tv Fast Money CNBC July 16, 2013 5:00pm-6:01pm EDT
out the stock took a hit and now you're looking at a decline of 1 and a half% in the extended hours. rest of the market, no great shakes, pulled back from the record highs yesterday but fractional moves, a lot of people waiting on ben bernanke's testimony on tapering. that will do it for the "closing bell." "fast money" begins right now. have a great night, everybody. >> live from the nasdaq market site in new york city's times square. i'm melissa lee. we'll get to the fed in just a bit but first our top story for tonight. tesla. we led the show with it last night as you recall. is the best trade of the year over? the stock having its worst day, plunging 14% after a bearish
call from goldman sachs. our traders were definitely not expecting that to happen. listen to last night's show. >> i think there are reasons why you could be bullish on the stock but i could not own the stock itself. i would only own this through options. >> i actually bought it today. we have been bullish. you can't fight momentum. >> i think you buy it on dips. >> tesla, mentioned it before, tesla. >> that was grasso's final trade last night. so yesterday it got added to the nasdaq 100, ramped up prior to this, sold off yesterday. you might have thought it was poised for a bounce in today's session. >> it did. you can't look at this in a vacuum. you asked the question about a month ago, i think josh was on the desk is tesla shortable. the stock was in the mid 90s. we said as long as it holds the secondary price the stock would be fine. you say is the trade over. i don't think it's over, it's
taking on a new dimension. these stocks work better on the downside than they typically do on the upside. clearly the stock got way ahead of its skis. volume yesterday was tremendous. to me that signifies reversal. if you don't need to trade it don't but if you are looking for a high bid trade, yeah, this could push lower. >> momentum, it can work to the downside better. in that the downside momentum could be stronger than the upside momentum? >> we all can speak to that. things go down quicker than they go up. >> guy, you're 100% right. stocks take the stairs up and typically the elevator down. in this case it took the elevator both ways. here's the thing. how much of that downside momentum did we compress into one trading session? they just lost 20% of their market cap in a day. >> doesn't is that show you how
many people are uncommitted holders of the stock. >> yes. it's on a day-to-day basis some institutional holders willing to stick it out. nobody was paying 130 for this thing thinking it was a value. everyone understood what was happening. with tesla, keep in mind, still had a quarter of the flow short. haven't seen a lot of covering just yet. i would guess probably sets up around 100 for a bounce. the question is what kind of investor are you. if you are not nimble, in front of the screen 9 and a half hours day, don't play this game. >> the people that own this stock -- i agree but ultimately the people that own this stock don't know what they're holding. if you look at the valuation -- it's a tough call. it could be 100 or it could be 20 times. it could be a stock that could deliver on these numbers but right here the people that own this stock and know it, no way. that's not enough. >> let's talk about
fundamentals. goldman sachs, part of the reason was this goldman sachs note. they raised the price to 84 bucks a share. they also laid out three scenarios. the best case scenario got goldman to $113 a share which is about 11% below where the stock closed in yesterday's session. karen, yesterday you were on the show. we didn't show you in that clip because you didn't want any part of it. >> right. >> today you are in the trade. >> we talked about it in the middle of the day and it was already starting to completely unravel. i said i'm out of the money, july puts, this is not a trade i would put a bunch of money in because could they be zero, absolutely. for sure these could turn out to be zero but i thought when you have this broken momentum trade who knows. goldman came up with three different valuation. who knows at this point? it's really made up -- not that the numbers are made up but the valuation you make it up so who
knows where it could go. >> we did call steve grasso for a trade update. >> did it go to voice mail? >> no. we e-mailed us back and said he did add to the trade, the thinking of when the stock goes lower this sharply it usually has a huge bounce back and i think people are wondering maybe this is the chance to get in on that momentum trade that i totally missed out on this year. >> it traded 33 million some shares today. the stock did reverse yesterday. if you are looking for the opportunity -- i'm not saying it's going to happen but we've seen this scenario before. once that momentum is out, things get a lot diceyer than people think. you don't need to trade this stock, but if you have the t word, attempt airty, i think this will go lower than people think. >> i'd like to add two things to the equation here. first of all it's notable and i think karen would agree, goldman
