tv Power Lunch CNBC November 11, 2019 2:00pm-3:00pm EST
join melissa on power lunch in just a few seconds from now. i'm sure she's ready to take it away : i'm here i'm ready. we'll see you in just a moment here is what's new at 2:00 on power lunch. the boeing boost as the company says it could resume delivery of 737 max as soon as december. a shopping surprise. one top analyst says the holiday season on main street is shaping up to be better than wall street is expecting we have the man behind the call. later wework may be getting a new ceo. john ledger in talks to take the top job. back in september he said he's the perfect guy for it power lunch starts right now let's take a look at the markets now. the dow turning positive barely for the day after being down
triple digits. the s&p 500 and the nasdaq in the red. walgreens is jumping on renewed reports that kkr has made an offer to take the pharmacy market giant >> i covered the 25 feet from the exchange's desk over here in about a minute and a half. i haven't lost a step. boeing shares having their best day since june after the company upgraded its progress on returning the 377 max to the skies. phil has the developing story. hi, phil >> let's run down the time line that boeing put out this morning. looks at december and january. those are the crucial months for the max getting back in the air. in december what the company is planning is that you have faa certification. once that happens you'll resume deliverie deliveries in january they expect the pilot training rules to be set and then depending on which carriers
are ready, they could resume commercial flights by the end of january. southwest and american, two of the larger airlines around the world that have the max in their fleet. they both said they are not going to be planning on flying it until march we expect to hear from united this week or next week if it's going to push back if planned for flying the max as for boeing, take a look at the stock over the last month, remember it reports orders for the months of october. that will come tomorrow. we want to take a look at the backlog. has there been any cancellations or conversions we want to take a look at shares of the airline index the reason we're showing this to you, it's benefitting and has benefitted over the last couple of months this idea is limiting airlines from adding too many seats into the air that will be an issue when the max comes into service beginning in first quarter of next year.
>> you raised a very interesting point when we talked an hour ago and that will be what will be the consumer acceptance of this equipment on flights do we know what that acceptance may be does boeing know i have to think they are gathering information on whether people will look and see whether it's a 737 max and go i don't want the take that fight >> i have put this question to a handful of analysts. those who i think do the best job of forecasting the public's reaction to different aircraft prices, et cetera. they cover the airline industry. all of them have said the same thing. i have no way of game planning this there's no way of knowing putting stuff on twitter, facebook saying look what i'm supposed to fly today. no way am i getting on that plane or if it's going to be maybe a flurry of activity for a week or so and people start to forget about it. no way of knowing at all anybody who says i know how the reaction will be, they have no
idea either. lit be different around the world. different here in the u.s. than be over in southeast asia or africa >> phil on friday i believe you reported that boeing wanted to start delivering 737 max in december but needed faa approval i'm wonder if the faa said go ahead. does this means once boeing makes the delivery that it can book the revenues? >> first of all, i double checked with boeing and boeing said we're not looking to deliver airlines to airlines until the faa gives us the certification. that's not going to happen there's been some concern that they are running out of places to park the planes they are constrained because of space out in the puget sound area there's enough airfields that you can park planes that have been built but not yet delivered. the idea they will be sending to the airlines ahead of time, i don't think that's going to
happen i think we see deliveries begin when the certification happens >> okay. thank you. investors cheering boeing's time line. shares on pace for their best day since june but is the worst over jim, great to have you with us >> thanks. >> do you think the worst is over they got a few chairman who did well on tv and now the time line is changed and the stock is up there's a lot of check points before they can bring this plane into service it's got to take the recertification and get approved boeing is moving in the right direction. i think the most important thing
is the paradigm is shifting from if this plane comes back into service to when it will come back into service. >> when can boeing start booking the revenue in this time line? >> i think they can start booking on delivery. things start moving in the right direction if not late december then by mid-january. >> we just talked with phil. i assume you heard it where we asked about what the consumer acceptance of this aircraft is likely to be do you have any perspectives on that do you think people will stay away from it not care care about it for a little while and then forget, what? >> i have a unique perspective since i cover aero space and airlines it's been my perspective they go with their pocketbook. there may be some initial
