reportedly with openai and the like. >> and apple hasn't moved much on a.i. ideas or news. the kind of sense has been, well, microsoft is benefiting from this, people think apple is behind. but they thought that about khanna dark as well. >> that's going to do it for us here at "overtime." fm >> "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. climbing the ranks. nvidia overtaking apple to become the second-biggest company in the world. it added over a trillion dollars in market cap in just over three months. can it keep its spot at the top, or is there a reckoning coming? and from dollars to donuts. dollar tree looking to prune its family dollar division. what it means for the discount retailer as the stock trades near its lows of the year. plus, lofty lulu. shares surging after earnings. was all the worry overdone? a top exec dives into the pharma

giant's glp contender. and trade it or fade it. how carter grades the traders' calls. i'm melissa lee, coming to you live from studio b at the nasdaq. we start off with nvidia, because -- i mean -- >> why not? >> how could we not? the semi stock dominating the market all year long today hit another massive milestone. in addition to jumping 5% today, nvidia topped $3 trillion market cap for the first time ever, and that helped it surpass apple to claim the number two spot in the s&p. not that far away from overtaking microsoft, who has been at the top since late january. that's a pretty big jump for a stock that was way back at number five on the market cap list at the start of the year and with a gain of more than 11% already this week, it might not be long before it jumps higher. is there anything that can derail the nvidia train and is it just a matter of time before it becomes number one? guy? >> it's certainly number one.

i mean, we talked about it seemingly every day, and justifiably so, and my -- any concern i've had has been clearly unwarranted, without question. with that said, the concerns are still there. and not in terms of price to earnings, which at 34 times is reasonable, given their eps growth. it's a concern in terms of 19 times revenue. historically, this has been a sector that trades at half that type of valuation. now, if you say, guy, they're going to be at a $300 billion run rate next year and a half or so, then we can have a different conversation. i just don't think that trajectory in terms of earnings can continue. that's my concern, unwarranted as it may be. will this continue? yeah, because now you have double levered etfs on the back of nvidia. the money flow is there. what will stop it? when margins start to wane is when people get concerned. >> i was going to say, but guy, there hasn't been a cycle like this ever historically, so, how can we compare it to historic pes or valuations? so, you have the stock split

coming up, that's a tail end, but let's talk about the massive investment flow. if you look at the xlk, microsoft is number one waiting, and they're at 22.5%. then it's apple. then it's nvidia. so jones has been on this, bank of america. if they surpass apple, they have to fl the weightings have to fl. if that happens, it doesn't -- it's not a one-day event, it's an every time someone buys the xlk, it happen to be mirrored into whatever the market cap is. i think it's a little exten united, because the stock split. doesn't that seem like something you do as a pull the fire alarm last ditch effort? so, maybe they're trying to scale out of something, i mean, possibly? possibly? no, tim, i don't mean that it's over. because i've been bullish since the beginning, but maybe we're

coming to the end of those incredible beats. >> $1,200 stock going through a stock split, not $80. >> it doesn't have anything to do with being in the dow. reverse stock splits are often very contrived. when you have a story here that also just -- we've gotten drivers over the last couple of days that have had the analyst community to upgrade on top of already extraordinary valuations. it's -- and if you think about the $1,200 stock, it's even more extraordinary. think about a periods where booe we've had the outsized moves, and this is the greatest one of all. this is up 60% since april 19th. and the thing that's very interesting for the markets here is that the semiconductors as a group, it wasn't just nvidia. now, i realize there's a dynamic here across the board that at least for the a.i. spend, but you know, the move in taiwan semi was even more impressive

today. and they are a close second in terms of the most important semiconductor company in the world in my view. and the reliance that the world has on taiwan semi, and, yeah, there's politics and a lot of other things to worry about. but the other side of all of this, the nasdaq, with all the exposure here, does not make new highs against the s&p. so, nvidia's now 6.6% of the s&p, microsoft seven, 6.4. you are hearing about the weightings, the size of the cheap, but the nasdaq has not really done a whole lot. and that's something that folks are looking at the market and wondering, hey, that kind of leadership has been very, very tied to semis, which i'd like to believe i've said for a long time, have been the leader of this market. and they continue to go higher. >> the lack of new highs in the nasdaq, is that a reason to not be long nvidia? or is that even more reason? >> it's a reason to be concerned about the broader market, especially when you consider that nvidia is up 147% this year, and the nasdaq is, you know, not even really totally kept pace with the s&p.

