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tv   Fast Money Halftime Report  CNBC  June 2, 2016 12:00pm-1:01pm EDT

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more video and add to the empire. >> on a day when bernstein comes out to say that prime video is the number two reason that people are prime members at all, and hard to say that a few years ago. good time. >> great. >> and we will see you all in new york later next week, and this is is going to do it for kwauk alley and back to the head quarters and the half. ♪ all right. "welcome to the halftime report" and i'm scott wapner, and we go back to code red for apple. a superstar drops a bombshell wondering if the company's best days are behind us. with us for the hour, joe terranova, and stephen weiss and jon and pete najarian, and off with the former banking star mary meeker telling the code conference that the iphone has peek and the ios is quickly losing the market share to android, and amazon is where the
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future is going, and goldman taking down the numbers today, and all raises the new questions for the investors to consider, and steve weiss, you considered it and shorted apple this morning? >> yes, the second time short this week, and there is a story ta broke from nike saying that it is going from the two-year cycle refresh to threef-year, and that is news that they are running out of technology, and innovation, so, that is why i did that. i went back today, because the analysts typically seem to follow the herd, and not all of them, but some. goldman is cutting the number, and mary meeker who used to be a real, real force in the business on the sell side that is, and she is in private equity or venture, and goldman, and so analysts will now look at their numbers and come out and do the same thing, and cut estimates, and so it is purely a momentum trade from the longer term holding standpoint and going out a year or two, it is a hold, but it is nothing that i am excited about right now. >> and doc, you are on the other side of this? >> yes, i don't believe there is anything new in the things that
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steven is talk about as the thr three-year refresh is different story than mary meeker is addressing. again, respect to her, but however, i don't think that anything that she mentions in the note, scott, is new. it is overall, what we are looking at with apple is do we believe that apple is the next twitter? in other words, do they screw up and not get instagram? because that is one of the things that we all thought that twitter should have gone after, and of course, facebook got it instead. i think that with what echo is for amazon, that is siri, and how apple has not been basically able to take something other than, you know, the $700 phons s and turn them into -- >> and mary meeker's forecast is much more dire for the long -tem outlook for apple in that, i mean, the basic premise is that other companies out there are innovating with just much more exciting things that are going to be dominating the future whether it is a/i, vr, virtual
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reality. >> well, apple is a pure follower, and they always were, and now it is cast in stone, they are a follower. they are a follower in the karsh and we don't know where it is going to be and so is the phone. samsung is much more technology rich. >> and siri on this is basically what ekcecho. >> it is terrible. >> i think it is great. >> you use it more clearly than i do, but i had problems yesterday. >> and they have a device that is in the $# 00 or the $150 and echo around $180 or thereabouts and they need to be in the space. that is what they will do next, scott. i also think that they will exploit some of the connectivity issues with the cars, and that is also going to be playing into siri, the same way that echo is doing with ford right now. >> and you have elon musk talking out at the code conference as well about the pros spects of a car saying that even though they may be late, they are likely going to have one. and we will listen to musk, and react to that on the other side. this is e lon mlon musk are fro.
