like technology gdp, plus a little bit, minus a little bit. i think that's where the clues come in. >> vix back below 20 today. >> yeah, playing right along. the s&p 500 has rallied up to the 50-day average. it's constructive, but not yet decisive. >> and the s&p up, as well. that's 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 grande jolt for starbucks. the stock jumping 24% as they boot their ceo and replaces him with brian nichol of chipotle. what will it take for him to fix the problems? a dave dive straight ahead. plus, inside the mind of main street. how investors are feeling about the market after the recent bout of volatility. we'll break down the results coming up. and later, the traders take on who could be the next act vigs target on wall street. what's behind dell's latest

winning streak. and the battle with insurance, as millions battle obesity. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, steve grasso, dan nathan, and guy adami. we start with the ceo switchup at starbucks. sharing spiking 25%, their biggest increase since going public in 1992. that after news the chipotle chief will take the reins. starbucks has been a favorite target of activist investors since the ceo took over last year. elliott and starboard have taken stakes in the company and earlier this year, howard schultz penned a scathing open letter calling on the company to fix the open stores. let's bring in kate rogers with some of the reaction to today's news. a lot of analyst upgrades today, kate. >> certainly. busy day, melissa. the starbucks chair said it this morning that nichol is the right leader for this moment, and clearly wall street agrees. analysts pouring in, mostly

positive sentiment. td writing, in our view, starbucks picks up a hall of fame restaurant ceo and his appointment as starbucks ceo and chairman suggests a new era is under way. btig saying, we believe this is a significant victory for starbucks, and evercore isi writing, brian is likely the one restaurant executive that has the gravitas to address the howard schultz founder overhang. howard schultz with a statement in the company's release this morning, saying, quote, he has my suspect and full support. elliott, the activist inves or the, also saying it welcomes the appointment, and starboard out with a similar vote of confidence. we believe this represents a positive outcome for partners, shareholders, and customers. scott wapner reported that trian is happy with today's outcome and sold their starbucks stake after building a substantial holding. and shares closing up nearly 25%

today, melissa. remarkable. back over to you. >> kate, thank you. kate rogers. and the flip side, chipotle shares took a plunge here. tim, you've been a shareholder in starbucks. >> i'm not as big as i want to be. i'm sure i've said i think i'm going to get it lower than it was yesterday. and so, the dynamics in terms of the near term trends for starbucks, i don't think really change. i think they've got headwinds when it comes to the consumer, china, even some of the issues within the stores. but what this news does, and i think if you listen to a couple of the analysts, and i think it' piper that calls this a game-changer, it's a game-changer for the analyst community, too, because it allows them to put a higher multiple on the stock. i don't think it changes the eps trajectory. but as a shareholder, very happy about this move. would like to have been bigger into this move. i do think it's acar be careful because this isn't necessarily an easy fix for starbucks. at this point, this went from a value play, if you believe

recent guidance, to one where i think you actually -- it's not terribly cheap. >> and the point on that is when niccol came in, there was the illness, the outbreak -- >> e. coli. >> something was actually tangible that had to be fixed and was fixable. this is slightly different situation where the macro is working against starbucks, as well as the entire industry. >> yeah, that was walking into effectively a 2-15 team that had talent and basically making a couple tweaks. this is a team that's obviously been sort of mediocre for a long time. it's sort of on the other side of a growth trajectory. doesn't mean they can't pull it off and doesn't mean he's not the right person for the job. but when you see this move, the question to ask, do you chase here, are you going to get it cheaper? i'm sort of with tim on this. for the technicians out there, this level we traded up to today is basically the third point of a downtrend that we've been in for the last 3 1/2 or so years. so, i think it's great news. i think they get rerated. i don't think the stock is

straight line higher from here. >> when you get a situation where the opening print is the low of the day and you have the range it had today, that's a powerful move on that sort of volume. but when you think about it this way, it's like, if warren butch fet buffett had taken a stake in this thing, would it be up 25%? the fundamentals of this company, they are not likely to be changed any time soon. >> 10% of their sales come from w china, i think same-store sales dropped 14% in the last quarter, sales are down 11% year over year. so, this is not an easy fix as it relates to outside the u.s., and we know that there's just a lot of competition, consumer discretionary is kind of stretched here. so, to me, it's kind of way, way overshot here. >> you're going to get the kitchen sink quarter. and to echo everyone else's sentiments about it, 50% of the stores are located outside the u.s. with 2% of cmg's located outside the u.s. digital. he brought that to cmg. with digital, it's already

