it's still up 22% this week. >> pretty incredible just to go back to microsoft, we talk about apple and meta sort of joining that club as one of these big high-flying high growth names that has a dividend microsoft is the other one what does it do to amazon and alphabet >> dividend doesn't make you a d dinosaur. >> that is going to do it for us at "overtime." live from the nasdaq marketsite, right in the heart of new york city's times square, this is "fast money" and here is what is on tap meta surging after earnings, clocking in its third best day of all time, and it wasn't the only mega cap moving higher. the biggest tech names at or near their all-time records, can you still make money buying them. plus, an energized trade exxon and chevron bucking the impact of lower oil prices and posting beats. later on, big tech results

may be in the rearview mirror but next week there are a ton of big names reporting, cat, lilly, disney, uber and more. we'll talk about the radar screen i'm dominic chu in for melissa lee tonight. on the desk tonight we have tim seymour, and steve grasso in the comfort of his home. we start with a news alert fed governor just making some headlines at the top of this hour steve liesman joins us with what she's saying steve? >> thanks very much. fed governor michelle bowman is one of the more hawkish members of the committee, making comments saying it will eventually become appropriate to gradually lower the fed funds rate if inflation continues to decline. she says, however, they're not yet at the point to cut rates. she sees inflation declining, she's encouraged by the recent decline in inflation, but declining with the policy rate held at the current level.

upside inflation risk remains. she mentioned geopolitical situation, the easing of financial conditions and continued labor market tightening, she's indeed talking about the december jobs reports and it shows strong job gains. and the recent reports, both months, she says progress has stalled on restoring balance to the jobs market. she's concerned that labor market tightness could lead to persistently higher core service inflation, she'll remain cautious in considering future changes to policy. reducing the rate too soon could require future increases, as she had said in the past, she remains willing to raise the funds. we'll talk more about the fed and this jobs market, but for now back to you. >> thanks a lot. michelle bowman headlines. we're going to get right back to you in a few minutes on today's big jobs number as well. let's turn to the week that might have been proven that big tech is still in its leadership position and that leadership is here to stay

investors fear of a tech reckoning wiped out by a massive move in the shares of meta those shares today jumping more than 20% for a mega cap technology stock, after posting a huge profit beat, giving better than expected guidance, and announcing its first ever dividend, closing at a record high today's surge adding $2.6 billion in market cap that's more than a cisco systems in just one day of trading ceo mark zuckerberg made $28 billion himself on the move. the rally heightens the outperformance so far this year. the market cap weighted s&p is up more than 4% in 2024 and it's still young. the equal weighted index is basically flat there was a lot of fear that big tech's run had come too far, too fast, but did this week's results prove the gains were actually justified, and this is where we start karen, you're in meta. >> yes >> it's actually a fairly decent

position for you what are you doing now >> yes, i mean it was delightful on the one hand, but then it's, oh, shoot, now what do i do? it's bigger, so as a portfolio management issue you've got to decide how big do i want any position to be i didn't do anything today, but i will be selling upside calls, something probably at least one quarter out, maybe two, and probably like in the $550 range. we'll see how pumped they are. i've got to take some money off the table. it's different than selling stock. if the stock were to go down, you sold calls, that's nice, you make a little money. i don't want to be out i do think this was an extraordinary quarter and one could argue it might be better today than it was yesterday. i don't know about that. but i do have to just look at the exposure. >> it's interesting. it's not uber bearish, just

bearish a little. >> it's a dynamic, back to karen's point, look at least at what the street did. they didn't just say price is higher, so i'm going to put up my target. a ton of respect, upgrading the multiple on the stock and it's based on the vision in the company, and especially in a world where they have free cash flow and this was not just the year of efficiency, but a quarter of free cash flow. and so if you're talking about 23 times, then suddenly you've got a company that you could probably put at a 24 or 25 multiple that changes everything, because, again, we were an 18 multiple six months ago. it depends on what you want to pay. back to the point about the equal weighted, small caps have underperformed, the market weighted, by almost 5% small caps were down today it tells you what's going on with this market

