tv Fast Money Halftime Report CNBC August 11, 2016 12:00pm-1:01pm EDT
>> that's right. by the way, golf continues. i won't give away any spoilers but i will tell you justin did just hit the first hole in one in olympic history as that sport comes back after 112 years. keep your eye on that throughout the course of the afternoon. on the markets, let's get over to scott and the half. welcome to the halftime report. our top trade this hour, consumer stocks leading the way. it's the best day for the sector in some six months. our question is the damage over and is it safe to buy or is more pain ahead? with us today is tjoe, you firs
>> the games today are phenomenal. over the past month you've had a de-september come back for their of these retail stocks. >> about six to eight weeks ago we were talking about macy's. for a trade fantastic. it's up to 39. it does so on the back of better than feared comps and better than fear gross margining. the real story i'm suspicious of because we don't know clear details of whether these are wholly owned stores or leased stores but when you think about macy's the impact going forward is do they retain the customer base and do other stores benefit from the closing. this does not take me away from my retail ownership names i want and that is tjx and burlington. >> i wonder, the narrative it
had been we're spending but we're spending on our houses and cars and the car numbers have been great, but amazon is eating everybody's lunch and you don't want anything to do with a big box retailer or anything selling apparel. now i wonder if the narrative is changing finally. >> no, it's not. i don't believe it's changing. >> are you looking at some of these numbers. macy's up 15%, kohl's, american eagle, this is a big list today. >> they are and i'm lucky to be in several have those names including macy's. bought it because of unusual buying strikes. stocks up $6, 20% overnight on this move. as joe said those are a lot of reasons that the stock is moving to the upside. however there's going to be margin compression for these guys. there's going to be pe
compression for the entire space. were many of them oversold, were those steals, yes they were. is it a steal up here at 140? i don't think so. >> we get a reality check then. we mention all these gains but you've got macy's is 42% off the high and in order carlstrom is 41% and penny's is 19 but still these numbers are stunning. is there value in this space or are they all value traps. >> i think the results validated what we knew which is good but it's still not a pretty picture. for us it continues to showcase the power of e-commerce and the trend we're seeing globally and
it's shifting to digital. so amazon is obviously taking a share and macy's and the like are still trying to adjust a model that is shifting. >> they were saying don't forget about us when it comes to digit al and online. you have amazon and walmart but we're in the top four. >> he said he was number three. he was good looking and very well dressed but here is the story, i don't recall seeing broad line retailers trade up 20% on an earnings report that you keep resetting expectations lower and lower and loer and eventually they're going to be. you have nordstrom up today and they haven't reported. that's signs of a troubled market. if you look at these stocks you have kohl's that's yielding over 5% and macy's that's yielding over 3%. those are great yields but i think what drug the market are
the import/export numbers. we saw the import number and inflation numbers we haven't seen for five years, since 2011. that's positive. you take that combination and you take these numbers and you get a market that's ripping here. i would not own these stocks. >> what if your point of view is at odds with yours. i think the consumer is stronger than people are giving them credit for and you're just getting ahead of that story as the market tends do. >> these stocks in good times sells 12 times. that's where macy's is right now. they did not raise their numbers and they still have down sales. >> right. >> these are better than feared earnings and keep in mind when you look at the earnings over the last couple of days for a lot of retailers it was all
about being lousy in the last month. what are we talking about on august 11th? we're talking about back to school. >> we're not talking back to scho school. the expectations with back to school is amazon. >> do they buy clothes on amazon. >> i do. we have three kids. >> it's a commodity business. there's no pricing. there's one thing that folks are back to school are actually go to a physical store for, it's the clothing that their kids are going to wear to school. all the other stuff you're going online. >> they're different. most of the rest of us know 17 1/2 neck and 37 sleeve. if you get it online why are you going to pay more to walk in a store. >> instead of going to a store maybe you go to the online of a traditional retailer that doesn't have to be amazon. >> i did buy two suits at macy's
online and i got them 55% off. >> you were complaining about the static in your suits. >> if you're going for the brick and mortar back to school clothing experience, you are going to the off price locations. you're going to tjx, burlington. you're not paying full price. >> and outlet malls. i think the same compression happening for these retailers coming from amazon has happened with the banks and you're not going to see the same pes because of what's happened because of dodd/frank, can the stock prices recover? yes. but you're not going to see it with these financial stocks or retailers. >> i have three kids and i do shop online, i buy much more than people with expect on amazon so i think the trend is starting. people are consuming much more
online and amazon is grabbing a bigger share of that wallet and i think that trend is starting. >> your consumer plays are not retailer traditional apparel play. you like whole foods. >> i like sprouts. >> my bad. >> that's all right. it's a little different. they're growing their store foods and whole foods is shrinking which is one of the reasons we like it. it's been interesting under the radar and that's one of those natural organic growth stories and they've switched the grocery model upside. they're letting the produce drive the traffic and they're making money in other aisles and that's have a positive impact on their revenues. they reported strong results. inflation is what is calling all the grocery outlets right now, kohl's and other whole foods but this is a company that continues to grow and we think is a great long term involvement.
