it's hard to get a major deal through because of such stringent regulatory oversight. >> julia boorstin with a live shot of the week from sun valley. looking forward to all of that content. >> indeed. media stocks not doing well now, so we'll have to see how they figure out how to spend and grow less. >> records for the s&p and nasdaq all doing it barely. that's going to do it for us on overtime. fast mu"fast money" starts here's what's on tap tonight. yields move higher. can the earnings continue? we'll break it down. plus, tesla trekking higher. the ev maker extending its winning week to ten days. can the stock keep up its rally? we'll debate that. later, not love inn it. shares of micky ds at their lowest level in close to two years. one more trader says there's one

more room to fall before they hit the buy button. tim see more, karen finerman, dan nathan, and steve grasso. we start with the rally and stocks. citigroup hitting its highest level in almost 2 1/2 years. bang of america at its best since 2022, while goldman sachs hitting a record-high. ahead of the kickoff of q2 earning season. jpmorgan, citi, an wells fargo reporting friday morning. so what do you make of this positive price action ahead of the results? not the best setup, karen. i know you don't love this kind of run-up in earnings. >> i don't, i don't, because the bar just gets higher and higher, and then it's harder to jump over the bar. if we look particularly at citi, which has had the strongest run, its price earnings turned higher. still, though, if you just came to it today, it is not expensive, and i think of the money-setter banks, and, of

course, i love jpmorgan positioned there, but citi is more upside. it's still, even after this run, trading at this astounding discount of about 80% of tangible book value. and, you know, if you look at jpmorgan, it's trading at 2 -- >> 2.1, 2.2? >> a little higher maybe. yeah, around there. tangible book value. so i feel like this has the most tangible upside. but i feel they'll have pretty good capital markets and management. we'll see on the net interest margin. >> there's a belief amongst a lot of analysts that income will have troughed in q2, so there will be an inflection point going to the back of the year in addition to a pickup in investment banking as the yield picture improves. >> we had a couple of reports. jpmorgan said their market revenue and investment banking revenue is better net income. the first quarter was something that was a drag, and we heard about it from the banks, so i

think it's an environment where it's really all working for the banks. i think it's all working for your the analyst community, the investor community to say i want to pay a higher multiple. it means for jpmorgan, great, fantastic, but it certainly means, i think in the case of citi and bank of america, and wells fargo may be finally coming out of the penalty box, justifiable penalty box. if you think about citi's rating, it's coming from a dynamic history and looking at servaiss they no longer want to be in. this is a bank behaving very differently than it did. it still pays a 4% dividend yield. not a reason to buy a bank, but think about the big swath of investors that were moved out of this space because banks were no longer paying divs. the big financial crisis, this was the reason for owning the banking sector, the stability, the ability to have the income. i think the regulatory pressure has come back. i also think this has a lot to do with the perception of credit

and the lack thereof a massive credit downfall, whether it's cre or a lot of other things. >> i want to go back to the setup. they have had a very big move. when you think about that and expectations, i go back to q1 results, i go back to some of the cautionary things we heard of out of jpmorgan ceo jamie dimon. okay, it is a hard setup. the market is 2.5%in either direction. but look at the move. it's up 11% in just the last month and a half or so. when you through about that move out of jp more gab, it was april 12th the stock gapped lower and it was down 6.5%. some of the commentary has been specific to how he was positioning the bank, right? >> and he's conservative. >> i get that. but, you know, the s&p sold off about 5.5% to 6%. we're much higher right now. i just think in general, the earnings guidance that we get

across the board is not going to be the thing that makes you go in and buy the market the next few weeks. >> carson, how do you feel about the banks? >> yeah, the same way -- the way you started off. i don't like the entry point. i don't like them up as high as the entry point. citi is justifiably trading like a turnaround stock. they're all up anywhere from 21% to 25% year to date. where you see the most value are the ones -- the turnaround story. i don't know if citi has more in the tank to go higher. i think they're going to be a direct reflection of the economy. the economy fades, and then these bank stocks will fade too. obviously we're dealing with positive seasonality. we have a ton of money coming into the market in july. july is one of the best months to be into the market, and these bank stocks are trading with the overall market. so as long as the rates backdrop

