Out in deadwood we heard about the avocado pelting story. Really injured. In a world where amazon is buying whole foods what happens to costco, and what about those costco retisry chickens. You guys talking about it. Is that enough to keep the big box customers coming well tell you what the wall street is saying with costco down 2 . Two words on costco, fresh fish friday. Very enthusiast. Thats what i live for. Activist investor going after the parent of saks saying hudson bay should stop trying to get the deal won with Neiman Marcus and macys theres a better way to inlock the value. And well discuss stragt in a first cnbc interview with Jonathan Litt. We begin with word out of the white house. Kayla touch covering the tech sim mitt and ooemon javers with more on russia threatening to target the u. S. Over warplanes in syria. Ceos of the Largest Tech Companies in the world, alphabet, microsoft, ibm, adobe are meeting today at the white house to modernize the governments infrastructure
Street. Bob pisani. A lot of fun today the company priced at 17 per share, it closed at 24. 48. I call that a successful opening. Now snap has a market cap, 34 billion. This is the same neighborhood as travellers, deere, General Mills and marriott. Why the healthy pop . The markets are trading near historic highs. Second investors have been starved for a high demand ipo for a long time. Third ipo returns have been strong. The average ipo is up 26 in the last year. And finally, the number of shares the company floated pretty small, just about 14 of the total shares outstanding. This was a great first day pop but a lot of Tech Companies have had great first days then they run into trouble within six months or so. Item number one. Facebook priced at 28. 12 but had a terrible time after that. Then we had twitter. They priced at 26 in 2013. Huge first day. They closed almost 45 but it too was plunging six months later. And we have alibaba. They priced at 6 in 2014. Their first day they clos
Stand for the first time discuss the connection between russia and the election. Eamon . For the first time today fbi director james comey said there is in fact a Law Enforcement investigation into russian meddling in the 2016er campaign into whether or not there was any coordination by anybody inside the Trump Campaign with that russian meddling. Heres what the fbi director had to say earlier today. Our expert investigators will conclude that work as quickly as they can but they will always do it well no matter how long that takes. I can promise you, we will follow the facts wherever they lead. We also had nsa director mike rodgers testifying on capitol hill. He did his best to squash this suggestion that donald trump had made over twitter that president obama had had trump wire attempted. And then the suggestion sean spicer made from the podium that somehow the British Intelligence service might have been involved in that. Heres what admiral rogers said today. Our relationship with B
Lets bring in bruins beleskey with bmo Capital Markets and dean maki and cnbcs steve liesman. What do you think . Need to take a really deep breath. My comment, not to be flippant, duh. Tell me something that i dont already know, issues that have confounded investmentors for the betterment of six months, number one. Number two, weve been pretty clear on the views in the market that are in a rinse and repeat. Cant get off the emerging markets commodity trade and cant seem to not wore egabout the fed, cant stop worrying about china. Well be worried about the election which should be thrown in there as well and think volatility is here to say so this term black swan for all intents and purposes is overused, its fearmongering and all about trying to grab the headline so i think what we already know is this. Black swans typically historically happen when you most expect them. Thats their definition. These are all known unknowns. Right. So tell me something i dont know. Right. We already kno
Are hitting the highs today. Im talking about the usual suspects. The consumer packaged goods. Only a handful of the good leaders that can truly turn a pre selling respite, a relief rally into something that lasts like the big Cab Companies internationally. Only a handful are making highs. Thats a sign of the staying power being a week. Unless it goes to the sameold sameold. I know all rallies look like theyre created equal. Dynamic moves all over the place. The kind of rally today is the mirror image of the typical selloff. On day one everything goes up. By day two, we know it will bounce. This is the wait works. The first day in the selloff. We stop and catch some buys. Its just the same thing. Nothing has changed. Before we entity into expects, why does this matter . Who cares, isnt a rally a rally . Just like i told you last week. There are varying degrees of bad, very bad, real bad. There are varying degrees of good rallies. And this one, well, it was just good. Nothing more than