tv Fast Money CNBC September 9, 2019 5:00pm-6:00pm EDT
small market confidence index. labor turnover report. see what it says about labor market it's been a very strong part of the economy. probably going to continue but it's worth watching. >> markets finished essentially flat out, s&p being on the flat line >> "fast money" begins right now. life in the nasdaq market site overlooking "new york times" square. the countdown is on. apple's big event tomorrow will it be enough to convince investors to trade up. and activist taking a shot on at&t traders take a second look boeing pausing stress test on its new 777 after an issue is discovered we begin with big bang breakout.
s&p 500 ended in the red check out these moves from citi, bank of america, wells fargo and jpmorgan all in the green. few days ago rates were plunging birds and cats were living together now look have the banks turned a big corner >> i don't know about dogs and cats living together >> if you had to be a cat or a dog -- >> i think of myself as a dog. >> it's not a good question to answer on tv >> let's go to the markets i think what happened everything got ahead of itself. you go back to tuesday i think before memorial day we power pitched southeast banks. citi, you know what boring market, slow week, into a holiday, market will rally tl tee gott ahead of itself. when citi discount at that discount tangible book it's been a buy. that's what's happening.
i don't think again the landscape has gotten better for the markets. the trading landscape in the short term has does citi have more room yeah we'll undershot to 61. the head wind that they face still exist today. >> there are some rays of sunshine based on what the ceo said today they expect growth in the back half of the year. other parts of the business that can offset some of the losses or softness so the rate sensitive businesses so can you sort of extrapolate that maybe thing aren't as bad as people thought >> i think that what the prices they were trading at before two days ago really reflected a lot of bad things. so i don't think -- more than a lot of them. extra. too much penalties there when you think where science at the bank was trading well under ten times earnings. jpmorgan, ten times earnings, 3.5% yield bank of america one ten times
earnings that's a lot of bad news priced in their business models aren't all interest income. there's other income there as well so i think the markets are saying oh, the whole book of big money centered banks is a giant two year ten year spread i'm not selling them here. i think they are still attractive >> i'll answer the question. we had one come from a market position i'll talk to you context of the overall market you could make a comparison to the first quarter 2016 when we were worried about global growth once we got the sense recession was off the table, banks are going to have a historic run citibank is up 13% in 18 days. if you look at the xlf it's kept pace with the s&p. the most important thing that happened today, and i hate hyperbole, this is oneof the most extraordinary trading days
of the year that no one is talking about. s&p was flat banks at 3%. xrt up 3.5%. this is a major structural dance. >> has nothing to do with banks. it's a behavioral thing. you look at s&p 100, the more beaten down you were the better you led. simon property things like heinz which is down 80%. ge it's not a bank story. but they matter the most simply dead cat bounces and dead cats do bounce but do they come to life? no they are still dead >> it was more about deflation isn't as bad as you thought. >> i believe there's some structural stuff that's left over from the crisis deflation as exemplified through bond yields, gold going through the roof the things that rallied today are if affiliationary base
>> these are retails that won't exist at some point. it's, again, it wasn't specific to banks the fact that it was, ge, tells you it was just an unwinding moment >> there's two sides here on this side of the desk. extraordinary trading day or just dead cats bouncing? >> extraordinary trading day in terms of move in yields. everything was extraordinary in the context of what we've seen i tend to -- it should come as no surprise, i tend to agree with carter. these are bounces within the framework of things that have been too oversold. you mentioned simon properties look where it bottomed out in april of 2018. look where it recently bottomed out. you can understand the bounce. slumber jay h-- schlumberger han
essentially dead bears could say it should have been up 25 handles on a day like today. >> the other flip side is growth at any price which had been where everybody wanted to go no matter terrible look at names like crowd strike or zoom, just absolutely getting annihilated today. just a giant rotation. everything that didn't work now is piled into that everything that did work time to bail does that continue i can't be in a crowdstrikers. too expensive. they were too expensive two days ago. too expensive for me when momentum goes out those kind of names have more down side >> it's not terribly surprising crowd strike and company and their ilk are going down on a day like today or not rallying as much. what's been interesting is google, amazon, anything that's been defensive, relative momentum but they tend to be low
momentum stocks in difficult times in the market are underperforming. so carter is right to talk about schlumberger when i look at transports that are very real companies not going out of business, i don't think they are dead cat bounces. i'm not saying the world got better in two days it's always about positioning. always about where the market momentum is. we have an ecb meeting come up in two days. >> we know that the machines momentum is on both sides. you have momentum down and momentum up. when it flips it's -- you get these levers going on both sides. but it doesn't usually last that long >> at what point do you think -- >> would take a lot of time. and a lot more of this kind of thing because we saw others