is conducive to a bull market, they'll continue to outperform, but i think rates are coming in, and i think these stocks will too. >> i think there's an interesting point. we had a discussion yesterday about our concerns about the consumer showing. so how can you be concerned about the consumer and sort ofdy vors that from your takeaway from the banks? is it because these particular banks are so good at insulating themselves from the kind of consumer that will have the delinquencies? they're better reserved than others, and so there's some sort of island effect with these banks? >> they're part of the reason why the consumer's under pressure. the banks are making more money. my feeling where i'm concerned is not right here on credit because the job market is their friend and they have jobs, although, let's start to watch these jobless claims numbers. we have a number out on thursday. i think it's all about consumer spending and discretionary. when i talk about the consumer,

i'm not worried they're not going to be able to pay their credit card bill. i'm worried that they're not buying stuff, buyinging the same stuff. what i'm hearing from companies -- we're going to talk about mcdonald's, whatever you want -- i feel it's significantly under pressure, not just a little bit. that's all from the delta where they had nothing to spend it on and we're getting nailed 25% gdp by the government. this is about as good as it gets for the consumer, and that's my issue. that's why banks trade and outperform. who would have thought in a market you would have defineded a iowa and semiconductors in 2024 and you'd be right, that citi would be outperforming amd. it's outperforming for different reasons and for each company. no, i don't like the trade into earnings, but there's nothing here that tells me that this rally in banks doesn't continue. >> to the credit issue, we saw absolutely pristine credit, and it wouldn't surprise me at all

if that starts to tick the other way, but i do think they're well preserved and let's take jpmorgan, for example. i think they're exposed to the lower end of the spectrum. it's really not that high. that's not the thing that's going to move the needle for them or citi or bank of america. >> right. so there's a clear distinction what they're seeing versus what we might see from capital one financial sort of -- >> discover. >> discover, yeah. >> recently, auto delinquencies are ticking up probably to the highest level in 13 years. i think it kind of speaks to that is not a discretionary sort of thing. that's a must-pay sort of situation. the other thing i would mention about capital markets, karen, ipos last year were fairly anemic. it was 127, c$127, close to a b. that has to be good toward

investment banksing. >> the other thing in terms of capital required to be held on the balance sheet should be abating. that could be huge for investors and great news for the capital return. >> i'm being cynical but not cynical. when you think about stress tests as far as banks goes, they never thought about capital flight, right? some of the issues they saw they never factored into their tests. so i think regulators at this point absolutely are taking pressure off the banks. that bull's-eye, i think, is very different than it was 15 years ago. >> we saw a lot of payouts as a result of passing the latest stress tests, and, karen, you're anticipating that could continue and/or increase? >> yes. i think the expectation of a better regulatory regime regardless, having nothing to do with the election, is already getting priced in a lot. so if it comes out worse, we see

a worse endgame. that would be bad. but i don't really think we're going to see that. >> new data showing middle private market companies grew their earnings by double digits in the second quartering giving potential investors a glimpse of what's to come this season. we're joined on set for more. full disclosure, he's married to one of our traders. >> it's not me. sorry, lawrence. >> i like to call you mr. finerman, but we'll cut to the chase here. we want to see what you're seeing because this is a good acc indicator for what we are to expect from the earning season from the public companies? >> this is a reflection of the actual results of our portfolio companies for the first two quarters. it's not a forecast. it's actual. >> it's what's happening. >> it's very reflective of what's happening in the u.s.