hesitation the first week but as we compile data showing they are flying safety, they will put out major pr push about the changes made to plane. i think passengers will fly the planes they have limited number of choices. number two they will be overwhelmingly safe and they will be a huge pr push put on by boeing to help that along. >> i understand that planes on order or in backlog and it's not easy to switch in future are you worried that carriers have grown if you haved with boeing because of this incident i'm thinking of this new york times article and interview with doug parker where he expresses once again his frustration with boeing he says it's not the faa changing conditions, it's the manufacturer setting too aggressive a view as to when they will have the conditions met or not being able to deliver what they said they will deliver. i'm wondering if you think boeing has a credibility issue
going forward for future orders of planes. >> yeah, i think boeing entire legacy and credibility is on the line they need to get this relaunch correct. they're entire reputation is on the line it's much harder for southwest >> are you concerned that will happen >> i think american may be posturing for a better price from boeing. i think that may be posturing. the economics of the 737 max are compelling >> i would imagine if i'm an airline ceo, i will drive a harder bargain than i would have three years ago for tlifr ris of this plane and maybe other
boeing aircraft. >> i think that's true i think you have a unique position if you're an airline executive that wants to buy planes krou can get an excellent price like an initial launch customer would get for a new aircraft order. i'm sure the planes are on sale now. >> have you modelled that in that the planes are on sale? >> i have modelled some of that in if you look at 2021 it's much more normalized. >> great to speak with you >> thank you pause in progress between the u.s. and china's trade negotiations amid rising tensions over in hong kong
we have the layest details on all of that. >> any day that passes without news of development produces fears of a stale meat matstalem. people close to the talk suggest the hong kong escalation could add some pressure on president trump xi jingping to secure and sign a deal in short order, at least that's the u.s.'s hope this week in washington is ripe with its on distractions as the impeachment inquiry goes public as president trump hosts turkey president as negotiations on government fund and the nafta deal intensify ahead of those deadlines. it's movement on china talks and this week could prove critical
as the u.s. tries to secure that deal thank you. coming up, alibaba says singles day starring taylor swift was a huge success we have all the details. what about retail spending in the u.s.? only 43 days leftuntil christmas. power lunch will be right back plap just ok? guess who just got reinstated! well, not officially. nervous? yeah. yeah me too. don't worry about it, we'll figure it out. i'll see ya in there! just ok is not ok. at&t has america's best network, now with our best plans, at our best prices, starting at $35 a line for 4 lines. new from at&t.
plap. pulled out the stop for taylor swift concert the title fits we have more >> so, this year sales topped $1 billion in the first minute. compare the $38 million this year with last single's day where sells were closer to $30 billion. compare to $7.8 million in 2009. this year taylor swift performed. last year it was mariah carey. live stream is a huge component. this year's sells were closely watched.
nike did well. the jewelry category saw robust sales. >> thank you all right. the chinese consumer is showing no signs of slowing down here in the u.s. with just 43 days away from christmas the firm still says risks remain in tariffs and wage inflation. here is theagist behind that call greg, welcome. good to have you with us >> hi. >> why are you feeling a little more about the pace of retail sales. >> if you look at two key components for retail sales, the jobs market and the second is the wealth affect. both have gotten better. the jobs numbers have been better we look at underemployment which has gotten to a record low level
this cycle combined with the stock market of new highs that should help retail sales so we took our forecast from 3.5% to 4% from the fourth quarter this year and 2020 >> you have out perform ratings on amazon, bj's, costco, home depot and lowes and neutrals on target, walmart and dallas tree. what makes the out performs out perform and what nmakes the neutrals neutral >> the out perform is which retailers are getting on right you see consumers asking for more multichannel. we still think the secular trend of ecommerce is with us. we think probably in ten years that number will be closer to 30% with a lot more being omni channels we think it's not fully in share
prices yet >> walmart and target are neutral. is that because of their rin and where they are valued right now? what should they be value at >> the issue is really valuation. walmart has been a great job of putting it together. we could encourage people to look at other names. target is doing well on the multi channel front but the stock is up like 60% this year this is our base case. we do think there are risks for tariffs. you can see the market reaction today. we probably have to cut that
earnings growth in half if you saw list 4b go into effect some of those risks are bigger for names. you'll cut the numbers because the retailers would have to absorb the cost. there's the double whammy. the wealth affect is the rise in the stock market and those tariffs go into effect, i would assume that would impact how that gets factored into your forecast as well >> it's a great question some think there's a near term and a medium term. in the near term given would be december 15th. i don't think that would show up in inflation for this holiday. the inventory has already been bought it will probably be in stores by december 15th. we're really talking about the 2020 estimates where we would estimate they won't be able to pass it through. the consumer in a good spot, good wage growth but if you try to pass through that effect there will be some demand.