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>> and it is going to be successful, but the car is very, very big. it is not as if one company to the exclusion of the others. i mean, it is like a dozen car companies in the world of significance. the most that any company has is probably 10% market share. >> is this the answer? part of the answer? >> it is part of the answer, and the other thing that everybody is talking about the smartphones and the ideas that they see that we have reached a peak level and have we really reach ed it? if so, why is tim cook in india and the asian markets, and that is seeming to me to be an area sha going to be continuing the grow in the market as it rolls out. >> but looking at the goldman note, they say key risk the significant new risk is the demand environment in china which is the very place that you
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are saying to the bank on. >> well, not the bank on, but addressable market. when you are look at the addressable market of china and india, and if they can get a piece of it. >> and if the iphone is going to grow, the place to do it is there, and where ta r and they say maybe not. >> and well, maybe, if you are look into it, and see that there is 1.3 in china and 1.1 billion in india, that is a lot, scott. looking at where we are now, and looking at the suggestions of the peak now, we have not reached the peak smartphones yet, and apple is going to be getting a piece of that down the road. >> that is the carl icahn piece, a slowdown in china, and i will do what you don't want me to do which is to agree with steve, and agree with everything that jon said, because in the near term, there is the potential is that is cyclically apple ran the course, and whether you want to call it the berkshire investment or whatever it is, and ran up to 100, and the potential to pull back, but to pete's point to
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what jon is talking about a company longer term, and one thing that steven said that yes, it is following others, but it is following others in the capacity that it is noticing the failures and then recreates what others have attempted in a much better capacity. looking forward for the company over the next three years, they have proven that the growth will reaccelerate via new product, and the user res main, and the retention of apple users is over 90%, which is the most compelling argument longer term why the story works. they will be in the cars in some way, and i'm long on the x pishgs -- xpi, because i believe it will accelerate apple's growth going forward, and the iphone 7 may not be the game-changer, but maybe the iphone 8 is, and you mentioned virtual reality and the facial recognition, and things that apple are going to be putting in the phones for the next couple of years that are going to be accelerating the growth, maybe
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not now, but the future is. >> and the next guest started to raise concerns about apple more than a year ago, and ian winer is the head of the web bush security, and ian live in los angeles, welcome back. >> thank you, scott. >> what do you make of the goldman note, and the analysts have been taking the analysts down, but more broad ly the mar meeker dire prediction she makes? >> well, she is spot-on, and what is most interesting as we listen to panel discuss what the bull cases are, and as you can see, they are all over the place, and keep changing. it was an innovative company a long time ago and they had an edge on everything, and then all of the sudden, maybe a three-year cycle and shift and say, well, they have a big total addressable market in china and india, and what is the average salary of a peb person in chi and india? well, they are not buying $800 phones, and the 8 and the car, and market creative or delieutive, and what is
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happening to tesla before the apple car is ready? so you have a sign of desperation that i have seen in the analysts, and it is something to have 85% with buys and average target of 130, and nobody want tosca pitch lat-- w s to capitulate, and nobody wants to perhaps buy, but if it is a hold, that is okay, but the fact that you have guys with $180 price targets reflects that there are a lot of guys that are out there that would rather be right than make money. >> and the bulls back here, and that is dr. j and what about this that ian is saying that the goalposts are moved all over the place to continue the story, because they refuse to capitulate, and are you one of them? >> i refuse to capitulate, because i look at echo with amazon and that device that says, what's the weather, and what is the sports score last night, and buy it directly at amazon, i don't know why apple
