tv Fast Money Halftime Report CNBC November 14, 2019 12:00pm-1:00pm EST
sachs. >> and coming up in the next half hour with scott wapner to respond to this. it's a television interview you do not want to miss. meanwhile, taking a look at the averages, taking a breather. dow down 68 point, s&p down 7. walmart despite better than expected earnings is going to turn negative as well. that's it for "squawk alley. we'll send it over to wapner and "half. lee cooperman coming up in a few minutes. i'm scott wapner, apple, walmart, disney making headlines today. do three of this year's best trades still have room to run. it is 12 noon. this is "the halftime report." darlings of the dow. a beat and a rise for walmart. big price hikes for disney but a rare sale goal for apple a growing wave of optimism
signals that are pointing up wards and onwards for stocks and the backlash against billionaires, elizabeth warren launching a fiery ad targeting leon cooperman and other individuals. cooperman joins us to fire back. the investment committee is ready to go. "the halftime report" starts right now. welcome. good to have you with us on this thursday our investment committee, joe tearerranov terranova. and the brothers and the walmart retailer beat and raise quarter, stock opening all-time high today. joe you've been making a cas for this one, you own it >> i do. >> and under review. all of the news, the good news is priced in i think walmart is trading a little disappointedly today. still own the stock, i'm going to see in the next couple of weeks to see if there's something i want to do a tremendous amount of positive
news, they're separating themselves from the gap, the macy's, brick and mortar retail names, they're succeeding not only online, grocery has been very strong for them the ability to drive up and get the grocers. so, it was a great quarter, but i think the news is somewhat priced in. >> that's an interesting take because target's on the other side if eye want to have that conversation, let's do it. pete, you own target >> right >> everybody knows that at this point. >> stock has put a double over walmart has done year to date, right? 68% for target 32 for walmart >> right >> is the best priced in to target as well >> no, and here's why i say that when you look at target, the difference right now, the earnings which we looked at which were fantastic to joe's point. this is a $125 stock after released now obviously, it's pulled back five bucks part of the reason is, it's a great quarter. they did great with e-commerce,
they did everything right. they really did. you got to give them credit. but they've invested 20 plus billion dollars to get to that point. it's a great thing but cost them a lot of money on the other side, you look at target and you say for $550 million, you bought shift a couple years ago that's put them in the e-commerce world as well logistics. they spent a little less they spent a lot more on their stores and when you break down these two companies, time and time again, i brought this up, when you look at walmart, it's fantastic. they're going right at amazon. 55% of your revenue coming from an extremely low margin business, that makes it a lot more difficult, right? when i look at these two companies, one is parading at a 30 multiple and the other one a 17 which one would i rather own now? for sure the 17. >> this desk has voted pete owns target, brenda owns
amazon joe is the only one -- >> it's been a great hold. >> you can't say it's all to your detriment because you own target the stock's, as i said, put a double on but no walmart why? >> i don't own walmart because just didn't see -- i don't want to say any edge. i like to see growthier companies. it's a phenomenal company. they've executed flawlessly. i agree completely with pete's analysis i didn't want to be who heavy in retail i also own amazon and visa which has a relationship to retail i didn't want to get too much there. there's nothing wrong with owning walmart the strong keep getting stronger and that will be walmart however, i think there's much more upside in target. cornell really hasn't been there that long. the company was not in great shape. it wasn't in terrible shame, or
great shape when he took over. >> it was close to terrible. >> well, they had the canadian issue. >> right, right. >> he's done a great job and turnovers don't end like this, continuing to bring in, take in market share online still very much a presence with them. i agree complete with with pete. i think there's more performance to come out of target, than walmart. $120 billion a quarter in sales. zbrts a monster. >> it's unbelievable >> i'm sorry, doc, go ahead. >> i was going to say real quick, scott, one of the things on their plate is the new partnership with apple for the siri being able to order groceries with your voice. >> on whose plate? >> walmart it shows how much the jet integration is working this is a tech play of sorts i'm not saying pure tech, scott. because of what they're doing with jet and what they're doing with apple they're moving a
