tv Fast Money Halftime Report CNBC December 9, 2021 12:00pm-1:00pm EST
between u.s. regulatory frameworks and those that we find in the eu. >> sometimes these fines, carl, get overturned so we have to keep watching it and sometimes even when there's a ruling somebody gets a stay >> tonight, oracle, broadcom, lulu, costco let's get to the judge and the half >> carl, thank you very much welcome to "the halftime report." front and center, apple approaching the incredible milestone and what a surge means to the overall market and the money. we'll debate that with the investment committee joining me, kari firestone, fran talkington, and jon najarian nasdaq, a lot of focus late down 121 and that's .25%. we'll get to all of that in a moment we'll get to the committee's new moves and apple's record run,
first, my man jim cramer is here, why? because his investing club event is less than 30 minutes away >> i am honored that you have me on yes, the club is everything to me and i've been doing it for many, many years and all here. i will tell you this, the market goes down always when i do my meetings and that's simple because it's live and i have to explain how wrong i've been on something that i just bought so i'm okay. >> so you'll give your outlet from '22 and that will be fun. >> let's talk about that for a second i was downtown and interviewing the old new southwest ceos and people were saying, hey, jim, what do you think about this i actually like that other than at a football game, been there, but i love it when people do that, and i always ask them, what's your thesis why do you ask today real people asking those questions to me.
me being able to have what i like most which is to help people make money. i mean, it's pretty simple, right? you're either in this game because you want to show your mug on tv or you want to help people you and i are in the business of helping people. >> it is such an interesting time in the market i can't imagine what today's event would be like a week ago, right? the market has taken such an interesting turn i can only imagine what the questions are going to be. >> i could say that i saw it all coming and you know what that's not the way we work instead of -- how did i think that winn would be done with the omicron. we have jim farley i think that jim will lay the gauntlet down. i think jim's tired of hearing, do you know that rivian is now bigger than ford do you know that tesla's 1 times bigger -- no farley is a fighter. judge, he's not going to just say yeah, you know, i guess we
were once a great company. >> that's why you liked him so much we are less than 30 minutes away from a big, vent and it's not too late and you can have investing club, forward/live let me ask you before i go what a juggernaut. their 3 trillion ten days bhap did we learn >> there was too many, saying sales sales sales' not that good anda an calling suppliers and none of these things happen. apple has never made a call to a supplier saying i'm in business. skyworks is big and skyworks is
a premiere supplier and i was waiting for that one please, you come in here and you know i like apple and i say own it, don't trade it, but apple could be down three bucks in a heartbeat because the nasdaq feels ugly today. >> the good thing is if you're an investor in apple just as quickly as it could be down three bucks it's proven so resilient that the minute you want to suggest okay, maybe it will have a bit of consolidation the stock will be back when i saw katie over at morgan stanley, she took a $200 price target and that's the kind of thing that says, i'm right get onboard or else and we do have a couple of analysts who remain divided >> goldman >> when goldman gets really positive the greatest contrarian indicator. that could be a problem because you're in the home field part of the playoffs >> tony saks --
>> tony -- you what? my nana mary used to say if you can't say anything nice why bother >> these incredibly smart and i've got tell you, when i look at what you guys are doing and i saw your double duty work. the clubs have had a lot of people who have been really really right >> those were not easy days and we're not necessarily fully out of the woods, but the market is so -- >> i listen to your people because i like them since i was cool looking and i -- but i will tell you this, when push came to shove no one panicked in your team i had off that day that friday who says this is an interesting month. >> you know who did that right before i let you go was josh brown in the heart of the sell-off he tweeted buy them and