>> is amazon your favorite in this group i can't think of another -- i think of disney that has multiple ways to make money. they have their core retail. they have video. they have production they've got whole foods. we think what you just described, we could call a platform company we would say home depot is a high quality platform company that can find ways to expand their market and monotize it you rightfully point out in the case of amazon, we think this investment cycle could be one of the shortest on record for them because they are advertising
business looks like it will grow 3.5 to 4 approximabillion next the year after >> i didn't even mention advertising and the cloud business great to see you as always >> thanks. shares of t-mobile are dropg rig -- dropping right now reports of their ceo john legere has been talking to wework about the top job there. ♪
♪ not much, how about you? >>are you answering my text in person? i am...yeah. >>lol. come on in. this is tech that helps you be there. the nissan altima. now offering the most tech-advanced engine in its class. woi felt completely helpless.hed most tech-adonline. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555.
we are people helping people. welcome back check out tesla. the shares are racing higher today. analysts getting more bullish on hopes that tesla can keep driving profits higher let's bring in your trading nation team. what do the charts say >> the key positive for tesla is macr conditions are supportive here equity markets breaking higher
i bring this up because this is the last time we have seen this type of strength in tesla where it's surging higher to the up sid side tesla topped out at about 385. i think that's the long term level to watch the stock isn't there yet. i wouldn't bet against it. however, you can also see from that chart very erratic behavior up and down. after 30% rip over the last month, not one we would be highlighting as a tactical idea either >> john, what do you see in fundamentals what do the numbers tell you >> i think valuation tesla remains too expensive for my blood. you see two quarters of back to back positive cash flow growth we have seen the story before.
they blew up one for thenext quarter. i think with the stock trading, i think tesla be better off viewing equity shore up the balance street and start preparing for future growth with excess cash. that's just my opinion i would stay away from the shares >> it's an interesting performance. when you look at the one year it's flat. if you look at the past six months it's up 40% tesla will give you a ride but you may not go anywhere. thanks very much ahead, the warren factor we know elizabeth warren is no fan of big pharma but one analyst says bio tech could be at risk if a different candidate takes the lead wework tapping john legere
it's the idea that if our mothers were diagnosed with cancer, how would we want them to be treated? that's exactly how we care for you. with answers and actions. to hear your concerns, quiet your fears, lift your spirits. that's the mother standard of care. this is how we inspire hope. this is how we heal. cancer treatment centers of america. appointments available now. cancer treatment centers of america. each day our planet awakens but with opportunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here.
cme group - how the world advances. whether you're or here on a wifi hotspot. xfinity mobile has more coverage to keep you connected to what matters most. that's because it's the only wireless network that automatically connects you to millions of secure wifi hotspots and the best lte everywhere else. switch now and see how you could save up to $400 a year. and get 50% off when you buy any new lg phone. xfinity mobile. click, call or visit a store today.
measures to stop myanmar's conduct immediately. vice president pence laying a wreath at the tomb of the unknown soldier at arlington national cemetery. later he delivered remarks at the department of veterans affairs. >> today here at arlington and all across this nation, americans gather to pay a debt of gratitude to the generations who answered the call to serve in the armed forces of the yi . united states. the planet mercury is making a transit across the sun it only happens about 13 times every century. it occurred when mercury passes between the sun and the earth. you can't really see it with the naked eye but make sure you have the right filter on that telescope. back to you. thank you very much.
