Feds speak is bouncing us all around the block. Well get to that. Our road man begins with hails celestial, delaying 30 , citing an accounting review, reporting it does not expect to reach its anticipated sales in profit levels. Cramers off but hes going to call in on this one. Its also a huge week for retail. In the spotlight, home depot, we dig into the company and the positive out like. Well take a look at where we may go from here. Hails celestial announces it will delay its Earnings Report due to accounting issues. And simon is on mad money back in may when, he talked about hiring outside counsel, take a listen. Our business got a lot more complicated. What i decided to do is call some outside help. A little unlike to you do that. People thought maybe he need some help personally or whatever. All right. And with that i brought in some outside help and to come back and look at hain all of these Big Companies hire 0based budgeting. So what i decided to do was take a look, how do we get to 5 billion. Our own jim cramer joins us on the phone. Good to talk to you, first of all, thank you. Good to talk to you. Good to have you back from rio, carl. We cant wait to all be here at the same time. Walk us through this. The words ing timing of revenues, associated with contributors. That means that you had to get goods you had off to somebody else because you had too much inventory. Some people call this and i dont know in this particular channel stuffing, mean you get the stuff off your books and can show sales that maybe shouldnt be recorded at sales. It tends to mean that youre not doing as well as people think and of course also, dodged with the fact they basically announced a worse than expected quarter. The stock is off 26 here in the premarket. The analyst downgrades are piling up this morning. What would you tell investor to do before today a stock that had risen 30 or so, in hopes of a deal like wait wave . I think people thought its going to go back to what it was. You think that makes sense. You dont know what its going to earn. I would say one thing thats important, this is very high quality. You have Goldman Sachs covering research, and ray kelly, from law enforcement, and a very good attorney, long time. You look at the whole time, andrew hire, the Committee Chair for audit, hes a very, very strong Audit Committee there, and on the executive committee, board of trustees of the University University university of pennsylvania. Theyre going to get to the bottom of this. Its very dangerous because you know this is a group thats been under a lot of pressure. White wave wanted to get out before the price cutting began. Jim, you can go back a decade and find people sniping at hain saying it was just a rollup, raising questions about the quality of the accounting. The companys done very well since then. It remains a little bit of a crowded short. How do you get your hands around what the core earning power of the company and the quality of the brands right now . Thats a really great question, about why i say mid30s, because without a takeover, what youre suddenly wondering, its time to realize you cant own the healthcare brand in every single aisle. And youre right, there was some organic growth that kept it there, but this makes me question how much organic growth was there ive had irwin on. Its been a huge win for mad money and a huge win again. You heard what he said when he was on the show, bringing the outside help. Maybe outside help showed that perhaps the way he handled target, or whole foods, or the way he handles distributors isnt right. So get to the bottom of this. The board is a nononsense board, theres going to be no free pass, but the stock will go back to where it was on its own earning tower, when white wave was in the mid30s. And kiellog or campbells, now were certainly worried about where the sales are. Jim were going to try to take the temperature of the analyst later on today theyre all panicking, bob. Theyre panicking and i dont blame them. Its too expensive. My question is, weve got a couple that cut it to neutral, but bernstein suspension coverage, can any analyst have a cut right now . Its impossible. You dont know what theyre really saying, the demand is dried up, you dont know whether someone else has taken amazon has come in and done some sort of deal where everybody else has just got too much inventory because amazon comes underneath, or tree house, which is set aggressively on mad money. They will private label for walmart. You have so many different pressures, you just dont know at what point did hain have to do something, or at least not certainly of its too much inventory. I back irwin. I think hes done a good job, but accounting regularities tell me you cant own the stock not until this thing is sorted out, but that board will set it out, and if erwin did something bad that board will not stand for it. Theyre too independent, theyre too tough. Jim, enjoy camp. Hurry back, okay . Ive gotta go can my tomatoes. Its great to talk to you. Organic of course. All right. On a day we got hd earnings. Jim, thanks, jim cramer on the phone. Meanwhile, home depot reporting. Courtney reagan going to break all that down for us. Its a rare day to see an in line quarter for home depot. Earnings match consensus exactly, 1. 97 on in line revenues. Comp sales solidly positive, that trend continues 5. 4 up in the u. S. , but as analysts expected, in that full year guidan guidance, its a raise to six dolla 6. 