tv Fast Money Halftime Report CNBC April 14, 2022 12:00pm-1:00pm EDT
of twitter or of tesla would be curious to hear from musk what his plan is for this company. >> right a huge story today that will push bank earnings to the side julia boorstin, thank you. have a great, long weekend and rest up for earnings next week let's get to the half. >> all right, carl thanks so much welcome to "the halftime report "qwest i'm scott wapner front and center, the offer heard around the world, the twitter takeover by elon musk, whether it happens and what it means to investors let's debate that with the investment committee, joining me, shannon saccocia, josh brown, and jon najarian of market rebellion.com yields are up sharply and there's the ten year up 280 which means the nasdaq is up, and nearly a 200-point decline, and s&p has gone negative. you have about 4% moves in rates
today and that is up and down the curve. that's very much the story the other big story, of course, the offer by elon musk for twitter and what happens next, and i couldn't wait to get josh brown's popinion on this. i am so glad you're with us today. $54 billion, you used to be a shareholder. you've been opining about this what do you think about this now? >> i was pro-twitter reaching out and trying to see if they could get board seat, at least a board seat in elon musk's possession because i do think he is one of the only people of any note that are still actively creating content and bringing people to the platform this was way beyond anything that i expected, but it's really exciting each year, the state of nebraska produces $250 million pounds of popcorn. we may have another supply shortage and that may not be
enough if you were a shareholder, you'd be very happy with 54.20 i don't know what the prince is tweeting about no value. most of the value of twitter historically has gone to the creators, not the company. the people who are using it. they derive, like, 95% of all the value and then there are some ad sales, very small, $3 billion a year in revenue. i guess that just goes towards maintenance and maybe keeping a headquarters up, but there is just not that much intrinsic value. so what should happen here is that sundar pachai should come in and offer a bid this should not be a one-bidder situation. i think what's unique about alphabet and google, they can instantly double or triple the productivity of the ad business. this could become realtime google search basically and i think they should really be
considering. i hope they are. i don't think they have the guts to weigh into something like this if not them, i don't know who else $41 billion is way too much money financially and someone has to have enough money that they don't care to be bidding for it the way elon is so that's where i see it i don't think it's a buying opportunity because we've also seen elon musk is get bored, and there's not another election for board seats until next may it's too late to put up a slate for this may so if today's meeting doesn't go anywhere, do we really think elon will stick around for a year and hope they'll consider different sorts of bids or combinations probably not so if you're not in it, i don't think i'd rush into it right now. i think most of the money has been made. >> so many important points that you make and give me areas to jump off on. jon najarian, i start with you, number one on the idea of google regulatory approval, can any
technology company like a google do a deal with twitter >> not a chance. not a chance. >> that's one issue. josh is right, though. josh is right, it would make a ton of sense and you know, but on too regulatorily, it will not fly. you could not see facebook or google make a move on this company at all, i don't believe, scott. >> the more -- >> i think -- >> hold that thought just one second >> i'll come back to you, doc, in a second to entertain this because i think the more important point that josh makes is going back at prince al walid and this is my paraphrasing his word, it doesn't adequately value the company on his growth prospects and that's basically what he's saying. >> what growth >> hold on and -- i'm making your point, too, okay? [ laughter ] they come out like every company that doesn't want to take the
bid and says it doesn't adequately value the company based on its own internal plan and it will grow and blah, blah, blah, and it will be worth a lot more than you're offering. to josh's point, twitter has the board meeting at 10:00 a.m. and they go in there and say we have this bid do we think it's legit do we believe it right? and do we want to accept it and say we don't want to accept it because i don't think it adequately values the company either that's the problem do they have a credible plan, doc, in place internally and say a five-year plan that can either meet or exceed the bid that elon musk has made. you can't just reject the bid because you don't like it. do they have a credible plan in place to grow the business, to credibly say we can reject it? why do i bring that up because if they just reject it and say that and then musk says, you know what? i'm out and the shares crater and then you get shareholder
lawsuits what do they have to prove that the their rejecting of the bid was legit and worthwhile i think everyone is expecting them to reject it because they want a higher bid and they want musk to take a hike kind of like mark cuban was suggesting on twitter, but those are important things to consider here. >> yeah. i mean, you don't need to look much further, scott, than yahoo when they rejected that bid and the stock tanked and never got basically back to the same sort of level of interest from outside buyers i do agree with josh, as i said. i just think regulatorily, it does not fly antitrust, they've spent so much money and be so distracted for so long at google that might be wonderful on one hand, but on the other hand, just -- that dog will not hunt nor will facebook.
