the ibm era. and they're higher margin consulting business is growing double digits. we'll listen if more on that from the call. >> looks like yum china, which we got results, is up 17%, as well. the fun's going to continue, though, it's going to do it for us here at "overtime." >> "fast money" starts now. live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on tap tonight. a major developing story in the sports and streaming space. disney, fox, and warner brothers discovery joining forces to launch a joint streaming platform. the news breaking in just the last hour. new details coming out right now. our david faber will be here with the latest. plus, china rising. the shanghai composite seeing its best day in nearly two years. etfs surged, too. can the moves by beijing help chinese stocks rebound? and later, just sell it? the chart master is out with a bearish call on nike shares of the shoe giant, up 3% today.

why he doesn't think this swoosh higher will last. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, dan nathan, and guy adami. we start off with two big earnings movers after the bell. shares of ford jumping after the automaker topped estimates for the first quarter. snap plunging as much as 30% after it gave weak guidance for q-1. we'll let to the numbers in a bit. we want to start off with the breaking news in the media space. espn, fox, warner brothers teaming up to launch a sports streaming platform this year. let's get to david faber with the details. >> yeah, this could be something that you can actually download as soon as the fall, that seems to be the hope of the three key partners here who will be contributing all of their sports programming to this yet to be named entity. i'm told they're going to come up with a name soon, they're going to have to come up with a price, of course. the idea here is to appeal to the every-growing number of people who no longer have a cable subscription, particularly, perhaps, young men who like sports, but don't want to pay 150 bucks amonth to have

cable. and so, wherever the price is, it will be far below that number. and then they obviously, as well, these consumers would have their entertainment options via other apps that we know well. the two or three parties, my understanding, have been talking for a bit of a period of time. disney and fox appear to agree to an initial deal and, in fact, fox has something, at least somewhat similar in australia, is my understanding, called k.o., which is brought together a number of -- sports programmers to distribute something in an app somewhat similar. they brought in turner, as well, and now you've got something that conceivably will appeal to a wide variety of sport fans, given they're going to have all of hockey, pro football, basketball, baseball, all the playoffs, of course, of those. college sports, in terms of almost all the big leagues, most

of the ncaa tournament, golf, tennis, cycling, soccer, and on from there. each of the -- each of the partners will own a third of the entity, but important to point out, as well, that doesn't mean that they'll each get a third of the revenues. it's my understanding that for example espn, which has higher fees and pays more to sports leagues, will get as it flows through, a higher percentage of the revenues, conceivably, from the new app. so, while it will each be owned a third, that is the entity itself, the revenues will float through to each of the partners in a different proportion. and the entity will not be bidding on sports rights on its own. it is simply an aggregation of the properties, and a distribution mechanism to bring in more people, but each of the actual networks, espn, turner, fox sports, will continue to bid

on various sports rights, so -- not, perhaps, something that hasn't been thought about, but they are bringing this to fruition. the parties do seem quite enthusiastic, as you might imagine. and again, they hope to bring it as soon as this fall. it does not, melissa, impact the continued conversations that espn proper is having with potential equity investors, it's something we've talked about for quite some time, for example, with the nfl, which might contribute some of its cable networks at some agreed upon valuation for a percentage ownership of espn. those talks continue. and it doesn't impact the future plans that disney has to have a direct to consumer offering of espn on its own. we may get more details, in fact, tomorrow, when disney reports after the bell in terms of the timing. my understanding is the introduction of that product could be, let's call it roughly a year or so away, and it would be sort of a different product than this one, but certainly an

important moment, melissa, that's the news as we have it right now. >> seems pretty confusing, david, at least at first blush, i mean, if these entities are going to be bidding on sports rights individually, you know, the first reaction that i think many people had to this news is that would put sort of a lid on how thigh those prices were getting, but if each entity is going to bid themselves, well, first of all, would they still keep the lid on, because they're bidding against each other and eventually feeds into this one app, which they, to some level, share, or are they going to still be bidding in a vir fierce and heated way, because you earn those sports, you buy the sports rights and you can put that on the linear channel, as well? >> that, i think, is the expectation, but i think your question is a good one. and you don have to wonder. you have to remember, they are competing against the likes of amazon and perhaps apple, as well, on certain of the sports rights, but my understanding, and again, why i made the distinction between the ownership structure and the