>> let's just boil it down to nvidia. should i be worried about the broader -- should i make the assumption that nvidia is a little bit more immune to what might happen in the tech cycle when it comes to a pull-back in enterprise tech spend, because that is more defensive spending, companies will have to spend on a.i., cut back on other things, as we've seen from the likes of crm. >> i think that's fair. to steve's point about passive investing, we talked about that for years, money flows in regardless. that will continue. i'd like to think i would understand what's going to derail it, i mean, china/taiwan has been out there forever. that's not talked about, though, you know, more and more people seem to be coming around so that thinking, that that's the potential existential risk, but short of that, until valuation catches up, it's all systems go. >> in march, nvidia was a $943 stock, it traded down to $750. so, it's not immune. people use it as a cash machine. when people think the market's

going d going down, they sell their biggest buffalo in their portfolio. nvidia has to be one of the biggest things people have gains in. >> one of the hardest things to do in markets is probably short stocks, but one of the second hardest things to do is let your winners run. when you have a stock like this, i'm sure there are a lot of people out there that are frustrated that they haven't let this thing run. again, all the different periods we've had, we had five straight quarters now where they've continued to defy gravity. we've had five straight quarters where they've seemingly upped the ante in terms of the growth cycle. yes, the most recent even event, vera, ruben -- >> they are all named after women scientists. >> i'm about to get canceled. all right, i understand. and those are great names, but i think the fact is, what the conversation we had yesterday was, okay, when is this, when are we pricing out? right now, we're just worried about blackwell. we're not even. they are just starting to get on the radar.

but the ability they're able to scratch in terms of the addressable market and it does -- i'm most fascinated for the broader market about this industrial complex and where, again, nvidia is talking about where they expect they are going to change physical dynamic industries, and that is something that i think for this multiple is not necessarily in the price. >> remember, we've had the arc futurist on talking about -- >> great name. >> don't you want to be a futurist. >> no. >> how can you be wrong? >> that's a great name. >> deere as an a.i. play. that's the next leg. >> every sector is going to b benefit from a.i. i get it. nvidia was probably still cheap to some people trading below $1,000, bank of america just upped it to $1,500. every sector is going to change, but not the same way. there's not going to be the same chip types. let's go to the chart master. we have a lot of chart questions when it comes to nvidia.

obviously, where the stock is going, and also, whether the strength relative to the nasdaq, is that troubling for nvidia? it's obviously troubling for the nasdaq, carter, but what is your take? >> before we get to the charts, i think we can all be candid, it turns out no one has a clue about this stock. it's been so exceptional. just to make it very clear, one year ago, it was trading at $375 in early june, a year ago. and wall street had a price target of $462. believing it would go up 23%. well, here we are, and it's $1,224. it turns out it's just one of these things that's exceptional and very hard to handicap how far it will go, when it will end, but we can look at the charts and try to figure out at least maybe the next hour or two. let's do that. the formation, the setup, the event that has occurred is that breakout, news-related, and now the stock is up some 25%, 30%, having moved from the high 900s to 1,225.

let's keep that and then look at the same on a longer term chart and let's keep that formation and look at it again on a longer term chart, third iteration. and so, the question is, is there any way to tell if this breakout has run its course? now, final chart, the same time frame, and let's put the channel on. and so, simply, were we to get to the top of the channel, you're talking about 1,400. i don't know if it's going to go there, but momentum like this is dangerous, in terms of doubling it or fighting it or certainly shorting it. it happens to be an exceptional moment for an exceptional stock that will, of course, one day have its reckoning, but right now, the buyers are in, the money is moving in. >> so, it's dangerous, carter, and your hunch is that it goes to 1,400? >> i would say -- if you had to press and say, you must be short or you must be long this stock, for tomorrow at 9:30, and the next day at 9:30, i certainly wouldn't be short, so, it's

either stand aside and marvel, or participate and be long. >> all right, well, as the market cap continues to soar, so does options volume. mike khouw joins us for a look at how the traders are playing the world's largest $3 trillion company. mike, what do you see? >> yeah, i mean, this thing overtook tesla -- you remember, tesla was always the busiest single stock option, that has changed, it became nvidia a little while ago, and that hasn't, you know, it's just actually the volume continues to build. and it's important to remember, too, that as the volume builds and the price increases, the notional value of these options positions are also getting bigger and bigger. it traded over 2 million contracts today, 4 of the top 5 most active contracts were calls, actually the top four were all calls. and it's interesting that carter was saying, you know, forget about what it does three months from now, what are we worried about it doing tomorrow, the day after. and they are trading weekly options and all trading upside