>> let's move to shares of shake shack. the dip is a buying opportunity and up graded that stock to a buy today. we decided to make it our call of the day. we're joined by the analyst who make the call. jake, welcome. >> thanks for having me. >> what enabled you to look at that store and say now is the time to upgrade the stock. >> the real driver of the value for shake shack is unit growth. it's not a same for sale story. what we learned yesterday is there growth targets have increased for the fourth quarter in a row. they're going against difficult comparers last year. they were expected to decelerate and it was a question of how quickly it happened. >> what about the valuation of the stock people are going to have a hard time getting their arms around it no matter what people say about the comps and
the outlook. >> in our view shake shack is coming to what we term as an investable zone. it had gone up about 150 times and since that time stocks are down 60%, estimates are up over 200%. we're at a point where the multiple is 25 times the ebd. it's in a realm where you can compare it to other companies. >> i was reading your report. you used a 20 year discounted cash flow. the target and bull and bears are astounding in conjunction with that. it seems like to borrow a term share loosely to own a stock
like that when it continues to disappoint. >> it hasn't continued to disappoint. the reason why it had that disappointment yesterday is because the performance was so strong in the last year. that was a function of ltos they introduced for the first time and it was a function of taking the pricing last year because of the commodity pressure. in the first quarter they almost doubled the expectation. this is the first time they missed on same store sales so it's a new thing but it's really a function of how they performed in the past. shake shack only has about 51 units in the u.s. d domestically owned companies. you have to look far to capture the value. you can do a five-year dcf and put a multiple on that. we choose to go out as far as we can and with such an early stage company you want to pay a high multiple and we think it's the right way to gauge that but it
becomes difficult. >> i appreciate the time. thanks for coming on. >> my pleasure. what's the trade here. >> for a stock by the way if you look at over the last year he mentions it's sort of come down to earth, it's down 44% year to date it's down 4%. only over the last month has it done anything and it's muted. it's up 1.5%. >> i thought i'd try to do trading after hours. i did. it's not for me. it's not for our clients because it's just got too few locations. so he's right about the comps to some of those other competitors for our guys we'd have to be in something like a jack in the box or sonic. can't be in something as small as this even though he's a great operator. >> it reminds me of twitter the way it trades. it continues to slide down. we talked about not owning it on the way down but the bulls bring forth the same argument.
i'm sure when it's trading 38 i'll hear the same things. the problems are more structural than we realize. you have to understand the human capital component of a shake shack. that's clearly deficient right now. the slows are categorized as slow in service and overcrowding going in there so the experience when you look at the reviews aren't what they were months ago and they're spending all this money on expansion. that's going to weigh on markets. >> he said that they're not performing as well as they did. no kidding. that's the issue. they're not performing as well as they did. when it was trading at $100 a share, the shareholders were on crack. now they're on heroin. pretty soon they'll be smoking legalized dope in colorado but this stock is going to go lower. >> online would make this experience much better. i want to be able to go to an
app and go in the store, walk up and pay for it and walk out. >> you like starbucks. >> >>ar yeah. i think the bigger issue is what the consumer experience and how you're consuming food and how you're going about to buy that product and have the same experience. starbucks you can do that. you can order your cafe latte before you walk in the store but they were cited that they are seeing unlike their previous reports they are seeing sort of global consumer slowing down. the comps certainly have come in. they're still better than the rest but it's not as easy as it used to be so scale helps and ability helps but within the consumer there are so many other interesting plays. >> lower prices for a consumer for their stores directly. it's a premium priced product in a crowded space.
here's what else is coming up on the halftime report. with tech outperforming this quarter are there any values left in the sector. we're going bargain hunting ahead. plus valiant in the hot seat we have the latest in the criminal probe whether or not it defra defrauded investors. all that and more ahead. everywhere we work. defeating malaria. improving energy efficiency. developing more clean burning natural gas. my job? my job at exxonmobil? turning algae into biofuels. reducing energy poverty in the developing world. making cars go further with less. fueling the global economy. and you thought we just made the gas. ♪ energy lives here. narrator:kubo: est place come on, this way.e... narrator: ...is in the forest. kubo: wow. narrator: so grab your loved ones monkey: don't even. narrator: and explore a world of possibilities. kubo: it's beautiful. narrator: visit discovertheforest.org to find the closest forest or park to you.
