lapped it all up. do you believe that? he probably did do all that. >>> labor day is on the horizon. but that doesn't mean you should go a whole three days without your money fix. melissa has a big special lined up on monday, called moneymakers. some innovative entrepreneurs will dish out their advice haw you rake in more cash. kicking off, folks from million dollar listing l.a. they were quick to point out, one major thing you need to

adam: shares of williams sonoma falling after earnings.fter the company's outlook missed estimates. they predict q3 earnings per share of 58 to 453 cents, versus the street estimate of 66 cents. keep an eye on that one. dierdre: time for a speed read. five stories, one minute. french court placing imf chief christine la guard under formal investigation. at question, her role in a political fraud case. she says the alleged intelligence inquiry without merit. she is appealing. >>> hewlett-packard recalling six million power cords. they were distributed with hewlett-packard and compact notebooks and mini notebooks and may be a fire hazard. >>> china is considering massive government program to build charging stations for electric vehicles with as much as $16 billion in funding. >>> uber offering a meal differently -- delivery service for a limited time. uber fresh in santa monica and available for next nine days. >>> lending club, $500 million is the preliminary fund-raising target. the peer-to-peer target will rank one of the 10 biggest mark

story were the retail stocks where we had common tear and really disappointing sales numbers from william sonomapoint here, very promotional environment, that's really starting to hurt margins overall. we also see issues with many of these older names, the abercrombie and fitch is out there losing grounds to the lighter, more nimble companies, the forever 21's out there. cheaper clothing, and they love those cell phones. they want cell phones, they don't want jeans. that's the simplest way. and really, it's apple, it's not alababercrombie that's matterin. >> thank you very much. >>> in the yahoo finance question of the day, new study saying 71% of americans think the recession exerted a permanent drag on the economy. what's your take? this is interesting. >> 5%, i think we're out of the woods, 42% say we're slowly making progress. 53% suit. so things are still looking grim. for an economy that relies so stronger on the consumer. that's an important statistic. >> that i think might account for the fact that the retail investor hasn't been that confident in getting into the market, simon. >> absol

listen, it's been choppy for the macy's, for the williams sonomas, but the targets are really still cheapwe're seeing life in j.c. penney. >>> coming up, the stocks flying under the radar, as we head into the holiday weekend, why one trader is targeting a specific retailer. we'll tell you why he likes it, coming up next. how about over there? what does it mean to have an unlimited mileage warranty on a certified pre-owned mercedes-benz? what does it mean to drive as far as you want... for up to three years... and be covered? it means your odometer... is there to record... the memories. during the mercedes-benz certified pre-owned sales event now through september 2nd, you'll get complimentary pre-paid maintenance and may qualify for a two-month payment credit. only at your authorized mercedes-benz dealer. and cialis for daily use helps you be ready anytime the moment is right. cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for

. >> williams-sonoma is number two. they missed analyst estimates. owns chains including pottery barn and reported earnings and revenue in line. >> and at number one is abercrombie & fitch. shares are falling after the copies second-quarter sales missed analyst estimates. the retailer has been trying to but saw consumers same-store sales drop 10%, almost twice the decline that was it is now day two of the s&p opening above 2000. it is a 1988. enclosed the 2000 yesterday. are stocks overheated? some say, yes. burns is a portfolio manager. he joins us. burns, why do you think stocks are overheated? >> you look at the s&p 500. it is trading 6.5 times earnings. when you factor in the fact that profit margins are at historically high levels, if you adjust normalized profit margins , than you were looking at a multiple closer to 19 or 20 times earnings. back over the last five years, the positive correlation between the growth in the fed balance sheet and returns has been remarkably high. it has been running around 90%. concludefed said to the taper at the

williams-sonoma prices are up 25% so far this year.ally pimpin g out your kids dorm room. that is high-end stuff. >> that is. i never had that in mind. number six, tesla -- consumer tesla. -- number seven, consumer reports says the model exhibiting minor flaws including the front hood, the door handles popping out when you are nearing them. if they do not pop out, what you do watch my >> you do not get in the car -- would you do? >> you do not get in them. >> number six, a software maker forecasting forecast below estimates -- the company that makes the software that runs the its feature reported seventh quarterly loss in a row. #, hertz global holdings -- they delayed publishing results because they were not ready in time. they said they are still viewing financial records from the past three years. >> number four is caesars entertainment -- the casino giant feeling the burn from atlantic city troubles. they added that no qualified bidders have emerged for its bankrupt hoppity in atlantic city. you -- property in atlantic city. you an