little more into tech which makes me more excited about the company. >> but you don't own it either >> i don't own it either one has a 17 pe and the other 29 walmart is 29. >> brenda sounds like a game of four as long as you're in costco, target, walmart or amazon, you're good. if not, you got to worry >> i think there are other places to be >> like what brick and mortar retail. >> without brick and mortar retail, strong exposure. steve mentioned visa we get to benefit from that. >> that's a derivative play. you choose dto be in amazon over target, why? >> because that's a place we see
happening, online. walmart is now competing quite nicely with amazon we continue to think that amazon is going to benefit with online retail and continue to be a winner >> here's an interesting thought from jim cramer earlier, how could you not own walmart and disney for that matter which we're going to get into in another second because it hits a new all-time high. fair point >> absolutely. >> it's going to drive money into shares, no? >> indeed. you mentioned four names they are what we classify in retail as haimar market retailers what do they have? they have the ability to negotiate with the suppliers because of their size, because of their scale that's the distinctive advantage that they have walmart, where it sits right now needs to improve on one thing. pete mentions margins. general merchandising is a higher margin sale they need to see some strength there. right now the strength for this
business is 41% e-commerce growth and a significant capture of market share for online grocery. walmart controls 25% of the united states' online grocery sale market. that's a lower margin business they have to improve on general merchandising. didn't mean they're going to sell it as i said, it's under review, it's probably in a right place from a value proposition >> i actually made a mistake i made it a game of five instead of four, because of best buy my apologies to best buy intref is. >> i'd rather own nike than walmart. >> we're making the same point, it's a very selective group of retail you can own >> without a doubt without a doubt. you've got to own a brand like a nike and a good brand like an
under armour you've got to have the ability to invest online like a target, like a walmart >> and best buy, too >> right let's not forget, best buy was supposedly going out of business because of amazon. look at what they've done. >> unbelievable. >> doug mcmillan, he's the ceo of walmart he's on next week. calling the network with us, a big event we have out on the west coast we're looking forward to hearing in doug mcmillan you guys giving up of these props to cornell, doug mcmillan deserves that. >> without a doubt stock downgraded to a sale, target, 190. i'm quoting from their ping. proprietary survey data and analysis lead us to expect 14% below consensus iphone revenue in the fiscal quarter of 2020, 6% below for the entire year of the fiscal year. all of this optimism about iphone, right? new-found optimism because of
reports of orders and production and stuff like that. and yet you have maxim throwing cold water on that, what do we do with that for another stock that's at an all-time high >> i appreciate the viewpoint. we see so few sell recommendations. i don't believe that iphone -- we're not going to know because they're not going to report units anymore. is going to be the great thing that everybody sees. it's very difficult to do the channel checks on these companies so i'd be curious about the information. again, i'm not going to sell it because i'm going to have to pay taxes on the sells i think the 5g cycle is the biggest upgrade not just for them but i was reading reports yesterday, qualcomm sees it as $12 trillion market. >> at what point is that in the stock? >> it's not in the stock because they haven't even launched >> i know, the stock is on the
way, it has even in the face of questions iphone, because of 5g expectations? >> no, not at all. >> i suspect that it's accumulation story you mention lead names that you would holdful you were in a mutual fund. disney, walmart, apple apple is the one name that i still see as being significantly about calculate accumulated. institutional holdings of walmart fell in january by 60% money managers are still out there buying into apple and that's the one name that's going to give you the exposure if you think about it what has apple done fundamentally this year that is distinctive versus private year i would argue not very much. it's more about apple performing >> it's a stock performance, not the company. they've had revenues, down earnings it's going to brand names. that's one of the brand names they're going to >> i think there's been
distinctive things happening with apple since this time last year, the company report they had were no longer going to report unit sales of iphones and gross margin grew sequentially so it suggests there has been a little bit of a change you know, silences some of the naysayers out there. with regard to the multiple, it's trading premium to the market but i would say that's where it should be trading, likely, relative to the sizes of the company and health of the company. >> analyst is coming up, pete, on "the exchange," right >> right >> what do you do with the call? >> i appreciate the call -- >> what do you think about it? not appreciate it. >> i'm trying to be as kind as i can. >> you don't have to be kind >> it's an analyst who had a hold on a stock put it at a sell with price trading at 2 extinct.