calls. the 1250s, the 1300s for this week were the most active contracts, and basically saying, look, if you're going to play this thing, ride the momentum. >> so, mike, you mentioned activity to the end of this week, and the end of this week captures the stock split. what does it look like beyond this week in terms of the bets and is there any sort of inkling that the stock may cool off? >> well, there was over 800,000 puts that traded, so, there are some people who are betting against it, but the number of people who are betting to the upside outnumbers them by about 50%, so, there was, you know, one and a quarter million call contracts purchased. for those people who are trading options, what's going to happen to them? and i think there are people who believe that a split is a positive. each contract will become ten contracts, and the strikes will get divided by ten. and, you know, so, there will actually in the short-term, be

an even larger spike in options volumes in strict contract terms. though what we have seen in the past is that when those splits took place, more people started migrating back to the stock, because they were able toll. >> that's interesting. mike, thank you. mike khouw. so, carter put out two possibilities that he thought you should, you know, entertain, stand back and marvel, or be long what is your answer, steve? >> i've been standing back and marveling. i'm going to wait until the split and see if i want to jump back in. >> at this point, i have to be one of the marvelous marvelers. getting long here for me would be just throwing in a towel which i'm unwilling to do. >> tim? >> stay long. i don't know why you're fighting stuff that i'm sure it's going to pull back, but again, it depends on how you invest, what your time horizon, you're not timing this thing, and again, letting your winners run, let it rip. now, let's get to lululemon, soaring after reporting better

than expected earnings and revenue. the athletic clothing company has beaten on eps 20 of the past 21 quarters. gabrielle, it wasn't just a beat, they also raised their guidance for the full year. >> they've reaffirmed their guidance for the full year, but they actually -- their q-2 guidance came in lower than expected, so, this uptick in the stock, i'm attributing that to the buy-back, that's going to be great for investors, and the international growth. this feels a little bit like window dressing. you have the buy-back and calvin mcdonald on the call talking all about international. 35% up in the region, china up 45%, rest of the world was up 27%. but north america was flat during the quarter. that's its biggest market. so -- those are volatile regions to bank on. >> you don't buy this 12% pop. have they addressed at all the chief product officer leaving and what happens after that with their lineup? >> they did. they did address that.

and, you know, of course, when that was announced, you saw the stock drop, investors were concerned about what kind of impact that's going to have on the product lineup going forward. calvin mcdonald said they had a succession plan in place, he's going to be reporting directly to calvin now. they're not going to replace the position, but they have reassured investors this isn't going to cause an issue. gabrie months ago, denim is coming back, i'm going into flares -- >> wide leg, tim. >> tim's going into flares. >> belly button showing. >> why is this really an issue? don't all of these companies adjust and adapt and as much as, like, i recognize competitive landscape, i think they are losing market share, i do think there's saturation. why do we continue to hear about this? >> you know, that's what investors have to keep in mind. fashion is fickle, and it's cyclical. these things are always going to change. think back to the 2000s when

true religion was one of the hottest brands on the market. celebrities wearing the wildest jeans, and denim went out. now it's back. and lululemon is never going to sell jeans. there's no room for them there. >> you had true religion. i bet you any amount of money. >> my response to that is, who didn't? >> first of all, i didn't. second of all, great having you here. and i'm sorry you have to endure the low -- did you even say that out of your mouth? >> you're thinking of stripes. >> wide leg. >> the right terms, you're on it. >> flares, right? >> are you skeptical of this pop? >> yeah, i am. listen, this is the good news. inventories were down 15% year over year against sales growth. very good. and margins were -- they beat, but still down year over year. all very good things. but as gabrielle said, america was flat, i mean, that's still the big kahuna there, and the second quarter guide wasn't great. they're trying to get you to believe the full-year guidance is going to come in better than the street was expecting.

the stock buy-back doesn't do a lot for me. i thought we'd trade cdown to te june '22 lows, we didn't get there, but i think you fade this move. >> yeah, i take it as, if the puck's going to denim, you have to buy levi's. this chart looks really good, up 46% year to date. and not only is there denim, there's stretch denim. it's not just regular denim now, and it's not the stretch -- it's not the yoga pant denim. it's a real jean -- >> is that sport coat stretch denim? >> it should be. it should be. so, i think that chart is good, and if you get another one, ralph lauren. that chart looks good, as well. >> american eagle, gap, they're all well positioned to capture this denim trend and it is also not just about the wide leg and the low rise, it's a head to toe denim outfit.