i don't even know if a microsoft being take that after they took in linkedin because i think antitrust kicks in all over the place, scott so to josh's other point, though, they do not justify the level of 45 to $50 a share, let alone 54.20. love the 4.20. >> no accident, obviously. >> no. no accident at all and grimes must have smiled when she saw that, too, scott, but when you've got a company that takes as little to the bottom line as these guys do, it is tough this far into the maturation of this company to say oh, yeah, it's worth 50 bucks a share it is not. >> and there's no engagement yeah
it's al walid and the rest of these guy, they can buy it, but again they'd be pissing away their money then if you don't make significant changes in twitter it is worth 50 bucks a share i think that's the point that josh is making and the issue, steve weiss, that i raise. they can say whatever they want, but do they have a legitimate plan to grow the stock price, to grow the business, to grow users and frankly, they haven't proven that they do and now they have a new ceo who's got to lay out this plan. now he'll have to lay it out one way or the other and the market's going to have to judge us to whether they believe it's credible or not. so for those who are suggesting that oh, of course, they're going to reject it the board has the responsibility, a fiduciary responsibility to just reject it
that may be correct, clearly, based on the first bid who takes the first and last from the first person. i don't know what do you think? >> what i think is the board will reject it and yes, the board and the ceo believe they have a credible plan i don't think that the ceo is just appointed because hey, next one in line, next person up, they appointed, the board appointed him as ceo because in the interviewing process he knows no commodity within the company, he put forth a plan to turn the company around. so, look, there could be lawsuit, but there will be ambulance chasers coming out and saying, okay, pay me $200,000 and i'll get off your back that's all that's going to happen they don't even like shareholder suits for companies that get sold from $50 that are worth 100 that are actually sold so y they
will reject it my advice is move on there are other opportunities in the market twitter remains a cesspool it is always going to be a cesspool and it's a waste of time elon musk, however, is the one ceo, i believe as opposed to jack dorsey that can manage this company as well as spacex, as well as tesla because the guy is a genius high works 24 hours a day. he's got vision and i believe he dilutes personal wealth too much and not that he cares and dilute interesting so he can do it. i think antitrust will be an issue so no big companies are going to do it, and look, if you've owned twitter fair long time you've been runs in place, best case. >> that's part of the pressure that puts twitter in a box because they've been running in place and whatever plan they've had, it obviously hasn't been working and where does dorsey net out on this whole thing?
who knows? he's close to elon, apparently i don't know the answer to this. doc, you do have call, though. josh used to own the stock, and he doesn't anymore weiss wouldn't touch it with a 10-foot poll you you have options today. >> i do. selling stock. the stock was close to $52 a share in the pre-market and quickly turned from there to breaking 50 again to only being up 3%, and i guess that was, like, 47 1/2 and now it's negative on the day, so i think the market is tell young everything that you need to know that the board will do, reject that bid and elon's patience, how long will it last? probably not very. >> ten minutes >> i still own the 44 -- yeah. i still own the 44 calls and maybe just a two-minute egg, josh i still own the 44 calls and i've rolled down from the 50s to
the 44s. i'm short from the 52 all of the way to the 55 strike call, scott, because i don't see a lot of upside out of this one from here, and the premium that he was paying as he said in that note that, you know, has been circulated around, he was paying 54% premium to when he first started buying the stock 38% from when that bid was announced if it was 54.20 and if anybody wants to step in and pay more, go ahead, i don't think that happens. >> that's a part of the point. web bush says he's not sure if it gets down sell twitter stock on this full-blown elon circus and it goes on you, shannon to the point that josh started us out with he wouldn't touch the stock here, would you on the hope that there's a white knight out there? >> no. i think the board's been put in an untenable position now.