260. i'm trying to be as kind as i can by saying, wrong, wrong, wrong. as soon as that iphone dropped at 50% of the revenue, right around the 50% that was a big game changer for me because it finally got some of the analysts to start looking at something other than the phone because i don't think the phone has been the story you got to go with where the phone is, the growth in ai and services -- >> you still have to have some level of growth in iphone. >> and they do -- well, i think that will continue to slim more than you guys maybe think. but i think the idea of when you put services and the wearables together and you got 20 plus percent in services, ten plus percent in wearables, those are growing and it's better. >> but you still need phones. >> i get it, i get it. yes, it feeds the whole thing that we talk about all the time, the ecosystem.
>> can i give you the psychology behind this call as a former research director? >> go ahead. >> the researcher comes to the analyst saying look you got a hold on the stock, you got a price of 190 you either have to get auchl the ho off the hold or go to a sill there's significant downside there. that's where i'm guessing drove the analyst to come out with that sell? >> as monster says services are at the core of apple >> i feel like i should be laying down on the couch >> the psychologist of the call. >> the psychology of the call. >> you know what they pay for that insider call like that? >> judge, it's the multicameras, the three cameras set on the highest end phone that's causing a lot more data to be stored on the phone, can't handle it so
they got to put it up on the cloud. that's additional revenue for apple. full stop. end of story is that is growth in an area as pete said they have their best margins in that. let's kick disney. it's a widely held stock on this desk big day, disney mrplus, obvious, numbers coming out yesterday at least get an idea of where they're going. >> they lived up to the hype >> right they exceeded it >> even as the stock had sort of taken a downturn going into all of this, all of those fears are over now >> you restarted -- >> i remember say be she was lightening up on the position because the stock had say big move and then it looked a little broken there, now, it's back on track. >> so i would categorize it more towards my thinking with walmart than my thinking with apple. walmart, i'm suspecting that it's priced in apple, i think, could go higher
further. i would say disney, i'm concerned that this might be all the good news priced into the stock, where it sits right now and we're not going to get much more out of it >> okay. >> to your point, you basically restarted the excitement, the momentum that you had five months ago on the announcement of disney plus earnings were solid. but i just kind of feel like it's fully priced. and to me, you really have to be able to -- and you're getting a lot of subscriptions are free. you have to hit that 90 million sub-mark in the next five years. and the real momentum is going to come in the bundle. the bundle is where i think disney is going to be very successful combining hulu, espn. >> if you're a verizon who is getting it for free for a year >> 19 million. >> what? >> 19 million. >> but that's the hook, what are you going to have it for a year and then cancel? >> tell your kids, hey, i'm sorry, no more disney plus a kid, even a 3-year-old is
going to say, are you kidding me for six or seven bucks you're conduct me off >> 163 at credit suisse. 160 at jpm outperforming respectively on their calls. pete >> my opinion is this, i think the stock make the break threw that we're talking about a 10% move that's about what we got on this absolute screaming moved to the upside yesterday. my suggestion to a lot of people was kind of what joe is saying i don't expect necessarily a pullback nor just a flattening out for a while and basically gathering itself i think the reason to say that i think the best way to react to that i can sell december 150 calls against this right now and get close to $4 last night >> a little options action >> a little options action i can hold on. you're holding the stock you're selling the calls you don't expect to go through the 150. that's why the 150s are
comfortable to sell. scott, you're talking about the content, it's the content they already have that gives them a huge edge when you're talking pixar, marvel, hulu, "star wars," all of this stuff. they have so much that helps to maybe keep people around don't forget, a lot of these are free seven-day members as well >> 35%, brenda, year to date, do you agree with joe that a lot is priced in, all of this optimism? >> i think there's a lot of good news priced in when we look at it over the longer term, i agree with pete's term they have content unlike any other. somebody told us the other day that their kid fell in love with peter pan. that was created 60 years ago. it's content that's been around a long time and it still resonates with young children. anybody with young children in their house is likely going to be compelled to subscribe. >> that's a powerful word,