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does not have the same device on the tabletop for people almost immediately are. now, mr. wyein erweinor is goin right, if they don't get on board and do it. siri is capable, and we thought at ces this year, but it was not, and instead, judge, it is echo here on the screen, and this is an tremendous opportunity for them, and given the install base, and the people using the itunes and the other store stores. >> and you are defining apple's future defined by another product by another company that is taking the lead. >> but they have not sold -- take a look at the total shipments that they have done -- >> from echo. >> right, a million. and a company that does 70 million handsets when they come out with the new handset. >> and back into the conversation, ian. what maches the sort of the bear case of obsolete? are some people just too n
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negative on apple? the fact of the matter is that we don't know what they are working on, and they could blow us all out of the water with the innovation that we want, and the facts are that we don't know what they are up to. >> no, i mean, there room for them to potentially innovate, but right now, there is competition so intense and the demand environment is so shaky, i don't see a scenario where you want to own the stock, and get three analysts on who downgraded the stock, and find out where the sentiment is, and as far as echo, it is like, whatever. i don't see a sfar owe where it is a game-changer for apple. >> you tont like the idea of given how many people still do buy music and not just stream it, but all of the other things that that buy through apple, you don't think that having the device instead of the $700phone on the desktop is a game-changer for apple? >> i don't know, i think they have applepay and remember the services thesis, and isn't that the reason that goldman is positive on it, and where is apple pay and appling google,
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a -- apple google, and there is no growth. >> and small part now, but can it become a bigger part of the business overtime? >> and is there a reason to buy ibm? no longer to be, and to joe's point, can they innovate better? no. they have not picked up the functionality of the watch that fitbit has, and they have lost money, and lost the first mover advantage on the streaming with itunes and now it is not coming to the conversations, and talking about netflix and amazon about streaming and not itunes, and for the car, let them be a car manufacturer, and go back to the discussion that gm is selling at five times the earnings and half of the multiple. >> ian, the last word. ian, you have a cheap stock by all estimation, and maybe not yours, but it is a company that is increasing the buyback that has a dividend that is likely to be increase and the new products
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in the pipeline somewhere. respond to that as your last wo word. >> stay short. you will see $85 before the year end. >> all right. short and sweet. ian, thank you for joining us. ian winer with webbush joining us with the sort of the unwavering apple bear. >> and one thing that i am curious about and i know that i did not ask ian but i would have gone along in the segment, but what should they to with the money and the cash? >> you are asking me? >> and now, you are saying, are they curious the go after in my opinion still a netflix, and they should have gone after other parts of the marketplace that i think that could have folded right into the apple ecosystem nicely, and they have not done it, and they have not made any huge acquisitions by any stretch, and sure, it is the beats isn't that the largest acquisition? >> yes. >> and you want them to make a big ak cquisition? >> well, if ian is right, that
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is what they need to shake up the catalyst. >> they need to be the shakers and innovators and we have seen this movie before, with xerox, and polaroid and blackberry and all untouchable, right. the leaders in technology, and where are they now? >> if ian is right, he is saying that apple is going to be the biggest and the largest value trap in the history of the equities market, and that is what he is saying in essence with a tremendous amount of capital on the balance sheet. >> i am glad this you reminded me, because i feel crazy asking this, and people are going to be killing me on twitter, if apple is a value trap. whether the overall stock is a value trap? it is wone for the ages, if it is, and it is going to be changing the model of the way go going forward of companies look at the allocation of to pete's point, to hording the cash or deploying the cash when they can't get the growth organically, you need to pursue it and buy it. >> yes, and the stock certainly
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has been on the rebound. and now, the halftime report coming up -- >> $14 billion of oil advantage, a and he called the bottom, and his fund is beating 93% of the peers. rob will give you his top plays in the space right now. and plus, ebay is hoping that artificial intelligence is big part of the future, and we will speak to the ceo exclusively about the plans and whether it can help the struggling stock. and with 1 billion followers on line, the nba is a social giant. a look at how the tech visionaries are hoping to make it the world's biggest sports league. that and more ahead on the "halftime report."