bouncing >> i agree i don't think -- you can say suddenly it's all good for all these things that have underperform for a long time for the last three weeks we saw the david axelrod outperform the s&p. this isn't a one day phenomenon. today was a bit of an exclamation point. >> greet to sat to see you agai. is it the banks or these sectors that were dead cats bouncing >> i don't know if i would go as far as the dead cat. what i mean by that it's very enticing when you look at the move at the banks and put it in the overall context. rates bottomed a weekago and moved higher citi surprise index bounceed into positive territory a week ago. value ingeneral has moved up there's an inclination, this is
the move in the value, cyclic alls we've been waiting for. you need confirmation on that. you need to wait and see what the fed does in a week the ecb similarly has to provide some delivery. this meeting is not as important as the one that comes in november when christine lagarde takes over you need the data to come in strongly if we're talking about the global inflation trade, that's incredible bullish so, i'm enticed by it but not willing to jump all in on it just yet >> how are you positioned in the markets right now. sound like you want to see how the data plays out the fed will cut 25, deliver on something. so that's sort of in the expected realm, the data is a little bit of a question mark at this point >> the thing about the market we have a path between the p and the e. the pe should be higher.
we took the discount rate for stocks and cut it in half. the only reason the market isn't higher is because the market is concerned about the recession. what it comes down to is how will earnings come through that's why trade matters, hong kong matters earnings will be okay. they will be flat to slightly up you'll get a re-valuation higher because of those lower yields and that's where you play for the next six to 12 months. in the course of the next six months i want to see how the ecb goes, earning season we were 8% over equities we brought that down to 3% in the may-june period an cone tent to stay in that period and see how the next month or so breaks. expecting to move higher >> in your experience do you find that these value names they bottom when they get to a price that's cheep enough where people say everything bad is priced in.
i'll wait it out can't be that much down side left >> that's what makes today so tempting they do tend to discount this. they may be discounting the fed next week and delivering not just the cut that everyone expects but what wren dollarsment of further cuts to come so that's why i want to see that come through because if they spoi disappoint then that could get snuffed out. >> it is a central bank story. are we not making enough about what's going on in hong kong are we not take attention? >> when we came up here all bulled up in january we did so because we didn't see a recession coming we still don't see a recession in the next 12 months. we think that the central point. the market is concerned about one. insofar as the fed eases that
reduces those concerns as trade the tensions ease that reduces those concerns third quarter, if those estimates for 2020 are okay it will further ease concerns if you see a recession in the next 12 months you better be bearish. if you don't i think there's opportunity to upside particularly yields have fallen so much and discount rate for equities is halved >> the carnage we're seeing in these tech names down 15%, and others, if that starts to go over to visa, mast card, microsoft a little bit it did today can the market endure that >> that's the market structure question the u.s. is more tech heavy than other indices. you can see the overall market move higher. you may see a bit more international performance, more small caps do better in that environment. but we've seen periods over the
course of the last several year, value sicyclicals do fine. >> thank you so the central bank conversation had to come in to that still the number one dynamic when you talk about the pe ratios with lower rate that should have higher pes things that rallied today that largely -- when we talk about banks and let's talk about transports and let's talk about some of the other cyclicals. those are not demanding valuations starbucks and food stocks and restaurants and health care relative to itself are so when you look at where the market can go even with recession -- if version is off the table this rotation makes a lot of sense and doesn't have to have some kind of earnings generated dynamic behind it. it just has people to get back expectation. >> coming up at&t rallying with one big activist investor buying
. welcome back to fast hope. shares of at&t getting a boost today after activist eli most management revealed more than $3 million stake in the telecom giant. elliott raising concerns around at&t's current leadership and recent m and a including the acquisition of time warner says it should reach $60 a share by 2021. the stock was up by more than 6% >> i'm wondering if he was caught up in that revariesal by the end of the day up a pretty modest amount i think that, you know, if you're a company, the activist you never want to hear calling your number is elliott right? but what at&t has is they are enormous 3.5 million is a really big stake but it's not enough to force them to do anything. in terms of like how aggressive they've been in their prior things when they came out with e-bay
with a smaller company the company caved immediately. is that different story. at the end they said we would like to meet with you. i don't know if they tried to meet with them before. i don't know if they ratcheted up the pressure a tiny bit at&t should meet with them they are a large holder. they are smart people. clearly have done a lot of work. any organization has big as at&t who has done a number of acquisitions that they have must have some things that are inefficient, must have things in there. they should meet with them to talk about this is a 2021 they could get to significantly higher numbers, that's in the future but a lot of room >> what's not obvious is what the elliott strategy would be. they are critical of a conglomerate approach. but they haven't necessarily said we want these assets sold