mature. so, there's 24 million people on their digital platforms, both cmg and starbucks. go ahead. >> technology investment in starbucks, there could be further inest vestment there. he brought the auto-cado. >> i'm not sure what he's going to bring to starbucks that will be a robot behind the counter, but the baristas can probably be replaced with efficiencies there. but i his -- think that -- i believe the stock probably comes in from this spike higher, because it's not a plug and play. it's not an easy fix. >> as somebody who likes a chipotle bowl as much as -- >> i do. i do. and i get disappointed when they don't have the ingredients i want. sorry, the question is? >> hobson's point is, niccol is a retailer through and through. he really is in tune with the consumer. inspirational leader. that's probably a little bit of what starbucks' work force needs right now, because they've been

disappointed by the trajectory of the stock, i'm sure. for that, are you optimistic? >> well, i think -- there's no question that there's been a confluence of events that have made cmg's story a great stock to own. everyone's done the math on how much the stock went up during niccol's tenure there. it's north of 700%. but he came in at a time when i think their loyalty program, their digital dynamics were things that were just happening. they've been happening everywhere. i think there's been some changes to the menu. some of this really has been the story there. it's been about -- it's been around the menu. i think there are near-term same-store sale challenges. i do think there are margin headwinds. and these are things that, again, i would have said yesterday. and i think the stock was under some pressure. so, no, this definitely does not help. and i think there are a couple folks, including the cfo who had resigned, or put in his resignation, now says he's going to stick around. if there's a shot at the ceo chair, you probably stick around. there's a very strong team,

let's continue with the sports analogies, the bench is strong. and you have someone that can step in. the question is, was this stock under some pressure, for f fundamental reasons that had everyone cautious already? the answer is yes. >> and what is he going to do with labor? labor and china, to dan's point. if he doesn't have that real deep, vast, experience in international, and you don't know what to do with labor, he's her of a marketer, and he's great at that. >> so, it sounds like you guys would probably fade this move. do you buy chipotle? >> yes. i mean, look at the amount of volume it traded today. it's down 33% from the all-time high. that's probably the biggest move we've seen to the downside in quite some time. maybe -- who knows what was going on. a lot of it was the fundamentals, to tim's point, the valuation, but maybe somebody caught wind of him stepping down. when you have that kind of volume, you're talking about seven or eight times normal volume, flush a lot of people

out -- yeah, you take a shot here. you haven't been able to buy it at this type of pull-back in quite some time. >> i guess the question is, do you have any visibility on where some of the same-store sales trends are -- >> can't increase price anymore. >> this is definitely a case where i'm a little concerned where we were, and let's not forget, this is the most expensive stock in its space, it's deserved the high multiple, but i don't know. >> a lot of the same headwinds that you point out for starbucks exist for cmg. it's -- >> the reason why i thought there was a lot of upside still left in the tank for cmg, barring the valuation, that's going to be a headwind, but was the international growth, because i thought, you can do that, rather simply, when you're starting with a base of 2% located outside the u.s. it felt like it was not a lay-up, but you only had upside. >> well, our first guest says while the ceo change at starbucks is a good first step, challenges remain. nick setyan is not one of the

many analysts upgrading the stock today. nick, great to have you with us. so, it's deeper than just who is at the top, at this point, it's macro? >> thanks for having me. i do. i think a lot of challenges are macro, right? slowdown startled at the end of last year, coinciding with mcdonald's and much of the industry. and before that, they had positive transactions, you know, year after year. so, everything was fine until the macro slowdown. >> but chipotle also had to weather that slowdown and didn't it weather it better? so, that begs the question, isn't niccol the kind of question that you want at the top at this point and can't he help the company execute even with that backdrop? >> look, there's a couple of specific things going on. first of all, they're one of the sort of relative value plays going into this year that we had highlighted. second, i mean, they're still benefits from a lot of

