tv Fast Money Halftime Report CNBC June 7, 2016 12:00pm-1:01pm EDT
higher and the energy stocks are higher and that is what is getting us in the firm places as we grind higher. >> and people are talking about the resistance of where we are? >> yes, a ton of it at the 100 at the s&p 500, and so interesting stuff today, too, when you have gone this long without a new high, it is good ne news. >> yes, a good note. nice to see you as well, and now back to post nine and the half. ♪ all right. guys, thank you so much. welcome to the post nine. i'm scott wapner, and the march to the all-tie highs and are we ready for another breakout? with us for the hour, pete najarian, and stephen weiss, and josh brown and sarat matee. the feds are betting that the
interest rates will not be raised, and isn't this the post janet yellen speech bounce? >> well, i wanted to call it the hillary highs, but prior to anything that janet yellen said yesterday, we have had a rally in important areas of the market, and it is going to bear repeat i repeating. the iwm which is the small cap indices is now up off of the lows 25%. you take a look overt at oil which is what we were worried about this time last year and the whole second time, and the oih is up 49% from the lows, and then you are looking around the world, and the all country world index, which is an index that e encapsulates everything outside of the united states, and they are rally iing. the problem with them last year, they were concentrated with a large stocks with high earnings
growth, but right now, it is the opposite, because there is a boost in the areas that is nothing but bad news in some cases for years. >> you wanted to get a wway, steve, from the bad breath or bad breadth of the market as josh was talking about, and so, is it with june off of the table, that is why we are rallying today? >> no, we saw good numbers particularly out of the hedge funds in may, and you can see the correlations breaking down which means that people are more comfortable, because the fundamentals make sense in the markets, but however, when we talk about reaching a new high, the market was last here in february of 2015. so we have turned 5,000 points on a 2,000-point s&p to be up 1% maybe. and i'm not euphoric, because
the market wants to go higher and some risks, but nothing palpable right now. so financials are cheap, and the tech is cheap, and the biotechs have been working, and so you are seeinging the rotation to other areas, and commodities which were a tell at one point in the vinvestment lifetime, ar reaching up, and that is giving people comfort despite the nu numbers improving. >> and only 18 points away from the new high, and what is the signal for the investors if we break through and start to hit some new milestones? >> well, you have to have and janet yellen talking about the uncertainty, and mentioned 15 times in the speech about it, and we have to be conscious of that, scott, but the utilities and the telecons, and people are going into the high risk areas ap and the you tutilities and t tell conns and something to give
them a yield. i would love to see the finances to answer your question, and show us more. we have seen a little bit more, and the pullback, and the fed is looking like june is going to be off of the table, and most likely off of the table which pushes it maybe to july and then maybe we will see the financials getting steam, but we would love to see the financials participating in the rally. >> and the technical aspect, sarat, and you can see this s significant resistance, and a month out after crossing that acco according to the partners at n kensho, and after hitting this milestone, it is sell signal, and is that different? >> no, the two uncertainties with the brexit, and the elections coming forward, but to et pete's point, the financials that come through, you will see a rotation in the market, and you will be seeing the moneys
coming out of the you tutilitie tell conns flowing into the industrials, and the market will rise coming from the growth there, and not the rotation back and forth. >> and so can the financials rise in a place where there is not growth? >> well, there is a rotation happening everyday. some days health care is weak, and financials are strong, and o other days it is industrials and techs, and that is what you want to see. what we are not looking about here is a runaway move from one sector where everybody is piling into it, and so when we talk about it the improvement, and look, europe is coming along, and japan and the emerging markets, but it is on the sector basis which is driving the markets, scott. bigger pictures, it is laughable that you will have a seven-year bull market, and fourth greatest in history and it is going to be ending because it is brexit. >> no, nobody is going to think it is going to end, but it is one of the bumps. and china falling down, one of