economy. >> we're talking about the consumer. what are you seeing about the consumer because it looks like you're not expecting much. it came in a little better, but you're expecting a little. >> i think tim was spot on in his earlier comments. i think the results at 4% growth rate are actually better than expected, but they're clearly weaker than other sectors. we're at a fork in the road, the excess savings, the stimulus money is ploifmostly gone, and have a high growth rate at over 200,000 jobs a month. wage growth, 3.5%, 4%, that's $150 billion a year of growth in consumer income just by itself. but you have the offset of reduced savings and you have more growth outside the consumer sector than inside. >> mr. finerman, i know you

watch the show most days, we've been talking about the software. we know what's been going on. it's the sem michigans exposed to the generative ai. i know in your partnersortfolio have a lot there. this is something we have our finger on that it might be the first sort of shoe to drop. >> well, i think growth rates have come down some, and in the private markets less than in the public markets, enterprise software is down 50%. we're seeing it down maybe a couple of points but still growing at 10% a year, and i think what we have is -- it's -- the customer's very sticky, but the cost per user -- excuse me, the cost per user keeps going up, but the number of users has flattened out, and many customers are cutting a few seats here to add a few seats there. so for the strongest players,

they still have pricing power and you see margins going up. for someone who's a player where there are three or four alternatives, the competition is getting a little nastier. >> lawrence, talk about interest expansion. one of the things you noted in your letter, these are decent times, let it's not get too carried away. there is something building. high fehr longer has a price to be paid. i'm curious from a caret it perspective how you're analyzing these companies. >> we're a fan of interest expanse. >> coming right to you. outside of the burden you're putting on those companies, are you seeing pain, or is this something that, again, we've been expecting this and we've seen very little. >> so there is some pain. the aggregates are great. the u.s. economy is doing really nicely. private equity companies are coming up faster, but those companies that are weaker start to run out of liquidity eventually. some of them are laggards before

covid. some are companies that didn't recover fully from covid. a few of them are companies where the sponsor paid too much. in 2021 there's some eat ta adjustment. maybe the adjustments didn't all convert into eat ta. the margins of safety from the borrower's point of view is different. it's gone from them to us. i think anybody should expect some uptick in default rates over time in an environment like this. we haven't seen it yet. but it wouldn't surprise me if it comes. that margin of safety shifting to the borrower -- excuse me from the borrower to the lender is not a bad thing. >> steve? >> lawrence, thank you, when you look at the stocks, everyone's worried about the six stocks that are moving the market as an overall basis, but those six stocks are responsibler if the bulk of the earnings. so if you look at earnings going forward, they're projecting to be up 30% year over year, while

the other 494 will be up 5% yeao you? >> i can't speak to that. the u.s. economy is doing very nicely. inflation will come in a little above expectations, a little below expectations. but the key is productivity growth and real companies. in our universe where we're leping to resilient companies backed by smart owners, that's really not a concern. at the same time if you asked me what the stock price is going to do on those six names, i have no idea. i would ask karen. >> well, thanks, sweetie, for being on the show. private credit, let's switch gears. i've followed your career closely for a long time. you've been in private credit for a long time. are we at peak private credit?

even jamie dimon says private credit is too crowded. what do you say about the business? >> i knew you were going to bring him up. >> uncomfortable for me to sit here. >> how do you think it feels for me? there's no golden age and there's no bubble. it's a good time for private credit, and it's up to the lenders, the investment managers to make these loans, to be selective, smart about picking resilient borrowers, to be smart about picking companies that have smart owners, and even jamie dimon says there are some really excellent players in private credit, and since jpmorgan agents lends us 4 or $5 billion, i think we fall in his excellent category. >> i hope so. >> lawrence, great to see you, thanks for coming by. >> nice to see you, melissa. >> thank you, lawrence golub. it sounds like good news

overall. >> i think it is. the layers of the economy that are particularly strong for the lenders are the parts we probably knew were there. again, think about industrials, technology, and health care on some level and the consumer discretionary headwinds are not necessarily born out of the straight credit is the view. but i do think to the asset class, to, you know, private credit, it's become such a massive, massive, i think not only a conversation, but it really is an allocation that's changed dramatically for retail, for high net worth, and that's something that's actually really very exciting, especially when you consider that the vehicles to invest through in many cases are a lot easier to access and in some cases have better liquidity than ever, even though that's not what you're investing in in private credit. >> listen, this is an area we've seen blow up in the last few years, and there are some dynamic, i guess, going on in the traditional banking definitely since last year as it related to svb in march and the