markets, the dow flat. the other three market barometers are down. i would say the russell down a quarter of a percent time for today's power movers late friday was announced the cfo sold 70,000 shares the stock lost a quarter of its value. wynn resorts falling.cientific s tumbling down 7% after a huge gain on friday could t-mobile's john legere save tt-mobile
>> it's a big john somebody's got to do it. he's anumber of candidates that wework is considering as ceo the two sides are in discussion although nothing has been decided yet. shares of t-mobile slid on the news ledger is expected to step down. sprint's chairman is serving as wework chairman and has been leading its turn around. last month sprint is another soft bank portfolio company. the two were not shy about making jabs. wework and t-mobile have not responded to requests seeking comment. softbank declined to comment back in september on closing
bell, cnbc contributor said legere would be the perfect candidate to lead wework listen >> who is there out there? somebody who is close to is softbank people. trusted, loved by them whose all dressed up and ready to go pretty soon is john legere you heard it here first. i think there's some rumors that are starting to spread that he's the perfect guy for the job. you nailed it. they seem to be talking. >> you have to be nice to me i was lucky. where ever john legere goes, that's the place to buy. i thought that weworks were circling the drain until this kind of news
i'm buy world com if john legere was there. >> was this a hunch or was it signals? >> i've known john a long time i've just been tracking him. he's got a contract that will be expiring pretty soon it's december 9th. any number was was formally named president was promts proma couple months after the deal might get to the ceo job this was not much of a hidden secret >> he's on the market. >> he's all dressed up going somewhere. that was part of it. another part is there's nobody else on the planet that has the same experience of going into
over hype environments and having the financial wherewithal to tease it out. he's had a relationship with his son that hardly anybody has had. >> back in september, you said something to the effect that you don't think he should take the job. that he would take the job i'm wondering why you said that. >> i think he would because he likes a crazy -- >> why shouldn't he? >> well, i didn't think he should have taken the global crossing job it was the democrat's equivalent of enron as we were saying back then it was a bad situation people thought it had no value john managed to sell off the pieces for value
you look at other opportunities from facebook and yes i don't think that would be a stretch for him. for uber, this is not a good weekend. between uber or facebook and tesla, i think e llon musk would be able to work with somebody like john. he would make wework, work. >> it was -- it agree it was bad instincts it was bad day it was a dumb attack
you can forgive any one of us. how many times do we say things that i've regretted. that was perhaps his bad moment. his moment fighting with last week at andrew's event, there's arguing whether there's profitability as they looked at that to take on saudi arabia and i would share a lot of criticism over that is he was taking a tepid position it's guaranteed to offend everybody. apparent lly it's very tough, tt was not a smart place to wander into it's not a comfortable position
he's in now. he's a good person he's not greedy and yet he clearly looking a little bit lost in the saddle at a company that disappointing results come out and also part of the umbrella part of the softbank umbrella. i can see john doing a fantastic job going into uber. what we see is this is warning shot going out or an alert sign that john legere is back on the market he went to consumer electronic show he got in to see a rapper and got escorted out by the police he manages to make a big splash. >> he does arrive with a big footprint. we appreciate it the trump administration taking a hard line on vaping planning to ban all flavored e-cigarettes but as deaths and
illnesses continue to rise, the white house may soften its stance >> it's been exactly two months to the day since the trump administration announced it would implement a flavor ban across the board now in a tweet the president saying he plan to meet with vaping industry officials together with medical professionals and individual state representatives. he says to come up with an acceptable solution. children's health and safety together with jobs will be a focus. among those concerned about jobs are vape shop owners who own this vape shop in new york she said she's seen a major impact in her business from all the focus on e-cigarettes. >> almost shop in new york has lost between 60 and 80% of sales. we have been struggling to stay open most of us have laid off employees. cut down our expenses as much as possible a lot of shops have not paid their rent and we're putting off
our landlords to try to make sure we can stay business until this is over. >> vaping industry add voe cvoc warn there could be a cost for trump saying it would impact votes in the 2020 election they attended rally at the white house. they argue that flavors are necessary for adults to be able to switch from smoking cigarettes those concerned about the youth use of cigarettes say there's a political problem for trump there too. the president of campaign for tobacco free kids saying it's not only bad public health policy but bad politics. saying this is an issue including parents of suburban moms across the country feel is very important this could cause trump the election back over to you >> thank you very much coming up, chewy gets thrown a bone instagram dislikes likes and how
jeff bezos wants to spend some of his billis. onat i love most g a scientist at 3m is that i'm part of a community of problem solvers. we make ideas grow. from an everyday solution... to one that can take on a bigger challenge. we are solving problems that improve lives. to one that can take on a bigger challenge. ♪ ♪ i've been a caregiver for 20 years. no two patients are the same. predicting the next step for them can be challenging. today we're using the ibm cloud to run new analytics tools that help us better predict and plan a patient's recovery. ♪ ♪ ultimately, it's helping thousands of patients return home. and who doesn't love going home. we believe in education built for all people., - [woman] snhu was the best experience of my life. - [man] without snhu, i wouldn't be the leader i am today.