revenue flow-through, if you are paying more for certain sports, you're going to get a bigger percentage of the overall revenue from wherever this thing is priced, in terms of the subscription fee, if you are espn, for example, as would be the case right now, and over time, that may change, so, that may perhaps also be impetus to continue to bid, not to mention, being able to feed your linear networks which are still of importance. >> david, it's karen. i'm a little bit confused. i thought at the top you said they are contributing all of their sports, each of the three, contributing all of their sports, but then you talked about espn, i think, being still a standalone. >> yes. it will be. if you have a cable subscription, you're still getting espn. but everything on espn will be available to the purchaser of this app, along with every sports that fox offers and every sport that is offered by warner brothers discovery, broadly

speaking. >> all right. >> make more sense? >> i think it -- i don't know, karen is a little puzzled. i think we'll try to sort this out with rich greenfield who is waiting in the wings. david, appreciate your reporting. keep us posted. >> i will. i'm sorry i left you confused. >> rare, never happens. >> david faber. let's bring in rich greenfield of light shed partners. rich, maybe you can shed some light on this -- >> oh. i mean, wow. we love shedding light, melissa. let's first shed the light. i think this is a $30 to $40 product. let's start with price point. i know david was going to ask that question. i think this is going to be something that's quite expensive. you know, you're talking about a lot of sports networks. and this is not hulu. this is not hulu for sports. it's not like it's only going to work when the sports are on television. ill believe this is taking the linear networks, fox, fox sports, espn or tbs and tnt, i

believe all of those networks are going to be part of this, so, while the focus is obviously sports, i believe all of the content on those networks will be on this service. you're talking, you know, because you have to have affiliates and pay affiliates, this is going to be an expensive service, not youtube tv expensive, which crossed 8 million subs today, but this is still going to be much more expensive than hulus, disney+ of the world. the real question is, you know, if i think about winners and losers right now, this is obviously, you know, a nice positive step for fans, going to make ate little bit easier to access just the content they wo want, if they don't care about the nonsports cable networks out there or the smaller channels that are out there. it's clearly not a good thing for companies like paramount, who are not being included in this, i'd say it's not good for nbc, though obviously within the size and scale of comcast, i

think it's less of a negative than it is for paur ramparamoun. >> rich, november 8th, disney reported fourth quarter. amongst many things, bob iger said, we are committed to building espn into a digital sports platform. is that part of this vision or is this coming out of left field to you? >> i mean, it seems like sort of a pivot from there, doesn't it? it sounds like, hey, something that we've been talking pretty openly about is that having a single sports service, meaning, espn on its own, yes, i love "monday night football," i like college football a lot, but you know, the ratings are very heavy, certainly focused around football season. how do you build something that people subscribe to all year? i think that's sort of what this acknowledges, that it's hard to have a service with just what espn has. so, yes, as david pointed out, i think there will be an espn direct to consumer, but i feel

like this is an acknowledgement that for sports to really work, you need a larger bundle than what any one company sports can achieve. and i think if you were to talk, i mean, think about fox, fox, for years, has resisted launching its own streaming service, saying, we don't think a fox streaming really works direct to consumer. they waited and are now putting it into this bundle, which i think is sort of what espn probably should have done from the beginning. it's hard to be on your own in the sports world, because there isn't that sort of year-round viewership. it makes a lot of sense to work together. why they didn't include nbc and cbs, obviously, a big question for these companies in the weeks ahead. >> rich, it's tim. who gets pulled up here? it seems to me like warner brothers of the three gets pulled up and it gets into this, pardon the pun on this, too, the flow-through is not going to be linear in terms of the linear tv dynamic. in other worlds, so, we know they're not going to get paid