18,616, that's where the dow currently sits. it's a gain. the s&p 500 is doing the same dance at 2185 and the nasdaq at 5,229 with the nasdaq approaching the record high. only one panelist says tech is still on sale which is interesting that you say that. >> i didn't know i was the only one. >> maybe some people look at the games. some of the stocks within it have had nice runs too. >> to those folks i would say that growth is on sale. i would say that you can focus growth strategy. we try to seek out high quality growth companies that have tail winds behind them so they can continue to go forward. information technology sector is
expected to grow 30%. if you pick out the names depressing those growth rates, that growth rate triples to 9% and it's trading at multiples with zero growth at best. lots of value in the information technology sector. >> people are going to look at maybe the fact that of the quote unquote fang stocks where facebook is up 20% and the group for the most part has had a pretty good go of it over the last few months except for netflix you make the argument that facebook is cheap. >> very cheap. don't look at the multiple, look at the growth rate and i would ask what is the growth rate for a company like facebook. it's 30%. you're paying nothing for that growth rate. the multiple is 32 times so slightly above the growth rate. in addition to that if you think about long term secular growth you're thinking about the ad markets shifting in their direction and they have
1.7 billion active monthly users that every single ad agency is trying to target. >> that's an interesting point of view. people have made the argument with facebook how much better can it get, the stock's done great, everybody believes in the business. >> it could get a lot better because the potential for international expansion. that's not appreciated by the marketplace right now. if you're able to really go the po beyond take the stock above 150. i agree with technology. technology has been the catalyst to lift us this quarter. if you look at the names though it's interesting to me that you own it is not hardware that you want, it's software. it's services. >> yeah. >> that's delivering the experience of time and convenience to the consumer. if i could ask you one name on there that's a name that i have owned in the past, got rid of it, put it in the penalty box if
you want to say that, what is the story with that. >> it is in the penalty box obviously by the market as well. big picture trend. spending is only increasing and these guys have the best offering and that is one-stop shopping when you think about fireweall protection. with increased earnings people are getting nervous and trying to figure out is the multiple worth the growth rate that might be accelerating. that one we're watching and it's one that we will reevaluate post earnings but still longer term for patient investors. >> i had to to a double take on the notes this morning. you bought twitter, right. >> yes. >> you've ridiculed the company, you've said you wouldn't touch the stock. >> yeah. >> why. >> it's a convenience that the
name is twitter but i've got this portion of my portfolio that's called my idiocy portfolio where i do things that are ab jekt stupidsy. it's a chart that looked good. there was an upside golden envelope trending. i made those terms up. >> it sounded believable. >> it did. it looked good. there's enough noise there, the way i look at it is the market is trending up and people will come in. particularly retail investors and they'll look for names they're familiar with where they see this move and there will be more talk about accumulation. they'll get jerry to come back again and talk about unusual activity and i'll be on it. >> exactly. you own twitter too? >> yeah. >> so he said he'll be in for
three weeks 2.2 days. i'll be in for three weeks 2.1 days. >> it has moved up and volume is up 26 million versus 22 million shares a day in the previous 30 days. there's an accumulation going on as it moves from 14 into the 20 20s. it was 44,000 calls a day and now the first eight days that we've got in the books in august, it's already done 95,000 a day is the average. so what i'm saying is it's under accumulation. whether it is the jack or one of these guys has decided sniff around and see if somebody really is interested because the turn around story they missed on revenue last quarter and they beat on bottom line, top line missed horribly. so i think it's being shot. that's what it feels like. >> the stock went up the day of
the no comment. >> right. we have collectively 11% of the stock or more. at least based on the previous filings and so forth. i'm not saying it's those guys but that's why i was riding along with this. >> it's riding higher during the conversation, that's for certain. >> back to your holdings and technology. when you look at the political narrative, let's make no assumption on who wins this election but the possibility of repat rash, you look at technology spaces -- >> no beneficiary. >> do you think m&a is the result of that cash coming back into the u.s., you look at a company like microsoft, do you see a lifting in 2017. >> yes. and i really do hope it's not a wish and it will come to fruition because we've been talking about the possibility of
repat rash coming through and it hasn't happened yet but the m&a conversation is ongoing right now. i've seen it as well. there's value to be had and the opportunities that are breathing in. >> i think m&a will be more overseas. >> i think it talks to the base and accumulation of growth assets which at the end of the day with gdp below 3% you need growth. >> coming up, valiant shares under pressure. that company reportedly the subject of a federal investigation related to filadore. alibaba stocks up now. our trade is just ahead.