the bumps, and looking at the economic world that we are in, and we saw the jobs number last week, and those are bumps, and nobody thinks that brex sit going to be completely taking the market down, but it is certainly going to have an impa impact. >> yes, you to see the earnings. >> and growth. >> and the valuations are stretched, and so if you have a bump, it is not going to be taking a lot to come down 10% or so, and i don't see the 10% upside, and so the risk and reward is fairly are balanced at this point, a sdwround be careful what you buy. >> we talked about rotation, and that sector is year to date or the defensive ones that josh were talking about and yutilitis up, and not defensive obviously, and 13, because it has come back, and teleconand other cyclicals coming back or the for you. >> and that is good for the banks, and the dep mand is coming back where the banks will make money in lend, and you will see more economic activity
happening which is going to promote more cyclical growth, and something to watch for, and josh, slowly, you could see the market rise, and based on the brexit, but long term, i'm bullish. >> you would not sell if we, say, we get to 2135, that wouldn't be a screaming sell signal or make you more cautious if we are able, and like i said, 2110 is resistance, and if we can get through it. >> and so much of the market is drif ben i the tech trade, and the quantitative trading and that moment is going to be through, and i think it is a head fake, because the economies are not that strong, and tons of excess capacity out there, and aam not rushing into those. and not the market as a whole. >> i agree with steve on, that and maybe the most bearish thing happening right now is that so much of people's attention and focus is on what other people
are going to be doing, and the algos are going to be doing, and the other funds, and what am i going to be investing in. it is not a bullish time, but that is what is consuming people right now, and it is not tehe ed of of the world, scott. >> and we have to talk about the emerging markets, and the eem that chart and the dax having a best day in two weeks. >> yes. it continues here. >> and so much happening. >> and you want to take the puck from here and shoot it there? >> well, if you have been diversified, you are doing that, and it has not been hurting you, because the emerging markets are doing bet ter than the markets year-to-date, which is a huge surprise to people with things that are driving the market year to date. >> and what about the central bank activity, because the eem is ramping up, because the interest rates are not going up. >> right. and then when the dollar is stronger, you will see the
reversal again. >> i would be a seller in the emerging markets because i foresee the dollar getting stro stronger, and the rates are going to go up, and unprecedented amount of capital flows out of europe that is where i would look to go. >> and with the negative rates? rather in europe or the u.s.? >> no, actually the u.s., there is nor opportunity once you get through the brexit, because you $10 trillion and one-third of the sovereigns have negative rates. on the other hand, that is a lot of liquidity. >> it is interesting about places like china, and what the market has been able to steer clear of it, and focusing on the brexit. >> right. >> and pockets of worry within the global marketplace and the investors need to keep their eye on. >> yes, that is the most healthy part, and when everything is looking great and nothing can go
wrong, that is when you need to be attentive. i thought ta value about six months ago, i was worried, but at this point, i am not worried about it. >> and we don't know the broader implications if it goes off? >> well, we could see a slow steady decline in the demand, but if you are going to get a pocket where the demand is up 10 or 15%, then you have a a wall of worry that you can't climb at that point. >> and oil over $50, and goldman yesterday said, look, avoid all of the rate noise, because it is more about the dollar. what is the most significant thing that people need to keep their eyes on now? is it the price of oil or the tell of where the stocks go from here, and more broadly the dollar? the dollar can be stronger, but not stronger quickly.
>> it can be too strong, and too fast with the oil. and a lot of people said, hey, it is looking like it is breaking off, but it has not broken off at all, and oil as it is moving up, and the pullbacks, and the pullbacks are the higher highs and the lower lows and see it over 50, and it is incredible thing, and you look at the xle, and it is holding the technical averages for a long time, and the way that it is trading, scott, and look at exxon, and chevr chevron, and where they were and the conocos of the world, and the acceleration of the world. >> and the thenarrative has chad and now you have the aie for the estimates of cia and brent, and that is $250 a barrel. >> the sky is falling sort of in oil dissipating. >> well, that is great way to lose money in the market, and payt attention to any of the services. >> well, i am saying that it is a narrative. >> well, real optimistic there. >> and that is a josh comment by the way.