he talked about it on the show >> i didn't want to single him out. josh does it, yeah i've seen josh at my bar he's, like, give me -- how about a model on and i like it here and could you -- extra salt on that margarita and it's pretty good here. that's the way he is he's always been that way and that's why he is such a lovable guy. he is. >> josh, you weren't afraid to jump into the fray when it felt pretty ugly. >> i'm blushing. no, of course, not i'm 44 years old i'm going to live to see dow 100,000. i know that sounds outrageous, but that's compounding at 7% a year until i'm in my 70s so most of the people that i'm talking to on a daily basis are thinking that way and all of us are looking for opportunities to buy low, not looking for opportunities to pay all-time highs. by the way, to people in my generation and this is no
offense to anyone older. we should not be rooting for all-time highs it doesn't help us all we're doing is taking the boomers out of their stocks at the best price possible. you don't want to take the boomers out of their house at an all-time high price, why do you want to take them out of their stocks you are a forced weigher if you're my generation forced buyer of stocks in your retirement account for the next 30 years why do you want record highs so when we see volatility i'm tweeting buy them. that's just the way i am by the way, it actually works. so take that for what it's worth. >> have a great event. >> i know you have to get ready. >> thank you for all your support. the whole time i've been doing this you have always supported me and your team thank you, buddy i love you >> you, as well. there it is, cnbc.com/investing club, do the qr code and it will take you there and you don't have to remember the website i
told you to go to and there it is on the screen you have a good one, my man. >> let's kick off the conversation jim lebenthal about apple because you have upped your own price target all along the way. you said the price target was getting to 180 by the end of the year and then you said no, no, it's going to 200 by the end of the year so here we are. maybe i'm reaching too far on that i like the price where it is right here scott, you'll remember that i was buying this, adding a trading position and yes, i heard about what jimmy said about not trading. i will hold for years and i have held for years and that core position has been fabulous, but when the stock was at 125 in february and march there was an opportunity to add to it i did that scott, here's the punchline and i am looking for an exit on that trading position and i'm not going to do it this year i have three weeks until the end of the year. i'm just one investor.
i manage assets for taxable investors and i'm not going to hit them with the capital gain in the last three weeks of the year and i'm saying this because i'm indicative of the market that will sell apple for the next three weeks and it will keep the stock high and marching higher by the way, there are also fundamental reasons and i heard what jimmy said about the supply and demand and the stay of execution, if you will, on the epic ruling which came out -- i believe it came out yesterday is a huge fundamental as far as shoring up the drses of the services business. the stock's high and 200 is a bit of a reach and i'll back off of that, but i will get it to january, and i will trim it then i'm curious in part as to why you're even looking for the exit at some point and why not just take advantage of a good position you got yourself in even if it's just a trading position yr why are you looking for the exit, man? >> you hear the breathlessness in how i'm speaking about it and
there are others who are speaking breathlessly positive about it and that was the exact opposite of what was going on in february and the s&p was up 2.5% and people were hating on apple. you've got to be aware of when investor sentiment gets too frothy in either direction i'm not selling it today i'm not. >> i understand. i'm looking for the exit just on those trading positions and i'll keep the core position it's a little frothy and the multiple, i don't see that expanding in 2022. i like the multiple where it is, but i only think you'll get a return that's commensurate with earnings per share growth and that means there will be other opportunities out there so that's why i'll wait until january. >> i'll be first to admit, i don't remember every single move that every committee member makes nor do i remember every time they talk about a spike stock, however, i have a pretty good memory of what you guys do, and i seem to recall bryn talkington, maybe it was a point six months ago or maybe it was
somewhere in between those two points where i recall that you were trimming apple, am i right or wrong >> yeah. no, you are right. i think it was a year and a half ago. >> it seems like six months ago. >> yeah. yeah you know, what's interesting with apple is forever -- outside of people shorting, trying to short the japanese yen, analysts that have been negative on apple has been the other widow maker trade. it just hasn't worked and i think if i want to go back a year and a half ago and think why did i trim apple i think the one thing is if you look at their revenue and earnings growth prior to this year, really most of their growth had been from stock buybacks and so that was the narrative from the analyst community of why apple shouldn't be at the multiple that it is, but i just think you have to respect the market and i think what's happening rid now is that there are so many hedge funds and algorithms that i'm certain