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affiliate filadore. >> the wall street journal is reporting what the probe may be. they said the general attorney is looking into whether the relationship with the special pharmacy and the concealing of it is defrauding insurers. they could be among the largest of all the investigations into valiant. let's review what this is. it's a special pharmacy that valiant had a relationship with that boosted sales for drugs. after some allegations about the business practices there arose, valiant did end that relationship in october. however this is clearly continuing to follow it. but this probe itself is only one of about a dozen that valiant is facing. if you look at what they listed
in terms of their legal issues, you can see a dozen different agencies here all looking into valiant. some of those are focusing on other companies. we don't know the extent to which this will play out. valiant is saying their fully cooperating with authorities. throughout the investigation we're in frequent contact and continue to cooperate. we do not comment on rumors about investigations and cannot comment or or speculate about the possible course of an ongoing investigation. >> in an unbelievable week. if you can throw up a one week or week to date on valiant, the company had the earnings the other day and reaffirmed their full year outlook and the stock had one of the best days its had in such a long time, more than 20% and then now this. >> people hoping they were stabilizing a little more on tuesday and now questions are
being raised considering they're debt and the fact they have not a big enough cushion. david wells today putting out a note saying any sort of impacts of fines or fees they have to pay here, which we can't gauge right now, could have a big impact. >> did they mention i don't know the answer to this on the call did they mention setting aside any capital for legal fees? >> they've been asked and no. >> they won't do that. they'll do it when the accountants tell them you have to do it because otherwise that because their target for any settlements. companies shy away from doing that but in terms of the quarter that's not what got them going. what got them going was the asset sales and i would say if you look at the quarter the business trends continue toing negative. their sales are not growing, they're declining. >> you're talking about the ceo saying they had unsolicited
interest. >> when you say you're interested in selling your non-core assets and then he made the comment we've had unsolic unsolicited interests in our core assets, that may be along with keeping their full year guidance is why the stock is trading. >> his timing, i thought the stock being down 50% was bad and we saw what happened to that yesterday. >> maybe he was getting the old nudge. >> well, in an environment where they've generated their earnings on pricing with managed care crushing pricing nowhere to go. >> what about health care for you in the portfolio. >> health care is on sale. we usually in the focus world we have 40 positions but because we have much to like in the health care space, why? growth and sale. the sector is the second worst performer and it had a nice
rebounder this quarter. it was a great performer for the last couple of years and we think secular growth story is intact there. it's trading at a discount to market and it has the best growth rate going forward for 2016 and earnings are going higher. >> i was going to say are you owni owning allergan. the ceo announced his departure so they view their stock as opportunistic right now but there's options outside the business which could be dang buster. for aller gan the stock has been going down. >> m&a gone wrong. >> you can usually count on him. >> thanks as also.
