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tv   Fast Money  CNBC  March 18, 2019 5:00pm-6:00pm EDT

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even within a week, people have remarkable changes in their gene expressions, all the genes that cause self-regulation, healing, go up. >> what's the minimum amount of time i need to meditate? >> 15 minutes. >> very good >> not 15 minutes at the moment of the show. thank you so much. >> thank you >> that does it for "closing bell." >> "fast money" begins right now. >> that's very true. "fast money" does start now live from the nasdaq marketsite, overlooking new york's times square i'm joe kernen. tim seymour, brian kelly, steve grasso, guy adami, tonight, one of the top strategy ifs saying that new highs are coming and he says if this price target is wrong it's because stocks go even higher than what we're talking about and he'll explain what has him so bullish. lyft is the first of big tech companies gearing up for its
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ipo, but who is the real winner of this stampede of unicorns the answer might surprise you. but first we start with stocks striking back, six months after the bull market highs, stocks are making a comeback, a continuing comeback grinding back the levels since bottoming out on that december 24th and 26th of last year, the s&p is now within less than 4% of its all-time highs so two questions tonight, is it safe to buy now or have you already missed it? what can you do to maybe catch on to this rally the train left the station, guys, but is it the acela. is it going to washington? you're only in -- >> baltimore. >> or delaware we're glad joe pulled into our station tonight. >> he does that. >> that's done >> that's not written anywhere that's not written anywhere. what do you think. >> tim, with the early brown nose, i think that's fan 'tis
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tick >> i learned that. >> going from penn station in new york to washington, d.c., you asked where the train is right now. >> yes. >> i happen to think the train is in baltimore. a lot of people still think it's in the tunnel out of grand central station. that's what makes markets and, joe, i will tell you for the last 200 s&p points i thought would roll over and retest lows. i think we're long in the tooth. with that said i think there are trades that make sense i think health care has worked and i think energy tips to work but if you're asking me to make a trade that is sort of what's going to catch up like what's been lagging and what's going to finally catch up, ask me that question. >> what's been lagging >> that's a great question >> can you get away from the train metaphors as well. >> i didn't bring us into the train metaphor i just tried to add on the what can catch up, i think at&t now, that has been a laggard since the beginning of 2017. $42.5. but recently made a low of
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28.50. seems to have gotten their act together yes they probably overpaid for a couple and, yes, everybody from that time warner seems to be gone but maybe they're so far ahead of the game it's starting to pay dividends now and got into the directv deal a few years ago. i think -- >> what happens if the game is wrong? i know no one likes to hear this what happens if the game is wrong and catch-up trades are not the place to go. then the ones that have worked -- >> well, at&t, steve, look, i'm long at&t. but my question to you guys, what's the catalyst now because ultimately we've had an opportunity to deliberate. deal, no deal on time warner and had an opportunity to whether they have too much debt, high debt environment you tell me. >> here's the catalyst, great question and, joe, you're still the host of this show. any time you want to jump in >> i already did. >> interest rates will continue to go lower and people say if
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rates are not going higher ten-year yield, 2.6 headed lower than that probably on top of the fundamentals. >> overall for a second, so we're up 0% from the december lows right now the notion is that the best levels of the year could already be in, number one. you've talked about and i've kind of yanked your chain. you talked about the seller rating and valuations holding back the market. it hasn't held it back at this point. are we at a terminus here? >> the problem is if you feel -- if you feel like we were due for a sell-off which we have felt on this side, some have felt on that side we're due for a sell-off and it's overdone when do you say that's it. it's the last -- it's the last straw, the nail is in the coffin, i think you have to wait until q1 earnings have decelerated, went negative and see what the guidance is i've waited this long. i've missed it
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i missed the last 10%. i thought there was going to be a 10%. >> what would you -- would you buy if you -- would you buy -- not what if you got a five pullback will you be able to pull the trigger. >> i do stay long stocks i believe in momentum and timing, so i still am long equities if you get that 5% pullback, if you ultimately believe that we're going to make new highs, you don't go for the ones that have lagged for the wrong reasons or the right reason, you go for the large cap -- >> the theme of this is the catch-up trade and you're trying to give me -- >> the reason i would, i would go health care and unh and it's a theme that you are very well versed in. there's been political headwinds with unh medicare for all and prescription drugs and drug rebates. i think a lot of that is noise and unh will figure its way around that ultimately that's a catch-up trade i'm willing to buy. >> i get it as a catch-up trade