individual investors that have been selling high growth names that are selling in interest rates and people are moving into apple because there's certainty around cash flows. it's such a comfortable stock. everybody owns it and everyone has an iphone and you have repositioning out of the high growth aims and people want to be invested ask the high growth dollars have come out of it. >> since jim cramer mention you, i just heard two people violate cramer's number one rule in apple and there is don't trade apple. invest in apple. don't play around! >> don't tray to get out at the top and get out of the bottom. you own apple, what do you think? >> well, we all own apple and apple is 6.5% of the market and when we talk about apple it represents the biggest
commitment that people make to the stock market and as others have said, i mean, bryn just said it people take money out of other names and buy apple. if you look at what's happened in the last month, less than a month, apple is up 19% and what's gone on in the market during that period of time is there have been huge sell-offs within technology. apple's own sector and a lot of high-tech names have had volatile swings and some of it is tech loss selling and that money has gone to safety and it's been defensive, staying within the sector and apple represents an incredibly strong, well-known safe and growing company. no one is suggesting that people bought it because they just discovered apple they know it and we believe that there will always be this commitment to apple by investors to keep their money there while they're waiting for something else which is a good reason not to get out of it, but i think
that jim is right. you can trade around it. if you have a 6%, 7% position, you can trade it down if you feel comfortable with other ideas that make more sense and have more upside and buy it back when apple falls to within the attractive range and it has done that many times over the last five years >> it's great to own it and it's a receptacle for cash and it's all right to trade around. >> okay. you use the word safe ask growing when you talk about apple and it makes me think about of the he-flyer. i think growing, but wobbly because because that stock was on "squawk box" and cathie wood was on there defending her position >> most are seasoned investors
and they're saying that our stocks have been in bubble-like territory. we couldn't disagree more because we are seeing five major innovation platforms involving 14 technologies all moving into exponential growth trajectories simultaneously josh brown, this brings me to you. cathie wood says no bubble in ark land i look at stocks from the innovation fund. this is the percentage that they are off of their 52-week highs off their 52-week highs. robinhood is 75% off its 52-week high teledoc is 68, chris werer is 65, draftkings is 56, dock yousign is 51 and on and on and on how could there not have been a bubble in those names? >> well, it's a loaded term the term bubble, but i think if you
just consider the fact that -- >> you can use effervescent and someone used that on closing bell which was very interesting. there's this effervescence >> listen, i don't own any of those stocks, but we all understand -- we all understand that -- >> youown coinbase and that's 36%. >> i own coinbase. we all understand that using traditional price earnings or book value to market cap or enterprise value to ebitda like, if you take those traditional metrics that we value corporations at, none of these stocks are buyable, right? but they never have been, and so she's looking at things on a five-year time horizon and what she's basically trying to do is own companies that have network effects and a platform where they're spending money today to make much, much more tomorrow
once they've established themselves one of the things -- look, this is the type of situation where i would normally buy the dip it is the most despised corner of the market right now after having been the most loved corner of the market a year ago. one of the toughest parts about saying, you know what? i think things are too negative. i'm going to get long ark is that she has a tendency to buy headline stocks, like, if you look at what all of these companies have in common that you just rattled off, what consumes are are talking about them traders on tweter isn't talk period that them and they're in the headlines every single day and that's aed itline that's very different rrth than spin be -- why would draftkings be in the same portfolio with tesla.