equal amounts, but the other side of this is, i worry about disney+, where there's a lot of people that had that bundle and sure they had disney+, but they really wanted more the access to the sports, but they took everything for more of a price. i would be worried about that. >> look, i think the -- we're talking, you know, wbd. i think this is definitely a surprise that they are put into this group. they don't have major nfl rights. and so, i think that was sort of a piece that people were looking at, going, would football, are they as important? i think there's been a lot of conversation, was wbd need to merge with nbc universal, ultimately, to have the power of the nfl? so, this is really interesting that they're included. this is definitely a win to be included in this, that's going after the sports problem. now, i will say, tim, at a $30 to $40 price point and it doesn't have cbs, you know, nfl rights, doesn't have, you know, sort of the -- some of the big

ten stuff that's on there, doesn't have epl, doesn't have "sunday night football," yes you can sign up for peacock and paramount plus separately, but i wonder how appealing this is service? that's sort of the missing, you know, question is, like, this is getting in the right direction, i think it's a tremendous step forward for the three management teams to actually start this and try to move forward with something innovative and different. i do have a question of, like, what does this mean for charter, comcast, directv, like, how are they going to react? they're going to say, why can't we bundle this exact same product? i think there's, you know, my guess, there's going to be a lot of questions being asked on conference calls over the course of the next few weeks about how can this actually be achieved relative to existing agreements? >> it's karen, thank you for coming on. is this something that would need anti-trust approval? >> to work together -- >> yeah. i mean -- >> it's a fascinating question.

karen, no one has asked me that, obviously, in the last 20 minutes. it is an interesting question. is there going to be any sort of attack on this? it's not the leagues themselves. obviously, the companies have already done something like hulu, so there is precedent for working together. and i would say, you know, this is certainly not comprehensive in its control of sports rights, so, it would surprise me if there was, but i would never say never. the one winner that i think we should be talking about, though, this would seem to be a huge win for the nba and adam silver, because if this really helps, as you mentioned before, this is help wbd be part of this, you have to believe that that means that wbd is going to retain rights for the nba. people were worried, we were worried they would lose those rights. i can't imagine they're going to be part of this joint venture and not retain nba rights. and so, it probably means that both wbd and espn are paying up to retain nba rights, which is clearly going to be a nice win

for adam silver and the nba. >> rich, it's dan. let's say this thing launches for nfl, you mentioned the term nfl a lot, you know, i was looking at my youtube subscription, $73 a month. i pay $11 a month for espn+. i kind of have everything i need there and it's all streaming, it's all over the top, it seems like this is going to be a very confusing offering, and depending upon how far ahead of time they get it out before the nfl. like, is this thing doa? is it just, like, to the point -- we weren't confused by david's reporting, we were confused by all the offering and why it needs to exist, and why it needs to exist the way you just described it without a bunch of other stuff that you already get on youtube tv. >> the answer is yes. so, i'm going to first say you're right, dan, 100%. two, i would say, you do take youtube tv and you don't have regional sports networks, right? so, there is sports content that isn't there. you could watch the nfl, you know, the travis kelce peacock

game, you couldn't watch on your youtube tv, you had to get peacock, and so, the need for multiple services, this fragmentation of sports, is a problem. now, i think it is a positive is a sort of the sports rights that are being owned by the three companies are being put into here, so, incremental big ten streaming service, espn+ is all being put in, but you're 100% right. this does not solve the one-stop shop for all sports rights for a sports fan. youtube tv is still better, it's obviously more expensive, but even there, you say you subscribe to espn+ in addition, so, there is no magic bull let for sports. i think the one clear standout here is the loser, is going to be basic cable, entertainment channels that are not part of this package, are going to have yet one more headwind and create even more challenges for these legacy media companies that don't have their channels in here. >> rich, thank you so much for

joining us. appreciate it. >> it's exhausting and confusing. >> it really is. it really is. don't miss an exclusive interview with bob iger, that's tomorrow, 4:00 p.m. eastern time, right here on cnbc, when disney reports earnings. why is disney the one that's trading lower, tim? >> well, first of all, the intrinsic value or the sum of the parts on disney, and what they were going to do was a catalyst. so, what was espn going to be worth, and as guy pointed out, bob iger's made it clear that there is a very strategic dynamic here. i think that's part of it. i think to the extent that -- some of the differentiation of disney, to me, is that product. and so, when they started -- i don't know where i can come up with the quantitative analysis on this, but i do think that the disney+ bubndle that includes espn+ is something that pulls in a lot of sports fans. >> rich made an interesting