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but seems like there's so many headwinds still out there so in the health care sector, i'm not sure i want to be there if it's a catch-up trade why not go with what's working you have a federal reserve that will keep rates low and i'm not so sure about the long end so why not just go with the names that worked. go with something like energy. that's worked really well. why not go even down the chain on energy like to rig. transocean, those types of things for the offshore to see if oil goes higher materials don't look so bad. i think -- the playbook we have a fed who is going to keep rates low at two years and under what works on that >> the two places that i would say are catch-up trades are trades that i would argue have been catching up since really the fourth quarter and underperformed much of last year so that's first of all emerging markets and em or the vwo or however you want to play it at home you can see we're essentially back up third time up against resistance, 43.50
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it does look like in an environment where the dollar touched down at the 50-day, does not look like it has any gas unless it gives us a different message on wednesday which i don't think they will the dollar's range is very good for the rest of the world. talk about catch-up trades, spent much of 2018 how account u.s. outperform the rest of the world. >> is it built on the dollar or about growth >> first of all growth is priced to zero so my concept is i think the deltaon expectations is enough that people will reassess how bad things are or not so much in the rest of the world. you have stimulus coming out of the chinese central bank and stimulus or at least lack of any tightening coming out of europe. if you look at the charts the outperformance of the em is about 8 and a half% and agree with brian this is an inflation aerovironment even though rates don't tell you that being held down by policy energy is still the most shorted sector out there xle, halliburton i like. >> i hear you. there's zero growth to your
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point. zero growth but i don't think the market has digested zero growth >> that's why i was bearish. i was bearish up until last week and thought the market would reprice weak earnings. the bond mark priced in the potential for a cut by the federal reserve. and in that environment, if the equity market is looking at that as a positive, i have to reverse my bearish call and say, you know what, i was wrong about that. >> they're factoring in zero raises and maybe even a cut and quantitative tightening ending so we're not -- >> i don't think either one of you guys gave enough creed densz to how gut wrenching the move to december 24th was. it got just about -- we'll have julian on in a second but every analyst at 3000 as a price target for 2018 suddenly at 2750 on -- >> that's okay for a price target >> i won't speak for guy. >> 20% is not good enough to shake out the complacence y.
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>> for a -- >> once powell changed stance it became ultra dovish and started talking about quantitative tightening. >> sentment wise we waited and waited for the pullback and got a nasty pullback then when you had -- >> you did 26 and said we would rally 10%. did you not watch? >> wait a minute on the way -- >> hey, joe, on sentiment i think the point is positioning got so extreme first of all, we have had a once in really a market event effectively the "v" we saw here comes down to positioning. i would argue if you look at ai, aii, we're in an environment where positioning is reaccelerated to where bulls have the upper hand. >> it would be much better if you bought at both at 2300 let's get to julian. >> i shouldn't have been that cute >> you shouldn't have been and to think you're good enough to call it with those -- >> sitting next to you
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you look more handsome in person. >> i hear this lighting is better for me. adami, producer of "squawk box." you haven't hurricananswered he >> who >> clair clair just mentioned me. you're welcome any time. julian, you're on all the time let me give you the intro you deserve. our next guest says there's a major rally on the way >> i can't believe you. >> and if he's wrong it's only because stocks will go even higher than he thinks. let's bring in julian emanuel, changer director and derivative strategist what was your 20818 target 3000. >> 3000. >> did you change it to 2750. >> no. >> a lot of people did. >> we did not take -- >> good. >> between christmas and new year's off, we shredded every moment of it then we came out and said we thought the fed was going to go to neutral and going to be no more hikes and that the balance sheet would start stopping the roll-off in june.