caitlin clark wearing a full deck deck denim jumpsuit. >> jumpsuit? >> we can go shopping. i'll show you what to get. >> gab gabrielle, thank you. coming up, europe may be getting ahead of the u.s. the ecb nearing a rate cut. will yields here at home continue to drop? that's next. plus, branching off. dollar tree dropping as the company looks to sell off its struggling family dollar business. how that move could impact the stock, when "fast money" returns. this is "fast money" with melissa lee, right here on cnbc. this is our future, ma. godaddy airo.

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it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. welcome back to "fast money." a key interest rate decision coming tomorrow. the ecb expected to deliver its first rate cut since before the pandemic. that after the bank of canada cut by 25 basis points today, its first move in four years. meantime, more softness in u.s. treasury yields with the federal reserve's policy decision one week away. the ten-year at its lowest level in more than two months. so, what does this all mean? let's get some answers from cnbc's rick santelli.

rick, last time you were here, maybe not the last time, but the last time when you set the internet on fire with your prediction for the ten-year yield, you said that rates would go, i think it was north of 15%, that was a -- >> ten. >> north of ten, whatever it was, wildly higher from where they are now. you throw in the towel? >> yes, double digits. and i said it was a possibility, and i still certainly believe that, and i'll tell you why. it's an election year. and what's going to happen in this election year? tax policy, tax cuts, implement, remove them, how that effects deficits, static versus dynamic scoring. we're going to galvanize the public to all the issues that interest rates are definitely going to be held hostage to. and in my opinion, tomorrow, there's not going to be any surprising with the ecb. they can't afford it. the engine of europe, germany, is sputtering. why? they can't even afford the energy costs of the industrial

base. their energy price keeps going up and hold that thought, it's not going to be much different here, so, in my opinion, i could see a test of under 4% with this move. we have five consecutive days where the ten-year's had a lower low than the previous day. we've had five consecutive lower yield closes. it is building momentum, all because of the fed. but the reality is, is that every week, or every other week when we have big coupon auctions, we redirect investor focus and interest rates go up. we redirect it more towards the fed and central banks, interest rates go down. here's what's important. the federal interest payments are now approaching $1 trillion. and as i said, if the democrats win, it's going to be get rid of the tax cuts, but that doesn't make any sense. why? here's federal remove thes, starting in 1980, $517 billion, then we popped over a trillion

in '90, 2000, we popped over $2 trillion. and the tax cuts happened in 2017, in '15, we had $3.25 trillion of income, in 2023, $3.42. and the last year, $4.44. does that look like we have a taxing problem? we have a spending problem. we can all have pretty talk and blah blah blah about central banks, but i will tell you this, look at the spread between tens and boons. today, it's hovering around 175. it's the tightest it's been in four months. how do you think that's going to react tomorrow? what does that underscore? it underscores the u.s. is going to have to pay up to borrow, and that's going to end up raising the price of poker for all the countries, china, the euro zone, the uk, as they all have to come to the well, because their economies are not going to look as good next year as they did last year. >> rick, i share your concerns. jamie dimon has said similar stuff, so, i'm with you. you have the conflicting forces without question.

but what's sort of the -- like, debt to gdp is approaching 130%. that seems to be the line in the sand, no developed company seemingly can recover from that. what are your thoughts when this part of the equation, the supply side, becomes more important than the slowing growth side? >> well, that's where you have your possibility of double-different interest rates. that makes one feel uncomfortable or feels too crazy to be true, then look for steepeners. you know what's going on right now? we're getting more inverted as we rally, we're hovering, what, around 45 basis points, minus 45 in twos to tens. we had periods where it was in the low 30s, looking like it was going to go into the high 20s, but it backed away. i really do think that we have a two-speed interest rate scenario. we have one where it's going to be central banks, they're going to be pressuring the short end. but the rest of the mid to long end is going to be focused on supply and all the issues of

politicking as we get closer and closer to the election. and in my opinion, inflation is that third stool. okay, here's where we have -- third leg on the stool. growth is definitely slowing. employment, labor, definitely seems to be slowing. and continuing claims don't point to it, but there's many other better metrics, quits or job openings, all those issues are definitely moderating. the one thing that i don't think is moderating enough is inflation. the fed will find a metric it likes, pcp, defladeflator, x-en. how many trucks are on the road when you drive? a lot of them. how much does diesel fuel cost? house much does an electric truck cost in california? i'm telling you that everything we buy is going up and energy is going to be at the bottom of that. and the fed, they could raise rates to 30%, it's not going to stop that dynamic. >> rick, always good to see you. thank you. >> thank you.