like. so, again, people are having a hard time putting their finger on where some of the bad credits are and that sort of thing, where the bad problems are going to be next. we ee been talking about it, where's the risk in the commercial real estate market and the like here, and a lot of the stuff is attached to itself. the more volatility we have, there's some chickens that are going to roost. >> i don't want to open up an argument between you two, but do you agree with lawrence? not everybody has the smart investments as he has had. >> like i said, i've been following his career for a long time. if there's pain to be had, they will participate in that pain, but i think it's a very high likelihood that i'll be around to pick up the pieces of that pain, and that's where you have an outstanding outfit. >> the one thing i would say about private credit like any asset class, with risk comes reward. you can't suddenly expect to get 10%, 11% returns when the

treasure ray rate is where we know it is without taking on some incremental risk. there's no question there's a difference between managers and how they manage that portfolio. sometimes it's that. coming up, french fries and fitness, two things that don't go together, but shares of lululemon and mcdonald's are at lows. how do you deal with the smack down and lulu low? shares are up big at tesla in the last ten days. is there any charge left in this trade? we'll find out. don't go anywhere. we'll be back in two.

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welcome back to "fast money." mcdonald's shares dropping almost a percent today, hitting its lowest levgle since october 2022 as consumers continue to feel the pain of inflation. the giant introduced $5 meals, so far failing to make a dent in the losses. this year heading into earnings at the end of the month. we just talked about this. the pain continues here, tim. >> i think there's a huge

opportunity. i think there's an opportunity across hospitality, whether it's quick serve, fast food. anyway, i think you have it in the case of a nike and a liulu, but lulu worries me somewhat different on a level than nike. i think there's a little under armour in lulu. i think the saturation and competitive landscape for an upstart that's so new, which is what they were, they had missteps, they are apples and oranges. mcdonald's, it becomes interestingly enough that it's cheap enough. i think it's probably not here, but on a trading basis, it's traded sub 20 times. it's trailing. what are they going to do going forward? it's margin pressure. i think you're getting setups. i don't think the news flow is getting better. lulu is doing this at peak margin. that eeg something that will

have to get weaker. it's just not at the time. for someone looking for a long-term opportunity this is something i'm watching closely. i think we air foimg to get great companies cheaper. >> truist called this morning, they're sending their own credit card data, which means meaningful pressure on the fast food stocks especially mcdonald's. they think the setup was terrible going into q2, but longer term it's going to be of value. >> that may be. what i like about lulu versus mcdonald's, mcdonald's in this very competitive space and lulu is in a very different setup. they're the leader in the industry, they're at the high end of the industry, so they're going to a different consumer, one that i am not as worried about as the mcdonald's consumer. and i think lulu just -- you know, they face competition that they haven't faced before, and that's thrown them a little bit. but i think they're an extraordinary company. 20 times earning a little under

the market multiple. to me that seems compelling. >> lulu hitting its lowest since march 202 3. the consumer is there concerning the spending strength, but it's still facing a lot of competition, right? it's still facing a consumer that doesn't necessarily want to pay 100 bucks for another pair of leggings that he or she may not need. >> i want to go back to the relevant one. interesting to me, there was no shortage of analysts investing. look at how the stock traded today? it closed at 17% or so from the recent highs just last month. i'll just take you back. maybe they can pull the chart up. on april 24th, they had a huge gap higher, kept on going, and it seemed to be off to the races. it's retraced that entire move. to me, you know, here's a

company that's growing earnings 20-plus percent and maybe that's something that's a moving target, but trading 20 time this year and 43 times next, so to me, we're talking about mcdonald's, how cheap it is and how cheap it can become, i think the investors are going to get a bit more discerning on some of these names. >> that peak was june 18th. that was the date of a key reversal. we saw a lot of stocks with key reversals that day, grasso, and a lot thing they have not gone off of those highs. they're still well off of those highs. >> yeah, i look at it a little bit differently. i look at mcdonald's, which is a very mature company, and i look at the newcomers to this fast casual space or fast food space, and to pick up where dan left off, yeah, chipotle, no doubt, the stock maybe has a short-term peak in it. but if you're looking for international growth and real growth that you're not going to get in a mcdonald's, you've got to go to a chipotle where they