point in that sports is tribal. you like a certain thing and you have a certain app because you like that season of sports. hard to build a year-round product. they are creating a year-round product, so, if sports, if you are only going to watch certain sports for certain seasons, you are still not solving for that problem, because why would you pay for everything else if you don't normally watch everything else? >> well, so, i guess this cannibalization problem. if this is the one-stop shop, do you need the half stop? right? >> i don't -- i don't understand. >> it's not like -- i'll subscribe to this and i'll start watching something besides college football. it seems like -- to rich's point, people like what they like, they want to follow the teams they want to follow, they want to follow the leagues, certain seasons, and you subscribe accordingly. >> and i'll go back to the question you asked tim, because that's what i'm sort of honing in on. this doesn't happen without espn. there's no way, right? >> right. >> so, disney had to get involved in this, so, the question is, why would they do

that, if espn -- not saying they're the crown jewel, but clearly they want to build upon that last quarter. something's changed over the last month and a half that obviously it's, you know, way beyond my pay grade. i'll say this. disney's traded pretty well since that last quarter, trading 84 into the quarter. got up to 99 today. now they really have to answer some questions tomorrow. >> interesting, david faber mentioned that this is going after maybe a demo, so, younger men that like a lot of sports, and doing a lot of sports gambling. so, what i hear all the time, i'm not a sports gambler -- >> that's surprising to me, by the way. >> actually, i did gamble a little bit on the nfl. he went 33-10-3 in the last month -- >> okay. >> pretty good documented on my draft kings account. but here's the deal. there's a latency problem with the streamers. when you are watching it, through traditional cable, through -- so people don't like it, because there's a lot of in-game gambling and alike here. so, to me, that's kind of really interesting issue.

if you are going after that demographic, that demographic, they want to be watching it on tv. they don't want to be watching it streaming. >> maybe they're sweating out against disney -- disney, all these three are sweating out against amazon, apple, and google. you mean, the world of the sports media landscape is changing a lot. and that may be part of this, too. >> i just think it would be hard to wrestle these three to a deal, right, where they each have their different revenue streams, they have different contributions, they have to figure out -- >> the revenue streams would presumably change, you know, potentially, quarter to quarter. >> yes. >> season to season, whatever it is. and that's going to adjust every single time? seems kind of complicated. >> i'll say this, you watch the world series and you have to go from tbs one night over to abc one night, fox the other -- >> that's madness. if you are a met fan, you don't have to -- >> really quickly, i know you want to -- this is actually what apple tv does well. this is what those aggregators do well. they are all logged in there, so, it is serving as an

interface. so, we're back to the bundling, unbundling. >> mets, by the way, in a world series in 2015. yanks last in 2009. >> yeah, we won in '09. coming up, a number of names on the move. ford jumping. a burrito blowout. >> oh. >> and snap shares plummeting after its earnings report. we'll go inside all the numbers. more "fast money" in two. this is "fast money" with melissa lee. right here on cnbc. formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror.

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all on the most reliable 5g network nationwide. ditch the other guys and you'll save hundreds. get a free line of unlimited intro for 1 year when you buy one unlimited line. and for a limited time, get the new samsung galaxy s24 on us. welcome back to "fast money." we have an earnings alert on ford. shares are popping. the company giving strong guidance for the year. phil lebeau has all the details. >> hey, melissa. a very nice report, if you are a ford investor, especially when you look at the guidance for 2024. we'll talk about that in just a bit. let's look at the q-4 results. better than expected, beating the street on the top and bottom line by a wide margin, earning 29 cent as share. street expecting 14 cents. revenue, $3 billion better than expected. and the businesses, when you look at each of them, two of the