innovation. and that's a credit to niccol. you can't do that at starbucks, they've been doing it for decades now. but the carne asada is what drove that big comp and overcame the macro headwinds. and we've already seen a slowdown and a reset in terms of the second half expectations at chipotle. so, the macro is catching up. >> hey, nick, if you're a sell side analyst, which you are, you upgrade a stock right after the opening, do you get the previous day's price for all intents and purposes for your -- help me out with that for a second. >> i'll never upgrade a stock intraday. you probably would, if it's intraday. >> yeah, i guess my oinl point is, so, the analyst community was way offsides this. sentiment was really bad, investors, you know, they couldn't sell it low enough. it's interesting to see this sort of chase today. do you think they're going to have the ability to grow into

this valuation that looked cheap to the market yesterday, but now looks expensive to it? >> i mean, like, you know, on the one hand, it's still trading at a discount to its sort of pre-covid, historic, still trading at a discount to its historical sort of valuation in terms of where starbucks is today. the bottom line is, there's still, you know, very, very limited visibility in terms of what they do in fy-25. now, you know, you could have had no ceo and you're still going over a down 7% transaction quarter if their fiscal q-2. so, their march quarter was down seven, so, you have very easy compares to go over next year. so, i think, you know, the setup is, you basically have near-term, where it's completely derisked, what niccol -- no one is going to care what the current quarter looks like. and you have some very easy

expectations and hurdles to go over, basically for the next four quarters. >> but nick, it's -- i thought one of the most fascinating points you made, you just think niccol is a marketing guy. i don't think you were dismissive, i think you were lauding what he did. but marketing is great, and clearly cmg has been a marketing dynamo over the last few years, but is that a limitation to what we can do at starbucks when, in fact, it does seem very operational? >> i think so. marketing is not their problem. their current, you know, customer base is still coming in more often, they're spending more than they ever have. the problem is that aspirational customer that came in during the covid years when stimulus checks were going out, and now they're no longer there. number two, the big parts have shifted. p pre-covid, you had a bigger morning day part. now you don't have the morning habitual customers.

and three, you were more of an urban sort of concept, right? now, over the last five years, you're building drive throughs in the midwest, in the southeast, so it's a different customer you have to address. and so, maybe he has an opportunity to figure out a way to address that customer. but starbucks has shifted and it's not the same company it was five years ago. >> maybe he can bring carne asada to starbucks. j just joking. do you expect starbucks to increase capex? if they are going to improve operations, can we expect to see that, that could be a speed bump in terms of how the stock trades? >> actually capex goes down. i think they curtail the growth. that's where most of capex is. even if they do spend on tech, incr incrementally on technology, i think they're going to curtail unit growth for the next year to try to essentially lower cannibalization and bump up that sales growth. >> all right. nick, thank you for joining us. appreciate it. >> thanks for having me.

>> nick setyan. easy comps. that's a good point, because the ceo was there for a year or so. >> listen, you makes very good points. i admire him for not sort of being with the rest of the crowd. >> herd. >> the herd. i think the headwins -- they are not abated at all. it's still challenged. he will figure it out. it will take time. and, you know, if you do see, you know, if the market has another downturn, starbucks is not going to be insulated from that, so, i think this is a level where if you've enjoyed this ride, like try yan did. >> we thought it would be an interesting exercise to see which other companies could benefit from some activist pressure. maybe a ceo change. dan, what is your pick? >> yeah, lululemon. this is an interesting one. obviously nike, walk in, i don't like that. that was up 5% today. kept on going here. a huge gap from its earnings.