>> you stole my line. >> and the news is out. >> and the impetus is that the prices are going to be going up, and the eia, the prices up, and oil is at $50 and can you fully remove the fear around the energy trade? >> you can remove the trade of t the lows of 26 or $27, but if it is going to $40, slow bleed so i am not sure that wouldn't shake up the market. it is okay that the biggest thing to watch is the dollar at that point. >> and exxonmobil year to date high, and explosive movement off of the low, and speaking of the $2 million market cap for the shale producers and so long as oil doesn't have a 20 handle, these names are probably, you don't have to freak out about them. >> are all right. guys, good stuff. and this is what is coming up.
>> winners and losers in biotech. valeant, and sarepta and biogen is on the move. and also, the company is coming to terms with the changing retail landscape with ralph lauren, and should you be b buying the peace? >> and spiritual leader deepak chopra is going to join us next on the "halftime report." to see. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be.
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hi. back on the "halftime report" on the new york stock exchange amount number of pharma and biotech names are on the move. meg thirrel is going to join us. >> we are told that there may be approval by the sarepta, and that is why you are seeing it move. and some bad news. bio jen says that a multiple sclerosis drug that they hoped would repair some of of the damage in multle the cler row s sis, but the study did not meet the primary goal, and the
analysts are saying that the data is complex, and clearly the market is discounting the results. similar story with alexion sa g saying that their late stage study of a rare disease is not meeting the need, and that is why it is trading down today. and of course, valeant reporting that it missed expectations, but it is a big cut in the guidance of the eps, and concern about the units, and they are trying to establish more stability, and clearly people are worried about when that stability is going to be coming, scott. >> thank you, meg tirrell with the good and the bad out of pharma today. and david, let e's go valeant, d you have said it is a speculative stock, and made money. but you made the point that it can go up 70% or lose 70% in the
blink of an eye. >> well, not now. the odds are favoring the stock going to 40 to 60, because the fda found a way to overrule the panel. so i you think that it is a high probability. >> and all right. do the valeant thing, and david maris is a well known analyst and puts out a note, worse than feared. what do we make of the story here, pete? >> well, i have looked at it, and i have not ever put my finger on why i need to be in there and i feel bad better that i haven't, and now a letter from the new ceo running the show, and you get a new earnings and revenue and debt and guidance. >> and yes, the fact that maris is coming back to the looming debt bomb. >> and yes. and david is a really good analyst. he has no problem, and he never pulls the punches. i don't know wi you wout no't kn
to stock. hates biotech valuation on a pharmaceutical company, and this is the quint es sessential exam and let me of state this, this is a quintessential example of not confusing the price declines with the values, and so, just because it is not cheaper, but more certain. >> and one thing that maris is discussed in the note therek, and looming around this story from the beginning is the prospect of asset sales which they say they will never do. and when joe akron was on with us for that hour, he said that that they have no plans to sell the core assets, but now -- >> they did. >> you may sell the things around the fringe, but we are not selling the core assets like bausch & lomb. >> and a litter party to be
exposed by the media and the short-seller, and probably no plans to have the equity level fall below the $30 billion debt load, and having no plans is different than things have happened and we have to react. >> i wonder if that is the reality of where the company is forced, and not forced, but an opportunity to make changes. >> well, this is where the creditors will make some noise, because for them to be paid backs they want to issue more stock, and more sales, and so as an equity holder, you are last in line, and why do you want to get in line with the creditors in line. >> and scott, look at free port mc -- freeport mccmoran. >> and it is not like he left
perigo in terrible shape. >> and he has left them, and matched the pharma over the last ten years, done better, but he has the opportunity for a major, major home run, and why not perrigo, and why not really cash in? i think that he is going for the hail mary. >> and coming up, we break down the bullish bets that carl icahn and ron barron is making. we will look at the value of the intellectual property of some of the promising startups moving into the picture, and as we go to break, here is a look at the stocks at an all-time high today. what are you doing?