sachs has been the earliest and biggest backer of this name. for goldman sachs to be the one that comes with the knife in its back after being added to the nasdaq, it definitely got some people to sit up and take notice. it's not just any firm. that's first. second, they are not going to own this business to themselves for very much longer. bmws i 3 hits the road later. mercedes is launching the b class. i don't think you can look at tesla in a vacuum. you have to look at a lot of other elements. >> two things, arch bald down graded. that is the goldman sachs analyst. jpmorgan was out two days ago at $65 on the stock. they're not the only bears out there and jpmorgan is neutral at 65. >> let's go to mike khouw, what did you see for tesla and the movement for the future? >> we saw a lot of activity
today. this is usually a fairly businessy stock in erms the of actions traded today anyway. it traded 312,000 stocks today. it actually means that this stock traded more than 2% of all the options that traded, that includes etfs and single stock today. usually much like the stock action itself, the options activity has been bullish but that certainly took a negative turn today. the put volume outpaced call volume by more than 20% and the price of options went up sharply. if you buy the 110 call and the 110 put is now over $22. that essentially means that this stock could break 20%, maybe more in 30 days. over all the tenner was bearish on puts. >> let's go around the horn here. guy, if you had to play tesla, long or short?
>> i don't know what the borrow is or the puts cost. >> the borrow was surprisingly low. >> i think you can play it from the short side. >> i think it bounces off 100 but pros only. this is not a trade you can put on and go fishing. >> 80 bucks is where i would start to look. that's where the chart tells me to look. >> let's get a check on yahoo! the stock mog lower after a disappointing third quarter. >> reporter: marissa is right now -- marissa meyer, the ceo, is talking about how they are trading upward. she hopes will leap from increased page views to increased advertisers to increased revenues. she's doing it in a very unique format on yahoo! finance.
our partner by the way in a video. she's reading off the prompt ter to the camera. it's a different look at this. clearly there is a business reason for it. it's an earnings call unlike any i've seen before, guys. >> thank you very much, john. keep us updated on this conference call here. at yahoo! who is a buyer? >> marissa meyer so far has done everything that needed to be done but now the jury is out and the guidance on getting advertisers back to the site is going to be about revenue and all these products revamping, adding new pieces to the puzzle to to get the industry support. you don't need to touch it here. >> one percent drifted down, probably gets bought up tomorrow. big hedge funds always use weakness. the earnings aren't the story. the story is asia assets. >> next trade, bernanke takes the hot seat on capitol hill hom to deliver his semiannual
testimony on u.s. economic and monetary policy. our next guest made a bold bernanke call on "fast money" last month that sent the markets into a tail spin. listen. >> based on my reports they're getting closer to the date of a taper. i hope that will mean they're now in a position to explain to us more clearly what the actual economic variables or progress on the economy is. >> so what can we expect from the fed chairman tomorrow? for more let's bring in robin harding, u.s. economics editor at the financial times. great to speak to you. >> great to speak with you. >> it seems you don't think anything necessarily new is going to come about. it's going to be released before the market opens to give them about an hour to digest what is going to be said. how is that going to impact the markets? >> the first thing to remember is when bernanke testifies to congress he's speaking to the