l lulu is down, we know there was missed execution. i look at this thing, maybe the sentiment is bad enough, maybe the chart's bad enough. maybe the valuation is good enough, if you can see a path towards at least stable forward results. they report, i think, on august 30th here, so, to me, this is one that looks really interesting for a whole host of reasons, the balance sheet is in good shape. maybe it just needs a little bit of a change. find some great marketing person who has executed on consumer discretionary and you probably get a nice pop in the stock. >> tim, your choice? >> ah -- you know, at first i wanted it to be lyft, but i got back to snap. and snap, when you think about that user base and that engagement, we're talking about 425, 430 million active users, you've got an engaged user base. you have a lack of monetization. this is the story. it's gone on forever. and it seems like this management team has been unable to do it. they've certainly got a playbook that is supposed to be driving growth while staying some what cognizant of kind of where their

core base is, and yet i think that's hurting margins. i think snap -- look at what's going on in the social media space. snap has been a disaster, and yet, this is a major, major platform at a time when monetization has not been an issue. i realize there's apples and oranges in terms of where they sit in the marketing advertising funnel, but this has been a massive disaster. >> steve? i thought iger was the dream ceo. >> he -- and the timing was perfect for him to shut down nelson peltz back then. so, it didn't work, because the stock price was higher. >> your pick is disney. >> sorry. i thought that was obvious. but i think if you look at it now, the stock price is lower than where it was, maybe the board thinks that they screwed that decision up? i think this is a more ripe time to look at not only streaming, but the parks, with the consumer slowing down. >> guy? >> bugs bunny, the dog pile on the rabbit, that whole thing. i never really --

>> dog pile on the rabbit? >> like everybody jumps in, piles in and just -- >> bugs bunny? >> it's not cool to do. but i'm going to do it. >> thanks for that. anyway, i'm going to dog pile on intel. listen. you think about it, the market is effectively at an all-time high. semiconductors in the last five years is absolutely the golden age of semiconductors, intel cannot get out of its own way. look at the stock move on the back of earnings. if you can't figure it out now, you can't figure it out. so, if there's any time for an activist at a company now trading at liquidation value if you look at the commentary out there, intel's the company for it. and i hate to be that person, but something's got to give. >> they are getting money from the u.s. government to build newfoundries, a growth area of the bid, but not fast enough. that's the issue. not fast enough. >> not fast enough. and market share continues to evaporate. so, there's some question about, in terms of the technology gap is so wide right now, i mean, i'd be a little concerned as the

u.s. government as an investor, as well. >> wasn't it activists that got gelsinger in there a few years ago, or -- i think elliott was in there, maybe a couple others. so, it doesn't mean that these activists are always right, you know what i mean? >> well, that's a great point. i'd say, at starbucks, i think the environment was so ripe for activists. not only did you have one activist, but you have the ceo x emeritus, howard schultz is ready to do anything, other than this current management team. it was so ready for someone to tip the apple cart in favor of a change. niccol is a rock star. let's be really clear. if you could grab somebody, that's why this headline is so powerful. >> right. try to pull the rip cord, right? immediately afterwards. and intel gets a new ceo, stock's going to pop and any activist in there, going to also pull the rip cord. >> i wonder if you saw activists do this sort of stuff, if it draws maybe some strategic buyers of some of these assets.

because activism is really a bull market activity. you don't really see it when you're in a bear market, that sort of thing, but again, you know, we might start to see some, you know, companies buying other companies, especially in what might be an interesting period politically over the next, call it six to nine months. >> you see it in bear stocks, though, in bull markets. stocks that have underperformed. within the bull market. and this one is so ripe, everybody dog pile on the rabbit, everyone is talking about this and -- >> poor rabbit. >> it's long overdue. the problem is, can they do anything, you have to look under the hood and see what efficiencies. >> speaking of dog piling, another rabbit emerges. >> just -- >> elliott seeking ten board seats on southwest airlines. >> oh. >> so, that's crossing right now. >> out of how many? >> i was going to say. ten is a lot. >> nine. >> sounds like most of them, if you ask me, so -- i don't know. >> we'll bring you the details when we have them. coming up, a warning in the home stretch. l what it could mean for walmart

and other retailers reporting, that's next. plus, shares of boeing getting a bump as they post their best month of net orders this year. but is it enough? we'll debate that. don't go anywhere. more "fast money" in two. this is "fast money" with melissa lee right here on cnbc.