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mcam, and can you tell us how your company played a role and the types of things that you looked at? >> well, intellectual property is not usually on the accounting statements or the balance sheets or no place to people can find it, and it is ephemeral thing most of the time, and we look to the degree to which the companies can control their margin of the price either on the supply side or the product side, and it turns out that this year's disruptor 50 companies have gotten the message to control both sides of the balance. they need to make sure that the cost are structures are things they that can control, and the product is going to be deliver a value they can defend. so you look at the traditional metrics, and factor in what you are talking about and come up with a cumulative score in a sense. >> yes. >> and helps to rank the companies in the list. >> yes. and so what you are looking at
patents, and copyrights, and trademarks, and other things, and also the degree to which they have around the competitive la landscape around them. it is the companies that understand if they are going to be controlling the market and the value, they have to get around the assets required to keep the brand in control. >> i was struck by the number of companies submitted that call them applications to try to be a part of this list. it is really stunning, and the number of people who have wanted to be one of the 50. >> and let's face it, in this day and age wanting to be seen as the critical in the brand-building strategies, and 750 people have come out to be seen, the fact that 750 people have been coming out, and 750 businesses have made it is a big deal. and what is is a bigger deal is that the companies that made it on to the list are really companies that have eaten out the niches for incumbencies. and in this list, the companies
taking on the incumbent businesses, and sometimes it is the legacy businesses that that don't have the momentum in the market. >> and you have the obvious names that you would expect, the ubers and the air bnbs and if you are looking through the prism that you have looked at the names, and names i have never heard of scored the best. >> yes. >> and this is the beauty of the list in and of itself. >> that is the point of the disruption, right? it is about saying that somebody sees the advantage in the marketplace that will for whatever laziness or incumbency, and somebody has decided not to put the time and effort in, and somebody says, crap, i have something here to do, and so what is not only here the great opportunity, but the bigger thing is that these are companies that have taken the time and effort to make sure that before they raise the hand and say, we have a business opportunity, they have ringed it with some pro pry tear rights
higher, and investability more attractive and better companies to last over the long haul. >> and one of the names that sort of fits is this code if you will is mongo db, and they process data faster than traditional databases do, and they are scored almost perfect at 99.9%. >> and yes, they are a great example of what they did right. what they did is to realize that the old argument is hardware versus the cloud or the network versus us is the cloud, and what they realized is that people care about data to retrieve and search, and mongo db said, hey, listen to what the companies want, and rather than telling them the format to deliver it in, and they have developed platforms that are highly defensible, and they are consumer requirements rather than telling the consumer what they want. >> and looking at the whole list. thank you, david martin, the
founder of m-cam, and for the entire list head over to cnbc.com. coming up later today, we will have the founder of bloom energy appearing on "power lunch" at 2:00 p.m. today. he is number 6 on the list. and ralph lauren is under pressure announcing store closures, and job cuts, and what will happen with the fashion comeback? and the founder of zen, and we will talk to deepak chopra who talked about wellness into a full-fledged business empire. and also advice from steve weiss who could use some advice in his life. >> well, a little bit more. >> well, a lot. they found out who's been hacking into our network.