i think there's a lot of fomo to miss out i think a lot of that money is in money market funds is money that says, oh, man, and i thought this year it was going to trade down and i would have to chance a buy. i think we're going to see more melt up. >> so tim talked about the difference between the 7 and the rest of the market i want to make sure i don't conflate meta with the rest of the seven. this is squarely a meta story and in terms of multiples, adding all of that market cap and that move in one day, given the size of the company, would give one pause you don't expect this to continue unabated to the upside without there being at least some type of profit taking, even if there's no adverse bearish type of sentiment. to tim's point about free cash flow, i think any time a company comes out and issues a dividend in the upper echelons of the growth sector, it says two

things one, we're in a strong cap position and we're happy to return value to shareholders, and, two, perhaps we find this is a better way for us to return capital than any other investment strategy one may have so i think this is a complete 180 from the days when meta seemed to be spending money frivolously without capital discipline so there's really not much to knock on the quarter, and underscores the importance of these companies within the s&p >> grasso, it's, for the record, 36 times forward earnings. what do you think? >> yeah, so if you look at it, you talked about -- tim talked about the year of efficiency the issue is they cut costs by 8%, their operating income is up over 150%. so pick right up -- so that's all good stuff to pick up right where they left off, it's great when they're cutting costs. the market doesn't like when they start to spend an atrocious amount of money on the

metaverse. if they continue to cut costs and run efficient, it's great. if you look at the technicals, everyone covered a lot of the fundamentals, technicals on the stock a year ago, it had a golden cross, which means the 50 day moving up through the 200 day, and the stock has not looked back. if you expect it a pull back a little bit, of course, these flagpole type days are usually sold, to karen's point where she started, if you're a fund manager, you have to trim. it depends how much, but i would expect some trimming in the next couple of days but when you have revenue growth that is top line revenue growth, best in two years, there's not a lot to complain about at this print. >> karen, a last thought because you have that large position. >> right i know the feeling >> the stock got hammered because they said they were spending too much money.

apparently now it's all going to work out for the better. >> apparently. just the strength of this, steve talked about it, you know, that acceleration of growth is really quite tremendous i think it's in the mid-20s, not a higher multiple. so that is not crazy and i think, also, it came from a place between it and alphabet, they were the cheapest of the mag 7 or whatever they are left now by far so this is some catchup, plus some fomo, plus maybe the dividend thing, which i know you think that's important. >> karen and i debated, for the folks at home, we debated on our midday call, i said of how much was the -- >> there's fomo in there. >> i think of the 21% move today, i was arguing that half of that was related to if they had not announced a div, and the buyback, but the div specifically, i think we would have done half today karen pushed back hard. >> is that just because -- first

of all, the implied dividend yield is nothing. >> exactly. >> it's absolutely nothing >> it's not just that. that means this opens up the market for certain fund managers who have mandates where they can only have investments in certain dividend paying stocks, even if it's just a penny a share. right? this is an accessibility thing for more money to come into meta. >> typically within another framework, essentially what you're saying, the possible investor base has been expanded. that coupled with the fomo, if you will, coupled with the fact that you aren't necessarily seeing the same strength in others even within the technology complex, all served as tailwinds for these shares. >> sad about google, underperforming. that's a big position as well. i thought the cloud was good, but then when i saw this today, that made their earnings even more disappointing. >> they just stole the show.

>> the story, like when apple really stood out there and said we have a lot of flexibility with our balance sheet to do different things, and even during a period where they haven't been growing earnings, they've been a go-to in terms of their ability to buy back shares i think when facebook when you go back to the days of the metaverse, when it was going sour, all people wanted them to do was get off of the ledge and get back to their core business, which is a cash machine. the gross margin on their core business is through the roof so all we've been saying is get back to a place where we can look at a company and maybe, first of all, plenty of innovation, and that's a lot of what's going on, but even if we had their core business before ai, people thought this was the story. i want the free cash flow and i'll be comfortable enough with that that's what they delivered and now they're giving you both sides of the aisle. >> steve, i'm going to give the last word to you >> i just want to jump in and defend alphabet, not that it needs any defending on this desk because everyone really loves it if you look at search, alphabet