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bring on the good stuff. can. welcome back to "fast money." home depot making a midday comeback after falling 5% on its second quarter results. the retailer beating on the top and bottom lines but warning of weaker sales as economic uncertainty causes consumers to defer projects. walmart on deck to report before the bell on thursday. that stock falling today, but still up nearly 30% this year. what do you think is behind that turnaround before the session? >> well, i think it's a combination that the full-year comp sales for home depot were better than expected. people were expecting a negative number, and if you think about where that bar was, it was incredibly high. home depot has such a solid business and their pro business is so margin accretive, they have places to smooth out and go through difficult numbers. i think the reaction, though, tells you that people are

probably shooting first and asking questions later. it's great that they got some more reassurance, but i think home depot is going to drift lower. my view on discretionary is such that i don't believe home depot can stay here. >> how do we impute this onto walmart, is that actually good news for walmart? >> ah -- i don't know if you can translate it to a walmart. to tim's point, with the exposure to the pro contractor, that was due to an acquisition that home depot had, so, they looked through that, and they gained some market share there. but if you look at the average ticket size, that dropped, customer transactions, that dropped. if walmart has a headwind, the economy's in trouble. so, i think it's going to be a good barometer for the overall economy if walmart doesn't perform. >> we talk about operating margins, that was a bright spot. 15.3%. so, they beat there, comps, tim said were going to be bad, they were. probably not as bad as were expected. so, i was actually

quasi-surprised it opened lower, but i wasn't surprised you saw a relief rally. i think they are still challenged. the guidance wasn't great. i think this can last a couple days, but the trajectory is still to the downside. >> growth is anemic here. it's not something you're willing to pay too much above a market multiple, and it brings you to lowe's, i guess. the growth is probably not that different, low single digits. >> are you -- wait a minute. >> he didn't say it. >> self-would you rathering? >> possible. and same margin structure, too. so, i know that, you know, you guys, there's a walmart and there's a target, there's a home depot and a lowe's -- >> he's rifting through all of them. >> if this stock, given the guidance they gave was up, you know, had this big reversal, i can't imagine lowe's is going to be that disappointing. there's a lot more "fast money" to come. here's what's coming up next. order up. boeing getting a boost, as order and delivery numbers come in

hot. but with safety issues still weighing on the company, can the numbers help fuel a turnaround for boeing? plus, volatility rates and a potential recession, all the things weighing on investors minds. and how they're handling their money. the latest read on investor sentiment ahead. you're watching ing "fast mone live from the nasdaq market site in times sque. 'rba rht after this. formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond.

welcome back to "fast money." shares of boeing getting a boost after its july order and delivery numbers. the plane maker posting its second straight month delivering more than 30 737 max jets. overall net orders came in at 71 aircraft with 43 planes delivered. it was the company's best month for net orders and second-best for deliveries so far in 2024. but both metrics still far below where they were year to date this time a year ago. so, i mean, good news, but obviously the overhang is st still -- >> yeah, i -- >> production. >> there's no -- well, the overhang is now sentiment, too, and there was a time, if you had given this number to the market, i think a year ago, i think the stock would be in a very different place. i mean, the reaction, first of all, there was an update from

market, boeing's had a decent bounce. i think the numbers are about improving stability. the dynamic, the $10 billion order with poland for apaches is something very ositive. i think, you know, again, there's been a lot going on. i think boeing's had a lot of problems. there's soul searching and looking in the mirror and more legal ahead of them, but there's no denying this company is a cash flow generer to and i think we're getting there. it's been delayed, but i think at 25 we're going to start to see that. >> you have legal, tim's point, production limits on them, it's -- they're limited to 38 per month. i don't know what you said, 34 that they came out with this month. so, they're limited to 38 by the faa. they have tremendous headwinds. what they do have is still the duopoly, but they're falling behind. airbus still taking share and it's still outperforming. >> and they have a new ceo tonight. >> yeah. and one we could have talked about an activist is ripe to come in -- with that said, i

mean, their defense business has zero credit, and forget about boeing for a second, which traded down to the april low, i think, and has bounced. look at some of the defense stocks. lockheed martin, these stocks have done well. if boeing gets out of their own way on the commercial side of things, this stock, you could wake up at the end of the year, say, what happened to boeing? nothing happened, it's just the market realized all the things tim has been saying. it's been a volatile couple of weeks for investors, but after the selloff and rebound, what's the next big thing investors are watching? the latest findings from the investor survey ahead. and two big a.i. calls catching our attention today. what wall street is saying about dell and micron, when "fast money" returns. assoc because this game is for everyone. were you worried the wedding would be too much?