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. >> back at post nine on the "halftime report." back to h.q. with sue herera and the headlines. >> good to see you. this is what is happening. at a washington event to unveil the house gop proposals speaker paul ryan disavowed donald trump's criticism of a hispanic judge, and the textbook comments
are a definition of a racist. >> i think that is a textbook racist comment, and that should be disavoi ed and unacceptable. and north kree is reporting a south korean fishing boa inin invaded its water, and this is consider ed considered a violation. >> netanyahu is marking the 20-year anniversary of the resumption of rearelations between israel and russia. and the most expensive sales
will take over to august, and so you need to book that summer flight before june 10th. i don't know, it always seems expensi expensive. back to you, scotty. >> i'm on it right now. and booking them quickly. all right. the trader blitz. up first, settling with a new score of 130 million following trade secret accusations, josh with zillow? >> it is a hangover stock. if you have been fundamentally inclined, you have a little bit of good news to get to momentum, this is a great signal to be evolved, and icahn is taking a share in hertz, and goes to 15.25% up to 15. >> and what is averaging down? >> well, the company has to split between the construction business and the rental car business, but in my view, the rental car is challenged by uber andlif lyft, and if you are a business traveler, you are just going on the app and not renting
a car. >> and now, a juicy story, departures of key executives owning the stock, and this is barely moving on the news a whind? >> well, they have been around for a while, and cisco is a behemoth, and you own for it the long term and not just because of a few people. >> and ron baron with a $500 billion stake in tesla, and he told squawk about it this morning, and said he is in there for a long chance. >> i think that i could own it for 10 or 20 years, and it could be one of the largest companies in the united states and the whole world. >> all right. that is long term, 15 years. >> 10 years or 115 or 20 years, and talking about the $300 billion investment, and what he talk talked about was the giga factory, and he thinks that the car sales in a year from now or two years from now, $20 billion and some of the numbers are
extreme, but he has a long version, and $210 average and the stock is right, there and if you believe what ron is talking about and willing to hold out, it could be a huge, huge winner. >> and meanwhile, ralph, store closures, job cuts, and this is a mess. down more than it is now, and still, a bad day. >> yes, today is the investor day of may overage. and now, you have the ceo clearing the deshgs and he has great experience, and great experience of bricks and more tor like h &m and the old navy and remains to be seen, but this area of retail is challenged space. so i don't know if it is the right price. more work. >> and this is a terrible stock for a long time, and down 50% from the all -time high, but looking at the price action, it could be hammering out a bottom,
and sales are breaking down below the high 80s for the third time and maybe a new floor in the name. i would rather be inclined to trade on the high side than accept further damage here. >> and new here, president obama is meeting with the indian prime minister in washington, and we go to see ma mow di in washington. >> yes, that is right, the indian prime minister is meeting president barack obama and others in the white house to discuss a range of topics including fighting climate change, and president obama saying that he brought about how to bring forward the paris climate agreement. they are also announcing the production of nuclear pow, and the six westinghouse nuclear reactors in india, and mow didi saying that he is wanting to take the economic relationship with the u.s. to new heights. this is day two of modi's visit to washington where he is going to continue to reference the
indian economic goals with ambitions of creating india a destination for the u.s. business and highlight iing the importance behind strengthening the u.s. and indian bilateral relations. the timing of modi to washington is interesting because it comes after china and u.s. relations are falling after the dispute in the south china sea, and the commentary coming from the strategic economic dialogue in beijing, and there are reports that the tensions will continue to escalate with u.s. and china, and that is why they say that the partnership in india will give the u.s. a ability to maintain a stronger ability and influence in asia and counter balancing china. that is something top keep an i eye on. and modi has a packed schedule here in washington, including a key meeting tonight with the u.s. india business council where are a range of the american ceos and the executives will be including including jeff
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lunch" and back to, you scott. >> thank you. and jackie le angelis is going to join us from nymex just a stone's throw from here. >> and yes, we are back over the $50 mark today, and what is key today is if we close there. and joel killberg, what is having to do with the dollar index? >> well, all of it, jackie. it feels like a pin ish line and i don't see the surge above $50, but we are seeing off of the february 11th low, we are seeing a 51% move in the july crude move, and as long as janet control s ts the one thing she the u.s. dollar, it will go to the 40 to $50 change throughout the summer. >> and jim, what are the critical levels and how much upside from this point? >> well, i disagree with jeff because it is long in the tooth
and i would be cautious. but the trend is your friend are. if you take out yesterday's highs, and call it 50, $45 the trend is clear and going higher. in all of may, the dollar rallied and crude rallied along with it. it is a mistake to make the assumption that the correlation is going either way, and it could easily sink as the dollar goes lower, which is i agree with jeff >> and talking about the tumble of the jpmorgan gas trade, and how you should look at that coming up. and we are getting spiritual here. dr. deepak chopra is in the house, and joining us on set at post nine to talk about his wellness empire, and a few tips for the traders. you don't want to miss that on the "halftime report."