they certainly don't want to accept this bid, but you know, either way the outcome's going to be negative, i think, for them they don't accept the bid and that's clearly going to be what happens and we get into a situation when we go back to what josh was talking about, if we go back to what twitter affords its users and the fact that they've been unable to monetize that many people see their first and perhaps only outlet for social media. it goes to the fact that maybe the upside here for the stock is that could we actually catalyze a change in the business to create some value over the course of the next couple of years to create a wider, addressable market to monetize it that's a longer game i think we have to get past this particular period and i don't think there will be a competing bid and i think the board will dig in their heels and say we
have a plan to come to fruition over the next two to three years, and trying to naff 28 what is likely to be an emotional up and down over the course of the next couple daves if you are a shareholder i wouldn't enter into a position right now. >> josh, last word to you before we take a break. people don't tweet celebrities and even elon put out a tweet. look at these top ten accounts and some of them haven't sent a tweet out this year because there's no benefit to it so the paradox of twitter, unless you're elon and fearless or are actually looking for an uproar, the paradox of twitter is the more risk you incrementally are adding to your life or your corporation's life versus whatever potential which can only shrink and if you have a platform that's built that way, it's almost like an
existential problem. so big accounts go dormant as soon as there's more risk than reward and people stop engaging. we already know that 92% of tweets are sent by, like, the top 10% of power users it's a lot of progressive, political activists, alt-right people, bitcoin psychos. it's fun, right? they don't know nearly as much about these users as meta knows about its users and even as snap because people on snap, people on instagram, facebook, they're living their actual real lives and a pumped up version of it, but still, people on twitter are living in an alternate reality and it's very tough to monetize that in the in a way that zuckerberg has been able that's been the existential problem for twitter all along. >> that's why i use the word credible when i talk about a plan yes, of course, they have a plan >> the only, scott -- >> the only interesting plan
that i've heard, the only interesting plan, and i think this is probably along the lines that fred wilson may be thinking and maybe even mr. musk is thinking this way, let's see if this could be the first publicly traded company to go fully decentralized and become some sort of a dow. let's see if we can have a situation where we take all of this algorithmic stuff off this the media and the advertisers want and we clean up some of the free speech issues and we just let it fly and a lot of people will leave because they're not going to like what other people are able to say and whatever like, if somebody is really willing to put up that kind of money and claim that free speech is the main reason, they want to do that. maybe that will be an interesting experiment i don't know that that's feasible or realistic. >> okay. >> but that's the most interesting thing that can happen. >> let's do this let's take a quick break we mentioned the markets and rates are up and down the curve by 4%.
there's the ten-year and it's back at 280. the nasdaq's down nearly 200 and we'll come back and talk more broadly outhabt e markets and doc has unusual activity still to come, as well we're back in two minutes. and? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay.