they have nothing to do with each other other than traders love to talk about the stocks. that keeps people from saying i'll pull the trigger on the dip on ark, but i don't think people are going to just not want to buy growth ever again. they just might not want to buy it in this way so she has a hurdle rate that she's aiming for in terms of how much these companies can grow and how much opportunity there may be in the stock, but she's not doing this on a quarterly basis, and i think if you're allocating based on that assumption that she's trying to track the s&p over a 90-day period you're going to be disappointed i think she's thinking longer term and thinking bigger >> i'm reminded, though, that yesterday you said buy the ark g, the genomics, fund, didn't you? >> no. i was talking about another sector that was hammered and arkg has know one of the more popular etfs
every time i mention a ticker i'm not telling people to buy it, judge. arkg is the ark version and xpi is the more popular way to buy the index version, but we were talking about the underperformance in biotech this year which i thought was notable, but look, if you think about this year, one of the biggest themes this year was the re-open and cyclical stocks, financial stocks, energy stocks had their day in the sun, that money had to come from somewhere. it came from these high multiple darlings of 2020 we see this play out every year. what was trash last year was treasure this year and vice versa and next year it could be another reversal so it would be very, very premature to completely write off some of the fastest growing companies in america just because their stock price hess to take a time out >> cramer suggested that it
could take a long time for some of these stocks to come all of the way back >> can i show you something? >> some may never. >> i can show you something? >> quick >> can we pull up a chart of sienna c-i-e-n. i wish cramer was here >> we're pulling it up talk about it. >> okay. 20 years ago this was the hottest stock on the planet and just like cisco, it was obstacle fiber and networking and switches and riders and the buildout of the internet and this stock got it to $600 a share on a slim adjusted basis look at it today explosive move and one of the top performers of the market up 15%. this company has been humbled for two decades and is now coming out of that trap that you're talking about, judge, where the expectation are just so big that even if the company
is okay, the stockholders are going to suffer for a long time. on a 20-year basis, sienna is still traying to make a comeback >> josh, you're making a great point and you know this so i want to add to this, during that timeframe the investor base changed over so the folks who today -- >> oh, yes. >> who last year the folks who have been in the ark innovation companies are not going to be the folks that are in the ark innovation companies two, five and ten years from now. >> really? why don't you speak directly to bryn bryn is in the ark innovation companies. she's in the ark innovation companies and something tells me she's probably still going to be there in five years. talk to the farmer talk some sense to the farmer. >> no, no. >> i want to hear from bryn now. you said that people who were in the ark innovation stocks today are not going to be in there two and five years from now.
>> and i will stand by that. >> we want to hear from bryn talkington i don't care what you're standing by. i don't care what you're standing by. i want to hear from bryn, she's actually in it >> i would say that -- we'll hear what jim says when he finishes i'll wait on that. i think when we hear about the investor base today and the baby boomers have the money, but the largest demographic today are the millennials and they're just starting to get money and they'll inherit all that money and i see how they're investing and so i'm definitely not a millennial, and we have an allocation to arkk, and as i've said before, we wanted to have exposure to public market companies that could have vc-type returns and you have to be public because these companies need money, and i think that cathie gets painted with such an unfair, broad brush because everyone talks about what she owns like draftkings is a position in arkk
maybe draftkings does terrible and maybe it doesn't, but she sizes it right tesla has an 8% position i remember when cathie in 2018 did an open letter to elon musk when he was threatening to take tesla private and she walked through all of these reason yes they needed to be a public company, and like, who does that she's had so much research and she knows these companies inside and out and i think what's important is investors only focus on the 50 names that are in arkk that she owns, but she doesn't own peloton and she doesn't own moderna and there are a bunch of names that she knows will be disruptors over the next ten years so for my two cents she is only one of the active managers and we are huge fans of factor-based and managed etfs, but in this space, i think it's incredibly hard to discern how to value still tesla. i don't know how you value that three years ago, but she did a