here's what's happening at this hour. house minority leader nancy pelosi stressing again the russians are responsible for the cyber attack on the democratic national convention computers and that attack happened prior to the dnc convention. she called it an electronic watergate. lawyers representing plaintiffs in the volkswagen emission scandal will seek up to $333 million in fees. a final request will require approval from the judge. panera has issued a kids promise. no artificial flavors, no precertifitives or sweet nerz and it will not encourage kids to drink sugary beverages. donald trump was talking about a variety of subjects this morning but listen to what he had to say about his immediate future. >> i just keep doing the same
thing i'm doing right now and at the end it's either going to work or i'm going to have a very nice long vacation. >> a lot of people are wondering what he meant by that, whether he's sitting up an exit strategy or not. who knows. >> we're going to have more later in this program by the way on more of what mr. trump had to say to us this morning. >> it was quite extensive. >> yeah, it was interesting for sure. thanks. >> sure. coming up, crude oil is spiking in just the last few moments. we're going to go to the futures coming up and plus candles and fine china, we'll go under the radar with a consumer name being bought right now. the shares up 60% in the past six months. ♪
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coming up at the top of the hour on power lunch today hillary clinton is gearing up for a big economic speech. we'll be carrying it live on the program. she has an aggressive plan to try to revive growth but will it work. it's back to you. >> we'll see you in a bit. earlier in the week carl icon called in to reaffirm his support for donald trump telling me he likes his economic plan but mr. trump made a quote mista mistake in the comments he made about the gold star family. i asked mr. trump if he agrees with mr. icon when it comes to the khans. >> as far as mr. khan i think it's been said by everybody i think that's been very well talked about and that's been put to bed a long time ago. >> do you agree with your friend
carl icon that you made a mistake? >> you'll have to define what a mistake means. we're not here to talk about that. we're here to talk about economics and finance and our infrastructure but it's been put to bed for a long time and i don't think there's any reason for you to reopen it. >> that was mr. trump this morning. we did ask him about his plan on taxes and infrastructure. joe. >> i think clearly mr. trump wants to focus on the economy, wants to talk about finances right now and as someone that i've given money. >> you're a supporter and contributor. >> i am. i would like that message to continue because i think donald on that metric clearly stands out above the other candidate. so focusing on the economy and finance is something i think he wants to do. in regards to mr. khan, i'm not going to put words in his mouth but as a supporter i wish maybe he would have said maybe i did
make a mistake with mr. khan. i don't think that benefitted him in in he capacity for the narrative of the election but hopefully this can be a conversation about the economy and finance going forward. which is what the market is walting for. we have to invest today and we have to think about the long term trends what might hold in 2017. >> let's do our traders list
now. reported an 18% increase in active buyers. >> so this is a stock that's hitting a one-year high. we don't own it but i think the results confirm these guys are going to be at the forefront. you have two in one for amazon. we think there's plenty of room to go. >> it's a 52 week high. overlooked stock or what. >> they've been buying calls on this one for a while so this has been a fantastic move. the problem is i get these little moves here and there and then i get out of them too fast.
this is one i got out of too fast. >> under armour getting a lot of visitability at the olympics and now they make management changes. >> and the market is planning those management changes and that's what's got stock going for them. new design and marketing people were promoted and brought in so that's got the stock going and hopefully it means something new for the stock but it's a big lift. >> chessa peek. >> we knew they were going to sell barnet. oil and gas moving as they are today also not hurting them. it's a nice move today. i think the stock gained some momentum if it holds over five years i think it can build on. >> joseph twillio. >> going higher. the initial analyst reports and
price targets i thought they were light. now you get the earnings report. what do those analysts have to do, they have to come back and raise price targets and they have to raise the rating. >> all right. coming up tracking the options. plus crude continue to rally at nearly 5%. pretty good day. we'll get the latest on the spike and what's drive it and we'll do it next on the halftime report.
welcome back to the halftime report. crude oil is surging at this hour. jackie has her finger on the pulse of the oil market as always. >> good afternoon. oil prices are up almost $2 at this points in the session. obviously there is some talk out there about the saudi energy minister. he's saying that the kingdom will do what it can with the market rebalance. we've heard that before but it does not mean that will help the oil prices and that's what's moving the market today. >> we talked about it yesterday and this week being an upweek. this is more than i thought it would be but opec is like the u.s. fed, there's a lot of talk and the action really takes a lot of meetings for it to come to fruition. i think that's what's behind it but i don't think it will last much more than this week. >> brian, you're looking at the
levels for me. where do you think the levels go from here and how much more up side from today. >> it looks like we want to target this $45 level here in the short-term. i see us getting above that level and longer term we need to trade above the 46 before we start to push to new all time highs. certainly there's this tug of war between demand and the high which will cause it rebound here at these 40 levels but these moves over the last few days are on the up side and i think 45 is on the up side. >> the iea says it think the rebalance is going to take longer. a lot of factors here to consider. we'll see ou the online show where we're talking more oil. we have paul hikey with his view on the market. >> thanks so much. yesterday helene mckroft
said people were too soft on oil. >> what component of it was she talking because -- >> she's not an equity person. >> i don't want to focus on not spot price of oil right now. >> not the equities. >> let's focus on energy equities and let's focus -- this is a tough show for me. let's focus specifically on something maybe you haven't heard us mention. refiners. this is the opportunity. iea just put out a report talking about the amount of product that is being used globally right now soaking up all that extra crude oil production, high-driving demand, 600,000 barrels a day on the refining side. so finally after such a horrible year to date performance these refiners are building some
positive momentum behind them. you're seeing tail winds for the first time. >> where do you come down on energy right now. >> it's a tough one. you have to get two things right. you have to get the commodity and currency right. stock in th energy space, dublin energy. we bought it in february, declined. it's done really well. we continue to hold on to it because it's doing some right things, company specifically selling assets and benefiting from this recovery in crude oil. >>. >> you have one of the largest short books in the commodity that we've seen. we're seeing that pushback. coming up, the things our experts are watching you might be missing today. the one stock she's focused on in a couple good space. it's up 20% this year already. how much more room can it run? she'll tell you next. i'm here at the td ameritrade trader offices. steve, other than making me move stuff,
what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. td ameritrade. announcer: are your children in the right car seat for their age and size? it may be too late to check when you're on the road. [blaring car horn and skidding] fortunately, you're on the couch.