right? compelled, compelled >> right, i just -- >> -- to buy this service. >> i just want to point out if you're a verizon subscriber of any sort you get five days free. if you sign up for in-home fios, their internet in your house, and you sign up for that for a year, they'll throw in disney plus it's not every verizon person out there getting this we'll have to see how many of these folks who get the five-day to pete's point stick with it and how many people upgrade to fios it's not the easiest thing to get. in new york city, you can get it in a lot of other cities, fios in your home is a very difficult thing to get i think this is a tougher move to make into that 90 million subscriber number than a lot of people are thinking right now because they're thinking oh, it's free. they'll be able to get there >> i don't think they'll get paid for getting the free 90 million subscribers. first of all, sigh agree with
joe. doing such a good job previewing the service, it's not all that surprising they picked up 10 million when you think about it. the great thing about it is iger set the bar very low he gave you a long-term target of 90 million subscribers, i believe he'll get there over time he doesn't expect to make money for the next few years, that's also good. as long as they keep the momentum for signing up subscribers, the stock should be fine i'm not even sure it gets to 150, i hope it does because i own it but it's 135, or 145 >> let's go broader, we kicked around three important stocks. are you still lightening up overall? >> no. >> you had taken off exposure in the smh? >> i took off the smh and the sbi. >> that's your thinking overall? >> well, i had a decent size
position in marra source bergen. walgree walgreens, they own 26% of amerisource bergen wouldn't you want to take 5 billion? >> right but there's a difference between buying into an event-drive stock? >> right >> versus a broader view of the market than is the mh gives you? >> absolutely. i still own the smh. look, i think the market is fine here through the end of the year, maybe we get in a few percent, that's fine i don't think i sell right now, it's been a good year. and pay taxes. i do think -- >> premiums aren't what they once were either because of the volatility in the market coming down so much
talk be a 12 or 14-point range for the vix. scott, you just aren't getting paid the way you like to be paid to sell the calls for the upside >> my biggest concern is phase one, does it happen? i think it makes so much sense for the chinese to do it and i think they need a lot. they have to look at the economics coming out of here and what walmart said. their consumer, not doing so well so it's in their interest, particularly with all of the unrest in hong kong to get things going there i think the deal is still and i think trump needs one. >> i think we're at the point at the end of earnings, you looking and saying possibly could i be wrong. talking about financials i have heavy exposure to the financial sector please, i think financials continue to move high, but i just had too many names. so i did sell out of the
majority of my american express position which i've hold for 18 months >> probably sold it to visa. >> i got out of visa and went to american express the huge move, i thought the 13. e, very low pe on american express made sense when i look at their stock buy, scott, made it interesting to me 25% of stock has been brought back in five years >> did you -- >> i actually bought stock -- in visa, i owned both i owned stock and got out of it, i put it into calls and now i'm out of that. >> you're going to get your 8% to 10% revenue growth. you have to look at your holdings and question yourself where is the underperformance. there has been underperformance for american express relative to financials since july. so, i think that's an important exercise, i also sold out of
cintas, an industrial. you're looking at with now reported earnings, what's been the price performance result thereafter has there been underperformance? i think that's the right argument where you are at the end of the earnings season it does not in any way pretend that i believe that the market is is not going to continue to move higher because i believe it will i believe that's a fair process. let's get the headlines. >> hi, scott here's what's happening at this hour at the house briefing this morning, speaker nancy pelosi said in a breakthrough with the trump administration on the trade path with mexico and canada could be imminent and she wants to pass a deal by the end of the year. >> we're moving positively in terms of the u.s./mexico/canada agreement. i do believe if we can get this to a place where it needs to be which is imminent that this could be a template for future trade agreements
clashes between iraqi protesters and security forces in baghdad killing three people and wounding many more and a man accused of fatally stabbing another man in a pifig over a popeyes sandwich has been arrested ricoh mcclain was arrested after davis was waiting to order food this is the cnbc update at this hour >> appreciate that coming up, lee cooperman joins us live to respond directly to senator warren's new well tax ad. that's in two minutes here on cnbc's "halftime report. mini is a different kind of car.