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all right. ba back on the "halftime report" and crude, no deal. that is the headline from the opec meeting in vienna, and crude has been a little bit all over the place in the early session. brian sullivan is on ground live in vienna with a recap of the meeting. brian? >> hey, scott. thank you very much. coming out of the meeting, the ministers were like, hey, what are you talk about a deal? we weret not looking for a deal. and before the meeting began, a couple of the countries told us directly, vends way -- venezueld angola and proposal s s to cap total protection of all of the opec members or buy country which is what venezuela was
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proposting and the ministers can say what they want, but we talked to other ministers this morning who said literally to our face s ths that we are look for the output deal, ab as you noted they failed to get one, and one of the reasons and after the meeting after everybody was leaving the new saudi minister, and this is the first meeting after the 25-year run of the predecessor said that they felt that the market was imbalance and recovered a little bit and that is why they didn't need to press for the deal. maybe happy talk, but of course, in doha which is not a opec meeting, but semi-opec meeting the conflict was between saudi arabia and iran. and saudi arabia basically saying that we won't do anything unless iran also agrees to do something, so you felt that there might be some tension there. and coming out of the meeting afterwards the iranian oil minister who hardly ever talks at all came up to our camera, and when i asked him, basically, the mood of the meeting and did you have conflict, and this is what he told us. >> we had a very good meeting
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today, and i believe that in this time it was a very good unity between opec members and i didn't receive any resistance between the opec-member countries the do something against each other or to destabilize the market. >> so you are getting a loft the happy talk, and i will say un y unity, and we are all came together, and well, they did not make a deal, but one thing they were able to do which doesn't sound like a big deal, but they have not been able to do for the last couple of years which is to name a new opec s secretary-general which is going to be mr. barkendo. >> i wonder if the new saudi minister helped to move the market a little bit and the oil positive with these comments and
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i'd love for you to react it to, we are extremely happy, and the market is in good shape h, and the market is balancing and the trends are good in terms of the supply and demand, and the supply is recovering, and i believe they will continue to recover and this is veseen as significant from those talking to here at cnbc. >> yes, scott. limited time in the hits that i do, but he said that, and a number of the other representatives said, that and we talked to the uae represe representative, and he said, that and coming up on "power lunch" we have a sound bite from the nigerian oil minister who admitted that, yeah, the fact that the u.s., and non-opec, u.s. production has come down gave opec leeway to not necessarily have to do something, and the market coming into balance like you referenced from the saudi has a lot to do with the fact that u.s. production is down 9 million barrels a day, and in other words, the u.s. shale industry
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slowing down for now has done opec a big favor. >> yes. brian sullivan, thank you so much, and we will see you in the next hour of course on power lunch. >> and how should the investos s be prositioning themselves in the sector, and joining us the fund manager at tortoise capital, and he correctly called for the bottom in oil back in february, one week before the rebound began. and welcome, because and good to see you, rob. >> thanks, scott. >> what are you making what happened out there, and the reference of the comments by the saudi minister and the suggestion being that if it is all niemi, and we are still trying to get our arms around this new gentleman and the influence on the global market. >> as far as the opec meeting was concerned, boring outcome, and nothing unexpected came out of the meet iing. the oil prices are going up, because it is interesting today, because the oil inventories came out, and the u.s. production has fallen for the 12th consecutive week which took the oil prices
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from, decline, and really reversed them and now up for the day, and this is the reason why the oil prices are improving. opec is less relevant, and the zus more relevant, and that is present as you can see how oil is trieding today. >> and cutting to the chase, if we, you agree that oil is going to continue to increase in its price, and if so, how do you invest in that environment? >> well, sure. long-term, absolutely, the oil price has to be higher and it is inevitable, and we need $60 oil for the u.s. production to fall, but over the short term, we will range bound plus or minus $5 at $50 a barrel, and good inves investments in that environment are energy infrastructure companies providing nice healthy dividend yields for the investors ash and you will win in two of three scenarios. if the oil stays flat, fine, nice 5% to 6% income, and snow coe logistics is two of the
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largest holdings for tortoise infrastructure. >> and i want to make shure tha you know that sunoco synergistics and that is ssl and you are seeing on the screen the companies that rob likes. >> i don't believe that you trade the crude oil future, and are you believing, rob, that we are looking at the oil and going to $50 and dodged the bullet in the high yield energy with the e d faults, and take the spot t.i. price off of the screen and worry about the industry and worry about the companies that can grow the production, and build infrastructure, and have a sole focus on whether it is mlbs or the energy equities, and oil is the recovery and not $25 or $30 anymore, and what companies can survive and grow? >> well, it is a good point, joe. shale oil is here to the stay we think, but not all of the shale oil companies are here to stay. that is how you have to
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differentiate it. so the companies that we like from the oil and the gas prod e producer is pioneer, and eog resource, and we like them, because they have the first mover advantages and the early adopters and identified the shale potential early, early on, and acquired massive land masses of acreage in west texas and south texas and now they can produce it cheaply, and even in the low-price environment, and the companies that are not as successful and having troubles are the xans who are acquiring acreage for tens of thousands of dollars and used the low-cost debt, and those company aring having a real challenge and some of them are going bankrupt. >> rob, i appreciate the time, and rob thumbmel, thank you very much, and are you playing this space? >> well, i am going to the plains, and they are going to collapse the structure, and the yield is 11.5 or 11.34 and that going to be cut that distribution, but i believe it is a quality buy.