three delivered nice numbers. commercial vehicles -- we have said this time and again, ford pro iskilling it. $1.81 billion profit. ice and hybrid business, $813 million, evs, they continue to lose money there, $1.5 billion. the ceo just said they expect to lose money on evs this year, as well, but here he is, last hour, talking to us about his view of where the market is right now, and ford's position. >> we have an incredible commercial business, which was up 20% this year. we expect it to grow again in 2024. our i.c.e. business is doing very well. it grew the last two years, profits were up. and, you know, we, at ford, have an incredible position, because we can offer or consumers choice across all power trains. i i.c.e., hevs, and electric vehicles. we cover the broad spectrum. >> here is the guidance for 2024. adjusted ez bit range of $10

billion to $12 billion. free cash flow this year, $6 billion to $7 billion. cap x, $8 billion to $9.5 billion. and shares of ford over the last year, two other notes here, if you are a ford shareholder, you have two dividends coming your way. one in the first quarter for 15 cents a share, and then, a special dividend, the company just announced, it will be awarded in the first quarter. a little later on in the quarter, 18 cents a share. any way you look at this, this is the kind of report that ford investors were looking for. some reaffirmation in terms of the commercial vehicle, as well as the i.c.e./hybrid business. that's where they've made their money and planning to make real big money in those two areas this year, as they continue to do the pivot towards evs or away from evs, but more towards hybrids, because that's where the demand is. >> i thought it was interesting that ford said they're going to defer certain capital investments in evs until demand justifies it. so, they're acknowledging it in

terms of the spend that they had planned. >> yeah, and they already said, what, a couple of months ago, that they were going to defer $12 billion in ev investment to some point in the future. they said, at that time, which they reiterated today, we are going to be very judicious when it comes to ev investment. not giving up, but if the market is not there, they're not just going to pour money into it. >> yeah. phil, thank you. phil lebeau. so, let's say, interest rates were an issue for a lot of the automakers and they've peaked. let's say labor costs were a big question mark, but now the strike is settled. two major headwinds in 2023, and they're in the rear view mirror, so to speak. >> a couple of things, as a ford shareholder, i do like a 2.5% div yield. it seems like the auto companies were holding back some goodies from the unions during a pretty painful and, you know, pugnacious exchange. i think it's a case where if you look at this company on those cost savings, they're talking

about $2 billion in global cost savings, and the free cash flow, i don't know what it's adjusted for, but $6 billion to $7 billion on a $48 billion market cap, this is a high free cash flow yield for a company that people thought was really ine fiin effi efficient. this is a new age for a company, that a year, year and a half ago, you know, told us what they were doing wrong, i think they were very honest with it, and i think, you know, this is a real turnaround. >> these are tech-like moves in the afterhours. >> yes. >> we have ford up 6%. gm up almost 10% on its earnings before. >> yeah, well, so, i think the narrative has changed completely from, this is a melting ice cube business -- >> pun intended. >> i was going to say. >> now it's icy hot, to use a shaquille o'neal reference, i guess. so, those multiples of single d and probably should never have

been there. let's get to snap now. shares plummeting 30% after reporting a revenue miss for the fourth quarter. it gave light guidance for q-1. julia boorstin has all the details. julia? >> yeah, look at the shares of snap, down over 30% now. that's really dragged down by a revenue miss and also first quarter guidance of a much larger loss than analysts had anticipated. the company guiding to a first quarter ebitda loss in a range of $55 million to $95 million. the consensus was for a loss of $22 million. this comes after the company reported fourth quarter earnings of 8 cents per share, that was two sents better than anticipated and adjusted ebitda in a range way above estimates. but the company warning, quote, we estimate the onset of the conflict in the middle east was a headwind in the fourth quarter. on the upside, the company said that its user growth was ahead of expectations and announced that snapchat plus, which hit 7 million subscriber, finished the

year with a revenue run rate of $249 million. that is the first time we've gotten revenue numbers on this subscription service. now, while we see the stock down, we have to note some bright points pointed out by the ceo of snap, saying they made progress with small and medium-sized advertisers, as well as the ad platform. we'll have lots of questions for evan spiegel when we talk to him tomorrow morning in "money movers. kwt melissa? >> thank you, julia. let's go to dan, the chief of snap. >> oh, really? this was left for dead in the fall, and people got excited about -- i don't know what they got excited about. if you look at meta, all the stuff that's been exciting in and around that story, and their ability to harness the technology they're investing in. and that's why you had that gap