off and we want this to be a media company and this a telecommunications company what's interesting for company, i'm long on at&t, it is the sum of the parts story when you the tart to hear -- there's a massive discount to the sum of the parts i do like it i think there was just a challenge to randall stevenson staying within house and staying within a boys network egot to make hires to run these new companies. hey did you interview anybody from the outside did you push for the best ceo. that's fantastic that alone should be enough to drive some value >> the stock has been bottoming for a while. his action is bullish. when you close on the low it will fill the gap. after april tell the second most profitable company is at&t it's still here and here to stay >> made a lot of investments concern for a long time their balance sheet didn't look particularly good. a lot of people -- he had conversations about the
potential for a dividend cut i think to a certain extent maybe those fears have been sort of assuaged for a day or so and the way the market moved today indicates that it backed up today on what was four or five times normal volume but to carter's point this is constructive i don't know if it gets to 60. tim was banking the drum at $29 to $30 maybe the investment at&t made four years ago are starting to pay dividends for them now i think that's the bet >> is it worth a look at this point in your view >> probably. i think that, you know, they do talk about some of the things. they just want them to actually just focus more. focus more on the ones that matter instead of going through the missteps they didn't say anything about trying to put people on the board. it is worth a look >> for more head on over to cnbc.com i'm melissa lee.
you're watching "fast money" on cnbc here's what else is coming up. >> reporter: jpmorgan's attempt to tract the impact of president trump's tweets boeing shuts down the testing of the 777 due to an unexpected event. phil lebeau explains stick around "fast money" is back right after this. t teamwork is all about. you can't do everything yourself. you need someone to guide you and help you make those tough decisions, that's morgan stanley. they're industry leaders, but the most important thing is they want to do it the right way. i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. - stand up if you are first stand up if you're a mother. if you are actively deployed, a veteran,
and we're look for three new iphone models. some updates could include faster processor, an improved camera system. that's often an important reason people do upgrade. maybe some stronger waterproofing and shatter resistance big question is the price. what is tim cook charging you for these new models one is expecting apple holds these price constant no real change from the current lineup we're looking for wearable, a new watch. air pods the fact if you combine wearables and services, according to apple you're approaching the size of a fortune 50 company speaking of services do we get any more insight it's been about six months since apple unveiled those service investors want to know when it comes to apple tv plus, that streaming service what's the
price. apple was considering 10 bucks a month. and apple arcade that is a big potential opportunity. 1.5 billion people do play cell phone games and the way that apple sort of is badging these pay download games is unique we'll be looking for all that tomorrow back to you. josh lipton in palo alto, california why do we care so much if we do care about they products since the big upgrade is next year >> because refresh and upgrades even the software, gives the company an opportunity to flex its wear josh talked about the pricing. i think it would be interesting because if you look at the cut in memory prices and different components they get more profitable they had a lot of leverage they can pull especially in a trade war backdrop it comes down to service it comes down to the blended multiple of the company which i think at 17 times, 11 with
iphones and 25 at services, you have a 250 stock >> i watched the programming during the day on cnbc >> clearly >> on the "halftime report" from san francisco, he said tim cook should step down or should be fired. one of those two things because apple no longer innovates. i don't think that's true but i think to tim's point the strength has been there the fact they are now utilizes install base and become a more service company. you have to admit over the last couple of weeks apple has traded remarkably well when some of the rest of that group in the fang group has not. maybe all time high in 2018 which was 227 or thereabouts >> i don't know how high expectations are for this meeting. other ones have not been that much higher. i think it fits a few thing. one if they want to downplay themselves as a hardware
company, iphone is the centerpiece of that, to have that be a little bit of a less prominence because everyone is why i do buy one now wait for 5g next year. expectations are low that's good going in i'm long -- i think the thing that makes me most nervous is more extraneous trade war, tariff it's not the big show tomorrow >> apple's big day is tomorrow we'll take a closer look at some stocks because southeast stocks in the apple universe are nearing some key resistant apple as well, guy touched on it. day-to-day action compared to other mega cap, super cap piers is impressive. let's start with the semis it's a leading indicator in many
ways a risk on trade. what we know is that the semiconductor index -- i'll zoom in a bit -- made a slight new high and then as we approached that level but what's not happened is relative performance of the s&p was never able to confirm that so critical here is do we or don't we break out and you're going to obviously make a bet or not. a lot will say it will be a triple top and some will call for a breakup. the tell is something is not quite as good as it appears. i would draw it this way ultimately semis don't make the new high and they fail so let's talk about apple. apple on the other hand day-to-day performance is relatively good. the set up is as follows you're into this very tight and we pushed above this and back to where we did get above it.