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obviously that was validated to a certain extent now we'll see. but if you think about what you've been talking about the last five minutes or so, this rally has been, you know, it probably more validated by the fact that inflation expectations have been rising in lockstep with the market. and that tells you that the cyclical bias is valid in a world where the short end is going to be held down. actually we think that in a lot of ways because inflation expectations are moving up and because european data has started to beat expectations, which admittedly the bar is exceptionally low that you could actually see a rally in longer term rates which is going to be great for financials here. >> and that will steepen the yield curve and allay any recession fears that we still have -- i still can't believe we talk about that every day. is it going to be this year or next year? we hear the expansions don't die of old age but still think once they get long in the tooth it's
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coming i couldn't we be australia for 25 years or know. >> may not be australia but there's no reason to think that the tenth anniversary of the expansion coming at midyear we can't get to 11. you know, the fact is you look at sort of the guts of the economy. jobless claim, lending, ism numbers, all off their extremes. >> 3000 is not that -- i mean i don't know whether it makes it worth the downside risk from here but what is that? 7% from where we are that's not that bullish, julian. it's only march. >> so, look -- >> do you see 3200. >> to be perfectly honest we're somewhat surprised ourselves at the perispeed of this rally could see a number like that basically think about it the fed has by all rights started to engineer a soft landing. that is what the tightening of financial conditions, then taking their foot off the rate
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hiking mechanism has been all about. the economy looks even though first quarter still soft, looks like we're coming in north of 2% that's the kind of recipe that allows multiples that at 170 or $172 in terms of earnings gets you to a number like 32 or 3300. >> but, julian, i hear you talk about inflation in there and talk about renation trades if there is inflation does the fed just shake their head at that steve talked about an environment where people are underestimating the fed's ability to come back into the equation if you see inflation, that to me is something that, by the way, i don't disagree with you. i like these reflation trades. >> even though you could say the fed has won by virtue of the fact that inflation expectations are picking up, the talk is and we may hear them talk more wednesday is the averaging up of inflation, you could let core
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pce at 1-9 raise above 2%. the phrase is running hot. that's how we get the continuation of the cyclical. >> julian emanuel from btig, thank you. it says let's trade it does that mean you will start talking again? >> exactly that's what we do. >> we have till 6:00 >> okay. >> let's trade it. >> well, you know what, i'm with julian i think in an environment like this i don't think the fed will be hiking rates even if we get a slight uptick in inflation for the exact reason julian said they're laying the foundation for inflation targeting or letting things run hot in june they'll come out with a recommendation on what they should do with their policy so now i've got a fed that's going to let inflation go and not that concerned about hiking rates they're going to keep the two-year and under lower
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that's great for financials as julian said. the yield curve steepens i mean, you know, unless the fed comes in and not as the risk there's no question, the risk is the fed becomes too tight, gets too crazy, then you've got a problem but until that point, you got -- >> don't hurt me >> what's going on. >> you get the last word >> last word, i'm thrilled you're hear. tell declare i'm apologizing i was away with the family >> spam. >> she said months she said months. >> i was away a couple days last year >> you don't have to come on >> seymour would be great. coming up, another wild weekend. he's just jealous she hasn't been messaging him messaging you. another wild weekend for president trump on twitter tweeting everything from general motors to google's operations in china. plus there were like 23 other tweets we'll bring you the latest details, plus check out the shares of pot stock tilray we'll tell you what the ceo said
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that has the cannabis community going crazy. we'll be right back. oh, also later, lyft is just -- oh, this goes on and on, first of a number of big tech unicorns planning to go public. one top analyst says the real winner of the ipo mania could surprise you much more "fast money. i think this is the end here right after this portable lenovo thinkpad t480. to let your people stay productive from anywhere. wow, i feel really great about this. [ sneeze ] it's probably nothing... or something, really bad. you need it orchestration by cdw and lenovo. featuring the intel 8th generation core processor. you should be mad at airports. excuse me, where is gate 87? you should be mad at non-seasoned travelers. and they took my toothpaste away. and you should be mad at people who take unnecessary risks.