- [woman] i graduated high school 19 years ago. i still finished. - [man] in the military, you feel that sense of accomplishment. that's what snhu is. - you will march from this arena and say to the world.. i did it. - [woman] you did it. i love you. - [graduate] i love you too. woi felt completely helpless.hed online. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere.
prevagen. healthier brain. better life. i'm happy to give you the tour, i lohey jay. it. jay? charlotte! oh hi. he helped me set up my watch lists. oh, he's terrific. excellent tennis player. bye-bye. i recognize that voice. annie? yeah! she helped me find the right bonds for my income strategy. you're very popular around here. there's a birthday going on. karl! he took care of my 401k rollover. wow, you call a lot. yeah, well it's my money we're talking about here. joining us for karaoke later? ah, i'd love to, but people get really emotional when i sing. help from a team that will exceed your expectations. ♪
this month's new york art auctions are expected to see the biggest drop could it be a sign of economic slowdown >> more than a billion dollars worth of art coming up for auction. the total is expected to be down 20% from last year that's the biggest drop since the financial crisis the real trouble is at the very top of the market. that's painting that sell for eight or nine figures. now two years ago remember we had the da vinci that sold for over 450 million 30 to 40 million dollars hockney could fetch 45 million a big drop from the one sold
last year from 90 million. art experts blame slowing growth overseas, brexit and removal of a tax loophole that allowed collectors to sell paintings and train up without paying capital gain taxes art still performing well. here is a taste -- >> it hasn't changed much. >> it's still blue over red or blue over yellow >> some better in the stock market plus you get to look at it every day >> that loophole is really something else a dealer can buy it and i can sell it to tyler for twice the price and i wouldn't have to pay capital gains? >> as long as you put sbiit int
another painting >> it's like a light kind of exchange >> exactly they removed it for everything except real estate here is taste of some of the other stories we're following. chewy might emerge as one of the top dogs amongst the ipo initiating coverage forecasting double digit it credits these also estimating that chewy could turn a profit in 2022. stock had been up despite a rough last three months for the company. >> there's not a lot of barriers to entry here. you talk about motes >> amazon is already there the auto subscription where you send dog food every month. that exists on amazon already. analysts like this one instagram changing the way
millions of users interact with the app. the platform is getting ready the hide like counts from u.s. users as early as next week. instagram has been testing the new feature for a few months in a dozen country. while this might hurt influencers bottom line, it could have a positive affect in young users mental health. studies linked higher rates to depression and teens with the increasing use of social media what they propose to do is if you get a like, you can see it but the like button is not shared globally with everybody you can see it but i couldn't see how many likes you get >> i hope it helps it's sad they are so dependent on social media to give krou yo positive feedback. jeff besos is interested in purchasing an nfl franchise.
he has strong support from owners who joined their ranks despite none of the taems eams o sale the carolina panthers were bought for $2.2 million. slim pickings out there. >> the late co-founder of microsoft in seattle would be a natural choice for him i don't know ff others there's talk of some teams moving to london he's got the money to do it. >> he does elizabeth warren's rise in the rank among democratic candidates have a lot of people worried about her impact on the stock market we'll look at one sector that heuld be hurt if warren is t nominee or if she wins than just free trades?ffee fidelity has zero commissions for online u.s. equity trades and etfs, plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else.
as a longtimepharma critic, some worry that she could pose a risk but a moderate candidate could do some more damage. with us now is ronnie gallup, a senior analyst at bernstein. how would a moderate candidate be worse >> unless the democrats get to about 60 senators, it will be very hard forthem to pass legislation without some legislative support. and you have the blue states with very heavy pharma exposure. massachusetts, new jersey, california, lots of employment, a lot of wealth have been created by the biotech industry in those states. and the notion is that when push comes to shove, some of those representatives and senators will not tell the sharpest line that warren wants. on the other hand, if you get somebody like bloomberg there, or biden, he probably will be able to pull some of those republicans and democrats to have supported more of a bipartisan bill on the senate finance committee into the fold.