great job. i think you want to have exposure there, but i agree with josh that this could be a while so as investors, we own it and we'll stick with it and once we think that probably after the first quarter when the inflation narrative settles down and when the interest rate spasms settle down that will form a good base to any back into these companies because i'll tell you this, scott, if the fed funds at 75 basis points and the ten-year is at 175, no one will tell me these types of companies won't do weal. that's such a low yield in the late '90s the fed funds was at 6% i'll turn it back to you and jim, but i think she does get painted with an unfair brush in terms of what companies she invests in >> take that, farmer jim >> she turned it back to me. i turn it back to you. you need to answer >> everybody who is an investor knows this, these stocks when they go through the desert for
years which is likely to happen in the same way that cisco has still been in the desert ever since it was on the barron's when these stocks go through the desert for years and years their fan base changes and that's likely to happen with these stocks people who are buying them today and i'm not taking a shot at bryn, but people who are buying them today are thinking you'll get the growth rates that you saw in the last two years. that's highly unlikely and when that disappoint sets in you will find i.e. value and growth at a reasonable price and that takes years. years, plural. >> why do you have to see such unbelievable growth in these name, the likes of which you've had over the last few years to make she's stocks investable and to get legitimate return >> did not say they're not investable. >> that's a good question. >> no, no, no, but you're painting the picture there's no
way these stocks could possibly could grow the way they've been so why touch them at all you are saying that. you are saying that. they've not had the kind of growth they've had so forget about them >> i can answer the question >> go ahead. this is a question of volatility versus return, right these are highly volatile stocks you put up the drawdowns earlier and we saw mega numbers. for that sort of volatility there has to be a return that's commensurate with it and what i see right now is the return going forward is not going to be j enough to justify the volatile they they have and savvy investors will sniff that out and they're going to say, i have two choices and i can either go for higher returning stocks or lower volatility, but the combination of these names and their low potential return is not a good investment mix. period >> bryn, get the last word because then i'm going to take a
quick break. >> yeah. i've been in the business since 1994 y is i've seen all of the psyches that will everyone on this show has and why we want to have an allocation there is when google ipo'd cisco in the late '90s, i don't have theabl ability to understad the siscos and there will be googles and netflix and that's why you want to own the strategy going forward and it will be a timeless strategy that you don't have to necessarily time >> i love the conversation and i certainly love the debate. thank you, guys. >> we'll take a quick break and the investment committee making moves in their portfolios and we'll document those coming up i told you at the top. jim cramer, cnbc investing club live it's two minutes away and you have time to get in. scan the qr code, go to cnbc.com/investingclub/live and so much more, what better time
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shots for 16 and 17-year-olds. the cdc must also give its approval before boosters can be administered a decision is expected soon. oklahoma has executed a man for the 1985 shooting death of a school teacher a court rejected bigler's claims that the lethal injection method would result in inconstitutional pain and suffering amtrak will have to reduce service next month due to the covid vaccine mandate for its workers. 96% of its employees would have gotten at least one shot ahead of the january 3rd deadline and that would not be enough to avoid temporary cuts in train service. new york attorney general letitia james dropping her campaign to be the next governor of new york. james says a number of important investigations and cases are under way and she wants to continue her work on them. those include a fraud probe into former president trump's company. on the news, travis scott
speaking out in his interview since the astroworld tragedy hear what he says on "the news" at 7:00 p.m. eastern scott, back to you. >> thank you very much, rahel solomon. the investment committee making moves. kari firestone, you first. new position, autodesk why? >> autodesk is up from its peak. it's the leader in software for design and engineering and they're adding new verticals such as construction and moving toward a subscription model across their base and this is a solid growth company, 15% longterm revenue and 20% long term earnings growth and it's just been hit with a number of names. we think this is a time to step up and we've watched it for a long time. it was more expensive than we wanted to pay. so this was an opportunity and that's what we're supposed to do, buy low and that's what we're doing with it. >> looking at small-cap stocks in which you've been adding to and one certainly we don't talk