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welcome back to "fast money. wild weekend for president trump on twitter tweeting about 50 types in the course of a few days including about both general -- don't answer him. both about general motors and google eamon javers what day is it we got a long way. >> it's only monday. it's monday afternoon so you're getting there. >> we are. >> it's good to see you working this side of the clock. >> thanks. eamon. looks bright where you are is that a live shot? >> yeah, it is this is the actual white house here it's the real deal so, look, let's talk about the tweets the president was on this spree of tweeting. it was about 50 tweets over the weekend. some were retweets so depending how you count, that's tweets and retweet, a total of 50
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enormous number even for this president who likes twitter a lot. a couple of his targets for criticism were corporate executives and those corporate executives were forced to respond. general motors and google, two companies that issued responses to the president here's the president's tweet about general motors over the weekend. very critical. he said he spoke to mary barra he wants them to re-open a particular plant in ohio and says he wants general motors and the uaw, united autoworkers to begin talks now and don't want them to wait till the fall gm putting out a statement of their own saying any resolution of the situation is going to be done between gm and uaw in due course and we see this tweet about google, the president tweeting out, google is helping china and their military but not the u.s. terrible google putting out for its part a reaction to that suggesting that they are not, in fact, working with the chinese military and when you talk to aides at the white house about these tweets today, you don't
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get a lot of sort of backing up of the president's statements, i asked aides for whatever evidence the president has that google is working with the chinese military and they simply said they couldn't provide it. i spoke to sarah sanders about that within the hour and she said she didn't have it and aides here don't seem like they're going to be going to a lot of effort to get that. they sort of say the trees stand for themselves and they're moving on. interesting tactic by this president. it's not something that, you know, traditionally republicans have embraced, the idea of a president telling them how to run their businesses when they want them to re-open a plant he'll tell them directly that's this president's style. >> you're right. we'll get comments from -- did you start on your brackets yet >> no, no, no. but colgate is playing this year. >> i saw that. >> this is great >> first time since '96, i got to get totally up to speed on march madness. >> how do i take duke? >> colgate fans don't know that because we haven't been there
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for awhile. >> how do i take duke knowing it would make harwood happy >> you have to go with your heart or your brain. >> thanks. >> okay. >> grasso, what did you make of it. >> low regulation, low tax, competitive business environments so this is why he got elected. this is the unpredictable nature of donald trump where he throws out these tweet bombs where it sounds like a democratic president, it sounds like a liberal. people don't know what to make of that and this is what brought middle america in because they wanted somebody who was strong labor so i think this works in the end for him. i'm not a fan of it but if you look at the stock, general motors and google both up 13% year to date it looks like gm is basically rolling over google is one of these names that is always going to have a head wind whether it's a political, a privacy issue or whatnot but i think that ultimately google is a long-term
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play and you probably are safe there minus a lot of these. >> so big tech is under attack at this point in time. we talked about it on multiple different levels investing this this area you want to have a thesis on that whether or not it's going to impact the stock in the long run or try to isolate that and say one of the tech companies out there, particularly the social media companies are the least likely to get criticized by the president. twitter. he uses it 50 types over the weeke weekend. it's knowing exactly what facebook is doing and a messaging system, consolidating. that's the way to play. >> you ask yourself what -- to what extent do these matter for the underlying fundamentals of the company after the reality kind of settles out of the way gm, if you think about what's going on, recently reported. it's now trading subsix times earnings pays you a nice dividend enormous exposure to autonomous and ev, this partnership with amazon and rivian -- it's a good