so warren does have the sharpest voice and a scare in the drug industry, but you look two, three years down the road, it's being able to create some sort of an agreement with the moderate republicans that will allow somebody to pass legislation. >> so the extreme solution that would do the most damage to the industry would be off the table if an extreme democrat were -- and i use that in parentheses, in quotes -- whereas a moderate one would be able to get that piece of legislation through. >> that's right. if you look at what happened already in congress, they're all looking at the polls and the polls tell them 80% of the public wants some action by the government of going into drug pricing. as a matter of fact, the majority of republicans, people that said that they would vote republican want the intervention in drug pricing. even the republicans know that something needs to be done, but they want to do it carefully without damaging the industry's
position long-term and to do that, they were willing to put some caps on price increases, they were already willing to have some of the payment for the donor polls to make the out-of-pocket costs lower for seniors, come out of the pockets of the drug industry and some other small issues that the drug industry does not love, but is willing to live with. now, we talk about a position that basically says, well, the government will negotiate drug pricing. and if you do not like our position in the negotiation, then we are going to, by decree, either force you to give up or accept the prices we want you to is not something the republicans can live with. and frankly, if our representative from san francisco or boston, i don't think you can accept that, either my take is, that is not going to happen, at least not -- >> the negotiatability problem >> so it's possible, but it's got to be in a way that actually makes sense. and even that is a pretty extreme position that a lot of
republicans will not take. if you think about, look, we'll create some sort of a mechanism to determine what is the fair value of the drug to the patient, how much cost it savvis el elsewhere. and it doesn't make sense. if it's just one way of negotiation, my way or the highway, we're living in a democracy and you cannot take someone's product away because you feel like you deserve it >> are you factoring in political landscape yet or no? >> i am some and so do my peers. we're adopting some kind of a moderate line, if you look at the valuation of the drug on the street, it's the lowest it's been in 20 years, if you average 2019 and that's probably reflecting in some sort of an expectation of a 5% or so hit to the drug industry's profitability but, you know, if we're talking about an extreme solution, we will be dropping by a lot more than that. >> one extreme slougs would be international pricing index and
that would drop the sector 20% wu you say? >> at least. if the r&d is same and the global infrastructure is roughly the same we pay two to three times what other people pay for drugs costs don't go down. >> that's money out of the box and that will be a real fundamental change >> ronnie, great to see you. ronnie gal with bestrnein. >> check, please! is next when we return. it was sophie's big day.
by the way, she's the next mozart. as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. [maniacal laughter] gold. gold! right, uh...thank you, for that, bob.
check, please. >> we were just taking a look at boeing, pretty much at session highs, up by 5.75% or 18 points and that's about 126 points on the dow, so we would definitely be in negative territory on the dow if it were not for boeing. and you've got to wonder, given the news flow if we've seen the worst for boeing so far. >> and they seem to be saying they're ready to roll the thing out for a january return, but airlines have been pushing it back to march, right >> yeah. >> i think american,certainly southwest, and i believe american have now said march and we were talking with phil lebeau, there really is an unanswered question, and that is, how willing consumers are going to be to fly on this aircraft >> i'm not going to be the first one, i'll tell you that much >> and our guest earlier said there's going to be a huge pr rollout. they've got one chance to get it right. they better. >> absolutely. >> we had on the commissioner of the mls soccer
they had a record sellout crowd where the sounders won the mls cup. congratulations to the sounders. the tv ratings were good, and good on you for the mls. >> jeff bezos is looking to buy team maybe a soccer team instead. >> "closing bell" right now. >> welcome to "closing bell. i'm courtney reagan in today for sara eisen i'm here at the alibaba post that company announcing record-breaking sales for singles day. we'll have more on what that means for the consumer in china and other key market-moving headlines you'll need to know in this final hour of trade 59 minutes left to go. >> let's take a look at what's driving the action today walgreens is the leader in the dow. or it was. it has been formally approached about a leverage buyout. boeing helping to raise the dow's earlier losses they could begin commercial services in january, and overseas in asiath