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and we got out of the big opportunistic mlps that we got into january and february and now some are overvalued and shale and logistics are with the 50 bips over the year, but the typical spread for over the bips right now, so i like alerian. and also, we will hear from the ceo of is a rep -- ceo of
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united next. thank you.
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all right. time for the blitz, four trades on four stocks making news. sarepta, and we are watching it again, down 28%. and jeffreys with the negative note talking about the approval for that company's new drug, and why should you own the stock? >> i do, i do, and it is a painful day. look, nothing changed. they came out with the regulatory expert, and the opinion leader kol, that said it is a slim chance to passes, and
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it is the odds that have not changed, and it is one more opinion. there is a time line for the fda to come out. >> dropbox? >> well, they lost more than they were expected, and revenue beat, and credit suisse knocking them down, but the shares are down 9% today and plummeting down to 11 and that is a big ugly drop for box today. >> and joy global? >> up 11% today, and the orders are not good when i see it, and i am not seeing the recovery as others are reflect nod the stock price, and to me, it is nothing but short cover. >> and united airlines are announcing new initiatives to turn the around the airline, and our phil lebeau spoke to the company's ceo oscar munoz earlier. >> we set out to completely
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reinvent the business clas experien experience, and develop the product based on the needs of the customer and reengineer the human quality that we are striving for. >> pete, bullish? >> yes, and this is by far the worst of the three acquisition mergers and one thing that they are doing is the addressable market in terms of where are they having success flying and not, and they are cutting back on the ones that are not successful routes for them internationally and north america and attacking and going after the business traveler to the add the flights going in and out of china and great move. it has taben a long time, and maybe it is going to final ly move the immediatele. >> and come up, we go to the west coast with a exclusive sit down with the ebay ceo when we
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come back. they found out who's been hacking into our network.
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who? guess. i don't know, some kids in a basement? you watch too many movies. who?
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a small business in china. a business? they work nine to five. they take lunch hours. like a job? like a job. we tracked them. how did we do that? we have some new guys defending our network. new guys? well, they're not that new. they've been defending things for a long time. [ digital typewriting ] it's not just security. it's defense. bae systems. welcome back to the
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"halftime report." sue with the latest headlines. >> hello, scott. a lot going on this hour. the los angeles police chief says that the man who carried tout murder-suicide at ucla yesterday left a kill list at the minnesota home. a woman on the list has now been found dead. mainak sarkar drove to ucla and killed the professor and himself, and others on the list are okay. a test shows that prince died of an opioid overdose. he was found dead in his minneapolis home on april 21st and he was 57 years old. >> the israeli government says that a woman tried to stab a iz ray areally soldier at a checkpoint, and the incident is the latest over attacks in the past few months.