have 3,500 or so total stores with only 70 outside of the united states. you're not getting international growth like that with mcdonald's. shake shack, chipotle, granted, they look like they made mid-term top, but going forward, that's where your growth is going to be. when you switch gear, lulu is down 42% year to date. then karen mentioned gap stores is up 11% and levi's is up 13% year to date. so it's changing tastes, more competition, and different styles, and more mature versus more nascent brands that are coming back to life. >> demm denim and wide-like. >> levi's double earnings just because denim is in. i think that's a good example of where the street has to make some assessments, and i think people are going to be caught on

the wrong side of those trade for sure. >> there's a lot more "fast money" to come. here's what's coming up next. tesla's charge anothering 1 100%. the big bounce off the e vmaccer's lows and whether the stock can stay in the fast lane. plus, home sweet home. everything you need to know about the housing trade and where inventory and prices are headed neck. you're watching "fast money" live from the nasdaq market site in times square. we're ckig aerhi ba rhtft ts.

ja welcome back to "fast money." tesla revving another 4% higher today, sending its winning streak to ten straight days. it is the stock's longest run since last june when it was up 13 days in a row. the ev maker has jumped 40% in the latest run, is up nearly 90% from its april lows. wow. and there's a robo taxi event around the corner. it's all coming up roses for elon musk, dan. >> when do you think those robo taxis are coming up on the streets? is that coming up around the corner? this is really exciting. at the end of april when the stock fell off a cliff and the

stock fell $238. here we're at $262, investors were concerned about their delivery of cars. at that point they were looking at this as an ev carmaker. now if you're getting excited about the stock getting up 100%. i want to bring you back a month ago. wouldn't you think that would be pretty useful for building a robo taxi network and that sort of thing? you can chase it, have fun with it, but there's a good chance, you know, you see this thing a bit lower after this robo taxi event and we get a sense there's not any imminent risk of those things being on the streets. >> steve, what do you think? >> yeah, i think it was just a lopsided market. bears got off on this and shorts got a little too deep on the

name. deliveries got better. their battery storage which no one pays attention to was up 100%. there are a lot of different moving parts and they truly have become -- obviously rivian was paddled back to life so recently, but it's just basically tesla, rivian, and the chinese e ve companies, but i think you get a little over your skis, you start pressing your stocks down, pulls a rabbit out of your hat, the stock exchanges, rinse and repeat. i think you have the ability for the stock to travel and levitate a bit from here, but we're sort of in that overextended period on both sides. so if you're long, i'd clock the ticket right now and then look for a better re-entry. >> it's interesting that most people would also think that this is a stock that has incredible shortages, and this has been a short squeeze. it's actually not really. in other words, there's about a 3% short interest in the name, that which i'm tracking here,

and something that's come in relatively dramatically since 2022, '21 area. but, look, to me, this is a story where the stock was way overdone. i think also if you think -- >> to the downside. >> to the downside. but i mean in terms of institutional sponsorship. noerds, we know who holds the stock and the many who holds the stock on a retail level. institutionally it had been left for dead. 260 is arguably where it broke that down trend that goes all the way back to 2021. i'm not at all. this was a case where it was very much under. coming up, a head scratcher in housing. what it means for the sector for the rest of the year. plus another nvidia bull upping his market. how much more you see to the upside and when it will get there when "fast money" returns. trading app makes trading easier.

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welcome back to "fast money." the dow dropped more than 50 points. shares of helen of troy sinking

28%, the worst day dating back to its ipo more than 50 years ago, the company posting a big disappointment miss. they make hair products. i think the people might be wondering? oh, no. i thought you were looking at me when you said hair products. i do wear a lot of product. >> shares of nova nordisk lows as mounjaro outperforms wegovy. mounjaro leads to faster and greater weight loss. it was an observational study, not a clinical study. elon musk confirms xai will be building its own iowa rather than building off servers, the stock delivering 3% lower on this news. meanwhile the numbers are not adding up in the housing market. prices rew remain elevated. so what gives? diana olick has more on what's