we're back on "the halftime report." time to go under the radar now to uncover a stealth opportunity you may be missing. deanna barton has it for you, and it is newel. >> ticker nwl. you're probably familiar with a lot of brands under the company's umbrella, but you might not be familiar with the stock. for all the moms out there that use baby car seats and strollers, for all of us writing across the world, sharpies and other great ballpoint products.
this is a company that at the end of the year announced acquisition with jarton. there were concerns that the company is not going to have to go through this acquisition and merger. six months forward, almost eight months later, they just reported very strong results, 5% organic growth. and this is a company that's still trading at a discount to other consumer-like companies. 19 times, growing faster. we like it in our focus growth strategy. >> stock is at an 18-year high, and year-to-date, it's up 24%. but you said, it's still trading at a discount. >> that's right. it's not just -- the price appreciation, we look at two things. we look at the multiple, which is the sentiment on the stock, and you look at earnings growth. we think both can continue to go higher. on the multiple, i can close that gap with other consumer firms. on the growth rate, if it continues to exceed some of the synergies, half a billion, maybe more, it will come through on the earnings line. >> just three hours to go until the close. we're going to get your final
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"power lunch." let's do some unusual activity. what do you see? bullish buying where? >> and our friend carl icahn was one of the many catalysts. he was rumored to be taking a ste stake several times in wynn. the one i bought, boyd gaming. i like that one better because it doesn't have the rumors on icahn. >> someone was throwing around a rumor of icahn around wynn. that's what you're talking about. >> that's what i'm talking about. and it doesn't also have exposure to mccown. but it does have five times the open interest trading. so i got in there, bought stock, bought calls. these are options that expire next week. so they went from ten cents to 40 cents. so how would you like to triple your money overnight? anybody who bought them early did that. i'm still holding them. i'll probably hold them into the
middle of next week. >> she's from boston. >> we have about a minute or so left. what do you think about between now and the end of the year. do you think a fed makes a move on rates? >> i don't know. i don't think anybody knows. i think going back to the waiting place, stop waiting for the answers on the fed, geopolitical uncertainty politics, earnings, we keep waiting. start investing. that's what we do. we take a long-term approach. try to find quality companies that are trading at a discount and ride out the wave. and invest for longer than a day. >> what about -- and we have 30 seconds left. growth versus value. people are talking about a rotation. >> absolutely. every year we talk about it. last year, it was growth over value. this year it's value over growth by about 300 basis points. russell one value is about 9%. it's understandable given the dividend yield and search for yield at any price. and then that cyclical recovery
we've seen within the energy material space. we think over long-term, if you can identify companies that are mispriced based on their fair value in earnings growth, you're going to do well. >> thanks for being here. >> thank you. >> let's send it over to "power lunch" now with the dow at the highs of the day. guys? >> and that is a good place to start. thank you very much. i'm tyler matheson. welcome, everybody, to power lunch. here's what's on the menu for a very busy thursday in august. firing back, hillary clinton moments away now from delivering her pointed rebuttal to donald trump's economic plan. we'll bring that to you live the moment it begins out in detroit. on the attack, though, donald trump sounding off in a big interview this morning on cnbc. scott was there. more on what he said this hour. and, nfl hall of famer dan marino is in the house. we'll talk everything from his favorite stocks to his big