we did get above it. here's the zoom. you can see we're just starting to break above we will approach the highs now the most sort of worrisome thing of all is the unwind in key credit gold names. igv software and other tech etf. this is the june low, market low and we're nowhere near that low yet we're making new relative lows to the market you saw the action today but losing names like coop and all at that, losing work day, salesforce.com if it spills over to microsoft it's not good. >> so, you know, before you come back -- he does occupy a seat at the desk when you ask, i feel there's a leading question if you ask
steve if you lose necessary names in tech can the market go higher >> my guess it cannot. it's musical chairs story. also, we've already had a substantial bounce bkx is up 10%, 11% so we've already extepended a lt of energy in the bounce. if they unwind like other names have i don't see how the market holds up on that >> carter come on back over. >> he comes back over and we can chat about -- >> nobody has to bring a chair over he has the chair already he's back. >> i tend to sort of lineup in the cbw way of thinking which is that's what makes markets. at a certain point in a lot of these names valuation matters. texas instruments which has trade remarkably well around now i believe it's all time highs
trading close to 22 times or so forward earnings with maybe 8.5%, 9% eps growth. at a certain point you have to get a deal done with the chinese and these stocks are too expensive. i don't think there will be a deal done so by default these stocks are too expensive >> the resistant in semiconductors lines up with the fundamental theory that apple will swequeeze its suppliers to survive the trade war. >> they have a lot of strength they are the walmart of the retail world what you've seen those multiples not doing so well. but on the semiside think about what semis have done in the middle of a trade war, i think it's nothing short of extraordinary. if you take the december 24th low, they've actually outperformed the s&p by 17%. pick any dots you want anywhere in the world much maligned semis are up 7% from the june 2018 high and that to me is still kicking along
>> i don't know -- i don't care if the market can go up. i care if what i own goes up, right. so i still like what i own but i feel like -- i said over and over volatility index you got to own protection. there's so much volatility in the world. it was up a tiny bit today i think on a day -- i think there's more room for the vix to run higher >> making volatility great again. more trouble for boeing. we'lltell you what st enthe stock in more head winds stay with us, "fast money" is back in two. we're built for hearing what's important to you, one to one. edward jones. it's time for investing to feel individual. we think you would really shine in the aflac program. aflac! coach saban we have health insurance.