is at 92% market share that's unbelievable with the competitive market that you have now. the second most visited site is youtube. if you look at where they are in cloud, they're third behind aws and azure, microsoft this is going to be a great year technicals on alphabet, the market gave you a present here stopped almost to the penny on its 50 day i'm looking for more strength going forward, alphabet. >> all right so let's turn now to the economy. because it added more jobs than expected in january by a lot nonfarm payroll growing by 353,000 jobs, almost double consensus estimates. let's get back to cnbc's senior economics reporter, steve liesman, for more on that big job story and then we'll talk about why it didn't tank the tech market. >> yeah, dom, i think the story was both the strength of the number, which i would sort of attenuate because the seasonal

adjustment factors may have played a role, making it hotter than it otherwise would appear but it was still pretty strong i was looking at the revisions which showed 126,000 plus, revisions for the prior two months you have two months in a row of plus three and then you've got to worry about what bowman is talking about. do fed officials start to think the progress toward the loosening of the job market has stalled. and certainly what's happening, there are the nonfarm payrolls and the hourly wage numbers. which i don't really like those numbers so much from the government i tend to follow the adp wage numbers, they have been on the way down on a year-over-year basis. if you look at the probabilities, march has been dialed out and some questions now about is may the right month. the fed i think is going to take a couple months to make up its mind and powell, i think, is

looking from wednesday saying we should relax here and let's look at more data >> steve, i know you want to jump in here >> yeah, i'm sorry so, steve, i've been talking about this for a while can the fed still have quantitative tightening while they are cutting, or is our signal going to be when they stop qt? because it seems like there's a push/pull and i know you can handle two things at once. the second thing is, with a political year, election year cycle, don't they want to stay as politically agnostic as possible and try to frontload those cuts maybe there's an opening for march to smooth out the chart. >> yeah, i don't think march would be a reason to do that i think they can still achieve the same effect of staying clear of the election by going in may, maybe going in june as well. goldman has those four

successive cuts built in now, starting in may. i've been, as you know, in the every other camp when it comes to rate cuts i think that powell wants to go kind of cautiously here, so he might want to cut, take a break, cut. he may also want to do it beginning in june, which would have the benefit of going on the meetings when they have the summary of economic projections in the forecast. and, yes, they can and will, i believe, be cutting rates while they're still reducing the balance sheet. those rate cuts are expected to happen sometime in the spring or early summer, but the quantitative tightening is not supposed to end or is not forecast in the surveys we do, to end until sometime in the fall. >> steve, it's karen i heard you this morning and i wasn't sure i got it quite right, it was sort of a little bit in the background. i perked up when i saw you there. did you say that you think chair powell knew these numbers or did not know these numbers when he really took march off the table?

>> i'm glad you asked that question i was sort of joking around. i said, maybe powell knew something about what was going to happen, and really what i was saying was that he made the right call by being cautious on wednesday. i don't think he knew something. there's some possibility that they get one piece of the jobs report for another report they have to put together but overall the fed, as i understand it, does not get those numbers, not by wednesday. they're distributed on thursday night to a few people inside the white house and maybe at the fed. but not by wednesday. >> steve liesman with the report there on the state of the jobs thank you very much. tim, let's send it over to you what are your thoughts >> all of this underscores the job numbers, financial conditions are extremely loose, the stock market is running crazy. yields have come down a lot. it just tells you how turbocharged we were coming out of covid and all the a accommodation, and frankly why the fed and all of us have never

seen this before the fed is obsessed, the relationship between the job market and inflation i think they are so folk id on this and that's what weheard powell say the other day i think the numbers push the fed significantly back granted, we have a couple more payroll numbers before we really get to the time we thought they were going to hike one thing that's an economic dynamic, a cut isn't necessarily easing so, in other words, if financial conditions are becoming more restrictive and they're not cutting enough to get below and real rates are continuing to go higher, they're actually in a restrictive mode that's what some people think is going on that's a topic for another day. >> i think all of this makes the fed's job that much faster and i'm going to dare step out on a limb and say if we continue to see these numbers, wage growth, payroll numbers, i think these might get us to a point where we start asking the question, is the fed actually going to pivot from cutting within this

calendar year. if you look at what the probabilities were on the march cut coming into the year, it was a given. now we're saying that it's even unlikely it's going to happen in may. >> one in five chance that it happens. >> what are the chances that we have a strong enough economy and labor market where cuts are actually taken off or at least pushed back to the last quarter of the year? what are the implications for the market if that happens coming up, we're catching up on today's high energy earnings. we've got chevron, exxonmobil posting results. what's next for the sector coming up after this plus, apple's first new product in nine years is now on sale so can vr make a dent in the ai trade? we'll get more details on all the acronyms after this. you're watching "fast money. here on cnbc we'll be right back. ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds.