of the commentary that we've gotten this week fed some moves in the market as to whether the positives are starting to line up, whether it's simply time to not be as negative as we've been the tom lee point of view. bad news is in the pp, red hot, market goes up. liz ann sonders, inflation data, she talked about krinsky, we cite limb a lot. more than 80% of volume was in the first time since march 16th and that did kick off a strong rally and currently we need to see back-to-back 80% update, and j.p. morgan raises gdp, is it time to be more positive >> yeah. well, i think there's a lot of oscillation between people who are calling for sort of the demise of the u.s. economy two weeks ago and now all of these trends are starting to improve and i think that's what it's about and if we talk about not only a technical perspective and
on the market side, the trend needs to be your friend, and the trend that we are starting to see which i think is a positive, people looking at the trend rather than these top-level data points because i think putting those top-level data points in a historical context, anything that you're talking about right now, you're talking about an inversion saying this doesn't fit in, you know, the equation of what we've seen historically for inversions i think that the other thing that we have to think about is where is the softness in the consumer economy where is it going to come and how is that going to impact some of the areas and the industries that we've been looking for to rebound in the back half of the year is it going to affect services or goods more? is it going to affect increasing spend on health care i think what we're doing from a stock market perspective, yes, it's going to be slower, but maybe not as bad as we thought and in the backdrop of a slower
economy, but still a positive economy, how do you want to be positioned and are we seeing some, not only economic trends improve, but perhaps a tailwind for factors such as quality and an emphasis on things like free cash flow that we haven't seen that afford us some opportunity into the back half of the year >> so sentiment, obviously, is is bearish, to say the least, but spoke today and talks about the aaii, and that's the american association of individual investors their reading came in at just 15.8%. that's the least bullish individual investors have been since september of 1992. the cnbc, all-america survey, only 28% of you thought stocks were a good place to be right now. that is the lowest rating in the 15-year history that we've been doing that steve weiss probably voted in that because he's a market hater, right, weiss? >> yeah. >> i hate the market and i'm
beginning to hate the bulls because the bulls are beginning to hate the market from bottoming. say it bottomed already. >> well, maybe it did, and we haven't had the 50 basis point tightening and you went from a coordinated global easy money policy, free money, not even easy, free money to a global tightening europe's going to tighten, asia's going to tighten eventually, we're tightening so the market's not going to go up, period >> the bond market's done some of the fed's work for it, steve. we have had a 50 basis point tightening if you look at interest rates >> undoubtedly, but we'll have more of them >> so the market knows that. >> so many people -- the market knows. does the market know that earnings will be down, that margins will be much lower no because the analysts and the
s&p earnings haven't come down meaningfully less than 1%. you can't tell me the market knows it when the estimates haven't come down so who exactly knows it does tom lee know it the parable? he's great, but i think you've got issues here. we overshot on multiple expansions on the upside because of free money. doesn't it make sense that there's a possibility we can overshoot and stay down lower to the down side as earnings come in poor? as margins get hit of course, it does so you've got to stop being so bullish, everybody, to account for its bullishness. >> what do you mean bullish? > >> yes, everybody. >> who's everybody >> scott, it doesn't -- scott, as i've said in the show it does no good to talk over people. the aaii -- >> yrwhy are you talking over m,
then [ laughter ] >> you mess with the bull, you get the horn, baby [ laughter ] >> the aaii has been worthless for years. who cares? okay, it's the index funds yeah it's retail investors going in there, but the facts are i think they stay down here and i don't know they go down another 20%, but i don't see a 20% rally and i don't see a 10% rally and if you do, do you sell it because it's coming back down. doc? >> this is an unusual period >> it's not different this time. i hear you, dr. j. >> it is different this time it is different. >> you see how riled >> i agree with you on that. >> do you see how riled up he gets everybody's negative who's positive five people are positive who else is positive should you be more positive? >> raise your hand if you're positive >> that's what -- scott minerd the other day says when i hear the fed get this hawkish i get
bullish. >> and i'm not surprised that scott, a very smart guy, market analyst from guggenheim would say that and it doesn't mean that he'll be right or that i am right, but it certainly feeshlgs sc feels, scott that a lot of the moves that the bond market hassy made already which are substantial and pushing hard in the yield and praise down yield up again, and i think the, you know, this three handle which isn't far away, 20 more to the upside and we're there i'm surprised that we got as quickly back to that 280 whatever that we're at right now, scott, and i do think that you could see all that negativity that you cited, perhaps reverse because people are too negative steve, and i love you to death, but i don't know where these positive people are that are out there -- >> they're just rosy with those
bulls. >> i don't know where they are >> we have 30 seconds. >> jon, jon, jon, jon -- >> that's 20 for you >> jon, scott, whoever, name one strategist -- name one member of this panel, aside from me and one strategist aside from mike wilson who has come on the show and is not bullish name one >> not bullish of course -- >> you can't >> name one strategist, you didn't name mike wilson. i have to mention mike wilson. >> i said name one except for mike wilson. >> you said brian belski too much because he has the highest target >> no, name one. >> jon has a -- don't talk over me, like you said. we have unusual activity coming up we're back after this. hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here.