21, so home depot, before the bell, very flat here, very different from the stock pop we see on a home depot earnings morning. There could be further commentary thatll continue to move this stock so well watch that going forward. However, a much smaller Dicks Sporting Goods retailer beat the street by 13 cents on better than expected revenues. Comparable sales up almost 3 when both the retailer and the street expected negative samestore sales. The guidance range, nicely above analyst estimates. Golf galaxy remains a weak point. Golf industry is down, and Dicks Sporting Goods owns. Dmo capitalist, wayne hood tells investors, the liquidation from sports authority, is clearing faster than the market accepted and is further helping Dicks Sporting Goods and ed stack is focused on displaced market share going forward. Off price remains a growing sector, tjx, thats ross. Tjx beating on earnings, a slight beat on revenues, comp sales up 4 , betters estimates. The retailer did raise its full year guidance but that is below analysts numbers, and off to a solid start in shares there are a little bit higher this morning in premarket trade. The retail round up, courtney reagan, thank you very much. And stock futures are lower coming off the record closes, another trifect a record closing yesterday, and that is the chart of the morning. That is the dollar yen, earlier trading just whether the 100 level, its a stronger yen and weve got a bunch of data this morning. Housing starts coming in stronger, permits weaker and of course Industrial Production coming later this hour. Joining us now on the markets and the data a gina martin adams, head of strategies, and post nine, s p 500 dow jones indices, lets start with the dollar yen. When you see strength like that breaking a key level is that a warning sign for overall markets . The yen and dollar havent been particularly relevant over the recent period. It was a warning sign in the spring maybe we were getting topheavy, the yen had soared so much, what the market was perceiving Monetary Policy to be doing. Im not as worried about that now as i am the volatility in the commodity complex. Weve seen oil prices short of shoot lower and bounce back really quickly and the commodity complex is trading on a lot of volatility. I couldnt focus on commodities. Is that what weve seen a big reason behind the ral me . Part of it. Oil prices fell in the last week or so. It certainly is part of it. Energy stocks did pretty well with the rally in oil prices. I mean, we cant detach oil and stocks. I mean, i think one of the risks to the market right now is over the last few months we got really comfortable with oil prices have bottomed and theyre going to rally and we cant completely detach. Weve got to be careful in picking our spots in the commodity area. Howard, one of the big stories i think in the markets is just exactly how gentle this rise has been in the s p 500 to another index, as well. What does this tell you, this lack of volatility, with a slight upward bias right now . Definitely an upward bias. Even for august this is a slowmotion market but it is slanting up. It does indicate when we do get back to september and we not to mention the october earnings, were going to need something substantial to support the levels, especially those multiples. They are high historically. Q2 earnings helped but not that much. Theres going to be a lot riding when we get back to business in september. Howard, how are the estimates for this quarter, q3, and next quarter, and do you expect them to come down for Revenue Growth and Earnings Growth . Q2 did its job so thats good want. It was better than q1, otherwise we would have been going down a lot quicker. Q3, and 4, most of them show basically were going to beat our record. Do a lot of people believe its going to be a record . No we need to show support were continuing to go up. Sales did tick up this quarter, which was nice. Margin still remain decent, about 9. 1 , only because energy was still negative six quarters in a row. Thats an area everyone expected to turn positive as far as the earnings go. It didnt. Going forward, the projections are for positive numbers. It is still expected to be a big growth area and healthcare of course, as well. Gina, weve seen reports today looking at short interests as a percentage of market cap, is it three year lows, fund manager survey at b of a, cash balances have come down. Yeah. Allocation to u. S. Equitieeq highest since 15. Is the chase on here or not . I think a lot of constitutional buyers are getting dragged into the market sort of kicking and screaming notably, but theyre getting dragged in. One completely missing component of this picture is the Retail Investor. So youre not sensing theres an extraordinary level of optimism. Investor sentiment is fairly moderate because the investor is sitting out. Net negative equity markets exceed net negative inflows for all of 2015. So we really took a dive and we havent seen that Retail Investor put that money back to work. Thats probably where you need to see that umph to drive to you record high levels. And youre at 2,200 . Weve got a fair estimate value of 2,200 and were getting close to there. Gina martin adams, thank you. My pleasure. And howard silverblack joining us. Highlights from a busy day in rio, not so good for the u. S. One of the crazyist race finishes you will probably see. Andrew ross will join us live. Take another look at the premarket. A lot to get to as squawk on the street continues from post 9 in a moment. Breaking Economic Data right now, lets go to Rick Santelli in chicago with Industrial Production. Rick, how does it look . Yes, the yell reajuly read. Weve had exceptional data. Up 0. 7 on the protection number. Last month we did lose 0. 4, and 75 onute station, thats the best going back to october of 2015 and that 0. 