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and now, heading to an bar province after fleeing fallujah, and most of the displaced families were women and children and more than 50,000 people are still believed to be in the city. that is the cnbc news update this hour, and lot happening here this hour, scott. >> yes, sue. thank you. and the retallers are feeling the squeeze with the online retail is squeezing the market. and so we go out to code conference with jon for who is joined by the ebay ceo. jon? >> thank you, scott. i'm joined by devin wenig who is the ceo of ebay and thank you for being with us. you were on stage in there and talk about competition with amazon among other thing, and you said something to the effect of that you'd rather have a million unique items that arrive in three days than a lot of
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commodity items that arrive in an hour. some people might argue with you on that, and you know, if i want to get toilet paper from amazon, and i am willing to pay them so that they make a profit on it, what is the matter of that, and if you could get into the business, why wouldn't you? >> well, i remember that you sat with me ten month ago the first day of ceo of ebay and i said that my entire philosophy is to be less like the competitors and not more like them. the there is nothing wrong with the fast shipping, but 17% of the commerce market is defined by t it. i know that the brand stands for the unique item, and the incredible deal. and the essence of the ebay brand is to hel hping every consumer find their version of perfect. for many people that version of perfect is a unique item they don't need in an hour, and for me that is what is making ebay sharply different and sharply defined brand and different
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product experience. that is how we will win in the world of commerce that is doing to be very competitive. >> and the investors of course are worried about the growth. as you are filling out the growth story, what is the scenario of the must-have item that ebay is going to be consistently win and you can tell that story rnd? >> well, put it this way, we sell plus or minus roughly $90 billion of goods every year. so it is not a future story. today, 162 million people rely on the ebay everyday. >> and you are huge, and tom score says behind amazon in mobile, and when we are talking about the growth here. >> and this is the use case. and the use case is that as the online and the offline market come together which is happening rapidly, people shop differently. they may need that paper towel in an hour and they not shop ebay for that, and they may need a unique item or last year's version of an iphone which they
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are buying for their son, because he is going to be losing it in a year, and for me, that is ebay and that is not defined by rapid logistics, but the product experience and the unique inventory, and for me in my first year, all of the effort is going into building the sustainable motes around the business so that the ebay brand is stronger then than it is now. >> and so what is that? crafted and made in small batches and investors want to wrap their heads around what level of uniqueness you are going to be winning? >> that is what you call the head to the tail. so the unique item could be the best breadth of mobile phones in the market, and it is not a rare or unique item, but maybe it is a manufacturer's refurb or the last year's model or two year ago or a version that was used at a an incredible deal, and for
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millions of people in the world thashs is what they want and take ut down to the tail to truly unique item like antique vase. a collectible of one in the world and million of those on ebay. that spectrum of value, and breadth and that is the catalog that we are about and why we have 162 million customers in a world that is so competitive. >> one themes that i hear about as i chat in the hallways here at code is that the number ones, the bigs are getting bigger and taking more share, and loft othem these days are talk tab artificial intelligence. from where you sit, do you think that you can be a leader in artificial intelligence around commerce or amazon with all of the data centers or the cloud, or are they the destined in a way to be bigger or better than you as applied to retail? >> i absolutely think that we can be a leader in artificial intelligence, and it is future
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importance to the commerce is significance and the reason for that is that horizontal use cases of a/i are far away, the fact that you will talk to something and do anything for you will eventually be there, but it is very far away. it is the vertical use cases that are going to to be winning early on, and commerce is a great vertical case. what makes commerce go in a/i is the data. and we have as good or if not better than data, because we have purchase and intent day and the actual data, and we have been working on for it a while, and we have a significant team that is beginning to apply i sophisticated algorithms and sophisticated computing power to express consumer intent. and what a/i means in commerce is complicated but simple output. and the output is can i give the consumer what they want every time. >> and how much can you partner
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up, because when you are talking about the vertical use, you are sounding like genie -- ginni rometty, and they would not mind h helping you with uses of amazon? >> well, we would love the help. i would distinguish the cu customers needing data and don't think that we need that, because we can do it by ourself, and distribution, and what i would like to see ebay become three to four years from now, and is that there is an ebay destination, whether it is the site or the app, but a fabric ta lives beyond ebay that it will find you where you are, and maybe in a social network or messaging application or living in other digital content, but as long as you show intent, i want ebay to come to you and not you come to it, and that is a big area that ebay commerce can take. >> and you have growth in mobile, and very much in the fight as an independent company,
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and devin wenig from ebay. thank you so much for joining us. >> jon fortt, thank you so much, and devin as well. and the brothers najarians are looking for moves in the options market to help you make some money. we are will look at what they found straight ahead. and tomorrow, what the jobs report could mean for the gold trade. a debate on where it is headed next on the halftime report. >> the halftime report with scott wapner is the place for market-moving interviews. >> you don't call the company a sewer because they made a mistake. >> real money. >> we are short tesla and solarcity. >> and real money. >> is it not business that hurt business, but it is the technology that hurt businesses. >> and this is going down as the most profitable cti. >> i always get to tweet about the show, but now i'm on the show! this is the greatest moment of
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my life. >> the "halftime report" noon eastern.