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russian navy'sflagship in the black sea, but a senior defense official says it has experienced significant damage with what's being called an extensive big fire that appears to be still burning. the ship, still afloat, is moving toward crimea ukraine says it hit it with a missile. russia claims the damage was caused by an onboard fire. >> stephen miller appeared for testimony for the house panel investigating the january 6th attack on the capitol. that according to nbc news no word on whether he is cooperating and answering questions. in a subpoena, the committee accused miller of helping to spread lies about supposed voter fraud in the 2020 election and as he prepared to sign a bill banning abortions after 15 weeks, florida governor ron desantis said the measure provides the most significant protections for life that have been enacted in the state in a
generation there are no exceptions for rape, incest or human trafficking. scott, back to you >>, thanks so much. it's time for unusual activity dr. j, tell us what you see today. nike, for the past couple of day, scott nke shares have been on fire from the 125 to about 133 level, something like that and they're buying the -- september 135 strike, and by the way, i'm in those nike calls at the 130 strike they're buying in the 135s second one real quick. far-fetched, ftch, luxury goods, digital sales and so forth these guys dropped pretty big today and on that dip, somebody jumped in and bought a lot they bought 5,000 of the may 15 calls, a dollar out of the money and lastly, tlt, when this
trader, whoever it is trades, they've been right and right and right. they're buying again, scott, puts to the downside they're betting that rates go up because, of course, if the bond goes down rates are pushing up and they expire next friday. they bought 20,000 that's 2 million share equivalent it's a big trard,der and i firs talked to you about it and now 125 and now they're buying the 120s with the next week expiration >> doc, thank you very much. we'll take a quick break and when we come back, we have earnings from the banks today. weiss has goldman sachs and we have some other ownership there and tom lee is talking about beef we're going to explain it's about what you should be buying right now
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was getting creamed earlier when i saw it dr. j, you have calls. i'm told the stock's coming up and it is so ugly they don't want to show it to you >> thank god doc, here's cramer cramer said the following. i was disappointed by wells and i made a mistake not selling it at 54.55 i'm extremely disappointed in charlie scharf when i see this it makes me angry. >> well, it makes me sad, not necessarily angry except as myself i don't think mr. scharf could really have done a lot better in this quarter we've only really seen citi come out with some really stellar number, scott. the rest of them not so much and it's a tough environment for these guys, so i've written upside calls as i usually do against calls that i own on these banks and that includes bankamerica as well as wells and
j.p. morgan. so what i'd like to do, scott is collect about 3% a month we slammed through that this morning. so, in other words, i don't have any protection left from that covered call i haven't wanted to roll it down yet, but that might be something i have to do >> morgan stanley is one of the top s&p gainers. let's talk goldman, though, because that's what we have ownership on today's show. steve weiss, you own goldman there's the stock basically doing nothing. it was a beat, top and bottom. >> yeah. and i appreciate doc's self-analysis, but stay away from my goldman. they did perform, and they did beat top to bottom, which is unbelievable in this environment. so, look, the cream rises to the top. this is one of the best franchises in financials b of a, of course, i own it being another and they'll have a decent quarter relative to
expect egg expectations and to the point that everything is priced into the market, i guess this wasn't and to the point that the market is a bear market look at the stock after earnings and i will continue to own it and it's one that i've not shared and the yield curve will steepen and they'll do well regardless keep your comments to itself >> shannon, do you buy that that these things are going do well i mean, because the stocks are meh, right >> it's been a challenging time. we've been very diversified. we own j.p. morgan, but we've been diversifying our financials' exposure exchanges on names like schwab because we think that will be a continued challenging environment for large money center banks over the course of the next couple of quarters the cfo will be in the closing bell and it's a first on cnbc interview. >> the firm says it's a place to hide amid the uncertain economic
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let's talk ibm it was upgraded to overweight and it's growing economic risks and it's one of our calls of the day. shannon, you own it. let's just call it like it is. you don't feel like it's upgraded all that much nor do you often call it a place to hide during growth, economic risks. >> yeah. it's, i mean, it's an interesting call you know, really like the stock. it's got a strong dividend yield and we're coming into earnings next week and the focus will be on red hat and softwear growth they're repositioning the overall business and pivoting and it's an important acknowledgement that they ton re continuing to return capital and while it is a safer space during the technology sector and it's not just a sit and wait staple of the sector as some have described it >> why isn't it going to be,