>> rick santelli. carter, we know where you stand on rates. do you think the rates are going lower, is that right? >> yeah, all of that is so compelling, you know, but happily, i'm not in the why business, i'm in the what business. and what's happening now is that rates are sinking lower and lower, and almost two years later, they're not higher for longer, et cetera and so forth, so, for now, yeah, i'm in the lower rates camp. >> all right, there is a lot more "fast money" to come. here's what's coming up next. the apple doesn't fall far from the tree. but family dollar may. why dollar tree is looking to sell off one struggling unit, and what it will mean for the discount retailer. plus, competition sizing up in the weight loss drug space. the latest developments from one health care company looking to tip the scales in their favor. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this.

welcome back to "fast money." shares of dollar tree taking a hit today the company announcing it may look to sell its struggling family dollar business which it bought in 2015, as consumers continue to struggle with high inflation. back in march, the company

announced it would close nearly 1,000 family dollar stores, so, maybe not entirely a surprise. was the stock reaction a surprise, guy? >> i don't think so, because this trajectory has been going on for quite some time. i mean, basically upper left, lower right. and if you put up a chart, you'll see what i'm saying. and it's not just dollar tree. dollar gen similar. we're going to look at five below, you see what's going on there. i mean, there's clearly problems on that end of the spectrum, which again i think speaks to the health or lack there of of the consumer. no, it doesn't surprise me, and i think it has more to go. >> five below down 14% on earnings. >> yeah, look, i think there's more pain to come here, but i think there is some parts about this quarter that i think are overlooked. first of all, their sgna increase was offset by gross margin also increase, and on some level, you've actually seen a little bit of relief in here. these are tough times, and, you know, the dollar tree, which -- you know, can't charge -- you

can't buy anything for a dollar in there anymore, so, i mean, it is a dynamic where i think this segment has really been suffering. and i think walmart continues to take lunch on both sides of the spectrum from the lower tier and from the upper tier, and it's walmart's game. >> five below's chart looks the worst. it's down 37%, 38% year to date. more given what's going on in the post market, but dollar gen, they look the best on this, and they look the best in the worst world, the worst segment. they are only down 1% year to date. dollar tree had issues before the takeover, they have issues during, and they have issues after, and they're closing stores. i think if you want to invest here, you have to wait until inflation gets under com. >> what do you see in the charts for a dollar tree or five below? >> you know, i was just looking at when you all were talking, we think of -- every dog has its day. just consider this. since its ipo in 1995, dollar tree is up 5x over walmart.

now, think about that, what? dollar tree, this dud, this lo loser? it's up 5x over walmart from 1995 to present. and so, the question is, is not about a good company or a bad company, there are moments when things are good, nvidia, and there are moments when they're bad, walgreens/boots. right now, dollar tree is on the ropes. i wouldn't want to own it here, but just to put it in context, its history is, it's crushed walmart, the greatest retailer of all time, with the exception of maybe amazon. coming up, shares of roche popping. a top exec will join us to lay out the glp-1 pipeline. and good news for boeing. the company launching its starliner rocket this month. can that help send shares into orbit? we'll debate that when "fast money" returns. missed a moment of "fast?"

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welcome back. the s&p 500 and nasdaq closing

at fresh record highs. the dow climbing nearly 100 points. disney doubling down in florida after settling the ron desantis legal feud. the media giant set to invest up to $17 billion in its properties there with the potential fifth theme park in the state. and a couple more afterhours movers for you. victoria's secret posting a beat. and chargepoint is posting light q-2 revenue guidance. that stock is down just a half a percent right now. roche holding onto the gains it made after releasing early stage data on its injectable obesity drug. the treatment helping patients lose an average 18.8% of their body weight over 24 weeks, giving the drug a potential edge in the field. it's one of three candidates roche acquired back in december. joining us for more on the glp pipeline is roche's senior vice president of global head of cardiovascular disease. great to have you with us. >> thank you for having me. good to be here. >> the analysts were very