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i'm michelle caruso-cabrera and this is what is coming up op "p "power lunch" in 15 minutes. we have some investment ideas for you out of the world -- literally, he is talking money and mars ahead. >> and brian sullivan is in vienna with the late oefs the fallout of the opec meeting. and why donald trump could have a giant tech problem on his hand. we will kis cuss that and ahead,
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we will go back to you, scott. >> thank you, michelle. and now, ahead of the jobs report tomorrow, jack ku deangelis is there at the nymex. >> yes, that is right, gold is staying low around the 1214 level, and the traders are cautious, because we are not 100% sure what we will get tomorrow. bill, what is the outlook going to be for gold after the jobs report? >> well, we have seen a big septemberment are from the fed from little to no rate hike expeck atations to the 50% rate hike expectations coming in july, and so gold has come off of the high, and the sellers have sold, and the payroll number ist not as cut and dry as you expect, because you have to look to the 200,000 jobs created number, and above there, gold is crushed, but well below 164,000 expectation, then gold could run as much as $50 in the near term. >> and anthony, do you agree?
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>> you no, i agree with some of it, but not all of it, jackie. looking at the 180,000 jobs created adp number, i think a number over. i could not buy gold. i like it in the long term, but over 200,000, gold is slammed down to the 200-day moving average which is 1164, and i would dip it in there but wait until after the fedex. >> and we will talk about gold on the online show and joining us is going to be mark eibel investing outside of the u.s., and also we will discan cuss the fed's next move coming up. back to you. >> thank you. the warriors and the cavs tipping it off tonight, and we will look at how the biggest names in tech are trying to make the nba the biggest sporting league in the world, and what it meanbes for the biggest names in technolo technology. as we are going to break, take a look at the halftime portfolio leaderboard.
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great time for a shiny floor wax, no?
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not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you. even late at night, or on the weekend, if that's what you need. because you have enough to worry about. i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. all right. welcome back. the nba finals tipping off in oakland tonight. perhaps a fitting place given the league's growing influence with the silicon valley set. the head of business product and development at wired magazine wrote a story about how nba ranks like never before and what that means for the league. mark is live from san francisco. welcome to the show. appreciate having you on.
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>> thank you for having me. >> interesting read. i didn't realize that roughly half of nba teams now have controlling influence and interests from folks with backgrounds in either tech or investing. i'm wondering how you think that's influencing how the league is going to grow its business. >> i think it's really changed the orientation of how these ownership groups operate. you see them trying to operate more like technology companies and more like businesses. there was a time where sports fran clizs were sort of a hobby for people who made a lot of money elsewhere. these are people who want to operate them as a great business and really see those returns. >> you say that the nba is thus becoming sort of the most forward thinking of sports leagues. how so? >> they've really worked hard on media. they see a lot of opportunity. there it's the most global of the major team sports that we play in the united states and they've had a ton of success and really leaned into the ideas.