right? i think it's, like, there are a lot of bears on ibm who would say what is going get this thing going? everybody talks about the same story, right cloud, red hat, the integration of that, the new ceo a lot of respect for him the stock hasn't done anything in a year. why is it going to be any different this time? >> yeah. it's all about execution, right? and we used to talk about this for intel ad nauseam what we are looking for is they are moving into it ask red hat is a very successful brand for them and if they can continue to create additional success off of that platform, that is where the catalyst is going to be for ibm. there's an execution question, but again, you're getting paid to see if they can execute on this new business model and the transition business away from the legacy business is a kit cal
change that if they can do it properly will create this as a growing enterprise for the next three to five years. >> josh, do you touch this thing? >> it's dead money it's below the 50 and it's below the 200. it's in the middle of the range, basically no-man's-land. i don't think there's a ton of risk to the down side. maybe the right way to think about it is take the 5.25% yield which is still a pretty high yield even given what's going on with rates and pretend it's a convertible. so if and when it ever does break out to the upside, it's like you had the convertible bond turn into an equity it's not a bond, it's boring >> shan, i don't think we need another word on ibm. i know how you feel and you think that it will with better execution and other things and honeywell is the catalyst call idea at deutsche bank and the price target goes to 230 and you own that, as well. >> yeah. we've been talking about he
honeywell for a couple of years and we talk about the undercurrent of technology outside of the technology sector, and if you think about the way that honeywell executes on its business, it's continuing to grow its operating margins by focusing on the execution and the incorporation of technology in its processes it's hard to get people excited about what you're doing, but if you're looking to find companies that continue to innovate and disrupt and have a cyclical tailwind like honeywell should have over the course of the next couple of years, it's a great big levy in the industrial space to add to the portfolio. >> doc, do you like it or not? >> do i. i like honeywell, but i see everybody moving their price targets down even though they reiterate their buys and that tells you an awful lot that the analysts aren't looking for as much upside as they were a week or two weeks ago stay with us we will take a quick break we'll be right back. we have some earnings next week
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♪ let's keep that wall up for a second the ten-year is moving higher. 282. as the ten-year gains in yield today, the in yield today, nasdaq sinks. 1.75%. 234 nasdaq red across the board not that much obviously on the dow. s&p's down shy of 1% a loss of 38 points. having trouble trying to put two or three decent days together. so, guys, want your opinions on this josh brown, start with you spoke with tom lee in "overtime" yesterday. not a new idea from him, but when you are still sort of pushing or doubling down on ideas in this environment, it's relevant i think says you can buy, acronym,
b.e.e.f. bit coyne, energy, and faang what do you make of this call and whether energy can continue to rise? a good strategy going with the b.e.e.f. >> i love tom lee. bitcoin as boring at the stock market now literally, every day wake up and can't wait to see. 39,000 or 41,000 literally, who cares until crypto markets break out it's like one of those things on your desk with the metal ball back and forth it's definitely not digital gold looks more like digital nasdaq nothing wrong with that. i'm a crypto loser also. >> i thought coinbase? >> i own all that. you wouldn't believe the things i bought look, sometimes -- sometimes --
it's worth remembering that marketing corrections happen through time not always through price and grind you down, because you're watching the same breakouts fail right where they should happen and trapped in that vix range right? 1920, people way too pessimistic. 28, 29, calm down. relax. fed hiking end up in a no-man's-land with nothing happening. where we are now kind of doesn't make for great tv but what i do. tell people the truth. any hobbies, yardwork thinking about getting to that's really what's happening right now. nothing but a lot of planting. >> okay. in other words, go eat lunch, i guess. >> weis, energy and faang? energy has legs, some suggested running out of gas the idea you can buy faang and netflix earnings next week
what's your view here? >> hey, i'm that rare person who didn't make a dime in energy over the last year, two years. missed it all. definitely not getting in at this evel. although i think current prices are sustainable, but the companies can pick up their budget in terms of deploying cap x, shareholder not to spend in prior cycles and will catch up because underspending on it. in terms of faang? yeah i've got faang exposure, think they're hold tight but wouldn't buy them here. look to buy lower. remember, scott, i'm a bear. u yes, you are. yoare a notable bear. >> i am. >> okay. take a quick break "final trades" coming up next. the pursuit is on. the pursuit of outperformance at pgim.