7, the best month over month of november of 2014, so even though were not going back precrisis, these are good numbers considering how many believe some of these areas of manufacturing of course were moving into recessionary numbers. Yields continue to tick up a bit, but ticking up is back into the mid150s for a tenyear note yield. Rick santelli, good to have you back. Meanwhile, a crazy finish at the womens 100 meter. And having already demonstrated his tabletennis skills, hey, andrew. Reporter well show you that in just a second. For the first time in the olympics, the u. S. Did not win a medal, but the u. S. Team did reach the medal stand. Sam kendricks receiving bronze, and allyson felix, barely missed the medal, and in the womens 400 meter race, quite extraordinary, and then theres simone biles, taking home bronze on the balance beam. She had a little slip that kept her from gold, while Lori Hernandez placed second. Simones going to continue her quest for gold today on the floor exercise. And then later today, we should tell you the semifinals in Beach Volleyball where the u. S. Women are going to take on brazil. Its going to be a crowded event this afternoon and in mens basketball tonight, team usa is going to be facing off against argentina in the quarterfinals. And then later in the hour, guys, im going to show you where some athletes and their families go for a little rest, relaxation, and a few drinks, thats whats coming up here on squawk on the street. Guys . Back to you. Andrew, well look forward to that. Thank you for the update. Was crazy to watch simone biles almost slip. And when we come back, well county down to the opening bell. Have a look at u. S. Equity futures coming off those record closes. A minor selloff in dow futures down 5, and nasdaq down 9. More squawk on the street, straight from the nyse straight ahead. Across new york state, from long island to buffalo, from rochester to the hudson valley, from albany to utica, Creative Business incentives, infrastructure investment, university partnerships, and the lowest taxes in decades are creating a stronger economy and the right environment in new york state for business to thrive. Let us help grow your companys tomorrow today at business. Ny. Gov [text message alert rings] [texting keystrokes] just about eight minutes until the opening bell on this tuesday. Let get to ash carbon, director of operations at post nine, welcome, art. Good morning. We havent touched on this dudley, bullard, williams back and forth about where the Interest Rate in and how primed we are for a rate hike. What are you thinking . Im thinking it demonstrates very clearly how confused they are and these are the people making the decision. Many people found the comments by williams of the San Francisco fed a little bit dressinistresd saying they may have to tolerate, as much as you said, helping push the dollar down. The dollar is down against virtually every currency, and i think thats got some confusion reigning here. I am intrigued to see that Oil Continues to maintain a decent bid. That should help stocks a little bit. I dont believe for a minute theyre going to get the kind of opec cooperation theyre talking about. I think the saudis have made a decision. They see electric cars coming, they see solar power coming. Its not worth anything while its in the ground. Theyve got to get it out and theyve got to sell it regardless of what price, and i think they may make cooing noises all over the place but theyre not going to cut back very much. One ritort is its ringing shorts. How long will that last . Its a repeated fact. Weve done it again, and again, and again. Well have to wait until that kind of slows down. Yesterday, i suggested that there was a resistance band that 2191 to 2194 into the s p, we churned and rallied through that ban through virtually the whole day by informal trader folklore. It becomes 2195. Well see if any rally takes us up there. How do you read the dash to records on low volume . Is that a sign of conviction . Is that a concern . Well, its very rare to make new hires in august, to begin with, and when youve done that in an election year, whoever won took 30 or more states. So thatll lead to the idea that however this comes out, it might be a landslide. The general wisdom is that trump still has until the debate to right the ship if he can come across as credible in the debates and move from there, everybody expects some kind of email leak in october, so games not over yet but its interesting to say that new hires in august have presaged pretty much a landslide by some. Other a, thank you. Opening bell is five minutes away. Youre here to buy a car. What would h weand sustainability goals asool one of our top priorities. Mental i definitely rely on pg e to be an energy advisor. Anything from rebates, to how can we be more efficient . Pg e has a number of programs, to help schools save on energy. When i see a program that fits them, then i bring it to them. With the help of pg e weve been able to save a tremendous amount of energy and a tremendous amount of money. Were able to take those savings and invest it right back into the classroom. Together, were building a better california. An ordinary experience into an extraordinary one. Get great offers at the lexus golden opportunity sales event. Lease the 2016 es 350 for 329 a month for 36 months and well make your first months payment. See your lexus dealer. Youre watching cnbcs squawk on the street live from the Financial Capital of the world, opening bell in just under two minutes. A lot to get to. Weve talked about some of this fed dollar controversy. My favorite stat is on home depot, hoeme depot has gapped down on earnings four times in seven years. It does not happen very much. Usually we get a bounce out of hd on earnings. Today it looks like it might be a little bit more mild, as revenues meet, but they raise just shy of consensus. You might finally have had everybody in on that story essentially, not just a great sector but great operator, also home depot, a massive buyer of its own shares. Over the last several years it has tremendously soaked up shares so it has the Financial Engineering piece, but great comp stores. Theres been so many reasons to own it and when you get an ontarget, new increment reason to buy more. What are they buying at home depot . It confuses me but i go back to what the ceo of macys said last week during the macys recor report. He said theyre spending on apparel, and we also got the cpi, after flat months of improvement. Its not an economy on fire and that was mostly due to gasoline, also lower grocery prices which is a theme weve been talking about. Higher prices at restaurants, lower prices in the grocery store. People eating at home. Really, the out lijlier is health expenses. Core cpi, 2. 2 yearoveryear. Theres the opening bell and a look at the s p in the bottom of your screen. Its colgate, and the United States bank, head qu