going on and what it could mean for the housing market in the second half of the year. diana. >> melissa, i don't want to get too technical on you, but today's housing market is working in weird ways. it can be traced back to 20 years to economic forces unlike any other, the foreclosure crisis, great pandemic, and the unprecedented quick cut and spike in mortgage interest rates. take a look at is up play of both newly built and existing homes for sale. it shot up during the 2005 housing boom and the ensuing foreclosure crisis which flooded the market. so home building basically ground to a halt. by 2012, new homes, they were just 6% of all supplied. that's usually double that. then total supply dropped each mer when the pandemic spiked. now it is slowly climbing back, but in a weird twist it's mostly new home. the month's supply of new by built homes for sale is almost three times that of existing

homes. months is up play would be how long it takes to sell at the current place. new and old home months supply usually tracks pretty closely, but now new construction makes up 30% of total inventory. this is due, of course torsion roller-coaster mortgage rates and spiking to 20-year highs two years later. that makes homeowners who wanted to move up stay put, cutting supplies further and makes buyering out there shopping hook for cheaper homes. you can see that in the month's supply of homes for sale by price in may. it's the lowest in the 100 to $500,000 range because that's where most demand now lives, but that is despite the fact it has increased the most in those years. the homes are getting eaten up fast and that, melissa, is why prices are still going up. >> diana, you mentioned the two existing homes and new homes are

tracking each other. what is the historical norm? is there expected to be some sort of convergence where the new build is going to slow down? lawrence was saying that the golden handcuffs are coming off because some people have to move and they're seeing an increase in existing home inventory. >> yeah, but a very, very little increase, i would say, in that inventory. a six months' supply of homes would be considered a balanced market. we've seen it generally in the 4% to 5% in the prepandemic. now we're barely in the 4 range. we're talking existing homes generally in the 6% range. now you have new in the nine-month range and existing in the three-month range coming out to four. if that makes any sense. what it means is we're going to see the builders start to either slow down or ease up on their starts. we're already seeing starts come down dramatically from the last two years and you'll see a little bit of that new supply

come on the market. here's the catch. if we see mortgage rates come down, what does that do? it releases that penalty up demand of buyers. so even if existing supplies start to go up because you say, all right, i'm ready to sell, you have a flood of people out there ready to buy. >> let me ask you something on the higher end it looks like there was a little bit more of an inventory build. is that a phenomenon of people saying, oh, the house down the street got x and i'm only going to sell for x or higher and the buyers aren't quite at that price yet? >> yes, so actually in the million-dollar-plus price range you have a four-month supply of existing homes for sale versus the 100 to 250 is too much of a supply of homes for sale. twice as much. that's because, a, higher end buyers are not that much mortgage dependent. they don't care about mort mortgmortgages. they're paying in cash. it sits longer and builds up

because it sits there so long. >> diana, thank you. diana olick in d.c. for us. tim, what does this mean for us for the trade? >> if you look at the components of the trade, it's also interesting because it looks like there's been enough of a balance that you skr different names at the top that are not just components of different parts of the construction process, whether it be hvac or elevators or things like that, but also security systems. and these are all things that i think will ultimately suffer under the weight of the discretionary pressure. i think housing prices have to come down. it's kind of like what diana described. there's going to be a new flood of people coming into the market and that will brung down market prices. >> coming up, nvidia jumping on a bullish car. just how high do the analysts think this darling can fly? we'll fly into the numbers next.

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in nvidia popping 2.5%. that's nearly 40% upside from today's close. analysts saying they see no signs of a pause in demand for the company's iowa products and data center revenues could hit $200 billion next year. nvidia shares still about 7% from record-highs hit last month, and, of course, that was the day of its outside reversal. grasso, what do you make of this call? >> well, this is the seventh price target raised in the month of july, and we're at july 9th. the average price target is below where it's trading, which means there's going to be more price target heights probably in short order. i got long with my second tranche with a long handle on it. i could probably own more if i wanted to, but i'm going to buy on strength. i think they still own, as we know, 80%, 85% of the iowa

mar-- ai market. every sector is going to benefit from it. they're still the leader. i think it goes much high sneer they already raised their guidance for guidance revenue two. they say they're going to make a lot of revenue from blackwell this year. >> second half. >> so the bar keeps going higher and higher. how do you like the setup going into this earnings report? >> it's hard to say. it's delightful, right? it's -- although, if you -- that $200 billion number, if that is correct, then the setup is fine. you know, i don't know exactly how it got there -- how it will get there, but i think obviously they have to beat -- meeting the street is not good enough for sure, but i think they're still in that part of the growth cycle where they will be. >> i do too.