whole fomc so he's bound to stick to what they decided at the last meeting. he always does that. what maybe interesting normally comes in the q and a. the testimony which is coming from the house financial services committee may not actually make such a huge difference to markets. it's the q and a we should be looking for anything, whether it's going to be a big impact. >> what are the odds from getting a firm response from bernanke as to whether or not he's going to be out of his post? >> extremely low. once he answers that question why should anyone listen to him when he says anything else in the future. for now he's the fed chair. you never know, he may remain next year and while he's speaking for the institution, then he needs to be firm that he's indeed the fed chair. >> has bernanke gotten ahold of the policy rhetoric at this point. before his chance last week and
essentially what your note referred to was the fact that he had not communicated to the market what i think he's been trying to do the whole time. are we back in a even scale. we have had a euphoria rally when he restarted his assertions. i think bernanke starts to drift to the background until the real data tells us what's going on? >> i think you're basically right. what we can expect tomorrow is a reiteration of what the fomc said in june. we can expect him to make clear that the fed is still absolutely willing to support the economy when the data justifies it. but that when they started qe 3, the unemployment rate was 8.1% and they're planning to finish it roughly when the unemployment rate is 7%. it would be bizarre if that's a one percent change in unemployment and monetary policy didn't change at all. i'm sure he'll point us to the data. the other issue that i think you
were pointing to there is that it is quite likely from everything the president said and mr. bernanke said that he will no longer be fed chair come fed next year. next time there's one of these testifies to congress. the important question for markets is to what extent can you rely on what mr. bernanke says about what the fed is going to do in 2014 and 2015 when you are no longer certain that he's going to be the man in the hot seat. >> we're going to leave it there. thank you for joining us. >> thank you. >> bernanke has been out reiterating what he has said in the past and the market has rallied based on that. >> done everything right. if getting the market higher is his goal he's succeeded in that. we pushed up towards that 1687 level. we obviously didn't get there today. i'm not going to make a big deal out of today's selloff. you have these moments in time. it ain't staying here. this is one of those things that
happens a few times a year. 1680 is not where we're going to grounder for the next week or two. we're going significantly higher or lower. you know where i stand on it. >> gun to the head, bernanke or earnings? >> earnings, absolutely. >> from the point in time, the vital point in time in terms of the market. >> you better hope bernanke because earnings are not going to be any great shakes. ex financials were negative year over year. >> let's get a check on an after hours mover here. csx higher. you see the spike there, up one and a half percent continuing gains from the regular trading session. next, meryl lynch supporting speculative in gold, hitting record levels, more than 23% in 2013. could now be the time to buy. a good old fashioned street fight. we'll keep you updated on the conference call, marissa meyer speaking right now.
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trades. first up coca-cola falling flat. matching on second quarter earnings but revenue and case volumes missed expectations and they mentioned and blamed the weather once again, tim? >> that's great. globally growth wasn't where people wanted to see it. the margins are very good. they increased 73. over all the price was flat. people thought they were going to start to increase their pricing power. i like coca-cola but i don't like this valuation. >> johnson and johnson soaring to all time highs in today's session. josh brown? >> today's report is literally nothing not to like. revenue smashed expectations. they went higher on earnings. the second quarter beat is skewed. i think you have to keep in mind with j and j all of the news is good but it's very expensive. 15% premium to the peer group
and probably doesn't have a much higher growth rate. if i'm a holder we picked up the xlv. which gives us exposure. >> doesn't it turn anybody that they're talking about cutting back on hospitals when it comes to adopting new devices and procedures? >> the beauty is that they've got three distinct business units. weakness in any one of them can be offset. >> when they bought pfizer's consumer products business they became effectively a consumer branch business. if you look at them compared to proctor and gamble they're cheap. >> what is the company? >> i sort of still like it though. >> stock is breaking 90. ten to dribble up to 100. it's not the kind of thing where you have to say it's so expensive, sell it. bear in mind this thing has had a huge month.