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balance sheet and understand the pressure and i understand the pressure in terms as it relates to the labor market and some of the political issues the president is going after but has not affected -- gm is not trading where it is because of pressure from the president. it's trading because people believe they are under pressure for any kind of growth. >> twitter, there have been a lot of self-inflicted moves but twitter is at a point where they've changed the metrics and taking their medicine. i think that stock goes higher but gm with the president, without the president, mary barra is doing what she thinks is in their best interest so you have to let her make the decisions. with that said, this time in 2014, general motors was a $37.50 stock today it's $37.50 stock and the stock market that's gone straight up in an auto sales industry that's probably been the best in the history of the united states. if they don't rally in that
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environment when is it going to? >> i got yelled at about the basketball it's a one-hour show >> how long would it have to be to talk about that. >> three hours >> i think we could squeeze -- >> all right i don't want to get yelled at. for more on president trump's push on general motors and what it could mean for the company, head on her to cnbc.com. here's what else is coming up. ♪ shut up and drive >> lyft's ipo show is on full gear to make its public debut but who is the real winner of the ipo deluge the answer might surprise you. plus -- >> it's been a rough couple of days >> yeah, that's probably how facebook's ceo mark zuckerberg feels right about now. and as his problems pile on, are the stk'ocs best days behind it. that and much more still ahead
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it's up again. lyft hitting the road as it gears up to make its wall street debut. leslie has all the details sames you gave me this morning go for it. >> hey, yeah, that was about 12 hours ago i last saw you, today is the first day of the road show for the big tech ipo of 2019 the first big tech ipo of 2019, lyft, offering 30.8 million shares for $62 to $68 apiece that applies to market cap as high as 19 billion dollars for their sales. as he traveled by lyft he went to each of the three underwriters' offices to talk to
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their sales teams to get everyone on the same page on exactly how to market this deal to investors now, aisle told the investor meetings kicked off this afternoon and they'll continue traveling across the country for the better part of the next two weeks. the company is aiming to price their shares on thursday with trading on friday. bankers are hoping to differentiate lyft from its larger rival uber which is planning its own ipo over the next few months, lyft says being a pure play consumer transport company should be a strong point and it's founder led and today's terms showcase how much the two founders own in the company. green's stake is worth about $544 million while john zimmer, the president, owns $375 million that's the midpoint of the range and combined the two hold just shy of 50% of the voting rights in the company compared with about 5% economic rights now that dual clash share structure where the co-founders
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have millions of class b shares means the average investor who buys in won't get as much of a say as insiders will joe. >> it's hard to get the ipo as we know. let's talk about this, seymour 62 to 68 or whatever it is implies 18 billion which is above the last round which is -- >> 15.5 billion. >> you're not going to be able to 62 to 68 but buy it at who knows would you? >> 22, 23 billion and if you think about it they'll get roughly $2 billion a stock so 10% of the corporate and leslie talked about corporate governance and that's alignment and where shareholders stand but here and now and in this market environment and ahead of uber, people don't care they lost $900 million or so on 2 billion in revenue. i think there is a scarcity value in the space and think being first to market with a digestible size ipo is something
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i would own. >> i have strong feelings on this as well but my feelings are how to play it with individually traded stocks but our next guest is so better versed this this than instead of listening to me you should go to him. >> that's interesting. >> let me do that. unless you want to -- >> our next guest says the real winners may not be the ipos at all but the ex-changes where they'll trade. let's bring in rich rapetto. i don't know if i would have said this in december. it'll be a good market for ipos. >> 10% to 12% of revenue comes from ipos and listings, so far it didn't help the s.e.c. went off business hours for certain time spans and had 15 to house the nasdaq
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last year we did 185 so that's rough by 50% of the rate of ipo -- of nasdaq's ipos so we can see, you know, if lyft does well, it's just really a bellwether for -- we think, ipos coming out in the market they're excited about the pipeline they have. >> how hot could it be everybody knows lyft and wants uber, i mean, what kind of -- we haven't seen one of those just numbers where, you know, the front page the newspaper, everybody is talking about it mainstream america talks about it is it going to be like that? it could be. could it be 80 >> that's what the exchanges do. they are supposed to price these fairly and to get a good open and i think what tim says, you know, this isn't scarcity value, the first one, it's going to hopefully lead the way -- we think there's some pent-up demand for venture backed ipos and think it could unleash it.