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the most personal technology is technology with the power to change your life. welcome back to "fast money" we have a big interview coming your way tomorrow morning. peter navarro will be on "squawk box" catch that interview tomorrow 8:00 a.m it's finally here. an index to track president trump's tweets called the vouffee tweet. the index takes a look at the movement and apply rate
volatility for the two and five year treasury. bank of america put out a note saying days in which trump tweets frequently the market moves lower. when he tweets less the market sees positive returns. >> interesting that someone has finally done it. i would say jpmorgan has top ticked in terms of where we are now in the civil president trump's tweets built but i also say this. if i was selling volatility i would be market vol and sell vouffee because i do think we're at a point of diminishing marginal returns in terms of what the president tweets. >> buy volatility. >> market vol, sell vouffee. >> pair trade. >> hard to put on. >> i don't know. i'm sure someone will make a mark on that >> the trump tweeting -- we're
making great progress on china, diminishing returns. here by order that really packed a punch. that was the most significant one. >> consistent with the analysis of volfefe if you think about where we were at 150 s&p set point spread in the middle of a volatility period it tells you it had this smoothing effect you want fedfefe it's about what central banks are doing. i'll track that index. that's the one people have not priced in. there's too much priced in >> fed funds futures would be obvious or could it just be the ten year yield >> ten year yield. we had this blow off top we're not out of the woods
these are the correlated assets. most of the stuff is somewhat unconventional. outside typical behavior so whether you like him or not, most of that stuff typically works people up. when people get worked up more likely to go down than up. that's what they concluded >> president trump has tweeted an average of ten tweets per day since the start of 2016. he has tweeted 10,000 tweets since the inauguration in 2017 but i do wish to your guys points they had segmented the impact or bank of america when they did the impact segmented it before versus let's say this year, right? because markets are becoming inured >> i do think his tweets make
less and less impact on the market which by the way is probably a good thing. to karen's earlier point about that tweet on friday i here by announce, that should have been catastrophic and lasted a day and a half >> if you believe the information you're get is accurate, overall more information is very good for market efficiency. if you think about where markets are relatively to where they were 25 years ago, there was such inefficient information flow we didn't have people constantly tweeting we didn't have the federal reserve whose mandate seems to have been changed to hey we have to make sure the market knows everything that's on our minds at all times of the day. southly this should be dampening anyway just not sure we're getting the right information. >> i think uncertainty -- i mean
his mercurial moves creates uncertainty. markets don't like uncertainty steadier cash stream will trade much better than a bumper one that might be higher overall >> boeing facing turbulence after facing some tests. we'll break down the details and what could it mean for the stock. payment stocks are under pressure the sell off has only begun for one name in the space. don't go any more, much more "fast money" after this. i wanna keep doing what i love,
failed a key stress test >> reporter: this involves the 777 x, boeing's next commercial airplane wide body scheduled for delivery at the end of next year. the cargo door blew out and this is a test that's required by the fia before certification the 777 x is in development still and originally they were hoping to do earth flight in 2019 that's already been pushed back until early next year. by the way boeing says the schedule has not changed when it comes to 777 x in terms of first flight, first delivery by end of next year. i know the stock was down a little bit keep in mind this is a plane that is still in development. i'm not sure the stock was down because of this news this is more of a case this news along with what's going on with the 737 max, it just raises more
questions about boeing than anything else. again we should stress it's a plane in development this was the maximum load test that's what these tests are designed to do to push the plane way beyond the limits of what they would see during commercial service. >> when we hear a setback for a plane like this in development in more normal circumstances >> reporter: we may or may not you might hear about it especially if you're quote-unquote actively following the development of an airplane but a lot of people wouldn't pay attention to it. but because it's boeing and they are under the microscope every little thing gets reported >> phil, thank you joining us from vermont. mike is where he is. >> but phil makes a good point
we may not be talking about this had it not been for the max but now everything -- >> is under the microscope >> which is not necessarily a bad thing. it's probably encouraging thing. in territorial of the stock everything went down, i think it was late february early march. stock traded down to 365 on tremendous volume. i thought, said it did, month and a half we would be talking about a $420 stock i was wrong. but now you have taeded pressure of the situation with the chinese. that doesn't seem anywhere closer than we were six or seven months ago boeing has this double whammy. at this point you have to wait for earnings if you wait this long why not wait until october 25th. >> how is the stock looking at this point >> sometimes stocks don't have the to move. sometimes they are not meant to move they are priced where it
belongs. >> is it fallow? >> it's an interesting valuation. i would be more concerned if they cut production lines and had changes to the structure of the company. these delays here to me in the short run are not material pre-cash flows yield are extraordinary. i like it at these levels. >> an example of any headline is going to be a head wind for an investor >> this is just 1% move or a little bit more than that on a day -- kinds of fallow i didn't know i felt that. but i think so >> it's a great expression >> it's amazing what he brings to the table >> coming up payment stocks getting pummelled. one name in the space is gearing up for more pain hide. take a look at your kramer cam. kramer is talking to the zoom
ceo. that interview is coming up. much more "fast money" still ahead. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. - when i see obstacles, i create opportunities. (soft music) - when i see adversity, i find a way. - when i hear never, i say now. - [announcer] southern new hampshire university is education made to fit your goals with over 200 degree programs, flexible class schedules, and some of the lowest online tuition rates in the nation. (cheering) - so when i face barriers, i can break through.