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thank you. ordering chinese food is a very predictable experience. i order b14. i get b14. no surprises. buying business internet, on the other hand, can be a roller coaster white knuckle thrill ride. you're promised one speed. but do you consistently get it? you do with comcast business. it's reliable. just like kung pao fish. thank you, ping. reliably fast internet starts at $59.95 a month. comcast business. built for business. welcome back to post nine here at the new york stock exchange. our next guest has turned personal wellness into a full fledge ed empire by using the pow e of spirituality to change the way that businesses operate and thrive. dr. deepak chopra is the author of more than 20 best sellers and focused on making companies more socially responsibility.
he recently co-founded just capital along with a partnership of businesses and how they treat society. dr. chopra is on set with us here at post nine. and so good to see you, and thank you so much for coming on the program today. and the role of -- do spirituality first. the role of spirituality in business. is there even a role for it, and if so, how? >> if your self-worth is bigger than net worth, you are not rattled by the ups and downs of the stock market, and you are more intuitive and more creative and make better decisions. >> forgive me, we have breaking news. back to sue herera who has a note for us. >> i do indeed, and it concerns the nfl. the nfl confirming to cnbc that their twitter account has been hacked and there were erroneous tweets out there about the
health of roger goodell,commiss happy to report that roger goodell is fine, and the twitter account has been hacked an erroneous tweets are out, and they have been since remove and the nfl is confirming to us that it was hack and the nfl commissioner is alive and well. scott, back to you. >> yeah, we doubted the validity of all of that from are to g get-go, and we are happy to hear that. >> yes, good news to report on commissioner goodell. >> and speak iing of fine and well, and again, this role of the spirituality that it should play in business if any, and here we are in the pillar of capital iism in the new york stk exchange where it is about stock price and earnings and profits, and you say that it should be something more in the corporate narrative? >> yes. you should be self-centered,
self-aware, and you should be ti able to harness the visions and the intuitivety. >> you want to talk about this just capital jones founded. i reached out to paul, and he sent me the following. i'll read what he said about the reason that you did this together and then get your thoughts on it. paul tudor jones in an e-mail a short time ago saying we started it because capitalism as defined today is leaving too many behind and needs to be reshaped to reflect the needs of all stakeholders, not just shareholders. by giving the public a voice in what constitutes just corporate behavior, hopefully capitalism will evolve to benefit all stakeholders, employees, communities, and the planet. he goes on to say the father of free markets adam smith himself said if justice is removed, the great and immense fabric of human society must in a moment crumble into atoms.
pa paul tudor joens, your co-founder. why? >> it's about marketing and how the future leaders in business can actually engage in business that will help create a more peaceful, justice, sustainable, happier planet. i actually mentioned it to paul. he had also spoken at my course, and then he took it from there. i mean, he's now -- we're serving the entire american public to see what their perception of just capital is. >> wellness is sort of your all-encompassing mantra, i guess. health and well-being, wellness. tell me about this app which launches in a couple of days called gyo because it really hits on a number of things that several companies that we talk about every day are trying to make pillars of their business in the future, whether it's under armour or the nikes of the world, focusing on health and
wellness. >> it's more a social platform for wellness or well-being in five areas or six areas, so career well-being, job satisfaction, community well-being, social well-being and also financial well-being and how that is linked to your physical, emotional and spiritual workplace. >> guys? >> i'm curious on what your thoughts are as different generations start to take hold in position positions of these companies. they seem to have a higher sense of it's not about how much i get paid, it's about what my experience is working here all day. can i bring my dog to work? what is my flex time? what's your thought about that generational change that's happening. >> it's a great generational change. i see it in my courses. >> sure. >> at kellogg business school and colombia business school committee i think the future leaders are looking at the entire ecosystem of a business that starts with employers, employees, customers and investors.
