Welcome to power lunch. Stocks are moving lower but the dow, s p and nasdaq did manage to hit new highs in the session. First, the losers, blue apron taking nearly 20 at record lows they say the new Fulfillment Center in new jersey is eating away at profits. Trip adviser is down by about 20 on the revenue miss. Red robin, can you say indigestion. That stock is down 30 they are missing the mark and slashing their profit forecast the double digit winners, valiant pharmaceuticals earn more than 15 . Weight watchers is up 17 . The company beating on the top and bottom line says it is testing a Meal Delivery service. Oprah smiling today. She is up over 600 on her investment in wtw, wow if you are wearing a blue apron at red robin, you have a problem. Down about 40 im Tyler Mathisen here is whats happening after a threemonthlong battle, bill ackman loses his bid for three seats on the board of adp. Home prices rose 7 . 48 of the nations top 50 housing markets are now considered overvalued. A
Francine on assignment. Vonnie news out of saudi arabia, japan coming back online, lots to talk about today. Tom the quiet after a big jobs day, huge in decision on what the fed will do. Vonnie listening to some more fed speak this week. We will be getting bank of england inflation expectations. Tom i didnt know that. Michael mckee and will join us in this hour to pick up the pieces. Monday, to our bloomberg first word news. Heres vonnie quinn. Tonie in his latest attempt prevent a u. K. Exit from the european union, David Cameron said that the u. K. Has a National Interest in preventing future conflicts in europe and that requires staying in the eu. I understand why many people are wrestling with this decision and why some peoples head and hearts are torn. I understand and respect the views of those who think we should leave even if i believe they are wrong and that leaving would inflict real damage on our country. Vonnie the british referendum on the eu is june 23 and we are expected
Worst week in ten. Draghis comments dont add anything new. Rolls royce has a warning. Oil back below 44. Copper to a new sixyear low. Macys sending shockwaves through retail. Its not all brands. A big beat this morning from kohls. Well have an exclusive with john malone in a moment and apple reportedly diving further into payments. Pay pal and Google Wallet may be on notice today. First up, kohls up sharply on better than expected quarterly results. Comps up 1 . Retailers citing strong backtoschool sales. Comes after macys reported the weaker sales and guidance. Comps up better than estimated. Inventories up 5 but still sequentially better. The take is, given macys, this is pretty solid. There was a time when 1 comp growth would be something that i would turn to you and say, wow is that pathetic. People were looking for 1 comp growth and they gave it to us. Was it kohls has one advantage. They dont have a giant flagship store. Kohls is also trying to differentiate some of its products.
And the nasdaq is up by nearly 31 . By the way, if those numbers arent big enough for you, check out how far stocks have come from their march 2009 lows. The dow over that time period gaining nearly 145 , the s p 165 , and the nasdaq nearly 213 . Yeah. March 2009 lows, what a long way weve come. As you take a look at futures this morning, theyre flatlining at this point, probably unsure what to do after yesterdays big gains. As for the rates with the tenyear, at this point the tenyear is yielding 2. 782 , so below 2. 8 , but its been rising and rising on the expectation that the fed is going to have to start tapering at some point, and that will eventually lead to higher Interest Rates. The obama rallys in full force. 2009. What happened in 2008 . The election. Yeah, thats right. Here we are, baby. Rich people are getting richer, though. Thats the only problem. I know thats your new problem. Heres my two anecdotes. Yesterday, over at the gym trying to, you know, get rid of whats the na
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