>> let's switch gears to the auto trade. general motors getting added to the buy list taking the place of ford here. >> they sort of fricasseed -- >> what does that mean? >> it could be delicious. in stock terminology it's not a good thing. in terms of ford, they actually raised their price target on ford from 17 to 20. the next catalyst for ford comes in earnings release i think july 24th. i think there will be a couple days more pressure. you earn ford to whatever the week is. you get into it into that release. still the best place to be although it got beat up tomorrow is down treatment. >> let's get back to yahoo!. shares are actually down in extended trading. yahoo! is one of larry haferty's top earnings. he's the associate portfolio
manager of the media trust. how do you size up the quarter? >> it's what you folks said earlier. the domestic business is unexciting but the real story here, melissa, is in asia and everything that i can find points to green lights on the alley bab ba. the thing that's interesting here is i think marissa's hall pass is very close to expiring. the third quarter outlook is not too exciting. that's not a big quarter for the internet. she's made close to $3 billion in deals and there better be domestic improvement or i think some of the shareholders will not be terribly happy. if you go back six months, a year, two years, three years, the probability of these guys merging with microsoft always made, to me, an awful lot of
sense. i think there's beginning to be a little pressure on the operations here, but the asia assets look absolutely spectacular to me and i think one way or another we're going to see the mid 30s. >> larry, it's karen. obviously the alley bab ba stake is a lot of what's driven the story here but what actually has to happen to have some sort of mon taization of that. she said she was going to review it when she came in earlier. where does it stand now? when is something going to happen? >> the beauty of this thing now is that you get quarterly progress. you have a public company that can provide you with a pretty good look at what's going on in the business. that public company of course is ten cent. you're going to see very, very strong earnings and revenues from ten cent and i think you're going to see very strong revenues and cash flows when they get reported in the yahoo!
10 q. i think every quarter alley ba ba is going to increase in value and at some point it's going to come public. our view is that it will start in the neighborhood of 60 billion. there are a bunch of us who make the input on that. i'm actually at 70 billion. i think the first trade will be 100 billion. that will get you into the mid 30s yahoo! without a whole lot of trouble. you're adding ten percent to the internet user population each quarter in china. if you look at china what is really important is what does the government want to happen? it's pretty clear the government in china wants consumption to happen. how does consumption happen in china. e-commerce. alley ba ba has over a 50% share of e-commerce. you sit there and watch the grass grow. that's been a pretty good strategy so far. if marissa can turn things around, i think you have a stock
with a 4 in front of it. >> larry, thanks for your time. i appreciate it. let's go to mike khouw here. we've been showing on your screen shots of the live web cast from the yahoo! conference call. mike khouw, larry mentioned the alley bab ba call, 60 billion in valuation. >> it's p interesting because when we look at the options market, generally speaking it's the options premium drop as stocks rally. we've seen the exact opposite lately in yahoo!. what that suggests to me is that a lot of traders who are looking to make bullish better or willing to commit less capital to the trade. that would suggest they have been substitute is long calls for puts. that's probably the best way to player it here. maybe sell some lower strike puts in case the strike pulls
back. i think we'll see some of that premium coming out on these earnings results. >> looking at the stock it topped two months ago. where are people playing these levels then? as you say topped somewhere around 27. >> the 27 strike near dated was quite active but we actually saw some activity going out to october and on higher strikes up into the 30s. for example the october 31 calls were the most active options today. people are saying to themselves, i think i can see it pushing up higher but rather than purchase the stock, they're going to take what they're willing to risk on a trade and purchase calls. >> coming up next it's the most hated trades on the street. bets against gold. does that mean you should bet against the crowd. we've got a street fight. later on a deeper dive into the tech names.