options traders are betting one much these names is way past due. brian sullivan will break it down >> reporter: payment stocks, visa, mastercard as the market started to roll over, visa was one of these names upgrade in the morning by citigroup. option value trading two times started to explode market started to roll over. what we saw were buyers of the september 180 put. these are puts expiring on friday and they trade for an average price of about $1.38 basically saying the stock by friday could hit 178 to the down side as the market started selling off lower here stocks like visa, mastercard start selling off harder they are betting there's more down side. maybe some profit taking when you look at the growth stocks in the last few weeks, enormous pe. stock like visa paying only 1% dividend yield maybe it's time to just take some profits in names like some
growth name that got hit today >> all right, brian thank you. we're talk about this. does this stock look vulnerable to you >> i think so. it's a process you have a lot of stocks in 45 degree ascent and then you start to lose one then another then it starts to roll others persist starbucks is still staying firm. then you see cracks in those that persisted that's what we're seeing we saw that in market action, mcdonald arbitration in amt. the last hold out, the money gets nervous and ultimately the big ones, the biggest one, visa, microsoft, mastercard. why can't they give back stocks have a way of giving back >> but if you're a believer growth is still the key to this market is that where you want to be >> been where you want to be specifically visa and mastercard visa trades 30 times >> is that where you want to be?
>> a logo. >> advertising really works. >> i don't think it does it's another show. mastercard 31 times. at certain point valuation matters. go do some homework. we've some moves to the down side a month or so prior attorney general's in a lot of these names. people get jittery maybe it's too expensive visa reports on halloween. there's an opportunity to buy this stock cheaper but it's a name you want to own in earning through the end of next month. >> i'm long on mastercard. normally something in the mid-30s pe, doesn't really thrill me. but, i mean, the growth is there. they execute they have less international exposure stronger dollar is better, less worse for mastercard than visa >> two things. early part of the show, i think we said this here too this stock, visa aend mastercard fit
in that low momentum and won't perform if you believe there's a structural rotation going on in the market not that this is material for apple. one of the drivers for apple they doing about a billion transactions a month bring it back to apple in places where they should compete and there's more pressure on electronic payments on paypal, visa and mastercard from non-incumbents >> for more "options action" check out the whole show this friday at 5:30 wendy's is waking up and smli telnghe coffee. why shares are take a big dip in the after hours action we're back in two. ♪ ♪♪
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deal they plan to hire 120,000 people the expansion could reduce it's 2019 eps estimates by 6.5% and give more detailed guidance in a matter of weeks at this point. >> this reaction is interesting because mcdonald's, all day breakfast, a massive driver for the stock. while i don't know i would be going to wendy's to order but i do think this is ultimately about these companies trying to deliver using the same synergy and the economies of stale they have >> once upon a time this would have looked at investing in the growth area of the market. here we are down in after hours. >> how about the fact wendy's is expensive. it's come a long way as has so many of the restaurants. maybe it's not the news. it's up 30% in the last four weeks and a little high. >> hasn't been fallow.
>> i looked that word up on the internet >> wendy's chicken sandwich. >> terrible job but then i did a little mea culpa if you order on the dollar menu. >> so from feeble to fallow. if you like wendy's you got to like mcdonald's. i'm more inclined to get an egg mcmuffin than a wendy's sausage in the morning >> i hope that's not why they are hiring 120,000 people to launch >> igv to the down side. >> boeing, i think despite these concerns today we talked about it, probably not the headline that really is the fundamental story for this stock certainly about 737 max and legal. >> karen >> so at&t, have a chance to get in right behind an activist investor who probably doesn't do
anything super aggressive but do good work. i like at&t. >> the move in blackstone has been remarkable. not talked enough about it, i don't think. but something is clearly going on >> that does it for us se "mad money" 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 ploromise to hp you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica people want to make friends, i'm trying to make you money call me at 1-800-797-cnbc. nasdaq decli