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all right. earninging next week i was told as we xpo logistics xpo. weis bear man -- that's a new 52-week low today down 5%. was up with that >> yeah. and let go behind the scenes reason you were told about it i told patty our crackerjack producer. >> all right thank you for doing that if it can add aggravation to the rest of this program for you all for it 5% down. what's going on? >> it is add this to my list of haters. i hate the people selling this stock. okay i hate them with a passion today
because they're causing me some pain the fundamentals are excellent yes, freight prices down but two assets tremendous value creation going on here. most technologically advanced freight broker spun out. have to wait few months for that and gxo, seeing as andy jassy said today in his interview with andrew ross sorkin 1% of the world is online commerce guess who's right in the heart of that? gxo. yeah tough time this is a tough time for me as i think about these stocks but i'll get through it, scott and appreciate your concern. a lot higher six months, a year from now. >> staying with them >> you're damn right, scott. damn right. >> that's true conviction from you, steve. >> sorry to talk over you then. >> no worries. shannon, look to earnings next week anthem, bank of new york, schwab, anthem -- what are we
thinking optimistic that's the heart of earnings season starting, right banks kick us off, but then start to get into the nuts and bowls of earnings. >> yeah. with unh this morning look at anthem and the loss ratio that's coming through for them. started to be, start to see improvement in inthem in the multiple already we expect that to be a good report next week from my vantage point, look at schwab, bank of new york we've got a couple of financials that aren't necessarily going to trade exactly in line with wells and citi as we've seen and so just looking for the sum of the things we've seen already continuing into next week, and anthem and schwab i two with good reporting, i think. >> netflix 40%, 50% off of its high you own that, too. stemming out or what
>> well, i was going to say. related to tom leigh's comment i think faang is like the new brick. right? going to start to be dispersion between these names and i think that netflix will have to show that it deserves the multiple it's been afforded as a high-growth stock over the next couple years a lot of comp tilgs here i love the content and creation. first mover advantage but need to show they can maintain that through the next two to three years. >> a quick "final trade" from you when i could. >> final trade is schwab little market, little credit risk here. >> doc, you have netflix calls favorite streamer as well. you'll be looking forward to that earnings. your "final trade," please >> well, they added thumbs up to the netflix app. check that one out, scott. national oil well nov, stock nearly doubled since december. going a lot higher
buying upside calls. i bought those. >> mr. angry >> sorry is jim lebenthal on or are you referring to me, ah -- cash. what do you think? had to ask cash. >> well, okay. dan niles. josh brown, quick. >> better than cash. shy. 30 day s.e.c. yield 1.5% no call strikes in this game. >> see you in "overtime. "the exchange" is now. thank you very much, scott hi, everybody. i'm kelly evans. here's what's ahead. made and offer 12-character tweet that sent people into a twizy. elon musk wanting to transform twitter and take it private. how serious is this is bid how would he finance it? did he just open the door for someone else to swoop in with a counteroffer get to all of it as twitter shares turned negative