higher. snap is obviously not doing that same level investment, and, you know, to me, it's a really hard one. tiktok has been eating their lunch. they've been cutting costs pretty dramatically, and so, it's kind of snowing in the product inability to monetize those users. it's a hard one. i'll say this, and we did this almost every quarter, you know, the stock gap's down 20%, 30%, routinely. wait a few days and you buy it and it fills in the gap. i know that sounds really cavalier, but the last thing i'll just say is, if these guys are doing this poorly, i can't imagine how badly twitter is doing. coming up, a burrito blowout for chipotle. shares of the fast casual chain jumping after its latest report. plus, the china trade. stocks surging as talks of stimulus come into focus. how to play that move ahead. back right after this.

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welcome back to "fast money." chipotle higher in extended hours after reporting a beat on the top and bottom lines. let's get to kate rogers for sure. >> a big q-4 beat on the top and bottom lines. same store sales coming in much higher at 8.4%. that's thanks to a big traffic bump of up over 7%. the company said food costs did

increase due to a higher mix of beef as well as inflation across its menu, most notably, on beef, of course, produce, and queso. guiding full-year comparable restaurant sales growth in the mid single different range and 285 new restaurant openings. on the call, the ceo said they plan to pilot some of their you a mautomate ed automated servic. the return of carne asada for a limited time outperformed. there are one to two limited time offers on the way for this year. no decisions have been made yet on price hikes as a result of the $20 minimum wage coming in california in april, where chipotle has 15% of its locations. they are gaining sales traction with every consumer income cohort, which is something that you just do not hear in the sector, particularly at this point in time, melissa. back over to you.

>> kate, did you say that they're considering more price hikes? i'm wondering, like, year on year, how much have prices gone up on their menu? >> they -- they don't do it every quarter, melissa. they last did it in the fall and now they're considering a price hike, given this $20 an hour minimum wage hike in april but didn't give the number yet, because they haven't decided what it's going to be, but they have about 15% of their locations out here in california, which is a sizable number, so, they will feel that, and consumers likely will, as well. >> all right, kate, thank you. kate rogers. burrito blowout. >> no, no, that's a blowout. and mr. nichols is a huge "fast money" fan -- >> you would know? >> everybody here in terms of blowouts, i would know. listen, 300 new stores this year. operating margins much better than expected. restaurant margins, much better than expected. the eps was an absolute blowout and now they're integrating technology -- >> auto-cado. >> i can't say that but good for them.

margins will continue to improve. i think digital is now 36% of overall revenues. that's a good sign. look, i mean -- >> going to buy it? >> that's the question, right? do you buy it here? >> look at that chart. >> 47 times, i mean -- >> it's like nvidia, eli lilly. >> it's always been expensive. mcdonald's, they rue the day they spun out chipotle. >> yeah, i mean, a lot to love, right? same-store sales, unit growth, ticket growth, all of that great. it all comes down to the same thing. this happens every single time. we talk about snap being all over the place, chipotle is almost never all over the place. they're always better, better, better, which makes me think they have more control over their revenue and bottom line than -- than chance, right? it's a lot, a lot better than that. but i come down to the 46, as i said for many, many quarters, too expensive, can't own it. coming up, we're giving lilly a look. the pharma stock losing steam after an initial earnings bump. the numbers they posted, and how the weight loss drug boom is shaping that trade ahead.

but first, china stocks catching a bid in a big way as the government steps up intervention in the market. but can the rally last? we'll ask one top expert. for "fasmoy"n o.t ne itw

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welcome back to "fast money." the s&p pouncing in and out of negative territory before ultimately finishing higher, third positive session. the dow climbing 141 points. more afterhours action.

vf corp and gilead dropping. elf beauty and yum china both higher. shares of boeing higher today, despite regulators from the ntsb saying bolts were missing from the 737 max door that blew off mid-flight in early january. boeing shares down nearly 15% since that incident. meanwhile, chinese markets on a tear today. etfs having their best day since january of last year. the kweb, the best day since july. that's after major sovereign wealth fund said it was expanding its purchase of etfs. rm exuberance by our ed a dewa dewardric, great to see you. a number of measures that china regulators are going to talk to president xi jinping about that. the president getting a briefing about the markets, particularly, the timing of it, ahead of the lunar new year. are you optimistic that there will be more measures unveiled?