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>> will be be one of those ipos. i was a stockbroker for ten years. if i was a good boy i might get 100 shares to give to my best client, merrill and hutton, nobody gets these things, you get 100 shares is it going to be like that for this. >> i can't tell you what the demand is going to be but i know the exchange really fought to get this and you'll be surprised at what they do to offer -- to get companies to list on their exchange i mean, right out here you get the nasdaq board, billboard. you know -- >> rich, if they're fighting for these and said it was 10% to 12%. will they meet in the middle the new york stock exchange has a premium versus the nasdaq. so is that -- do you think that price is going to come under pressure because they're fighting for that business for the exchanges? >> not really because what -- you know, they're giving them extra marketing, a fixed
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billboard. does that cost them incrementally more, probably not but fighting to replace the cost of lyft, these marketing costs that they have that nasdaq could help out you go to an airport and you see cnn at every airport that's what the nys -- >> and airport. >> they all have offerings and scaleable. they're not going out and spending the money but doing it out of the infrastructure that they've already built. so -- >> rich, thank you appreciate it. rich repetto you believe the exchanges are the best. >> no question in the nonequity -- mercantile exchange year over year volumes continue to go higher. nasdaq trades 15 times forward new york stock exchange. i.c.e. about the same, only exogenous risk if they put some transaction tax on which i don't think will happen, my question,
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when you were working at j.t. mar lann, was vin diesel as good looking as -- >> marlin. >> what was the other one, the wolf guy, god almighty, no, no, trained at merrill i did work at lehman brothers briefly. that's as closely -- >> how did that end? >> i was only there -- i wasn't there long, 1983 so nothing had happened yet here's my -- one last question, we have a little bit of time, do you like uber because of all the other stuff it's got or the pure play on the ride sharing lyft? >> if you ask if you could buy both at their ipo or sometime after the ipo i would say lyft is probably more interesting to me >> that was it. >> stratton oakmont. >> widows and orphans and the thousand shares good or would 2,000 be better for you? anyway, still ahead, uh-oh, i'm waiting for melissa to read this they didn't change my name do you believe that? no respect check out the shares of tilray the stock soaring after its
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earnings report. we'll tell you what has investors so excited how about first jersey remember that one? plus, the boeing fallout continues, the stock down another 2% as reports that investigations of the max 737 jetliner could be picking up some steam in washington, d.c. we'll bring you the latest much more "fast money" right after this
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welcome back to "fast money. boeing tumbling again today. that's why the dow didn't do as well as the other averages on track for its worst month in more than three years as reports that both federal prosecutors and the department of transportation are looking into the company's development of the 737 max airplane and phil lebeau is in chicago, another friend from the early hours of the morning with the latest on boeing and the fallout, hey, phil >> hey, joe, let's start with the d.o.t., which is scrutinizing the relationship between boeing and the faa that is coming on a day when canada's transport ministry has said they'll take a look at the faa approval process as they review the certification of the 737 max and the relationship between the two essentially focuses on the question was the faa as stringent as possible as
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tough as possible with boeing as they were working with boeing and boeing was handling some of the self-certification within the overall certification of the 737 max, all of this has people saying, are we looking at an extended grounding, something that could last perhaps a month, two month, three month, who knows? that's part of the d.o.t. scrutinization if you will of the faa and boeing and doj investigation. i say investigation because we have learned that a federal grand jury has been looking into the process for the 737 max in terms of how it came to certification and the development of the 737 at least one subpoena has been issued they are seeking to secure documents. we have heard no comment from boeing at all. it says it's not even going to acknowledge if there is an investigation and by the way it also says relative to the d.o.t. it did not cut corners in the version process with the 737
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max. so as you take a look at shares of boeing, we know how bad it's been over the last week and a half, more than -- a week? monday is when it started falling out of bed boeing versus airbus and this shouldn't come as a surprise we see this whenever one of the airplanemakers runs into trouble, the other one benefits. mabel not as much as you might expect but certainly shares of airbus have moved higher within the last week. joe, back to you. >> if you love the dow, you know every point in boeing hurts you on the dow side. thank, phil. now, bku was the first to text me you were excited i was anchoring. let me go to you >> deserves it. >> as soon as i heard you were on i was immediately on my phone. >> you go ahead and take it away you're welcome is the worst still to come. >> actually i don't think so i mean purelily as a trade we talked about this last week. it is holding up remarkably well even though you still get bad