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>> bank of america reporting speculative shorts in gold. the precious metal down 23% this year. is the short trade overcrowded. time for a street fight. tim seymour is our bull. josh brown is our bear. tim, kick it off. >> we were at these extreme levels last month. ultimately 12 was where gold had to hold. it did. extreme bearishness and fear are not places where you feared but saw these as great places to
buy. if you look at where they were in march of 09, that tells you what you need to know. ultimately where it gets back to fundamentals, this is a technical call and i believe investors are down on this. central banks are buying gold at 2% a year cliff. cpi was not the headline but at some point we have to face this genie. when i look at where gold p demand is i look at supply. all we hear about is supply being taken off line. ultimately this leads to a supply squeeze on gold in about 12 months. >> i really only need like ten seconds. this is a downtrend. this is a commodity bust cycle. they take months, quarters and years to work out, not weeks. it's really just getting under way, unfortunately. there will be short term bounces, oversold rallies. this is when you have to sell positions that are causing you
pain. >> this is a lot of guys hedging commodities across the board. a lot of guys were in at the peek. gold is not a commodity to be followed the way the other commodities are going. >> the problem with who is buying very quickly so i can make a final point. bullion, people tend to hold for a very long period of time. what's been driving the price over the last five years is investment demand, etf flows, those are decidedly negative. >> we have to move on. let's get the verdict. we're going to ask everybody on the desk for their opinion. mike khouw, who won the fight? >> josh brown. back in the early 80s gold dropped almost 70%. more in real terms when the dmodties turn, it's ugly. >> guy? >> i'm going with hashtag on this one. i always thought gold was a currency. >> where can you use that
currency? which store? in times square? >> it's one that we currently own in the united states. gold wins in the end. >> karen? >> i'm going with josh. i don't get it. the trade is broken now. could it bump a little? yeah, but no thank you. >> we want to know how you feel out there. who won the street fight. tweet us @cnbc using bull or bear. let's get back to john ford in san jose, john. >> reporter: marissa meyer and ken goldman, the cfo talking about how the ad display business suffering. ken saying international clicks have been suffering. he's saying more clicks are coming from international which
is leading to a lower cost per click. interesting trend. also affecting display he says a lot of premium inventory has moved to nonguaranteed and u.s. has moved to international. i expect there are going to be questions about whether the sales force reorg that yahoo! embarked on earlier this year might be having a negative effect. they're trying to move to a category model where someone is in charge of automotive and sells that throughout yahoo! and away from a regional model. some motion thought this could lead to short term pain, maybe some long term gain but questions about whether that might be gumming things up now as all these other changes from desktop to mobile and now from u.s. to international, from premium to nonguaranteed are also happening. >> thanks for the update. still to come they are proving once again they are the best traders in the world. how does goldman sachs stay at
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>> welcome back to "fast money." i'm josh lipton. the continuing story of dell absolutely continues to make headlines here. dell's special committee has just issued a letter to stockholders. it is a long letter criticizing carl icahn. the bottom line is they continue to believe that a sale at a premium remains a superior option to a leverage recapitalizati
recapitalization. in other words, the offer continues to be one they support. dell's special meeting will be held on thursday, july 18th at 8:00 a.m., central daylight time. this headline from reuters that they will not raise the bid to dell. tomorrow carl icahn will be speaking to scott wapner at the conference. tune in for that. melissa back to you. >> let's check on stocks moving in the after hours session. the ft is reporting that the ec is proposing a draft plan ceiling on consumer debit. that cap could be as much as 0.2%. we are seeing this stocks move in the after hours session. american express is down by two percent. look at the move in master card as well as visa. these are all feeling the impact of this story that was released
in the after hours session. guy? >> it's clearly been names that we've liked, specifically master card and visa. we've seen headlines like this before. i can't speak to how much lower they're going to knock these things down. when the dust settles, which it will -- >> really important here. a lot of people don't understand this. master card has business in both of u.s. and europe. visa does not. visa europe is a separate company so visa will be much less affected than master card. >> i am long master card. the size of the cap seems to be fairly significant. i don't know if that's just a starting point. i wouldn't jump out and panic here. i'm going to hang onto it. >> we should note american express is out with earnings tomorrow. it will be interesting to see commentary on this report. again the ft is reporting this according to a draft plan. ebay reporting tomorrow off the
