good morning welcome to squawk alley. carlson his way to florida and that is our top story, of course, of the morning hurricane irma the national weather service downgrading the storm to category 4 earlier this morning, still packing devastating winds up to 156 miles per hour team coverage this morning with nbc meteorologist back at hq jackie is in ft. lauderdale. what can you tell us about the path of the storm? it s on track, continuing to move to the west-northwest at this point between the bahamas and cuba over the day to day and looks like it s on track to make a land fall in south florida early, early sunday morning. so we ll start by looking here off to my right. because not only do we have the category four storm of irma, but we also have jose now category 4. so back to back category 4 storms in the atlantic at this point. but, of course, our main folk us is going to be irma. so if we look at the alerts that are going on throughout the area, it s going to be rig
of edged up yesterday. jamie dimon am i too early in that promote? yes, you are permeant yesterday, you got me all confused. i m all over it they re producing a lot, but they re not but they don t have the pipelines. let s get to the road map this morning. we ll get to oil but for now, we re going to talk markets. the dow s win streak is at 10. you saw their futures are looking, at least for a lower open plus, michael koors and ralph lauren delivering some upbeat news you got that right, upbeat for the retail sector. both of those companies beat the estimates of the analysts. follow them. koors up a lot cbs coming in better than expected but they lowered guidance, so the stock is down. basketball, ad sales. oh, i thought you meant cvs no. oh, you have to say channel 2. all the time on the trading desk, you never use the term cbs. you say i ve got 50,000 channel 2 to buy too many people bought cvs and that stock is down never use cbs for cbv. okay.
are with us. let s start it off with you. this idea that it is one of the bigger sectors relatively speaking, the s&p 500, but it s also, remember, one of the fourth worst performing sectors so far. say a look at the year to date losers. interesting stories lines start to play out in terms of the particular stocks and themes drieding the trading. kohl s is down 19% and fossil, belts, watches, that sorts of thing, down 21% as well. if you take a look at some of the other stocks that perhaps are on the other side of this, you see the winners. off price retail, tj max up 5%. ulta budy up 10%. lulu lemon is up 17%. the biggest one everyone talks about is one that hasn t gained a lot so far this year only up 5% year to date. it s amazon.com. but remember, one of last year s top performers and courtney, i got to sashgs one of the interesting things about this whole discussion is this idea of these stocks as melissa, i don t know if there is a theme that drives all these together.
let s bring in michael ye and another health care analyst. michael, first you to. given the deals that we have seen, not just today but in the past, why do you believe a biomarine or vertex may be takeout targets down the line? two reasons. one is if you looked at biotech valuations, they re down 35% off the top in the last 6 to 8 months on political rhetoric that we talked about. so asset prices have come down and become a lot more attractive. the second point is that there s no change to the fact that big companies need commercial products and they need pipeline. that s exactly what you re seeing. and what will those companies have that make them attractive you to or to potentially bottom? les, we can hear you. we ll get to you in a second. what makes them potential buyout candidates? both vertex and biomerine have real revenue. they re out there right now plus pipelines. you get both of those with that. and so both of these companies have asset value to acquirers
him out of that hole into the ambulance and to highland hospital which is just a few blocks away. this has been a very long, slow painstaking process trying to get this man out of the hole. it appears that they are getting closer and closer. a few times we have seen the other firefighters on the lawn pulling on the ropes that are attached to a pulley at the top of the ladder truck looking like they are ready to heave the vic out and stop and relieving the tension on the lines and get back to work on the hole. we can see what is happening in the hole. we can only watch the activity outside. they are still working inch to an inch. the lines are slack and they haven t been pulling but hoping that it is close. that man has been there for four hours frank and julie. we heard the man is in his 50s. have you learned anything else about this man? who he is or where he is from? reporter: we have not. we don t have his name. we don t know anything at all about him other than there