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join xfinity rewards on the xfinity app or go to xfinity1stand10gs.com for your chance to win. welcome back to "fast money. a big day for earnings in energy, exxonmobil beating estimates, even as revenues fell short of expectations, ceo darren woods saying energy prices and margins started to normalize in 2023.

chevron seeing shares rise 3%, saying they returned a record $26 billion to shareholders in the form of dividends and share buybacks last year steve grasso, is this the beginning of an energy renaissance for the big oil companies out there? >> i don't think so. i think oil had its time about a year ago i think all these energy stocks had their time, their day in the sun. tim talks accurately that these companies are run more efficiently than they have been in the past. that doesn't equate to higher stock prices they can't break away from trading and tracking the underlying commodity, dom, and right now it seems to be with all the geopolitical news, the state of the world we've had, oil should be trading 30% higher it's not it's oversupplied. that's a negative headwind last thing, if you look at where hess and chevron and exxon and

pioneer announced their mergers, all four of those players are lower today in stock price, negative for the market. >> tim, what do you think? >> i think that the valuations in the sector have never been more attractive relative to the s&p. if you look at the multiple, ebitda, i look at what chevron did. again, we're talking about the word record, record for chevron. record in terms of buybacks and div payout they raised their dividend another 8% they break evenly, probably around $48 oil they brought their debt down dramatically i love energy, i love it in this year you're not getting the growth you're getting in other places, but i think in chevron's case that deal with hess is fantastic. the assets are some of the best in the world on the upstream i like chevron a lot and i like exxon. >> quit thought to you. >> i just think the current rate environment makes a dividend

attractiveness of the companies, it has a dampening effect. i think over the longer term you probably want them based on valuation and free cash flow and share buybacks alone but if you're playing the fast money game, which we are, the opportunity cost of investing here and not in growth just makes it tough for you to own them. >> there's a lot more "fast money" to come here is what's coming up next after the break. a new vision or apple. the tech titan unveiling its flagship vr headset, but can the hype live up to its hefty price tag? we'll debate plus, more trouble for tesla. the ev maker recalling more than 2 million cars its second major recall in less than a month so with the stock slumping, is now the time to kick this tesla to the curb? our traders are revved up on this one you're watching "fast money," live from the nasdaq marketsite in times square. we're back right after this. personalized financial advice from ameriprise can do more

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the nasdaq surging nearly 2% boosted by meta platforms. the index less than 3% away from its own record high. but it wasn't all smiles charter communications plunging as you can see, more than 16%, after a big bottom line miss before the opening bell. are there any other moves in the market today that have caught your eye besides meta and charter? >> i looked at anything that was real economy under pressure today, and i looked at some of the miners i have to be consistent and say i was way wrong in terms of making a call to buy something today. i do think you have a dynamic where you look at some of the industrial names it was a tough time. charter and some other parts of the communications space, look, after a very good run -- again, if you look at the charts on at least the verizons and at&ts, they've had a good run and those things were under pressure

4% is like a 15% move for a tech company, and that to me is interesting. small caps were down a couple percent on a day when you saw most of the market go higher it shows you the divergence we have. coming up, apple's new vision, we'll dig into the new headset. the first new product in nine years, will it live up to all the hike plus, disney, chipotle, headline a huge slate of earnings coming up next week we'll take a look at the reports and economic out ou the options market is setting up we've got more "fast money" coming up after this. missed a moment? catch us on the go follow the "fast money" podcast. we're back right after this.