i also think the street where they are falling all over each other as they raise prices, i've been conservative on ai servers. that's not something they've gotten their arms often. i think also blackwell's change much higher and that's a place for the street to go. >> i'll say this. they don't report until august 23rd. 40% comes from microsoft, google. and meta. 100% growth in earnings this year, and 2025 has been going up. it was 25%. now it's about 35%. so the expectations keep going up with the price. >> do you think the other companies reporting at the end of the month, do you think that's a bad thing? >> no. it's up $2.5 billion. the more that happens, if revenues keep decelerating and

some of these buyers of the stuff, then capex is going to go down. if they're not able to get the return on that investment any time soon, you're going to see capex kind of fall off of it. >> coming up, the first look at the 2024 sun val will conference. what to expect as ceos gather to discuss everything from ai to streaming to the exclusive interview with sofi ceo anthony noto. we'll go live to idaho for all the details.

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welcome back to "fast money." media and tech titans meet and for most, media streaming is top of mind. julia boorstin is live in idaho with more on what we can expect. julia. >> reporter: well, melissa, this annual conference gathers media moguls, tech titans, and deep pocket investors. this year there will be a lot of o talk about the just announced merger with paramount and

bytedance. david zaslav is here. his disney bundle is coming this summer and the sports streamer. >> we're exciting about venue. it's a really contemporary product. you'll be able to see all of the hockey, nascar in between fox, warner brothers, discovery, and espn. we have, you know, about 75% of the sport. so i think it's going to be pretty compecompelling. >> one big question is whether warper brothers discovery holds onto nba rights with nba commissioner adam silver there. patriots owner robert kraft and roger goodell. i'll be sitting down for an interview on thursday morning. another name we'll be interviewing is legendary

investor, a leader in ai, and big democratic donor, reid hof hoffman. >> julia boorstin in idaho with what's going to be a huge lineup from sun valley later this week. but in terms of media, there's a lot of challenges in this space, and i'm just wondering what they're talking about. >> well, i don't know. it's who the king of the hill would be next if they were there, right? just enormous transformation here. i don't know. i'm not that optimistic on some of the bundles really working. i almost picked it for the draft, though, wbd, because it's super levered. what the hell. it could go really high. but it could also crush. >> and it has so far. >> it has so far. but it's early. >> right. but the backdrop, considering, you know, today from a few years ago is extremely different in terms of valuations of these companies and expectations of

this space. >> and there was a time you were paying for the top line on streaming and you were paying for the growth and now you're really paying for the bottom line. the separation is all about free cash flow. when you think about disney, over the last couple of days, you've seen upgrades on box office being better, but tt'has not really where it's all about. up next, final trades. and d to keep up. thank you, verizon business. (kevin) now our businesses get fast and reliable internet from the same network that powers our phones. (aaron) so whatever's next... we're cooking with fire. (vo) switch to the partner businesses rely on.

(grandpa) i'm the richest guy in the world. (man 1) i have time to give. (man 2) i have people i can count on. (grandma) and a million stories to share. (vo) the key to being rich is knowing what counts. time for the fame trade. st steve grasso. >> viking holdings. i bought this two months ago. staying long. i think it goes much higher. >> tim. >> disney. i probably bought this at 130. it's in the low 97s. no. i would say disney is something

that looks cheap on the sum of the parts. >> karen. >> yes, as much as i love netflix and they have won the streaming wars for sure, i have to sell upside calls. >> dan. >> software, i would be a little cautious. >> tnkhas for watching "fast." "mad money" starts right now. my mission is simple. 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 cramer. i'm just trying to make money. my job. not just enter stain entertain but put it in perspective. i get up 3:30.

some