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>> ville fification of balance they're billionaires makes no sense. >> that's an ad of elizabeth warren that targets several prominent men including lee cooperman. mr. cooperman joining us live by phone, lee, are you there? >> i am. >> you've seen the ad. you wanted to respond to it. now is your chance >> well, i don't know if i should respond i'm just giving more credibility by speaking out, but anyway, that's my nature let me first thank you for the opportunity to set the record straight, even though, frankly, you're indirectly responsible of my emergence on the political scene. as you know with the recent alpha conference you asked me what effect a warren victory in november of next year would have on the market and i responded down 25% i notice that jones had similar
jones, stevie cohen had a similar view they're much more astute than me and warren is a politician in the worsens of the word. to respond to one of their pithy tweets, i quote, leon, you were able to succeed because of the opportunity this country gave you. why don't you pitch in a bit more so everyone else has a chance at the american dream, too. that shows to me, demonstrates to me that she knows as much about me as the wealth tax i agree i've lived the american dream, okay? and my family and i and grandchildren included are all about helping out. when i took the giving pledge, the buffett gauge giving pledge years ago, i told warren buffett it was the plan with the agreement of my family to give away all of my money at death, we've created the cooperman
college scholarship. for 500 worthy kids in newark. we've made similar gifts to colleges in new york >> right >> and columbia graduate school of business. two institutions from which i hold a degree. those three programs alone receive $100 million support i consider myself extremely lucky to be able to do this. i'm a philanthropist with a small p when i think of others like manknown and jeff bloomberg, on and on and on. >> let me say this, maybe counter with somewhat some on the other side in agreement with the senator may say. that this overall issue, lee, is not so much about your generosity everybody agrees -- >> i agree >> everybody agrees that you're a generous man, you've done a lot about the wealth >> it's not about me forget about me. >> i'll say in general, this is not about those who are
philanthrop philanthropic, it's about a system that has enabled people of your level of wealth to get that wealthy in and of itself, when those at the -- either at the middle or at the bottom can't seem to grow their own wealth in any substantial way and that those at the top are growing theirs exponentially larger than those at the bottom are. their wages are stagnant their ability to -- >> is that the result of wealthy people or is that the result of problems in the system is it a result of a poor educational system what are the causes? i don't know, you're raising issues beyond my scope all i know, in any society, okay, unless you hit the lottery or unless you inherit a lot of money the only way you became a billionaire is by providing a product or service that the world found valuable do we want to penalize success,
is the world a better place because of bill gates, michael bloomberg, i say unequivocally, yes. it's not because we don't have problems but what i've said repeatedly, i'm prepared to work for the government six months of the year every year and work six months for myself. that's a 50% tax rate. i believe in my heart in the progressive tax structure. that the richer people should pay more i said that on your program seven years ago, actually it was on "squawk box" to get rid of the irs code that allows guys to roll forward on tax gain do something with the overall tax rate wealth tax makes no sense. it would be near impossible to police and is probably unconstitutional think about it in the real world. you're a farmer, you're a
manufacturer okay, you have your own business all of your wealth is tied up in your business. are you going to hide 2% of your business every year to pay the wealth tax it doesn't make any sense. the main beneficiary will be gold, people will hide their wealth by doing unnatural things i really want to set the record straight i determined it would be helpful to explain my issues with her advocacy, i wrote her a five-page letter that has received universal acclaim an old professor of mine said it was an a-plus letter her response, nothing about the letter prior to that i own the stock in navient. my letter was respectful and hopeful that we could work together with the many serious problems our nation faces. income disparity student loan debts, health care
coverage, crumbling infrastructure, et cetera, et cetera let me read for your audience, my concluding paragraph in my letter i am a registered independent to vote the issues and the person, not 9 party. the fact is, senator warren, despite our differences we should be working together to find common ground in this vital conversation not firing off snarky tweets that stir your base at the expense of accuracy. let's elevate the dialogue and keep this a land of opportunity where hard work, talent and luck are rewarded and everyone gets a fair shot at realizing the american dream hardly combat tiff, very conciliatory what was the response? basically, the navient response. >> you know, this is stirring her base you, i know, as you referenced at the top, have been urged by some of your friends, very prominent people, i'm not going to mention any names, to not engage in this back and forth. >> yeah, absolutely. i got emails on both sides
>> i know. >> i have emails -- look, it's my nature. i got an email from somebody i respect who said do not let her get away with what she said about this inside trading crap, okay her response raises some old inside trading allegations i want addressed, by the way, resolved some time ago with no guilt and played a videotape that i got upset on one of your recent programs because i was so upset with the dialogue she was pursuing nothing to do with paying taxing let me tell you what my attorney said, okay i entered into what is called a no admit and no deny agreement that means i can't say i'm innocent, i can't say i'm guilty my attorney said to me, my attorney said, congratulations, you won, anytime you go along with no admit and no agreement and no time-out, the defendant won.