close initiated a buy. will it live up to expectations, guy? >> here's now ebay banging up against highs we last saw in december of 2004. you have the technicals working against them. will they get that paypal license in china? that's a big question out there. i think you own it until their release but you get out at least half or three quarters of your position and look to fight another day. i would rather buy this stock on a breakout above 60 or look for a pull back into the low 50s. own in earnings, get out at least half and live to fight another day. >> intel dropped three percent in the past month and underperforming the s&p in 2013. josh brown? >> this is where the overall business itself is declining rapidly but we've got interesting initiatives, things like cable television, trying to get into mobile. i don't think they can catch it quick enough. i would lay off and listen to
the commentary. >> finally let's get to ibm up just one and a half percent. can they turn things around after tomorrow? >> ultimately ibm is struggling with its own success. a lot of people think the consensus revenue is high. guidance is at risk. i bet these guys will tell you they're seeing people think, probably a chance they're going to move downward. stock couldn't break past 215 has been in a downtrend. ibm for this cycle best days as a stock somewhere below 195. don't do anything tomorrow. >> rapidly rising rates may be hurting investors but goldman sachs is minting money. they contributed most to the second quarter revenue. why are the big banks so much better at trading than the rest of us. let's bring in larry mcdonald the senior direct are of new edge. i would hope they're better than all of us. in terms of goldman sachs
specifically why do they beat their competitors on this front? >> since lehman, the big traditional banks, the jpmorgans of the world, bank of americas, they have been less like invest banks. they have pulled back to the 1980s businesses. in a classic risk on market as we've had the last three months, that's where gold macman is goio shine because they can go back to their traditional business and capitalize. if you look at the interest rate risk, the mortgage refinancinre the pain that's causing, that's been the gift that's kept on giving for years and year. that's going away. that's really one of the big differentials i see. >> as the compensation structure changes, in other words you don't get paid the way you used to get paid to put on risk, the fear is this ex does of traders from goldman sachs to hedge funds and what have you.
is that still out there? >> we've seen that across the board. all the firms have lost people talent to hedge funds. most of my friends on the street that used to be on the sell trade, at least half of them or three kwafrters are on the hedge fund side. the other interesting thing going forward, think about securization, it was enormous for goldman. once they fixed fanny and freddie as a bill coming this year. toward next year if they take business and move it to the private sector goldman is going to kill it in that area. >> i guess i'm confused. it sounds like you think the traditional earnings is a challenge unless the market changes. a lot of people say they had a tax event that was helpful. investment banking revenues were high because it was a good
environment for underwriting. that seems like it can continue. >> invest bafrking killed it. it was a home run. a lot of their comps are versus second quarter of 2012. that was the quarterer that greece threatened to leave the eurozone. it was the easiest comp in the world. that's why these numbers look good. >> people are going to think you're a huge bull on financials. that is not the case? >> goldman itself is up 60%. a lot of these banks are getting 50% above. >> they're growing like crazy. >> five year cds on the big banks, the xlf is through the highs but the five years on the big banks is wider than it was on may 22nd when this rally started. >> the cost of insuring is higher -- >> big guys are buying -- i
think portugal, risk in spain -- >> negative on financials? >> for the next month definitely. >> you would tell clients what is this. >> to sell the financials right here. be careful of the financials the next 30 days. >> larry, good to see you. thank you. still ahead how will the pain at the pump affect the back to school shopping season? a little later on the look at the biggest movers and shakers. we're keeping on our eyes on yahoo!. marissa meyer is speaking out. we'll bring you the latest headlines as they come in. back in two. ensures support, a breakthrough. and sooner than you'd like. sooner than you'd think. you die from alzheimer's disease. we cure alzheimer's disease. every little click, call or donation adds up to something big.