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news after bad news after bad news so i'm talking about this purely as a trade, three months down the road not sure what's going to happen. you have 360 at your support level. if you get a hint of good news, just a whiff of it you could get a real nice bounce off this so risk/rewardwise, i like it >> this was the poster child for china trade deal. >> 290. >> i felt as this one really ran in and should get a haircut coming out of that deal. already got the haircut not coming out of the china deed but i agree with that level. i do think that if it holes this level but keep it on a short stop if this thing breaks down, 351 is the ultimate level in boeing. >> i didn't text you this morning. >> no, you didn't. >> i think -- i'm very bullish on boeing as a company i would be different than these two. a fantastic company. i have talked about their reputation certainly their safety record,
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but in the short run and based upon the history of how this stock has traded after the faa grounded one of their airlines or fast as i'm concerned there is a two-month purgatory period. i'm someone that is a holder of boeing and i'm not selling shares here. i'm not jumping in here because i don't see why some of the good news and some of the things we've talked about change the story overnight. >> tim, you did get under the wire. >> i did. >> 457. >> i did >> you did -- anyone add up the market cap loss in boeing and decide whether its exposure could ever equal -- could it equal 40 billion. >> if there are class action suits, could it? i don't know what that could be. >> intentional fraud >> starting to hear about that i can't answer that question what i will say is last week when it traded three or four days of 30 million shares each, that's remarkable volume for this and i thought you put in some sort of kapit --
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capitulatory bottom. the wait time is about five years butnow different headlines. the only reason i was second to text you i was paralyzed with joy but my fingers weren't able to use the telephone. >> he did it friday, though. >> when he knew. >> so, all right >> we had dinner on sunday. >> exactly and breakfast. anyway, coming up, shares of tilray rallying after hours. the cannabis company reporting earnings moments ago we'll hear from tilray's ceo and facebook tumbling on a downgrade as they face a cloudy future ahead. why traders, some, anyway, are betting on a turnaround. much more an "fast money" right after this
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welcome back to "fast money. shares of tilray up over 2% on earnings aditi roy is in san francisco. fittingly. she will tell us what the ceo had to say. >> hi there. tilray reporting its revenues more than doubled from last year the company says that was driven by bulk sales, canadian recreational legalization and
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ramp-up in wholesale distribution total kilograms increased threefold but the net loss ballooned to 31 million in q4 compared to a quarter prior. that was primarily due to expansion of international teams and m & a costs and tilray has made some acquisitions recently including hemp food producer manitoba harvest in an interview with "closing bell" brendan kennedy said that deal along with the passionage of the farm bill will help them enter the cbd market in the u.s. before the end of the year. >> the passage of the farm bill we achoired manitoba harvest, the largest hemp food company. when you think about retailers like albertson's and amazon and whole foods and costco looking to put cbd products on their shelves, they're going to go with the brand they know and the supply chain they trust like manitoba harvest which was part of the rationale behind that
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acquisition. we think we can use that in the u.s. to bring cbd products, hemp derived cbd products to market quickly. >> some other highlights on tilray's deal with anheuser-busch we can expect cannabis infused drinks to enter the canadian market by okay when asked why he sold the company's stock, he didn't seem to have a clear answer saying it was a small part of his portfolio. >> grasso. >> it's like trading biotech it's very binary so i own canopy and crotilray i laggard. the trader would take a look at tilray for a catch-up trade. >> oh. >> tim no kidding
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>> you moderated a panel at south by southwest >> this is royalty >> are you a yuppie? >> like a millennial will acreage holdings ceo kevin murphy and former speaker of the house john boehner what world are we living in? >> he didn't cry >> careful with the name here's what boehner had to say about the legalization of marijuana across the country >> 33 states approve the use of cannabis in some form, it tells me that the american people are for this and members of congress, other elected officials pretty smart folks, you know, when they find out that people are for this, guess what, they begin to change their opinion as well. and so washington has just been in the way >> anyway, in fairness, he is a golfer probably out -- >> is that tan from golf or fishing?