personally, i didn't think i won anything my attorney encouraged me to accept the agreement because it would tie knee up in five years and legal fees if it was like the uk where the losing party pays i would never have settled if senator warren wants to do something specific, tackle read the letter she criticized the wealthy because she understands there are more poor people than wealthy people so she appeals to very base instincts. that is not the america or the leader of america that i want. okay 25 years ago, i was honored by a charity. and the guest speaker was jack kemp at that dinner, he said the america i grew up in, people don't hate the wealthy they want to be them, okay her idea to come under heavy criticism, forget me, criticism
that's totally unrealistic "wall street journal" ran an editorial, warren has a fantasy plan steven ratcliff wrote in "the new york times," the warren way is the wrong way sanders, i quote him, her numbers don't make sense these comments remind of will rogers, the famous satirist and commentator. if we got one-tenth what was promised in the state of the union speeches there wouldn't be any inducement to go to heaven she's peddling a story that makes no sense today >> "the new york times" today, the bhawharton school of pennsylvania have come out that a wealth tax would cut growth by an average of 0.1% there are certainly those who believe it's not a good idea, it would hurt the economy you have people on your side who
agree with you -- >> i cannot tell you who's against me i'm worried about the equity people pay their taxes along the way. i think currently federal income tax rate is 37%. the tax on investment and dividends and north carolina is 3.6 on obamacare then you have another medicare tax, i think 90 basis points fica, 6.65%. we've paid tax along the way we obeyed the law. basically, she wants to change the law. i don't think it's constitutional, by the way it's going to lead to unnatural actions by people. >> let me ask you this, he's not obviously the only one who has engaged in this debate back and forth what some want to call a war on wealth. robert rice, former labor secretary -- >> another -- let me tell you if i told you some of the things he said, i can't find the quote >> i'm going to say it for you
he tweeted the other day i'm quoting here i want your response to it there are basically five ways to accumulate a billion dollars in america. one profiting from a monopoly, two, insider trading, three, political payoffs, five inheritance, none of these in the supposed free market that's what will he said >> i don't want to be derogatory but i happen to be very friendly with bernie marcus, the hardware business is very get icompetiti, lowe's is very competitive with home depot is home depot a monopoly no what he says is totally -- it's ignorant to the facts and this is a professor of harvard. that's part of the problem, 40% of the millennials, to my understanding, think that socialism is part of capitalism.