excited about the outcome, because it really stacked up to lilly's and novo's product of the same point in terms of 24 weeks in. what can you tell us in terms of, you know, let's say everything's a go, how quickly would you potentially get this drug to market? >> yeah, i mean, so, we are really excited about the data. as you pointed out, 19% in six months, roughly, translating to that is about 40 pounds or so in six months. that's really exciting. that's the type of weight loss that really can be, you know, moving the trajectory of health, right, over 20% of weight loss, typically results in massive improvements in cardiovascular health, diabetes remission, protection of the kidney. so, i think we're all very excited about the fact that, you know, this is a very meaningful data set. so, we're going to do everything we can to move this as quickly as possible, but you know, we also know that this is a long road, right? i mean, this is drug development.

there's lots of milestones here, so, this is one of the critical milestones that we want to have. you know, at roche, we're taking a little bit of a longer term view and really focused on providing a data package that is as competitive as possible. you pointed out that it is a very competitive field. so, the focus is really can provide as wide as possible. >> we didn't get too much in terms of the adverse side effects associated with this trial, and that's what analysts are sort of looking for, though we understand that it's comparable effectively. i'm wondering also if you see comparability in terms of the muscle loss associated with using these dualin inagonists. >> with the 20% weight loss, it should be anticipated that, you know, there will be some degree of lean mass loss, so, we haven't yet measured that in this particular study, but we will be collecting the data in upcoming studies, no doubt.

having said that, i would say that we're well aware of that as a critical side effect, you know, besides the gi tolerability that you indicated. that is another reason that we take a little bit of a longer term approach, and really start thinking about not just agent in and of itself, but we also have others in our portfolio that we can combine to really think about not just the magnitude of the weight loss, but can we actually get to better quality of the weight loss, meaning improvement of muscle function, and most importantly, i think what patients really need, is the weight maintenance, or the durability of the response. >> are any of the products in the pipeline so far, are they -- are you thinking of them as potential weight maintenance solutions? we just heard from structure therapeutics and a lot of people believe their offering could be used as a maintenance solution. i know you've got ct-996, which is an oral, you know, agonist,

and i'm wondering if that is a replacement for an injectable in your view, or if it could potential ly be a weight maintenance product. >> i'm glad you asked that question, because, you know, the way we think about obesity, look, this is not a disease that is a one size fits all, right? so, i think we need to, as drug developers and health care providers, obligated in some ways to meet the patients where they are in their weight management your knee. so, we really, again, to reiterate, a portfolio essential vick view. people need to injectables, but we also believe that in order to really meet patients where they are, we would need oral therapeutics, too. so, we look where we can use them in patient segments, but also potentially as weight maintenance therapies, so, after weight loss induction period, for example, we can very much envision using ct-996 as a

weight maintenance therapy. much easier to take pills for majority of people than in injecting every week. >> the data for that is due out in june or july? how does it look so far? >> we'll have to wait and see. i haven't seen the data, obviously. but you know, anticipated very much, you know, with equal excitement, i would say, some of the preliminary data that we put out, you know, when the drug was still with karma, indicated that this is a drug that certainly has the potential to be clearly once daily, based on its, you know, the profile. and it certainly has the potential to be, you know, i would say as good, if not, you know, better in some ways, for other molecules in space. >> all right, thank you so much for joining us, doctor. >> thank you so much for having me. >> all right, so, it's not necessarily lilly and novo's

entire market to have. >> or maybe it is. so, those are the key players, and amgen is probably a third player. so, people are always looking for, who is the one that nobody found yet? so, they'll probably get some money out of this, but i think you are better off buying xbi, and looking for microcap that's going to be taken out. >> what i learned from this data is that roche has a lot of room to continue to develop assets they think have an opportunity. it does lead to more competition. right now, it doesn't seem like the competition is there. >> stock sold off 40% over the last year. but it got down to levels we saw three, four years ago, 28 held. and they have a growth problem, but the valuation suggests you could take a shot here. goldman just initiated with a sell rating, which i thought was interesting, but i think you buy. >> the r in grand noola. >> what is that? >> the european acronym. come on, man. these are the exciting kind of growthy, you know, version of

european big cap pharma. >> they're playing it wrong, too. >> yep. coming up, boeing to the moon. sort of. what today's starliner launch means. and cnbc is celebrating pride month throughout june. >> as a mother of a nonbinary child, i want my child, all of my friends, colleagues, in the community to be able to be given every opportunity they deserve without facing hate, without facing bias. so, that's why i choose to become an ally, because i have the power to reach out to new communities. i have the power to change minds, and so, i want to use it for good.