this is the ecosystem. of these four constituencies, the employees should come first because if your employees are happy and holy, your customers will be healthy and happy. >> sure. >> that will make your investors happy. >> great examples, google, starbucks, happy employees and well-performing businesses. >> absolutely. >> i want to take a little bit of a turn here for a fun segment that we wanted to do because of all of our traders, maybe you guys agree that steven weiss is the most in need of spiritual guidance. a look at a typical day for him and want to hear your advice and let's watch this first. ♪ >> i'm always thinking about investing. i wish i could turn it off. i'm envies of people that are able to kick back and relax. >> hey. hold on a s.e.c. >> gross is low. >> there are times where we don't know exactly where he is. >> i think it's difficult to say
because it's difficult to know what he's thinking. >> we're really saying earth to dad. >> seeing him take care of five things at once. >> from the minute we wake up to when he goes to sleep he's looking at me but, hello, are you there? >> it's not just steve, as i said, where we are. wall street is made up of type "as." the best of the best have gotten to where they are in some respects because they eat, drink and sleep this stuff. what's your advice for -- for our gentleman, our friend over here and others? >> before you do that, can i point out one thing. i'm the guy wearing one watch. you're wearing two. >> it's a sleep tracker. >> he needs to come and see me. steve needs a consult. >> oh, i would film that. >> needs a spiritual consult, medical consult and emotional
consult. >> how do you balance that in your life, the drive to be successful? >> here are the five things, if you get them right, you're all set. sleep, stress management, exercise, emotions and relationships and nutrition. he probably needs all of them. >> does one out of five count? >> maybe. >> dr. chopra, a pleasure having you on. >> thanks for having me. >> dr. deepak chopra joining us at post-9. coming up, the earnings game plan for lululemon. the trade ahead of that company's earnings coming up next.
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today, every business runs on data. that's exactly why we built the ibm cloud. all right. lululemon reports earnings before the bell tomorrow morning. stock up almost 30% this year. it's been a comeback story. what happens now? do you buy the stock going into the number, up 30% year to date? not an easy place to get in. >> pete's been all over it. i don't know if you're still in it. >> i'm not in it right now and the reason is because it has had great performance and you look at where think directing and where their growth is going to be and they are going towards males and younger generations, obviously they are focusing on that like everybody else. they have come back so strong against the under armours of the world and the nikes who really took a leapfrog over the top of them when they had the stumbles under the -- under the predecessor of now the ceo when i think is doing a great job and i like the expansion story that they are creating right now.
>> i don't look at stock for the purpose of earings. inventori inventories, the stock should do okay. >> is this thing back? that's what investors want to know. >> stock price tells you it is. >> i think it is. they got growth. >> josh? >> i'm with steve. not into earnings, but if you believe in the story you're rooting for a short time hiccup or a bad reaction. that's when you buy it. i don't know if you want to buy it after great news. this is the type of name that's very lumpy. let's spend the last 45 seconds or so that we have left talking about the market itself. we are sort of on the cusp of these milestones again, trying to get back to these new highs. what's the significance if we do hit it in your mind, considering what we were going through at the beginning of this year? >> well, we failed at these highs. if we fail again it will be the third time, so let's talk about that because psychologically speaking you put in something like a triple top at a specific price level, what that does to
psychology is no bueno, and it's not like you've got growing earnings so you're real counting on sentiment psychology here, more than fundamentals in the short term and i would say it's not a slam dunk. we get through the highs and stay. >> not that far away as you can see. there's the s&p 500. "power lunch" will pick up the market story right now. we sure are. hello, welcome to "power lunch." a lot of numbers and markets to get to, but we'll start with dominic chu. news breaking of another high-profile attack of a twitter account, this time against the nfl. dominic? >> again, a big interesting story developing here. the nfl's twitter account was hacked earlier and just about maybe in the mast 20 minutes or so here, and it in essence tweeted out something that roger goodell had passed away. that tweet was an obvious hack and it was, again, something this was perpetrated in a very high profile way on the nfl's own verified twi