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>> let's talk about speaker boehner. the perception change in washington and he spoke openly about how he's had a change in view i think that's a great sign of leadership but ultimately the perception change is leading to a legislative essentially takeover of the country and that's what this panel was about. it was talking also how the state's act which is legislation that could come in 2019, it won't change the story federally in terms of schedule i but allow them to bank them severals which is enormous in terms of profitability. start to sketch out how taxation will go and acreage which is truly building brands and retail footprint. tilr tilray anybody in hemp can put this business on a national level and then they can also be in the states that are legal so it was an exciting day. certainly was a visionary kind of day to -- that's what the panel was to talk about the prospects for the sector and favrely i think the perception change in this country is the most important thing. >> did you feel like a geezer? kind of, right >> there was some older folks
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than me. >> i took a chance even saying that to you. i got to go. coming up, facebook shares tumbling on a downgrade but some traders are betting the worst might be over for the social media platform we'll explain. chvety nasdaq in times square. mu more "fast money" still ahead. what do advisors look for in an etf? don't just track an index, help me meet a client's need. is the fund built to sell or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information.
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welcome back to "fast money. shares of facebook feeling the heat following a downgrade by needham. stock down by 7% and needham turning cautious on the social media giant as a ramp-up in executive departures potential regulation and escalating privacy concerns weigh on the stock. facebook now down 26% from its highs and seeing the most hold and sell ratings on wall street this year since back in 2013 but one trader is betting the stock is gearing up for a turnaround mike khouw known as t-bone to break down the options action. what's up? >> what's going on, joe? we did see well above average in volume it traded two times the average daily options volume that means something because it
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trades nearly 250,000 contracts a day as it stands so traded about 450,000 so almost two times today and one of the trades that stuck out to me was a good size purchase of the may 1, 62.50 call. someone paid 7.40 for 1700 of those and would represent $27 million of stock if they got long in the stock at those levels one thing i would point out other than just saying this individual bet which is betting that it's going to be up at least 7% in the next 60 days we have seen upside call premiums increase more than the downside put premiums so might be as the stock has come in options traders are thinking that one way they could risk a little bit less and bet on a running back buy some of those calls and we've seen a lot tradeing. >> okay, mike, thanks. for more options action check out the full show friday at 5:30 p.m. eastern up next, final trades.
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time for the final trade, tim. >> nice job tonight, joe google, we talked about this, pressure in the stock price. >> b.k. >> still like that oil trade oih. >> grasso. >> square, i'm still long, lower
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0s, you're a buyer. >> see you in 12 hours on the big screen anardarko petroleum. >> are you on the mall. >> no, he's going to watch >> i don't know what you do in the morning. >> thank you >> you're all welcome. thanks for the techs "mad money" with jim cramer starts right now my mission is simple -- to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money my job isn't just to entertain but to educate you call me at 1-800-743-cnbc. or tweet me @jimcramer close watchers of "mad money" know that i do play

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