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all right, tim. so -- you're in this? >> yeah, and i'm trying to think about boeing, but of course, i can hear green day in the background. we play cool music here, so, we definitely do. so, i think about boeing, and i think about, again, the noise versus the reality of free cash flow. at some point, there is -- we are going to see free cash flow eaten into, and that's really what i think, as you look into early '25, not only is there not free cash flow flowing, but there is burn. this is the story for me around boeing. i think the story has been pushed out, but i think not by as much as you would think, given the news flow. i think this is a company that's going to have, you know, 15 bucks of free cash flow per share out by '26. and that's the reason i stay in the stock, because i don't bet against a company that i understand the news flow has been awful, guy brings it up all the time, it's not just about their commercial airplane business, it's about a defense business and it's about a duopoly. >> carter, your take on the

chart? >> yeah, this kind of goes in the pair of twos categorywhich is to say, no discernible immediate opportunity, at least to my eye, on the long or short side. but i'm with tim, at some point, it is boeing, hard to use that as a timing tool or a valuation tool or an investment tool, but it is boeing, and at some point, they'll have to right the ship. all right, coming up, america's favorite game is back. trade it or fade it, but with a twist. what the chart master thinks about some of this year's high fliers. at nt. f more "fast money" in two.

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after a 40% move in ten sessions. >> all right. so he's fading it. let's get to cava here, up 30% in the past month. tim, who questions whether or not this is america's favorite game, do you trade it or fade it? >> i'll be, i guess, equally

cynical on cava. i think the move the stock has had is exciting, it's obviously a growth story, it's obviously whether this is the next cmg or someone like that, this is what we're getting. it's what we're getting in fast casual. their margin numbers, the margins in the first quarter were very impressive. having said that, it's a company that's going to earn 55 cent as share next year in terms of consensus. $92 stock, you can do the math on that. very expensive for a $10.5 billion company that i think, you know, again, the marginal increases from here are a lot harder to achieve. i'm a seller. trade it. fade it. fade it. >> yeah. >> maybe you don't like it because you don't know how to play? >> not his favorite game. >> whoa. whoa. in my grill. i deserved that. >> you questioned it. i said it's america's favorite game, you said, is it? i don't like that. >> we are -- you know, yeah. we don't like that. >> carter? what do you say? >> sure, well, here's another one just for fun, i thought this sort of price target thing is

always fascinating, when you have, in this case, from 14 analysts, they believe the stock is worth $88 in the coming 12 months. trading at $92. here again, this will be lower than higher, but the chart, it's a pretty orderly, steady uptrend. my hunch is, i got a green arrow there, stay with this momentum. my inclination is to trade it. >> all right. and let's get to decker here, also up 30% in just the last few weeks. so, guy, do you trade it or fade it? >> this is -- fade it, melissa. i'll start with that. >> thank you, guy. >> well done. >> this is one we actually like. parabolic nature of this move suggests that it's going to stall at some point. the quarter was great, inventories are under control. margin expansion, but valuation is a little bit stretched, and, you know, a move basically of four bagger in the last two years suggests it's going to take a breather. >> how many pairs of uggs do you have? >> i have hokas. when you put your uggs in the fur and they sweat, they stink.

back to you, mel. >> really too much information. >> thank you. >> carter what say you about deckers? >> sure, i'm in the fade it category. wall street thinks the stock is worth less than it is now. look at the chart. it's a technical breakout. sell, hedge, do something. >> all right, up next, final trade.

time for the time trade. carter? >> silver's just dipped 10%, buy the slv. >> tim? >> it may not be america's favorite game, but this is america's favorite show. sanofi. >> steve? >> i think it is america's

favorite game. crispr. >> guy? >> looking forward to see tim in his low rise shorts tomorrow. >> denim pant suit. >> that's america's favorite game. cg seems to have found a home here. >> thank you for watching "ft.seyoas" e u back here tomorrow 595 at 5:00. "mad money" starts right now. field for all investors. i promise to help you find it. mad money starts now. hey, i'm cramer. welcome to mad money. welcome to camerica. i'm trying to make a little money. my job is to entertain you, educate, and train you. so call me. for years hardly anybody knew jensen