>> well, i think, let's just start with this one market intervention, melissa. i think that unfortunately, this is probably just a short-term sugar rush, as we're seeing heavy intervention by the chinese state. i hope that we're going to see a larger focus on the broader economy, not just equity markets, because i think that's missing here, melissa, is some sort of confidence that is going to be injected into consumers, the private sector, and we have yet to see the government really willing to pull back the layers of what i think is needed in the mainline economy, not equity markets. until we see this, that short-term exuberance, as i call it, will fizzle at some point, because this is not the real challenge. >> i kind of agree with you on that, though i do think there's a rationale for buying a lot of these companies. if i didn't think that these policy officials were not who

they are dyed in the wool, in many cases, they're communists, i would almost think they're traders, because instead of having to buy back your shares and support your market, how about not beating up your companies? and ultimately, this is a case where i just think, that's really the issue, and it's not even the chinese economy that's the reason that baba and ten cent are trading where they are. do you think they have any understanding of this dynamic? >> well, tim, i'm glad it's you, because i wanted to talk to you about baba, i know you have a real interest -- i think baba has legs to run, for a whole host of reasons. i think the announcements around eddie wu taking over, i think jack mau and joe tsai buying up shares. but i think when it comes to larger equities, tim, the real question i have, whether or not

the other goal that the government has, which is bringing foreign investors back to this market, because there's a bottom, i don't know that i see a bottom here at all. so, that would be my concern, but the real question, the fear of missing out is a stronger draw than what i call the fear of what's to come. and that's where i'm always hesitant about the why these market. equity markets, as well, because i just don't know what's around the corner. >> fear of -- fowtc? very catchy. >> fear of what's to come. >> use that at the game, too. you might be right, exactly. >> it's not -- it doesn't roll off the tongue at all. we'll let you work on that. you know, some would argue, though that the chinese government is actually going about this in a smart way. the old playbook was to throw money at whatever sector was failing, and that, in turn, you know, developed into a property bubble and what we have right here. here, they're letting some people fail, they're letting

some companies go under. they're sort of letting the rationalization happen. maybe in the long run, do you think in the long run that's actually better for the chinese economy? >> i think until we have some answers, melissa, on how we deal with the mainline chinese economy and the issues around what they really need, is a new growth model here. we talked about this over and over and over again. i think monetary policy, monetary easing, is not working. so, i know this is not popular, but i've been talking for quite some time about cash payments to households. this is not popular be my economists and xi jinping considers it to be welfare. but at some point, you have to try something different to get the mainline economy going and this overfocus on the equity markets, i don't think is the answer. >> dewardric, thank you. good to see you. >> thank you, melissa. >> i think dan's feeling left

out. i want to point out that baba is the z in zeb ra. >> oddly not in your clam. >> excuse me? >> i've been pounding the table on the baba. >> you can't shove a b in a clam. you'll have a problem. >> there's the zebra. look at that. finally, thank you, tim. real team player. >> felt like it was time. >> you have think that baba will go higher on earnings, even if the sugar rush doesn't work? >> i do. i look at a few things in terms of also what we've started to see with some of the seasonal dynamics, what we've seen in some of the market cap in cash. some of the earnings multiples. the analyst community doesn't need to get a whole lot more even -- stimulus from the top down to find it compelling. coming up, eli lilly reversing. what sent the shares lower, and what could be the next big thing for the company? plus, just sell it? nike jumping 3% today, but the chart master says it might be time to bench the sportsware

giant. we'll find out why. "fast money" is back in two.