about on this program very often and let's go through a few of them ftv, you're buying more of it. >> yes so fortive is a instrumentation and precision electronics and measurement for health care for industrials and even for technology companies again, stocks underperformed and we've been adding to it, so yes, it's attractive. >> i'm looking at health equity which is down more than 5% today and it's had a miserable few months and it's down 37% over the last few months. so health equity is a health savings account platform company and as people go back to work. that's more employees that can start health savings accounts. covid was very, very bad for their business and they also have a commuter business
so they have a platform in which you can put money aside, tax-free for commuting and think, people aren't back at work to the extent that we expected and so the stock has suffered for that, although its core business is picking up and we think it will continue to grow so again, we think it's a very attractively priced here. >> integer holdings group, itgr, another one that's down 12%+ over a few months. >> yeah. sure so integer is a medical device company. they provide outsourcing for the larger abbott, j&j, companies that are in the medical device business because of covid, of course, their business was way off as people were not doing elective surgeries in hospitals and the stock is moving toward 100 and then it came back down as soon as we had the omicron variant announced and this will recede
and the stock will continue to grow once things stabilize >> okay. bryn, you bought more xle and the xop. >> yeah. another buy low like kari. the day after thanksgiving when the news about omicron came out energy just had a shellacking. i think people need to understand that supply is going to remain tight. i listen to a lot of these ceo calls and these energy calls and the common theme is capital discipline, capital discipline, and capital discipline, and i think that $80 oil could be the new 60 and energy will remain elevated i think that going into the next few years there's a secular tailwind within energy i know it's a hated asset class, but it's a needed asset class and a needed fossil fuel and i want to take advantage to add to those positions which i think
will do well over the next few years. our event with jim cramer has begun. he's speaking with investors today and the club members it's a special event called cnbc investing club jim's giving his game plan for 2022 and as i said, he's taking questions, as well and we're kicking off the seary, and it's a one-hour investing digital special. jim and his investing team will review the positions and he'll answer your most pressing questions and as i said, he'll look ahead to the new year and he'll be joined by a virtual audience of investing club subscribers of which you can bewhich become one cnbc.com investing club live and you can get in on that which is happening right now. up next, trading has expanded beyond the usual trading day, but are you ready for 24-hour trading? as we head to break, check out the s&p sectors today led by
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the show i'm bob pisani a 24-hour exchange has been launched and it's in negotiations with the sec to open a stock exchange that will be open around the clock in 2022 hedge fund titan steve cohen is an investor and how will an exchange like this work? let's talk to the ceo of 24exchange dmitri, you've submitted a 24-hour application to the sec and they've responded with comments and you're on the verge of re-submitting this application and what are the odds of resubmitting this in 2022 >> thank you very much, bob. thank you for having me on the program. the prospects for 2022, once we submit the draft application we've had discussions and we fail pretty confident that we will address, you know, any comments that will come up and
we're hoping to receive a license and start operating next year and providing services for american and global clients. >> you know, i've known you a long time, dmitri. i knew you when you were at credit suisse and there was talk about you having a 24-hour exchange and it's gone nowhere is there any evidence that there is sufficient demand to have 24-hour trading? >> yes absolutely there is a huge amount of evidence, and i think what's been driven is the cryptocurrency markets the cryptocurrency markets operate 24/7/365 the traders that used to trade over the weekends and the evenings and this is where it's convenient for them because most of us work during the day and they now demand the same service for stocks you read news with tesla, apple and bitcoin.