. >> it's everything these days, and that's why williams-sonoma is good. they get it. the cover. new york post includes these suggestive photos of the owner jerry jones, boys will be boys, first preseason games tonight. >> yeah. kind of -- yeah. met troy aikman with you. get us off that one a little. >> yes, and russ wilson. >> said i would like him, and then i did, and i mentioned that to rose, the general manager of the eagles, and said, give me a break. >> romo was a gentleman. >> yeah. sorry, romo. by the way, richard sherman in action tonight. >> yes. against the broncos. >> bringing back bad memories. that's right, romo that's good. i don't know what to do. >> birds go to the bears friday. >> i think the bears are potential super bowl team. >> really? >> i do. >> favorite receiver in the nfl, and number ten now, i mean, sorry, i know your mother follows me, and i don't mean anything wrong to his mother, she follows me on twitter. >> what's on mad tonight? >> one of the most -- we talked a lot about the excitement for qdoba. fiesa group and taco cabana not doing a

. >> look at williams-sonoma and restoration hardware. >> should they sell on the news or buy them? >> look, i think target has problems. look, they send retail down. look -- i don't know how many, but target is troubled. you are not used to saying that. i remember when dayton hudson morphed into target. i don't know target. they over expanded. they don't know what to do. >> they had the cool collaborations, designers. >> like coach, one day it bottoms, and take a look. >> we'll look in a second. looking at walmart as well. great to know if they are under pressure on this point or if they are higher. down about six -- >> target's a yield play. dividend seems safe. sounds strange. >> no, it's important. moving on to coach. reporting earnings this morning. highly awaited report. >> yes. >> the luxury retailer saying the fourth quarter revenue better than expected, help by sales in markets like china. came in at 59 cents a share, excludeing items six cents above the estimate. the trade looks like it's working for a couple days. >> cut numbers far enough, you beat them. coach -- never j

take a look other than williams sonoma, that's home goods too, nordstrom quarter, i went over that quart that is about spending billions of dollars in technology in order to make it so people want to go to nordstrom.com which means they doesn't go to the stores which means you don't get to interact with those salespeople. >> the half yearly sale that they do, right, for men and women, here and there. lots of stuff on sale, got to be there to see it. >> "new york times."com became to so great, i said you know what? i'm not going to buy the paper any more. i've have newyorktimes.com. home depot, yes, they have homedepot.com. it's complimentary. i wish analysts would stop squawking how great it's going to be. the great ceo of home depot was not a promotional guy. he does not come on and just say, listen, everything's fab lups his style is to say here are the numbers, interpret it. you've got to be at 84, it's got to be like, look, we see much more room for margin expansion. i don't know. >> speaking of expectations going up, apple, your note, rbc reiterates buy. you're like, here we go agai

tiffany, williams sonoma, abercrombie, lookinging at turnaround.of the clothes, that's what's millennials want. >> you know, i don't want to bet against retailers even when they disappoint, you look at them awe few days later they're higher. one of the disappointments macy's. macy's, 52 all-time high this morning home depot, people concerns, the stock blows it away. lowe's disappoints. i wish i had more d disappointments like lowe's. best buy, behalf, and then when it gets hit if they miss, buy the other half because five days later it's going to be higher. remarkably forgiving mark for retail. remarkably forgiving market. >> you know who will win on the burger king deal is bill ackman. >> congratulations. i'm putting it out there. he's deserving of congratulations. continue to go after allergan. allergan continues to be one of the big pharma companies with growth. but it would have -- they're putting out big numbers in 2015, 2016. i think it's just beginning for allergan. you can win two ways. >> david did mention on friday this letter to the judg

he brought in sharon mccullen, who is at williams-sonoma, really understood the internet world, and they've done remarkable things at that company. it's still a very tough business, but they had three things going for them. they had a brand, still a very strong brand, maybe a bit tarnished, great real estate, and they had a great balance sheet, and when you have those things, a lot of good things can happen with the right leaders. >> but david, what about the boards here? because so many of these companies, the other ones that haven't done as well, and often seem to be pushing people out with no succession plan are surprised by the departures and there's just not -- i mean, who in retail should -- i mean, everybody right now, i would hope, would have some sort of idea of how to deal with successi succession, even if you're just throwing the guy out in order to, you know, buy some time. >> well, one that's a great succession plan and they reported earnings this morning, home depot. when frank blake came in, it was a little bit of a tough moment, when bob nardelli was kind of pushed out. he w

penney, what we have been seeing out there, look at awe mentioned with michaels, we will get sums williams sonomaht. those are interesting reads. >> avoid what, name what with both hands? >> i would buy with both hands, look at the s corpss, active wear the nike's of the wompld i would take a look at the holiday season coming, look at macy's. i think that certainly is interesting. i think gas is doing better. watch urban outfitters, three people anthropology is continuing to do well, a turnover a little if urban. if tiffany's is doing well, it's good for michael kors. >> what would you stay away completely from? >> you want to watch some teen retailers, the aeropostals of the world are struggling out there. it's a calgary. lake i take a look at the department stores like the bond funds and state stores. they're having a struggle these days. >> dana, thank you. >> thank you. >> see you. coming up, being besos. he's created an online book store, turned it into a store for everything. some say he's the next steve jobs. we talked about it a little. we will talk about it more. stick around to find out