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>> incredible. the league thinks they have one billion followers across the u.s. and chinese social media platforms. i'm wondering how they're trying to leverage that kind of social media following which is pretty aastounding when you look at it compared to the other major sports leagues. >> they really see that's athe huge growth opportunity. the nba auld looked internationally as here's where we're going to go from a big tleeg tle league to a gigantic league. they see being able to do that expansion without having to put teams in places like europe or in china or asia. >> you actually have teams sort of taking the initiative from the leadership that they have and experimenting with some new technologies, maybe of likes of which other sports franchises in other leagues are not. virtual reality is just one pretty interesting example of
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that that i read about in your story. right, the nba did the first live stream of the game in vr earlier this season in the bay area. the owners in the league invested in a lot of the companies. but then you look at mark cuban who came into the league and has invested a ton of money in sports science companies, trying gain a competitive advantage on the court as well. >> mark, i appreciate the read. enjoy the finals. we'll talk to you soon. >> thank you. >> all right. you can read his article in the june issue of "wired magazine." it is available on news stands now. when you think about this, i mean from a tradable standpoint, we talk about companies like twitter all the time. and some of the platforms from a social media standpoint that are better trying to monday ties the business, are you telling me that you have a sports league that has a billion followers throughout all of these various platforms and companies like twitter can't figure out a better way to monetize that?
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>> to me, when i'm sitting at home watching the games, i'm following on twitter. and i'm getting tweets whether they be yours about the washington capitals and the negativity you voice out there but absolutely. think about it now. think about this for a second. the bay area, which you guys are from, the distance between golden state is playing for the championship and where the sparks are playing for the stan by cup is 40 miles. that's all happening at the same time. so you've got golden state playing thursday and saturday. i think it's friday and sunday. you've got it all descending upon that area. >> i'll know more about that. >> right. >> but we'll know more about that. the teams, the league itself, the following globally and the activity that their players engage in on an every day basis. >> yep. and it's all about monetization.
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how about the deal with the nfl? we'll know a lot more as the twitter deal with the nfl comes to fruition. >> all right. coming up, three hours left in the trading day. our experts go. >> narrator: ra-- under the rad. "why are you checking your credit score?"
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"you don't want to live with mom and dad forever, do you?" "boo!" (laughs) "how do i check my credit score?" "credit karma. don't worry, it's free." "credit karma. give yourself some credit." welcome back to "the halftime report." citron research tweeting that they're going to zero and also
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bankrupt. keep in mind, chemours was spun off from dupont last year. the stock is down 11%. it halted though and we'll keep an eye on the stock. it resumed trade, excuse me, now down better than 11% on this report from citron. we reached out to the company, scott, we'll let you know when we hear back. back to you. >> thank you so much. when something unusual happens, the nagarians find it and try to make money on it. you have a bullish move? >> i do. it's a stock that all of us know how negative it's been. macy's. a huge roll and then huge buy of the july upside options of 34 strike options. 13,000 of those trading. today, they're back in there again in the june option. just in the last couple weeks, how the stock itself is started to move to the upside. i know that was an option. but you take a look at the stock. it is over 33. nice move in the stock right now. bullish activity. >> holding period?
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>> i'll be in there for a few weeks. i went out to july. >> doc? >> marriott, judge. mar. the reason here is quite simple. the stock is trading right around $68. somebody come in, buys a whole bunch of 70s. very small on the open interest. it traded over 8,000 of he's and so we jumped right in with them. they went from 65 cents to a buck. and it looks like they may go significantly higher. obviously people betting on upside here. i'll be in two to three weeks. >> joe, what did you find? >> brexit and the presidential election is impact being markets. m & a is down year on year. in europe, it's down 25%. in north america, down 8%. maybe we can unlock the m & a we saw in the last couple of years. >> talking about brexit a lot more. >> quite bate. and the polls have pulled even for the first time. and when we talk to your
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managers, nobody thinks brexit is going to lead. >> and nobody thought donald trump would be the nominee. hello. >> that does it for us. "power lunch" starts now. >> see that fancy building there? big battle breaking out inside at opec. we're live at the cartel's headquarters straight ahead. welcome to "power lunch." brian sullivan is at opec headquarters. brian? >> all right. thank you very much. yeah, the building behind us, maybe a battle, maybe a fight. maybe a discussion, either way, no deal on output limits were struck. in fact mshgs members were not looking for some. we know, however that, certain nations, ven ez wail yashgs we're looking at you and nigeria


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