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okay, so what you're seeing on the screen is apple's ceo tim cook greeting customers at the flagship store right here in new york city, 5th avenue this morning, as the company's new vr headset goes on sale the $3,500 vision pro is the first new apple product since the apple watch launched back in

2015 the stock, by the way, closed down by a half a percent or so today, well off its lows of the day. it had been down more than 4% after the company hinted at a slowdown in iphone sales and weakness in china last night can the vision pro turn things around joining me now is life wire's u.s. editor-in-chief, he's got the headset with him right now is it worth the big sticker price, the $3,500 question >> well, you know what, almost here is the thing, it's an incredible piece of technology i've got it right here apple keeps talking about spatial computing, they want people to think about that and not necessarily think about augmented or virtual reality this is a compute on your face that does so much more than what a virtual reality headset would do

it's got the best resolution of any vr headset or mixed reality headset i've worn. everything about it feels high end and the experience is transformative it's something special but the reality is, i can't imagine that a lot of people are going to drop $3,500 for this, because it's just so much money. you can talk all day about what a powerful piece of technology is, i can control it with my eyes, but, you know, that's a lot of money >> lance, that thing is a piece of serious hardware. >> it really is. >> the question i have, how heavy is it? is it wearing like a weight? >> it weighs 1.3 pounds. i think you can see there are a couple of bands, right and that is actually not the default band it ships with two bands. i needed to use this band in order for it to be comfortable for me, to get support on back

and the back but this is the first vr headset, first mixed reality headset i've ever worn for literally hours, and that's because you do more than just play games, watch movies, browse the web. you get work done. so i connected to my macbook pro and pop up a virtual mac screen, and it is about 150 inches wide, and i have all of my apps going on and i'm able to do work in a way i've never done before, because the resolution is so good it's not like, oh, it's so big, i can't read anything. i can read everything and i can move the screen around with my fingers and put it wherever i want i just work and sometimes i turn and i have some fun. but that's something that you don't normally do with a headset like this. >> it's karen. thanks for being on. so it looks like something that a couple of years from now we will look back and go, wow, that

was kind of a clunky looking thing, and maybe it's going to be very different. how do you think about it versus the ray ban? and i know they have different uses, but how do you compare the two? >> there's a certain subtlety to the ray ban, it's basically a partnership, and you're getting sort of just a little bit of information. it doesn't have the kind of -- it doesn't have screens like this, it's not really in the same category, honestly. but it's the kind of wearable that more people will wear because no one will look at them and go, what is that on your face and, honestly, i've been wearing this around the house and i do get those looks from my family, like what exactly are you doing? because it's so unusual. >> lance, if i can just ask you, would you mind putting it on for us, just for a moment so we can kind of see what it looks like on a person?

>> can you put your glasses on you have to take them off. >> no, very important to know. by the way, i am using the technology from tech radar i meant to tell you that one thing to know is if you wear glasses, you will need these inserts that cost $149 they have your prescription. you cannot wear your glasses while you're wearing these so if i put this on, it's going to turn on right away. i can still see you, by the way. so what i'm doing is i just logged in. you can't see what i'm seeing, but -- well, the way i do things is i move stuff around, i just pinch to activate something, basically, saying open this up if there's a window i like, i pick it up and i move it around. you can't see that but if we were in the room together and we started talking

to each other, what you would see is something called eyesight my eyes would start to appear here the camera is on the inside and it takes a visual of my eyes and recreates them on the outside. i will say it's a little weird it doesn't look fantastic. but it's a way of still staying connected with people on the outside. there's something they call personas, which you take this off and you shoot your face and it creates a 3d rendering. when you're on a facetime call, that's what appears. not you with the headset, but with this 3d. >> lance, for $3,500, it better do a whole bunch of other stuff. thank you very much and thanks for showing us the hardware. we appreciate it have a nice weekend. grasso, let's talk about this it's $3,500 bucks, first new product in nine years. is this something that maybe moves the needle for you investment thesis-wise on apple? >> first of all, i'm usually an early adopter.