the reason they're exposed to all of this crap at the college campuses is from these left leading professors, you know, okay, so i don't know, i'm uncomfortable in this position i think her ideas are wrong. i was really addressing the approach she takes i don't even think she's read my letter she's never responded in any substantive fashion to what i wrote to her and i spent a lot of time with additional help of my firm to write that letter. and i have a few questions for the good senator how many months a year do you want to work for the government? and how many months do you want to work for yourself secondly, what is your effective tax rate last year third, i congratulate you on your financial success but i wonder how a college professor and a politician can accumulate an $18 million net worth i'm interested in learning, complain it to me. in the closing paragraph i sent to you, let's work together to solve the problems and stop with
the pithy, nonsensical tweets. as a former classy first lady michelle obama said, when they go low, we go high i try to stay on the high road if you keep up with this baloney you that put out there, i'll be forced to go high road i'll ask you, why did you lie on your texas bar application, 1986, okay why did you lie on your application to harvard and university of pennsylvania when you applied for employment saying you were american-indian heritage we don't need another fabricator in the white house what we have to do is work together be serious students and understand i have no problem paying higher taxes. you want to move me from 50% to 37 and that's the country, that's fine there's no better place to live than america whatever taxes are asked of me, i'll do whatever i have to do. you but your attacks are
directed to the wrong person and on the wrong issues, as you said, scott, i'm not there alone. i have a lot of company and i really don't relish being in this position. i don't need the notoriety, i don't need the visibility. i want to be left alone. i got one jegenius, i got 400 se emails, one guy said, if i knew where you lived i'd put a bomb in your car. >> you have gotten some threats? >> it's your fault it's your fault. >> i didn't put words in your mouth in delivering alpha? >> no. it's your question let me tell you something, if elizabeth warren wins or bernie sanders wins, the market goes down more than 25% >> oh, yeah. >> market is assuming that the current president wins again i don't think it's a shoo-in nor should it be a shoo-in i have issues. i have plenty of issues, you got
me until trouble with warren, and now you're going to get me in trouble with the president. i talk what i believe. and that's it. i'm sorry, you go ahead. thanks for giving me time. >> i'm certain she's going to, if she's not watching this live, she's going to find it and she's going to see it and respond to it then what are you going to do? >> i'm going to do nothing i've said my peace i've said my peace listen, i said this before, i'm a philanthropist with a small p. i'm very lucky, i went to public school, '75 in the south bronx, high school in the bronx first generation of my family born in america. my father came to america from poland at the age of 13 as a plumber's apprentice he died carrying up a sink in a tenement building in florida
where he was working and basically, in retirement and i've done very, very well. i'm very lucky and i'm going to give it all back she has fault with that, that's her problem. not my problem i'm at peace with myself that's it. i'm done you know, what's happened -- actually, it's nice news, though i work for free. people don't pay me. so cnbc, bloomberg, cnn, fox news, they're all calling me you know, i don't need it, i don't need it. i don't need the visibility. i tell everybody i'm like the guy in "godfather" hymen roth, right before they shot him at the airport. he said i'm a retired executive living on a pension. i'm a retired money manager living on income my greatest joy in life is my grandchildren living purposely
and i'm growing old. that's it. >> lee, let's leave it there >> next time we talk, we talk about the market and stocks we like we're not going to talk about politics i'll go on record, if this lady wins, we're in big trouble >> i'm going to make that the last word. lee, thanks for the time >> my pleasure >> bye-bye >> that's lee cooperman. by the way, we have a couple other interviews you don't want to miss. mark lasry, the chairman and ceo of aftverman capital and tuesday, lloyd blankfein who is called out in this new ad by elizabeth warren, he has responded on twitter already let me read that to you now since he's going to join us next week lloyd blankfein tweeting surprised to be featured in senator warren's campaign ad
given the many severe critics she has out there. not my candidate but we align on many issues. villefication of a people could be good for her group. maybe tribalism is just in her deane. that's lloyd blankfein on twitter. we'll hear in him next week. to phil lebeau with the news alert. scott, every year "consumer reports" asks its members, rank your vehicle, tell us what works and doesn't work the new report has just come out, lexus, mazda and toyota are rates at one, two, and three as the most reliable models according to "consumer reports." the bottom three, cadillac drops to the bottom behind alfa romeo and acura. when you take a look at records of tesla, tesla to its recommended model 3 and s
according to "consumer reports." the reliability has improved >> tesla ticking a tiny bit lower. still higher by 1.5. options with an opportunity in the consumer jon and pete have new traded for you. first,dom chiou has a look on "the exchange. >> we're officially in the longest bull market in history one of my next guests says we're not done yet he tells us why and where he's putting his money. and key for executive firms. and a top executive slowing adshe at google's chrome books that's on rapid fire i'll see you on "the exchange. u. with value like this, there are zero reasons to invest anywhere else. fidelity.