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♪ we are farmers bum - pa - dum, bum - bum - bum - bum♪ >> welcome back. the national average price for gasoline hitting $3.64 today. what will higher gas prices mean for the retail trade? is it too early, karen, at this point? >> it might be. it may be seasonal somewhat. if we get employment continuing to improve maybe that off sets it. it's tough for walmart and for the restaurants, not good for them either. >> guy? >> i think people figure it out. i mean, one thing we've learned is u.s. consumer spends
regardless. although the gas prices are grinding higher i don't think people feel it until we change big figures in a significant way which we aren't doing so. the retail trades in place, gap is down today but i think gps works here. >> time for pops and drops, the biggest movers of the session. a drop for marathon petroleum, down five percent. >> catastrophic was the best way to put it. i wouldn't go fishing into this one. there's a few more days left on the downside. >> drop for dell down one percent, karen? >> this is fascinatinfascinatin. it's a game of chicken here. the lower the stock goes, the higher the likelihood of risk hooders to approve the deal. i think the dell deal isn't happening. i don't know what happens next. it's like war games. the best thing to do is not to play. >> drop for zion bank corps. down two percent. >> i think you buy it. it's not a huge dip. all the regionals came in.
this stock under 30 i think is a buy. i think it takes off with the bank earnings tomorrow. >> pop for bidu. >> they strengthed their mobile food print in china. they're the largest third party app store there. this is a positive. >> drop for whirlpool down three percent. tim? >> big upgrade from jpmorgan saying the second quarter buying was going to improve. if you look at u.s. hold hold small appliances is doing, i think the stock hit its peek. i would be staying away. >> double pop here. a pop, pop if you will. pandas. sheer pandemonium. >> did you write that? >> i can't take credit for that fine line. a resident bear unexpectedly gave birth to twins. zoo keepers were expecting one
offspring. the bite sized babies which only weigh 3 ounces apiece are the first born in the united states in 26 years. >> this is where you go awwww. >> seriously, those were little pandas. >> that's the way they come out. like hairless ham sters. anyway. they will follow the chinese tradition of waiting to name the new born. >> how do you know when a panda is pregnant? >> you don't need to know. >> sonogram. >> the panda was lethargic. >> and bitchy? is that what you were going to say. >> i'm not going there. >> our veers send tweets. we answer them. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning
every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies." financial literacy is not taught to young students. but from an early age, children internalize behaviors that affect financial decision making later in life. pwc is helping spread that message. i'm bob moritz, u.s. chairman of pwc.
of any real big mega cap plays in tech because there's been other problems. >> since that call google is up about 14%. tim? >> my call that big tech was a home for big guys rotating and ultimately google at 25 times wasn't terribly cheap still holds. these guys are executing. the end continues to be a place where their shift to mobile is slowly working. i was wrong. i'm not long google. >> you tweet it, we trade it. let's get to your tweets tonight. this one is more tim. what does rio's increase in production mean? >> they upped their copper production. increasing iron or 27%. a lot of supply is coming out in iron or and coal the second half of the year. ultimately this company is very well positioned in a very different balance sheet than it had the last time we went through the financial crises. i would look to get back in.
>> josh, thoughts on zin ga turn around. >> done mattic has a year to sell this thing. it's a melting iceberg to me. i don't see them innovating the way they did in the first generation. people don't like these updates on facebook from other people's video games. these a dangerous things but it can get caught at any time. avoid. >> be sure to catch all the big names on deck at tomorrow's delivering alpha conference live here in new york city. big names. nelson peltz, carl icahn. and of course kris jenner, we are talk to him about health care. a lot of investment ideas coming out of that. meantime, we got your final trade coming up next. ♪
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first half sales up four percent. even though i'm buying this on weakness. >> josh brown? >> you got a three percent dip in ford. the breakout is still going on. i would be long this stock at this level. >> karen? >> ocn, i still like it. >> guy? >> norfolk southern. >> see you tomorrow at 5:00. "mad money" starts right now. a 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 make you a little money. my job is not1-800-743-cnbc. holy cow, we can go down too? we can get hit? . dow dropping 32 points.
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