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welcome back to "fast money." stocks rallying in today's session. the dow jumping more than 400 points, the s&p up more than 1.5%, and the nasdaq up nearly 2.5%. this morp ning, ppi rising less than expected in july, giving investors more optimism the fed will start cutting interest rates. tomorrow, we'll get cpi. the fedex%ing 0.2%.

let's look at animal health jumping 6%. a filing showing the ceo scooped up a million dollars worth of shares in the pet pharma company. they're still down 6% this year. and tilray announcing it will buy four craft breweries from molson coors. they bought eight beer and beverage brands from anheuser-busch a year ago. and flutter raising full-year guidance, but obviously, cpi tomorrow is going to be the biggie. i'm surprised there was such a reaction to ppi. cpi is going to be in the spotlight. >> i think there's a chance this could be a little higher than people expected. i would continue to remind, if it gets to be too soft, too weak, no inflation of any kind, i think that's also a concern for a market that's really on this dime's edge between, we want to see slower, lower growth, inflation, et cetera, and then suddenly the bottom's dropping out. i think the number is not really going to -- to the upside of a

better inflation print, in other words, less hawkish. i don't know that really helps here. >> too hot would be really interesting, in terms of market reaction. >> and again, i've always been under the assumption, ppi is more economically focused, so, i would have thought the soft ppi today would have been a negative for the market, as opposed to cpi tomorrow, which is more of a true inflation read. so, we'll see how it plays out, but i'm with tim on this one. i think it could be hotter than people think. >> alittle cooler and the sort of reaction that we had today makes for a really difficult setup for jay powell next week in jackson hole. the recent market volatility has left investors shaken but not deterred including the latest sentiment survey. in fact, it finds more retail investors chose to buy the dip or stay put rather than sell. let's get more with caleb silver. caleb, good to see you, as always. so, they still believe in the markets, but short-term? >> a little bit of a slap in the

face. it's a little like living on a prayer, maybe that was just a summer squall, a little volatility. they are pulling back a little bit on expectations, but generally, optimistic, or k cautiously optimistic. people thinking about what just happened, hoping it doesn't happen again, but you did see people scooping in, buying the dip, 42%. only 21% sold to lock in profits and i can understand that, completely. 26% expecting higher returns over the next six months, but that's down a little bit from june, so, we've come a long way. we had a dip, we've come back a little bit, rallies like today, the last couple of days really help with sentiment. >> recession fears are real for this cohort. >> yeah, real, and a new concern. they kind of buried that one for awhile underneath the election coming up, the chaos around the election. underneath interest rates. now they're thinking about inflation, because the drum beat is get lting louder. you hear that enough, you start to think it's going to happen. and those that think the market's going to fall, think it

will be because of potential recession. >> overvaluation is a concern, and that goes hand-in-hnd and w their views on a.i. and so many think there's a bubble here. >> yeah, you're looking for bubbles, you're going to find them in our survey in the a.i. stocks. we saw real estate come down. but those have come on a little bit of a run as interest rates have come down. still, it's a.i. and megacap tech, but that is also what's in their portfolio. >> curious, yen carry trade, did that come up at all in your work? >> the carry trade was big, people were looking up that and looking up beleveraging writ large, because they are kind of wondering, is this the beginning of the unraveling, people are going to be deleveraging there, going to hold the big tech stocks. that's kind of what they're a little bit afraid of right now. >> how consistent is that crypto southern

currency overvaluation? >> readers, 8% to 10% hold it based on our survey, so, it's not a big group of people who are watching that market very closely, but they all think by and large, 50%, think that it is overvalued. >> gina works the diner all day. so -- i just wanted to -- >> that's it? >> their commitment to the treasury market, to money markets, to places where they've been getting safe field. and that jobs number for a lot of people was a chance to push out on duration and get one last big bite on longer duration in treasuries, and i think the analogy back to jovi makes sense. >> we asked them, are you thinking about committing money to the stock market in the next six months? this was the largest reading, 50% said, yeah, we're going to take money out and put it in the stock market, even though many of our readers e feel like there could be a pull-back coming up here. >> and interestingly, obvious, my favorite question, the extra $10,000, it'sstill stocks.