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welcome back we started again >> back on air options traders are betting on this retailer ahead of the holiday season jon and pete are at the telestrator. >> didn't quite make the telestrator. >> he's been all over the place. >> i've got just one bed bath and beyond. what i like about what we're seeing now scott this is one of those names when you look at short interest, it's
astronomical 50 plus short interest so short squeezes seem to play into this. they're buying november 29th expiring so the last week of november, those are the call kuos they're buying, the 14s when they started buying these, the stock was trading 13.5 this were they were about 13 to 45 cents large numbers, 5500. we'll see what happens the rest of the day >> where's the new ceo from. >> tart. >> doc >> gmtx, scott this is a december play. p they're buying the 30 calls with the stock a little over 28, 28.5 they bought these in big in your opinions 6500 right wii way paid from 25 cents up to 45 cents for these so i like the risk versus reward on this one a lot. i'll be in these trades almost a full month second one, take a look at cse this one we highlighted just a couple of weeks back when they were buying december 28 calls and the stock was at that time
the 28 bucks ran to 37. now they've taken profits, immense profits on that trade and they're buying the december 40 calls for 45 cents so i really loiike that because i'm following somebody b who's been right time and time again and they're picking another higher strike o. i jumped on those to>> final trades straight ahead
let's answer your questions now. joe, you first we're doing paypal robert in england says thoughts on that the payment sector with companies like google juching into banking >> i purchased it in the wake of the october 23rd earnings. i like d the 25% increase in payment volume additionally, go pay was an acquisition i thought was a strong one that's a chinese payment platform so those two conditions, rb reason i stepped into paypal, i will will be somewhat impatient with this position i'd like to see it begin to accelerate a little bit more than it has and if it does not, i would take a look at -- >> you're getting impatient with a lot of names today but you said that's not representative of your overall view of the market >> it's not, but i think it's
good to question yourself specifically >> explain earnings. >> it's good to look at the performance of stocks. how to they respond to earnings. i think that gives you a fair understanding of what's priced in and what's not. pete said i took money from here to put it into american express. that's the question i'm asking myself because to your point, i'm favorable on the markets >> have you answered yourself yet? >> if i'm going to come out of disney where can i find a commu communication services >> slide over here b and answer it >> i'm going to out at walmart where am i going to go >> why you asking me you're asking yourself what's the answer. >> what's the answer >> the process for the viewer is very important you have to find if you're bullish on the market and you're going to take money out of u a specific sector -- >> what's the answer >> a lot has been in recent days, boeing >> bing. >> i'd have to find some other opportunities behind that. >> okay, thank you we made it >> explaining a process. it's good. >> if you're asking yourself a question, i expect yourself to
answer it. right? is it just me? >> the truth is, he doesn't need you. if he's asking himself and answering himself, he doesn't need you >> that's true you guys can figure it out jon. annie in texas, buy, sell hold >> they pete and raised last earnings, october 30th i would hold on to it. >> steve weiss gabe in north carolina nvidia going higher or lower. >> look, the stock's had a great recovery after last quarter where it was better than the prior quarter where they missed. i think over time, it's going to go higher. i don't look at it as particularly expensive got more than 30% earnings growth it's 30 times. so one pick seems reasonable i think there's so much momentum in it there's no cushion, so i'd
rather wait for a pullback >> more earnings after the bell tonight. >> right >> so you may get that opportunity or it might jump from you take the risk. pete, max in london. bio tech what names >> big cap names biogen with the alzheimer's drug possibly coming down but i'm not in any of these names. the only one that's close would be i'm not going to put pfizer in there, but merck. i stick with the big pharma n e names, but i think there are some great names out there that traded extremely cheap pe. >> brenda from new york city fis. fis. >> recently established position in they got global pay. >> my dad. >> fidelity national information services they bought world pay. just announced the synergies are are going to be better the piece of the story we really like is that regional banks have understo underspent on technology so we think going to be an area of
future spending. >> fed eck >> taiwan semi >> nvidia. >> guide wire software up to new high us. >> i was waiting for you to ask yourself what your final trade was. >> still talk iing to himself >> a few companies hemt care, yes >> good stuff. thanks for watching. >> thanks for that welcome, everybody here's what's ahead. a rare call on apple today as one analyst cuts the stock to a sell rating. we'll talk to him about the risks he sees as the stock hits all time highs plus sh, it's officially the longest bull market in history, but are signs emerging that we could be starting to get a bit frothy we'll explore that topic and who knew there could be such big money in a product at the low, low price of free. but we begin with today's markets and seema with all those