$3,500 is too much to be an early adopter i don't see the computing pulling me in. if you look at their earnings, they had strong double digit growth in emerging markets tim talked about the word record when it came to chevron, record install base and record number of upgrades, four of the six best selling phones in china the stock on the technicals dipped below its200 day moving average for a smidge today watch that level, 182 1/2. i would be a lbuyer around these levels. >> our todd hazelton reviewed it as well and calls it a future of entertainment. it's almost time to reveal our chart of the week. what had shares revving up, that's a clue, and later on, the biggest tech earnings may be behind us, but nearly 100 of the

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week general motors, the stock gaining more than 10% for its best week in two months. on tuesday the company reporting a better than expected q4 result and gave strong guidance for the current year tim, you point out gm is now 46% above its 52 week low it made back in november. >> yeah, this has been a major turnaround we've gotten through the strike. i think this was a story about a company that -- this is always the case, they pop on earnings because they actually deliver decent numbers the company has never been run better in recent history the guidance they gave on the north american, the old ice engines, was fantastic the core business that gets no credit is the one that i think is starting to give people the dynamic. the whole concept of where you actually have hybrids that are beginning to look like maybe the futures now, even though gm has invested a lot, it gives them credit on the core business. i think you stay long. >> what do you think, karen? >> i didn't stay long, i gave up too soon and that was not the

right move it's not crazy expensive now by any stretch. i come back to the ev race, which i think will be on again at some point, and they're going to be, sadly, very behind. >> what do you think >> i wonder what it essentially says about the ev space because they were the ones that came out and said we're going to push back the push to ev. you've seen weakness in ford versus the strength in gm. there's still a real demand case for the old combustible engine and the immediate push into ev may be pushed back and the concentration on the old economy might be what drives earnings forward. >> let's talk tesla. shares under pressure today after the company recalled 2.2 of its evs due to warning lights that regulators say are too small. with the stock losing almost a quarter of value since january, could investors proceed with

caution? steve, the ev trade. >> yeah, i mean, in the ev trade, there's tesla, there's everybody else obviously tesla's stock story is an elon musk personality story i'm not a hater of elon musk, but a lot of the investment community seems to hate him and want to take it out on his stock. he's got a world of headwinds coming at him right now. when you look at evs, the federal government kind of pushed these mandates where everyone was trying to get off of fossil fuels. they pushed it a little too hard, you've got to see us transition into hybrids first, then full electric so i think you're seeing a confluence of events that are definitely impactful to the stock, at a certain point you get back to never bet against musk for any extended periods of time we're not there yet but getting close. >> the conversation we'll have at another time is how toyota is benefiting from hybrids. anyway, tesla's stock is far underperforming the rest of the

magnificent 7 so far, and of the six that have reported earnings, it is the only one of those that has missed expectations. so if tesla were hypothetically kicked out, who should replace it karen, this is controversial what do you think? >> yes, i don't feel like i need to replace, but that's not the game we're in. we've got to play the game i just went with service now, which was clearly a trangential play they couldn't have been more optimistic on the call so service now. >> steve, what do you think? >> that was my first comment when i saw this, why do i have to replace it? i wouldn't take tesla out. if the game is this, we've got to go with broadcom, sort of under the radar semiconductor play and when you look at their net margins, they came from 28% a couple of years ago, all the way

up to 40%. and that's in the ballpark of an nvidia or amd. so there is somewhat less of a hidden semiconductor play, but broadcom would be my play. >> tim, what do you think? >> mag 7 is both art and science. the science is these are just the market caps, so tesla is not in the mag 7 because it's now a $600 billion it's eli lilly part of this is doing the math, some of it is the art. it's the growth, a company that's innovating. mag 7s by definition are the largest ones in the world. lilly fits the bill on market cap and everything else in terms of what they're doing. and you could argue it's biotech even. >> what are you thinking >> i came to the same conclusion, although i think i followed the batch more of arts as opposed to batch more of sciences like my colleague tim listen, i think when you're

looking for a mag 7 definition, something with growth potential, margin of safety, brand awareness, and so the rest of these companies essentially have been transformative in what they offer the end user and i think lilly fits squarely in that. whether the market cap was there, i would make the argument that it has the upside potential and fit there and be toe to toe with the other six. >> coming up, snap, eli lilly, paypal, pepsico are reporting earnings next week we asked our traders for the names they're watching you'll have to find out after the break. and here is a sneak peek at the cramer camp. chatting exclusively with the ceo of columbia sports wear. you can catch that at the toofp the hour on "mad money." we have more "fast money" in two minutes.