>> stocks, stocks. more stocks than john stockton. this is consistent every month now for the past six to seven months, you gave them 10 grand, they would put it in their favorite stocks. the biggest stocks in the stock market. that hasn't changed. they're back in touch with their favorites. >> caleb, always good to see you. thank you. >> thank you. >> caleb silver. >> caleb is great, number one. i love him. >> that goes without saying. >> on a steel horse i ride. he comes in on a skateboard, but you are amazing. you know why? we have a minute. twice today now -- >> not really. >> we do. >> you had no idea -- steve liesman brought up apollo 13, you had no clue, played right along. john stockton, you have no idea. but you were brilliant in the -- >> i am a tv anchor. that is in part of our job. >> i -- >> david rosenberg in his note this morning, he said, only a

fifth of investors, he must be reading off a survey, are bearish right now. so, we're getting to levels -- i mean, the way that sentiment has flip-flopped in two weeks is pretty shocking. coming up, shares of dell and micron jumping in today's session. why wall street was loving on the a.i. plays? and weight loss drug coverage could get a whole lot easier. what one digital health company is doing to add some major weight to the space. "fasmoy"s ckn o.t ne iba itw

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welcome back to "fast money." dell and micron moving higher today on a pair of bullish calls on their a.i. businesses. barclays upgrading dell, saying the a.i. hype has washed out of this name, creating a better ri risk/reward scenario. and new street saying micron is well poised for the second half of the year in both its a.i. ramp-up and traditional serve ercegment. so, here we are, not nvidia, but positivity on the other adjacent plays. >> look at the selloff in micron. look at the move higher. the prior all-time high in the stock was december of '21, around 94 bucks. look where we just traded down

to. you can make a pretty compelling case on valuation, which you could all along, but now more so, with a company that's going to resume their share repurchase so, i like this call, i mean, there could be a move -- this is one, again, like poeboeing, it could be $110 out of nowhere. >> the demand in the a.i. server market will increase 14 times in the next four years. you're saying there's no way. >> i mean, listen, i keep hearing, it's so different this time. i mean, we haven't even had a deceleration in demand. so, if you think it's going to go from a to b like that in getting to 14 times, it's not the way it works. but for these two stocks, they're identical charts, they both sold off 40%, and i think the key word in that quote that you just said is derisk, right? so, this is not a mania in these two stocks anymore. >> when you look at micron, they are 70% reliant on d-ram prices, 30% reliant on nan. if you look at a.i., the growth in a.i., you need nan memory,

and to guy's point, on a technical level, the thing has roundtripped. it's due for a bounce. coming up, the digital health company launching a new tool to help consumers find coverage for weight loss drugs. the ceo will join us next. more "fast money" in two.

welcome back to "fast money." checking insurance coverage for glp-1 weight loss drugs just got easier thanks to a new tool from ro. the direct to consumer health care company launching a service today that gives patients a free personalized report of their cover treatment options. joining us on-set is ro's ceo. great to see you again. so, launched today. how has it been received so far? >> the demand has been overwhelming and the team is really excited about it. why we built the tool i think is really important. so, one of the biggest problems for patients when they start this journey is, how much is this medication going to cost and am i covered? the variance is massive. it's either a few hundred dollars a year if you are covered, or $10,000, $12,000 a year if you are not. what ends up happening, patients don't seek out care in the first place. but so many of them are covered.

the intent behind this tool is to bridge that gap between coverage, knowledge, and access to the sttreatments. >> say they are not covered. the possible -- the alternative is to get compounded. so, are you seeing that? i mean, are you seeing that that's the tradeoff that consumers are making at this point? >> we are seeing the first and foremost patients try to see if they can get it covered, because, again, the majority of our patients are actually, when they are covered, which, about 45% of patients are covered, 80% of them are paying less than $100. and 50% of them are paying $50. when you can get coverage, you really are covered. that's the primary path that patients take. if they're not, they will choose between cash pay branded medication or that compounded. >> what is the split on that, i'm tur use, people that are willing to go cash pay for the real thing or compounded? >> when choosing between those, you will see probably a 2 to 1 split of cash pay branded versus compounded, but you'll see the vast majority try the insurance path first.