you want to buy or sell etf or the actual stock, you want exchange to be open and available so you make your transactions right away and not wait until monday morning. >> all right we're going to do a deeper dive into the mechanics of how 24-hour trading might work including trading etfs on etf edge at 2:00 p.m. eastern time today. dmitri will join dave nadid the etf cio. halftime back right after this
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have really looked up to nubank and its ceo david velez on how to attract high-profile investors. nubank's pre-ipo backers include warren buffett's berkshire hathaway and sequoia and the founders fund and they're not the only private investors rushing into latin america especially in thintech and e-commerce year to date that region has brought in just under $15 billion in vc funding. that's up threefold from a year ago according to cb insights countries like brazil and columbia have a young, mobile native population with some of the highest internet engagement rates in the world and a lot of people moved online everywhere during the pandemic and boosting user growth for the start-ups there and it might be a challenging landscape to go public, if you look at the high growth public comparisons for nubank it was a hot thintech, and
mercado libre. it's also been a tough couple of mocks for the flagship u.s. thin tech you have area and paypal after being some of the biggest 2020 winners and negative for the year as rest source rotate, and that stock outperforming after its spac merger and it's up 30% year to date scott? >> kate rooney, thank you very much josh brown, what do you know about this one >> so this is one of those thintech apps which is poised to become a super app i don't think that the average consumer whether it's in brazil, colombia or the united states or anywhere in the world is looking to have an entire page on their iphone filled with different financial apps so all of these fintech companies will have to get really good at incorporating
lending credit card and payments et cetera. this is one of those companies that got a jump on that concept and they've been good at the users and by the way, that is not even berkshire's first investment in latin american fintech and i heard them mention stne this one's exciting and i'm interested learning more about it, following it closely and keeping it on my screen. >> biotech has underperformed this week. earlier this week, the man you just heard from, josh brown told you to look for growth in the new year and a bullish call on those stocks and they're doing just that. we'll debate them next
♪ i would just fly, fly away ♪ "call of the day" time wells fargo making a bullish call on five big pharma stocks today. they initiate coverage on abvie, pfizer, vertex pharma, merck they overweight it, they give a price target of $165 talk to me >> yeah, listen, so this space in general has labored under the threat of what drug control provisions will come out of build back better. that's a head fake that bill will be whatever it will be. we'll get it in a month or two and then the space in general is going to be undervalued going forward. and abvie is one of those names. there was a scare a couple of months ago when they had a label
issue. good growth potential, good dividend yields, and the price point is terrific with what's going on in congress >> the one stock that i wanted to highlight with you isn't on this list but it is perhaps, more importantly, on the list of best-performing stocks of the year united health in terms of healthcare stock new high today $473.68 was the highest level of the day. and it's green as we currently speak. >> yeah. so, united health has been one of our biggest positions, that and thermo fisher or two largest in healthcare. we believe that they're agnostic to really what's going on with pressure about drug pricing because they provide services both across the spectrum and united health, thermo fisher, don't have to worry about whether they can get through a drug through the fda, try to price it high now various services don't want to pay for it.
the insurances don't want to pay for it, hospitals, doctors so it's a big pressure cooker. and buying the drug stocks and biotech stocks, even though they're way down, and some of them are incredibly cheap the ones that have earnings. but have that headwind of drug pricing, that's 150 to 200,000 a year for their drugs and that's what the market is worried about. and innovation has been a challenge for all of them other than the vaccinemakers it's been a really tough year. so, we're right now on the sidelines from buying the drugs and the biotechs because it could be another year where they still don't outperform >> we'll take a quick eak brand then we'll come back and do final trades you have to deal with higher expectations and you have to lower wait times. with ibm, you can do both. your business can unify apps and data across your clouds. so you can address supply chain issues in real time,
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"final trades. pharma jim, you're up. >> cvs, analyst meeting today, great news buyback dividend increase but the biggest here is that the multiple's going to expand as the debt gets paid down. look for that over the next year >> raise the dividend by 10% buybacks they updated their guidance as well you can see that stock is on the move 4%. we just showed you a quick promo. the ceo is going to be on "power lunch" today karen lynch will be there to talk about the renewed outlook with our bertha coombs all right, josh brown, what do you got? >> invitation homes new all-time high this week very quietly this stock is up 48% on the year, not including dividends. a phenomenal winner. i think it's going higher.
>> how about you, brynn? >> vibrant energy, it's an oil mineral rights company that had a subdivision yield in the sixes this year. i think as their oil hedges roll off in 2022, that distribution yield could be around 8, 8.5%. high quality >> undermarket multiple, a lot of growth coming forward >> great stuff, enjoyed it, guys "the exchange" begins now. ♪ thank you very much, scott hi, everybody, i'm kelly evans here is what's ahead a pretty nice week shaping up for the major averages the dow just turned positive on the session trying to extend its win streak to four straight days my next guest says it's all just tina and fomo, he's got three stocks still poised to benefit plus, a different way to play this hot housing market we're talking manufactured homes and why that area is poised to take off even more from here and an earnings exchange, the action, the story, and the trade on lulu, costco, and