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to see that follow through from the old economy and it will give you a pulse in terms of china's strength, whether they're able to balance and what we're seeing on the manufacturing front. >> karen, what do you think? >> i'm looking at a couple of retail names, capri and tapestry, which both report on the same day. >> two companies with bad renames. >> call them michael kors and coach. >> i think the earnings aren't going to be great, and i think by trading, i think maybe the spread will widen as people get worried. the deal is tight, i think it will close. >> steve, what do you think? >> chipotle. chipotle stock has been on fire. it's above all moving averages it's almost a $2,500 name. i think eventually you're going to see a stock split i get it, stock splits do nothing fundamental for the name, but people buy stock splits number two, they're growing at a

rate of 8% to 10% stores in the u.s., and out of those new stores, 80% of those are going to have chipotle lanes, which are drive-throughs it's a huge driver for revenues. dom, the last i'm saving, and it's not the least, international growth ability this is a domestic story only about 2% of stores are outside the u.s. that's going to be a huge driver for the company. >> tim, what's the top of your list >> estee lauder. it's a name that as beauty reports, and it's not as pretty as karen's ulta, it's probably the ugliest duck ling in the group and a lot of this is about china, inventory, de-stocking. i don't know that the numbers are going to be great and there's a concern they could guide lower. the story is a second half recovery story

it is so unloved here. our acronym game, i'm playing with the house's money i think on an earnings multiple this thing is going to cheapen up. >> karen, macro-ish question, do you feel as though the earnings season is shaping up in a way that is constructive for that hypothetical bull narrative to continue >> i would like to see more retail, i would like to see a little more on the consumer. we had mixed things. we saw capital one, which wasn't bad. discover, a little worse so that's sort of what i'm watching i'm optimistic and i can't help to think if the market is colored by some of these gigantic earnings. >> options traders think one payment stock reporting next week could be in trouble let's bring in mike from optimized advisers what are you seeing? >> i'm taking a look at a firm buy now, pay later, this obviously is an area of some interest the options market is implying that this one could move 15%

higher or lower after they report earnings. as big a move as that is, that's smaller than the 20% the company has averaged over the last eight reporting quarters there's two opposing forces. this company inked deals with walmart and amazon and that could propel them. the other thing is that we have seen rising, revolving credit delinquencies and i think that's something that a lot of people are going to have an eye on and it's going to give us sort of an eye on how the more credit challenged consumers might be looking. one of the bigger trades i saw was a purchase of 2,500 of the march 37 1/2 puts, this stock was $41 at the close the buyer of those puts is looking for potentially a decline of 20% or more by march expiration, six weeks from today. >> those are big trades. thank you very much. we'll see you soon, sir. what do we think about this? >> listen, fortunately there's no gun to my head, but if there

were, i would be inclined to sell optionality i think perhaps you might see a more muted or at least delayed effect in terms of any consumer delinquencies. if you don't get that, it's unlikely you're going to see that type of move. >> can i make a funny? it's a friday afternoon. a firm is one of those buy now, pay later stocks, i think if you buy now, you're going to pay later. >> oh, all right >> all right, tim. >> coming up next, your final trades keep it right here that rate s more and more businesses move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security. chip? at&t business.

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♪ ♪ ♪ [typing] ♪ you were made to act spontaneously. we were made to help plan accordingly. ♪ it's that time final trades let's go around the horn steve grasso. >> walmart, i like buying stock splits it was announced january 30th,

it's going three for one i'm looking for 15% upside. >> tim >> thank you ge trades less than four. >> karen >> gm. forget ge. >> got to take someone off the table, meta. thanks for being here. >> and take preference in tsm. >> thank you for watching fast money, mad money with jim cramer starts now. >> mission is simple, to make you money, i'm here to level the playing field for all investors, i promise to help you find it, mad money starts right now. >> i am jim cramer, welcome to men money, just trying to make you a little money, my job is not just to educate and entertain, and amuse, call me at one 807 43 kramer --