>> we've been talking about a consumer that, like, kind of strained here, kind of weakening a little bit. so, for those cash pay sort of patients here, are you seeing any sort of -- is there any seasonality, like, once summer is over -- >> i wonder if there's a tradedown, too, after awhile? >> are you seeing that behavior? >> we do see the copay influence retention, as you can imagine. but what's fascinating, this is one of the last things to go. we are seeing patients, about a third of our members make less than $70,000 a year for ro body, which is surprising to people. and it's definitely a budget purchase for them, so, they are carving out this expense. and trading off -- you are seeing them eat out less, grocery shop more, they might trade off travel. so, it plays such an important role in people's lives that this is one of the last things to go for them. >> the fda issued a warning about compounded semaglutide, saying they have received adverse event reports. mainly to do with incorrect

dosing, patients aren't familiar with how to give themselves injections, so, there are errors being made there. what do you feel is your role here, since that is an option on your site and the fda is warning there could be a problem here. >> yeah, it's a phenomenal question. compounding itself, i think, plays an important role in the health care system. two-fold. one, to buoy the supply chain during shortages, right, we have shortages of cancer drugs, mental health, heart disease, and then when a commercially available product doesn't mean the patient's needs. so, i think you're seeing compounding play a very important role play right now. i don't think you would have seen lilly push to release the vails s vials if you didn't see success. you are seeing lilly, they started that way in europe, there's many, many drugs where a needle and vial is common place. so, it's a typical part of a lot of patient's health care experiences. we have to make sure we provide

a ton of education and support for our patients. >> when the drugs come off the shortage list as tirzetirzepati when semaglutide does, what does that do to your revenue? >> quick clarification. so, while all of the doses are listed as available on the fda's website, the drug itself is currently listed as in shortage, both tirzepatide and semaglutide, a small clarification, but overall, we are rooting for the shortage to end, because when that shortage ends, again, there's about 50, 60 million people covered for wegovy. there's no shortage of people who have access to that $50, $80 a month product. it's just supply limited and knowledge limited on the coverage side. we're rooting for the shaortage to end. >> what does the glp report show? can you share with your doctors, insurance coverage, all those things that are daunting for people? >> that's right.

so, we built it in a way where it is shareable with your doctor, so, it's got all the key information. people to go onto ro right now, they can actually -- they can do that. what it shows is, first and foremost, whether or not you're covered. whether or not a pryor auth is required. the estimated copay. we've layered on fda availableability data. and then what to tell your doctor, if that's a doctor on ro or your in-person doctor. we're saving patients time and money. at the very beginning of their journey so they know the next best step. >> maybe this is not a fair question to end with, but i ask you all the time. are you preparing to go public? now is the time. people want to be -- obviously you see the frenzy surrounding lilly and novo and the related drugs. adjacent glp-1 stocks, there's a market for it. >> you ask me every time and i will continue to say, we're just heads down focused on our patients right now. >> zach, good to see you. >> good luck on your ipo. >> thank you. >> we'll see you when you ring

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final trade time. tim? >> target. i think this is a case where we've priced a lot of bad news in there. >> steve? >> ethereum mini. took it on the chin. guy loves that saying. >> dan? >> yeah. exxon's traded really well. it's in a nice uptrend. ready to what, guy? >> party. >> looks good. >> cbw likes exxon, too. >> when i think of party, i

think of the great miley cyrus song, and she's a huge "fast money" fan. >> party in the usa. >> yeah. >> delta. i didn't forget, mel. and great job today on "squawk box." dal is ready to party. >> i'll be back there tomorrow before i see you tomorrow my mission is simple. to make you money. i am here to level the playing field for all investors. there's always someone at work somewhere. i promise to help you find it. mad money, starts now. >> hey, i am cramer. welcome to mad money. my friends, i just tried to make a little bit of money. my job is to entertain. explain today, and how they work. 1 807 43 cnbc. and $1 billion in value on the