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loss drug zepbound hit nearly $200 million. it was just released for sale at the beginning of december. it was the first earnings report to include results for zepbound, which analysts think could be the best-selling drug of all-time. so, in yesterday's session, it hit an all-time high. today's session, an all-time high. it pulled back. because of where it was or was there something in the call, in the release, that sparked it? >> i think it's just where it was, i mean, it would -- it was up yesterday, i think, in front of this, so, just sort of a reversal of that, and obviously it's been up just an enormous amount and we're only one quarter in -- not even a quarter. >> one and a half months of zepbound. >> more than that is in the stock, but we're still early in this story, so, it's volatile, but hanging on. >> they talked about the phase two for fatty liver, the trial, and the results were good, according to the analyst community, so, that's another positive in that column. >> kwout

>> without question. it traded more than usual volume, i think, 1 1/2, almost two2 times normal volume. closed unch on the day, maybe slightly lower. that's something to take into consideration. we could say today, eli lilly set up for the 15% to 20% drop we saw before. i think you're going to get a better entry point. i'm not saying go short, i'm saying, you have to find a place to buy it and you're going to get a better entry on the downside. coming up, time to just sell it? nike stomping higher today, but the chart master thinks this one might be a sinker. refa ce.ke theas bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights.

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with the ultimate speed, power, and reliability the xfinity 10g network is made for streaming live sports. because it's only live once. join xfinity rewards on the xfinity app or go to xfinity1stand10gs.com for your chance to win. shares of nike closing higher today, but the stock is down nearly 19% in the last year. and the chart master thinks it's time to just sell it. let's bring him in now to break down the technicals of the trade. carter, what do you see? >> well, we know this is a great long-term winner. let's look at the very first chart. since its ipo some 45 years ago in december of 1980. this is a stock that's up 20x that of the s&p, but that all data trend line is being breached, you can see it right there. second chart, we can aknow state

the lines a different way. you have what you call this converging trend lines since the covid low and we're at risk of breaching. let's look at that formation shorter term and you'll see that here. so, the question is, do we or don't we break the lows? the real problem is this. when you drop 55% during the 2022 selloff and the s&p drops 27, and now the s&p is up 40 and you're up only 20, you have to climb back 75% to make a new high. the s&p is at new highs. another iteration, just to make the same conclusion a different way, this is what a topping out formation looks like. and then, of course, speaking to the issue of being so far behind the s&p final chart, look at the relative strength line. this is simply a ratio chart. one thing divided by another, nike divided by s&p, which gives you a relative strength line. we are making new 52-week lows each day. why be in something like this when there's so many things that are good?

>> carter, thank you. good to see you. >> you bet. >> tim? what do you think? >> i think he's right. i think nike is also just a tremendous franchise, but i have traded this stock both long-term and i've had a really great experience owning nike, but i've been able to short it at different times. i'm flat in the position. i think lulu is a name that also is a world class company, they are also growing internationally. i just don't like the valuation here for discretionary. i think they had one of their greatest two-year periods ever. i'm short there, i'm not betting the farm, but i think i'm going to get it back lower. >> december highs we just made, 126, the same highs we made back in april. it's had trouble at those levels. and it goes down a lot faster, grinds higher, takes basically the elevator down. i think we're there again. you could probably get this stock 97 or so, looking at the charts. up next, final trades.

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advice worth talking about. time for the final trade. let's go around the horn. tim? >> we talked about ford. guess who is up in the afterhours on the back of ford? and i think these two are going to pull each other higher. gm. >> karen? >> yes, i actually forgot for a second -- no, not general -- >> xle. >> yes. it was the xle, so, that was my final trade. energy. it's in the helm trade, it's the x in helm. >> again -- >> well played. >> did not play the game well at all. dan? >> yeah, snap went in october from, like, 8 1/2 up here until

17 or so, trading down to 12. probably has lower lows. wait a few days, it probably fills in that gap. >> guy? >> setting myself up for a fast fire. wynn reports after the bell tomorrow, but you stay with it, melms. >> thank you for watching "fast." "mad money" with jim cramer starts right now. fire. win reports after the bell tomorrow but you stay with it. >> thanks for watching that money. mad money with jim cramer starts right now. >> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. mad money starts now. >> hey, i'm cramer. welcome to mad money. welcome to crane eric. i don't want to make friends, i'm just trying to make you a little money. my job is not just to entertain but to educate and teach. call me or treat me at jim cramer. something strange happened when we turned the